Jubilee Metals (JLP) investor relations material

Executive summary

• Completed sale of South African operations, enabling a strategic shift to focus on Zambian copper assets and resulting in improved performance and increased investment.

• Interim financials now focus on Zambia, with South African operations classified as discontinued and accounted for as a disposal group.

• Revenue rose to $14.1 million, up 70.5% year-over-year from $8.3 million in H1 FY2025.

• Gross profit surged to $3.1 million, an 847.6% increase compared to $0.3 million in H1 FY2025.

• Achieved significant operational progress in Zambia, with Roan concentrator production up 172.8% year-over-year and Molefe Mine expansion on track.

Financial highlights

• EBITDA from continuing operations improved by 169.3% to $2.0 million (H1 FY2025: loss of $2.9 million).

• Gross margin improved to 21.8%, up from 3.9% in the prior year period.

• Net cash position at $11.5 million (30 June 2025: $4.6 million); net debt reduced to $8.0 million.

• Group loss for the period was $9.3 million (H1 FY2025: profit of $2.5 million), with a loss from continuing operations of $4.7 million.

• CAPEX totaled $11.8 million, reflecting significant investment in Zambia.

Outlook and guidance

• Guidance is withheld or under review pending resolution of post-balance sheet events, including sulfuric acid availability, diesel prices, weather disruptions, and infrastructure upgrades.

• Management will provide guidance once there is more certainty on operational factors and full capacity is expected to resume in April 2026.

• Large Waste Project and Molefe Mine expansion expected to drive future growth, with partnership discussions ongoing.