SIMS LIMITED — Director's Dealing 2019

Sep 5, 2019

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

	Name of entity SIMS METAL MANAGEMENT LIMITED
ABN	69 114 838 630

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	ALISTAIR FIELD
Date of last notice	12 November 2018

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	The Ordinary Shares acquired are held bytheregisteredholderHSBCCustodyNominees (Australia) Limited – A/C 2 onbehalf of Morgan Stanley Smith BarneyLLC, which company provides services inconnectionwiththeentity'sglobalemployee share plan
Date of change	(a) 30 August 2019(b) 31 August 2019

+ See chapter 19 for defined terms.

No. of securities held prior to change	Direct Interest
	548,981 Performance Rights
	109,537 Options @$9.38 exp 13/11/2022
	112,109 Options @$10.51 exp 10/11/2023
	230,076 Options @$13.43 exp 9/11/2024
	294,673 Options @$12.34 exp 9/11/2025
	74,948 Restricted Stock Units
	Indirect Interest51,994 Ordinary Shares(held by the registered holder – SamanthaField)
	49,348 Ordinary Shares(held by the registered holder –HSBCCustody Nominees (Australia) Limited –A/C 2)
Class	(1)Performance Rights
	(2) Restricted Stock Units
	(3) Ordinary Shares
Number acquired	(a) 30 August 2019(1)36,460 Ordinary Shares (12,386Ordinary Shares were withheld bythe entity to cover taxes due,resulting in the delivery of 24,074Ordinary Shares)
	(b) 31 August 2019(1)37, 474 Ordinary Shares (12,730Ordinary Shares were withheld bythe entity to cover taxes due,resulting in the delivery of 24,744Ordinary Shares)

+ See chapter 19 for defined terms.

Number disposed	(a) 30 August 2019
	(1)36,460PerformanceRights(vested)
	(2) 34,468PerformanceRights
	(lapsed)(3) 12,386OrdinaryShareswere
	withheld by the entityto cover
	taxes due on the vesting
	(b) 31 August 2019
	(1)37,474RestrictedStockUnits
	(vested)
	(2) 12,730OrdinaryShareswere
	withheld by the entityto covertaxes due on the vesting
Value/Consideration
Note: If consideration is non-cash, provide details and estimatedvaluation	N/A
No. of securities held after change	Direct Interest
	478,053 Performance Rights
	109,537 Options @$9.38 exp 13/11/2022
	112,109 Options @$10.51 exp 10/11/2023
	230,076 Options @$13.43 exp 9/11/2024
	294,673 Options @$12.34 exp 9/11/2025
	37,474 Restricted Stock Units
	Indirect Interest
	51,994 Ordinary Shares
	(held by the registered holder – SamanthaField)
	98,166 Ordinary Shares
	(held by the registered holder –HSBC
	Custody Nominees (Australia) Limited –A/C 2)

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback

(a) 30 August 2019(1)Issue of 36,460 Ordinary Sharesfollowing the vesting of 36,460Performance Rights under theSims Metal Management LongTerm Incentive Plan ("SimsMMPlan")(2) Withholding 12,386 OrdinaryShares by the entity to cover taxesdue, resulting in the delivery of24,074 Ordinary Shares under theSimsMM Plan(3) Lapsing of 34,468 PerformanceRights under the SimsMM Plandue to non-vesting(b) 31 August 2019(1)Issue of 37,474 Ordinary Sharesfollowing the vesting of 37,474Restricted Stock Units under theSimsMM Plan(2) Withholding 12,730 OrdinaryShares by the entity to cover taxesdue, resulting in the delivery of24,744 Ordinary Shares under theSimsMM Plan

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change

+ See chapter 19 for defined terms.

No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

Part 3 – +Closed period

Were the interests in the securities or contracts	No
detailed above traded during a +closed periodwhere prior written clearance was required?
If so, was prior written clearance provided to allowthe trade to proceed during this period?
If prior written clearance was provided, on whatdate was this provided?

+ See chapter 19 for defined terms.