SIMS LIMITED — Investor Presentation 2014

Apr 30, 2014

Sims Metal Management Analyst and Investor Site Tour North America Metals – New England & East Regions

April 30 & May 1, 2014

Disclaimer

Cautionary Statements Regarding Forward-Looking Information

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 20-F, which we filed with the SEC on 16 October 2013.

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 presentation 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.

All references to currencies, unless otherwise stated, reflect measures in Australian dollars.

Agenda

• Sims Metal Management North America Overview

• Economic Update & Key Earnings Drivers

• US Metals Recycling Overview & Competitive Landscape

• Global Markets & Trading

• Summary

North America Reporting Segment

Sims Metal Management North America

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North America North America
Metals Recycling SRS
North America Revenue
~85 facilities & 10 deep water
North America Metals FY13 (A$m)
export docks across 20 states
273
50% JV with Adams Steel
SA Recycling
~50 facilities across Southern
(50% JV)
CA, NV, and AZ
New York City municipal
Sims Municipal Recycling
recycling operations
4,262
North America Metals
North America SRS
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North America Metals

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Bob Kelman
President
North America Metals
NAM East NAM New England
NY, NJ, and PA CT, RI, and MA
NAM Southeast NAM West
VA and NC CA, NV, UT, and BC
NAM Central NAM South
IL, IN, MI and OH TN, AR, and MS
NAM Southwest Bulk Stainless
TX and OK NJ, IL, and AR
Ferrous Trading NYC Municipal
North America Recycling
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North America Metals Footprint

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WA ME
VT
MT
ND
MN NH
NY
OR MA
WI
ID SD
MI RI
WY CT
PA
CA IA NJ
NV NB OH
IL IN MD DE
UT WV VA
CO MO
KS KY
NC North America [1] (FY13)
TN Sales Revenue A$4,535m
OK SC
AZ NM AR
EBITDA (statutory) A$46m
AL GA
MS EBITDA (underlying) A$104m
LA EBIT (statutory) (A$315m)
Shedder TX
Yard FL EBIT (underlying) A$37m
SAR JV Shredder Sales Volumes 9.38Mt
SAR JV Yard
Assets A$1,660m
Employees (ex JV’s) 3,618
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Largest Metals Recycler in the US

Over 130 facilities and 18 shredders across North America (including JV operations)

1) North America total including SRS, 2) 50% JV Richmond Steel Recycling in British Columbia, Canada not shown

Development of North America Metals

1998: Entered the US metals recycling market through the acquisition of LMC Corporation in California

Jun-07: Formed 50% Jul-09: Acquired JV with Adams Steel Fairless Iron & Metal, to create SA Recycling a full service metal based in southern recycler located on the California East Coast of the US

Jul & Aug-13: Divested non-core metals recycling assets in Birmingham, AL, and US based Aerospace Metals

Oct-05: Merged

recycling operations with Hugo Neu, providing a significant presence in the US, particularly in NJ, NY, and southern CA

Mar-08: Acquired Metal Management, one of the largest metal recyclers in the US with operations in 17 states

Sep & Dec-12: Divested several noncore metals recycling assets located in AZ, CO, and Nashville, TN

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10,000
Sales Revenue by Region
8,000
6,000
4,000
2,000
0
FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13
North America Australasia Europe
A$m
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Currently the smallest earnings contributor

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EBIT by Region EBIT by Region
FY08 HY14
10%
13% 17%
Peak to present earnings
29%
58%
73%
North America Australasia Europe North America Australasia Europe
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North America is currently the smallest earnings contributor, and represents the largest upside potential

Agenda

• Sims Metal Management North America Overview

• Economic Update & Key Earnings Drivers

• US Metals Recycling Overview & Competitive Landscape

• Global Markets & Trading

• Summary

Economic Update

Continued weak metal scrapping rates and poor material mix are the key issues

• Per capita total ferrous scrap generation below long-term average

• Relative total industry processed tonnage has improved, but mix is poor

Vehicle & Appliance scrap generation per capita at 15 year lows

• Low consumer confidence, relative to past levels, keeping consumer goods from disposal

• Recovery to long-term auto & appliance scrapping rates would boost shredder intake by at least 10%

US scrap reservoir continues to build as cars, appliances, and infrastructure ages

• Over 120 million vehicles now over 11 years old, up 21% since 2008

• Average age of household appliances has increased 10% since 2007

Improving leading indicators are encouraging

• US new light vehicle sales recovering, with vehicle scrapping still lagging

• US new home sales and appliance shipments improving off low post recession levels

Total scrap metal generation still low

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Total US ferrous scrap generation
120 Mt 120%
Ferrous scrap processed
Ferrous scrap landfilled
100 100%
Recycling rate (RHS)
80 80%
60 60%
40 40%
20 20%
0 0%
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• Higher recycling rates, as a percentage of discarded scrap metal, have supported processed ferrous scrap volumes

� The mix of scrap metal available for shredding is of a lower quality, with low consumer confidence suppressing auto & appliance disposal rates

Source: USGS, SRI, Sims Metal Management

Material flows for shredding inadequate

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Auto & Appliance as % of total scrap Consumer Confidence (RHS)
35% 160
140
30%
120
100
25%
80
20%
60
40
15%
20
10% 0
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Historically low consumer confidence suppressing auto & appliance disposal volumes

Source: Polk, AHAM, USGS, Conference Board, Sims Metal Management

Consumer scrap generation near 15 yr lows

Vehicles & Appliances ferrous scrap metal generation

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65 kg per capita
60
Long-Term Avg
55
50
45
40
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• 2008-09 recession had significant impact on the consumer goods replacement cycle

• Continued low consumer confidence

• High unemployment, low labour participation, and weak mortgage lending, relative to past levels, is keeping aging consumer goods in the scrap reservoir

Return to long-term auto & appliance per capita scrapping would boost shredder feedstock by at least 10%

Source: Polk, AHAM, US Census, USGS, Sims Metal Management

Low scrapping lifting average vehicle age

Rising age of vehicles

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130 55%
120 Number of vehicles over 11 years old
50% up 21% since 2008
110
45%
100
90
40%
�
Over 120 million vehicles over 11 years old
80
�
74% of all vehicles scrapped are between 11
35%
70 and 23 years old [1]
� Increasing vehicle age, cited by auto
60 30%
insurance consultant CCC, as a leading
# vehicles over 11 years % vehicles over 11 years (RHS) cause of higher ‘total loss frequency’ claims
Source: Polk, DOT, Sims Metal Management 1 Source: Citi Research
% of total vehicles in use
US vehicles in use (millions)
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US household appliances also aging

Average age of Household Appliances

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5.5
5.4 Average age of household appliances now
the highest in 70 years
5.3
5.2
5.1
5.0 Life expectancy of household appliances
Dishwashers 9 years
4.9
Dryers 13 years
4.8 Freezers 11 years
Range (electric) 13 years
4.7
Refrigerators 13 years
4.6 Washers 10 years
Water Heaters 10 years
4.5
years
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Source: BEA

Source: Appliance Magazine

As well as non-residential fixed assets

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Average age of Government Fixed Assets
�
Government fixed asset infrastructure
26 20 advancing in age and will require renewal in
26 coming years
25 19 � Private non-residential fixed asset aging had
25 also increased since 2008, as capital
24 18 spending and investment declined
24
Average age of Private Non-Residential Fixed Assets
23 17
6.5
23 6.0
5.5
22 16
5.0
22
4.5
21 15 4.0
Power Highways and streets Transportation (RHS) Equipment Structures (RHS)
Source: BEA
years
years
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Average age of Private Non-Residential Fixed Assets

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6.5 12.5
6.0 12.0
5.5 11.5
5.0 11.0
4.5 10.5
4.0 10.0
Equipment Structures (RHS)
years
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Improving leading indicators encouraging

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Consumer Confidence
160
�
140 Consumer confidence rising, but remains
120
below long-term levels
100 long-term avg
80
�
Vehicle scrapping historically follows at a lag
60
40 to new vehicle sales
20
0
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• Vehicle scrapping historically follows at a lag to new vehicle sales

• US new home sales and appliance shipments improving off low post recession levels

Source: Conference Board

US New Vehicle Sales and Vehicle Scrapping

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18
million units
16
14
12
10
8 New light vehicle sales
Vehicles scrapped
6
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US Appliance Shipments

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25,000
US$m
22,500
20,000
17,500
15,000
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Source: Conference Board, BEA, Polk

Source: US Census

Agenda

• Sims Metal Management North America Overview

• Economic Update & Key Earnings Drivers

• US Metals Recycling Overview & Competitive Landscape

• Global Markets & Trading

• Summary

World’s largest source of scrap supply

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80 US processed scrap by commodity Global ferrous scrap processed
2012 2012
70.0
70
70Mt
60
Largest scrap market in the world
50
~20% of global ferrous scrap
40
30
300Mt
20
10
5.5 United States
2.0 Rest Of World
0
Ferrous (Steel) Aluminium Copper
Source: USGS, calculated as consumption – recirculating scrap + exports - imports Source: USGS, BIR, excludes home scrap
Million tonnes
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US metals recycling industry footprint

US Metals Recycling Industry Footprint US Metals Recycling Market Share

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Sims North
America
14%
Steel
Dynamics /
Omnisource
9%
Other
49% Schnitzer
7%
DJJ
5%
Ferrous
Processing
& Trading
Metalico
CMC 4%
1%
Processors PSC Metals 3% Alter
Trading
2% EMR (USA)
4%
2%
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Source: ISRI, 2013

Source: Recycling Today, USGS, Company Data

Ferrous sources of supply

Key sources of ferrous scrap supply

		Steel Cans Stainless	Steel Cans Stainless					Post Industrial		%
Other Steel Scrap Motor blocks Railroad rails Steel				Post Industrial				Stampings & clippings Borings & turnings Other		12-14% 3-5% 1-3%
Other light								Total		~20%
iron
								Obsolete Material		%
								Construction & demolition		25-35%
Major appliances								Passenger vehicles		15-25%
								Major appliances		5-10%
				Construction				Other light iron		5-10%
					&			Railroad rails		1%
	Passenger vehicles			Demolition				Steel cans		1%
								Stainless steel		3-5%
								Other steel scrap		15-20%
								Total		~80%

Source: USGS, EPA, Polk, Sims Metal Management

Ferrous processing and processed grades

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Unprocessed Supply Processing Method Processed Grades
Post Industrial
Stampings & clippings #1 and #2 Busheling
Baling & Bundling
Borings & turnings #1 and #2 Bundles
Obsolete Material
Passenger vehicles
Major appliances Shredding Shredded Scrap
Other light iron
Construction & demolition #1 and #2 Heavy Melt Steel
Shearing & Torching
Railroad rails Plate and Structural
Steel cans
Baling, Shearing,
Stainless steel Other
Densifying, and Other
Other steel scrap
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Processed ferrous grades and prices

Key ferrous scrap grades % of production

Ferrous scrap prices

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Stainless Other
Steel 14%
2%
Turnings, Shredded
Turnings &
Boring, 33%
Borings
Punch
6%
6%
Cut
Plate &
Structural &
Structural
Plate
7%
7%
Bundles &
Busheling
11%
HMS 1&2
27%
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600
US$/t
500
400
300
200
100
0
#1 Busheling - US Midwest
Shredded Scrap - US Midwest
#1 HMS - US Midwest
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Source: USGS 2011

Source: AMM

Industry shredding capacity slowly declining

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60 20%
Shredding capacity year-on-year change
Million gross tonnes per annum [1] in total capacity
50 15%
40 10%
30 5%
20 0%
10 -5%
0 -10%
Total Capacity YoY Change (RHS)
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Shredder capacity rationalisation just beginning

1) Shredding capacity of unprocessed feedstock material Source: AMM, Recycling Today, Company Data

Agenda

• Sims Metal Management North America Overview

• Economic Update & Key Earnings Drivers

• US Metals Recycling Overview & Competitive Landscape

• Global Markets & Trading

• Summary

Global trade in ferrous scrap metal

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Global Ferrous Exports by Country
2012 (Mt)
United
States
21.4
Other
31.2
Japan
8.6
Australia
2.2
Germany
Belgium
8.9
3.5
Canada
United
4.2
Russia Kingdom
4.3 Netherlands France 7.3
4.8 6.1
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Global Ferrous Imports by Country
2012 (Mt)
Turkey
22.4
Other
31.2
South Korea
10.1
United
States
3.7 India
Belgium 8.1
4.1
Germany
Spain Taiwan China Italy 5.5
4.3 5.0 5.0 5.3
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Leading global market positions across largest scrap exporting countries

Global reach and relationships across largest scrap importing countries

Source: WSA

Global trading of ferrous scrap

Sims Metal Management Metals Recycling Operations Key Export Market Global Trade Office

Agenda

• Sims Metal Management North America Overview

• Economic Update & Key Earnings Drivers

• US Metals Recycling Overview & Competitive Landscape

• Global Markets & Trading

• Summary

Summary

The US metals recycling industry has faced challenges before

• Highly cyclical industry with booms, busts, and recoveries – last downturn in late 1990’s

• North America currently the smallest earnings contributor, but with the largest upside

Low material generation and poor composition of material are the key issues

• Consumer scrap generation near 15 year lows

• Recovery to long-term auto & appliance recycling rates would boost shredder intake by at least 10%

Leading economic indicators improving, but inflection point has not yet been reached

• Consumer confidence, new vehicle and appliance sales improving, but still low

• Higher consumer confidence will drive stronger scrap metal generation

Early signs of industry rationalization

• US metal shredding capacity slowly declining since 2012

• Emerging indications of market consolidation expected to improve industry health over time

Sims Metal Management North America Metals - New England Region

April 30, 2014

Safety Overview

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4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
FY10 FY11 FY12 FY13 FY14
Rec Freq Rate Lost Day Rate NA Freq Rate
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Safety

• Incident rates for the New England based facilities have consistently been lower than North America Metals as a whole since its inception

• Rates continue to stay low despite regional growth and integrating new employees into the culture

• The Region continues to promote more line employee involvement into the SHEC process in order to increase ownership and buy in

New England Metals Recycling Footprint

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New Haven
120 mile radius from shredder
Yard & Shedder
Yard
Deep Water Port
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• Located in the densely populated scrap generating North East, encompassing large metropolitan regions of Boston MA, Providence RI, and Hartford CT

• Total catchment area of over 12 million people, and GDP of over US$680 billion per annum, across MA, RI, and CT[1]

• 6 facilities across the region

• 2 yards with shredders located in Johnston RI, and North Haven CT, and 3 feeder yards

• Wholly-owned deep water export terminal located in port of Providence RI

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1) Source: BEA
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Johnston, Rhode Island

• Commenced operations in December 2013

• Operates a large mega shredder

• 10 acre site optimised for inbound and outbound logistics and material handling

• Strategically located on major I-295 highway outside Providence RI, and less than 50 miles from Boston and Worchester MA

• Total catchment area of circa 7.5 million people within a 120 mile radius of Johnston, equal to a total market opportunity of roughly 1.7 to 2.0 million tonnes of ferrous and non-ferrous metal generation per annum[1]

1) Based on 5 year average per capita scrap generation rates

Providence, Rhode Island

Providence – Fields Point

• Commenced operations in August 2013

• 7.5 acre feeder yard with non-ferrous processing, baling, 60,000 sq ft warehouse with loading docks as well as wet car detox

• Excellent transport logistics including rail access

Providence – Export Facility

• Commenced operations in November 2013

• 9 acre wholly-owned facility with a rail-serviced 600ft pier and two-deep water berths

• Low cost ship loading capacity of up to 100,000 tonnes per month

• Scrap processing with mobile shear and torch

North Haven, Connecticut

• Acquired in 1998 by Metals Management

• Purchases and processes industrial and obsolete ferrous & non-ferrous scrap metal and equipped with a mid-sized shredder, shear, torch cutters and wet car detox station

• Operates downstream MRP recovery plant

• Rail serviced yard positioned to service both domestic and export markets

• Feeder yard in nearby New Haven, CT

• Established relationships with US steel mills

• Total catchment area of circa 4.5 million people within a 120 mile radius of North Haven, equal to a total market opportunity of roughly 1.0 to

• 1.2 million tonnes of ferrous and non-ferrous metal generation per annum[1]

1) Based on 5 year average per capita scrap generation rates

Summary

• Expanding processing and exporting footprint for the North America Metals business

• Situated in densely populated and high scrap generating North East, encompassing large metropolitan

regions of Boston MA, Providence RI, and Hartford CT

• Strategic flexibility to service both domestic markets via rail-serviced yards and export markets via low

cost, wholly-owned deep water export terminals

• Focused on providing the highest levels of service to our customers and a zero-harm work environment for our employees

Sims Metal Management North America Metals – East Region

May 1, 2014

Safety Overview

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4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2010 2011 2012 2013 2014
Recordable Rate Lost Time Rate NAM Frequency Rate
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Safety

• Maintaining a ‘zero harm’ working environment is a core value for Sims Metal Management

• 2013 was a difficult year as we dealt with a one serious injury that pushed the RR and LTR up significantly from previous years

• The region is back on track in FY 2014 with new strategies and tactics that have improved results over FY 2013

• After plateauing in 2013, NAM Group rates have declined significantly in the YTD period.

East Region Metals Recycling Footprint

• Located in the densely populated US east coast encompassing the cities of New York NY, Newark-Jersey City NJ, and Philadelphia PA

• Total catchment area of over 30 million people, and a GDP of US$1,700 billion per annum, across the greater New York City & Philadelphia metropolitan areas[1]

• 18 facilities across the region

• 2 yards with shredders located in Jersey City NJ, and Morrisville PA

• Network of 16 feeder yards

• 5 deep water docks with export capabilities

120 mile radius from shredder

1) Source: BEA

Yard & Shedder Yard Deep Water Port

Claremont Terminal, Jersey City NJ

• Largest full service facility in the North America Metals portfolio, equipped with a large shredder, baler, shears, torch cutters, and wet car detox station

• Downstream MRP recovery system

• Strategically positioned near main transport arteries, with rail service, barge loading, and deep water export dock facilities onsite

• Total catchment area of circa 23 million people across the greater New York City, NewarkJersey City metropolitan area, equal to a total market opportunity of roughly 5.3 to 6.0 million tonnes of ferrous and non-ferrous metal generation per annum[1]

Claremont Terminal, Jersey City, NJ

1) Based on 5 year average per capita scrap generation rates

Fairless, Morrisville PA

• Acquired in 2009

• Equipped with a large shredder, shears, torch cutters, and wet car detox station

• Downstream MRP recovery system

• Deep water export dock

• Supported by network of 5 feeder yards and strong dealer supplier relationships

• Total catchment area of circa 7 million people across Philadelphia metropolitan area, equal to a total market opportunity of roughly 1.6 to 1.8 million tonnes of ferrous and non-ferrous metal generation per annum[1]

Morrisville PA, Yard & Shredder

1) Based on 5 year average per capita scrap generation rates

Summary

• Leading market share in the densely populated and high scrap generating US East Coast,

encompassing the largest urban metropolitan areas in the United States including New York City NY, Newark-Jersey City NJ, and Philadelphia PA

• Highly complementary eco-system of feeder yards, large scale processing centers, and low cost barge

• transport network around the New York Metro area

• Advanced downstream non-ferrous recovery system coverage for all shredded material

• Highly talented and dedicated workforce

• Multiple deep water export dock facilities

• Access to critical market intelligence through Sims Metal Management’s Global Trade division