2021 Annual General Meeting

9:00am (AEDT), Tuesday 10 November

Geoff Brunsdon, Chairman Alistair Field, Group CEO and Managing Director

Disclaimer

The material contained in this document is a presentation of information about the Group's activities current at the date of the presentation, 10 November 2021. It is provided in summary form and does not purport to be complete. It should be read in conjunction with the Group's periodic reporting and other announcements lodged with the Australian Securities Exchange (ASX).

To the extent that this document may contain forward-looking statements, such statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Group, and which may cause actual results to differ materially from those expressed in the statements contained in this release.

This document is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor.

Authorised for Release by: the Company Secretary ABN 69 114 838 630 Head Office: level 9, 189 O'Riordan Street, Mascot, NSW, Australia 2020

Welcome to the 2021 AGM Geoff Brunsdon, Chairman

Acknowledgement of Country Heather Ridout

Chairman's Address Geoff Brunsdon, Chairman

CEO Address Alistair Field, Group CEO

Summary of Financial Outcomes

All profitability metrics showed major improvement

Sales Revenue$5,916.3million		Sales Volumes8.593 million tonnes
FY20$4,908.5 million	20.5%	1H 4.30 million 2H 4.25 millionFY208.154 million tonnes	5.4%
Underlying1EBITDA$579.9 million		Net Cash Balance$8.3 million
1H $61 million 2H $123 millionFY20$144.9 million	300.2%	As at 30 Jne201630 June 2020$110.4 million	-92.5%


Underlying1EBIT$386.6 million		Return on Productive Assets220.4%
1H ($5) million 2H $63 millionFY20$(57.9) million	767.7%	1H (0.4)% 2H 5.5%FY20-3.0%	780.0%

Underlying1NPAT$284.1 million		Final Dividend30 cps (50% franked)

1Underlying earnings excludes significant non-recurring items, the impact of non-qualifying hedges, and internal recharges 2Underlying EBIT / average of opening non-current assets and ending non-current assets excluding assets relating to adoption of AASB 16 Leases

Employee Health & Safety

Lowest ever recorded number of injuries, despite adverse changing conditions in FY21

Actual incidents significantly reduced year over year Proactive lead indicator programs drove significant

safety improvement, including
- Lowest number of critical risk incidents
- Lowest number of recordable injuries
- Lowest number of lost time cases
11,977 corrective actions were identified and closed. This represents 96% of total identified actions
Equal lowest TRIFR driven by lowest ever recorded number of injuries despite a 20% loss of hours year over year, driven by COVID-19 related reductions in staff, temporary site shut-down, and the sale of SLS sites in Europe

1Defined as total recordable injuries x 200,000 divided by number of hours worked for employees and contractors. 8

Sustainability

We are pleased with our progress across each of the pillars, despite COVID-19 disruption

Sims' Sustainability Pillars FY21 Update

Operate Responsibly: Foundation of a sustainable company

We commit to operating as a best-in-class business continuously improving our safety performance, employee engagement, operating performance and upholding responsible and ethical business practices

Close the Loop: Raising the bar on sustainability

We commit to investing in innovative technologies to extract more value from materials, re-think waste and enable the circular economy to not only close our own materials loop but support others do the same

Partner for Change: Amplifying our impact

We commit to working with our partners to create new business models that ensure a safe, healthy and productive value chain to create shared value and keep resources in use at their highest value as long as possible

Executed the Safety Risk Incident Programme
Implemented control measures to prevent or minimise exposure of employees to COVID-19 risks during rendering of essential services
Developed the FY25 and beyond sustainability targets
Increased usage of renewable energy across the Sims operations
Developed pipeline of projects for carbon mitigation, reduction and elimination
Increased the number of partnerships to enable circularity and maintain resources in use as long as possible
Worked with the World Business Counsel of Sustainability Development to create circularity metrics, solutions and partnerships for circular electronics and

plastics and packaging

FY21 Highlights

Strong momentum and progress with record profit and safety results

Strengthened leadership position in ESG Built strong momentum

Lowest ever recorded number of injuries
Developed FY25 and beyond targets
Increased usage of electricity from renewable sources
Published inaugural Taskforce on Climate-Related Financial Disclosures report

Continued transformation to deliver growth and less cyclical earnings

Increased contribution of SLS to Group earnings; set volume targets for FY22 & FY25
Progressed SAR's growth strategy
SRR achieved new milestones
Acquired Alumisource
Best underlying EBIT result in 13 years
$75 million cost savings
Improved margins in the core metal business
2H FY21 intake volumes nearly at FY19 levels

Returned excess capital to shareholders

Total dividend of 42.0 cents per share while continued investing in the business ($161.4 million) and maintained a conservative balance sheet
Share buyback of up to $150 million1

1Share buy back announced on 23 August 2021

Trading Update & Outlook Alistair Field, Group CEO

Trading Update

Earnings momentum continued into 1H FY22 driven by strong trading margins across all major segments

Group

Forecasted underlying EBIT of $310 to $350 million in 1H FY22 driven by North America businesses, representing approximately a sixfold increase from the prior comparable period
Strong trading margins in ferrous and non-ferrous products due to:
- sustained good market prices and
- sound margin management across all businesses
Partially offsetting the strong margins has been freight price volatility and the emergence of inflationary pressures on general business costs
The most likely risks to the 1H FY22 forecasted result are (i) timing of shipments towards the end of December and whether they are accounted, from a revenue recognition perspective, as December or January sales, (ii) volatility in market prices, and (iii) volatility in freight prices
Proprietary intake volumes for the September Quarter 2022 were up over 10% on the prior comparable period. However, they were slightly below the FY19 average proprietary intake volumes, largely due to Covid-19 related lockdowns
Operating cash flow for the September Quarter 2022 was solid, with a positive contribution from working capital movements. Operating cash flow for 1H FY22 and FY22 could be significantly positively or negatively impacted by the level of working capital in the business at that time, largely stemming from sales mix, commodity prices, and inventory levels

Trading Update

North America Metal

Delivered a very strong trading margin for 1Q FY22 driven by a strong trading margin per tonne and good sales volumes
Intake volumes were up on both the prior comparable period and the FY19 average

Australia & New Zealand Metal

Delivered a strong trading margin in 1Q FY22 driven by a strong trading margin per tonne, partially offset by weaker sales volumes
Intake volumes were up on the prior comparable period but down on the FY19 average due to the impact of lockdowns

UK Metal

Delivered a strong trading margin for 1Q FY22 driven by a strong trading margin per tonne, despite pressures in ferrous products due to lower premium from the deep sea market
Both sales and intake volumes were down on the prior comparable period due to a combination of yard closures and Covid-19 impacts

SA Recycling

Delivered a very strong EBIT contribution for 1Q FY22, driven by a strong trading margin per tonne and good sales volumes
The business progressed on its growth strategy with four acquisitions, including the recently announced acquisition of PSC

SLS

Increased repurposed units and achieved double-digit growth in underlying EBIT in Q1 FY22 compared to prior comparable period

Macro Trends

Positive trends present a multi-year structural-growth opportunity for Sims

Ongoing or announced stimulus spending will increase demand for steel intensive infrastructure spending and drive retail consumption. Post consumption scrap will also increase. Positive for metal recycling (both ferrous and non-ferrous)
Global decarbonisation of steel making, and electricity generation industries will drive demand for recycled metal
Cloud repurposing continues to grow at a rapid pace
There are risks to the materialisation of these positive drivers, particularly as it relates to global uncertainty from geopolitical risks, macro-economic factors, and the unpredictability of how COVID-19 may evolve

Meeting Procedures

Matter	Procedure
Voting	All voting will be determined by a pollTo be able to vote you must register for a voting card by selecting the "Get avoting card"from the bottom of the siteEnter your shareholder number and postcode OR proxy number to receive thevoting cardCast your vote "FOR", "AGAINST" or "ABSTAIN" each resolution and submit vote byselecting"Submit Vote" or "Submit Partial Vote"You can edit your voting card at any point while voting is open by selecting "EditCard", butyou must submit your voting cardVoting will end five minutes after the close of the MeetingOnly shareholders, proxy holders or company representatives may voteFor joint shareholdings, only the first shareholder to register for a voting card will beable tovote, the other shareholder will not be able to vote during the meeting
Questionprotocol	You can ask questions once you have registered to vote by selecting the "Ask aQuestion"boxYou can ask a general question or a question specific to a resolutionIf you are asking multiple questions, please submit all questions separatelyIf your question is answered during the meeting, you can reply by asking anadditionalQuestion

Matter

Procedure

Voting

All voting will be determined by a pollTo be able to vote you must register for a voting card by selecting the "Get avoting card"from the bottom of the siteEnter your shareholder number and postcode OR proxy number to receive thevoting cardCast your vote "FOR", "AGAINST" or "ABSTAIN" each resolution and submit vote byselecting"Submit Vote" or "Submit Partial Vote"You can edit your voting card at any point while voting is open by selecting "EditCard", butyou must submit your voting cardVoting will end five minutes after the close of the MeetingOnly shareholders, proxy holders or company representatives may voteFor joint shareholdings, only the first shareholder to register for a voting card will beable tovote, the other shareholder will not be able to vote during the meeting

Questionprotocol

You can ask questions once you have registered to vote by selecting the "Ask aQuestion"boxYou can ask a general question or a question specific to a resolutionIf you are asking multiple questions, please submit all questions separatelyIf your question is answered during the meeting, you can reply by asking anadditionalQuestion

"To receive and consider the financial statements of the Company and its controlled entities for the year ended 30 June 2021 and the related Directors' Report, Directors' Declaration and Auditor's Report".