OZ Minerals : 2021 Fourth Quarter Report Presentation

onlyuse2021 Fourth Quarter Report

Presentation

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Disclaimer

Forward Looking Statements

This presentation has been prepared by OZ Minerals and consists of written materials/slides for a presentation concerning OZ Minerals. By reviewing/attending this presentation, you agree to be bound by the following conditions.

No representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information, contained in the presentation or of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission there from, or otherwise arising in connection with it.

onlySome statements in this presentation are forward-looking statements. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as "will", "expect", "anticipate", "believe" and "envisage". By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside OZ Minerals' control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation.

Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in OZ Minerals' expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based.

Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. All figures are expressed in Australian dollars unless stated otherwise.

useThis presentation should be read in conjunction with the Quarterly Report released today.

This announcement is authorised for market release by OZ Minerals' Managing Director and CEO, Andrew Cole.

OZ Minerals Registered Office: 2 Hamra Drive, Adelaide Airport, South Australia, 5950, Australia

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Compliance Statements

Production Targets Cautionary Statement
Each of the Production Targets referred to in this presentation were initially reported in the following market announcements:
/	Carrapateena	ASX announcement headed"Carrapateena Expansion creates significant value uplift and unlockslong-lifemining province"dated 23 June 2020
/	Prominent Hill	ASX announcement headed"Green Light for Prominent Hill Wira Shaft Mine Expansion"dated 18 August 2021
/	West Musgrave	ASX announcement headed"West Musgrave value and scale uplift inPre-FeasibilityStudy Update"dated 09 December 2020
/	Carajás East	ASX announcement headed "Carajás Hub strategy gains pace"dated 28 November 2019
/	CentroGold	ASX announcement headed "Gurupi province potential strengthened on CentroGoldPre-FeasibilityStudy"dated 11 July 2019

OZ Minerals confirms that all the material assumptions underpinning each of the Production Targets cited in the initial announcement listed above continue to apply and have not materially changed. The Cu equivalent Production Targets referred to in this presentation are based on the applicable Cu and Au Production Targets referred to in the market announcements cited above.

Resource and Reserves
The Mineral Resources and Ore Reserves in this presentation is extracted from the following documents and available at www.ozminerals.com/en/investing-in-us/resources-reserves:
/	Carrapateena	Carrapateena 2020 Mineral Resources and Ore Reserves Statement and Explanatory Notes as at 30 June 2020 released on 16 November 2020
/	Prominent Hill	Prominent Hill 2021 Mineral Resources and Ore Reserves Statement and Explanatory Notes as at 30 June 2021 released on 16 November 2021
/	West Musgrave	West Musgrave Project Nebo-Babel Deposits 2020 Mineral Resource and Ore Reserve Statement and Explanatory notes as at 9 December 2020 released on 9 December 2020
/	Pedra Branca	Pedra Branca 2019 Mineral Resource Statement and Explanatory Notes as at 25 March 2019 and 2019 Ore Reserve Statement and Explanatory Notes as at 15 November 2019,
/	CentroGold	released 28 November 2019
CentroGold Project Combined 'Blanket' and 'Contact' Mineral Resource as at 06 May 2019 and Ore Reserve as at 24 June 2019 Statement and Explanatory Notes, released 11 July
only	2019
/	Santa Lucia	Santa Lucia Mineral Resource Statement and Explanatory Notes as at 1 July 2021, released 24 September 2021

OZ Minerals confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral R sources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. OZ Minerals confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

Copper Equivalent Assumptions
The copper equivalent tonnes was calculated with the following formula based on assumed recoveries for the relevant assets:
/	Carrapateena	Copper Equivalent tonnes = (Cu recovered) + ((Au recovered x Au US$/oz ) / (2204* Cu US$/lb))
/	Prominent Hill	Copper Equivalent tonnes = (mined tonnes x Cu % x Cu Rec) + (((mined tonnes x Au g/t x Au Rec)/31.1) x Au US$/oz / AUD-US Exchange) / (2204 * Cu US$/lb / AUD-US Exchange))
/	West Musgrave	Copper Equivalent tonnes = (Cu recovered) + (Ni recovered x Ni US$lb / Cu US$/lb)
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/ Assumed prices: Cu US$2.91/lb; Au US$1,438/oz; Ni US$7.60/lb, AUD/USD 0.73
/ Assumed Recoveries: Prominent Hill Cu 86.3%, Au 73.1%
OZ Minerals' opinion is that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.
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O V E R V I E W

2021 Q4 Highlights

Creating Value for all Stakeholders

only	Group 2021 production and cost guidance
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Cash balance $215 million1; $480 million
nal	undrawn debt facility

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Record FY Revenue of $2.1 billion1

2022 focus on advancing growth whilst managing escalating pandemic related challenges and inflationary pressure

1. Unaudited

O V E R V I E W

A Modern Mining Company Strategy

Purpose driven organisation creating value for stakeholders enabled by culture

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