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1 February 2025 • Investor Presentation • ASX:OMH | Bursa:OMH (5298) OM HOLDINGS LIMITED Australia • China • Japan • Malaysia • Singapore • South Africa For personal use only
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DISCLAIMER This presentation has been prepared and issued by OM Holdings Limited ARBN 081 028 337 (“OMH”). This presentation contains summary information about OMH. The information in this presentation does not purport to be complete or to provide all information that an investor should consider when making an investment decision. It should be read in conjunction with OMH‘s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange which are available at www.asx.com.au. This presentation contains "forward‐looking" statements within the meaning of securities laws of applicable jurisdictions. Forward‐looking statements can generally be identified by the use of forward‐looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward‐looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of OMH, and its directors, officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward‐looking statements and the assumptions on which those statements are based. Readers are therefore cautioned not to place undue reliance on forward‐looking statements and OMH, other than required by law, assumes no obligation to update such information. OMH makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions from, any information, statement or opinion contained in this presentation. This presentation is for information purposes only and is not a financial product or investment advice or a recommendation to acquire (or refrain from selling) OMH shares. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. OMH is not licensed to provide financial product advice, either generally or in respect of OMH shares. 2 For personal use only
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3 Q4 KEY UPDATES AND FY25 PRODUCTION GUIDANCE (1) FY2019 - FY2021 OMQ + OM Sarawak production volume. FY2022 onwards purely OM Sarawak production volume. OM Sarawak was awarded the champion for the prestigious Diamond Award under the Large enterprise category at the Bintulu Sustainability Awards 2024 ceremony FY24 production volumes marginally exceeded upper guidance by 3% Full commercial production of silicon metal contingent on strategic view. Both silicon metal furnaces converted to FeSi production Repaid US$12.4m to Project Finance Lenders 264 217238 294 318 270 - 300 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025F Mn Alloy Production Volume(1) (kmt) 131 140 140 167 190 170-190 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025F FeSi Production Volume (kmt) • Mine remains under care and maintenance with rehabilitation works progressed as planned, with a focus on repairing damaged landforms caused by higher-than-expected rainfall. • Planned trial production progressing well, with a second trial planned in early Q1 2025 to achieve desire feed throughputs and grades following further optimization works. • 14 out of 16 furnaces have completed major maintenance. Remaining 2 FeSi furnaces to undergo major maintenance works in 2025. • Preliminary FY25 production guidance of 435-450 ktpa. • Both silicon metal furnaces have been switched to produce FeSi to ensure optimal returns and maximize furnace utilization. Exploration and Mining (Mn Ore) Smelting (FeSi and Mn Alloy) For personal use only
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0 100 200 300 400 500 600 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Chinese FeSi Production 4 FERROSILICON MARKET REVIEW Prices range bound given Chinese cost, with potential catalysts from Russian output Source: S&P Global Platts, CNFEOL FeSi USD/mt Production (‘000s mt) 12M 2024 Avg FeSi: $1,271.58 / mt (-11.5% YoY) China remains as marginal suppliers to the market, but 2024 may be influenced by the outcome of the attempt to nationalize Russia’s largest ferrosilicon producer. FeSi prices rangebound with prices closed at $1,185/mt CIF Japan at the end of December 2024. YoY FesSi prices declined by 11.5%. Outlook: Continued near term pressure, absence of Russian ferrosilicon from markets will eventually catalyze price recovery. Relatively fixed input costs, earnings correlate well with absolute prices Prices follow typical commodity price cycles For personal use only
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0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 $0 $500 $1,000 $1,500 $2,000 $2,500 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 5 MANGANESE ORE AND ALLOY MARKET REVIEW Mn alloy prices restabilizing after volatility from upstream ore prices Source: Fastmarkets MB, S&P Global Platts, the IMnI, and CNFEOL Manganese Ore Index Chinese Ports Ore Inventory SiMn USD/mt Ore Inventory (millions mt) Japan SiMn Index 12M 2024 Avg Mn Ore : $5.55 / dmtu (+16.8% YoY) 12M 2024 Avg SiMn : $979 / mt (+1.9% YoY) Mn Ore prices closed at US$4.08/dmtu as of end December, a continuous price correction following the surge in April due to a force majeure of a key global supplier. SiMn price increased slightly to close at $885/mt CIF Japan in December with higher quoted ore prices towards the end of Q4. Outlook: Prices normalizing after brief increase catalyzed by manganese ore, before sharply declining. Normalization expected for both ore and alloys. Strong monthly contemporaneous correlation between Mn Ore and Mn alloys “Conversion” margin between ore and alloy prices mean-revert, creating resilience *High Carbon Ferromanganese (HCFeMn) not included due to relatively low liquidity and absence of representative non-Chinese Asian benchmark US$4.76 / dmtu US$9.07 / dmtu For personal use only
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6 OM HOLDINGS LIMITED AUSTRALIA • CHINA • JAPAN • MALAYSIA • SINGAPORE • SOUTH AFRICA For personal use only