Deterra Royalties (DRR) Corporate presentation summary

Strategic highlights

• Focused on a diversified royalty portfolio with exposure to iron ore, lithium, copper, and precious metals.

• Business model delivers top-line cash flows, commodity price leverage, and project optionality.

• Limited exposure to capital and operating costs, supporting high margins and cost inflation resistance.

• Disciplined, patient approach to capital allocation and portfolio growth.

• Active management of non-core assets to recycle capital and enhance returns.

FY25 operational and financial performance

• Achieved record operational performance at Mining Area C (MAC) and gold offtake contracts.

• Underlying EBITDA rose 10% to $250 million with a 95% margin.

• $116 million in fully franked dividends returned to shareholders, with a payout ratio of 75% of NPAT.

• Net debt at $271 million, with $205 million undrawn from $500 million credit facilities.

• Disciplined asset sales generated $124 million from non-core disposals, achieving strong IRRs.

Portfolio and asset updates

• Mining Area C delivered record production, with South Flank exceeding nameplate capacity.

• Thacker Pass lithium project secured $3.5 billion in funding, with construction underway and first production targeted for late 2027.

• Portfolio includes royalties over producing and development-stage assets in iron ore, lithium, copper, and precious metals.

• Key near-term milestones include MAC operating at nameplate capacity and Thacker Pass first production.