SIMS LIMITED — Capital/Financing Update 2026

Feb 8, 2026

ASX RELEASE

9 February 2026

(ASX:SGM, USOTC:SMSMY)

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SIMS LIMITED CONSOLIDATES ITS HOUSTON OPERATIONS, AGREEING TO ACQUIRE ASSETS OF TRI COASTAL TRADING AND ENTERING INTO AN AGREEMENT TO SELL ITS MAYO SHELL PROPERTY

Sims Limited (“ Sims” or “the Company ”) today announced that it has entered into an agreement to purchase assets of TCT Trading, LLC d/b/a Tri Coastal Trading (“ TCT ”) for US$66.5 million (“the Transaction ”) as a key component to consolidating its Houston operations and significantly reducing its operating cost base. The Company has also entered into an agreement to sell its nearby Mayo Shell property in Houston. The proceeds from Mayo Shell will substantially fund the acquisition of TCT. Net of targeted synergies, the acquisition reflects an EBITDA multiple of less than 4 times and a Return on Invested Capital (“ROIC”) for the combined businesses in excess of 20% post synergies.

TCT is based in Houston, Texas and ships in excess of 350,000 tonnes of processed obsolete scrap annually. A key component of the Transaction is the consolidation of Sims’ Houston ferrous operation onto the TCT location and the novation of TCT’s Enstructure LLC service agreement to Sims (“ Service Agreement ”), which includes exclusive access to harbourside land and a secure, deep-sea dock facility in the Galena Park industrial area of Houston. The consolidation to the Enstructure facility will provide significant operating and administrative cost savings and will expand Sims’ logistics capabilities to source and ship scrap metal by truck, rail, barge and bulk, both domestically and internationally.

The Service Agreement has 18 years remaining, and two five-year extension options.

The Transaction will enable Sims to divest its Houston land portfolio, including Mayo Shell, for proceeds estimated to be in excess of US$100 million. The Company estimates that following integration and the incorporation of synergies across the two businesses, total EBITDA, including Sims’ existing ferrous and nonferrous businesses in Houston, will be in excess of US$25 million assuming current ferrous and nonferrous sale prices.

Commenting on the Transaction, Sims’ CEO and Managing Director, Stephen Mikkelsen said: “We have been looking for a solution to our Houston business for some time. It is a big market. Houston is the fourth largest city in the USA and Texas’s GDP is US$2.5 trillion, the second largest in the USA. It also operates heavy industries such as oil and energy that have high metal intensity. While we have made significant progress in turning our Houston business around over the last two years, its ultimate potential was always hampered by the lack of a deep-sea dock, which would have only been achievable with significant capital expenditure at our Mayo Shell site.

“TCT is an ideal solution to this problem. We free up all our Houston land for sale, avoid significant capital expenditure on the current facilities, significantly reduce our cost per tonne, and meaningfully grow our EBITDA, EBIT and ROIC.”

Mayo Shell is surplus, non-operating land asset located in Houston. The sale of Mayo Shell is subject to customary conditions, including due diligence, and is expected to close over the coming months. Marketing of the additional land parcels has commenced but may take up to 18 months to complete. These divestments form part of Sims’ ongoing portfolio management approach, focused on optimising the asset base and recycling capital into higher-return opportunities.

An investor briefing will be held on 10 February 2026 at 9:00am AEDT and will be webcast live. Webcast details are available in the Investor section of the Sims website: https://www.simsltd.com

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 approximately 3,900 employees globally, the company operates more than 150 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-the-Counter 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