Jupiter Mines Limited · ASX:JMS
Jupiter Mines — Shareholder Meeting (November 2024)
34 slides from Jupiter Mines's shareholder meeting presentation, Nov 28, 2024
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 28 November 2024 Perth
Slide 2: Disclaimer
Disclaimer This presentation is provided for information "likely", "intend", "should", "could", "may", "predict", purposes only. The information in this presentation is "plan", "propose", "will", "believe", forecast", in a summary form, does not propose to be complete "estimate", "target" and other
Slide 3: Meeting Agenda
Meeting Agenda For personal use only Introduction and Chair’s Address 4 Consideration of Reports and Questions 5 Resolutions 6 CEO Presentation 15 Jupiter Mines | FY24 AGM 3
Slide 4: Introduction & Chair's Address
For personal use only Introduction & Chair’s Address FY24 AGM 4
Slide 5: Consideration of Reports & Questions
For personal use only Consideration of Reports & Questions FY24 AGM 5
Slide 6: Resolutions
For personal use only Resolutions FY24 AGM 6
Slide 7: Resolution 1: Remuneration Report
Resolution 1: Remuneration Report (year ended 30 June 2024) 1 Remuneration Report for the financial year ended 30 June 2024 For personal use only That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, the Remuneration Report contained in the Directors’ Report f
Slide 8: Resolution 2: Re-election of Bo Sung (Ben) Kim
Resolution 2: Re-election of Bo Sung (Ben) Kim 2 Re-election of Bo Sung (Ben) Kim as a non-executive Director of the Company For personal use only That Bo Sung Kim, being a director of the Company who retires in accordance with article 11.7 of the Constitution and ASX Listing Rule 14.4 and, being el
Slide 9: Resolution 3: Election of Sally Langer
Resolution 3: Election of Sally Langer 3 Election of Sally Langer as a non-executive Director of the Company For personal use only That Sally Langer, being a director of the Company who retires in accordance with article 11.3 of the Constitution and ASX Listing Rule 14.4 and, being eligible, offers
Slide 10: Resolution 4: Approval of Incentive Plan
Resolution 4: Approval of Incentive Plan 4 Approval of Incentive Plan For personal use only That, for the purposes of ASX Listing Rules 7.2 (exception 13(b)) and 10.19, sections 200B and 200E of the Corporations Act, and all other purposes, Shareholders approve the Incentive Plan and the issue of up
Slide 11: Resolution 5: Short-Term Incentive Performance Rights
Resolution 5: Approval of Short-Term Incentive Performance Rights Approval of Short-Term Incentive Performance Rights to Brad Rogers for the year ended 30 5 For personal use only June 2024 That, for the purposes of ASX Listing Rules 10.14 and 10.19, sections 200B and 200E of the Corporations Act, an
Slide 12: Resolution 6: Long-Term Incentive Performance Rights
Resolution 6: Approval of Long-Term Incentive Performance Rights Approval of Long-Term Incentive Performance Rights to Brad Rogers for the years ended 30 6 For personal use only June 2023, 30 June 2024 and 30 June 2025 That, for the purposes of ASX Listing Rules 10.14 and 10.19, sections 200B and 20
Slide 13: Resolution 7: Increase non-executive Director fee pool
Resolution 7: Approval to increase the non-executive Director fee pool 7 Approval to increase the aggregate non-executive Director fee pool For personal use only That, for the purposes of ASX Listing Rule 10.17, article 11.9 of the Constitution, and for all other purposes, the maximum aggregate sum
Slide 14: End of Formal Annual General Meeting Matters
End of Formal Annual General Meeting Matters For personal use only Slide Intentionally Left Blank Jupiter Mines | FY24 AGM 14
Slide 15: CEO Presentation
For personal use only CEO Presentation FY24 AGM 15
Slide 16: CEO Presentation: FY24 Results Overview
For personal use only CEO Presentation FY24 Results Overview Jupiter Mines | FY24 AGM 16
Slide 17: Tshipi delivered a strong operational result in FY24
Tshipi delivered a strong operational result in FY24, with earnings in line with a mostly low manganese price (noting elevated prices in Q4). Tshipi Sales and Production (Mt, financial years) 1 3 …outstanding ESG performance….. 3.7 For personal use only Sales Production LTIFR (Tshipi, columns), Aust
Slide 18: FY25 has commenced with very strong operational delivery
FY25 has commenced with very strong operational delivery, while manganese prices have improved by +8% in the last month. Manganese Production (Millions of Tonnes) Manganese Sales (Millions of Tonnes) 1 2 4.8 For personal use only 5.0 4.5 4.3 4.2 4.5 4.0 3.7 Q1 FY25 saw very 4.0 3.7 3.5 strong 3.5 3.
Slide 19: Jupiter declared dividends of 1.2cps in FY24
Jupiter declared dividends of 1.2cps in FY24, notwithstanding muted manganese prices. Jupiter Dividends Since IPO vs Current Share Price JMS Share Price (Current) and DPS (A$) For personal use only $0.250 Dividends per Share (Cumulative since IPO), $0.200 $0.203 Current Share Price, $0.145 $0.150 $0
Slide 20: Share price correlated with the manganese price
Jupiter’s share price is correlated with the manganese price, which provides investment opportunity through the cycle. Jupiter Share Price since 2018 (Blue Line, LHS) vs Manganese Price (Gold Line, RHS) $0.45 $8.00 Mn Price - FOB PE US$/dmtu For personal use only JMS Share Price (A$/share) $0.40 • T
Slide 21: FY24 delivery against priorities
FY24 saw delivery against all priorities identified in last year’s AGM presentation. FY23 AGM Guidance: FY24 Focus FY24 Delivery For personal use only 1 Next dividend declaration due February 2024 (covering 10 months of Tshipi trading). Dividends Interim dividend (1cps) and a final dividend (0.2cps)
Slide 22: CEO Presentation: Market Update
For personal use only CEO Presentation Market Update Jupiter Mines | FY24 AGM 22
Slide 23: Growth expected in global long steel production
Next year is expected to see growth in global long steel production, for the first time since FY21. Long Steel Production (China, Global) (LHS, Mt) and Year on Year Growth (Global Production (RHS) For personal use only Financial Years Ended 30 June 1200 12% • Long Steel production (a key 10% driver
Slide 24: Mn supply expected to regulate to average or lower levels
Given prevailing Mn ore prices, Mn supply is expected to regulate to average (or lower) levels in the near term. Mn Ore Exports (South Africa, ROW) (Mt, LHS) & South Africa Share of Total (%, RHS) CY19 - CY23, Q1 CY24 - Q3 CY24 (Annualised), Oct 24 (Annualised) For personal use only 50 70% • Mangane
Slide 25: Manganese ore stockpiles in China above average
Manganese ore stockpiles in China are above average levels currently, due to weak demand conditions (and elevated supply) in Q3 CY24. Mn Price (US$/dmtu, FOB, 37% Mn PE) (Line, LHS) and Chinese Port Stockpiles (Millions of Tonnes at Port) (Columns, RHS) For personal use only Jan 2021 - August - 2024
Slide 26: Analysts expect manganese ore prices to improve
Most analysts expect manganese ore prices to improve from current levels, for the first 6 months of CY 2025. Manganese Ore Prices (US$/dmtu, FOB, 37% Mn PE) FY19 - FY24 (Actuals), July 2024 - Oct 2024 (Actuals), 1H CY25 (Forecast) For personal use only $6.00 Actuals/Ave Low Forecast High Forecast Av
Slide 27: CEO Presentation: Strategy Recap and Update
For personal use only CEO Presentation Strategy Recap and Update Jupiter Mines | FY24 AGM 27
Slide 28: Jupiter's strategy to sustainably grow
Jupiter has a strategy to sustainably grow, focused on a planned increase in manganese production, ongoing operating efficiency and (potentially) entering the battery manganese market. FIVE YEAR STRATEGY For personal use only FY2023 – FY2028 FITTEST IN THE FIELD INDUSTRY LEADER SUSTAINABLY UPCYCLE (
Slide 29: The context settings for our strategy still hold true
The context settings for our strategy still hold true. A Tshipi Operations B Jupiter Mines C Manganese Market For personal use only Tshipi is one of the world’s best manganese operations. Jupiter’s dividend payment performance is More manganese ore will be needed over the valued by investors. coming
Slide 30: Work on all elements of the strategy is progressing
Work on all elements of the strategy is progressing. A detailed strategy update will be provided this quarter. 1 2 3 4 For personal use only FITTEST IN THE FIELD INDUSTRY LEADER SUSTAINABLY UPCYCLE (Efficiency) (Growth) EMPOWERED (EV Batteries) (ESG) • Logistics continues to be a key • Planning work
Slide 31: Investor Value Proposition & FY25 Focus
For personal use only CEO Presentation Investor Value Proposition & FY25 Focus Jupiter Mines | FY24 AGM 31
Slide 32: Largest pure play listed manganese miner in the world
Jupiter is the largest pure play listed manganese miner in the world, with a dividend track record, exposure to manganese price upside and a compelling strategy to grow. Commitment to dividend 1 2 3 For personal use only + Growth Upside… + Manganese Price Upside. policy… JMS Five Year Growth Target:
Slide 33: FY25 Focus
FY25 Focus: continuing operational success, material strategic progress, supported by the Jupiter’s expanded communications efforts. For personal use only 1 Reliable Continuing outstanding operational track record of reliable safety and production outcomes, Operations underpinning sound returns to J
Slide 34: For more information contact
For personal use only For more information contact: Investor Relations @ Jupiter investorrelations@jupitermines.com 34