Slide 1: Full Year ended 30 June 2025
Full Year ended 30 June 2025 Creating Value by Providing a Pathway to Decarbonisation and Circularity 19 August 2025
Slide 2: Disclaimer
Disclaimer The material contained in this document is a presentation of information about the Group’s activities current at the date of the presentation, 19 August 2025. It is provided in summary form and does not purport to be complete. It should be read in conjunction with the Group’s periodic rep
Slide 3: Agenda
Agenda Results Overview & Strategic Progress Stephen Mikkelsen, Group CEO & Managing Director Financial Results Warrick Ranson, Group CFO Outlook Stephen Mikkelsen, Group CEO & Managing Director Sims Metal Kwinana, Western Australia 3
Slide 4: Results Overview
Results Overview Stephen Mikkelsen, Group CEO & Managing Director 4
Slide 5: Delivering On Strategy
Delivering On Strategy Create a World without Waste to Preserve our Planet Key Strategic Priorities Repurpose and Recycle Customers Suppliers Operational Innovative & Invest Efficiency Agile Responsibly Operating Efficiency - Getting the Business Model Right Key raw material Part of our Safe operati
Slide 6: Operational Highlights
Operational Highlights Unprocessed Scrap Trading Margin % Shredder Capacity Proportion Utilisation Sims Metal + 7 ppts + 2 ppts + 2 ppts 1,2 ex GTO 72% in FY25 22% in FY25 58% in FY25 3 Repurposed Units Revenue EBIT Margin % SLS 2 + 44% + 22% + 3 ppts 8.8m in FY25 $426.6m in FY25 8% in FY25 1 NAM an
Slide 7: FY25 Financial Results Overview
FY25 Financial Results Overview A$M FY25 FY24 Change • Sales revenue of $7,494.0 million, up 4.1% Sales Revenue 7,494.0 7,195.4 4.1 % reflecting increase in Metal average sales 1 Sales Volumes (million tonnes) 10.3 10.4 (1.2)% prices, higher non-ferrous pricing but offset by reduction in volumes Tra
Slide 8: Safe & Engaged Workforce
Safe & Engaged Workforce Safety performance excellence continued in FY25 Employee Health & Safety Employee Engagement Survey Total Recordable Injury Total Lost Time Injury Engagement Score Frequency Rate (TRIFR)¹ Frequency Rate² 0.27 82% 82% 1.24 1.00 0.11 FY19-FY24 Average FY25 FY19-FY24 Average FY
Slide 9: Solid Execution in Difficult Markets
Metals Solid Execution in Difficult Markets 1 2 Total Sims Metal's EBIT and Market Prices 408 397 388 395 362 379 368 353 132 140 98 87 1H24 2H24 1H25 2H25 Total Sims Metal EBIT A$M¹ HMS Turkey USD/mt³ Shred US Domestic USD/mt³ 1 Total Sims Metal's EBIT improved half on half despite persistent softn
Slide 10: NAM: Margin Improvement
NAM Margin Improvement Disciplined Trading & Cost Control Leveraged Asset Base Trading Margin Improvement • Shredder utilisation up 3.0 ppts Volumes and Trading Margin Percentage • Unprocessed ferrous purchases up 7% 20.7% 20.9% • Non-ferrous shipments up 7% 19.1% 17.5% • Past acquisitions (ARG, Bal
Slide 11: NAM: Pathway to Growth
NAM Pathway to Growth Market Drivers Margin Focused Operating Targeted Capital for Growth • Supportive tariff and infrastructure policies Model • Targeting US$100 million to US$150 million in land across three administrations have driven sales • More unprocessed value-add scrap; 90-day industry stre
Slide 12: ANZ: Non-Ferrous Supporting Resilience
ANZ Non-Ferrous Supporting Resilience • Increased demand for non-US origin material driven by Strong Fundamentals Cushioned Headwinds US/China trade tensions • Chinese steel exports remained elevated • Investments in core assets supported solid performance (offline recovery plants and expansion of c
Slide 13: ANZ: Executing Ahead of Structural Shift
ANZ Executing Ahead of Structural Shift Shifting Industry Fundamentals Strong Market Positioning Capital Aligned with Growth • Non-ferrous structural growth • Largest metal recycler in ANZ and • Strategic infrastructure: Pinkenba only national operator: diverse and and NZ rail link to Glenbrook EAF
Slide 14: SLS Earnings Exceeded Guidance
SLS SLS Earnings Exceeded Guidance 1 Delivered $32.6m EBIT in FY25 DRAM Price 4 $US/Chip Data Growth Momentum 3 EBIT CAGR 2 FY23-FY25 99% 1 FY20-FY25 14% Jul-23 Feb-24 Sep-24 Apr-25 Global Data Centre Capacity Demand Repurposed Units (million) 2 (Gigawatts) 10 Non-AI Workload 240 220 AI Workload 8 4
Slide 15: Scaling with Hyperscalers' Momentum
SLS Scaling with Hyperscalers' Momentum Market Growth Drivers Accessing Fastest-Growing Capital-Efficient, Segments • AI High-Margin • Decarbonisation • From ITAD to embedded strategic • Scale up through robotics and infrastructure supplier • Onshoring machine learning • Moving up in the value chain
Slide 16: Financial Results
Financial Results Warrick Ranson, Group CFO 16
Slide 17: Group Financial Performance
1 Group Financial Performance A$m FY25 FY24 Change • Underlying EBIT up 198% to $174.9 million driven by improvements in metal margin, SA Recycling uplift, Sales Revenue 7,494.0 7,195.4 4.1% SLS growth and cost reductions across the Group Total Underlying Costs 2 (1,265.6) (1,209.3) 4.7% • FY24 stat
Slide 18: Underlying EBIT FY25 vs FY24
1 Underlying EBIT FY25 vs FY24 A$m 14.9 4.9 174.9 17.8 16.7 92.7 (7.5) (23.3) 58.7 FY24 NAM SA ANZ Metal Global Sims Central Renewable FY25 Recycling Trading Lifecycle Costs Resources Operations Services 1 Underlying EBIT excludes significant items and internal recharges 18
Slide 19: Total Metal
Total Metal NAM ANZ SAR GTO A$m FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 Sales Revenue 4,503.6 4,479.8 1,575.5 1,595.1 5,232.4 4,768.6 987.2 770.8 Trading Margin 942.8 784.3 375.5 410.3 1,565.6 1,436.8 Net Operating Costs (688.5) (632.5) (241.3) (264.6) (1,106.3) (1,039.7) 1 Underlying EBITDA 254.3 1
Slide 20: Solid Execution Offset Pressures
Metals Solid Execution Offset Pressures 1 2 NAM EBIT (A$m) Average Temperatures 20 7.8 11.6 11.0 7.3 Celsius °c 0 -1.8 -0.5 -5.7 -4.8 2.0 -20 New York Chicago Atlanta 1H25 Jan-Feb FY25 Mar-Jun FY25 Jan-Feb FY24 Average Jan-Feb FY25 Average • Severe winter temperatures significantly disrupted Northea
Slide 21: Sims Lifecycle Services
Sims Lifecycle Services A$m FY25 FY24 Change • Underlying EBIT grew 84.2%, well ahead of revenue growth, reflecting strong operating leverage from higher Sales Revenue 426.6 349.7 22.0% volumes and efficient cost control 1 Underlying EBITDA 45.9 30.4 51.0% • Margin expansion and shift towards higher
Slide 22: Central Costs
Central Costs A$m FY25 FY24 Change • Operational functions remained flat as cost savings offset inflationary increases Operational Functions (49.7) (49.3) 0.8% • Projects costs Increased by 21.1% driven by higher Project Costs (14.9) (12.3) 21.1% IT expenditure from new yard-based operations Corpora
Slide 23: Group Cost Bridge
1 Group Cost Bridge A$m 24 29 1521 22 11 1492 7 (35) 15 29 1475 11 (27) 1441 (6) F Y2 4 al F X atio n cra p F Y2 4 me ses ion gs gs ion em es es F Y2 5 i o n i f i c e S ed Vo lu c rea Inflat Savin Sa vin r ti sat syst e ntiv entiv t s r s r In r ard Inc c nsla las mo ba ou ex ou pe x mo e In Tra re
Slide 24: Cost Reduction Program
Cost Reduction Program Annualised Cost Savings (A$m) $10 - $15m Target for FY26 & beyond Benefit from Group shared services and other general cost savings $23m Implemented in 2H25 (planned $20-25m) Total $100m implemented since inception 1 $13m vs original range of $70-$90m Implemented in 1H25 $64m
Slide 25: Capital Expenditure
Capital Expenditure 300 • FY25 Spend below D&A, following two years of higher capex increasing D&A. Property leases amortisation reclassified in FY25 1 200 • Sustaining capex of $183.0 million : focus on plant and facility maintenance, safety, and compliance. Key NAM projects include railcars, Clare
Slide 26: Balance Sheet
Balance Sheet A$m FY25 FY24 • Net assets of $2.6 billion Working capital 478.7 341.2 • Unfavourable Working capital movement Property, plant & equipment 1,445.4 1,399.5 principally timing related: Intangible assets 266.6 301.3 ▪ Increased domestic sales Investments in joint ventures 657.5 584.9 Prin
Slide 27: Net Debt Movement
Net Debt Movement Key Operating Cash movements A$m Adjusted Underlying 1 EBITDA 190 Trade receivables (154) Inventories 54 Trade Payables (73) Interest and taxes (47) Other (20) (101) (50) (97) (13) (44) (20) (7) (332) Net Debt 31 Dec Operating Capex - Capex - Growth Leases Dividend Other Net Debt 3
Slide 28: Outlook
Outlook Stephen Mikkelsen, Group CEO & Managing Director 28
Slide 29: Outlook
Outlook • Long-term fundamentals remain strong: EAF capacity and scrap demand continue to grow, underpinned by decarbonisation, government policies supporting onshoring, and general market support. Accelerating AI adoption is creating sustained demand for non-ferrous materials and repurposed units.
Slide 30: Questions & Answers
Oe .) ” c 2 jee ” Oo > ©} Answers
Slide 31: Appendix
Lal Oy VN Nol Appendix Dy .
Slide 32: Product Segment Volumes
Product Segment Volumes Intake volumes (‘000 tonnes) FY25 FY24 Change Intake volumes (‘000 tonnes) FY25 FY24 Change North America Metal 4,678 4,999 (6.4)% Ferrous Trading¹ 5,682 6,066 (6.3)% ANZ Metal 1,429 1,497 (4.5)% Non-Ferrous Trading 425 430 (1.2)% Total Proprietary Volumes 6,107 6,496 (6.0)%
Slide 33: Product Segment Revenues
Product Segment Revenues Average Sims Metal Sales Price FY25 FY24 Change Ferrous 564.75 595.54 (5.2)% Non-Ferrous Shredder Recovery 2,964.62 2,947.91 0.6% Non-Ferrous Retail 4,513.83 4,372.09 3.2% Total Average Sims Metal Sales Price 938.27 898.04 4.5 % Sims Metal Sales Revenue ($m) FY25 FY24 Change
Slide 34: FY25 Metal Volumes
FY25 Metal Volumes 1 2 1 Source Destination Composition FY25 FY24 FY25 FY24 FY25 FY24 NAM SAR ANZ 1 Ferrous Intake Volumes 2 Ferrous Sales Volumes 34
Slide 35: Price Trends: Metal
1 Price Trends: Metal 2 3 1. Ferrous 2.HMS Asian Export Price 500 450 FY24 Average USD/mt FY25 Average USD/mt 400 FY24 Average FY25 Average 300 300 150 Jul-23 Jan-24 Jul-24 Jan-25 Jul-23 Jan-24 Jul-24 Jan-25 4 5 3. Non-Ferrous 4. Copper & Aluminium 2100 12000 4800 Aluminium Price USD/mt FY25 Average
Slide 36: Group Profit & Loss
1 Group Profit & Loss A$m FY21 FY22 FY23 FY24 FY25 Change Sales revenue 5,916.3 9,264.4 8,061.1 7,195.4 7,494.0 4.1% Statutory EBITDA 507.3 976.4 515.7 361.7 323.7 (10.5)% Underlying EBITDA² 579.8 958.9 474.9 290.3 430.0 48.1% Statutory EBIT 314.0 773.6 293.0 130.1 68.6 (47.3)% Underlying EBIT² 386.
Slide 37: North America Metal
North America Metal A$m FY21 FY22 FY23 FY24 FY25 Change Sales Revenue 2,669.9 4,453.4 3,924.6 4,479.8 4,503.6 0.5% Trading Margin ($) 591.7 919.9 748.9 784.3 942.8 20.2% Trading Margin (%) 22.2 % 20.7 % 19.1 % 17.5 % 20.9 % 3.4 ppts Underlying EBITDA¹ 226.4 395.5 179.6 151.8 254.3 67.5% Depreciation
Slide 38: Investment in SA Recycling
Investment in SA Recycling A$m FY21 FY22 FY23 FY24 FY25 Change Statutory EBITDA 402.6 733.0 487.1 397.1 459.3 15.7 % Underlying EBITDA 402.6 733.0 487.1 397.1 459.3 15.7 % Statutory EBIT 328.0 620.2 332.7 218.1 259.5 19.0 % Underlying EBIT 328.0 620.2 332.7 218.1 259.5 19.0 % Statutory EBITDA - Sims
Slide 39: Australia & New Zealand Metal
Australia & New Zealand Metal A$m FY21 FY22 FY23 FY24 FY25 Change Sales Revenue 1,098.9 1,694.4 1,563.7 1,595.1 1,575.5 (1.2%) Trading Margin ($) 337.5 455.2 420.2 410.3 375.5 (8.5%) Trading Margin (%) 30.7% 26.9% 26.9% 25.7% 23.8% (1.9)ppts Underlying EBITDA¹ 156.6 240.2 196.4 145.7 134.2 (7.9%) De
Slide 40: Global Trading
Global Trading A$m FY21 FY22 FY23 FY24 FY25 Change Sales Revenue 745.8 1,128.5 824.0 770.8 987.2 28.1% Underlying EBITDA¹ (16.4) (19.2) (23.1) (19.0) (2.4) (87.4%) Depreciation 1.0 1.1 1.2 1.2 1.1 (8.3%) Amortisation — — — — — —% Underlying EBIT¹ (17.4) (20.3) (24.3) (20.2) (3.5) (82.7%) Assets 70.8
Slide 41: Sims Lifecycle Services
Sims Lifecycle Services A$m FY21 FY22 FY23 FY24 FY25 Change Sales Revenue 318.9 327.0 325.4 349.7 426.6 22.0% Underlying EBITDA¹ 31.1 25.9 18.8 30.4 45.9 51.0% Depreciation 9.3 9.6 9.7 10.5 11.7 11.4% Amortisation — — 0.9 2.2 1.6 (27.3%) Underlying EBIT¹ 21.8 16.3 8.2 17.7 32.6 84.2% Assets 145.8 17
Slide 42: Corporate & Other
Corporate & Other A$m FY21 FY22 FY23 FY24 FY25 Change Sales Revenue 89.5 66.2 — — 1.1 —% Underlying EBITDA¹ (46.9) (77.6) (97.0) (120.8) (122.0) (1.0%) Depreciation 15.0 10.9 3.1 3.1 2.1 (32.3%) Amortisation - - - - 2.4 0.0 % Underlying EBIT¹ (61.9) (88.5) (100.1) (123.9) (126.5) (2.1%) Assets 541.6
Slide 43: Constant Currency Summary
Constant Currency Summary A$m FY24 FY25 FY25 Change Actual Actual Constant Currency NAM Sales revenue 4,479.8 4,503.6 4,449.6 (0.7%) Trading Margin 784.3 942.8 931.5 18.8% Net Operating Costs (632.5) (688.5) (678.0) 7.2% Underlying EBIT¹ (12.6) 80.1 81.4 746.0 % SA Recycling Sales revenue 4,768.6 5,
Slide 44: Financial Summary – Group
1 Financial Summary – Group A$m FY21 FY22 FY23 FY24 FY25 Group Results Sales Revenue 5,916.3 9,264.4 8,061.1 7,195.4 7,494.0 Underlying EBITDA² 579.9 958.9 474.9 290.3 430.0 Underlying EBIT² 386.6 756.1 252.2 58.7 174.9 Underlying NPAT 284.1 578.9 156.9 (23.4) 83.1 Underlying EPS (cents per share) 1
Slide 45: Financial Summary – Segment
Financial Summary – Segment A$m FY21 FY22 FY23 FY24 FY25 Sales Revenue North America Metal 2,669.9 4,453.4 3,924.6 4,479.8 4,503.6 ANZ Metal 1,098.9 1,694.4 1,563.7 1,595.1 1,575.5 UK Metal 993.3 1,594.9 1,423.4 — — Sims Lifecycle Services 318.9 327.0 325.4 349.7 426.6 Global Trading 745.8 1,128.5 8
Slide 46: Financial Summary – Segment (cont.)
Financial Summary – Segment (cont.) A$m FY21 FY22 FY23 FY24 FY25 1 Proprietary sales tonnes (‘000) North America Metal 4,318 5,081 5,063 5,000 4,751 ANZ Metal 1,537 1,532 1,510 1,593 1,590 UK Metal 1,370 1,493 1,399 1,288 421 Total 7,225 8,106 7,972 7,881 6,762 2 Underlying EBIT North America Metal
Slide 47: Financial Summary – Product
Financial Summary – Product A$m FY21 FY22 FY23 FY24 FY25 Sales tonnes (‘000)¹ 2 Ferrous Trading 6,870 7,664 7,551 6,180 5,878 Non-Ferrous 355 442 454 413 463 Brokerage 1,368 1,601 1,427 1,322 1,261 Total 8,593 9,707 9,432 7,915 7,602 3 Sales Revenue Ferrous Metal 4,292.2 6,896.6 5,842.9 4,882.2 4,48
Slide 48: Significant Items
Significant Items FY25 Pre- FY25 After- FY24 Pre- FY24 After- A$m FY25 A$m Tax Total Tax Total Tax Total Tax Total Statutory NPAT 2.4 Reported earnings 68.6 2.4 130.1 1.8 Significant items Significant Items 66.4 Gain on business transactions (net of transaction Non-qualified hedges 14.3 (1.7) (2.5)
Slide 49: Capital Management Framework
Capital Management Framework OBJECTIVE Success Measures Context: Strategy • Must remain dynamically ROIC/EPS responsive to the cycle ST Y G • Inherent market volatility: RA TE TE RA G • Conservative and ST Y Dividends flexible (25-35% Payout) Capital Operating • Balance sheet strength Allocation Val