CORPOR ATE PRESENTATION 2024

03 CORPORATE PRESENTATION 2024

Foreword04
Introduction06
Key numbers 09
What we trade 10
Our Story 12
Global footprint 14
Sustainability16
Social Impact Initiatives 18
A reliable and long-term partner 20
Value chain 24
Logistics operations 26
Investment strategy 30
Your partner in metals 32
Contact34
04 FOREWORD IXM 05 CORPORATE PRESENTATION 2024

"At IXM, we are driven by our core values, our customers’

needs, our commitment to sustainability and long term
profitability. Your success is our priority, and we are com-
mitted to providing customized solutions quickly, that
enable you to succeed. Through operational excellence
and our partnerships, we are helping shape the future of
metal and metal concentrate marketing and trading."

Kenny Ives
Chief Executive Officer
06 INTRODUCTION IXM 07 CORPORATE PRESENTATION 2024

Introduction
IXM is part of the CMOC group and offers a leading Our business is customer and stakeholder
physical commodity trading solution that is built focused and we pride ourselves on operating
on 6 key pillars: in accordance with our core values:

World-class contract execution ori- Best in-class risk management

ginating, storing, transporting, and and key functional teams.
delivering metals globally in service
of our customers. RESPECT HARD WORK

World-class micro research. Business Development and STF

We have a significant in-house expertise structured to enable
research presence across all our key business. TEAMWORK CORE VALUES INTEGRITY
verticals with dedicated
expertise.

World-class marketing and Unparalleled footprint in China RESPONSIBILITY CURIOSITY

physical trading underpinned where we trade both CIF
by a global team of experienced and domestic business across
and customer-focused commercial 4 local offices. HUMILITY
professionals and commodity-
specific traders.
08 KEY NUMBERS IXM 09 CORPORATE PRESENTATION 2024

A global metals and IXM

minerals merchant Key numbers
ESTABLISHED IN 2006

80+
COUNTRIES OF COMMERCIAL ACTIVITIES

IXM is one of the leading marketers and traders of physical metals

and metal concentrates. IXM plays a key commercial role at each
stage of the metals supply chain, particularly new energy metals,
450+
EMPLOYEES WORLDWIDE
helping enable the energy transition. IXM’s global team of 450+
people, spread across offices in the Americas, Europe, Africa, and
Asia are providing a full range of services to all our customers
whether they are miners, fabricators, consumers or even other
traders. We focus our energies on our customers needs, making
markets wherever required and helping others manage the risk
6+
inherent in the commodities business, whilst providing world class MMT METALS SUPPLIED

contract execution, logistics and financing solutions to the metals

industry.

To find out more, visit our website: 20+

ixmetals.com BN USD ANNUAL TURNOVER
10 WHAT WE TRADE IXM 11 CORPORATE PRESENTATION 2024

What we trade
We are one of the largest merchants of nonferrous metals globally
and play a key commercial role at each stage of the metals supply chain,
helping enable the energy transition.

COPPER NIOBIUM NICKEL

Copper metal, intermediates and concentrates Ferroniobium Nickel metal, FerroNickel, Nickel Pig Iron and Nickel intermediates

ZINC & LEAD COBALT LITHIUM

Zinc & Lead metal and concentrates Cobalt metal and intermediates Spodumene concentrates Electric Vehicule
12 OUR STORY IXM 13 CORPORATE PRESENTATION 2024

Our story

2006 2013 2019 2023

Metal business unit Started operating Started Niobium / Reached 6m MT
established; started Callao Cobalt Hydroxide annual volume.
Copper / Zinc / Lead warehouse Peru. books. Established UCT
Concentrates and Reached 2m MT Reached 5m MT (Ushaka Cargo Termi-
refined Copper books. annual volume. annual volume. nals Durban), the 2nd JV
with Access World.
2
6

2010 2015 2017 5 2021

Established WBCT Started Aluminium Reached 4m MT WBCT (Walvis Bay
(Walvis Bay Terminal book. annual volume. Terminal Namibia)
Namibia), the 1st JV reached 1m MT
with Access World. throughput.
4

2020
Expansion of Callao
warehouse with
2009 2014 2016 additional
capacity for Lead
Reached 1m MT Reached 3m MT Started refined Concentrates.
annual volume. annual volume. Cobalt book. Started Nickel book.

1 3

2012
2005 2022
Started refined Zinc/
Lead books.
2018
LDC group acquired Started Lithium book.
Mitsui’s base metals Change of principal
book, traders based shareholder, LDC
in London. Metals becomes IXM.

LDC: LOUIS DREYFUS COMPANY VOLUMES: MMT (MILLION METRIC TONNES)

14 GLOBAL FOOTPRINT IXM 15 CORPORATE PRESENTATION 2024

A diversified and
expanding global footprint

LONDON

GENEVA ZUG

SOFIA
WESTPORT ISTANBUL BEIJING
SANDAO ZHUANG QINGDAO

SHANGFANGGOU SHANGHAI
KUNMING
IXM CARGO TERMINALS MANZANILLO NANDAN
FOSHAN
(OWNED/LEASED) PUEBLA MENGZI

IXM WAREHOUSES
(OWNED/LEASED)

IXM OFFICES SINGAPORE

HUAYUE
CMOC MINES & SITES TFM / KFM
NICKEL COBALT
CALLAO PROJECT
LIMA
COPPER BOA VISTA
CHAPADÃO
COBALT RIO DE JANEIRO WALVIS BAY
JOHANNESBURG
NIOBIUM
USHAKA CARGO TERMINALS
SANTIAGO (UCT)
NICKEL

MOLYBDENUM

TUNGSTEN

PHOSPHORE
16 SUSTAINABILITY IXM 17 CORPORATE PRESENTATION 2024

Sustainability

EMPOWERING THE CLEAN ENERGY TRANSITION

At IXM, we play a pivotal role in enabling the Clean Energy Tran-
sition. We facilitate the distribution of critical metals essential for
powering the transition to a low-carbon economy.

PRIORITIZING SUSTAINABILITY
We acknowledge the risks posed to both people and the environ-
ment within mineral supply chains. At IXM, we take proactive mea-
sures to mitigate these risks by integrating ESG considerations into
our business decisions and supply chain due diligence process.

IXM is a proud partner to The Copper Mark, a leading ESG

framework for companies to demonstrate responsible production
of copper, nickel, zinc, and molybdenum. By addressing past, pre-
sent, and future critical impacts on people and the environment
throughout metal value chains, The Copper Mark contributes to
positive legacies and a sustainable society. IXM recognizes the
credibility of The Copper Mark and is committed to embed its
principles in IXM’s responsible sourcing strategy and activities.

In 2023, IXM was honored to receive the prestigious Gold Medal LEADING COLLECTIVE ACTION
Rating by Ecovadis, underscoring our unwavering commitment Re|Source is a blockchain solution to end-to-end cobalt tracea-
to Environmental, Social, and Governance (ESG) principles. Our bility from the mine to the electric car. IXM is proud to be part
Responsible Sourcing Policy is implemented worldwide, aligning of this consortium of companies operating across the critical mi-
closely with the IXM Group Code of Conduct. It reflects our dedi- neral supply chain for Electric Vehicles (EVs), with the purpose to
cation to upholding core corporate policies and adhering to the accelerate sustainable practices for every unit of cobalt mined,
OECD’s Due Diligence Guidance for Responsible Supply Chains. processed and used.

To find out more, visit our website:

ixmetals.com
18 SOCIAL IMPACT INITIATIVES IXM 19 CORPORATE PRESENTATION 2024

Social Impact Initiatives

IXM has been actively engaged in various initiatives to contribute

positively to the world aligning with some of the United Nation’s
goals. Throughout the years, the company has demonstrated its
commitment to social responsibility through its support to diverse
causes and organizations.

Notable initiatives include support from One-to-One Children’s

Fund in South Africa, focusing on reducing child mortality, and
Healthy Learners in Zambia, training teachers as health workers.
Looking ahead, IXM aspires to expand its charitable contributions,
striving to create a meaningful impact locally.

Through our participation in Better Mining and the Fair Cobalt

Alliance, IXM supports responsible mining and legitimate ASM
formalization efforts underpinned by strong country, mining com-
pany and supply chain governance. IXM however, takes actions in
its due diligence process to stop sourcing minerals where the due
diligence process identifies unacceptable risks of ASM activity in
the IXM supply chain in areas defined as a conflict-affe­c ted-and
high-risk area (CAHRAs).
20 A RELIABLE AND LONG-TERM PARTNER IXM 21 CORPORATE PRESENTATION 2024

A reliable and
long-term partner

PARTNERSHIP Strong, long-term and reliable partner GLOBAL COMPANY Present in all major markets at origin and destination
Customer-centric Significant China domestic presence
Professional contract management
Flexible and pragmatic

RISK MANAGEMENT Reputational risk DIVERSIFICATION Active in concentrates, refined metals and intermediates
Rigorous due diligence processes Best in class market intelligence and proprietary
Liquidity Risk research capabilities
Market Risk Comprehensive solutions for industrial players
Credit Risk

VALUE INTEGRATION Presence along the entire value chain generating FINANCIAL STRENGTH Healthy balance sheet with optimized cost of funding
synergies between partners Strong financial partners and owners
Long-term contracts, with financing capabilities Competitive and creative financial solutions
Logistics capabilities in most geographies
22 A RELIABLE AND LONG-TERM PARTNER IXM 23 CORPORATE PRESENTATION 2024

IXM WAREHOUSE
Callao, Lima, Peru
24 VALUE CHAIN IXM 25 CORPORATE PRESENTATION 2024

Partner along
the entire value chain
IXM’s strength lies in our ability to work with our customers
throughout the entire value chain. We de-risk, facilitate,
and support at every step of the process.

CONCENTRATES REFINED

MINING DOMESTIC WAREHOUSE OCEAN WAREHOUSE SMELTERS TRANSPORT MANUFACTURERS

TRANSPORT PORT TRANSPORT PORT REFINERS WAREHOUSE
26 LOGISTICS OPERATIONS IXM 27 CORPORATE PRESENTATION 2024

Logistics operations MAIN IXM WAREHOUSING OPERATIONS:

PERU Peru warehousing activity consists in sourcing, blending, storing,

Callao port transporting and exporting metals and minerals including copper,
We cooperate with more than 150 third party warehouses zinc and Lead concentrates produced mainly in the centre of the
globally. Each facility is carefully selected through rigorous country. Callao’s location, close to Peru’s main polymetallic mining
due diligence processes according to IXM governance. areas with railway and highway access, makes it a strategic option for
IXM also provides efficient proprietary and sustainable export. In 2021, Callao’s storage was increased to a total throughput
storage services in strategic locations. capacity of more than 450’000 WMT.

MEXICO Manzanillo is strategically located on the Mexican Pacific Coast pro-

Manzanillo port viding efficient connection to Asia main ports. Hazesa in agreement
with IXM provides services to handle, condition, blend and export
concentrates and refined metals on a global scale.

NAMIBIA Walvis Bay terminal (WBCT), located in the port of Walvis Bay, Namibia,
Walvis Bay port is a Joint Venture with Access World. Established in 2010, WBCT offers
warehouse handling and logistics services to clients locally within
Namibia and along the Walvis Bay Corridor from the DRC and Zam-
bia. WBCT hand­les a wide range of products including copper ca-
thodes, copper blister, copper concentrate and cobalt intermedia-
ries as well as mining related chemicals and project cargo.

SOUTH AFRICA Ushaka Cargo Terminals (UCT), located outside the port of Durban
Durban port at a prime location, is the second joint venture with Access World.
Established 1st September 2023, UCT offers on 55,000 sqm a state-
of-the-art facility which was build according to the most modern
standards. UCT will handle CMOC’s & IXM’s as well as 3rd parties
export cargo, focusing on copper, copper concentrates and blister
as well as cobalt intermediaries. On the import, the joint venture tar-
gets project cargo, general cargo and chemicals.

CHINA The warehouses located in Shandong, Yunnan and Guangxi pro-

Qingdao, Mengzi, Nandan vinces, provide sourcing, blending, storing, and transporting of
Copper, Zinc, Lead and Gold concentrates. IXM warehouses in Chi-
na promote effective business cooperation with clients as they are
adjacent to local smelters and convenient transportation.
28 LOGISTICS OPERATIONS IXM 29 CORPORATE PRESENTATION 2024

IXM WAREHOUSE
Callao, Lima, Peru
30 INVESTMENT STRATEGY IXM 31 CORPORATE PRESENTATION 2024

Investment strategy
Our robust balance sheet and our strong relationships with leading
global financial institutions, enable us to develop innovative solutions
adapted to our partners’ needs.

IXM is in a position to offer a broad range of financial solutions

in combination with long-term offtake agreements at competitive
commercial terms across our business lines.

MINING, SMELTING & REFINING LOGISTICS

Project Finance Equity Participation Warehouse acquisition

Working capital Senior or junior debt Operate third-party warehouse
Cost overrun facility Tolling agreement Terminals and/or port facilities
Long-term prepayment Set-off financing structures Minority equity
Hedging Facility Joint venture
32 YOUR PARTNER IN METALS IXM 33 CORPORATE PRESENTATION 2024

Your partner in metals

IXM WAREHOUSE
Callao, Lima, Peru
34 CONTACT IXM

Contact

IXM S.A. This Document (the “Document”) was prepared by a representative of the IXM
group of companies (“IXM”) and the information the Document contains is current
as at the date the Document was prepared. No representation or warranty, express
or implied, is made, and no liability is assumed by IXM, or its directors, officers,
Rue de Lausanne 15 employees, consultants, advisors or shareholders, with respect to; the exactness,
reasonableness, authenticity, validity, or accuracy of any information, statements,
1201 Geneva forecasts, opinions or comments contained herein (the “Information”), the fitness
for anyspecific purposeofsuchInformation,orthatanyInformationremainsunchanged
in any respect as of any dates after the Document was prepared. Any recipient of
+41 58 611 65 88 this Document must make their own independent evaluation of the relevance and
adequacy of the Information contained herein. Accordingly, no express or implied
reliance may be claimed at any time by the recipient regarding the Document or the
www.ixmetals.com Information contained therein.