Saudi Arabian Mining Co. · TADAWUL:1211
Saudi Arabian Mining — Q2 2024 Earnings Presentation
25 slides from Saudi Arabian Mining's earnings presentation, Aug 12, 2024
Slide 1: Q2-FY24 Results Presentation
MAADEN > UaLop Saudi Arabian Mining Company (Ma’aden) Q2-FY24 Results Presentation August 12, 2024
Slide 2: Disclaimer
DISCLAIMER This presentation contains statements that are, or may be deemed to be, forward looking statements, including statements about the beliefs and expectations of Saudi Arabian Mining Company (Ma‘aden) (the "Company"). These statements are based on the Company's current plans, estimates and p
Slide 3: Presenters
PRESENTERS Bob Wilt Louis Irvine Chief Executive Officer Chief Financial Officer MAADEN Pr uaLop 3
Slide 4: Maintaining momentum with a solid H1-FY24 performance
Maintaining momentum with a solid H1-FY24 performance Revenue EBITDA Net Profit’ sak 14.53bn sak 5.9 1bn sak 210 1bn v-3% A+31% a+160% YoY YoY YoY EPS' Net Debt/EBITDA Op. Cash Flow sak 0.54 2.3x sar 4,2bn a+161% V Q2-FY23: 1.9x v-9% YoY YoY YoY 1; Attributable to equity holders of Ma’aden MAADEN >
Slide 5: H1-FY24 operational highlights
Increased production of Alumina & Primary Aluminium, with margin improvement Gold production improved in H1, with rising trend in prices Phosphate 3 Phase 1 in execution stage Maintaining leverage at adequate levels to support growth Central Arabian Gold Region development Third Typhoon exploration
Slide 6: EHSS Transformation Program underway to ensure company-wide safety culture
EHSS Transformation Program underway to ensure company-wide safety culture Severity Rate —- FY20 to H1-FY24 282 3.97 2020 2021 Continuous 2.50 1.84 1.68 2022 2023 H1-FY24** Leadership & Culture >, Contractor Risk Identification improvement Management & Control on safety | | Management Organization S
Slide 7: Innovation programs enabling a global sustainable mining champion
Innovation programs enabling a global sustainable mining champion — Innovation Programs — ESG Stewardship Water Management J Waste to Value J Renewable Energy Adoption y Low Emission Technologies J Process Hazard Management J Productivity Drive Innovation Mineral Processing J Ore Grade Engineering J
Slide 8: Exploration — a key focus area for the Kingdom's mining champion
Exploration — a key focus area for the Kingdom’s mining champion Progress continues, paving the way for new discoveries Accelerating drilling activities Typhoon™ surveying system New discovery and near-mine exploration 123 236 ~360 km km km drilled in drilled in to be drilled in Q2-FY24 H1-FY24 FY24
Slide 9: Innovating and accelerating mineral discovery with cutting-edge technology
Innovating and accelerating mineral discovery with cutting-edge technology Revolutionizing orebody knowledge & efficiency Smart Seismic Sensors A AES. 2.5km depth \ EES 5x faster target Deep structure Real-time identification insights insights Real-time data High confidence in Combining satellite pr
Slide 10: Financial Results
FINANCIAL RESULTS ‘ : Louis Irvine Chief Financial Officer
Slide 11: Solid H1-FY24 performance with margins improving through cost efficiencies
Solid H1-FY24 performance with margins improving through cost efficiencies 7 . # Insurance claim benefit sa - 2.006 is % Positive impact from absence of one-off industrial utility charges YoY EPS (sar) QoQ 1 ay: Q2-FY24 Q1-FY24 ! (SAR million) — —__—as=it pec Dh om ' ¥ ' . Revenue 7,184 ' Highlights
Slide 12: -260 5,908 4,811 4,496
507 367 223 574 -260 5,908 4,811 4,496
Slide 13: -401 3,439 -1,727 2,889 -6,882 -1,131 19,771 15,571 ,032 11,902
-401 3,439 -1,727 2,889 -6,882 0 143 -1,131 19,771 15,571 13,032 11,902
Slide 14: Continued deleveraging of balance sheet with strong liquidity levels
Continued deleveraging of balance sheet with strong liquidity levels Long-term Borrowing Cash & Cash Equiv. 3yr debt maturity profile* FY20 FY24 FY21 9 P00 FY22 “2h FY28 FY23 —_- FY26 -24% cue pnenaeny H1-FY24 rr — a Net Debt Net Debt/EBITDA Highlights Bi FY20 %) # Long-term borrowings stable * Cash
Slide 15: PHOSPHATE: Healthy margin and stable DAP production QoQ
PHOSPHATE: Healthy margin and stable DAP production QoQ Financial performance rn Highlights = [ on % Stable DAP production QoQ 3,698 4,251 7,949 9,457 % Marginal drop in DAP prices YoY Production volumes Average Realized Prices - DAP & Ammonia (USD/Mt) % Lower Ammonia production due to turnaround ma
Slide 16: -285 -748 4,058 3,956 3,654
-285 183 -748 182 264 4,058 3,956 3,654
Slide 17: ALUMINIUM: Improved margins and stable pricing QoQ
ALUMINIUM: Improved margins and stable pricing QoQ Financial performance 00 roy tee 2,484 2,103 4,587 4,257 EBIT 936 581 Ea 1,518 66 +2,187% *e 2 Ea 2 * Ea Production volumes QoQ YoY oot ~~ Bence Sales volumes *due to rounding Highlights = II % Significantly improved margins QoQ & YoY % Improved pro
Slide 18: ALUMINIUM: Improved volumes, major raw material and net operating costs
ALUMINIUM: Improved volumes, major raw material and net operating costs 259 EBITDA Price ‘Major raw Sub-total Volume H1-23 effect materials costs effect Market led (SAR million) Cost of sales* Business led Others** 1,518 EBITDA H1-24 Highlights =I ® Lower overall prices YoY ® Higher Primary Aluminiu
Slide 19: BASE METALS AND NEW MINERALS: Stable margins, supported by higher prices
BASE METALS AND NEW MINERALS: Stable margins, supported by higher prices Financial performance 00 Lon ra Se Ee Highlights “II yea EES ae # Higher production YoY; Mansourah-Massarah fully operational # Lower production QoQ due to lower grades EBITDA mar} 57% 62% _—? Ea % Sustained higher Gold price Y
Slide 20: -229 -140 1,135 1,023
-229 481 -140 236 1,135 1,023 787
Slide 21: Outlook
OUTLOOK Bob Wilt Chief Executive Officer
Slide 22: A capital allocation strategy geared for expansion
A capital allocation strategy geared for expansion 62028 2027 ¢ 2029 wn ce _ Phosphate 3 Phase 2 - 2029 Phosphate 3 Ar Rjum Phase 1- 2026 3M tons p.a. (1.5M per phase) >300* Koz p.a. : Aluminium 9OKMT p.a. + Line 1&2 expansion ee Aluminium Recycl = 400KMT p.a. Mansourah-Massarah under ground expansi
Slide 23: Robust foundation in place to chart future course
Robust foundation in place to chart future course Production guidance 2024, Unit Lower Upper DAP Equivalent KMT [5,500 ee 5,800 | Ammonia KMT [3,200 donnie 3,400] > 1,800] Aluminium KMT [ 850 +--+ 1,050] Flat Rolled KMT 2 CAPEX guidance* 2024 ————— Unit Lower Upper Sustaining CAPEX SAR (mn) [2,500 S
Slide 24: Bob Wilt, Louis Irvine
Bob Wilt Chief Executive Officer Louis Irvine Chief Financial Officer MAADEN Pr uaLen 24
Slide 25: Ma'aden investor contact
MAADEN rr usleo wRBAGI ALIS. ' ite scare parma TS meres [email protected]
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