• Copper equivalent production fell short of expectations due to heavy rainfall and unplanned maintenance at MATSA, and a delay in the transition to higher grade ore at Motheo
• Underlying operating costs at both MATSA and Motheo expected to be materially aligned with prior guidance for FY26
• Executed definitive transaction agreements with Havilah Resources to advance the Kalkaroo Copper-Gold project

Sandfire Resources Ltd reported its March 2026 Quarterly results, with the company finishing Q3 FY26 with a Total Recordable Injury Frequency (TRIF) of 1.5, which sadly included the Group's first fatality. Group Copper Equivalent (CuEq) production was 34.5kt in Q3 FY26, with MATSA delivering 21.7kt and Motheo 12.8kt. The company retained its FY26 CuEq production guidance range of 149kt to 165kt, with full-year volumes forecast to be within the lower half of the range. Underlying operating costs at both MATSA and Motheo are expected to be materially aligned with prior guidance for FY26, despite the current conflict in the Middle East creating supply chain risks. The company generated record financial outcomes in Q3 FY26, including unaudited Group sales revenue of $408M and Underlying EBITDA of $220M, finishing the period with a net cash balance of $76M. Sandfire also executed definitive transaction agreements with Havilah Resources to advance the Kalkaroo Copper-Gold project and regional exploration in the Curnamona Province.

Sandfire expects its Underlying Operating Unit Costs for both MATSA and Motheo to be materially aligned with prior guidance of $86/t and $44/t of ore processed, respectively, for FY26.

The company remains well positioned to navigate current macroeconomic uncertainty, with its talented people, strong balance sheet, and preferred suite of commodities.