Pls Group Limited · ASX:PLS
Pls — Q1 FY2027 Earnings Presentation
29 slides from Pls's earnings presentation, Oct 28, 2026
Slide 1: September Quarter FY27 Activities Presentation
September Quarter FY27 Activities Presentation rsonal use only 28 October 2026 ASX: PLS
Slide 2: Positioned for value creation through the cycle
Positioned for value creation through the cycle Disciplined operational execution, strategic flexibility and financial strength to navigate market cycles rsonal use only Strategically positioned exposure to established and diversified supply chains with flexible operating platform P-PLS Chemical Fac
Slide 3: September Quarter highlights
September Quarter highlights Strong operational outcomes and strategic delivery rsonal use only Production Pricing1 (SC5.2) Revenue2 267.6kt US$1,809/t A$563M Produced (SC5.3) (SC6.0 US$2,077/t) Group revenue Costs3 P2000 expansion FID approved4 Power agreement signed5 A$539/t ~2Mtpa A$15-20/t (US$3
Slide 4: Health and Safety
Health and Safety Building the culture, systems and processes to ensure everyone goes home safely every day rsonal use only 2.36 10.29 (previous quarter 9.92) Total recordable injury frequency rate (TRIFR)1 Quality safety interactions completed per site leader over 12-month rolling period2 1. Record
Slide 5: Pilgangoora Operation
Pilgangoora Operation Record production underpinned by strong Pilgan performance and Ngungaju restart rsonal use only Key outcomes in the September Quarter performance: Mining TMM increased to 11.5 million tonnes, while ore mined totalled 1.5 million tonnes, supporting production requirements across
Slide 6: Diversifying revenue – Colina Project, Brazil
Diversifying revenue – Colina Project, Brazil Expanding tenure as studies progress rsonal use only Colina Project • Study activities continued including drilling, test work and flowsheet development with outcomes due December Quarter 2027. • Completed acquisition of Lithium Ionic’s interests in surr
Slide 7: Chemicals
Chemicals Preserving long-term growth optionality and strategic positioning across the lithium value chain POSCO Pilbara Lithium Solution (P-PLS) Lithium Hydroxide chemical rsonal use only facility • 18% interest in lithium hydroxide (LH) facility in Gwangyang, South Korea – operated on a moderated
Slide 8: September Quarter financials
September Quarter financials rsonal use only 8
Slide 9: September Quarter FY27 – vs prior quarter
September Quarter FY27 – vs prior quarter Production growth and cost discipline support strategic delivery Category Units Sep Q FY27 Jun Q FY26 % rsonal use only Production volume kt 267.6 214.3 25 Revenue of $563M was 24% lower, reflecting a Sales volume kt 223.6 249.9 (11) lower average estimated
Slide 10: Balance sheet resilience through the cycle
Balance sheet resilience through the cycle New financing supports PLS funding depth and flexibility Total Cash and Liquidity as at 30 September 2026 Actual v Pro forma (A$M)2 rsonal use only 3,500 • Post September Quarter end, PLS successfully closed its 3,000 US$700M 8.00% Senior Unsecured Notes du
Slide 11: Post Quarter updates
Post Quarter updates rsonal use only 11
Slide 12: Transforming Pilgangoora
Transforming Pilgangoora Investing to unlock value, lower costs and strengthen long-term competitiveness rsonal use only P2000 FID Approved1 Enhancing Infrastructure3 Power purchase agreement4 Unlocking scale and value Improving productivity and efficiency Lowering costs and emissions Incremental ne
Slide 13: The Jimmagunya processing plant
The Jimmagunya processing plant PLS' third major processing facility at Pilgangoora Pilgan Plant P2000 Project key facts1 rsonal use only ~2Mtpa Increases Pilgangoora 10-year average production capacity once at steady state2. ~A$600/t 10-year average unit operating costs (FOB, real)3,4. A$40 – 60M p
Slide 14: Enhancing infrastructure to strengthen Pilgangoora
Enhancing infrastructure to strengthen Pilgangoora Investment to reduce operating costs and improve productivity rsonal use only ~24km Wodgina Road East Great Northern Pilgangoora Highway Operation Access road upgrade Village and supporting Mine services facility infrastructure • Upgrade and seal th
Slide 15: Power purchase agreement with Fortescue
Power purchase agreement with Fortescue 20-year agreement further reduces costs, emissions and supports future growth rsonal use only Pilgangoora Power-related emissions intensity 20 years – minimum 325 GWh p.a. tCO₂-e/MWh | FY23 baseline to FY30 forecast Long-term power agreement Fortescue Green Gr
Slide 16: P2000 – cost competitive and globally significant
P2000 – cost competitive and globally significant Long-life, low-cost, and world scale production rsonal use only Forecast top 10 primary lithium producers (CY30-40)1 Lithium industry cost curve2 (kt LCE) (CY30 All-in Sustaining Cost US$/t LCE basis) 250 200 150 100 Pilgangoora 50 - Q1 Q2 Q3 Q4 Sign
Slide 17: Revised FY27 Guidance
Revised FY27 rsonal use only Guidance 17
Slide 18: Revised FY27 capex guidance
Revised FY27 capex guidance Updated to include PPA capex rsonal use only FY27 FY27 guidance1 Unit Production volume2 NO CHANGE kt Guidance 1,030 – 1,100 Growth $500M growth capex for the P2000 Project in FY27. Unit operating cost (FOB) NO CHANGE A$/t 575 – 625 This includes the previously announced
Slide 19: Market update
Market update rsonal use only 19
Slide 20: Volatility persists as market rapidly expands
Volatility persists as market rapidly expands Short-term market conditions and long-term investment cycles contribute to volatility rsonal use only Spodumene concentrate price Lithium industry cost curve (SC6.0, CIF China basis)1 3,000 (CY26 All-in Sustaining Cost US$/t LCE basis)2 7,500 30,000 1,75
Slide 21: Lithium demand set to triple by 2040
Lithium demand set to triple by 2040 Cost deflation, policy support and supply security are reinforcing energy transition Global average battery pack prices Lithium end-use demand diversification Lithium demand by end-use rsonal use only (US$/kWh)1 (Market share %)2 (Kt LCE)2 1,500 1,474 100% 6.0 1,
Slide 22: Lithium supply faces growing risk of under-delivery
Lithium supply faces growing risk of under-delivery Longer development timelines and project execution risks increase the potential for market deficits rsonal use only Mine development cycles1 CY27 supply downside risks2 Near-term market balance forecast2 Years, discovery to production (LCE Kt) (LCE
Slide 23: Acknowledgement of Country / Questions
Acknowledgement of Country Questions rsonal use only 23
Slide 24: Contacts
Contacts rsonal use only Investor Relations James Fuller Group Manager, Investor Relations T: +61 (0) 488 093 763 [email protected] Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 24
Slide 25: Appendix
ersonal use only ppendix ©®PLS
Slide 26: Physicals summary
Physicals summary rsonal use only Total Ore Mined and Processed Units Sep Q FY26 Dec Q FY26 Mar Q FY26 Jun Q FY26 Sep Q FY27 Ore mined wmt 1,725,478 1,514,444 1,286,891 1,665,782 1,547,632 Waste material wmt 5,978,805 6,627,413 8,603,435 8,514,506 9,994,063 Total material mined wmt 7,704,283 8,141,8
Slide 27: Capital expenditure profile updated to include PPA
Capital expenditure profile updated to include PPA Three year growth and enhancing infrastructure capex Capital expenditure (A$M) rsonal use only 1,385 485 685 630 185 130 900 500 500 FY27 FY28 FY29 P2000 1 Enhancing Infrastructure 2, 3, 4 1. For more information refer to the “PLS approves P2000 FID
Slide 28: Important notices
Important notices rsonal use only This document has been prepared by PLS Group Limited (“PLS” or the “Group”) and is dated 28 October 2026. This document should be read in conjunction with the ASX announcement titled “September Quarterly Activities Report” released to the ASX on 28 October 2026. Not
Slide 29: Important notices
Important notices rsonal use only Reporting of Mineral Resources and Ore Reserves Recipients of this document outside Australia should note that it is a requirement of the Australian Securities Exchange listing rules that the reporting of ore reserves and mineral resources in Australia comply with t