OZ Minerals: Presentation of the Macquarie Western Australia 2021 Forum

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Disclaimer

Forward-looking statements

This presentation has been prepared by OZ Minerals and consists of written material / slides for a presentation regarding 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 the views, opinions and conclusions contained herein. To the fullest extent permitted by law, OZ Minerals and its companies and affiliates, as well as its respective directors, officers, employees, agents and advisers, disclaim any and all liability (including, without limitation, any liability resulting from any fault or misconduct). ‘negligence) for any loss or damage resulting from any use of this material or its contents, including any error or omission thereof, or resulting in any other way in connection therewith.

Certain statements contained in this presentation are forward-looking statements. These statements include, but are not limited to, statements regarding capacity, future production and grades, sales growth projections, estimated revenues and reserves, cost reduction targets, cost of construction of new projects. , the projected capital expenditures, the timing of new projects, future cash flows and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the business environment and can be (but not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “consider”. By their nature, forward-looking statements involve risks and uncertainties as they relate to events and depend on circumstances that will occur in the future and may be beyond the control of OZ Minerals. Actual results and developments may differ materially from those expressed or implied in such statements due to a number of factors, including levels of demand and market prices, the ability to produce and transport products from profitably, the impact of exchange rates on market prices and operating costs, operational issues, political uncertainty and economic conditions in affected regions of the world, actions of competitors, activities of authorities government such as tax or regulatory changes.

In view of these risks and uncertainties, one should not place undue reliance on forward-looking statements which speak only as of the date of presentation. Subject to any continuing obligation under applicable law or any relevant stock quotation rule, OZ Minerals undertakes no obligation to issue any updates or revisions to any forward-looking statements contained in this presentation, whether following a change in OZ Minerals. ‘expectations of them, or any change in the events, conditions or circumstances upon which such statement is based.

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

This presentation should be read in conjunction with the quarterly report published on October 20, 2021.

This announcement is authorized for sale by OZ Minerals Managing Director and CEO Andrew Cole.

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

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Declaration of conformity

Cautionary Statement on Production Goals

Each of the production targets mentioned in this presentation were initially reported in the following market announcements:

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

Resources and reserves

The mineral resources and ore reserves in this presentation are taken from the following documents and available at www.ozminerals.com/operations/resources-reserves:

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Carrapateena

Carrapateena 2020 Mineral Resources and Ore Reserves Statement and Explanatory Notes as of June 30, 2020 published on November 16, 2020

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Prominent hill

Prominent Hill 2021 Mineral Resources and Ore Reserves Statement and Explanatory Notes as of June 30, 2021 issued on November 16, 2021

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Musgrave West

West Musgrave Project Nebo-Babel Deposits Declaration of Mineral Resources and Ore Reserves 2020 and Explanatory Notes as of December 9, 2020 published on December 9, 2020

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Pedra branca

Declaration of Mineral Resources and Explanatory Notes of Pedra Branca 2019 as of March 25, 2019 and Declaration of Ore Reserves and Explanatory Notes 2019 as of November 15, 2019,

released on November 28, 2019

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CentroGold

The combined “Blanket” and “Contact” mineral resources of the CentroGold project as of May 06, 2019 and ore reserves as of June 24, 2019 Declaration and explanatory notes, published on July 11

2019

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St. LUCIA

Santa Lucia Mineral Resource Statement and Explanatory Notes as of July 1, 2021, published September 24, 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 mineral resource estimates, that all material assumptions and technical parameters under – Estimates in the relevant market the announcement continue to apply and have not changed materially. OZ Minerals confirms that the form and context in which the competent person’s findings are presented have not changed significantly from the initial market announcement.

Assumptions equivalent to copper

The tonnes of copper equivalent were calculated using the following formula on the basis of the presumed recoveries for the assets concerned:

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Carrapateena

Tons of copper equivalent = (Cu recovered) + ((Au recovered x Au US $ / oz) / (2204 * Cu US $ / lb))

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Prominent hill

Tons of copper equivalent = (tonnes mined x Cu% x Cu Rec) + (((tonnes mined x Au g / tx Au Rec) / 31.1) x Au US $ / oz / AUD-US Exchange) / (2204 * Cu US $ / lb / AUD-US Exchange))

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Musgrave West

Tons of copper equivalent = (Recovered Cu) + (Recovered Ni x Ni US $ lb / Cu US $ / lb)

  • Assumed prices: USD 2.91 cu / lb; At USD 1,246 / oz; Ni US $ 7.60 / lb, AUD / USD 0.67
  • Assumed recoveries: Prominent Hill Cu 86.3%, Au 73.1%

It is OZ Minerals’ opinion that all of the items included in the calculation of metal equivalents have a reasonable potential to be salvaged and sold.

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