Pacific Lime and Cement Limited (PLA) Corporate Presentation summary

Equity raising and funding overview

• Institutional placement to raise approximately A$80 million via up to 285.7 million new CDIs, representing about 67% of existing CDIs on issue.

• Placement is partially underwritten to A$48.6 million, with the remainder from pre-commitments, including a ~A$3 million investment from Appian, contingent on debt facility conditions.

• Offer price set at A$0.28 per CDI, reflecting a 20% discount to last close and 20.8% to 5-day VWAP.

• Proceeds will fund Stage 1 and Stage 2 expansion capex for the Central Lime Project and general working capital.

• Barrenjoey Markets Pty Limited acts as Lead Manager and Underwriter.

Project portfolio and strategic positioning

• Construction commenced on a major lime and cement project in Papua New Guinea, with robust economics and rapid scalability.

• Central Lime Project features a long-life resource (382Mt JORC Resource), private wharf, and is fully permitted and construction ready.

• Stage 1 includes two kilns and hydration operations, targeting 400ktpa+ and ~US$34.5m annual EBITDA.

• Stage 2 expansion involves two additional kilns, with incremental US$35m capex expected to double EBITDA.

• Strategic location in PNG offers significant cost advantages in logistics, labour, and tax, with proximity to Australia and the Pacific.

Financials, capital structure, and economics

• Pro-forma market capitalisation post-placement estimated at A$199 million, up from A$149 million.

• Placement and Appian debt facility expected to fully fund Stage 1 capex of US$104 million.

• Updated Stage 1 economics reflect improved pricing, increased volumes, and inclusion of renewable energy, resulting in higher EBITDA.

• Stage 2 expansion requires US$35 million incremental capex for two additional kilns, with strong return on capital.

• Central Lime Project is expected to be cash generative within 18 months of construction commencement.