SIMS LIMITED — Earnings Release 2012

Aug 22, 2012

Financial Results for the Full Year Ended 30 June 2012

Sims Metal Management Limited

ASX Code: SGM

NYSE Code: SMS

Supplemental Information

23 August 2012

Disclaimer

This presentation may contain forward-looking statements, including statements about Sims Metal Management's financial condition, results of operations, earnings outlook and prospects. Forward looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions.

These forward-looking statements involve certain risks and uncertainties. Our ability to predict results or the actual effects of our plans and strategies is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from these forward looking statements include those discussed and identified in filings we make with the Australian Securities Exchange and the United States Securities and Exchange Commission (SEC), including the risk factors described in the Company's Annual Report on Form 20F, which we filed with the SEC on 14 October 2011.

Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release.

All subsequent written and oral forward-looking statements concerning the matters addressed in this release and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release. Except to the extent required by applicable law or regulation, we undertake no obligation to update these forward looking statements to reflect events or circumstances after the date of this release. Please visit our website (www.simsmm.com) for more information on the Company.

Please note that all references to $ or dollars herein are references to Australian dollars, unless otherwise indicated.

Group Financial Performance

	FY2012	FY2011	()haC%nge
()$mSalesRevenue	9,035.7	8,846.8	2.1
()(e)$mludef gdwll adbleEBITDAimirmtiintaitsxcspaenooonngasse	230.2	430.3	()46.5
()$mdelyUningEBITDA*r	253.2	414.0	()38.8
()dwllble$mGo&InAsImitaitirmtongsepaen	615.1	-	-
()$mDetiaiopcren	103.1	102.2	0.9
()$mAmtisatioorn	26.8	28.4	()65.
()$mEBIT	()514.8	299.7	()271.8
()$mUndelyEBITing*r	23.31	23.84	()56.5
()$mNPAT	()521.4	192.1	()371.4
()$mUndelyNPATing*r	77.0	182.0	()57.7
()dludEPStsitecen–	()253.3	93.3	()371.5
()UndelyEPSdlud*ingtsitercen–	37.0	88.4	()58.1
()()/hflowflowfr$mNeCaIntttingtivitiessouomoperaac	289.6	158.6	82.6
()$mCalditaExituppenres	161.1	142.8	12.8
()b$mNeDett	292.2	126.2	131.5
/()[]bbNetDetNetDetEqty%i+u	10.9	4.1	-
()les'0SaTo00nnes	14,503.3	14,204.3	2.1
()llldeddhaFuFYeDDeisciviteinetscesaarnrmnperre	20	47	()57.4

*Underlying EBITDA, EBIT, NPAT and EPS are adjusted for significant items. See schedule of significant items on page 7.

Sales Revenue by Region

$m	202FY1	20FY11	haCnge()%
()Aulas1triasa	1,228.1	1,369.2	()10.3
hNoAmticarer	6,027.0	5,993.0	0.6
()Eu2rope	861,70.	484.61,	9.91
lTota	$9,035.7	$8,846.8	2.1

• (1) Decreased sales revenue in Australasia primarily relates to declines in Manufacturing/Other sales and non-ferrous trading.
• (2) Increased sales revenue in Europe primarily relates to the acquisition of Dunn Brothers late in FY 2011 and also growth in SRS.

Sales Revenue by Product

Recycling Solutions

FY	2	0	1	1

$m	202FY1	20FY11	haCnge()%
dFeTrinrrousag	$4,39.95	$4,261.7	2.3
hrdNoFeSRenrrousecovery	326.7	339.5	()3.8
()keFeBr1rrousorage	1,572.0	1,542.4	1.9
dNoFeTrinnrrousag	1,626.8	1,665.2	()2.3
NoFeBrkenrrousorage	29.7	58.8	()49.5
()/faheMaO2tuintnucrgr	108.8	192.8	()43.6
lSoluRetiniocycgns	1,011.8	786.4	28.7
lTota	$9,035.7	$8,846.8	2.1

(1) Ferrous brokerage sales includes sales associated with SA Recycling JV being $935.7 million and $999.8 million, in FY 2012 and FY 2011, respectively.

(2) Decline in sales revenue for Manufacturing/Other relates to Australasia.

EBITA (pre-goodwill and intangible asset impairment) by Region

$m	FY2012	FY2011	Chae (ng)%
()lasAu1triasa	106.3	87.3	21.8
NohAmticarer	()25.7	140.6	()118.3
Europe	52.1	102.3	()49.1
()EBITAbyRe2iogn	$132.7	$330.2	()59.8
()llocdUnGrCoCo3tetetsaaouprporas	()5.6	()2.1	()166.7
fblesAmtisatiointaiornong	()26.8	()28.4	5.6
(p/)dwllblesEBITiintaiimirmtre-goongpaen	$3100.	$299.7	()66.5
hdwllblesNo&iintaiimirmtncasgoongpaen	()615.1	-	-
(p/)dwllblesEBITt-iintaiimirmtosgoongpaen	()$514.8	$299.7	()271.8

• (1) Australasia EBIT in FY 2012 includes a $36 million gain on sale of a business by a joint venture.
• (2) EBIT by Region is before the add-back of significant items other than the amortisation of intangibles and impairment of goodwill and other intangible assets.
• (3) Unallocated Group Corporate Costs in FY 2011 are net of a $11 million gain on sale of other financial assets.

				Group	PrTae-x	AfTater-x
	lasAutriasa	hNoAmticarer	Europe	Coterpora	lTota	lTota
$m			FY20	12
hdwll &bleNoGoInAst Iitaiairntn-casongsempme	$3.6	$569.1	$42.4	$-	$615.1	$2594.
djlisblelueInvtoAtmtstoNetReVaenryusenaa	2.3	14.8	4.2	-	21.3	13.9
RedudaAclsnccrnyua	2.2	5.5	2.2	-	9.9	6.6
l Slemf aFinBArettt oinetaenusssrangemen	-	7.9	-	-	7.9	4.9
heTrction&Otr AuisitioCostsansacqn	0.9	0.6	1.0	-	2.5	1.8
Selemf aDh aThirdPattt oisputitrtyene w	-	12.8	-	-	12.8	7.9
ditkrf aCrLs DBCtotcytoeosueanupousmer	-	4.4	-	-	4.4	2.7
l Slemlanl ChaCoettt &PPSciasioiammerenennpecrges	-	3.0	()1.0	-	2.0	80.
Other Gs IludinFoGheainationaintncgrmonf aAcJoVuisitiointtuqnoenre	()35.8	()2.0	-	-	()37.8	()36.4
l SficfoTotat Iter FY2012ignianms	()$26.8	$616.1	$48.8	$0.0	$638.1	$596.4
			FY2	011
RedudaAclsnncycrua	$0.4	$1.2	$-	$-	$1.6	$1.0
heTr&Or ACoctiontuisitiostsansacqn	1.2	0.2	1.7	-	3.1	2.2
lanlocPt RationCtseos	-	4.0	-	-	4.0	2.3
Col Slemciaetttmmeren	-	-	()12.0	-	()12.0	()9.1
f OGaSleher Fl Aintinaiaetononcsssa	-	-	-	()11.0	()11.0	()6.8
heludinheOtr Gs IFoGainationaintncgrmonf aAcuisitioJointVtuqnoenre	-	()2.0	-	-	()2.0	()1.2
Tol Sfict Ifor FY2011taignitemsan	$1.6	$3.4	()$10.3	()$11.0	()$16.3	()$11.6

EBITA (pre-goodwill and intangible asset impairment) by Product

$m	FY2012	FY2011	haCnge()%
()dl.FeTrNFSRingincsrroua	$63.9	$181.7	()64.8
keFeBrrrousorage	14.6	23.4	()37.6
dNoFeTringnrrousa	71.2	92.9	()23.4
keNoFeBrnrrousorage	1.1	61.	()331.
lluReSoingtiocycns	94.1	114.4	()17.7
//faheMaJV'sOtuingtcnurr	19.5	30.0	()35.0
()()EBITAbyPrdu12toc	$264.4	$444.0	()40.5
()GrlCoCo3&Reiotetsoupgnarporas	()137.3	()115.9	()18.5
fblesAmIntisatiotaiornong	()26.8	()28.4	65.
(p)/dwllblesEBITiintaiimirmtre-goongpaen	$100.3	$299.7	()66.5

• (1) EBIT by Product is presented pre-corporate costs (including group head office costs) and amortisation of intangibles.
• (2) EBIT by Product is before add back of other significant items and does not reflect any allocation of the write-off of non-cash goodwill and intangible asset impairment to the product categories.
• (3) Group & Regional Corporate Costs in FY 2011 are offset by a $11 million gain on sale of other financial assets.

EBIT (pre-goodwill and intangible asset impairment) Change by Region

EBIT (pre-goodwill and intangible asset impairment) Change by Product

Intake Volumes by Region

	10.4%	12.2%
Aualastrsia
rthNoAricmea
Europe
	77.4%

FY 2011

(1) Growth in Europe primarily relates to the acquisition of Dunn Brothers late in FY 2011.

()l'0ToTo00'stannes	FY2012	FY2011	Change()%
lasAutriasa	791,1	741,5	2.6
hNoAmticarer	10908,	11,044	()1.2
()Eu1rope	1,656	1,482	11.7
lTota	14355,	14271,	0.6

11

Intake Volumes by Product

()l'0ToTo00'stannes	202FY1	20FY11	haCnge()%
()hrdFeSNFSRinrrousec.	4,976	5,489	()9.3
OhePrdFetrocesserrous	5,146	4,732	8.7
()keFeBr1rrousorage	3,613	3,433	25.
NoFeousn-rr/dkeTrBrinagorage	559	573	()2.4
heOtr	61	44	38.6
lTota	14355,	14271,	0.6

(1) Ferrous brokerage tonnes includes sales associated with SA Recycling JV of 2.2 million in both FY 2012 and FY 2011.

Sales Volume by Region

()l'0ToTo00'stannes	202FY1	20FY11	haCnge()%
lasAutriasa	1,772	1,774	()0.1
NohAmticarer	11,080	10,964	1.1
()Eu1rope	1,651	1,466	12.6
lTota	14,503	14,204	2.1

(1) Growth in Europe primarily relates to the acquisition of Dunn Brothers late in FY 2011.

FY 2011

Sales Volume by Product

()l'000TotaTo'sesnn	FY2012	FY2011	Change()%
()hrdFeSNFSRinrrousec.	5,092	5,416	()6.0
OhedtPrFeocessesrrrou	5,180	4,663	11.1
()keFeBr1ousorrrage	3,597	3,518	2.2
NoFenrrous/dkeTrBrinagorage	586	571	2.6
heOtr	48	36	33.3
lTota	14,503	14,204	2.1

(1) Ferrous brokerage tonnes includes sales associated with SA Recycling JV of 2.2 million in both FY 2012 and FY 2011.

Sales by Destination (Ex-Country of Sourcing)

•Domestic sales refer to sales in country of sourcing

$m	FY2012	FY2011	()ha$Cnge	()haC%nge
SaleResvenue	$9,035.7	$8,846.8	$188.9	2.1
(fEBITDAludedwll adimirmtiexcspaenogoon)bleintaitsngasse	230.2	430.3	()200.1	()46.5
()delyUnEBITDA1inrg	253.2	414.0	()160.8	()38.8
EBIT	()514.8	299.7	()814.5	()271.8
()delyUnEBIT1inrg	123.3	283.4	()160.1	()56.5
NeInExttetrespense	()21.2	()23.9	2.7	11.3
()fTaBeExitxnepense	14.6	()83.7	98.3	117.4
()ffNeLoPrATatittessorx	()$521.4	$192.1	()$713.5	()371.4
()delyffUnNePrATa1intittergorx	$77.0	$182.0	()$105.0	()57.7

(1) Underlying EBITDA, EBIT, NPAT are adjusted for significant items. See schedule of significant items on page 7.

Group Balance Sheet

$m	FY2012	FY2011	()ha$Cnge	()haC%nge
CuAsttsrrense	$1,484.2	$1,766.5	()282.3	()16.0
NoAsttsn-currense	2,135.8	2,413.3	()277.5	()11.5
lTotaAstsse	3,620.0	4,179.8	()559.8	()13.4
blCuLtiaiitierrens	734.2	823.3	()89.1	()10.8
NoBotinn-currenrrowgs	329.9	291.2	38.7	13.3
heblONoLttiaiitiern-currens	161.5	144.8	16.7	11.5
lblToLtaiaiities	1,225.6	1,259.3	()33.7	()2.7
NetAstsse	$2,394.4	$2,920.5	()526.1	()18.0
()()/bbNeDeNeDe+E%ttttityqu	910.	4.1	-	-

Group Cash Flow

$m	FY2012	FY2011	()ha$Cnge
()/fitfoLoPrher tssoeayr	()$521.4	$192.1	()$713.5
djfohAtmtsiteusenr non-casms
dDeciatiotisationpren anamor	129.9	130.6	()0.7
Imf gdwll,PP&E&bleairntiintaitspmeooongasse	615.5	-	615.5
lef jlylledGainointnttsonsaocoroasse	()35.7	-	()35.7
ha-bdSntreasepaymes	24.3	15.7	8.6
Eqdfitfdivdedsduitteetiiveyaccounpros nonrece	13.1	()12.3	25.4
heOtr	()20.	()9.8	9.6
hadliabilitCatetiningiesngeoperasss an	64.1	()157.7	221.8
Nehflowfrot cinatingctivitieasmoperas	$289.6	$158.6	$131.0
foPantr PP&Eymes	()$161.1	()$142.8	()$18.3
f sbsdiaf chdPantuisitioiriet ouirymes on acqnsous,neasacqe	()82.2	()105.8	23.6
fohefinl aPanttciaetmesr oansssyr	()1.5	()28.3	26.8
hirdLotottyetanapar, n	()13.8	()6.9	()6.9
dsfrolef PP&PrEoceemsao	6.6	3.9	2.7
Prdsfrolef ohefinl atciaetoceemsaoransss	0.4	54.8	()54.4
dfoLotontintt iiatananpaymer aneresn an assoce	()131.3	-	()131.3
dsfrolef jlylledProintnttsoceemsaocoroasse	40.0	-	40.0
Ref clfrolylledtuitajointnttitiesrnoapmcoroen	0.3	-	0.3
hflowfroNet ctinvtintivitiasoumesgaces	()$342.6	()$225.1	()$117.5
hflowfroNe&t ctatinginstingctivitieasousmoperveas	()$53.0	()$66.5	$13.5

North America Results

	FY2012	FY2011	()haC%nge
()le$mSaResvenue	$6,027.0	$5,993.0	0.6
()($mludefdwll adEBITDAimirmticsoooexpaengn)()ble1intaitsngasse	26.8	196.9	()86.4
()()dely$mUnEBITDA2inrg	73.8	200.3	()63.2
Deiatioprecn	()52.5	()56.3	6.8
()()$mEBITA1	()25.7	140.6	()118.3
()()$mUndelyEBITA2inrg	21.3	144.0	()85.2
dwllbleGo&InAsImitaitirmtongsepaen	()569.1	-	-
fbleAmIntisatiotaiornongs	()24.1	()26.0	7.3
()()$mEBIT1	()618.9	114.6	()640.1
()()$mUndelyEBIT2inrg	()2.8	118.0	()102.4
()$mAstsse	$2,066.3	$2,656.0	()22.2
loyEmpees	3,693	3,503	5.4
()SaleMa%insrg	11.7	12.8	-

(1) Excludes unallocated Group Corporate costs.

(2) Underlying EBITDA, EBITA and EBIT are adjusted for significant items. See schedule of significant items on page 7.

Australasia Results

	FY2012	FY2011	()haC%nge
()le$mSaResvenue	$1,228.1	$1,369.2	()10.3
()()()$mludefdwllEBITDAimirmti1csoooexpaeng	130.4	108.7	20.0
()()$mdely2UnEBITDAinrg	100.0	110.3	()9.3
Deiatioprecn	()24.1	()21.4	()12.6
()()$mEBITA1	106.3	87.3	21.8
()()$mdely2UninEBITAgr	75.9	88.9	()14.6
dwGollImiirmtopaen	()3.6	-	-
fbleAmIntisatiotaiornongs	()80.	()30.	()66.17
()()$mEBIT1	101.9	87.0	17.1
()()dely$mUnEBIT2inrg	75.1	88.6	()15.2
()$mAstsse	$733.0	$633.0	15.8
loyEmpees	1,006	942	6.8
()leSaMa%insrg	21.1	22.1	-

(1) Excludes unallocated Group Corporate costs.

(2) Underlying EBITDA, EBITA and EBIT are adjusted for significant items. See schedule of significant items on page 7.

Europe Results

	FY2012	FY2011	()Cha%nge
()$mSaleResvenue	$1,780.6	$1,484.6	19.9
()()$mludefdwllEBITDAimirmtiexcspaenogoo	78.1	126.4	()38.2
()dely$mUnEBITDAin*rg	84.5	116.1	()27.2
Deiatioprecn	()26.0	()24.1	()7.9
()$mEBITA	52.1	102.3	()49.1
()$mdelyUninEBITA*rg	58.5	92.0	()36.4
dwllGoImiirmtopaen	()42.4	-	-
fbleAmIntisatiotaiornongs	()91.	()2.1	9.5
()$mEBIT	7.8	100.2	()92.2
()$mUndelyEBITin*rg	56.6	89.9	()37.0
()$mAstsse	$820.7	$890.8	()7.9
loyEmpees	1,900	1,727	10.0
()leSaMa%insrg	260.	24.7	-

*Underlying EBITDA, EBITA and EBIT are adjusted to significant items. See schedule of significant items on page 7.