RMB Morgan Stanley

Off Piste Conference

20 September 2023

Core message

Our strategy is

working and

Substantial progress

provides a trajectory

made on strategic

for sustained long-

projects

term growth

Company culture and high standard of

execution supports Group moats

2

1

WHAT

WE DO

A leading, empowered mid-tier

mining and materials supply company

What we do

Growth through structured diversification

Construction

Materials

Aggregates | readymix | concrete products

  • 26 commercial quarries
  • 22 commercial readymix concrete plants
  • 2 clinker sources (largest clinker ash processor in South Africa - 1,5 million tonnes)
  • 8 precast operations
  • 7 sand mines

Industrial

Minerals

Limestone | dolomite | industrial sands

  • 2 limestone sources
  • 2 dolomite sources
  • 1 agricultural limestone mine

Bulk Commodities

Iron ore | anthracite

  • 3 iron ore mines
  • 1 anthracite mine

Future

Materials and Metals

Phosphate | vermiculite | rare earth elements

  • Phosphate, vermiculite and rare earth minerals
  • Track record of excellence and core competence in mid-tier mining and materials supply
  • Well diversified across different industries, commodities and processes to ensure consistent delivery
  • PAT CAGR of 18,9% (Feb 2009 - Feb 2023)

Return on net operating assets 24% (2022: 33%)

Rationale for and result of diversified structure

  • Good blend of locally and internationally priced commodities
  • Exposure to different currencies
  • Exposure to different economic cycles
  • Similar operational skills
  • Smooth growth for more than a decade
  • Allowing for longer life-of-mine
  • Creates many opportunities

Profit history with and without acquisitions

600

500

400

1.

Glen Douglas

2.

Clinker Group

Cents

300

3.

Infrasors

4.

Cape Lime

200

5.

Demaneng

6.

Nkomati

100

7.

Jenkins

8.

Glenover

0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Headline earnings per share

Reality without strategic acquisitions

5

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Afrimat Limited published this content on 22 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2023 07:09:07 UTC.