METRO MINING LIMITED — Earnings Release 2022

Feb 27, 2023

Metro Mining Limited and Controlled Entities

ABN 45 117 763 443

Appendix 4E

Results for announcement to the market

(all comparisons to 12 months ended 31 December 2021)

Results for announcement to the market(all comparisons to 12 months ended 31 December 2021)
	$’000s	Movement	Movement%
Revenue from ordinary activitiesLoss for the year from continuing operationsUnderlying loss before tax from ordinary activities(i)	177,895(50,122)(49,784)	IncreasedDecreasedDecreased	11.09(92.22)(95.66)
Underlying EBITDA from ordinary activities(i)	(24,824)	Decreased	(2.76)

(i) The financial results of Metro Mining Limited are reported under International Financial Reporting Standards (IFRS). These results include certain non-IFRS measures including Underlying Profit / (Loss) before Tax from Ordinary Activities and Underlying EBITDA from Ordinary Activities. These measures are consistent with measures used internally and are presented to enable understanding of the underlying performance of the Company. Non-IFRS measures have not been subject to audit or review. A reconciliation to Profit / (Loss) before Tax from Continuing Operations is included below.

Dividend information

No dividends were declared or paid during the financial year.

Net tangible assets per security

Net tangible assets per security
	31 Dec 2022	31 Dec 2021
Net tangible assets per security	$0.004	$0.014

Reconciliation of profit before tax from continuing operations to underlying EBITDA from ordinary activities

	12 Months31 Dec 2022$’000s	12 Months31 Dec 2021$’000s
Profit / (loss) before tax from continuing operationsForeign exchange lossAmortisation of deferred borrowing costs	(50,122)214124	(96,344)(1,102)39
Underlying profit / (loss) before taxNet finance costs (excluding leasing expense)Impairment LossDepreciation and amortisation	(49,784)10,869-14,091	(97,407)4,25855,68611,955
Underlying EBITDA from ordinary activities	(24,824)	(25,508)

This information should be read in conjunction with the 31 December 2022 Annual Report.

Additional information supporting the Appendix 4E disclosure requirements can be found in the Directors’ Report and the consolidated financial statements for the year ended 31 December 2022.

This report is based on the consolidated financial statements for the year ended 31 December 2022 which have been audited by Ernst & Young.

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