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CORPORATE UPDATE JUNE 2014

OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

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Page 1: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

CORPORATE UPDATE JUNE 2014

Page 2: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

DISCLAIMER

This presentation has been prepared by OZ Minerals Limited (“OZ Minerals”) and consists of written materials/slides for a presentation concerning 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 of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission there from, or otherwise arising in connection with it. Some statements in this presentation are forward-looking statements within the meaning of the US securities laws. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside OZ Minerals’ control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities, such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in OZ Mineral’s expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based. Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. OZ Minerals financial results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including Underlying EBITDA, Underlying EBIT and Underlying NPAT. These measures are presented to enable understanding of the underlying performance of the Company without the impact of non-trading items such as impairment, impairment reversal and litigation settlement expense. Non-IFRS measures have not been subject to audit or review. All figures are expressed in Australian dollars unless stated otherwise.

OZ Minerals | 2

Page 3: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

INFORMATION RELATING TO THE

REPORTING OF PRODUCTION TARGETS Production outlook

a) The information that relates to production outlook on pages 8, 16, 17 and 23 is extracted from the report entitled “Prominent Hill Reserves and Resources and Production Outlook” (PHRR)

released to the market on 11 December 2013 (and available to view at www.ozminerals.com). The Company confirms that it is not aware of any new information or data that materially affects the

information included in the PHRR and that all material assumptions and technical parameters underpinning the estimates in the PHRR continue to apply and have not materially changed.

b) The production target from Malu Underground on pages 8, 10, 14, 16 17, 18 and 23 is based on the proportions of measured, indicated and inferred resources and mining assumptions on

page 11 of the presentation entitled Prominent Hill Reserves and Resources and Production Outlook that accompanies the ASX announcement referred to in a) above. The Company has not yet

completed the necessary technical studies to determine an ore reserve and the production target should not be misconstrued as an ore reserve. The stated production target is based on the

company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies

are required to establish sufficient confidence that this target will be met and to report an ore reserve. There is a low level of geological confidence associated with inferred mineral resources and

there is no certainty further exploration work for Malu Underground will result in the determination of indicated mineral resources or that production itself will be realised.

Mineral Resources

Prominent Hill

The information in this presentation that relates to Prominent Hill Copper Mineral Resource –June 2013, Malu Open Pit Ore Reserves –June 2013 and Ankata Underground Ore Reserves –June

2013 (on pages 31 and 32) is extracted from the report entitled “Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013” created on 11 December 2013 and is available

to view on www.ozminerals.com/operations/resources--reserves.html. The Company 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 estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the

relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented

have not been materially modified from the original market announcement.

Khamsin

The information in this presentation that relates to the Khamsin Mineral Resource as at 23 March 2014 (on page 21) is extracted from the report entitled “Khamsin Mineral Resources Statement as

at 23 March 2014” which was released to the market on 26 May 2014 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company 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 estimates of Mineral Resources or Ore Reserves, that

all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms

that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Carrapateena

The information in this presentation that relates to Carrapateena Mineral Resource – 2013 at 0.3%Cu cut-off grade (on page 22) is extracted from the report entitled “Annual Carrapateena

Resource Update – 2013” created on 28 November 2013 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company 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 estimates of Mineral Resources or Ore Reserves, that all material

assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form

and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Ankata Resource Drilling

The information in this presentation that relates to the ‘Peabrain’ drilling at Ankata (on page 13) is extracted from the report entitled “OZ Minerals Prominent Hill Site Visit” which was released to

the market on 15 May 2014 and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information

included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from

the original market announcement.

OZ Minerals | 3

Page 4: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

COMPANY OVERVIEW

OZ Minerals | 4

Page 5: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

OZ MINERALS MAJOR ASSETS

Market Capitalisation

~ A$1.3 billion

Issued Share Capital

303 million

Shareholders

~ 65,000 shareholders

Prominent Hill Significant copper asset.

Carrapateena Large copper resource in pre-feasibility, plus nearby discovery at Khamsin.

Cash Balance A$364 million at 31 December 2013. US$200 million undrawn bank debt facility.

Liquid Investments Incl ~ 19% of Sandfire Resources, ~27% of Toro Energy.

Prominent Hill copper operation • In production since 2009. • Second underground

development in 2014.

Carrapateena

• Significant new IOCG

copper deposit.

Gawler Craton

OZ Minerals | 5

Page 6: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

DISCLAIMER

PROMINENT HILL

OZ Minerals | 6

Page 7: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

South Australia is a favourable mining

jurisdiction and Prominent Hill is well

located with respect to road and rail,

power and water. Export route to Asian

and European markets via Adelaide.

PROMINENT HILL LOCATION

OZ Minerals | 7

Page 8: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

Deposit Iron-Oxide Copper Gold

Haematite breccia hosted

Mine Malu Open Pit and Ankata Underground Sub-Level Open

Stoping mine.

Malu Underground due to commence commissioning in late

2014*

Plant Crush, grind, flotation

Nameplate 8Mtpa

Operating at ~9.5Mtpa since 2010.

Workforce Approximately 1,400 including contractors

and approximately 75% from South Australia.

2014 production

guidance*

Contained copper 75,000t to 80,000t

Contained gold 130,000oz to 140,000oz

C1 cost guidance 2014 US$1.15–US$1.25/lb

PROMINENT HILL COPPER GOLD OPERATION

*Refer to p3 for Production Outlook and Malu Underground disclaimer.

OZ Minerals | 8

Page 9: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL SITE

TAILINGS STORAGE

FACILITY

OPEN PIT

ROM PAD

PROCESSING

PLANT

ANKATA DEPOSIT AREA

NORTHERN

WASTE DUMP

SOUTHERN

WASTE DUMP

MALU UNDERGROUND AREA

OZ Minerals | 9

Page 10: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL MINING AREAS

ANKATA RESOURCE

MALU OPEN PIT

MALU UNDERGROUND

MINE – COMMISSIONING

PLANNED LATE 2014*

*Refer to page 3 for Malu Underground Disclaimer

OZ Minerals | 10

Page 11: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL STRONG PERFORMANCE RETURNED

Productivity improvements undertaken including:

• Double benching and adjusted flitch heights.

• Adjustment and smoothing of ramp gradients.

• Changing blast pattern.

• Automation of dispatch system.

• Demobilisation of equipment.

OZ Minerals | 11

Malu Open Pit - 29 April 2014

Page 12: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

FOCUS ON COSTS GROSS OPEN PIT EXPENDITURE TO DECREASE

• Total material movement in the

Malu Open Pit to reduce steadily.

• Equipment demobilisation

commenced.

• Gross open pit expenditure to

decrease as equipment is

demobilised.

• Cash flow generation to improve.

• Ore tonnes to increase.

• Waste mining tonnages to

decrease.

OZ Minerals | 12

Page 13: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

ANKATA DEVELOPMENT AND PRODUCTION Q4 2013–2014

ANKATA UNDERGROUND STRONG OPERATING PERFORMANCE

• Ankata Underground discovered 2007. First production 2012.

• Reserve grade 2% copper.

• 1.2Mtpa mining rate.

• Production life extended by four years to 2022.

• Potential incremental extensions at ‘Peabrain’.*

OZ Minerals | 13

* Refer to the Ankata disclaimer on page 3.

Page 14: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

MALU UNDERGROUND ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014

* Refer to page 3 for Malu

Underground disclaimer.

* • Second underground mine.*

•Reserve evaluation to be completed by H1 2014.

• First copper production planned in late 2014.*

OZ Minerals | 14

Page 15: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROCESSING PLANT CONSISTENT STRONG PERFORMANCE

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

To

nn

es

Mil

led

(M

t)

TONNES MILLED

Total Tonnes Milled DesignTonnes Milled

• Consistent throughput

above nameplate

capacity.

• Throughput targeted to

increase in H2 2014

subject to ongoing

strong open pit

performance.

OZ Minerals | 15

Page 16: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL COPPER PRODUCTION OUTLOOK

• Malu Open Pit and Ankata Underground production target for 2015 and beyond based only on Reserves.

• Increase in copper tonnes and grade from Malu Open Pit, concurrent with significant drop in waste movement.

*Refer to page 3 for Production Outlook and Malu Underground disclaimers.

OZ Minerals | 16

*

*

*

*

Page 17: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL GOLD PRODUCTION OUTLOOK

• Malu Open Pit and Ankata Underground production target post 2015 based only on Reserves.

• Proportion of gold ore in mill feed will decrease as copper ore availability and grade increases.

• High gold content in Malu Underground Resource.

*Refer to p3 for Production Outlook and Malu Underground disclaimers.

GOLD PRODUCTION OUTLOOK*

*

OZ Minerals | 17

*

Page 18: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

PROMINENT HILL LIFE OF MINE CONCEPT TO DATE

Ankata Underground

Mine

Malu Underground Mine*

Copper Stockpiles

Gold Stockpiles

Malu Open Pit

Plant throughput

9-10Mtpa

Plant throughput

~6Mtpa

Batch

processing

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

*Refer to p3 for Malu Underground disclaimer.

?

?

OZ Minerals | 18

Page 19: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

CARRAPATEENA

OZ Minerals | 19

Page 20: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

Carrapateena is another large Iron Oxide

Copper Gold deposit, similar to Prominent Hill,

located 300km to the southeast. The Stuart

Highway, rail line to Adelaide and grid power

are within 50km of the site.

Port facilities exist at both Port Pirie and

Whyalla.

CARRAPATEENA LOCATION

OZ Minerals | 20

Page 21: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

CARRAPATEENA PFS NEAR COMPLETION INITIAL RESOURCE AT KHAMSIN

• Acquired in May 2011 for US$250

million.

• Tenement package ~3,620sq km.

• Large Iron Oxide Copper Gold

deposit – similar to Prominent Hill.

• Pre-feasibility study continues in

2014.

• Confidentially agreements have

been entered into with interested

parties.

• Maiden Resource for Khamsin

deposit of 202Mt at 0.6% copper.*

• Regional exploration at Fremantle

Doctor commenced.

Drillhole FDR004 at 960m

vertical depth

Showing massive chalcopyrite.

Results awaited.

* Refer to page 3 for Khamsin

Mineral Resource disclaimer.

OZ Minerals | 21

Page 22: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

2013 INFERRED/INDICATED RESOURCES 2011 INFERRED RESOURCES

Looking West

* These wireframes show the interpreted limits of the Chalcopyrite envelope and Bornite zones respectively. These domains contain almost the entire resource. Intervals calculated using a 0.3% Cu cut-off grade.

Resource classification is shown in ‘stylised’ view at Section 737800mE.

* Refer to p3 for Carrapateena Mineral Resource Disclaimer.

Chalcopyrite Zone

Upper Bornite Zone

Lower Bornite Zone

203Mt @ 1.31% Cu, 0.56 g/t Au

At 0.7% Cu cut off

800Mt @ 0.80% Cu, 0.30 g/t Au

At 0.3% Cu cut off

Bornite Zone

250m

CARRAPATEENA AUSTRALIA’S LARGEST UNDEVELOPED COPPER PROJECT

Indicated Resources

Inferred Resources

LEGEND

Chalcopyrite Zone

Vertical depth below surface ~475m

OZ Minerals | 22

Page 23: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

SUMMARY

• Production outlook increasing to 105+ktpa copper from 2015.*

• Cost reductions remain a continued focus throughout 2014.

• Carrapateena Pre-Feasibility ongoing, discussions commenced,

exploration to commence at Fremantle Doctor.

OZ Minerals | 23

*Refer to page 3 for Production Outlook and Malu Underground Disclaimer

Page 24: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

APPENDICES

OZ Minerals | 24

Page 25: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

2012 Full Year 2013 Full Year March Qtr 2014

Mined

Malu Ore Tonnes 7,329,430 8,280,952 2,630,502

Ankata Ore Tonnes 424,965 1,205,026 286,617

Waste Tonnes 73,009,951 78,507,746 19,618,560

Mined Grade

Malu Copper % 1.04 0.63 0.68

Ankata Copper % 2.89 2.27 1.57

Gold G/T 0.52 0.58 0.55

Silver G/T 3.1 2.71 2.59

Ore Milled 9,648,325 9,499,296 2,281,891

Milled Grade

Copper % 1.19 0.87 0.90

Gold G/T 0.6 0.55 0.59

Silver G/T 3.05 2.67 2.42

Recovery

Copper % 88.9 88.4 88.5

Gold % 76 76.0 78.6

Silver % 76.3 75.2 77.4

Copper Conc Produced

Tonnes 202,355

154,369

37,493

Concentrate Grade

Copper % 50.3 47.5 48.5

Gold G/T 21.6 25.8 28.0

Silver G/T 111 123.6 114.0

Contained Metal in Concentrates

Copper Tonnes 101,737 73,362 18,182

Gold OZ 140,746 128,045 33,792

Silver OZ 721,998 613,499 31,171

PRODUCTION

OZ Minerals | 25

Page 26: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

* As disclosed (i.e. excludes impact of IFRIC20) accounting interpretation. ** Includes impact of IFRIC20 accounting interpretation.

2012 *Full

Year

2013 Full

Year

March Qtr

2014

Mining Costs 200 342.0 292.4

Deferred Mining (78.3) (167.5) (157.3)

Ore Inventory Adj 11.1 (0.4) (13.0)

Total Mining Costs 132.8 174.1 122.1

Total Site Processing Costs 49.0 62.9 54.5

Tc and Transport 32.6 38.9 42.0

Net By-product Credit (113.1) (119.2) (114.3)

Other Direct Cash Costs 18.7 22.9 17.7

Total C1 Costs 120 179.6 122.0

Royalties 6.7 6.3 6.0

Other Indirect Costs 27.3 11.1 7.3

Total Cash Costs 154 197 135.3

DD&A 72.3 132.3 133.1

Other Non Cash Costs 2.1 (7.5) (22.0)

Low Grade Gold Ore Net Realisable Value Write

Down - - 30.1

Total Production Costs 228.4 321.8 276.5

C1 COSTS – USc/lb

OZ Minerals | 26

Page 27: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

A$M Dec-12* Dec-13

Revenue 985.7 644.0

Cost of goods sold (477.5) (446.8)

Net foreign exchange (loss)/gain (11.3) 40.9

Exploration expense (114.1) (74.5)

Gain on sale of Cambodia 18.8 0.9

Other income 7.9 1.8

Other expenses (55.6) (50.5)

Underlying EBITDA 353.9 115.8

Depreciation and amortisation (174.7) (218.5)

Underlying EBIT 179.2 (102.7)

Net financing income 19.9 7.0

Income tax (expense)/benefit (47.1) 33.2

Underlying NPAT 152.0 (62.5)

Asset write down (net of tax) - (231.9)

152.0 (294.4)

* Restated for IFRIC 20

NPAT

Reduction in revenue due to lower sales volumes and pricing.

Increased mining spend with higher open pit volumes and full year production from Ankata, offset by higher waste deferral and inventory credit.

Lower A$/US$ resulted in gain on US$ denominated cash and debtors.

Increase in depreciation due to IFRIC 20 and full year of Ankata production.

Lower interest income due to reduced cash balances.

After tax impact of impairment, recorded in June 2013.

FY 2013 INCOME STATEMENT

OZ Minerals | 27

Page 28: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

-200

-150

-100

-50

0

50

100

150

200

152 (39) 52 165 (280) 112 (70) (46) (24) 80 (63)

2012

Underlying

NPAT

Commodity

pricing

FX Sales

Volume

Non

Cash

Cash Ankata Cambodia

Sale/Other

income

Income

Tax

2013

Underlying

NPAT

A$M Variance Analysis - Underlying NPAT 2012 vs 2013

First full

year of

production

from

Ankata

Proceeds from

Cambodia disposal

received in 2012

Higher

open pit

costs

driven by

volume,

offset by

lower

exploration

spend

Lower production

due to lower

grade and lower

copper only ore

mined

Increased

deferred

waste and

inventory

credit offset

by higher

depreciation

Lower

A$/US$

rate led to

gains on

revaluation

of US$

balances

Lower A$

pricing

for both

copper

and gold

UNDERLYING NPAT

OZ Minerals | 28

Page 29: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

200

400

600

800

1,000

659 168 70 (278) (114) 25 (75) 455 (91) 364

Cash Balance

December

Prom Hill

Operations

Movement in

Debtors

/Creditors

Deferred Waste Growth and

Sustaining

Capital

Interest/ FX

/Corporate/

Shared Services

Exploration Cash before

Shareholder

returns

Dividend Cash Balance

December

A$M Cash flow - 2013

Prominent

Hill provided

strong

operating

cash flows

with outlook

to

significantly

improve

Unwind of

high

debtors

held at

Dec 2012

= Sustaining $5.6m = Ankata $62.4m = Malu UG $38.1m = Carrapateena $7.6m

= Carrapateena studies $41.5m = Carrapateena drilling $18.9m = Prominent Hill $3.5m = Global $10.1m

Deferred

waste

driven by

higher

waste to

ore strip

ratio and

changes

due to

IFRIC 20

CASH FLOW

OZ Minerals | 29

Page 30: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

A$M

Consolidated

Dec-12*

Consolidated

Dec-13

Assets

Cash 659.0 364.0

Receivables 171.7 127.6

Inventories 252.3 172.8

Prepayment & Current tax asset 11.0 4.0

Investments & exploration assets 568.2 493.7

PP&E and leased equipment 1,423.4 1,355.0

Total Assets 3,085.6 2,517.1

Liabilities

Creditors 108.3 133.7

Net deferred tax liability 162.1 30.9

Provisions 29.3 24.6

Total Liabilities 299.7 189.2

Net Assets 2,785.9 2,327.9

* Restated for IFRIC 20

Lower cash balance due to investment in waste stripping and Malu UG growth project and dividend paid.

Balance sheet characterised by significant liquidity and no debt; undrawn facility: US$200 million.

Reduced inventory due to write down of low grade gold ore and more normal concentrate inventories.

Includes 19% holding in Sandfire Resources.

Impacted by asset write down and operating losses.

Decrease in PPE due to write down recorded in June, depreciation, partially offset by investment in Malu OP, Ankata and Malu UG.

BALANCE SHEET

OZ Minerals | 30

Page 31: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

For full Mineral Resource Statement see www.ozminerals.com/operations/resources--reserves.html.

*The information set out in these tables is a summary of information relating to Prominent Hill Mineral Resources set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources--reserves.html .

** The information set out in this table is a summary of information relating to Carrapateena Mineral

Resources set out in the ‘Carrapateena Mineral Resources Statement as at 30 June 2013’ created on 28 November 2013 and is’ available at www.ozminerals.com/operations/resources--reserves.html.

Prominent Hill Gold Mineral Resource – June 2013*

Classification Tonnes CuEq Cu Au Ag Cu Au Ag

(Mt) % (%) (g/t) (g/t) (kt) (Moz) (Moz)

Malu Open Pit

Measured 14 N/A 1.5 0.5 3.8 208 0,2 1.7

Indicated 25 N/A 1.1 0.5 2.9 274 0.4 2.3

Inferred 4 N/A 0.9 0.2 2.5 36 0.0 0.3

Total 43 N/A 1.2 0.5 3.2 519 0.6 4.4

Malu Underground

Measured 2 1.9 1.8 0.3 4.2 35 0.0 0.3

Indicated 33 1.5 1.2 0.6 2.8 396 0.7 3.0

Inferred 32 1.5 1.2 0.6 3.0 385 0.6 3.1

Total 67 1.5 1.2 0.6 3.0 815 1.3 6.4

Kalaya Underground

Measured 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Indicated 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Inferred 35 1.5 1.3 0.5 2.1 442 0.5 2.3

Total 35 1.5 1.3 0.5 2.1 442 0.5 2.3

Ankata Underground

Measured 8 2.7 2.4 0.5 3.6 190 0.1 0.9

Indicated 1 2.8 2.6 0.4 5.6 16 0.0 0.1

Inferred 1 1.8 1.8 0.1 4.4 14 0.0 0.1

Total 9 2.6 2.4 0.4 3.8 221 0.1 1.1

Surface Stocks

Measured 1 N/A 0.7 0.3 2.9 7 0.0 0.1

Total

Measured 25 N/A 1.8 0.5 3.7 440 0.4 3.0

Indicated 58 N/A 1.2 0.6 2.9 686 1.1 5.4

Inferred 72 N/A 1.2 0.5 2.5 878 1.1 5.8

Total 155 N/A 1.3 0.5 2.9 2,004 2.6 14.3

RESOURCES AS AT 30 JUNE 2013

Classification Tonnes CuEq Cu Au Ag Cu Au Ag

(Mt) % (%) (g/t) (g/t) (kt) (Moz) (Moz)

Malu Open Pit

Measured 1 N/A 0.1 1.5 2.1 1 0.1 0.1

Indicated 12 N/A 0.1 0.9 1.3 7 0.4 0.5

Inferred 1 N/A 0.0 0.7 1.0 0 0.0 0.0

Total 14 N/A 0.1 1.0 1.3 8 0.5 0.6

Malu Underground

Measured 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Indicated 2 1.3 0.5 1.8 1.7 10 0.1 0.1

Inferred 2 1.4 0.4 2.2 1.4 6 0.1 0.1

Total 4 1.4 0.4 2.0 1.6 16 0.2 0.2

Kalaya Underground

Measured 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Indicated 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Inferred 6 1.3 0.0 2.6 0.7 3 0.5 0.1

Total 6 1.3 0.0 2.6 0.7 3 0.5 0.1

Ankata Underground

Measured 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Indicated 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Inferred 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Total 0 0.0 0.0 0.0 0.0 0 0.0 0.0

Surface Stocks

Measured 6 N/A 0.1 0.8 2.3 6 0.2 0.5

Total

Measured 8 N/A 0.1 0.9 2.3 7 0.2 0.6

Indicated 14 N/A 0.1 1.1 1.3 16 0.5 0.6

Inferred 8 N/A 0.1 2.4 0.9 10 0.6 0.2

Total 31 N/A 0.1 1.4 1.4 33 1.4 1.4

Prominent Hill Copper Mineral Resource – June 2013*

Category Tonnes (Mt)

Cu (%)

Au (g/t)

Ag (g/t)

U (ppm)

Density (t/m3)

Cu (Mt)

Au (Moz

)

Ag (Moz

)

Indicated 356 1.0 0.4 4.3 191 3.49 3.7 4.9 50

Inferred 444 0.6 0.2 2.4 126 3.44 2.6 3.5 35

Total 800 0.8 0.3 3.3 155 3.47 6.3 8.4 84

Carrapateena Mineral Resource – June 2013** at 0.3%Cu cut-off grade

OZ Minerals | 31

Page 32: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

For full Mineral Resource Statement see www.ozminerals.com/operations/resources--reserves.html.

*The information set out in these tables is a summary of information relating to Prominent Hill Mineral Resources set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources--reserves.html.

RESERVES – SUMMARY

Malu Open Pit Ore Reserves - June 2013*

Classification Tonnes Cu Cu Au Au Ag Ag

(Mt) (%) (kt) (g/t) (koz) (g/t) (koz)

Copper Ores

Proved 16 1.3 210 0.4 200 3.4 1,800

Probable 27 1.0 270 0.5 400 2.7 2,300

Gold Ores

Proved 7 0.1 10 0.9 200 2.4 600

Probable 8 0.1 10 1.0 300 1.9 500

All Ores

Proved 24 0.9 220 0.6 400 3.1 2,300

Probable 35 0.8 280 0.6 700 2.5 2,800

Total 59 0.8 500 0.6 1,100 2.7 5,100

Ankata Ore Reserves - June 2013*

Classification Tonnes Cu Cu Au Au Ag Ag

(Mt) (%) (kt) (g/t) (koz) (g/t) (koz)

Proven 7.4 2.0 150 0.4 90 2.9 700

Probable 0.1 1.4 2 0.4 2 1.6 7

Total 7.5 2.0 152 0.4 92 2.9 707

RESERVES AS AT 30 JUNE 2013

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Page 33: OZ Minerals Corporate Update June 2014 · ON TRACK TO COMMENCE COMMISSIONING IN Q4 2014 * Refer to page 3 for Malu Underground disclaimer. * •Second underground mine.* •Reserve

OZ Minerals | 33