Scanned Document

Form 603

Corporations Law

Section 671B

Notice of initial substantial holder

To: Company Name/Scheme SIMS METAL MANAGEMENT LIMITED

ACN/ARSN 114 838 630

  1. Details of substantial holder (1)

    Name: UBS Group AG and i ts related bodies corporate

    ACN/ARSN (if applicable)

    The holder became a substantial holder on: 25 May 2016

  2. Details of voting power

    The total number of votes attached to all the voling shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

    Class of securities (4)

    Number of securities

    Persons' votes (5)

    Voting power (6)

    Ordinary

    11,453, 118

    11,453,118

    5.78%

  3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest

Nature of relevant interest (7)

Class and number of

securities

UBS AG

Fund Manager with power to exercise control over voting shares

58,818

Ordinary

UBS Asset Management (Americas) Inc

Fund Manager with power to exercise control over voting shares

4.580.000

Ordinary

UBS Asset Management (Deutschland) GmbH

Fund Manager with power to exercise control over voling shares

5.119 Ordinary

UBS Asset Management Life Limited

Fund Manager with power to exercise control over voling shares

28,902

Ordinary

UBS Asset Management (Singapore) Ltd

Fund Manager with power to exercise control over voting shares

4,475

Ordinary

UBS Asset Management Trust Company

Fund Manager with power to exercise control over voting shares

5,231

Ordinary

UBS Asset Management (UK) Limited

Fund Manager with power to exercise control over voling shares

11.063

Ordinary

UBS Fund Management (Luxembourg) SA

Fund Manager with power to exercise control over voting shares

208,107

Ordinary

UBS Fund Management (Switzerland) AG

Fund Manager with power to exercise control over voting shares

27, 164

Ordinary

UBS AG London Branch

Power to control disposal over shares pursuant to stock borrowing and lending activities (see Appendix A)

50,497

Ordinary

UBS Securities Australia Ltd

Power to control disposal over shares pursuant to stock borrowing and lending activities (see Appendix A)

4,017,963 Ordinary

Beneficial Owner

1,317,296 Ordinary

Beneficial Owner

702,800

Options

UBS Switzerland AG

Broker with power to exercise discretion over account

5,098

Ordinary

UBS AG Australia Branch

Prime Broker that has exercised its borrowing right in respect of shares pursuant to a Prime Broking Agreement (see Appendix A)

430,585 Ordinary

  1. Details of present registered holders

    The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

    Holder of relevant interest

    Registered holder of securities

    Person entitled to be registered as holder (8)

    Class and number securities

    of

    UBS AG

    Various Custodians

    UBS AG

    58,818

    Ordinary

    UBS Asset Management (Americas) Inc

    Various Custodians

    UBS Asset Management (Americas) Inc

    4,580,000

    Ordinary

    UBS Asset Management (Deutschland) GmbH

    Various Custodians

    UBS Asset Management (Deutschland) GmbH

    5,119

    Ordinary

    UBS Asset Management Life

    Various Custodians

    UBS Asset Management Life

    28,902

    Ordinary

    Limited

    Limited

    UBS Asset Management

    Various Custodians

    UBS Asset Management

    4,475

    Ordinary

    (Singapore) Lid

    (Singapore) Ltd

    UBS Asset Management Trust

    Various Custodians

    UBS Asset Management

    5,231

    Ordinary

    Company

    Trust Company

    UBS Asset Management (UK) Limited

    Various Custodians

    UBS Asset Management (UK) Limited

    11,063

    Ordinary

    UBS Fund Management

    Various Custodians

    UBS Fund Management

    208,107

    Ordinary

    (Luxembourg) SA

    (Luxembourg) SA

    UBS Fund Management

    Various Custodians

    UBS Fund Management

    27, 164

    Ordinary

    (Switzeand) AG

    (Switzerland) AG

    UBS AG London Branch

    Various Custodians

    UBS AG London Branch

    50,497

    Ordinary

    UBS Securities Australia Ltd

    Warbont Nominees Ply Ltd

    UBS Securities Australia Ltd

    4,017,963

    Ordinary

    Brispot Nominees Ply Ltd

    UBS Securities Australia Ltd

    1,317,296

    Ordinary

    N/A

    UBS Securities Australia Lid

    702,800

    Options

    UBS Switzerland AG

    Various Custodians

    UBS Switzerland AG

    5,098

    Ordinary

    UBS AG Australia Branch

    UBS Nominees Ply Ltd

    UBS AG Australia Branch

    430,585

    Ordinary

  2. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest

Date of acquisition

Consideration (9)

Class and number of securities

Cash lNon-cash

Please see Appendix B.

  1. Associates

    The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

    Name and ACN/ ARSN (if applicable)

    Nature of association

    UBS AG

    Related body corporate

    UBS Asset Management (Americas) Inc

    Related body corporate

    UBS Asset Management (Deutschland) GmbH

    Related body corporate

    UBS Asset Management Life Limited

    Related body corporate

    UBS Asset Management (Singapore) Ltd

    Related body corporate

    UBS Asset Management Trust Company

    Related body corporate

    UBS Asset Management (UK) Limited

    Related body corporate

    UBS Fund Management (Luxembourg) SA

    Related body corporate

    UBS Fund Management (Switzerland) AG

    Related body corporate

    UBS AG London Branch

    Related body corporate

    UBS Securities Australia Ltd

    Related body corporate

    Warbont Nominees Ply Ltd

    Related body corporate

    Brispot Nominees Ply Ltd

    Related body corporate

    UBS Switzerland AG

    Related body corporate

    UBS AG Australia Branch

    Related body corporate

    UBS Nominees Ply Ltd

    Related body corporate

  2. Addresses

The addresses of persons named in this form are as follows:

Name

Addresses

Details of all UBS offices can be found through the following link: http://apps2.ubs.com/locationfinder/

SIGNATURE

Print Name:

Pe e Chan Ca acit :

Sign Here: Date: 27 May 2016

Print Name: Weixiao Qin Capacity: Authorised signatory Sign Here: Date: 27 May 2016

Contact details for this notice: Weixiao Qin

Compliance Operations

(T) +65 6495 8217

Type of agreement

Securities Lending Agreement

Securities Lending Agreement

Prime Brokerage Agreement

Parties to agreement

  1. UBS AG, London Branch ("UBS AG ")/ UBS Limited

  2. Client (Please refer to Appendix

A-1.)

  1. UBS AG, Australia Branch ("UBS AG")/ UBS Securities Australia Limited

  2. Client (Please refer to Appendix A-1.)

  1. UBS AG, Australia Branch ("UBS AG")

  2. Client (Please refer to Appendix

A-1.)

Transfer date

Please refer to Appendix A-1.

Please refer to Appendix A-1.

Please refer to Appendix A-1.

Holder of voting rights

UBS AG/ UBS Limited

UBS AG/ UBS Securities Australia Limited

UBS AG

Are there any restrictions on voting rights?

Please refer to the details below.

Please refer to the details below.

Please refer to the details below.

If yes, detail

Since all right and title in the securities passes to the transferee (i.e. UBS AG/ UBS Limited), the transferee has the right to vote.

However, in certain circumstances, the transferee may seek to arrange for instructions to be exercised in accordance with the instructions of the transferor (i.e. Client).

Since all right and title in the securities passes to the transferee (i.e. UBS AG/ UBS Securities Australia Limited), the transferee has the right to vote. However, in certain circumstances, the transferee may seek to arrange for instructions to be exercised in accordance with the instructions of the transferor (i.e. Client).

Since all right and title in the securities passes to the transferee (i.e. UBS AG), the transferee has the right to vote. However, in certain circumstances, the transferee may seek to arrange for instructions to

be exercised in accordance with the instructions of the transferor (i.e.

Client).

Scheduled return date (if any)

None.

None, subject to the terms of the relevant loan.

None, subject to the terms of the relevant Joan.

Does the borrower have the right to return early?

Yes.

Yes.

Yes.

If yes, detail

The borrower (i.e. UBS AG/ UBS Limited) has the right to return at its discretion subject to the terms of the relevant loan.

The borrower (i.e. UBS AG/ UBS Securities Australia Limited) has the right to return at its discretion.

The borrower (i.e. UBS AG) has the

right to return at its discretion.

Does the lender have the right to recall early?

Yes.

Yes.

Yes.

If yes, detail

The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.

The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.

The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.

Will the securities be returned on settlement?

Yes.

Yes.

Yes.

If yes, detail any exceptions

None.

None.

None.

The information in this appendix is based on the relevant standard UBS agreement.

A copy of the agreement is available to the company, or responsible entity to whom the prescribed form must be given, or to ASIC, upon request.

Sims Metal Management Limited published this content on 30 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 May 2016 23:05:14 UTC.

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