Deterra Royalties Ltd · ASX:DRR
Deterra Royalties — Investor Presentation (September 2025)
27 slides from Deterra Royalties's investor presentation, September 2025
Slide 1: Deterra Royalties Corporate Presentation
Deterra Royalties Diversified resource royalties Corporate Presentation September 2025 | ASX : DRR
Slide 2: Important notices and disclaimer
Important notices and disclaimer This presentation has been prepared by Deterra Royalties Limited (“Deterra”, “the Company”). By accessing this presentation, you acknowledge that you have read and understood the following statement. The material in this presentation is general summary information ab
Slide 3: Deterra – high quality resource royalties
Deterra – high quality resource royalties Our compelling business model, combined with high quality assets and focused strategy offers a unique way to invest in the resources sector Deterra’s Strategy Benefits of the royalty business model Lower risk exposure to resources sector through a compelling
Slide 4: FY25 Highlights: Executing on our strategy
FY25 Highlights: Executing on our strategy Record operational performance at producing assets supports strong shareholder returns while key development assets continue to advance • Mining Area C (MAC) delivers record production Quality assets • South Flank exceeds nameplate capacity1 delivering reco
Slide 5: FY25 Financial Highlights
FY25 Financial Highlights Record MAC volumes and Offtake revenue drive strong result and strong balance sheet Underlying EBITDA1 of $250 million, up 10% o Record MAC volumes delivering $20 million capacity payment, offset by lower realised iron ore price o Gold offtakes generated $21.5 million net r
Slide 6: Disciplined portfolio management
Disciplined portfolio management Continuous review of portfolio to realise value from non-core assets US$82 million (A$124 million) disposals of non-core assets: La Preciosa silver assets: Asset sales in 2025 (US$ millions) ~28% Pre-tax IRR • Acquired September 2024 through Trident portfolio for US$
Slide 7: Strategy and outlook
Strategy and outlook 7
Slide 8: Building value through shareholder returns and portfolio optionality
Building value through shareholder returns and portfolio optionality Strategy focused on patient and disciplined approach to: Fully franked dividends paid/declared ($m) Capital management… 140 120 • Discipline to return capital when not required for investment or balance sheet 100 management 80 • $6
Slide 9: High quality portfolio with growth optionality
High quality portfolio with growth optionality Key assets Operator Interest Mining Area C BHP 1.232% of Iron Ore revenue + capacity payments Thacker Pass Lithium 1.05% GRR royalty over Americas Thacker Pass Project1 9 1. After expected exercise of partial buyback
Slide 10: Foundation Mining Area C iron ore royalty
Foundation Mining Area C iron ore royalty Operated by BHP, top line exposure to the world’s largest iron ore hub1 with 9% of global seaborne iron ore supply2 The MAC Operation 1 The MAC Royalty Large 145Mtpa hub Agreement type Gross revenue royalty 45+ year mine life, with Tandanya and Mudlark ident
Slide 11: Mining Area C continues to deliver world leading volumes
Mining Area C continues to deliver world leading volumes South Flank expansion complete in FY24 and exceeding nameplate capacity in FY251 Mining Area C (“MAC”) Highlights Mining Area C production (100% basis, mwmtpa)2 • Two Iron Ore Hubs producing a total of 145mwmtpa 160 comprised of: 140 • North F
Slide 12: Mining Area C outlook
Mining Area C outlook Following a period of significant organic growth, iron ore pricing will be the primary driver of MAC royalty revenue in the short- to medium-term Mining Area C Royalty Performance2 Mining Area C status MAC production (mwt) Iron ore price (US$t) GRR revenue (A$m) • FY25 reported
Slide 13: Thacker Pass lithium royalty
Thacker Pass lithium royalty Operated by Lithium America Corp, provides top line exposure to world’s largest lithium reserve1 The Thacker Pass Operation1,2 The Thacker Pass Royalty Large Phase 1 planned capacity of 40,000tpa LCE Agreement type Gross revenue royalty LAC right to reduce royalty to 1.7
Slide 14: Thacker Pass significantly de-risked with construction underway
Thacker Pass significantly de-risked with construction underway A “textbook” royalty since Deterra acquisition Non-JORC Proven & Probable Mineral Non-JORC Measured & Indicated Reserves (NI 43-101)4,5,6 Mineral Resources (NI 43-101)4,5,6 Doubled targeted production and mine life1 16 50 • Phase 1: 40k
Slide 15: Thacker Pass outlook
Thacker Pass outlook Full construction commenced in April 2025 with mechanical completion and first production targeted for late 2027 Project status1,2 • Remains on target for mechanical completion and first Countercyclical Tier 1 Investment3,4 production November 2027 • All long lead equipment awar
Slide 16: Royalty portfolio – near term milestones and newsflow
Royalty portfolio – near term milestones and newsflow Asset Royalty Milestone Details Mining Area C 1.232% GRR • Nameplate capacity • Continuous operation at nameplate capacity of 145Mwmtpa (Fe) • US$13.2m contingent receipt6 Thacker Pass • First production 1.05% GRR1 (Li - clay) expected in CY20272
Slide 17: Capital Management
Capital Management 17
Slide 18: Balance Sheet and Liquidity
Balance Sheet and Liquidity Liquidity position and balance sheet remain strong and in line with capital management framework Debt waterfall (A$M) • $500 million revolving credit lines across 5 bi-lateral facilities • c$205 million available liquidity for investment Increase Decrease Total • Net debt
Slide 19: Disciplined Capital Management
Disciplined Capital Management Deterra’s strategy to deliver both future growth and shareholder returns LOW-RISK ROYALTY REVENUE SUPPORTING SUSTAINABLE MODEL GROWTH AND DIVIDENDS Targeting 0-15% Leverage Ratio3 through Strong Balance Sheet the cycle Royalty & offtakes cashflow EXECUTING Dividends DE
Slide 20: Capital management framework
Capital management framework Balancing shareholder returns with future growth Capital management framework Shareholder returns policy A target payout ratio of 75% of NPAT, reflecting confidence in • Maintain flexibility to invest counter- future cash flows, with the Board exercising discretion based
Slide 21: The power of royalty assets
“Top line” Commodity price Project The power of royalty cashflows leverage optionality assets Royalty revenue derived from asset’s Direct exposure to underlying Asset expansions and extensions drive revenue line, or with commodity price royalty values Lower exposure to capital and limited, defined o
Slide 22: Corporate Overview
Corporate Overview Lower risk exposure to mining through royalties and streams Cornerstone MAC iron ore royalty CAPITAL STRUCTURE Share price1 $4.15 Royalty over world-scale Thacker Pass lithium project Shares on issue 528.9m Market capitalisation1 $2.2bn Active and disciplined in pursuit of investm
Slide 23: For more information
For more information Investor enquiries Media enquiries Jason Clifton Gerard McArtney Chief Financial Officer Purple Email: investor.relations@deterraroyalties.com Mobile: +61 (0) 487 934 880 Email: gmcartney@purple.au Deterra Royalties Limited ACN 641 743 348 Level 16, 140 St Georges Terrace Perth
Slide 24: FY25 Financial Results
FY25 Financial Results 8 Deterra ROYALTIES
Slide 25: Income Statement
Income Statement Consolidated statement of Profit or Loss ($’000) Full-year ended Full-year ended 30 June 2025 30 June 2024 Royalty Revenue 241,958 240,509 Income from offtake contracts 21,475 - Operating Expenses (13,301) (12,604) Amortisation and depreciation like charges (6,336) (462) Trident acq
Slide 26: Balance Sheet
Balance Sheet Consolidated statement of financial position ($’000) 30 June 2025 30 June 2024 Cash and cash equivalents 24,394 31,064 Trade and other receivables 80,495 58,660 Income tax assets 2,747 1,487 Prepayments 930 1,065 Total Current Assets 108,566 92,276 Royalty intangible assets 305,106 7,9
Slide 27: Underlying EBITDA and NPAT
Underlying EBITDA and NPAT Net Profit After Tax (NPAT) ($’000) Full-year ended Full-year ended 30 June 2025 30 June 2024 Net Profit After Tax 155,695 154,886 Income tax expense 69,186 66,702 Amortisation and depreciation like charges 6,336 462 Net finance costs 15,397 1,667 Revaluation of financial
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