PLS Group (PLS) investor relations material

Executive summary

• Achieved record production and sales at Pilgangoora, with volumes up 17% year-over-year and lithium recovery reaching 76.5%.

• Revenue surged 152% to $1,934M, driven by higher realized prices and volumes.

• Underlying EBITDA reached $1,137M (59% margin), and NPAT was $526M, reversing a prior year loss.

• Ended FY26 with a cash balance of $2,290M and declared a fully franked final dividend of 5 cents per share, totaling ~$161M and a 22% payout ratio.

• Advanced growth projects, including the Ngungaju plant restart, P2000 feasibility, and Colina Project studies.

Financial highlights

• Revenue increased 152% year-over-year to $1,934M, with realized price up 121% and 17% volume growth.

• Underlying EBITDA was $1,137M (59% margin), up from $97M, reflecting strong operational leverage.

• Net profit after tax reached $526M, compared to a $196M loss in FY25, partially offset by higher depreciation and tax expense.

• Cash margin from operations was $1,357M, supporting a 135% increase in cash to $2,290M.

• Capital expenditure totaled $328M, mainly for mine development and infrastructure.

Outlook and guidance

• FY27 production guidance: 1,030–1,100 kt as Ngungaju ramps up.

• FOB unit operating costs guided at $575–625/t, slightly above FY26 due to higher-cost mix.

• CapEx guidance: $620–685M, including $165M for P2000 pre-FID.

• Focus on ramping up Ngungaju, progressing P2000 and Colina projects, and advancing downstream chemical initiatives.

• Positioned to advance diversified growth pipeline while maintaining flexibility to navigate market volatility.