Slide 1: Guidance for FY2025 – Bathurst Resources Limited
‘Guidance for BATHURST RESOURCES LIMITED
Slide 2: Disclosure
DISCLOSURE General information This document is authorised for release by the board of directors of Bathurst Resources Limited (“Bathurst”) on the 2 August 2024. Bathurst’s address is Level 12, 1 Willeston Street, Wellington 6011, New Zealand. = General disclaimer This presentation contains forward-
Slide 3: For personal use only
For personal use only 17% Asia 7% New Zealand 51% Australia Europe 19% Other 6%
Slide 4: Safety Journey
SAFETY JOURNEY Reviewed our risk management standard to update critical control _D effectiveness definitions leading to revisions of site HSEC broad brush risk & assessments © Implemented a company-wide learning management system including a ve compliance and effectiveness audit program of our opera
Slide 5: New Zealand's Largest Coal Producer
NEW ZEALAND’S LARGEST COAL PRODUCER Bathurst provides energy for the steel dustry, agri-business sector, schools, Ehospitals and many other key players in the a> economy and society. io) Bathurst is also an exporter of high-quality oal for steel production primarily in Japan, South Korea, India, and
Slide 6: For personal use only
FY 2023 FY 2024 FY 2025 Audited Unaudited Forecast Overburden (kbcm) 4,996 5,418 6,219 For personal use only Production (kt) 1,042 963 940 Sales (kt) 1,197 1,106 1,081 Revenue ($m) 437.4 328.2 299.6 EBITDA ($m) 237.1 123.1 79.7 • • •
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FY 2023 FY 2024 FY 2025 Audited Unaudited Forecast For personal use only Overburden (kbcm) 3,777 6,331 11,615 Production (kt) 365 328 394 Sales (kt) 412 372 427 Revenue ($m) 66.7 64.7 72.7 EBITDA ($m) 19.5 14.4 15.6 • • •
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FY 2023 FY 2024 FY 2025 Audited Unaudited Forecast For personal use only Overburden (kbcm) 1,359 2,358 3,049 Production (kt) 203 182 164 Sales (kt) 215 176 165 Revenue ($m) 25.6 24.6 22.4 EBITDA ($m) 11.1 10.9 7.0 • • •
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FY 2023 FY 2024 FY 2025 Audited Unaudited Forecast Overburden (kbcm) 1,020 789 901 For personal use only Production (kt) 224 235 194 Sales (kt) 233 226 194 Revenue ($m) 24.0 24.8 22.0 EBITDA ($m) 11.7 13.9 10.2 • • •
Slide 10: Financial Measures (NZD)
Financial Measures (NZD) FY 2024 FY 2023 Unaudited Audited Revenue 315.1m 389.0m For personal use only EBITDA 90.8m 166.4m Profit after tax 43.0m 90.5m
Slide 11: FY24 Consolidated Cash Movements
FY24 CONSOLIDATED CASH MOVEMENTS a = (61.5) —— oO (35.6) ® wn =) 141 Cc O 7 (op) FY23 EBITDA Other Tax Telkwa Mining Assets & FY24 — Consolidated PPE Consolidated cab) Cash Cash ok S— Increased tax payments are due to the timing of provisional income tax payments — predominantly the July 2023 paymen
Slide 12: FY25 Consolidated EBITDA Guidance
FY25 CONSOLIDATED EBITDA GUIDANCE "m S55M - S65M 100 (1.3) (2.9) (0.3) FY24 EBITDA Export North Island South Island Telkwa FY25E EBITDA (Unaudited) domestic incl. domestic incl. BT overheads BRL overheads personal use only Export market earnings are forecast to reduce from FY24 levels. Reduction in
Slide 13: Tawhai Tunnel Update
TAWHAI TUNNEL UPDATE stunnel closure occurred 15!" June Cc. . a Cfyucking plan implemented immediately oO | Co Ghipping plan updated to maximise freight capacity =) “#Hles volume reduction limited to 119kt from original @tan O QD. -entry and repairs planned for to start early August oO Reopening dat
Slide 14: Export Market Outlook
For personal use only ‘USD monthly actual export pricing based on a monthly average of the S&P Global Platts Premium Low Vol daily spot pricing. Guidance is the export benchmark pricing assumed in the export segment's EBITDA guidance. Forward curve based on 10 July 2024 S&P Global Platts derivatives
Slide 15: Looking Forward
LOOKING FORWARD BATHURST
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For personal use only Maramarua • • ≈ Canterbury • ≈ Takitimu • ≈
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For personal use only 3.0 2.5 2.0 1.5 1.0 0.5 - FY19 FY20 FY21 FY22 FY23 FY24 FY25E FY26E FY27E Non Steel Domestic Steel Export Steel
Slide 18: Fast Track Approvals Bill
FAST TRACK APPROVALS BILL National + ACT + NZ First coalition Government The bill proposes to establish a permanent fast-track approvals regime for projects of national and regional significance. Status: ¢ Bill introduced to NZ Parliament in March Public submissions closed in May ° Awaiting Select C
Slide 19: Current Indicative Production Tonnes
• • • For personal use only • • • • • • • • • 2.0 Current Indicative Production Tonnes (Mt) (100% Basis) 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 Export North Island
Slide 20: Fast Track Indicative Production Tonnes
For personal use only 2.0 Fast Track Indicative Production Tonnes (Mt) (100% Basis) 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 Export Export - Fast Track North Island North Island - Fast Track
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For personal use only • • • • • • • • • • 1.4 1.2 1.0 0.8 0.6 0.4 0.2 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 South Island Export - Fast Track
Slide 23: For personal use only
• • For personal use only • • • 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 Export - BT Mining - 100% Export - Bathurst - 100%
Slide 24: Maramarua, Canterbury, Takitimu
For personal use only Maramarua Canterbury Takitimu
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Slide 26: British Columbia Projects
BRITISH COLUMBIA PROJECTS Tenas (100%) Pre-tax NPV8 USD $270'm. aw USD 49,70/t cash cost (ex-port) before interest tax Crown Mountain (22%) Pre-tax NPV10 USD $469m?. FOB USD 89.41/t cash cost oO 2) So Mtpa. ine life 22 years. 2.0 Mt reserve, 36.5 Mt resource. 2.0 Mtpa. Mine life 15 years. 575 Mt res
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For personal use only 3.5 3.0 2.5 2.0 1.5 1.0 0.5 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 BRL - Domestic BT Mining - Domestic BRL - Export BT Mining - Export Tenas Crown Mountain Equity Basis – 100 Bathurst, 100 , 65% BT Mining, 50% Crown Mountain
Slide 28: Capital Management
CAPITAL MANAGEMENT BATHURST
Slide 29: Capital Management - Year Horizon
CAPITAL MANAGEMENT - 3 YEAR HORIZON BT Mining JV (65%) Bathurst NZ (100%) I sh held NZD $200+ million icus on NZ Export assets lly Funded ora tension of life rget 400 kt pa idend relies on unanimous JV areholder approval LEC al Bathurst British Columbia Use of BT JV dividends for approvals expenditu
Slide 30: Capital Management Framework
CAPITAL MANAGEMENT FRAMEWORK Strong Balance Sheet Investing in New Zealand Investing in Growth Returns to Shareholders Dividend policy will align Zero Debt Subject to Fast Track Projects in British Columbia with cash generation from legislation Jurisdiction Bathurst 100% owned operations NZ extensio
Slide 31: Bathurst Board of Directors
BATHURST BOARD OF DIRECTORS od Ad For & use only Board members 1. Peter Westerhuis Non-Executive Chairman 2. Richard Tacon Executive Director & Chief Executive Officer 3. Russell Middleton Executive Director & Chief Financial Officer 4. Francois Tumahai Non-Executive Director BATHURST RESOURCES LIMI
Slide 32: Coal Resources
For personal use only Area Escarpment Cascade Deep Creek Coalbrookdale? Whareatea West Sullivan South Buller totals Stockton *5°8? Upper Waimangaroa (Met 5°#? Upper Waimangaroa (Thermal) “” Stockton totals Millerton North North Buller Totals Blackburn North Buller totals Buller Coal Project totals T
Slide 33: Coal Reserves
Coal reserves (ROM) tonnes COAL RESERVES Proved (Mt) Probable (Mt) Total (Mt) Bathurst ROM coal area ownership 2023 2022 Change 2023 2022 Change 2023 2022 Change Whareatea West *” 100% 0.0 0.0 0.0 47 47 0.0 47 47 00 ZDdYeon ABER 65% 02 03 (On) 34 6.0 (26) 3.6 63 Qn Gover Waimangaroa (Met) “*5&" 65%
Slide 34: For personal use only
We ar LIMITED. _— ae BATHURST RESOURCES LIMITED