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Investor Presentaiton

CANNINGTON ZINC-LEAD-SILVER Transition to 100% truck haulage completed, bringing forward higher-grade material Summary Transition to a 100% truck haulage operation completed in Q2 FY23 Ore processed (Mdmt) Decommissioning the underground infrastructure has reduced constraints on underground mining sequences, allowing for higher-grade material to be brought forward in the mine plan • H1 FY23 production volumes impacted by the underperformance of temporary crushers and labour availability • • . 2.75 2.62 2.40 2.40 2.20 Operation temporarily suspended due to severe flooding in Q3 FY23 Production is recovering to plan and the operation is on-track to meet revised FY23e production guidance, with plant throughput expected to increase by 9% in FY24e as we rebuild ROM stocks FY21 FY22 FY23e FY24e Medium-term guidance (a)(b) Payable production FY21 FY22 FY23e FY24e Zinc (kt) 67.7 64.5 60.5 62.0 Medium-term guidance(a)(b) ~50.0 Medium-term production guidance reflects our expectation of more complex underground mining conditions, with a greater number of stopes of varying size from FY24 Lead (kt) 131.8 120.6 102.0 115.0 ~110.0 Silver (Moz) 13.7 12.9 11.0 12.5 ~12.0 Notes: a. FY25 to FY28 average. b. Refer to important notices (slide 2) for additional disclosure. SLIDE 17 SOUTH32
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