Molibdenos y Metales S A : Quarterly Reporting Document

Results 2022

February 2023

Financial performance

2022

REVENUES (MM US$)

By December 2022, Molymet sold 118 million pounds of molybdenum products, compared to the 134 million pounds sold by December 2021.

1,883.08

1,453.44

+30%

20212022

NET PROFIT (MM US$)

By the end of December 2021, Net profit was lower compared to same period of las year, due to the lower gross profit.

97.1989.78

-8%

20212022

EBITDA (MM US$)

NET DEBT (MM US$)

By the end of December 2022, 193.20	185.75
EBITDA decreased due to a	-4%

lower gross profit.

By the end of December 2022, Net Debt amounted US$ 302 million, equivalent to a Net Debt/EBITDA ratio of 1.63x

439.22

-31%

301.96

2021	2022	2021	2022

EBITDA COMPOSITION VARIATION (MM US$)

MAIN RATIOS

						10.76
	193.20
	-1.15	-17.06					185.75
	2021	Tolling	Own Sales	Byproducts	2022

• Revenue USD 1,883 MM	• Liquidity USD 199 MM
• Income USD 90 MM	• Net debt USD 302 MM
• EBITDA USD 186 MM	• Assets USD 1,975 MM
• Equity USD 846 MM	• CAPEX USD 42 MM

Ratio	December 2021	December 2022
Net Debt / EBITDA	2.27	1.63
Debt Ratio1	1.21	1.33
EBITDA / Financial	13.93	7.50
Expenses2
Current Liquidity3	2.44	2.23
Acid Ratio4	0.81	0.68

VARIATION % 2021 / 2022

-28.19%

9.92%

-46.16%

-8.61%

-16.05%

1 Corresponds to the total liabilities divided by the total equity.

2 Corresponds to the EBITDA divided by the financial expenses. 3 Corresponds to the total current assets divided by the total current liabilities.

4 Corresponds to the total current assets, less the current inventories, divided by the total current liabilities

FINANCIAL DEBT MATURITY PROFILE by December 31, 2022 (US$ MM)

MAIN RATIOS

30

	171
	121
80	81

0.5 0.5

Ratio	December 2021	December 2022
Net Debt / EBITDA	2.27	1.63
Debt Ratio1	1.21	1.33
EBITDA / Financial	13.93	7.50
Expenses2
Current Liquidity3	2.44	2.23
Acid Ratio4	0.81	0.68

VARIATION % 2021 / 2022

-28.19%

9.92%

-46.16%

-8.61%

-16.05%

2023	2024	2025	2027	2028
		Créditos Bancarios		Bonos		PAE

1 Corresponds to the total liabilities divided by the total equity.

2 Corresponds to the EBITDA divided by the financial expenses. 3 Corresponds to the total current assets divided by the total current liabilities.

4 Corresponds to the total current assets, less the current inventories, divided by the total current liabilities

Molybdenum Price evolution

Regarding the international price of molybdenum oxide, the yearly average went from US$ 15.85 per pound by December 2021 to US$ 18.77 per pound by December 2022, which meant an 18.42% increase.

Mo average monthly prices* (US$/Lb.)

30

25

/ LB

20

15

US$

10

5

0

Dec-20

Dec-15

Mar-16

Jun-16

Sep-16

Dec-16

Mar-17

Jun-17

Sep-17

Dec-17

Mar-18

Jun-18

Sep-18

Dec-18

Mar-19

Jun-19

Sep-19

Dec-19

Mar-20

Jun-20

Sep-20

Mar-21

Jun-21

Sep-21

Dec-21

Mar-22

Jun-22

Sep-22

Dec-22

Year

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Average Price

(US$/LB.)

10.32

11.39

6.65

6.48

8.21

11.94

11.35

8.69

15.85

18.77

*Source: METALS WEEK D.O. USA