Mineral Resources Limited · ASX:MIN
Mineral Resources — Investor Presentation (June 2026)
33 slides from Mineral Resources's investor presentation, Jun 22, 2026
Slide 1: Chair Update presentation
22 June 2026 Chair Update presentation Mineral Resources Limited (ASX: MIN) (MinRes or company) releases the Chair Update presentation, which will be used by Independent Non-Executive Chair Malcolm Bundey in meetings with proxy advisers and investors this week. ENDS This announcement dated 22 June 2
Slide 2: Chair Update
For personal use only CHAIR UPDATE Malcolm Bundey Independent Non-Executive Chair June 2026 ASXMIN
Slide 3: Disclaimer and Important Notices
DISCLAIMER AND IMPORTANT NOTICES For personal use only This presentation should not be considered as an offer or invitation to subscribe for or purchase any Forward looking statements securities in Mineral Resources Limited and its subsidiaries (“MinRes” or “Company”) or as an This presentation cont
Slide 4: Contents
CONTENTS For personal use only Focus areas progress 4 FY27 Executive KMP remuneration 18 changes Sustainability 25 CHAIR UPDATE | 3
Slide 5: Progress: Focus Areas
For personal use only PROGRESS FOCUS AREAS
Slide 6: 12-Month Progress in Focus Areas
12-MONTH PROGRESS IN FOCUS AREAS For personal use only Significant progress over the past year in strengthening the business to create sustainable value for shareholders 1 2 ROBUST GOVERNANCE 2 FULL DELIVERY OF ONSLOW IRON 3 2 STRONGER BALANCE SHEET Nameplate capacity achieved in Expect to be less t
Slide 7: Robust Governance: MinRes Board
1 ROBUST GOVERNANCE MINRES BOARD Substantial board and governance renewal over the past 12 months For personal use only Five new directors appointed • Chair appointed May 2025 • Four new Independent Non- Executive Directors appointed, bringing diverse expertise and experience New Malcolm Bundey Chri
Slide 8: Robust Governance: Executive Leadership Team
1 ROBUST GOVERNANCE EXECUTIVE LEADERSHIP TEAM For personal use only An experienced team with deep tenure. KMP expanded to include all divisional Chief Executives. KMP KMP KMP as of 1 July 2025 KMP KMP as of 1 July 2025 KMP as of 1 July 2025 Chris Ellison Mark Wilson Darren Killeen Mike Grey Josh Thu
Slide 9: Corporate Governance Framework
1 ROBUST GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK For personal use only A stronger board and refreshed governance model driving accountability across the business MINRES SHAREHOLDERS NON-EXECUTIVE MINRES BOARD DIRECTORS AUDIT & RISK ETHICS & NOMINATION PEOPLE & SAFETY & TECHNICAL MANAGING GOVERNANC
Slide 10: Leadership Succession Approach
1 ROBUST GOVERNANCE LEADERSHIP SUCCESSION APPROACH For personal use only A co-ordinated and professional process, not an event, in the best interests of the company and shareholders • At the 2025 AGM, the Chair outlined a three-stage process to accommodate leadership succession in a founder-led busi
Slide 11: Leadership Succession Progress Update
1 ROBUST GOVERNANCE LEADERSHIP SUCCESSION PROGRESS UPDATE For personal use only Significant progress made on the three-stage leadership succession process announced November 2025 STAGE 1 ORGANISATIONAL DESIGN & OPERATING MODEL REVIEW • Review completed – existing Mining Services model reaffirmed wit
Slide 12: Leadership Succession Progress Update: COO appointed
1 ROBUST GOVERNANCE LEADERSHIP SUCCESSION PROGRESS UPDATE For personal use only Chief Operating Officer appointed in May 2026 STAGE 3 CEO SUCCESSION & TRANSITION • Korn Ferry Global Leadership Assessment completed for leaders, to identify internal talent and successor candidates. Detailed Personal D
Slide 13: Mallesons Governance Review
1 ROBUST GOVERNANCE MALLESONS GOVERNANCE REVIEW For personal use only Mallesons (formerly KWM) governance review complete with implementation of recommendations well advanced POSITIVES IDENTIFIED RECOMMENDATIONS ACTIONED – 80% COMPLETE • Twenty-two corporate policies and procedures reviewed and upda
Slide 14: Related Party Transactions
1 ROBUST GOVERNANCE RELATED PARTY TRANSACTIONS For personal use only Increased transparency with most transactions now ended ITEM STATUS Lease rentals Ended in March 2025 Recoupment of costs incurred Ended in May 2025 Purchase of catering supplies Ended in October 2025 MinRes ceased funding RDG and
Slide 15: People and Culture
1 ROBUST GOVERNANCE PEOPLE AND CULTURE For personal use only Strong employee engagement and active investment in leadership culture LEADERSHIP CULTURE ASSESSMENT MINRES OVERALL 2026 YOUR VOICE SURVEY RESULTS Phase 1: Leadership Assessment by EB&Co with senior MinRes leaders commenced in November 202
Slide 16: Onslow Iron Ramp-Up
2 DELIVERY OF ONSLOW IRON ONSLOW IRON RAMP-UP For personal use only Successfully achieved nameplate with no damage to key infrastructure during the recent cyclone season – now focused on increasing installed capacity towards 40Mtpa Towards 35Mtpa run $200M MSIP 40Mtpa 10Mt rate; haul contingency run
Slide 17: Capital Allocation Framework
3 STRONGER BALANCE SHEET CAPITAL ALLOCATION FRAMEWORK For personal use only A refreshed capital allocation framework disclosed at the 2025 AGM that is anchored on balance sheet strength, growth and shareholder returns PRIORITIES STRONG BALANCE SHEET DEBT REPAYMENT < 2.0x Net Debt/EBITDA through cycl
Slide 18: Capital Allocation Progress
3 STRONGER BALANCE SHEET CAPITAL ALLOCATION PROGRESS For personal use only A stronger balance sheet and lower cost of debt creating capacity to pursue high-return brownfield growth STRONG BALANCE SHEET DEBT REPAYMENTS ORGANIC GROWTH Overall potential annual finance costs savings of over Liquidity $1
Slide 19: FY27 Executive KMP Remuneration Changes
For personal use only FY27 EXECUTIVE KMP REMUNERATION CHANGES
Slide 20: FY27 Executive KMP Remuneration
FY27 EXECUTIVE KMP REMUNERATION For personal use only Following external engagement, RemCo updated future KMP remuneration to restore incentive value, align with market practice and maintain rigorous performance standards, with no increase in pay quantum TYPE CHANGE CURRENT POLICY UPDATED POLICY RAT
Slide 21: STI Payment Mix – Example
STI PAYMENT MIX – EXAMPLE For personal use only Simplifying delivery to a 50% cash / 50% equity split, consistent with ASX100 practice and increasing proportion of delivery in equity to further align executives with shareholders ILLUSTRATIVE EXAMPLE1: KMP’S MAXIMUM STI OPPORTUNITY = 120% OF BASE FAR
Slide 22: LTI Relative TSR Performance Measure
LTI RELATIVE TSR PERFORMANCE MEASURE For personal use only Introduction of rTSR performance measure for 40% of LTI opportunity (with 60% still measured by ROIC) against ASX100 Resources Index with a standard vesting schedule ALIGNING TO MARKET PRACTICE UPDATED VESTING SCHEDULE MinRes rTSR percentile
Slide 23: Market Benchmarking – Relative TSR
MARKET BENCHMARKING – RELATIVE TSR For personal use only Comparison of ASX100 Resources with rTSR as a LTI performance metric COMPANY WEIGHT PERFORMANCE PERIOD rTSR COMPARATOR GROUP 67% measured against the MSCI World Metals and Mining Index constituents. 33% BHP Group 100% Five years measured again
Slide 24: Market Benchmarking – ROIC Targets
MARKET BENCHMARKING – ROIC TARGETS For personal use only The current ROIC threshold of 12% is higher than five of the eight ASX100 peers using ROIC measures The below companies use capital return measures and vesting schedules across the ASX100, based on FY25 disclosures (unless otherwise stated). T
Slide 25: LTI ROIC Definition Approach
LTI ROIC DEFINITION APPROACH For personal use only Adjusting ROIC for timing of invested capital and returns to avoid disincentivising the pursuit of growth opportunities Unproductive Invested Capital will be excluded because good incentive design should measure what management can control and hold
Slide 26: Sustainability: Environment and Social
For personal use only SUSTAINABILITY ENVIRONMENT AND SOCIAL
Slide 27: Safety and Wellbeing
SAFETY TRIFR per million hours worked AND WELLBEING For personal use only Increase impacted by Onslow Iron construction workforce 4.0 Proactive safety management and genuine investment in the wellbeing of our people SAFETY • TRIFR at 31 March 2026 of 3.361 • Future reporting will reflect a strengthe
Slide 28: Diversity and Inclusion
3.3% ABORIGINAL PARTICIPATION Indigenous participation DIVERSITY AND INCLUSION For personal use only 4.0% 3.0% Sustained progress on diversity and inclusion 2.0% across the business 1.0% ABORIGINAL PARTICIPATION FY19 FY20 FY21 FY22 YTD 23 0.0% FY20 FY21 FY22 FY23 FY24 FY25 1H26 • 181 Aboriginal part
Slide 29: Traditional Owner Partnerships
TRADITIONAL OWNER PARTNERSHIPS For personal use only Genuine partnerships with Traditional Owners creating lasting economic and social value INVESTING IN PARTNERSHIPS $63M+ spent with Aboriginal businesses in FY26 SUPPORTING BUSINESS GROWTH 63 active Aboriginal business suppliers across MinRes opera
Slide 30: Social Impact Case Study: McGovern Foundation
SOCIAL IMPACT CASE STUDY McGovern Foundation Delivering meaningful impact through partnerships For personal use only This year marks five years of partnership between MinRes and the McGovern Foundation, with a major milestone of 1,000 people and social investment of ~$6 million annually earning thei
Slide 31: Environment
ENVIRONMENT For personal use only Active environmental stewardship across land, tailings, water and climate LAND TAILINGS WATER CLIMATE • Commissioned research • Completed external • Implemented a strategic, • ASRS Steering Committee – improving groundwater reviews and updates to long-term approach
Slide 32: Glossary
GLOSSARY For personal use only 1H, 2H, FY First half, second half, full year LTI Long-term incentive $ Australian dollar M Million US$ United States dollar MSIP Morgan Stanley Infrastructure Partners AASB Australian Accounting Standards Board Mtpa Million wet metric tonnes per annum AGM Annual Gener
Slide 33: For personal use only
For personal use only OFFICE: 20 Walters Drive Osborne Park, WA 6017 POSTAL: Locked Bag 13 Osborne Park DC, WA 6916 P +61 8 9329 3600 mineralresources.com.au
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