Slide 1: December 2022 Half Year Financial Results Presentation
December 2022 Half Year Financial Results Presentation 28 February 2023 Access the live webcast of this presentation commencing at 10.00am (AWST) / 1.00pm (AEDT) at the link below: SANDFIRE WEBCAST
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer This presentation has been prepared by Sandfire Resources Ltd (Sandfire or the Company) and contains information about Sandfire Key assumptions current at the date of this presentation. The presentation is in summary form, has not been independently verified and
Slide 3: Our Strategy
Our Strategy Execute Sustain and Grow Accelerate Align and Empower Optimise Capital Delivery Our Production Discovery Our People Strategy and Pipeline Engagement Our Values Honesty Respect Collaboration Accountability Performance 3
Slide 4: Where we operate
Where we operate Scale One of the largest copper-focused miners on the ASX Future-facing Producing copper, a critical metal for a low-carbon future Growth Pivoting to new long-life mines in Spain, Botswana and USA Exploration Four world-class mineral provinces Operating Mines Development Phase Study
Slide 5: Rising production: Copper and zinc growth
Rising production 120,000 Copper and zinc growth 100,000 80,000 60,000 Combined MATSA (4.7Mtpa) and Motheo (5.2Mtpa DFS) operating scale1 producing: 40,000 ~110-120ktpa contained copper ~80-100ktpa contained zinc 20,000 0 Copper (t) Zinc (t) Lead (t) Gold (oz) Silver (koz) FY2023 FY2024 FY2025 1 - C
Slide 6: HY2023 Group Production
HY2023 Group Production Copper Dominant 1H FY2023 FY2023 Revenue Stream Production: Guidance: 48,088t Copper 83-91kt Copper 39,290t Zinc 78-83kt Zinc 4,398t Lead 6-10kt Lead 12,777oz Gold 12-14koz Gold 1.3Moz Silver 2.2-3.2Moz Silver Contained metal Contained metal Processing of surface stockpiles a
Slide 7: HY2023 Delivering growth
HY2023 Delivering growth In US$ $431.7M Delivering $263.7M cash Development of the Motheo Copper Global Sales revenue growth in holding Mine is proceeding on time with first opportunities high-margin production scheduled from early in the for near-mine $174.6M production extensions Operations Net de
Slide 8: HY2023 EBITDA Contribution
200 HY2023 MATSA 174.6 DeGrussa EBITDA 94.6 Contribution 150 (20.0) (2.2) (16.5) 135.9 100 In US$M 80.0 50 - Operations EBITDA Exploration and evaluation Impairment Corporate and other Group EBITDA - HY2023 1. MATSA and Degrussa segment EBITDA is presented in the Notes to the Half-Year Financial Rep
Slide 9: HY2023 NPAT to Operations EBITDA
HY2023 180 16.5 174.6 20.0 NPAT to 150 32.2 135.9 2.2 Operations 120 (5.8) EBITDA 137.8 90 In US$M 60 30 (28.3) 0 -30 Net profit / Depreciation & Net finance Tax Group EBITDA Impairment Exploration and Corporate and Operations (loss) after tax amortisation costs evaluation other EBITDA 1. Net financ
Slide 10: HY2023 Group Cash Flow Waterfall
HY2023 800 110.0 Group Cash 700 131.1 Flow Waterfall 600 78.7 64.5 (55.3) (248.9) 500 463.1 (17.7) 400 In US$M (162.2) 300 … (57.4) (42.3) 200 100 0 Opening cash DeGrussa MATSA cash QP Net equity Motheo debt Debt Exploration Capital Income tax Other Closing cash - 1 July 2022 cash flows flows from a
Slide 11: HY2023 Debt facilities and hedging
HY2023 Debt facilities and hedging MATSA Facility Motheo Facility Hedge Book • $452M outstanding following • $140M T3 Project Finance Facility based • Copper – FY2023 remaining: 33,028t $80M repayment made on on 3.2Mtpa base case development at US$8,715/t 31 January 2023 • First $55M drawdown comple
Slide 12: HY2023 Balance sheet transition
HY2023 Balance sheet transition Capital management focus • Focus on period of transformative growth • Additional $40M - $60M for the 5.2Mtpa • A$200M Corporate debt facility fully repaid • No interim dividend declared Motheo Expansion Project, including • Capital position to support Ore Reserve • $1
Slide 13: Motheo Copper Project
Motheo Copper Project Motheo Copper Mine Exploration • T3 Deposit Development • Motheo Expansion Project • A4 Deposit Expansion Project • Kalahari Copper Belt tenure
Slide 14: Motheo Copper Project: Building a world-class copper mine
Motheo Copper Project Building a world-class copper mine Development of the Motheo Development of the 5.2Mtpa Sandfire is funding the development Copper Mine is proceeding on time Motheo Expansion underway of the Motheo Copper Mine through a with first production scheduled from combination of cash a
Slide 15: Primary Crusher and Stockpile Feed Conveyor Commissioning
Primary Crusher and Stockpile Feed Conveyor Commissioning • View looking along stockpile feed conveyor to stockpile. • Initial discharge to stockpile. • Commissioning commenced late February 2022, with first ore crushed ahead of production ramp-up, scheduled for the June 2023 Quarter 15
Slide 16: Motheo Copper Mine: Construction & Development Capital
80 400 23.6 70 350 Motheo Copper Mine 60 300 5.2Mtpa Construction & Development Capital 50 250 Millions 40 200 Millions Development capital estimated at $397.4M 30 150 • Motheo (3.2Mtpa and T3) $325.5M • Motheo (5.2Mtpa expansion and A4) $71.9M 20 100 • $19M Contingency remains 10 50 At 31 Dec 2022,
Slide 17: Summary
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Slide 18: Key Takeaways
Key Takeaways Strong growth platform Global vision Copper-dominant mining Our transformation into a diversified, operations generating operating international and sustainable copper cash-flows mining company New Production Hubs Strong Pipeline Refreshed and focused Group production from the MATSA Hi
Slide 19: Contact Details
Contact Details +61 8 6430 3800 +61 8 6430 3849 www.sandfire.com.au Corporate Head Office Level 2, 10 Kings Park Road West Perth WA 6005 Australia PO Box 1495 West Perth WA 6872 Australia