Slide 1: 2021 Annual Results
2021 Annual Results Premier pure-play copper producer in Europe 24 March 2022
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by Atalaya Mining Plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers
Slide 3: 2021 Annual Results
2021 Annual Results
Slide 4: Review of 2021
Review of 2021 ‒ Mill continued to operate above nameplate capacity, with 15.8 Mt processed ‒ Exceeded high end of increased 2021 production guidance, with 56,097 tonnes produced Operating ‒ Achieved AISC of $2.48/lb, below guidance range & Financial ‒ Achieved new record for EBITDA, operating cash
Slide 5: 2021 Production Results
2021 Production Results Record year of production thanks to strong mill performance Ore Throughput (Mt) Record annual production 56,097 tonnes Cu 55,890 | 2020 Higher throughput & recoveries offset lower grades Copper Recovery 15.8 Mt ore processed 0.41% Cu ore grade 14.8 | 2020 0.45% | 2020 85.97%
Slide 6: 2021 Financial Results
2021 Financial Results Record EBITDA & cash flow, with robust balance sheet post inaugural dividend payment Revenues (€m) Income statement highlights Revenue: €405.7m Op. costs: €(206.6)m €252.8m | 2020 €(185.3)m | 2020 EBITDA: €199.1m Profits: €132.2m €67.4m | 2020 €30.4m | 2020 Cash flow statement
Slide 7: Dividend Information
Dividend Information In 2021, Atalaya paid its inaugural dividend and announced a future dividend policy Inaugural Dividend Future Dividends ▪ Announced on 27 October 2021 ▪ Atalaya’s Philosophy: ‒ Record date of 5 November 2021 ‒ Reward shareholders through a sustainable ‒ Paid on 1 December 2021 d
Slide 8: Sustainability Reporting
Sustainability Reporting Atalaya has made continued progress in its disclosure around its sustainability practices Atalaya Mining plc: Approach to Sustainability ▪ In January 2022, Atalaya published a new document that provides additional disclosure on its comprehensive approach to Environmental, So
Slide 9: The Year Ahead: FY2022
The Year Ahead: FY2022
Slide 10: 2022 Guidance
2022 Guidance Production is expected to be in line with the record achieved in 2021 Operational Guidance ▪ Production ‒ Another good year of production Ore mined Mt 15.5 is expected ‒ Q1 to be lower than remaining 23.4 Waste mined Mt quarters, due to bringing forward of maintenance and recent supply
Slide 11: Energy Market in Spain
Energy Market in Spain Current market situation is highly unusual but is expected to normalise Electricity Generation by Technology(1) ▪ Spain’s electricity generation capacity is dominated by carbon-free and renewable energy sources ‒ Natural gas (combined cycle) and coal represent ~10% of output 1
Slide 12: Electricity Procurement Strategy
Electricity Procurement Strategy Reducing energy costs and exposure to spot market, while lowering carbon footprint Location of 50MW Solar Plant ▪ 50MW solar plant Tailings Storage Facility (TSF) ‒ Construction under way 50MW of combined capacity ‒ 100% for self consumption, representing ~22% of 15
Slide 13: Key Activities for 2022
Key Activities for 2022 50MW solar plant: Construction under way Sustainability Report 2021: To be published in the coming weeks Proyecto Masa Valverde: NI 43-101 technical report pending, continued exploration San Dionisio / San Antonio: Independent resource estimate to be included in new Riotinto
Slide 14: Atalaya Strategic Vision
Atalaya Strategic Vision
Slide 15: Strategic Asset Portfolio
Strategic Asset Portfolio Total land package covers >1,100 km2 in three prolific mining districts in Spain Alconchel Proyecto Ossa Morena Proyecto Touro Riotinto Riotinto East Proyecto Masa Riotinto Valverde District 15
Slide 16: Potential Future Processing Hub
Potential Future Processing Hub Atalaya’s 15 Mtpa mill could become a future processing hub – similar to MATSA model Key Operations in the Iberian Pyrite Belt Aguas Teñidas Magdalena Cerro Colorado MATSA San Dionisio San Antonio (Sandfire) Riotinto East Sotiel Riotinto Masa Valverde / Majadales Dist
Slide 17: Illustrative Production Potential
Illustrative Production Potential Potential to increase production and LOM by sourcing higher grade ore from the district Copper Production (kt) Illustrative Copper Production Uplift (kt)(1)(2) Ore feed from satellite deposits (Mt) 12.3 0.5 1.0 2.0 4.0 6.0 0.50% 0 1 2 3 5 0.60% 1 2 3 6 10 0.70% 1 2
Slide 18: Conclusion
@ Atataya Conclusion
Slide 19: Key Priorities for 2022 and Beyond
Key Priorities for 2022 and Beyond Continued focus on operational excellence, sustainability and delivering growth ‒ Meet or exceed production guidance of 54,000 – 56,000 tonnes of copper ‒ Continue to operate in a safe and sustainable manner ‒ Advance growth portfolio – San Dionisio, Touro, Proyect
Slide 20: Appendix
Appendix
Slide 21: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: AIM ATYM Ticker - TSX AYM Share price (21-Mar-22) GBp 390 Basic shares m 139.9 Fully-diluted shares m 142.2 Market capitalisation (basic) £m 545 Market capitalisation (basic) US$m $718 Cash (at 31-Dec) €m 108 Debt (at 31-Dec)
Slide 22: MATSA Transaction Benchmarking
MATSA Transaction Benchmarking Sandfire’s acquisition of MATSA highlights Atalaya’s strategic positioning Key Metrics ▪ Sandfire Resources (ASX: SFR) MATSA completed the acquisition of premium MATSA for ~US$1.9 billion in to ATYM cash in February 2022 Transaction metrics Current trading metrics ‒ MA
Slide 23: AISC Benchmarking
AISC Benchmarking Atalaya is well-positioned despite its mining contractor model and low by-product credits Reported AISC (US$/lb) Source: Company filings Note: Peers that do not disclose AISC include Central Asia Metals, Ero Copper, Sandfire and Taseko 23
Slide 24: Senior Management
Senior Management Decades of operations, project development and financial expertise Alberto César Enrique Lavandeira Sánchez Delgado Chief Executive Officer, Director Chief Financial Officer Operations – General Manager, Proyecto Riotinto Over 42 years’ experience operating Former CFO of companies
Slide 25: Board of Directors
Board of Directors Mining, capital markets and finance expertise Non-Executive Over 45 years’ experience in the mining industry. Former Senior Mining Engineer at NM Rothschild & Sons; Roger Chair of the former Director, VP and GM, AngloGold (Argentina). Currently a director of Central Asia Metals, H
Slide 26: Contacts
Contacts Atalaya Mining plc Investor Relations Alberto Lavandeira, CEO Carina Corbett, 4C Communications Ltd +34 959 59 28 50 +44 20 3170 7973 info@atalayamining.com corbett@4ccommunications.com Restricted & confidential