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Moving into the global base metals league

Resources Rising Stars 2022 Conference Presentation

Karl Simich, Managing Director & CEO

June 2022

Creating Value through Opportunity

Important Information and Disclaimer

ersonal use only

This presentation has been prepared by Sandfire Resources Ltd (Sandfire or the Company) and contains information about Sandfire current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport to be all inclusive or complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction and may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Sandfire, its related bodies corporate, and each of their officers, employees, agents and advisers expressly disclaim, to the maximum extent permitted by law, all liabilities (however caused, including negligence) in respect of, make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified.

This presentation includes unaudited financial information and should be read in conjunction with the Company's other ASX announcements available via the Company Announcements Platform (ASX Code: SFR) and Sandfire's website at www.sandfire.com.au.

This presentation is authorised for market release by Sandfire's Managing Director and CEO, Mr Karl Simich.

Key assumptions

The following assumptions apply to information in this presentation unless otherwise stated.

Currency: unless otherwise stated, all figures are in USD.

Figures, amounts, percentages, estimates, calculations of value and other factors used in this presentation are subject to the effect of rounding.

Forward-Looking Statements

This presentation may include forward-looking statements regarding Sandfire's Mineral Resources and Reserves, exploration and project development, operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. Although Sandfire believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have been correct. There is also continuing uncertainty as to the full impact of the COVID-19 pandemic on Sandfire's business, the Australian economy, share markets and the economies in which Sandfire conducts business.

Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business and operational risk management.

Except for statutory liability which cannot be excluded, each of Sandfire, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in forward-looking statements or any error or omission. Sandfire undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue reliance on any forward-looking statement.

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only

A Global Miner

poised for a new era

of growth

use

Scale

One of the largest copper-focused miners on the ASX

Future-facing

Producing copper, a critical metal for a low-carbon future

Growth

ersonal

Pivoting to new long-life mines in Spain, Botswana and USA

Exploration

Four world-class mineral provinces

Operating Mines Development Phase Study Phase Exploration

3

rsonale use only

Our Strategy

Execute

Sustain and Grow

Accelerate

Align and Empower

Optimise Capital

Delivery

Our Production

Discovery

Our People

Strategy and

Pipeline

Engagement

Our Values

Honesty

Respect

Collaboration

Accountability

Performance

4

ersonal use only

Executing Our Strategy

Execute

Sustain and Grow

Accelerate

Align and

Optimise Capital

Delivery

Our Production

Discovery

Empower

Strategy and

Pipeline

Our People

Engagement

MATSA

Establishing

Drill to extend Mineral

Unlocking our highly

Focus on global integration

Financial leverage to

Spain

production to 4.7Mtpa

Resources and Ore Reserves

prospective Iberian Pyrite

and operating excellence

drive shareholder returns

Belt holdings

and value

DeGrussa

Strong and safe

Unlocking value in gold projects

Exploring new techniques

Labour availability and

Maximising shareholder

Australia

performance

and copper oxide stockpiles

and opportunities

retention

returns at the end of mine

life

Motheo

Building a new world-

Feasibility Study for A4

Belt-scale opportunity to

Modern mining practices,

Balancing financial

Botswana

class copper mine

development to support

expand existing or build

training and skills

leverage and providing

5.2Mtpa processing capacity

additional processing

development

long-term community

capacity

benefit

Black Butte

Johnny Lee Deposit Feasibility

Shared long-term vision

Project optimisation and

USA

Study optimisation and Lowry

for Black Butte and positive

financial support, legal

Deposit Mineral Resource

contribution to local

challenge defence

drilling

communities

5

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Sandfire Resources NL published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 05:51:04 UTC.