Financial Performance & Strategy - Mercury's FY25 EBITDAF was $786 million[23] - The ordinary full-year dividend for FY25 was 24 cents per share[23] - FY26 guidance includes an EBITDAF of $1 billion and a dividend of 25 cents per share, with Stay-In-Business (SIB) Capex at $150 million[23] - Mercury aims to deliver 35 TWh of new generation by 2030, increasing total generation by approximately 40% per annum[19] - The company is targeting operating costs of $370 million per annum over FY26-28 through core optimization[28] - Mercury is targeting an EBITDAF between $115 billion and $125 billion by FY30[28] Generation & Development - Total renewable generation in FY25 was 79 TWh, a 10% decrease compared to the previous corresponding period (PCP), primarily due to dry conditions[17] - Mercury has three major builds under construction simultaneously, totaling 11 TWh and $1 billion[17] - The company plans to grow its generation pipeline to over 8 TWh by 2030[28] Customer & Market - Total customer connections increased by 5% to 906k, driven by growth in the multi-product offer[17] - Mercury has signed long-term supply agreements with NZAS, Visy, and Fonterra, representing approximately 1 TWh of electricity per year[104]

Financial Performance - MMG achieved record financial results in the first half of 2025, with Net Profit After Tax (NPAT) of US$566 million, a 612% increase year-on-year[18] - EBITDA increased by 98% year-on-year to US$1,540 million[18] - Revenue increased by 47% to US$2,817 million in 1H 2025 compared to US$1,918 million in 1H 2024[47] - The gearing ratio decreased to 33%, down from 41% at the end of 2024[18] Production and Operations - Copper production increased significantly, with contained metal produced rising to 259kt in 1H 2025, a 64% increase compared to 158kt in 1H 2024[21] - Zinc production saw a slight decrease of 1%, with 108kt produced in 1H 2025 compared to 110kt in 1H 2024[21] - Revenue from copper sales increased to 78% of total revenue in 1H 2025, up from 72% in 1H 2024[22, 23] - Las Bambas copper production reached 211kt in 1H 2025, driven by higher ore milled grades[25, 27] - Khoemacau copper production increased to 22kt in 1H 2025, a 121% increase compared to 1H 2024[60] Strategy and Outlook - MMG is committed to debt reduction, with a focus on enhanced financial strength[73, 75] - The company is investing in growth and capacity expansion projects, including Las Bambas, Kinsevere, and Khoemacau[80, 81] - MMG is pursuing a nickel acquisition with an upfront cash consideration of US$350 million[82]

Core Viewpoint - ASEAN countries possess abundant natural resources, a growing market, a youthful demographic structure, and a shared development destiny, which necessitates enhanced cooperation to accelerate regional green transformation and collectively address the climate crisis while building a low-carbon future [1] Group 1 - ASEAN countries are encouraged to strengthen collaboration to tackle climate challenges [1] - The region's rich natural resources and young population present opportunities for sustainable development [1] - The emphasis is on a collective approach to achieve a low-carbon future [1]