Jupiter Mines Limited · ASX:JMS
Jupiter Mines — Shareholder Meeting (November 2023)
37 slides from Jupiter Mines's shareholder meeting presentation, Nov 30, 2023
Slide 1: Annual General Meeting
For personal use only 1 Annual General Meeting 30 November 2023 Perth | Annual General Meeting Presentation
Slide 2: Meeting Agenda
For personal use only JUPITER MINES LTD | jupitermines.com 2 Introduction and Chairman’s Address 4 Meeting Agenda Consideration of Reports and Questions Resolutions 5 6 CEO Presentation 13
Slide 3: Disclaimer
Annual General Meeting | Disclaimer 3 Disclaimer For personal use only This presentation is provided for information purposes only. The information in management's current expectations and beliefs and are subject to a number this presentation is in a summary form, does not propose to be complete and
Slide 4: Introduction and Chairman's Address
For personal use only Annual General Meeting | Introduction and Chairman’s Address 4 Introduction and Chairman’s Address
Slide 5: Consideration of Reports and Questions
For personal use only Annual General Meeting | Consideration of Reports and Questions 5 Consideration of Reports and Questions
Slide 6: Resolutions
For personal use only Annual General Meeting | Resolutions 6 Resolutions
Slide 7: Resolution 1: Remuneration Report (year ended 28 February 2023)
Annual General Meeting | Resolutions 7 Resolution 1: Remuneration Report (year ended 28 February 2023) For personal use only 1 Remuneration Report for the financial year ended 28 February 2023 That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, the Remunerat
Slide 8: Resolution 2: Remuneration Report (four-month period ended 30 June 2023)
Annual General Meeting | Resolutions 8 Resolution 2: Remuneration Report (four-month period ended 30 June 2023) For personal use only 2 Remuneration Report for the financial period ended 30 June 2023 That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, the Re
Slide 9: Resolution 3: Re-election of Scott Winter
Annual General Meeting | Resolutions 9 Resolution 3: Re-election of Scott Winter For personal use only 3 Re-election of Mr Scott Winter as a non-executive director of the Company That, for the purposes of ASX Listing Rule 14.4, article 11.7 of the Constitution, and for all other purposes, Mr Scott W
Slide 10: Resolution 4: Appointment of new Auditor
Annual General Meeting | Resolutions 10 Resolution 4: Appointment of new Auditor For personal use only 4 Appointment of new Auditor That, subject to receiving ASIC’s consent under section 329(5) of the Corporations Act for Grant Thornton Audit Pty Ltd to resign as auditor of the Company, for the pur
Slide 11: Resolution 5: Approval of the Issue of New Shares
Annual General Meeting | Resolutions 11 Resolution 5: Approval of the Issue of New Shares For personal use only 5 Approval of the Issue of new shares to Mr Scott Winter, Non-Executive Director That, for the purposes of ASX Listing Rule 10.11, and for all other purposes, the Company be approved to is
Slide 12: Resolution 6: Approval of the Issue of Performance Rights
Annual General Meeting | Resolutions 12 Resolution 6: Approval of the Issue of Performance Rights For personal use only 6 Approval of the Issue of performance rights to Mr Brad Rogers, CEO and Managing Director That, for the purposes of ASX Listing Rule 10.11, section 200E of the Corporations Act, a
Slide 13: CEO Presentation
For personal use only Annual General Meeting | CEO Presentation 13 CEO Presentation
Slide 14: A. Results Overview
For personal use only Annual General Meeting | CEO Presentation 14 CEO Presentation | A. Results Overview
Slide 15: Tshipi delivered a strong earnings performance in FY23
Annual General Meeting | CEO Presentation 15 Tshipi delivered a strong earnings performance in FY23, particularly given manganese prices and shipping rates. 1 3 Tshipi continued its outstanding ESG performance. …while shipping rates remained elevated. For personal use only Average Shipping Rate (AUD
Slide 16: Jupiter declared another solid dividend at the end of FY23
Annual General Meeting | CEO Presentation 16 Jupiter declared another solid dividend at the end of FY23, continuing its outstanding dividend payment track record. Jupiter Dividends as a % of Market Capitalisation $400 120% For personal use only Cumulative Dividends Declared (A$m) 108% 1. Jupiter has
Slide 17: Interim period saw continuation of stable operations at Tshipi
Annual General Meeting | CEO Presentation 17 The interim reporting period (4 months ended 30 June 2023) saw a continuation of stable operations at Tshipi. 1 Manganese production in line with trend… 2 ...along with manganese sales… For personal use only Manganese Production (Millions of tonnes) Manga
Slide 18: B. Strategy Recap and Update
For personal use only Annual General Meeting | CEO Presentation 18 CEO Presentation | B. Strategy Recap and Update
Slide 19: Jupiter's strategy is founded on an assessment of strategic context
Annual General Meeting | CEO Presentation 19 Jupiter’s strategy is founded on an assessment of our strategic context. A Tshipi Operations B Jupiter Mines C Manganese Market For personal use only Tshipi is one of the world’s best manganese Jupiter’s dividend payment performance is valued operations.
Slide 20: Manganese market is constructive for growth over the long term
Annual General Meeting | CEO Presentation 20 Over the long term, the manganese market is constructive for growth, with demand growth and supply contraction expected. …due to continuing growth from steel and new demand from 1 More manganese ore supply will be needed… 2 EV batteries. For personal use
Slide 21: High growth in battery grade manganese demand
Annual General Meeting | CEO Presentation 21 High growth in battery grade manganese demand will contribute to overall manganese demand, while presenting potential downstream opportunities. Forecast high growth in demand for …combined with a predominance of …will contribute to Mn demand growth 1 2 3
Slide 22: South Africa has the clearest opportunity to increase export volumes
Annual General Meeting | CEO Presentation 22 Already the leading manganese supplier, South Africa has the clearest opportunity to increase export volumes… Manganese Ore Market Share (% of Global Production, Reserves) For personal use only 80% 73% Reserves 70% Reserves 60% Clear leaders in global Pro
Slide 23: Significant production and endowment of major KMF mines
Annual General Meeting | CEO Presentation 23 …due to the significant production and endowment enjoyed by the major KMF mines, including Tshipi. Mine Production Mine Life Distance from Ownership 1. Significant production: the nine mines (order: South to North) (Mt, 2022) (years to go) Tshipi shown pr
Slide 24: Tshipi mine location and neighbourhood
Annual General Meeting | CEO Presentation 24 Tshipi mine location and neighbourhood. For personal use only
Slide 25: Aim to be the largest manganese producing company by 2028
Annual General Meeting | CEO Presentation 25 We aim to be the largest manganese producing company in the world by 2028, while sustaining and improving our customer, ESG and shareholder return outcomes. For personal use only
Slide 26: Strategies to improve efficiency, grow production and enter EV battery market
Annual General Meeting | CEO Presentation 26 We will achieve these objectives through strategies to improve operating efficiency, grow production volume and enter the EV battery market, while being accountable to a new ESG framework. For personal use only
Slide 27: To achieve our strategic objectives, we'll need to...
Annual General Meeting | CEO Presentation 27 To achieve our 5 year strategic objectives, we’ll need to… Largest manganese producers (by equity production) 1 Increase our 5 …as well as grow earnings in line with production (by For personal use only owned Mn 6 circa 3x in the next 5 years) whilst main
Slide 28: Executing our plan strategies
Annual General Meeting | CEO Presentation 28 …by executing our 5 year plan strategies. Benefit from Jupiter Business Benefit Link to Strategy Objectives Strategy use only Margin CO2 / Robust Date (Est) Revenue Risk Diversify Mn Leader Reliable Responsible % Energy Returns Logistics 1 Mar 24 + Fittes
Slide 29: Value accretive capital management objectives and strategies
Annual General Meeting | CEO Presentation 29 In executing the plan, we’ll be focused on value accretive capital management objectives and strategies. Capital Management Objectives Capital Management Strategies For personal use only 1 Maintain strong dividends (>70% payout ratio) 1 Acquire producing
Slide 30: Work on all elements of the strategy is underway
Annual General Meeting | CEO Presentation 30 Work on all elements of the strategy is underway, with recent important updates provided (and more to come). 1 Fittest in the Field 2 Industry Leader For personal use only Work on all initiatives is progressing. Planning work for optimising Tshipi’s produ
Slide 31: Inaugural Sustainability Report on track for January 2024
Annual General Meeting | CEO Presentation 31 Jupiter’s inaugural Sustainability Report is on track to be completed in January 2024. For personal use only 1. Jupiter is on track to complete its inaugural Sustainability Report by the end of January 2024. Jupiter has recently released its 2024 ESG Prio
Slide 32: Potential to supply EV battery grade manganese appears promising
Annual General Meeting | CEO Presentation 32 The potential for Jupiter to supply EV battery grade manganese appears promising and attractive. 1. Jupiter has successfully produced a sample of EV battery industry For personal use only compliant, battery grade, manganese. The sample was produced using
Slide 33: C. Investor Value Proposition and FY24 Focus
For personal use only Annual General Meeting | CEO Presentation 33 CEO Presentation | C. Investor Value Proposition and FY24 Focus
Slide 34: Based on dividend track record, share price is undervalued
Annual General Meeting | CEO Presentation 34 Based on its dividend track record and policy, Jupiter’s share price is undervalued… Jupiter has paid an average of A$44m p.a in dividends over the Based on ASX valuation norms (and its dividend history) 1 2 past 3 years. Jupiter’s share price should be d
Slide 35: Underpinning a compelling investor value proposition
Annual General Meeting | CEO Presentation 35 …underpinning a compelling investor value proposition. Commitment to continuing to pay strong 1 2 + Growth Upside… 3 + Manganese Price Upside. dividends… For personal use only JMS Five Year Growth Target: Mn Ore Production (Equity Share) Manganese Price T
Slide 36: FY24 Focus: Near Term Dividend and Strategy Deliverables
Annual General Meeting | CEO Presentation 36 FY24 Focus: Near Term Dividend and Strategy Deliverables For personal use only 1 Next dividend declaration due February 2024 (covering 10 months of Tshipi trading). Dividends Continuing established policy of a minimum payout of 70% of Tshipi dividends rec
Slide 37: For more information contact
For personal use only 37 For more information contact: Investor Relations @ Jupiter investorrelations@jupitermines.com JUPITER MINES LTD | jupitermines.com