SIMS LIMITED — Capital/Financing Update 2024

Sep 18, 2024

ASX & MEDIA RELEASE

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(ASX: SGM, USOTC: 19 September 2024 SMSMY)

Metal Trading Update

Further to the commentary shared recently in its FY24 financial results presentation related to the trading improvement experienced in the second half of the year, Sims Limited (“Sims” or the “Company”) today provided guidance on the expected Q1 FY25 trading performance of its Metal businesses.

Despite ongoing market challenges across all regions, the Metal businesses are projected to deliver an estimated EBIT of circa $55 million in Q1 FY25. All the Metal businesses are on track to contribute to this good start to FY25, particularly North America Metal (“NAM”), which is estimated to deliver $29 million in EBIT and 22% in Trading Margin.

NAM’s performance builds on the improvement seen in the latter part of FY24, where it delivered an EBIT of $12 million in Q4 FY24, following a loss of $15 million in Q3 FY24. NAM’s recent performance is encouraging, driven by the effective execution of its revised strategy to focus on margin, including buying more unprocessed material and targeting the most favourable markets. These disciplined actions have delivered tangible results.

SA Recycling’s performance remains robust. Sims’ 50% share of SA Recycling’s earnings is expected to deliver EBIT of $24 million for the first quarter of FY25 above its 2H FY24 run rate and at a Trading Margin of 29%.

Australia and New Zealand Metal (“ANZ”) continued to face challenging market conditions, impacted by increased Chinese exports into Asia and a slowdown in the domestic market. While its estimated EBIT contribution of $13 million for the first quarter of FY25 is below the 2H FY24 run rate, it marks a solid start to FY25 with an expected Trading Margin of 27% for the quarter.

Stephen Mikkelsen, CEO and Managing Director of Sims Limited, commenting on the announcement, said “It is encouraging to see the improved performance of our Metal businesses despite the challenging market conditions, particularly as we refocused our

portfolio. I am especially pleased with the strong results in NAM, which highlight the successful execution of our strategy in a difficult market and the team's commitment to organisational adjustments.”

It is important to note the Q1 FY25 estimates are unaudited and remain subject to shipping schedules and adjustment. The estimates may not fully reflect future earnings due to ongoing market volatility.

Authorised for release by : The Company Secretary

About Sims Limited

Founded in Australia in 1917, Sims Limited is a global leader in metal recycling and the provision of circular solutions for technology. Employing over 4,600 employees globally, the company operates more than 160 facilities across 13 countries. Sims Limited plays a vital role in helping increase circularity and decarbonisation by supplying recycled materials and re-purposed products. The company’s ordinary shares are listed on the Australian Securities Exchange (ASX: SGM), and its American Depositary Shares are quoted on the Over-theCounter market in the United States (USOTC: SMSMY). The Company’s purpose, create a world without waste to preserve our planet, is what drives its constant innovation and leadership in the circular economy. For more information, visit www.simsltd.com.

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

Contacts:

Investors Media Ana Metelo Stephanie Glue Director, Investor Relations and Global Head of Corporate and Government Sustainability Affairs ana.metelo@simsmm.com stephanie.glue@simsmm.com