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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. MITSUI KINZOKU (Mitsui Mining & Smelting Co., Ltd. TSE5706) FY2024 Q3 Results & FY 2024 Forecast February 12, 2025
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. ・ FY2024 Q1-3 YoY : Sales and profits increased due to an increase in sales volume of major products in the Engineered Materials segment, such as MicroThin , in the Metals segment the weak yen and high metal prices led to improved profits, as well as an improvement in inventory factors resulting from these. ・ As for the FY2024 forecast, we expect sales and profits to increase compared to the previous forecast. In the Metals segment, we expect an increase the weaker yen and higher-than -expected metal prices led to improved profits, as well as an improvement in inventory factors resulting from these. 1 Results of FY2024 Q3 （Unit: Billion yen） 2024 2023 Difference 2024 2024 Difference Results Results （24-23） Forecast Forecast （Feb 12） （Nov 8） 525.9 476.5 49.4 710.0 695.0 15.0 10.4% 2.2% 56.2 14.8 41.4 66.0 56.0 10.0 279.8% 17.9% 59.1 27.0 32.2 68.5 55.0 13.5 119.3% 24.5% 52.1 15.2 37.0 57.0 46.5 10.5 243.5% 22.6% Q1-3 Results Forecast Net Sales Operating Income Ordinary Income Net income attributable to owners of parent
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Dividend per share ¥85 ¥110 ¥140 ¥140 ¥165 <Interim Dividend> < - > < - > < - > < ¥70 > < ¥90 > DOE 2.5% 2.6% 3.3% 3.1% 2.8% * Sales and Earnings 522.9 633.3 652.0 646.7 710.0 525.9 21/3 22/3 23/3 24/3 25/3 24/12 51.1 60.7 12.5 31.7 66.0 56.2 51.3 66.0 19.9 44.5 68.5 59.1 44.8 52.1 8.5 26.0 57.0 52.1 21/3 22/3 23/3 24/3 25/3 24/12 Operating Income Ordinary Income Net Income attributable to owners of parent （Unit: Billion yen） Sales Forecast as of February 12 Forecast 2 Breakdown: Ordinary dividends ¥150 Commemorative dividends ¥15 Breakdown: Ordinary dividends ¥75 Commemorative dividends ¥15 *Excluding Commemorative dividends
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. FY2024 Operating Income Forecast For FY2024, Operating income forecast is 66.0 billion yen, it is expected to increase by 10.0 billion yen compared to the previous forecast. 3 Operating Income Forecast for FY2024 (Nov 8th) Operating Income Forecast for FY2024 (Feb 12th) （Unit： Billion yen） FY2024 1st half Forecast for FY2024 2nd half Forecast for FY2024 FY2024 1st half Forecast for FY2024 2nd half Forecast for FY2024 38.8 38.8 56.0 66.0 27.2 17.2 Q4 9.8 See page 4 for details See page 18 for details Q3 17.4 Profit increase by 10.0 billion
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. FY2024 Operating Income Forecast Operating income forecast is expected to increase by 10.0 billion yen from the forecast announced on Nov 8th. 4 （Unit： Billion yen） Operating Income Forecast for FY2024 on Nov 8th Operating Income Forecast for FY2024 on Feb 12th + 6.5 Metals + 4.3 Inventory factors PGM price difference on Catalysts + 0.5 - 0.3 Engineered Materials Corporate & others - 1.0 Mobility 0 ■Main factor ・ Catalysts +1.3 ・ ACT -0.8 ・ Die-Casting -0.1 ■Main factor ・ Copper foil -1.2 ・ Engineered Powders +0.4 ■Main factor ・ Engineered Materials +0.3 ・ Metals +4.0 ■Main factor ・ Subsidiaries +0.4 ・ Business Creation -0.6 ・ Consolidated adjustment etc. -0.8 Profit increase by 10.0 billion ■Main factor ・ LME/Forex +1.8 ・ Energy cost decrease (including cokes) +0.7 ・ Zinc and Lead smelting costs decrease, others +1.1 ・ Improvement in copper smelting operations +1.7 ・ Mineral Resources Div. +0.7 56.0 66.0
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 5 （Unit : Billion yen） '24/Q1-3 '23/Q1-3 Difference 2024 2023 Difference 2024 Difference Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） 525.9 476.5 49.4 710.0 646.7 63.3 695.0 15.0 10.4% 9.8% 2.2% 413.9 410.2 3.7 - - - - - 0.9% 112.0 66.3 45.7 - - - - - 68.9% 55.8 51.5 4.3 - - - - - 8.3% 56.2 14.8 41.4 66.0 31.7 34.3 56.0 10.0 279.8% 108.2% 17.9% 2.9 12.2 -9.3 2.5 12.8 -10.3 -1.0 3.5 59.1 27.0 32.2 68.5 44.5 24.0 55.0 13.5 119.3% 53.9% 24.5% 8.0 -5.8 13.8 6.8 -6.0 12.8 7.0 -0.2 67.1 21.1 46.0 75.3 38.5 36.8 62.0 13.3 217.6% 95.4% 21.5% 14.9 5.9 9.0 18.3 12.6 5.8 15.5 2.8 52.1 15.2 37.0 57.0 26.0 31.0 46.5 10.5 243.5% 119.3% 22.6% Cost of sales Results Forecast Net Sales Net Income before income taxes Income taxes & minority interests Net income attributable to owners of parent Gross Profit SG&A expenses Operating Income Non-operating income/expenses -net Ordinary Income Extraordinary profit/losses-net Statements of income
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 6 Segment Information by Business Unit （Unit: Billion yen） '24/Q1-3 '23/Q1-3 Difference 2024 2023 Difference 2024 Difference ■Sales Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） 116.3 91.3 25.0 157.0 124.1 32.9 155.0 2.0 27.3% 26.5% 1.3% 213.2 175.9 37.3 294.0 246.8 47.2 279.0 15.0 21.2% 19.1% 5.4% 154.0 167.5 -13.5 203.0 218.4 -15.4 201.0 2.0 -8.1% -7.0% 1.0% 89.1 81.1 8.0 117.0 113.4 3.6 119.0 -2.0 9.9% 3.2% -1.7% Adjustment -46.7 -39.3 -7.4 -61.0 -55.9 -5.1 -59.0 -2.0 Consolidated 525.9 476.5 49.4 710.0 646.7 63.3 695.0 15.0 10.4% 9.8% 2.2% Metals Results Forecast Engineered Materials Mobility Corporate
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 7 Segment Information by Business Unit （Unit: Billion yen） '24/Q1-3 '23/Q1-3 Difference 2024 2023 Difference 2024 Difference Results Results （24-23） Forecast Results （24-23） Forecast ■Operating Income （Feb 12） （Nov 8） 20.0 10.8 9.2 25.0 15.4 9.6 25.0 0.0 85.1% 62.0% 0.0% 31.6 1.3 30.2 37.0 6.4 30.6 26.5 10.5 2265.8% 482.4% 39.6% 11.4 6.8 4.5 14.5 10.2 4.3 14.0 0.5 66.1% 42.2% 3.6% 0.8 0.7 0.2 1.4 1.5 -0.1 1.0 0.4 25.6% -6.2% 40.0% -4.9 -4.7 -0.2 -6.9 -6.3 -0.5 -6.3 -0.6 Adjustment -2.7 -0.2 -2.5 -5.0 4.6 -9.6 -4.2 -0.8 Consolidated 56.2 14.8 41.4 66.0 31.7 34.3 56.0 10.0 279.8% 108.2% 17.9% ■Ordinary Income 20.0 11.0 9.0 24.5 16.4 8.1 23.5 1.0 81.4% 49.2% 4.3% 34.4 11.6 22.8 39.5 16.1 23.4 28.0 11.5 195.8% 145.8% 41.1% 10.6 7.3 3.4 13.5 11.3 2.2 12.0 1.5 46.3% 19.7% 12.5% 2.4 1.8 0.6 3.0 3.2 -0.2 2.5 0.5 32.1% -5.5% 20.0% -4.9 -4.7 -0.2 -6.9 -6.5 -0.5 -6.4 -0.6 Adjustment -3.4 -0.1 -3.3 -5.1 4.0 -9.1 -4.6 -0.4 Consolidated 59.1 27.0 32.2 68.5 44.5 24.0 55.0 13.5 119.3% 53.9% 24.5% Engineered Materials Metals Mobility Engineered Materials Metals Mobility Corporate Business Creation Results Forecast Business Creation Corporate
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 8 Variance analysis of ordinary income （Unit: Billion yen） 24Q1-3 23Q1-3 Diff. Volume LME/Forex Inventory Factor/ PGM price difference Margin/ Cost Equity gain or loss Total Engineered materials 20.0 11.0 9.0 3.5 0.5 1.3 3.7 - 9.0 Metals 34.4 11.6 22.8 0.9 5.7 13.1 3.4 -0.3 22.8 Mobility 10.6 7.3 3.4 -3.5 -1.0 4.4 3.5 - 3.4 Corporate 2.4 1.8 0.6 -0.4 0.3 - 0.3 0.4 0.6 Business Creation -4.9 -4.7 -0.2 - - - -0.2 - -0.2 Adjustment -3.4 -0.1 -3.3 - 0.9 - -4.2 - -3.3 Total 59.1 27.0 32.2 0.5 6.3 18.8 6.5 0.1 32.2 Ordinary Income Details
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 9 Variance analysis of operating income （Unit: Billion yen） 24Q1-3 23Q1-3 Diff. Volume LME/Forex Inventory Factor/ PGM price difference Margin/ Cost Total Engineered materials 20.0 10.8 9.2 3.5 0.7 1.3 3.7 9.2 Metals 31.6 1.3 30.2 0.9 5.7 13.1 10.5 30.2 Mobility 11.4 6.8 4.5 -3.5 0.5 4.4 3.0 4.5 Corporate 0.8 0.7 0.2 -0.4 0.2 - 0.4 0.2 Business Creation -4.9 -4.7 -0.2 - - - -0.2 -0.2 Adjustment -2.7 -0.2 -2.5 - 1.4 - -3.9 -2.5 Total 56.2 14.8 41.4 0.5 8.6 18.8 13.5 41.4 Operating Income Details
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 10 Non-operating income/expenses and Extraordinary gains/losses （Unit: Billion yen） '24/Q1-3 '23/Q1-3 Difference 2024 2023 Difference 2024 Difference Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） Interest income - net -1.6 -1.7 0.1 -2.2 -2.2 -0.0 -2.2 0.0 Dividend income - net 0.6 7.4 -6.8 0.6 7.4 -6.8 0.6 0.0 Equity in gains/losses 3.7 3.7 0.1 4.1 3.2 0.9 3.1 1.0 Forex Exchange gain or loss -0.7 1.6 -2.3 -0.6 3.0 -3.6 -3.0 2.4 Others 0.9 1.2 -0.3 0.6 1.4 -0.8 0.5 0.1 Non-operating income/expenses - net 2.9 12.2 -9.3 2.5 12.8 -10.3 -1.0 3.5 Loss on sale & disposal of Fixed Asset -1.8 -1.9 0.1 -2.7 -2.3 -0.3 -2.7 0.0 Impairment losses -1.1 0.0 -1.1 -1.1 -0.0 -1.1 -1.1 0.0 PL on sale of Investment Securities 9.4 0.5 8.9 9.4 1.3 8.1 9.4 0.0 PL on sale of shares of subsidiaries and associates 2.2 0.0 2.2 2.2 0.0 2.2 2.2 0.0 Loss on valuation of shares of subsidiaries and associates 0.0 -1.0 1.0 0.0 -1.0 1.0 0.0 0.0 Provision for loss on guarantees 0.0 -2.4 2.4 0.0 0.0 0.0 0.0 0.0 Provision of allowance for doubtful accounts -0.5 0.0 -0.5 -0.5 -2.6 2.1 0.0 -0.5 Others -0.2 -1.1 0.8 -0.5 -1.3 0.8 -0.7 0.2 Extraordinary profit/losses - net 8.0 -5.8 13.8 6.8 -6.0 12.8 7.0 -0.2 Results Forecast
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 11 Trends of products ※ Index : The sales volume in 2022 Q1 scaled at 100 ( except Copper Foil and Zinc ) Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Forecast 2nd Half Forecast Year Forecast 2nd Half Forecast Year Forecast MH alloy Volume of Sales Index 100 108 117 105 107 118 106 118 116 114 131 133 149 134 141 137 146 139 Copper foil Volume of Sales t / Month 1,800 1,250 1,450 990 1,370 1,300 1,490 1,600 1,550 1,490 1,680 1,650 1,680 1,570 1,620 1,650 1,780 1,720 MicroThin™ Total (a+b) Volume of Sales Index 100 74 52 26 63 76 74 74 79 76 86 92 77 70 73 81 91 90 MicroThin™ for HDI (a) Volume of Sales 18 17 16 10 15 16 18 16 14 16 21 19 16 12 14 17 16 18 MicroThin™ for PKG (b) Volume of Sales 82 57 36 16 48 60 56 58 65 60 65 73 61 58 59 64 75 72 ITO Target Volume of Sales Index 100 63 69 63 74 72 81 70 69 73 74 73 66 63 64 69 65 69 Zinc Volume of Production k-t 55 58 54 53 220 44 60 54 53 211 56 47 56 63 118 221 120 222 Catalysts for motorcycle Volume of Sales Index 100 122 114 107 111 116 116 116 116 116 124 123 117 114 116 120 112 118 India Volume of Sales Index (100) (117) (97) (94) (102) (112) (116) (117) (113) (114) (127) (128) (111) (107) (109) (118) (106) (117) Indonesia Volume of Sales Index (100) (188) (227) (235) (188) (183) (198) (195) (232) (202) (181) (222) (198) (210) (204) (202) (209) (205) Others Volume of Sales Index (100) (115) (115) (99) (107) (105) (97) (97) (93) (98) (105) (93) (107) (105) (106) (102) (99) (99) Catalysts for automobile Volume of Sales Index 100 143 131 130 126 142 163 165 156 156 143 139 144 141 142 142 130 135 Side door Latches Volume of Sales Index 100 113 108 110 108 107 115 124 108 113 101 103 107 97 102 102 106 104 Japan Volume of Sales Index (100) (119) (132) (119) (117) (112) (131) (142) (114) (125) (102) (116) (127) (115) (121) (115) (121) (115) China Volume of Sales Index (100) (121) (85) (82) (97) (83) (84) (98) (70) (84) (60) (61) (71) (51) (61) (61) (69) (65) Other Asia Volume of Sales Index (100) (116) (124) (120) (115) (95) (118) (120) (107) (110) (90) (104) (96) (99) (98) (97) (96) (97) America & Europe Volume of Sales Index (100) (99) (101) (121) (105) (131) (130) (134) (138) (133) (141) (129) (129) (133) (131) (133) (132) (134) 2022 2023 2024 Forecast (Feb 12) 2024 Forecast (Nov 8)
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 12 Inventory Factors and PGM price difference on Catalysts （Unit : Billion yen） ■Inventory Factors Q1 Q2 1st Half Q3 Q4 2nd Half Year Q1 Q2 1st Half Q3 Q4 Forecast 2nd Half Forecast Year Forecast 2nd Half Forecast Year Forecast Engineered materials 0.4 0.5 0.9 0.6 0.1 0.7 1.6 0.8 1.7 2.5 0.3 0.1 0.4 2.9 0.1 2.6 Metals -5.4 3.1 -2.3 1.0 1.7 2.7 0.4 7.3 0.4 7.7 4.1 -1.0 3.1 10.8 -0.9 6.8 Mobility - - - - - - - - - - - - - - - - Corporate -0.1 0.2 0.1 0.1 - 0.1 0.2 0.7 0.3 1.0 - - - 1.0 -0.4 0.6 Consolidated -5.1 3.8 -1.3 1.7 1.8 3.5 2.2 8.8 2.4 11.2 4.4 -0.9 3.5 14.7 -1.2 10.0 ■PGM price difference on Catalysts Mobility -3.3 -0.5 -3.8 0.1 0.9 1.0 -2.8 0.5 0.2 0.7 - 0.3 0.3 1.0 -0.2 0.5 ■Inventory Factors + PGM price difference on Catalysts Engineered materials 0.4 0.5 0.9 0.6 0.1 0.7 1.6 0.8 1.7 2.5 0.3 0.1 0.4 2.9 0.1 2.6 Metals -5.4 3.1 -2.3 1.0 1.7 2.7 0.4 7.3 0.4 7.7 4.1 -1.0 3.1 10.8 -0.9 6.8 Mobility -3.3 -0.5 -3.8 0.1 0.9 1.0 -2.8 0.5 0.2 0.7 - 0.3 0.3 1.0 -0.2 0.5 Corporate -0.1 0.2 0.1 0.1 - 0.1 0.2 0.7 0.3 1.0 - - - 1.0 -0.4 0.6 Consolidated -8.4 3.3 -5.1 1.8 2.7 4.5 -0.6 9.3 2.6 11.9 4.4 -0.6 3.8 15.7 -1.4 10.5 2023 2024 Forecast (Feb 12) 2024 Forecast (Nov 8)
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Difference Analysis of Ordinary income ［23/Q1-3→24/Q1-3 + 9.0］ Copper foil +5.9 (Electro-deposited Copper foil and MicroThin volume of sales increases, others) Engineered Powders +2.1 (Volume of sales increases, others) ［FY2023→FY2024 Forecast + 8.1］ Copper foil +5.5 (Electro-deposited Copper foil and MicroThin volume of sales increases, others) Engineered Powders +1.9 (Volume of sales increases, others) Performance by Segment – Engineered Materials （Unit: Billion yen） ※Ordinary income : Ordinary income excluding inventory factors. 13 (Engineered Material Products) (Main Applications) Battery Materials ・Nickel-hydrogen batteries for hybrid cars ・Lithium-ion batteries Engineered Powders ・Wide range of electronic components ・Abrasive for glass Copper Foil ・High-Density Packaging ・Printed circuit board PVD Materials (Sputtering target) ・Flat panel displays Ceramics ・Kiln furniture for electronic materials ・Liquid aluminum filtration equipment Rare Earth Compounds (Nippon Yttrium Co., Ltd.) ・Protective materials for semiconductor production equipment ・Additives for electronic materials 24/Q1-3 23/Q1-3 Diff. FY2024 FY2023 Diff. FY2024 Diff. Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） ■Sales 116.3 91.3 25.0 157.0 124.1 32.9 155.0 2.0 ■Operating income 20.0 10.8 9.2 25.0 15.4 9.6 25.0 0.0 ■Ordinary income 20.0 11.0 9.0 24.5 16.4 8.1 23.5 1.0 ※Ordinary income 17.2 9.5 7.7 21.6 14.8 6.8 20.9 0.7
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Difference Analysis of Ordinary income Performance by Segment – Metals ※Ordinary income : Ordinary income excluding inventory factors. 14 （Unit: Billion yen） Zinc TC FY2023 274 $/t ・ +6% for over 3,000$/t FY2024 165 $/t 24/Q1-3 23/Q1-3 Diff. FY2024 FY2023 Diff. FY2024 Diff. Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） ■Sales 213.2 175.9 37.3 294.0 246.8 47.2 279.0 15.0 ■Operating income 31.6 1.3 30.2 37.0 6.4 30.6 26.5 10.5 ■Ordinary income 34.4 11.6 22.8 39.5 16.1 23.4 28.0 11.5 ※Ordinary income 22.6 12.9 9.7 28.7 15.7 13.0 21.2 7.5 ※Detail of Others 23/Q1-3→ 24/Q1-3 Improvement in zinc smelting operations +1.3, Improvement in lead smelting operations +0.3, Raw material cost of lead decrease +0.3, Fixed cost increase in Lead & Zinc Div. (including large scale maintenance +1.5) -0.3, Improvement copper smelting operations +3.8, Fixed cost incerease in Copper Div. (including large scale maintenance -2.4) -1.5, PGM recycling +1.1, Mineral Resources Div. +3.7 FY2023→ FY2024 Forecast Improvement in zinc smelting operations +1.1, Raw material cost of lead decrease +0.5, Fixed cost incerease in Lead & Zinc Div. (including large scale maintenance +1.5) -0.6, Improvment copper smelting operations +4.3, Fixed cost incerease in Copper Div. (including large scale maintenance -2.4) -2.1, PGM recycling +0.8, Mineral Resources Div. +4.1 Sensitivity to ordinary income(for FY2024) Full open basis Including forward contract Zinc ±100$/t 1.5 1.3 Lead ±100$/t 0.4 0.4 US$(yen/$) ±1yen/$ 0.5 0.4 5.7 7.6 -3.2 -3.9 13.1 10.3 -0.3 0.8 4.3 5.0 (0.4) (1.0) -6.8 -6.8 10.0 10.4 22.8 23.4 Energy cost (Cokes, included in the number avobe) Dividends Otners ※ LME/Forex T/C Inventory Factors Equity profit/loss Total 23/Q1-3→ 24/Q1-3 FY2023→ FY2024 Forecast （Unit: Billion yen）
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. (Mobility Sector) (Main Applications) Catalysts ・Motorcycles ・Automobiles Mitsui Kinzoku ACT ・Door locks for automobiles Mitsui Kinzoku Die-Casting ・Die-Casting products ［FY2023→FY2024 Forecast + 2.2］ Catalysts +4.5 (PGM price difference improvement, others) ACT -1.3 (Volume of sales decrease, Cost down, others) Die-Casting -0.5 (Volume of sales decrease, Cost up, others) ACT：Difference Analysis of Ordinary income Performance by Segment – Mobility ※Ordinary income : Ordinary income excluding PGM price difference on Catalysts. Difference Analysis of Ordinary income （Unit: Billion yen） 15 ［23/Q1-3→24/Q1-3 + 3.4 ］ Catalysts +5.1 (PGM price difference improvement, others) ACT -0.9 (Volume of sales decrease, Cost down, others) Die-Casting -0.5 (Volume of sales decrease, Cost up, others) 24/Q1-3 23/Q1-3 Diff. FY2024 FY2023 Diff. FY2024 Diff. Results Results （24-23） Forecast Results （24-23） Forecast （Feb 12） （Nov 8） ■Sales 154.0 167.5 -13.5 203.0 218.4 -15.4 201.0 2.0 (Mitsui Kinzoku ACT) (72.1) (74.5) (-2.4) (94.5) (97.6) (-3.2) (96.3) (-1.8) ■Operating income 11.4 6.8 4.5 14.5 10.2 4.3 14.0 0.5 (Mitsui Kinzoku ACT) (0.4) (0.8) (-0.4) (0.1) (0.7) (-0.6) (1.0) (-0.8) ■Ordinary income 10.6 7.3 3.4 13.5 11.3 2.2 12.0 1.5 (Mitsui Kinzoku ACT) (0.0) (0.9) (-0.9) (-0.3) (1.1) (-1.3) (0.5) (-0.8) ※Ordinary income 9.9 11.0 -1.0 12.5 14.1 -1.6 11.5 1.0 23/Q1-3→ 24/Q1-3 FY2023→ FY2024 Forecast Sales Volume -1.3 -3.1 Cost down 0.9 2.9 Others※ -0.5 -1.1 Total -0.9 -1.3 ※Detail of Others 23/Q1-3→ 24/Q1-3 FY2023→ FY2024 Forecast 0.4 0.7 Forex exchange -0.8 -1.3 0.0 -0.6 Freight Charge -0.1 0.0 Price differences in materials such as steel Projected Benefit Obligation
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Appendix
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 17 Metal Prices and FOREX Q1 Q2 1st Half Q3 Q4 2nd Half Year Q1 Q2 1st Half Q3 Q4 Fore cast 2nd Half Fore cast Year Fore cast 2nd Half Fore cast Year Fore cast Zinc ($ / t) 2,540 2,429 2,484 2,498 2,449 2,474 2,479 2,833 2,779 2,806 3,048 2,900 2,974 2,890 2,900 2,853 Zinc (Actual) ($ / t) 2,565 2,462 2,514 2,528 2,483 2,505 2,509 2,831 2,780 2,805 3,028 2,919 2,973 2,889 2,916 2,861 Lead ($ / t) 2,118 2,170 2,144 2,119 2,076 2,098 2,121 2,166 2,041 2,104 2,006 2,000 2,003 2,053 2,050 2,077 Copper (￠ / lb) 385 379 382 371 383 377 379 442 417 430 416 400 408 419 408 419 Indium ($ / Kg) 197 241 219 235 234 234 227 324 370 347 341 350 346 346 350 349 Palladium ($ / oz) 1,449 1,251 1,350 1,085 978 1,031 1,191 972 970 971 1,011 950 980 976 950 961 Rhodium ($ / oz) 7,039 4,107 5,573 4,461 4,494 4,478 5,025 4,706 4,693 4,700 4,651 4,700 4,675 4,687 4,700 4,700 Yen/US$ (yen / $) 137.4 144.6 141.0 147.9 148.6 148.3 144.6 155.9 149.4 152.6 152.4 155.0 153.7 153.2 145.0 148.8 Yen/US$ (Actual) (yen / $) 134.1 140.5 137.3 143.6 144.2 143.9 140.7 152.9 147.5 150.2 150.2 152.9 151.5 150.9 144.2 147.1 2023 2024 Forecast (Feb 12) 2024 Forecast (Nov 8)
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. FY2024 2nd half Operating Income Forecast Operating income forecast for the fourth quarter of FY2024 is 9.8 billion, by 7.6 billion less than the third quarter of FY2024. 18 9.8 + 1.6 Metals - 5.3 Inventory factors PGM price difference on Catalysts + 0.3 Engineered Materials - 0.9 Corporate & others - 2.3 Operating Income for ‘24/Q3 17.4 Operating Income Forecast for ‘24Q4 on Feb 12th Mobility - 1.0 ■Main factor ・ Catalysts -0.3 ・ ACT -0.6 ■Main factor ・ Copper foil -0.1 ・ Engineered Powders -0.4 ■Main factor ・ Engineered Materials -0.2 ・ Metals -5.1 ■Main factor ・ Subsidiaries +0.3 ・ Business Creation -0.3 ・ Consolidated adjustment etc. -2.3 Operating Income decrease by 7.6 billion ■Main factor ・ Copper smelting Div. large scale maintenance +2.4 (Conducted in Q3) （Unit： Billion yen）
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Financial Performance (Operating income) 21.5 30.9 16.6 22.3 1.4 -0.3 1.3 0.7 -1.8 0.1 Adjustment Affiliates Coordination Automotive Parts & Components Metals Engineered Materials Total FY2020 results FY2021 results 53.7 Trends in Financial Performance (excludes inventory factor and PGM price difference on Catalysts from Operating income) 39.0 FY2022 results 53.7 27.4 10.2 13.8 22.1 22.4 23.2 7.8 6.0 26.2 19.7 7.5 6.5 13.0 13.5 13.5 1.3 -1.0 1.5 1.4 1.0 -5.7 -6.6 -6.3 -6.9 -6.3 2.7 4.5 -5.0 -4.2 Adjustment Business Creation Corporate Mobility Metals Engineered Materials Total FY2021 results 19.6 Old Organization 32.5 FY2023 results 19 46.1 FY2024 Forecasts (Nov 8) Current Organization 51.3 FY2024 Forecasts (Feb 12) （Unit： Billion yen）
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Financial Performance (Ordinary income) 21.5 31.7 15.7 24.4 1.9 0.5 2.0 1.7 -2.5 -0.7 Adjustment Affiliates Coordination Automotive Parts & Components Metals Engineered Materials Total FY2020 results FY2021 results 57.6 Trends in Financial Performance (excludes inventory factor and PGM price difference on Catalysts from Ordinary income) 38.6 FY2022 results 57.6 28.0 11.0 14.8 21.6 20.9 25.3 12.8 15.7 28.7 21.2 8.4 6.3 14.1 12.5 11.5 2.5 0.4 3.0 2.0 1.9 -5.8 -6.6 -6.5 -6.9 -6.4 -0.8 2.8 4.0 -5.1 -4.6 Adjustment Business Creation Corporate Mobility Metals Engineered Materials Total FY2021 results 26.7 45.1 FY2023 results 20 44.5 FY2024 Forecasts (Nov 8) 52.8 FY2024 Forecasts (Feb 12) （Unit： Billion yen） Old Organization Current Organization
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Sales and Incomes (Unit: Billion yen） 21 Q3 Diff. Q3 Diff. ■Sales YonY QonQ Engineered Materials 28.7 31.0 31.6 32.8 124.1 38.0 40.1 38.2 40.7 78.1 78.9 157.0 6.6 -1.8 Metals 52.4 62.3 61.3 70.9 246.8 65.5 75.1 72.5 80.8 140.6 153.4 294.0 11.3 -2.6 Mobility 55.4 57.3 54.8 50.9 218.4 50.2 51.3 52.5 49.0 101.5 101.5 203.0 -2.3 1.2 Corporate 26.9 25.7 28.5 32.3 113.4 29.0 30.1 30.0 27.9 59.2 57.8 117.0 1.5 -0.1 Adjustment -15.9 -11.7 -11.7 -16.6 -55.9 -12.9 -18.3 -15.5 -14.3 -31.3 -29.7 -61.0 -3.7 2.9 Consolidated 147.5 164.6 164.4 170.2 646.7 169.9 178.3 177.8 184.1 348.1 361.9 710.0 13.4 -0.5 ■Operating income Engineered Materials 2.7 3.8 4.4 4.6 15.4 6.9 7.1 6.1 5.0 14.0 11.0 25.0 1.7 -1.0 Metals -6.1 4.2 3.2 5.0 6.4 17.8 4.8 8.9 5.4 22.6 14.4 37.0 5.7 4.1 Mobility -0.2 3.0 4.1 3.4 10.2 3.3 4.2 3.9 3.1 7.5 7.0 14.5 -0.2 -0.4 Corporate -0.0 0.1 0.5 0.8 1.5 0.2 0.4 0.3 0.6 0.5 0.9 1.4 -0.2 -0.1 Business Creation -1.6 -1.5 -1.6 -1.7 -6.3 -1.5 -1.6 -1.7 -2.0 -3.2 -3.7 -6.9 -0.1 -0.1 Adjustment -0.2 0.5 -0.5 4.7 4.6 -3.2 0.5 -0.1 -2.3 -2.6 -2.4 -5.0 0.4 -0.6 Consolidated -5.5 10.1 10.1 16.9 31.7 23.5 15.3 17.4 9.8 38.8 27.2 66.0 7.3 2.1 ■Ordinary income Engineered Materials 3.2 4.2 3.6 5.4 16.4 7.4 5.0 7.6 4.5 12.4 12.1 24.5 3.9 2.6 Metals 1.6 5.7 4.3 4.4 16.1 19.4 4.8 10.1 5.1 24.3 15.2 39.5 5.8 5.3 Mobility 0.9 2.9 3.4 4.0 11.3 3.5 2.6 4.6 2.9 6.1 7.4 13.5 1.1 2.0 Corporate 0.4 0.4 1.0 1.4 3.2 0.8 1.0 0.6 0.6 1.8 1.2 3.0 -0.4 -0.4 Business Creation -1.6 -1.5 -1.6 -1.8 -6.5 -1.5 -1.7 -1.7 -2.0 -3.2 -3.7 -6.9 -0.2 -0.1 Adjustment 0.5 0.2 -0.8 4.1 4.0 -3.4 0.4 -0.5 -1.7 -3.0 -2.1 -5.1 0.3 -0.9 Consolidated 5.1 11.8 10.1 17.6 44.5 26.2 12.2 20.7 9.4 38.4 30.1 68.5 10.7 8.5 ■Net income attributable to owners of parent 2.5 5.6 7.0 10.8 26.0 22.1 14.9 15.1 4.9 37.0 20.0 57.0 8.1 0.2 '23/Q4 '24/Q1 '24/Q2 '24/Q3 '24/Q4 Forecast '24/1H Results '24/2H Forecast FY2024 ForecastFY2023'23/Q1 '23/Q2 '23/Q3
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Operating incomes and ordinary incomes excluding inventory factors and PGM price difference on Catalysts 22 (Unit: Billion yen） Q3 Diff. Q3 Diff. ■Operating income YonY QonQ Engineered Materials 2.3 3.3 3.8 4.5 13.8 6.1 5.4 5.8 4.9 11.5 10.6 22.1 2.0 0.4 Metals -0.7 1.1 2.2 3.3 6.0 10.5 4.4 4.8 6.4 14.9 11.3 26.2 2.6 0.4 Mobility 3.1 3.5 4.0 2.5 13.0 2.8 4.0 3.9 2.8 6.8 6.7 13.5 -0.1 -0.2 Corporate -0.0 0.1 0.5 0.8 1.5 0.2 0.4 0.3 0.6 0.5 0.9 1.4 -0.2 -0.1 Business Creation -1.6 -1.5 -1.6 -1.7 -6.3 -1.5 -1.6 -1.7 -2.0 -3.2 -3.7 -6.9 -0.1 -0.1 Adjustment -0.2 0.5 -0.5 4.7 4.6 -3.2 0.5 -0.1 -2.3 -2.6 -2.4 -5.0 0.4 -0.6 Consolidated 2.8 7.0 8.4 14.2 32.5 14.9 13.0 13.0 10.4 27.9 23.4 51.3 4.6 0.0 ■Ordinary income Engineered Materials 2.8 3.7 3.0 5.3 14.8 6.6 3.3 7.3 4.4 9.9 11.7 21.6 4.2 4.0 Metals 7.0 2.6 3.3 2.7 15.7 12.1 4.4 6.0 6.1 16.6 12.1 28.7 2.7 1.6 Mobility 4.2 3.4 3.3 3.1 14.1 3.0 2.4 4.6 2.6 5.4 7.1 12.5 1.2 2.2 Corporate 0.5 0.2 0.9 1.4 3.0 0.1 0.7 0.6 0.6 0.8 1.2 2.0 -0.3 -0.1 Business Creation -1.6 -1.5 -1.6 -1.8 -6.5 -1.5 -1.7 -1.7 -2.0 -3.2 -3.7 -6.9 -0.2 -0.1 Adjustment 0.5 0.2 -0.8 4.1 4.0 -3.4 0.4 -0.5 -1.7 -3.0 -2.1 -5.1 0.3 -0.9 Consolidated 13.5 8.5 8.3 14.9 45.1 16.9 9.6 16.3 10.0 26.5 26.3 52.8 8.1 6.7 FY2024 Forecast'24/Q1 '24/Q2 '24/Q3 '24/Q4 Forecast '24/1H Results '24/2H ForecastFY2023'23/Q1 '23/Q2 '23/Q3 '23/Q4
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. 23 Sales (Unit: Billion yen) Q1 Q2 Q3 Q4 FY2023 Q1 Q2 Q3 Engineered Engineered Powders 6.0 6.6 6.9 6.9 26.5 8.4 8.9 9.3 Materials Copper Foil 16.9 18.6 19.5 20.2 75.3 23.3 25.1 22.2 Others 5.9 5.7 5.2 5.6 22.3 6.2 6.0 6.7 28.7 31.0 31.6 32.8 124.1 38.0 40.1 38.2 Metals Lead & Zinc 35.6 43.8 42.9 50.1 172.5 43.8 51.3 47.7 Copper & Precious Metals 14.8 14.8 14.9 16.9 61.4 17.8 17.6 19.9 Others 2.0 3.8 3.4 3.8 13.0 3.9 6.2 4.9 52.4 62.3 61.3 70.9 246.8 65.5 75.1 72.5 Mobility Catalysts 27.7 27.4 24.0 23.5 102.6 23.0 23.0 23.5 Door Latches for automobiles 23.2 25.2 26.1 23.1 97.6 23.2 24.2 24.7 Others 4.4 4.8 4.7 4.2 18.1 4.0 4.2 4.3 55.4 57.3 54.8 50.9 218.4 50.2 51.3 52.5 Corporate Business Reconstruction Office products 19.9 20.4 21.8 22.1 84.3 23.9 23.2 22.8 Engineering business, Others 6.9 5.3 6.7 10.2 29.0 5.1 6.9 7.2 26.9 25.7 28.5 32.3 113.4 29.0 30.1 30.0 Adjustment -15.9 -11.7 -11.7 -16.6 -55.9 -12.9 -18.3 -15.5 Consolidated 147.5 164.6 164.4 170.2 646.7 169.9 178.3 177.8 2023 2024
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. List of transient factors and Non-operating income/expenses Forex Exchange gain or loss （Unit: Billion yen） FY2024 Forecast Transient factors 24 (Reference) FY2023 Transient factors (Reference) FY2023 Non-operating income/expenses Forex Exchange gain or loss FY2024 Non-operating income/expenses Forex Exchange gain or loss Engineered Materials Copper Foil 0.5 0.3 0.8 -0.6 0.7 0.1 0.9 Mobility Catalysts 1.0 0.1 1.1 -0.4 0.3 -0.1 1.0 Adjustment Corporate 0.7 -0.3 0.4 0.0 -0.6 -0.6 -0.2 Others 0.5 0.3 0.8 -0.5 1.0 0.5 1.3 Consolidated 2.7 0.4 3.1 -1.5 1.4 -0.1 3.0 FY2023 2nd half FY2023Q1 Q2 FY2023 1st half Q3 Q4 Q4 FY2024 2nd half FY2024 FY2024 1st half FY2024 2nd half FY2024 Forecast Forecast Forecast(Feb 12) Forecast(Nov 8) Forecast(Nov 8) Metals Large scale maintenance for copper smelting 0.0 0.0 0.0 -2.4 0.0 -2.4 -2.4 0.0 -2.4 -2.4 Subtotal 0.0 0.0 0.0 -2.4 0.0 -2.4 -2.4 0.0 -2.4 -2.4 Total 0.0 0.0 0.0 -2.4 0.0 -2.4 -2.4 0.0 -2.4 -2.4 Q3Q1 Q2 FY2024 1st half Q4 FY2024 2nd half FY2024 FY2024 1st half FY2024 2nd half FY2024 Forecast Forecast Forecast(Feb 12) Forecast(Nov 8) Forecast(Nov 8) Engineered Materials Copper Foil 0.4 -2.0 -1.6 1.3 0.1 1.4 -0.2 -1.6 0.1 -1.5 Mobility Catalysts 0.3 -1.0 -0.7 0.5 -0.2 0.3 -0.4 -0.7 0.0 -0.7 Adjustment Corporate 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Others 0.5 -1.3 -0.8 0.6 0.2 0.7 0.0 -0.8 0.0 -0.8 Consolidated 1.2 -4.3 -3.1 2.4 0.1 2.4 -0.6 -3.1 0.1 -3.0 Q3Q1 Q2 FY2024 1st half FY2023 2nd half FY2023 Forecast(Feb 7) Forecast(Feb 7) Metals Large scale maintenance for zinc smelting -1.5 0.0 -1.5 0.0 0.0 0.0 -1.5 -1.5 0.0 -1.5 *1 Dividend income from JKJS*2 6.6 0.0 6.6 0.0 0.0 0.0 6.6 6.6 0.0 6.6 *1 Interest received on past year tax refunds in Peru 0.0 0.9 0.9 0.0 0.0 0.0 0.9 0.9 0.0 0.9 Subtotal 5.1 0.9 6.0 0.0 0.0 0.0 6.0 6.0 0.0 6.0 Adjustment Actuarial gains in retirement benefit obligations of the head office 0.0 0.0 0.0 0.0 4.7 4.7 4.7 0.0 0.0 0.0 Total 5.1 0.9 6.0 0.0 4.7 4.7 10.7 6.0 0.0 6.0 *1 Non-operating profit and loss *2 JKJS : Japan Korea Joint Smelting Co., Ltd. Q1 Q2 FY2023 1st half Q3 FY2023 1st halfQ4 FY2023 2nd half FY2023
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Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. Caution Concerning Forward-looking Statements Statements contained in these materials regarding forecasts of future events are qualified by various risks, both existing and unknown, and uncertainties, which may have a material impact on the actual business conditions and operational activities. Consequently, please be aware that actual performance may differ substantially from forecasts and business plans indicated herein because of various unforeseeable factors. Mitsui Mining & Smelting Co., Ltd. cannot guarantee the validity of the targets, assumptions, expectations, predictions, plans, assessments and other information contained in this material, and the Company also cannot guarantee that its actual business performance will be consistent with the forecasts presented within. Regarding latent risks which might impact forecast results and other uncertainties, some items are included in the “Business and Other Risks” section of our financial statements or our website. However, please recognize that these are just a summary rather than a comprehensive list of all possible items relating to latent risks and uncertainties. This material was compiled with the aim of furthering the understanding of our shareholders and other investors with regard to the Company’s management policy and other details. This material is not for the purpose of soliciting investment through the purchase or sale of stocks. Accordingly, you are advised not to make your investment decision solely on the basis of the material presented herein. 25