Metro Mining (MMI) investor relations material

Strategic vision and market positioning

• Aims to be the premier bauxite supplier, focusing on responsible, high-quality production and sustainable benefits for Cape York communities.

• Only pure bauxite producer on the ASX, leveraging a simple, scalable, and low-cost operating model.

• Bauxite is positioned as an essential mineral for the energy transition, supporting aluminium growth in sectors like transport, construction, and renewables.

Operational performance and expansion

• Achieved record shipments of 6.2m wmt in 2025, with revenue of $378m and NPAT up $164.3m.

• Delivered cost per tonne has decreased steadily, with site margin improving, targeting lowest global delivered cost to China.

• Expansion to 7 Mt/a underway, with further capacity increases and economies of scale planned.

• Extensive reserves and resources support a double-digit mine life, with ongoing exploration and beneficiation trials to extend resource base.

Industry dynamics and market outlook

• Asian bauxite demand remains strong, with China importing 201m DMT in 2025, up 26% YoY.

• Guinea's government intervention and global freight disruptions have increased costs for West African suppliers, benefiting Australian producers.

• Aluminium and alumina markets are volatile but expected to remain robust, with new capacity and technology adoption in China and Indonesia.