Slide 1: H1 FY25 Financial Results Presentation
For personal use only H1 FY25 Financial Results Presentation Access the live webcast commencing at 10.00am (AWST) / 1.00pm (AEDT) here. 20 February 2025
Slide 2: Important information and disclaimer
Important information and disclaimer This presentation has been prepared by Sandfire Resources Limited (ABN 55 105 154 185) (Sandfire or the Company) and contains Forward-Looking Statements information about Sandfire current at the date of this presentation. The presentation is in summary form, has
Slide 3: Brendan Harris, Chief Executive Officer
For personal use only Brendan Harris Chief Executive Officer H1 FY25 Financial Results Presentation | 3
Slide 4: H1 FY25 highlights
H1 FY25 highlights 1.6 We must believe that we can have TRIF Maintained from 30 June 2024 a workplace free of injury For personal use only Robust first half left us well placed 75.1kt to deliver full year guidance, CuEq production1 (up 16% from H1 FY24) monitoring heavy rainfall given the risk it pr
Slide 5: Our H1 FY25 goals and FY25 progress
Our H1 FY25 goals and FY25 progress FY25 Goals FY25 Progress • Maintained TRIF at 1.6 • Further improve safety performance • On track to deliver FY25 CuEq production guidance of 154kt should recent Deliver safe, consistent and • Increase Group CuEq production1 by 13% (MATSA +4%, Motheo +31%) heavy r
Slide 6: A safe business is a productive business
A safe business is a productive business Group TRIF of 1.6 maintained over the period Nothing is more important than the health and wellbeing of our people, and we For personal use only must believe it is possible to have a workplace that is injury free. FY25 plan H1 FY25 progress • Further improve
Slide 7: Sustainability must permeate all we do
Sustainability must permeate all we do We continue to source +70% of electricity from renewables • Decarbonisation efforts remain focused on sourcing renewable electricity For personal use only • The government investigation into the disturbance of artefact scatters at our now closed Monty Mine is c
Slide 8: Megan Jansen, Chief Financial Officer
For personal use only Megan Jansen Chief Financial Officer H1 FY25 Financial Results Presentation | 8
Slide 9: H1 FY25 financial results overview
H1 FY25 financial results overview Robust financial result underpinned by strong Key financial metrics H1 FY25 H1 FY24 HoH operating and cost performance across the business Sales revenue $M 572 418 37% MATSA Underlying operating cost2 $/t 76 72 5% For personal use only • 16% increase in CuEq produc
Slide 10: H1 FY25 Underlying Earnings analysis
H1 FY25 Underlying Earnings analysis Revenue comparison by nature 18 (1) 59 79 Depreciation & amortisation by segment $M Volume Price TCRC Freight c For personal use only 300 118 35 1 (39) MATSA Motheo Other 15 250 (7) (4) 154 H1 FY24 H2 FY24 H1 FY25 200 Underlying EBITDA 136 226 255 (153) Underlyin
Slide 11: H1 FY25 Group cash flow analysis
H1 FY25 Group cash flow analysis Construction Mine development Sustaining & strategic Exploration 4 4 $M 13 10 500 39 28 9 8 (95) MATSA Motheo Other 400 152 For personal use only (31) 300 (115) 134 (8) 200 (25) 100 183 196 - (100) (485) (288) (200) (396) (579) (300) (400) FY24 FY24 FY24 MATSA Motheo
Slide 12: An increasingly strong balance sheet with enhanced flexibility
An increasingly strong balance sheet with enhanced flexibility We continue to deleverage the balance sheet towards a net Moving towards a single corporate facility to further enhance cash position balance sheet flexibility • Net debt reduced to $288M • Received credit approval for an unsecured $650M
Slide 13: Brendan Harris, Chief Executive Officer
For personal use only Brendan Harris Chief Executive Officer H1 FY25 Financial Results Presentation | 13
Slide 14: The Sandfire Way
The Sandfire Way Our values Our purpose We mine copper sustainably to energise the future Honesty Our strategic pillars For personal use only Respect Deliver safe, consistent Reduce our Increase Demonstrate and predictable carbon intensity our reserves capital discipline performance Collaboration We
Slide 15: Our global footprint
Our global footprint For personal use only (a) Legend Note a. Sandfire’s interest in Black Butte is held via an 87% equity stake in TSX listed Sandfire Resources America Inc. (TSX-V: SFR), which owns 100% of Black Butte. H1 FY25 Financial Results Presentation | 15
Slide 16: Our strategy | Simple by design
Our strategy | Simple by design Strongly placed to support the electrification and decarbonisation of the global economy through our ownership of two strategically valuable metal processing hubs in the Iberian Pyrite and Kalahari Copper belts, and targeted development options. We will unlock signifi
Slide 17: MATSA | The premier mining complex in the Iberian Pyrite Belt
MATSA | The premier mining complex in the Iberian Pyrite Belt Continuing to build consistency and predictability in our underground H1 H1 Key metrics FY25G mines and surface processing facility FY24 FY25 • Maintained mining and processing rates of 4.6Mtpa in H1 FY25 Production • For personal use onl
Slide 18: MATSA | Increasing our reserves
Magdalena five-year drilling plan MATSA | Increasing our reserves Targeting a minimum 15 years of reserve life within five years • Multi-year program based on extensive drilling and geophysics For personal use only • Orebodies and exploration targets have been modelled in 3D • Tangible targets ranke
Slide 19: Motheo | Redefining the potential of the Kalahari
Motheo | Redefining the potential of the Kalahari Achieved average annualised processing rate of 5.6Mtpa in H1 FY25, H1 H1 Key metrics FY25G significantly exceeding design capacity FY24 FY25 • Expect to maintain this higher rate of throughput for the foreseeable future Production For personal use on
Slide 20: Motheo | Bringing forward metal production
Motheo | Bringing forward metal production We continue to optimise the mine plan to maximise value and Motheo 5.2Mtpa DFS production profile(a) reduce risk Contained • 5.6Mtpa throughput rate enables us to bring forward metal production CuEq kt Seeking to maintain For personal use only • Well placed
Slide 21: Motheo | Increasing our reserves
Motheo | Increasing our reserves A4 repetition fold planned drilling Targeting a minimum 15 years of reserve life within MO-A4-204D MO-A4-168D MO-A4-145D MO-A4-142D MO-A4-163D MO-A4-191D five years • Significant exploration drilling program planned for FY25: For personal use only • ~6km to test the
Slide 22: Black Butte | Extending the Lower Copper Zone
Black Butte | Extending the Lower Copper Zone Johnny Lee Lower Copper Zone plan view Preparing to tollgate into the next study phase • A 20km diamond drilling program is currently underway, For personal use only with ~14km drilled to date • Designed to test extensions of the higher-grade Johnny Lee
Slide 23: Updated Group FY25 guidance
Updated Group FY25 guidance Corporate FY25 guidance (YTD % of FY25 revised guidance) MATSA Motheo Groupa & Other Production Ore processed (Mt) 4.6 (50%) 5.6 (50%) 10.2 (50%) Copper (kt contained) 56 (49%) 53 (48%) 109 (48%) Zinc (kt contained) 92 (49%) - 92 (49%) For personal use only Lead (kt conta
Slide 24: Appendix I: Exploration Results, Mineral Resources and Ore Reserves
Appendix I SFR Exploration Results, Mineral Resources and Ore Reserves estimates The information in this presentation that relates to SFR’s Exploration Results, Mineral Resources or Ore Reserves is extracted from SFR’s ASX releases and is available at https://www.sandfire.com.au/where-we-operate/min
Slide 25: Contact Details
For personal use only Contact Details +61 8 6430 3800 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