Kenmare Resources Plc · LSE:KMR

Kenmare Resources — Shareholder Meeting (May 2023)

30 slides from Kenmare Resources's shareholder meeting presentation, May 11, 2023

  1. Slide 1: 2023 AGM Presentation

    RESPONSIBLY MEETING GLOBAL DEMAND FOR QUALITY-OF-LIFE MINERALS 2023 AGM Presentation 11 May 2023

  2. Slide 2: Disclaimer

    Disclaimer This Presentation (the “Presentation”) has available in connection with the Company. not prove to be correct and there can be no been prepared and issued by Kenmare assurance that any projected results are This Presentation does not constitute or form Resources plc (the “Company” or “Kenm

  3. Slide 3: A globally significant titanium minerals deposit

    A globally significant titanium minerals deposit Moma Titanium Minerals Mine overview Tier one orebody Operational process outline  >100 year life of mine at targeted production rate of 1.2 Mtpa ilmenite Wet Heavy mineral Dredge + dry concentrator concentrate  Moma is comprised of multiple ore zon

  4. Slide 4: Creating sustainable competitive advantage

    Creating sustainable competitive advantage Strategic priorities OPERATE • 12 million hours worked with no LTIs 0.09 • 6% reduction in Scope 1 CO2 LOST TIME INJURY RESPONSIBLY emissions FREQUENCY RATE • 1st quartile industry position for DELIVER LONG LIFE, LOW COST 2021 confirmed by TZMI • >100 years

  5. Slide 5: 2022 review

    2022 review Mineral Separation Plant

  6. Slide 6: 11.8 million hours LTI free record achieved

    11.8 million hours LTI free record achieved Striving to improve Health and Safety outcomes Redoubling efforts on workforce safety Safety performance  19 months and 11.8 million hours worked without a Lost Time Injury from 2021 to 2022 8 0.3 0.27  Improved performance related to hazard 7 0.25 ident

  7. Slide 7: Consistent production in 2022 despite higher slimes

    Consistent production in 2022 despite higher slimes Greater efficiencies offset some impacts of slimes and lower feed quality HMC production Ilmenite HMC: Steady production  Record excavated ore volumes and HMC production 1,586,200t 1,088,300t  Slimes levels impacted mining rates and recoveries at

  8. Slide 8: Record prices achieved

    Record prices achieved A strong year for all products 800 600 700 429 500 Shipment Volumes 600 $ per tonne (FOB) 366 486 (000’s tonnes) 500 400 283 400 236 239 257 300 223 300 269 274 200 200 100 100 - - H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Shipment Volumes

  9. Slide 9: Ilmenite unit costs benefitting from co-products

    Ilmenite unit costs benefitting from co-products Production and cash operating cost per tonne profile 1,600kt $200/t 1,400kt $175/t 1,200kt $150/t Cost per tonne ($/t) Production (kt) 1,000kt $125/t 800kt $100/t 600kt $75/t 400kt $50/t 200kt $25/t 0kt $0/t 2015 2016 2017 2018 2019 2020 2021 2022 202

  10. Slide 10: Record revenues, profits, and shareholder returns

    Record revenues, profits, and shareholder returns Operational and financial highlights Other highlights Projects Sales price (FOB) Mineral Product 2022 Dividends RUPS1 463 ($/t) Revenue ($m) 498 327 421 229 248 272 Up 66% Complete 246 256 232 2022: USc54.3/sh Providing steady 2021: USc32.7/sh power

  11. Slide 11: Continued dividend growth

    Continued dividend growth Shareholder returns Dividends 2022 Shareholder returns profile $60m Dividends per Full year 2022 $40m share dividend +66% USc54.3/sh $20m $0m 2019 2020 2021 2022 Dividend policy delivery Interim Dividend Final Dividend  Dividend policy of minimum 20% Profit After Tax, evol

  12. Slide 12: Strategy for Nataka developed and tested

    Strategy for Nataka developed and tested Nataka Pre-feasibility Study completed Definitive Feasibility Studies (DFS) to be completed in 2023 ?  Nataka is the largest ore zone for Moma, representing 75% of Kenmare’s mineral resources  Different resource characteristics to Namalope; higher slimes 

  13. Slide 13: Sustainability is core

    Sustainability is core Sustainability strategic pillars Safe and engaged workforce Thriving communities • 50% LTIFR improvement against • $3 million invested by KMAD in a 3-year average (2020-2022) community projects • 14.5% female representation at • 17% improvement in numeracy the Moma Mine (2021:

  14. Slide 14: Outlook 2023 and beyond

    Outlook 2023 and beyond WCP A control room

  15. Slide 15: Maintaining production in 2023

    Maintaining production in 2023 2023 production guidance Production 2023 Guidance1 2022 Actual Ilmenite tonnes 1,050,000 - 1,150,000 1,088,300 Primary zircon tonnes 51,000 - 57,000 58,400 Rutile tonnes 8,000 - 9,000 8,900 Concentrates2 tonnes 37,000 - 41,000 45,200 Costs Total cash operating costs $m

  16. Slide 16: First quartile margin position attained in 2021

    First quartile margin position attained in 2021 Mineral sands industry revenue to cash cost curves 8 7 6 5 4 3 2 1 2021 2018 2013 1st Q 2nd Q 4th Q 0 0% 25% 50% 75% 100% 2013 2018 2021  The latest TZMI industry cost analysis puts Kenmare in the 1st quartile for 2021  Maintaining the best possible

  17. Slide 17: Delivering on our strategy

    Delivering on our strategy Strategic performance and targets 2022 performance 2023 targets • Focus on safety • RUPS commissioning OPERATE • Reducing CO2 emissions & RESPONSIBLY • Broad range of ESG targets set increasing biodiversity • Maintain cost control in an • Steady forecast production in DELI

  18. Slide 18: Resolution 1

    Resolution 1 To consider the Financial Statements, the Directors’ Report and the Independent Auditor’s Report thereon for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 18

  19. Slide 19: Resolution 2

    Resolution 2 To consider the Remuneration Committee Report and the Annual Report on Remuneration as set on pages 118 to 134 of the Annual Report for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 19

  20. Slide 20: Resolution 3

    Resolution 3 To declare a final dividend of USc43.33 per Ordinary Share for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 20

  21. Slide 21: Resolution 4

    Resolution 4 To re-elect the following Directors (a) Michael Carvill (b) Mette Dobel (c) Elaine Dorward-King (d) Clever Fonseca (e) Graham Martin (f) Deirdre Somers (g) Andrew Webb and to elect the following directors (h) Tom Hickey (i) Issa Al Balushi Kenmare Resources – 2023 AGM Presentation 21

  22. Slide 22: Resolution 5

    Resolution 5 To authorise the Directors to fix the remuneration of the auditor. Kenmare Resources – 2023 AGM Presentation 22

  23. Slide 23: Resolution 6

    Resolution 6 Special Resolution - To renew the authority to convene an EGM by 14 days notice. Kenmare Resources – 2023 AGM Presentation 23

  24. Slide 24: Resolution 7

    Resolution 7 Ordinary Resolution - To approve, on an advisory basis, the Directors’ Remuneration Policy as set out on pages 135 to 145 of the Annual Report for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 24

  25. Slide 25: Resolution 8

    Resolution 8 Ordinary Resolution - To authorise the Directors to allot relevant securities. Kenmare Resources – 2023 AGM Presentation 25

  26. Slide 26: Resolution 9

    Resolution 9 Special Resolution - To disapply statutory pre-emption rights. Kenmare Resources – 2023 AGM Presentation 26

  27. Slide 27: Resolution 10

    Resolution 10 Special Resolution - To authorise market purchases. Kenmare Resources – 2023 AGM Presentation 27

  28. Slide 28: Resolution 11

    Resolution 11 Special Resolution - To authorise re-issue of treasury shares. Kenmare Resources – 2023 AGM Presentation 28

  29. Slide 29: Follow Kenmare on social media

    Follow Kenmare on social media Facebook, Twitter, and LinkedIn  Kenmare has profiles on Facebook, Twitter and LinkedIn, which feature regular updates on our corporate social responsibility initiatives, operational and development milestones, news flow and more  Click the name of the social network

  30. Slide 30: Contact Us

    Progressive land rehabilitation Contact Us Jeremy Dibb / Michael Starke +353 1 671 0411 ir@kenmareresources.com Follow us

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