H1 FY21 Finance and Cost Analysis

OUR GROWTH OPTIONS & EXPLORATION FOOTPRINT Our pipeline of growth opportunities and greenfield exploration partnerships has a bias to base metals AMBLER METALS (50%) Copper, Zinc, Lead, Silver & Gold Copper & Gold Copper, Zinc, Lead, Silver & Gold Ambler Metals Joint Venture (50%) Arctic (copper, zinc, lead, silver, gold) PFS underway Bornite (copper) is an advanced exploration project Regional exploration prospects and VMS clusters to be tested in CY21 field season Copper & Gold Zinc, Lead, Silver & Copper HERMOSA (100%) Zinc, Lead, Silver & Manganese- Copper & Gold Development option Copper, Gold & Molybdenum Exploration partnership or option Hermosa Project (100%) Zinc, Lead & Silver Taylor (zinc, lead, silver) PFS due in Q4 FY21 Clark (zinc, lead, manganese) scoping study due in H1 FY22 Prospective landholding with identified exploration prospects Exploration partnerships Pipeline of more than 20 greenfield partnerships targeting base metal discoveries Strategy to identify, advance and cycle options Copper, Zinc, Lead, Silver & Gold. Copper & Gold Zinc Copper & Gold Copper, Lead, Silver & Zinc SLIDE 26 EIII SOUTH32

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