• Reported Group Copper Equivalent (CuEq) production of 34.5kt in Q3 FY26
• Delivered CuEq production of 21.7kt at MATSA, constrained by high rainfall and unplanned maintenance
• Achieved CuEq production of 12.8kt at Motheo, with transition into higher grade ore delayed

Sandfire Resources Ltd (ASX: SFR) provided a preliminary operations update in advance of its March 2026 Quarterly Report. The key highlights include:- Reported Group Copper Equivalent (CuEq) production of 34.5kt in Q3 FY26 for CuEq production of 106.5kt in the nine months to 31 March 2026.- Delivered CuEq production of 21.7kt at MATSA in Q3 FY26 for CuEq production of 68.0kt in the nine months to 31 March 2026, as unusually high rainfall and unplanned maintenance constrained performance.- Achieved CuEq production of 12.8kt at Motheo in Q3 FY26 for CuEq production of 38.5kt in the nine months to 31 March 2026, as the transition into higher grade ore was delayed, notwithstanding a significant improvement in the operation's annualised ore mining and processing rates.- Reduced throughput rate at MATSA is expected to have resulted in a temporary increase in the operation's Underlying Operating Unit Cost in the March 2026 Quarter.- Established an unaudited net cash balance of $76M as at 31 March 2026.The company's FY26 guidance remains unchanged, with CuEq production now expected to be within the lower half of the 149kt to 165kt range. MATSA is now expected to achieve CuEq production comfortably within the lower half of its 91kt to 101kt guidance range, while Motheo is expected to achieve CuEq production at the bottom of its 58kt to 64kt guidance range.

The Group's CuEq production guidance range of 149kt to 165kt remains unchanged, with full-year volumes now forecast to be within the lower half of the range. MATSA is now expected to achieve CuEq production comfortably within the lower half of its 91kt to 101kt guidance range, while Motheo is expected to achieve CuEq production at the bottom of its 58kt to 64kt guidance range across FY26.