Lifezone Metals (NYSE:LZM) Earnings Call Presentation

Project Overview - Lifezone Metals owns 84% of the Kabanga Nickel Project, a world-class, high-grade, development-ready nickel-copper-cobalt sulfide deposit[35] - The Kabanga project has proven and probable mineral reserves of 43.9 million tonnes grading 1.98% nickel, 0.27% copper, and 0.15% cobalt[95] - The project is expected to have an 18-year mine life with a steady-state throughput of 3.4 million tonnes per annum[36] - The project's after-tax NPV8% is $1.58 billion and the after-tax IRR is 23.3% at $8.49/lb Ni[36] Financials and Costs - The Kabanga project has a first quartile AISC (All-In Sustaining Cost) of $3.36/lb Ni net of credits[36] - The Life of Mine revenue is projected to be $14.1 billion, with an after-tax free cash flow of $4.6 billion[50] - The project has a high capital efficiency of 1.4x (NPV/pre-production CAPEX)[36] Strategic Importance - Nickel is critical for U S energy requirements and industries, including battery energy storage for AI, stainless steel, aerospace, and defense[18, 20, 22, 23] - Lifezone's Kabanga Project is a strategic critical metals asset, one of the largest and highest-grade development-ready nickel sulfide deposits[28] - The project is fully permitted with execution readiness underway, and political risk insurance and project finance discussions are in progress[32] Recycling Project - Lifezone is pursuing a Platinum, Palladium, and Rhodium (PGM) recycling project in the USA with Glencore[32, 65] - Glencore has invested $1.5 million for 6% of the PGM recycling project, with an option to fund 50% of the project capex[71]