Slide 1: Motheo: A story of success for Sandfire and Botswana
Motheo: A story of success for Sandfire and Botswana. Africa Down Under Brendan Harris, Chief Executive Officer and Managing Director 3 September 2025
Slide 2: Overview
Overview Sustainability and economic contribution The remarkable journey of Motheo Sandfire’s plans for the future Africa Down Under | 2
Slide 3: Our global footprint
Our global footprint Note a. Sandfire’s effective 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. Africa Down Under | 3
Slide 4: Building a quality asset – Motheo's successful transition to operations
Building a quality asset – Motheo’s successful transition to operations Africa Down Under | 4
Slide 5: Our people
Our people Nothing is more important than the health and wellbeing of our people, and we must believe it’s possible to have a workplace that is injury free. A safe business is a productive business • Group Total Recordable Injury Frequency (TRIF) – 1.7: • Motheo Operations 1.1 • 40:40:20 gender dive
Slide 6: Sustainability and community impact
Sustainability and community impact Sustainability must permeate everything we do and every decision we make. Sustainability is not an individual pillar of our Strategy as it underpins every decision we make and everything we do. • Our goal is to achieve a net gain in biodiversity at Motheo • Our ev
Slide 7: Major contributor to the economy of Botswana
Major contributor to the economy of Botswana Sandfire’s contribution We contribute to Botswana’s economy by paying taxes and royalties, US$314M +US$2.8B and through local procurement, employment and community programs. (BWP 4.3B) (BWP 38.2B) FY25 economic contribution Estimated economic contribution
Slide 8: +US$600M investment in Botswana since 2021
+US$600M (+BWP 8.4B) investment in Botswana since 2021 Key areas of investment Investment in Botswana - January 2021 to June 2025 (US$M) 80 700 • Construction and mine development capital: 70 600 • 3.2Mtpa processing plant 60 • T3 open pit mine 500 development 50 • 5.2Mtpa expansion 400 US$M US$M 40
Slide 9: Life of Mine (LOM) estimated economic contribution
Life of Mine (LOM) estimated economic contribution Over the initial ~10-year mine life Estimated LOM – total economic contribution Estimated LOM – local supplier, wages and government economic contributions (US$M) 100% 80% 60% 40% 20% 0% Payments to Contractors and Suppliers* Payments for Mine Prope
Slide 10: Significant investment in targeted exploration
Significant investment in targeted exploration Kalahari Copper Belt Our land holding and continued investment in exploration is critical as we work to extend the life of the Motheo processing complex. Redefining the potential of the Kalahari Copper Belt • $113M invested in exploration since our entr
Slide 11: Botswana's copper industry in a global context
Botswana’s copper industry in a global context Reserves (contained kt and grade %) and copper production (kt). Cu grade Bubble size (area) represents (%) 2024 Cu production (kt) 5.00% 4.50% 4.00% Kamoa-Kakula 3.50% Cobar - CSA 3.00% Tenke Fungurume 2.50% Antamina Khoemacau (Boseto) Las Bambas 2.00%
Slide 12: Motheo is a proven, multi-mine copper processing complex creating shared value
Motheo is a proven, multi-mine copper processing complex that is creating shared value for Sandfire and Botswana.