PLS Group (PLS) AGM 2024 summary

Opening remarks and agenda

• The meeting opened with a 10-year anniversary reflection on the Pilgangoora project's journey from humble beginnings to a leading global lithium producer.

• A Welcome to Country was delivered by Whadjuk Nyungar Elder Dr. Len Collard, emphasizing cultural respect and the company's role in economic prosperity and sustainability.

• The Chairman introduced the Board, executive team, and outlined the hybrid meeting format, encouraging shareholder participation both in-person and online.

• Acknowledgement of Traditional Owners of the land, including Whadjuk Noongar, Nyamal, and Kariyarra peoples.

Financial performance review

• Achieved record production of 725,329dmt and maintained an EBITDA margin of 43% for FY24.

• Cash balance at $1,626M, supporting ongoing and future projects.

• Five-year share price growth exceeded 800%, with market capitalisation around A$8bn.

• A $1 billion revolving credit facility was secured, enhancing financial flexibility and lowering financing costs.

• The company maintained a strong balance sheet and continued to focus on cost reduction and efficiency improvements.

Board and executive committee updates

• Kathleen Conlon delivered her first address as Chairman, highlighting her governance experience and commitment to transparency.

• The Board emphasized strong governance, compliance, and independent decision-making.

• Board and executive transitions were acknowledged, with appreciation for past and current leadership.