Slide 1: March 2026 Quarterly Report Webinar
MARCH 2026 Q UA R T E R LY R E P O R T WEBINAR BRUCE GRIFFIN EXECUTIVE CHAIR 4 May 2026 ASX: SFX www.sheffieldresources.com.au
Slide 2: Notice and Disclaimer
NOTICE AND DISCLAIMER IMPORTANT: You must read the following in conjunction with this document. Summary information in relation to Sheffield This document contains summary information about Sheffield Resources Limited (ACN 125 811 083) (Company or Sheffield), its subsidiaries and their activities wh
Slide 3: Corporate Overview
CORPORATE OVERVIEW Mineral Sands production and development Targeting advanced projects with potential to unlock value by applying Sheffield’s mineral sands and SHEFFIELD RESOURCES commercial experience Generating growing cash returns Corporate Management and Capital Allocation 50% 20% Optio
Slide 4: Thunderbird Mine
THUNDERBIRD MINE PROCESS PLANT AND PRODUCT STOCKPILES APRIL 2026 MINE APRIL 2026 Sheffield Resources Limited I ASX: SFX I Assembling a portfolio of global mineral sands development and production assets to generate cash returns and growth 4
Slide 5: Thunderbird Business Plan
THUNDERBIRD BUSINESS PLAN Revised Plan March 2025: Increase mining rate to 16mtpa by Q1 FY27 Progress Increase waste mining capacity by mid 2025 Drill and blast since January 2025 Drill and Blast, new larger excavator and truck fleet, new contractor New waste contractor/larger fleet deployed
Slide 6: Mine Throughput
MINE THROUGHPUT 3,500,000 35 3,000,000 30 2,500,000 25 RHF (tonnes) HM Grade (%) 2,000,000 20 1,500,000 15 ► Ore mine declined Q on Q driven by: 1,000,000 10 DMU outages and reliability Dozer fleet availability and mine contractor productivity 500,000 5 Seasonal weather impacts KMS implement
Slide 7: Process Plant Recovery and Grade
PROCESS PLANT RECOVERY AND GRADE 90% 80% 70% 60% 50% 40% ► TiO2 and ZrO2 content consistent with prior quarters 30% ► TiO2 and ZrO2 recovery lower than prior quarters 20% ► KMS is identifying the causes and implementing changes to improve recoveries 10% 0% Q3 FY25 Q4 FY25 Q1FY26 Q2FY26 Q3FY26 ZrO2 R
Slide 8: Ore Production
ORE PRODUCTION 5 ► Weak March quarter – recovery plan being implemented 4 Ore Tonnes Mined (millions) 3 2 1 0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Actual Forecast Sheffield Resources Limited I ASX: SFX I Assembling a portfolio of global mineral sands development and production assets to generate
Slide 9: Zircon Concentrate Production and Sales
ZIRCON CONCENTRATE PRODUCTION AND SALES 90,000 ► March Q impacted by lower ore mined and recovery 80,000 ► Sales matched production with all sales to third parties 70,000 60,000 Product Tonnes 50,000 40,000 30,000 20,000 10,000 0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Production Sales Sheffield Res
Slide 10: Ilmenite Concentrate Production and Sales
ILMENITE CONCENTRATE PRODUCTION AND SALES 300,000 ► March Q impacted by lower ore mined and recovery ► Shipment deferred from December quarter due to tropical cyclone Hayley 250,000 200,000 Product Tonnes 150,000 100,000 50,000 0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Production Sales Sheffield Res
Slide 11: C1 Cash Costs (excluding inventory movement)
C1 CASH COSTS (excluding inventor y movement) $500 ► Increase in Q3 FY26 driven by lower production volume ► Stringent cost focus throughout KMS $400 A$/tonne produced $300 $200 $100 $0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Sheffield Resources Limited I ASX: SFX I Assembling a portfolio of global
Slide 12: Thunderbird Q3 FY2026 Cashflow (100% Basis)
THUNDERBIRD Q3 FY2026 CASHFLOW (100% BASIS) $70,000 ► Positive $20.4m operating cashflow in March quarter Inflated by timing of customer inflows and supplier outflows $60,000 ► No interest payments (deferral and waiver agreement) ► Lease repayments in line with amortisation profile $50,000 ► End q
Slide 13: Thank You
THANKYOU Registered and Corporate Office Sheffield Resources Limited 45 Ventnor Avenue West Perth WA 6005 +61 8 9215 6500 info@sheffieldresources.com ASX: SFX www.sheffieldresources.com.au Sheffield Resources Sheffield Resources