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Investor Presentaiton

PFS PRODUCTION PROFILE Preferred PFS development scenario to target throughput of up to 4.3Mtpa(a) PFS production schedule has first ore expected in FY27 and a single stage ramp up to nameplate in FY30 Payable ZnEq production and ZnEq head grade5 ktpa, LHS; %, High grade mineralisation (~12% ZnEq) targeted in the first five years of mine plan Average production in steady state years ~340ktpa ZnEq (FY30 to FY44) 400 350 300 250 200 150 100 50 Potential to extend the initial resource life Notes: a. Refer to important notices (slide 2) for additional disclosure. 0 Up to 4.3Mtpa nameplate capacity, ~22 year resource life 9.9% Resource life (FY27 to FY49) ■Zinc (LHS) Lead (LHS) Silver (LHS) 9.8% Steady state years (FY30 to FY44) ● ZnEq head grade SLIDE 16 SOUTH32
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