Sandfire Resources : December 2021 Half Year Results Presentation

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December 2021

Half Year Report Presentation

28 February 2022

Access the live webcast of this presentation commencing at 11.00am (AWST) / 2.00pm (AEDT) at the link below:

SANDFIRE WEBCAST

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Important Information and Disclaimer

This presentation has been prepared by Sandfire Resources Ltd (Sandfire or the Company) and contains information about Sandfire	This presentation should be read in conjunction with Sandfire's Half-Year Financial Report for the six months ended 31 December 2021
current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport to	and accompanying notes, released today, 28 February 2022.
be all inclusive or complete. The Company is not responsible for providing updated information and assumes no responsibility to do so.

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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 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. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Sandfire. Actual values, results or events may be materially different to those expressed or implied in this presentation. There is also continuing uncertainty as to the full impact of COVID-19 on Sandfire's business, the Australian economy, share markets and the economies in which Sandfire conducts business. Given the high degree of uncertainty surrounding the extent and duration of the COVID-19 pandemic, it is not currently possible to assess the full impact of COVID-19 on Sandfire's business or the price of Sandfire securities. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Sandfire does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward-looking statement is based.

Creating Value through Opportunity	2

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Where we operate

Creating Value through Opportunity	Operating Mines	Development Phase	Study Phase	Exploration	3

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Our Strategy

Execute	Sustain and Grow
Delivery	Our Production
Pipeline

Our Values

HonestyRespect

Creating Value through Opportunity

Accelerate	Align and Empower	Optimise Capital
Discovery	Our People	Strategy and
		Engagement

Collaboration

Accountability

Performance

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HY2022

Headline Financial Results

US$311.8M		US$161.6M		US$88.4M		US$55.2M		US$193.1M
Record sales		Group		Profit before		Net profit after		Cash flow from
revenue		EBITDA		net finance		tax attributable		operating
				and income		to equity holders		activities
				tax expense				(prior to exploration,
				(US$76.4M				evaluation and tax)
				D&A)

Creating Value through Opportunity

US$321.4M strong cash holding at 1 February 2022

including MATSA holdings

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