SIMS LIMITED — Capital/Financing Update 2021

Feb 11, 2021

(ASX: SGM, USOTC: SMSMY) 12 February 2021

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ASX & MEDIA RELEASE

Acquisition of Alumisource Corporation

Sims Limited (“Sims”) today announced that it has acquired certain commercial and operating assets of Alumisource Corporation (“Alumisource”), a leading aluminium processor and provider of furnace ready product for end customers in North America. The purchase price is split into a guaranteed component of US$22.5 million with further payments expected over the next three to five years using a pre-determined earnout formula.

The net increase in Sims’ North American metal division’s non-ferrous retail sales volumes is forecast to be approximately 33,000 tonnes. The division’s non-ferrous retail volumes were 140,000 tonnes in FY20.

Commenting on the acquisition, Alistair Field, CEO and Managing Director, said “I’m pleased to achieve this key milestone toward delivering our strategic targets and growing non-ferrous retail volumes in North America. Major aluminium customers in the United States continue to seek product that is suitable for direct charging. Alumisource meets these needs by providing ‘inspec’ furnace ready product in an automated and safe manner.”

“Alumisource is an ideal fit with our purpose, create a world without waste to preserve our planet, and our sustainability goals. One tonne of aluminium produced from recycled sources mitigates 7.9 tonnes[1] of carbon emissions compared to aluminium produced from virgin material.”

“I am also pleased that Alumisource’s founder and CEO Gabe Hudock will continue to manage Alumisource for a minimum of three to five years. Sims has a longstanding relationship with Alumisource, and I know the culture that Gabe has cultivated around safety and sustainability fits well with our overall culture and our focus on safety.”

“We are committed to a disciplined capital management approach and ensuring that new capital investments fit with our strategy and purpose, as well as meeting minimum hurdle requirements,” Mr Field said.

Authorised for lodgement by : The Company Secretary

1. Source: http://www.kesab.asn.au/simsmm/environmental-facts/ Research from Bureau of International Recycling and the University of Denmark estimates a range of 3.5 – 12.2 tonnes of carbon emission reductions.

About Sims Limited

Founded in 1917, Sims Limited is a global leader in metal recycling and electronics recovery, and an emerging leader in the municipal recycling and the renewable energy industries. Our 4,000 employees operate from more than 200 facilities across 15 countries. The Company’s ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and its American Depositary Shares are quoted on the Over-the-Counter market in the United States (USOTC: SMSMY). Our purpose, create a world without waste to preserve our planet, is what drives us to constantly innovate and offer new solutions in the circular economy for consumers, businesses, governments and communities around the world. For more information, visit www.simsltd.com.

Head Office : Suite 2, Level 9 189 O’Riordan Street Mascot NSW 2020

Contacts

Investors Angela Catt Director, Investor Relations angela.catt@simsmm.com

Media

Réal Hamilton-Romeo Director, Corporate Communications real.hamiltonromeo@simsmm.com