Afrimat Limited · JSE:AFT
Afrimat — Shareholder Meeting (July 2025)
24 slides from Afrimat's shareholder meeting presentation, Jul 23, 2025
Slide 1: Annual General Meeting
Annual General Meeting 23 July 2025
Slide 2: Disclaimer
Disclaimer Afrimat has acted in good faith and has made every reasonable effort to ensure the accuracy and completeness of the information contained in this presentation, including all information that may be defined as 'forward-looking statements'. Forward-looking statements may be identified by wo
Slide 3: Core message
Core message 1 2 3 Making progress Operational Strategically after last year’s execution underpins positioned for long challenges our strategic term sustainability success Afrimat operates a robust diversified model, and is a company with the ability to adapt when things change 3
Slide 4: Why we exist
01 WHY WE EXIST Consciously making a difference through excellence with integrity
Slide 5: The Afrimat Way: Excellence with Integrity
The Afrimat Way Excellence with Integrity 5
Slide 6: Deep segmental diversification
Deep segmental diversification FY2025 - Revenue contribution Services Anthracite 3% (2024:5%) 10% (2024: 12%) Aggregates Iron ore 43% 24% (2024:37%) (2024: 36%) IM Cement 7% 12% FMM (2024:9%) (2024: 0%) 1% (2024:1%) Diversification at the heart of our strategy 6
Slide 7: What we do
WHAT WE DO 02 A leading, empowered mid-tier mining and materials supply company
Slide 8: What we do
What we do Track record of operational excellence and competence in mid-tier mining and materials supply Construction Industrial Bulk Future Materials Materials Minerals Commodities and Metals Aggregates | readymix | concrete Limestone | dolomite Iron ore | anthracite | manganese Phosphate | rare ea
Slide 9: Financial summary F2025
Financial summary F2025 Up 36,7% to R8,3 billion 72,3 cents 2 862 cents 15 cents Group revenue HEPS Net asset value Final dividend 7,3% 48,9% 5,7% Return on net Net debt:equity ratio Operating profit margin operating assets 9
Slide 10: Operational update
03 OPERATIONAL UPDATE A track record of efficient execution
Slide 11: Construction Materials: Aggregate operations
Construction Materials Aggregate operations ▪ Optimising operational efficiency and throughput ▪ Regaining market share in ex-Lafarge quarries ▪ Improving equipment reliability in ex-Lafarge quarries ▪ Building Afrimat company culture throughout ▪ Lafarge South Africa was bought for the quarries. Ex
Slide 12: Construction Materials: Aggregates market
Construction Materials Aggregates market Update ▪ Market is stable with slight volume growth ▪ Transport sector is exciting (rail, roads) ▪ Well situated quarries house natural “moats” (Excellent international examples: Vulcan, CRH) 12
Slide 13: Construction Materials: Cement and extenders
Construction Materials Cement and extenders Update ▪ Fly ash operation repaired and is delivering excellent results ▪ Randfontein grinding plant performing very well ▪ Lichtenburg factory not fully reliable yet ▪ Highly experienced engineering team deployed ▪ Market demand strong ▪ Excited about inn
Slide 14: Bulk Commodities: International iron ore
Bulk Commodities International iron ore Update ▪ Total export volumes similar to last year ▪ Blended from various sources ▪ Salene iron ore source recently added (adjacent to Jenkins) ▪ Export at Platts index prices. Recently improved back to $100/ton ▪ Rand/US$ fluctuations 14
Slide 15: Bulk commodities: Local iron ore
Bulk commodities Local iron ore ▪ Domestic sales at defined price (at mine gate) ▪ Significantly improved volumes ▪ Able to supply innovative raw material solutions to support customers long-term sustainability ▪ Further growth in volumes possible ▪ Bulk of the supply taken up by Vanderbijlpark 15
Slide 16: Bulk Commodities: Anthracite
Bulk Commodities Anthracite Update ▪ Full EIA now received ▪ Mothballed underground mining operations ▪ Discovered viable open pit mineable area ▪ No more housing relocations expected this year ▪ Mozambique border has reopened • Two shipments exported in Q1 with additional shipments across financial
Slide 17: Industrial Minerals
Industrial Minerals ▪ Stronger focus on agricultural lime ▪ Agricultural lime market orders later this year due to excessive rain on farms ▪ Industrial market impacted by downsizing of ferrochrome smelters 17
Slide 18: Future Materials and Metals: Glenover overview
Future Materials and Metals Glenover overview ▪ Excited about possibilities in battery industry ▪ Resource could be ideal ▪ Potential partners identified ▪ Single super phosphate sales have started ▪ Production rates not satisfactory yet ▪ Potential remains very good ▪ Rare Earth: current status ▪ C
Slide 19: Future outlook
04 FUTURE OUTLOOK Unlocking the full potential
Slide 20: Progress, prospects and priorities
Progress, prospects and priorities ▪ Unlock the tremendous value of the Lafarge acquisition ▪ Focus on eradicating losses and optimisation of cement plant ▪ Enhance operating margins in Construction Materials aggregates business through efficiency projects ▪ Execute on optimisation of Life of Mine p
Slide 21: Total capital expenditure
Total capital expenditure Capital expenditure 2016 - planned 2026 (R’000) 963 093 929 481 913 385 782 446 550 877 Improvement capital (R'000) Bulk Commodities – Iron ore 150,000 Doornfontein Resource 293 587 273 438 207 543 Bulk Commodities – Nkomati 202 220 2,9% 100,877 131 264 134 521 Mine develop
Slide 22: Areas of focus
Areas of focus ▪ Operational performance, cash generation and reduction of debt ▪ Construction Materials • Ensure new quarry production and margins are on par with traditional Afrimat quarries • Ensure production reliability from cement turns into profitability • Differentiate the cement business wi
Slide 23: Core message
Core message 1 2 3 Making progress Operational Strategically after last year’s execution underpins positioned for long challenges our strategic term sustainability success Afrimat operates a robust diversified model, and is a company with the ability to adapt when things change 23
Slide 24: Investor relations
Investor relations 29 August 2025 Pre-close webinar September 2025 Trading update Announcement of interim results Andries van Heerden 23 October 2025 Chief Executive Officer and interim dividend 021 917 8853 December 2025 Interim dividend payment Vanessa Rech Keyter Rech Investor Solutions vrech@kri