• Maintained focus on safety with TRIF of 1.3 and six High Potential Incidents
• Achieved 46% of annual CuEq production guidance in H1 FY26, with volumes weighted to H2
• Underlying operating costs at MATSA and Motheo remained well aligned with annual guidance
• Announced binding term sheet to earn 80% in Kalkaroo Copper-Gold Project in Australia

Sandfire Resources reported its December 2025 quarterly results, highlighting a further reduction in its Total Recordable Injury Frequency (TRIF) to 1.3 and six High Potential Incidents during the quarter as it maintained an unrelenting focus on safety. The company achieved Group Copper Equivalent (CuEq) production of 72.1kt in H1 FY26, representing 46% of the mid-point of its annual guidance range, and has retained all production, cost and capital expenditure guidance for FY26 with volumes now expected to be more heavily weighted toward H2 FY26. MATSA delivered CuEq production of 46.4kt in H1 FY26, representing 48% of the mid-point of its annual guidance range, while Motheo's CuEq production decreased by 12% to 25.7kt in H1 FY26 due to planned maintenance and mobile fleet availability challenges. Underlying operating costs at both MATSA and Motheo remained well aligned with annual guidance. During the quarter, Sandfire announced a binding term sheet with Havilah Resources to earn an 80% interest in the Kalkaroo Copper-Gold Project and establish an exploration strategic alliance in the Curnamona Province in South Australia. The company also commenced a review of the fit of the Black Butte Copper Project within its global portfolio.

Sandfire has retained all production, cost and capital expenditure guidance for FY26, with volumes now expected to be more heavily weighted toward H2 FY26.

The company is exceptionally well positioned to fund its growth commitments and prosper in the current environment, with a strong balance sheet, modern mining complexes, and exposure to a preferred suite of commodities.