Pls Group Limited · ASX:PLS
Pls — Pilbara Minerals — Q2 FY2025 Earnings Presentation
22 slides from Pls's earnings presentation, Jan 29, 2025
Slide 1: December Quarter FY25 Activities Presentation
29 January 2025 December Quarter FY25 Activities Presentation ASX:PLS
Slide 2: A global lithium materials supplier
A global lithium materials supplier Operate 100% ownership of Tier 1 asset with ~33 year mine life1 Grow Pilgangoora P1000 Project expansion well advanced with P850 operating model2 implemented to reduce costs Chemicals Integration into battery materials supply chain via POSCO JV and Ganfeng study3
Slide 3: Mission and strategy
Mission and strategy Our ambition To be a leader in the provision of sustainable battery materials products Strategic pillars Operate Grow Chemicals Diversify Deliver our operating Achieve full Extract greater Diversify revenue performance potential of the value along the battery beyond the commitme
Slide 4: December Quarter – key outcomes
December Quarter – key outcomes Solid operational performance as expansion programs progress Production Sales Costs 188k dmt 204k dmt $621/t produced shipped Unit operating costs (FOB) Revenue Grow Diversify P1000 Project $216m construction complete Latin Resources shareholders and the – wet commiss
Slide 5: Health and safety
Operate Grow Chemicals Diversify Health and safety Building the culture, systems and processes to ensure everyone goes home safely every day 3.58 2.39 2.65 Total recordable Serious Injury Quality safety interactions injury frequency Frequency rate2 completed per 1,000 hours rate (TRIFR)1 worked3 1.
Slide 6: Production
Operate Grow Chemicals Diversify Production Performance in line with plan as P850 operating model implemented • Another strong operational quarter with production of 188.2k dmt. o Production lower than prior Quarter due to the Ngungaju plant being placed into care and maintenance (C&M) and ramp-up o
Slide 7: Projects
Operate Grow Chemicals Diversify Projects Project delivery continues to be on schedule and on budget P1000 expansion • P1000 Project remains on schedule and budget. o ~95% complete at end of December Quarter. o Construction completed in January. • Commissioning currently being undertaken following t
Slide 8: POSCO chemical processing plant
Operate Grow Chemicals Diversify POSCO chemical processing plant Ramp up progressing to plan 18% Equity interest in a joint venture with POSCO for a 43,000 tpa two train lithium hydroxide monohydrate (LHM) facility in Gwangyang, South Korea. Call option to increase to 30%. Train 1 ramp up continues
Slide 9: Latin Resources acquisition approved
Operate Grow Chemicals Diversify 1 Latin Resources acquisition approved Diversifying revenue beyond Pilgangoora • On-strategy, counter-cyclical transaction to diversify revenue beyond Pilgangoora. • Pilbara Minerals to unlock Salinas’ potential by de- risking funding and development. • Delivers seco
Slide 10: December Quarter Financials
December Quarter Financials Note: Throughout this presentation, amounts may not add due to rounding 10
Slide 11: Dec Qtr FY25 – vs Prior Quarter
Dec Qtr FY25 – vs Prior Quarter Production volume and unit costs in-line with plan, reflecting the transition to the optimised P850 Operating Model Summary Operational and Financial Metrics Units Dec Q FY25 Sep Q FY25 (%) • Production volume of 188.2kt was 14% lower than the prior Quarter in line wi
Slide 12: H1 FY25 – vs Prior Corresponding Period
H1 FY25 – vs Prior Corresponding Period Production volume and unit costs reflecting the expanded production volume capacity and cost efficiency of the P680 project Summary Operational and Financial Metrics Units H1 FY25 H1 FY24 (%) • Production volume of 408.3kt was 28% higher than the prior corresp
Slide 13: Dec Qtr FY25 – Cash Flow Bridge
Dec Qtr FY25 – Cash Flow Bridge Cash declined largely due to planned capital expenditure Cash flow bridge – 30 September 2024 to 31 December 2024 170 • Cash balance at 31 December 2024 remains strong at $1.2B. 100 • Total cash outflow of $182M resulting in cash declining from 1,353 (178) $1.4B to $1
Slide 14: H1 FY25 – Cash Flow Bridge
H1 FY25 – Cash Flow Bridge Positive cash margin from operations notwithstanding low average realised prices Cash flow bridge – 30 June 2024 to 31 December 2024 • Cash balance at 31 December 2024 remains strong at $1.2B. 439 • Total cash outflow of $455M resulting in cash declining from $1.6B to $1.2
Slide 15: Market Update
o Pilbara Minerals Market Update 15
Slide 16: Strong growth fundamentals
Strong growth fundamentals 2024 achieved record EV and ESS sales Global EV sales (million units)1 90 80 70 Strong EV global growth 60 • 17.1M EV sales in 2024 representing 23% YoY growth1. 50 • EV sales forecast 19% YoY growth in 2025 and CAGR of 17% to 20301. 40 30 Industry Emergence 20 • Strong st
Slide 17: Questions
o Pilbara Minerals Questions 17
Slide 18: Contacts
Contacts Investor Relations James Fuller Group Manager Investor Relations T: +61 (0) 488 093 763 James.Fuller@pilbaraminerals.com.au Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 18
Slide 19: Appendices
o Pilbara Minerals Appendices 19
Slide 20: Physicals summary
Physicals summary Total Ore Mined and Processed Units Dec Q FY24 Mar Q FY24 Jun Q FY24 Sep Q FY25 Dec Q FY25 H1 FY24 H1 FY25 Ore mined wmt 1,618,748 1,535,521 1,841,748 1,388,698 1,191,453 3,029,765 2,580,151 Waste material wmt 7,965,907 7,761,304 7,407,146 8,078,567 5,728,569 15,706,969 13,807,137
Slide 21: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (“Pilbara” or “Pilbara Minerals” or the “Group”) and is dated 29 January 2025. This document should be read in conjunction with the ASX announcement titled “December Quarterly Activities Report” released to the ASX on 29 J
Slide 22: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves and P1000 and P2000 Projects Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation in respect of the P1000 (and P850 operating model) and P2000 proj