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    Tyler Broda

    Managing Director and Senior Analyst at RBC

    Tyler Broda is a Managing Director and Senior Analyst at RBC Capital Markets, specializing in global mining and metals research with a particular focus on major companies in the iron ore and base metals sectors. He covers industry leaders such as Rio Tinto, BHP, and Glencore, providing both quantitative and qualitative analysis that has informed institutional investment strategies, and his ratings frequently appear in leading financial news and investment platforms. Broda began his career in equity research in the early 2000s, holding previous analyst roles at firms including Deutsche Bank before joining RBC, where he has built a track record of highly rated stock calls; according to TipRanks and Benzinga, his recommendations have demonstrated a strong success rate in generating alpha over industry benchmarks. He holds professional financial licenses, is registered with major securities regulatory bodies, and is recognized for his expertise in supply-demand analysis and forecasting trends in the global commodities market.

    Tyler Broda's questions to Glencore plc/ADR (GLNCY) leadership

    Tyler Broda's questions to Glencore plc/ADR (GLNCY) leadership • FY 2022

    Question

    Tyler Broda asked CEO Gary Nagle for his perspective on Glencore's fundamental structure and his 3-5 year vision for the company. He also asked Head of Assets Peter Freyberg about the key operational differences and challenges today versus a decade ago.

    Answer

    CEO Gary Nagle stated the company's structure is strong and his focus is on evolution, not revolution. This includes growing the recycling business, maintaining strict M&A discipline, and expanding the marketing platform into adjacent areas like carbon. Head of Assets Peter Freyberg noted that stronger long-term commodity demand is now balanced by greater operational challenges in key jurisdictions, making strong ESG and community performance more critical than ever for enabling growth.

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    Tyler Broda's questions to Glencore plc/ADR (GLNCY) leadership • Q2 2022

    Question

    Tyler Broda from RBC Capital Markets asked about the outlook for cobalt payabilities over the next 1-2 years and inquired about the progress of the company's partnership strategy with automotive OEMs.

    Answer

    CEO Gary Nagle expressed confidence that cobalt payabilities will normalize as demand from China recovers and inventories deplete, citing strong long-term fundamentals. He highlighted the company's progress with OEMs, mentioning a collaboration with General Motors, a supply agreement with Tesla, and ongoing discussions with others for broad partnerships that include supply and recycling.

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    Tyler Broda's questions to Glencore plc/ADR (GLNCY) leadership • Q2 2017

    Question

    Tyler Broda requested a sensitivity analysis for the royalty and price-linked mechanisms within Glencore's coal business, asking for the best way to model this impact.

    Answer

    CFO Steven Kalmin acknowledged that price-linked royalties exist in all of Glencore's coal regions (South Africa, Colombia, Australia) but explained that the mechanisms are complex and vary by jurisdiction. He noted that it was a relevant factor given price volatility and suggested that the company could provide more detailed guidance on the topic at its November investor update.

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