Saudi Arabian Mining Co. · TADAWUL:1211
Saudi Arabian Mining — Q2 2022 Earnings Presentation
24 slides from Saudi Arabian Mining's earnings presentation, 2022
Slide 1: Saudi Arabian Mining Company (Ma'aden) Q2 2022 Results
MAADEN > UaLop Saudi Arabian Mining Company (Ma’aden) Investor Presentation — Q2 2022 Results
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: Robert Wilt and Louis Irvine presenters
f Robert Wilt Louis Irvine Chief Executive Officer Chief Financial Officer ADEN ab MAADEN @ Galop
Slide 4: Ma'aden — A Unique Investment Opportunity in Global Mining
MA'ADEN — A UNIQUE INVESTMENT OPPORTUNITY IN GLOBAL MINING Diversified portfolio of long- life, multi-commodity assets * Global leader in fertilizer production * World's lowest cost integrated aluminium value chain * Operating six gold mines across KSA * Global customer base (serving markets across
Slide 5: Overview
MAADEN Pry uaLeo Al Jalamid phosphate mine
Slide 6: Strong Q2 Performance and Record H1
STRONG Q2 PERFORMANCE AND RECORD H1 Supported by strong volumes, sales and market dynamics Record Revenue, Profit and Earnings per Share i= SALES EBITDA Continued to deleverage balance sheet SAR 11.9 bn SAR 6.9bn +95%* +149%* Ammonia 3 completed - commercial production Q2 22 commenced ESG targets in
Slide 7: Key Strategic Enablers
KEY STRATEGIC ENABLERS Growth AZ Organizational O Core Business € ap s faye Health 0 £53 Performance WS * Leveraging KSA‘s natural mineral * Implementing new performance led * World-class asset base wealth to build the third pillar of the operating model — structure, systems . . a Saudi economy andl
Slide 8: Building a Sustainable Mining Champion
BUILDING A SUSTAINABLE MINING CHAMPION Integrating sustainability into all business operations as we progress towards our 2040 ESG goals Key Projects and Partnerships Developing Schools of Excellence Developing two high schools in partnership with the Ministry of Education, providing quality educati
Slide 9: Dividends per share
0.40 0.37 0.30 0.22 0.20 0.20 0.11 0.08 0.10 0.00 2019 2020 2021 Q1 2022 Q2 2022 • •
Slide 10: Financial
_— 4 FINANCIAL Louis Irvine Chief Financial Officer >
Slide 11: A Period of Outstanding Results
A PERIOD OF OUTSTANDING RESULTS Record Revenue, Profit and EPS; Significant improvement on both YoY and QoQ basis (SAR million) wn Highlights * Increasing production volumes driving operating profit ° Operating profit margin of 42.4% in H1 22 vs 23.02% in F750 | * Strong revenue growth EPS (SR) +232
Slide 12: H1 EBITDA increased 128% YoY
H1 22 EBITDA increased 128% YoY (SAR million) Raw material increases: Increases in: ta - Caustic soda - Metal alloy MAC i H - Coke - Movement in inventory & Highlights = - Molten sulfur other input costs ——______—. | 0 7,220 1,354 -788 - -1,233 17 224 . 4,943 EBITDA Price Cost Others? Sub-total Volu
Slide 13: Strong Cash Generation
STRONG CASH GENERATION (SAR million) D&A up SAR 159 to Includes finance costs + MGBM- SAR 530 SAR 2,439 (up SAR 16), zakat & + MWSPC — SAR 333 income taxes + MPC-SAR 137 2,851 oo a 15508 a " -2,992 -1,040 — -1,183 -252 9,107 Cash at Income Non Cash Change in others, Cash after Capital Others, Jan 1,
Slide 14: Deleveraging of Balance Sheet and Reducing in Net Debt
DELEVERAGING OF BALANCE SHEET AND REDUCING IN NET DEBT Debt & Borrowing (SAR billion) Q121 Q221 Q3 21 Q4 21 Q122 Q2 22 lm Long-term Borrowing jj Net debt Net Debt/EBITDA reduced to 1.8x (SAR billion) Consolidated 75 Total inventory , Trade Receivables P. 25 Trade Payables Days Working Capital Cash C
Slide 15: Fertilizers
FERTILIZERS The Fertilizers segment contributed circa 65% of sales and 75% of EBITDA Financial performance i Highlights El 7.912 l .! .§ O Pre-commercial production at Ammonia 3 * MWSPC remediation project nearing completion 5,353 * Improved commodity prices and higher sales volumes Realized prices
Slide 16: Aluminium
ALUMINIUM The Aluminium segment contributed circa 30% of sales and 21% of EBITDA Financial performance Q222 Highlights El * Increased prices across all product lines, partially offset by cost inflation 3.392 ° Margins affected by higher raw Production performance material costs ° Lower average price
Slide 17: Gold & Base Metals
GOLD & BASE METALS The Gold and Base Metals segment contributed circa 6% of sales and 4% of EBITDA Financial performance EE O33 Production performance mm Ea = 39% 49% joao Eg Copper (KM 41 Sales volumes — To Market 82 82 7% Copper (KM a a Highlights El * Stable turnover but margins impacted by highe
Slide 18: Slide 18
Slide 19: Near Term Growth Projects
NEAR TERM GROWTH PROJECTS Phosphate 3 | Ar-Rujum ° Phase 1-2025 © = 200k ounces per annum © Phase 2-2027 3 MN tons per annum © 2022 2025 2026 © © © ‘O) _ Mansourah-Massarah i Mahd Ad Dhahab Expansion H 250k ounces per annum © = 200k ounces per annum Ammonia 3 complete 1.1 MN tons per annum * Constru
Slide 20: Strong Exploration Focus
STRONG EXPLORATION FOCUS Saudi Mining Champion — A Unique Opportunity * 19,000 km? held under exploration license and 11,300 km? under application Ambitious exploration agenda with the potential to unlock KSA’s endowment... Umm Wal . New minerals and aggressive scale-up in current minerals — gold, c
Slide 21: Production Forecast 2022
PRODUCTION FORECAST 2022 P205 xr -5% +5% Ammonia wr -5% + 5% Alumina KMT 5h +5% PRODUCTION AND CAPEX Primary uss on GUIDANCE aluminium Casthouse kr -5% +5% Flat Rolled = kw -5% +5% Gold oz -5% +5% Copper — kur 54 +5% CAPEX GUIDANCE Sustaining -5% +5% Growth -3% +o% MAADEN @ Walon
Slide 22: 2022 Outlook
2022 OUTLOOK Fertilizer War premium dissipated but supply constraints keep phosphate prices elevated; high gas prices impacting European output. Low supply levels globally providing near-term support; Higher input costs driving higher phosphate prices. Aluminium CO Slowing US and European economic a
Slide 23: Robert Wilt and Louis Irvine
Robert Wilt Louis Irvine Chief Executive Officer Chief Financial Officer > MAADEN @ Galop
Slide 24: Thank You
THANK YOU
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