Perenti Global : Half Year to 31 Dec 2021 Results Presentation

H A L F - Y E A R R E S U LT S

2022

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Perenti Global Limited ABN 95 009 211 474

BUSINESS OVERVIEW

1H22 underlying financial results

REVENUE

only$1.2B

 18% on 1H21

Primarily due to the commencement of newly announced projects and the ramp-up of existing growth

useprojects

OPERATING CASH CONVERSION 1

94%

EBITDAEBIT(A)

$202M	$81M
In-line with 1H21 EBITDA	 14% on 1H21
Softer EBITDA margins primarily due	Depreciation remains ~10% of revenue
to labour and supply constraints	Lower EBIT(A) margins in-line with
across our Australian underground
lower EBITDA margins and capex from
projects caused by COVID-19
growth projects
NET DEBT		LEVERAGE
$522M	1.3x

NPAT(A)

$35M

• 22% on 1H21

Primarily on lower EBIT(A). Interest was flat vs 1H21. Effective tax rate in-line at 31%

ROACE

13.8%

 2% points on 1H21	 3% on 1H21	in-line with 1H21	 0.6% points on 1H21
Capital and liquidity management	Gearing steady at 28%	Below forecast on timing of capital	Primarily a result of lower EBIT(A)
remains a very strong focus as		spend, proactive working capital	slightly offset by lower capital
we continue to target 90%+		management and stronger than	employed related to active working
conversion rates		forecast cash conversion	capital management
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Figures are underlying and exclude amortisation and any one-off or non-underlying items as disclosed on slide 14; ROACE is defined as underlying EBIT(A) / sum of average receivables, inventories, PP&E including assets classified as held for sale and Right of Use assets less trade payables for the relevant period; Net Leverage is defined as Net Debt / underlying EBITDA;

(1) Operating cash conversion is defined as Underlying EBITDA / the sum of operating cash flows.

2 HALF-YEAR RESULTS 2022

1H22 business overview

BUSINESS OVERVIEW

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	CONTINUED TO DELIVER
	OPERATIONALLY AND FINANCIALLY
		Delivered operational excellence
		and continuity of service for
use	our clients and expanded our
workforce by ~1,000 people
New underground projects
		contributed revenue growth.
		Labour constraints and supply
rsonale	pressures compressed Australian
underground margins

Surface continues to deliver improved performance underpinned by AMS

3 HALF-YEAR RESULTS 2022

CONTINUED EXECUTION ON OUR STRATEGY

idoba announced a MOU with Sumitomo and finalised two complementary acquisitions

Liberated $85.4M cash through divestment of MinAnalytical and non-core assets. Cash will be recycled in-line with our Capital Management Policy

Continued focus on improving safety performance. Formed the Board Sustainability Committee

POSITION THE BUSINESS FOR

THE FUTURE

Work in hand holds $5.7B and our organic pipeline sits at $9.5B

Positioning for sustainable long- term value growth of the business by releasing our Capital Management Policy while investing in the foundations of the business

Refreshing our 2025 Strategy and finalising for release in 2H22

BUSINESS OVERVIEW

Safety and sustainability performance

SUSTAINABILITY PERFORMANCE

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GHTS

N

RI

•

A

Established the Board Sustainability Committee with Tim Longstaff appointed

C

M

U

H

,

I

S

H

E

T

as the Chair

E

C

S

N

A

B

E

O

T

L

T

U

T

R

O

U

O

M

R

O

• Initiated our "It's NOT ok" campaign and released our Position Statement on

H

C

R

S

L

N

O

W

N

O

E

R

I

Eliminating Sexual Harassment

A

T

S

N

• Progressed the development of our roadmap toward decarbonisation

T

D

C

use

L

O

N

A

E

S

L

• Through idoba we joined AROSE, focusing on advanced remote operations to

N

V

E

O

H

M

N

OUR PURPOSE

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C

E

M

minimise environmental impact

O

E

To create

S

R

R

E

V

W

I

R

M

enduring value

I

N

A

H

U

N

E

S

T

T

and certainty

I

• idoba's MOU with Sumitomo to jointly develop Climate Conscious Decisions

E

N

T

I

F

K

I

L

S

L

U

E

A

W

• Continued participation in the Electric Mine Consortium

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S

M

H

R

AR

ET

E





TER TOG

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Y

P

F

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PL

A

E

S

E,

D

N

HEALTHA

SAFETY PERFORMANCE

WORKFORCE

 2.6 SPIFR

6.7 TRIFR

~9,000

Australian workforce up primarily

down from 2.9 at

up from 5.1 at

Increased workforce

due to Savannah and Cowal and

30 June 21

30 June 21

despite the tight domestic

African workforce increase is

labour market.

primarily due to Iduapriem

4 HALF-YEAR RESULTS 2022

DELIVER ENDURING VALUE AND CERTAINTY FOR OUR STAKEHOLDERS

Improved AMS performance

Continue to invest in strengthening the foundations of our business

Released our "It's NOT ok" campaign and our Position Statement on Eliminating Sexual Harassment

Delivered better than expected financial performance

Commenced our strategic refresh, expected to be delivered to the market in 2H22

Welcomed ~1,000 new employees to the business

Established the Board Sustainability Committee

OPERATIONAL

EXCELLENCE

STRATEGIC

GROWTH

ORGANISATIONAL

HEALTH

BUSINESS OVERVIEW

Continuing to deliver on our 2025 Strategy

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TECHNOLOGY DRIVEN	FINANCIAL
FUTURE	CAPACITY

use

ersonal5 (1) Non-core assets include property and corporate equity holdings associated with historical drill for equity positions. HALF-YEARRESULTS 2022

Through idoba, joined AROSE

idoba announced a MOU with Sumitomo

Continued

participation as a

Member of Electric

Mine Consortium

Liberated $85.4M through divestment of MinAnalytical and non-core assets1

Ongoing focus on liquidity and capital management

Working to improve cash flow generation and reduce leverage