PROMINENT HILL DELIVERING TODAY’S PLAN AND INCREASING TOMORROW’S VALUE

Inventory replacement Continue asset optimisationUnderground production ramp up to 3.5-4Mtpa*

⁄ Delineation drilling campaign to replace FY17-18 underground mining inventory nearing completion with no material changes to current mineralisation interpretation

⁄ 43 resource delineation (~10,900 metres) and 79 grade control (~15,600 metres) diamond drill holes completed since 2017 Mineral Resource update

⁄ Utilising pit ramp as drill platform to reduce drill metres and improve angle intercepts

⁄ Data to be processed and included in 2018 Mineral Resource Update

⁄ Design refinement to follow on new information and included in 2018 Ore Reserve update

⁄ View towards maintaining 10+ year mine life

⁄ Procurement process underway for Malu UG backfill plant and eastern primary fans

⁄ Rehandle into large surface fleet to commence in coming months to further increase efficiencies

⁄ Processing plant to remain at full capacity whilst processing higher grade underground ore and stockpiled open pit ore until mid-2023

⁄ Internal mining study undertaken aimed at identifying the potential of a higher value mine plan by leveraging all known mineralisation as additional mining fronts (majority i.e. 85% of material considered was inferred)

⁄ Two stage study investigating large range of design cut offs, extraction methodology, combinations of mining areas and haulage options

⁄ High level first pass to analyse value trends, generated ~80,000 scenarios

⁄ Second pass narrowed from ~30 to 4 indicative options for future investigation

⁄ Pathway identified to increase confidence in selected scenarios (subject to work program finalisation and internal funding approvals):

⁄ Staged further drilling at depth to confirm interpretations

⁄ Parallel haulage options investigation

⁄ Increase efficiency of existing plan

⁄ Identify opportunities for future growth

⁄ Realise value from resource synergies

⁄ Leverage existing expertise and infrastructure

⁄ Breakthrough of third portal lower in Open Pit complete

⁄ Establishment of three production areas underway, each to have independent ventilation systems and haulage routes

Existing Stopes and Declines

Looking NNW

Planned StopesInferred Mineral

Resources

Diamond Drilling from ramp in east of pit.

Liru DeclineReturn Air Exhaust

Ankata Decline

Fresh Air Intake

Malu Decline

Looking NNE

Existing Stopes and Declines

Planned Stopes

Planned Declines

Liru Decline Ankata Decline

Malu Decline East Decline

East MaluWest Malu

Ankata

0.00.51.01.52.02.53.03.54.04.5

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Mt o

f Ore

Actual Forecast

Underground production ramp up*

Prominent Hill processing profile**

2018 20242019 2020 2021 2022 2023

3.5–4.0Mt

9–10Mt

To 2029

Copper Stockpiles

Ore Reserve as at 30/6/17

12Mt @ 0.8% Cu, 0.4 g/t Au, 2 g/t Ag

Gold Stockpiles

Ore Reserve as at 30/6/17

15Mt @ 0.1% Cu, 0.8 g/t Au, 2 g/t Ag

Underground Ore Treatment

Ore Reserve as at 30/6/17

39Mt @ 1.4% Cu, 0.6 g/t Au, 3 g/t Ag

Reduction in plant capacity from 10Mtpa to 4Mtpa

Capital cost ~$5 millionOperating cost ~$15/t

Stockpile processing with no associated open pit mining

costs or fixed overheads

UG Ramp Up

OP

Ore

Tre

atm

ent

Plant Capacity

Chart not to scale

Drilling programs to continue Resource to Reserve conversion~ 90% of UG mining inventory currently in Reserve

* These production targets must be read in conjunction with the production cautionary statement on slide 3 of the Strategy Day 2018 ASX Release, dated 30 May 2018** Please read in conjunction with the Prominent Hill Mineral Resource and Ore Reserve compliance statement on slide 3 of the Strategy Day 2018 ASX Release, dated 30 May 2018

Proposed Further Drilling

• ~500 metres of development

• ~ 6,000 metres of diamond drilling

CARRAPATEENA – NEW MINE AND PROVINCE POTENTIAL On time project delivery

LIFE OF PROVINCE PLAN REVIEW UNDERWAY

⁄ Regional mineralisation:

⁄ Carrapateena (JORC Resource)⁄ Fremantle Doctor⁄ Khamsin⁄ Punt Hill⁄ Other province exploration targets

⁄ Mining methods:⁄ Sub Level Cave⁄ Block Cave⁄ Sub Level Open Stopes

⁄ Testing:⁄ Production rate, cut off grade, capital and operating costs as

inputs into Hill of Value analysis⁄ Site infrastructure requirements

⁄ Regional infrastructure capacity

⁄ Progression to Scoping Study expected by 2019

DECLINE DEVELOPMENT

⁄ Progressed through most challenging shale material

WATER

⁄ Successful water exploration program

⁄ Sufficient water identified to meet anticipated demand

WESTERN INFRASTRUCTURE CORRIDOR

⁄ ElectraNet awarded contract for construction of powerline

⁄ Fibre link installation underway - on track for November 2018 step change in site connectivity

General Manager -Operations

Myles Johnston

Deputy General Manager

Jack Dermody

Mine ManagerJohn Lean

Downer General Manager

Mark Roderick

Downer Operations Manager

James Glover

Downer Mining SuperintendentJason Dswonitzky

Processing ManagerJoe Seppelt

Maintenance ManagerPaul Barac

Integrated Planning Manager

Andrew Mooney

Principal Engineer

Rod Hocking

Geotechnical Superintendent

Glen Balog

Lead Geologist Heather Pearce

Operational readiness advancing

Cave flow monitoring

Indicative cave back propagation

Carrapateena design site layout

Province planning underway

Carrapateena actual site

MINING AND OPERATIONS

⁄ Transition underway to the OZ / Downer EDI Mining Alliance

⁄ Simplified mine design and ongoing optimisation of schedule to support operational delivery

⁄ Integrated UG Mining and UG Infrastructure team

⁄ Key Operational Manager roles recruited – extensive caving experience

AIRSTRIP

⁄ On schedule for flights in July

PROCESSING PLANT AND NON-PROCESS INFRASTRUCTURE

⁄ Long lead items ordered

⁄ Detailed design progressing

⁄ Plant bulk earthworks underway

TAILINGS STORAGE FACILITY

⁄ Detailed design to be complete early June

⁄ Commencing discussions with Contractor to execute scope mid-June

ADDITIONAL GEOTECHNICAL DRILLING⁄ Independent review and logging of core⁄ Cover drill holes for raise bores, underground chambers and

cave cover sequence⁄ Updated geotechnical stress information to better inform

cave modelling⁄ Ability to refine mine design prior to reaching orebody

CAVE MANAGEMENT⁄ Updated cave flow modelling with new data⁄ Defined cave management strategy and monitoring plan

equipment⁄ Additional cave flow modelling and pre-production test work

underway⁄ Management of potential fines dilution from soft cover

sequence being improved

CAVE REVIEW BOARD⁄ Independent technical review and guidance⁄ Supports safe and efficient cave operations⁄ Every quarter through project phase and into operations

2017 Ore Reserve SLC footprint

Mineralised Hematite Breccia*

LEGEND

Classification Tonnes(Mt)

Cu(%)

Au(g/t)

Ag(g/t)

Cu(Kt)

Au(Koz)

Ag(Moz)

Proved 0 0 0 0 0 0 0Probable 79 1.8 0.7 8.5 1,400 1,800 22Total 79 1.8 0.7 8.5 1,400 1,800 22

Carrapateena Ore Reserve estimate August 2017 (at A$90/t NSR cut-off)*

* Please read in conjunction with the Carrapateena Mineral Resource and Ore Reserve compliance statement on slide 4 of the Strategy Day 2018 ASX release, dated 30 May 2018

Wireframes showing interpreted limits of the hematite brecciaCarrapateena SLC mine design layout

Carrapateena geophysical

Exploration tenements

Deputy Project Director

Rob Gerrard

Commercial Manager

Kenneth HoggQCLNG ProjectGLNG ProjectAPLNG ProjectEagle Downs

Roy HillAdaniFMGTelfer

Ichthys LNG ProjectGorgon LNG ProjectPluto LNG Project

Ichthys LNG ProjectQCLNG ProjectGLNG Project

Roy HillCadia East

Kestrel Mine Extension

Mako Gold ProjectPanama Copper/Gold

ProjectYandi

Project DirectorDavid Gallery

Surface Construction Manager

Archie Ferguson

Processing Plant and NPI

Ben Baade

Underground Infrastructure

Peter Burns

Project Controls Ron Hasting

BHP Olympic DamFMG Chichester HubRio Tinto Nammuldi

Mount IsaErnest Henry SLC

Dugald River

Cadia East BCRidgeway BC

Telfer SLC

Cadia ValleyOlympic Dam

Prominent HillArrium

Cadia East BCPalabora

Olympic Dam

Northparkes

Cadia East BCTelfer SLC

Las Bambas

Cadia East BCRidgeway BC

Wafi-Golpu BCNorthparkes

Telfer SLC

Mount Gordon

SLC

Telfer SLCDugald River

WEST MUSGRAVE – SOLID BASE CASE AND PROVINCE OPPORTUNITYPre-Feasibility Study activity Province exploration potential Adding value through project development

⁄ Nebo and Babel deposits primary focus with copper and nickel mineralisation

⁄ Resource infill drilling to extend mine life and upgrade the mineral resource

⁄ Additional metallurgical test work

⁄ Environmental surveys for mine permitting

⁄ Groundwater investigations

⁄ Renewable energy baseline data collection

⁄ Consultation with key stakeholder groups

⁄ Additional exploration targets

⁄ Further Scoping Study delivered positive economic outcomes for a

large, low cost mine

⁄ Mining rate of 10+Mtpa with initial eight year mine life*

⁄ Capex cost estimate $730-800 million, project payback in 3-4 years

⁄ Average annual production:

⁄ 25-30ktpa copper contained in sulphide concentrate*

⁄ 20-25ktpa nickel contained in sulphide concentrate*

⁄ Cash costs forecast to be at the lowest end of the range of Australian

nickel and copper producers

^ Seconded from OZ Minerals

Expected project timeline

Drill rig at West Musgrave

Metallurgical drilling

⁄ Further near mine and district opportunities

⁄ Mineralised trend extends over 40km

⁄ Succoth Deposit copper Resource

⁄ Exploration targets at: One Tree Hill, Yappsu, Suez, Babylon, Esagila

West Musgrave Project Director

ExplorationManager

Senior Geologist

Technical Specialist

Geophysical Consultant

Project Geologist^

Logistics Officer

GIS Analyst/ Database Analyst

Field Personnel - Field Geologists- Field Technicians- Paramedic/ HSEC

Metallurgist Lead

Metallurgical Consultancy

Resource Geologist

Lead

Community and Heritage

Lead

EnvironmentApprovals

Lead

WaterConsultancy

EnvironmentalConsultancy

West Australian Government

Deputy Director

Joint Venture CommitteeCassini and OZ Minerals

Wind mast* The information regarding the West Musgrave Project is extracted from Cassini Resources’ ASX Release entitled ‘Positive OZ Minerals Decision & Scoping Study Results’ dated 14 November 2017 and is available at www.cassiniresources.com.au/investor-relations/asx-announcements . OZ Minerals is not aware of any new information or data that materially affects the information included in that announcement. OZ Minerals confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from that announcement.

*

EXPLORATION AND GROWTH – BUILDING THE OPPORTUNITY PIPELINE

Organisation Structure ⁄ Dedicated teams with distinct aptitude focusing on strategic initiatives across the full exploration and growth pipeline

⁄ Identify, assess and actively pursue the acquisition of multiple value accretive growth assets which are consistent with OZ Minerals’ strategy

⁄ Distinct teams provide agility to deliver during periods of high workflow

Richard HolmesHead of Exploration & Growth

Jared Jacob Group Manager M&A

Mark Irwin Chief Commercial Officer

Exploration & Growth Inorganic GrowthJoint Venture earn-ins, in-house exploration

Dedicated team focused on copper and base metals

Exploration – feeding the growth pipeline

Global exploration sites

Seek value accretive acquisitions and exploration opportunities⁄ Opportunities aligned to strategy, that meet rigorous investment hurdles and are value accretive

⁄ Consider geopolitical conditions, style of mineralisation, copper focus but also base metals

⁄ Province optimisation potential, copper-rich provinces where initial or existing developments work as a hub for wider extraction opportunities

⁄ Exploration approach generally earn-ins with experienced explorers

⁄ Exploration pipeline is churned, adding new ventures and quickly ceasing those that do not meet expectations

EXPLORATION DRILLING UNDERWAY

Infill EM results and J1 drilling (Complete, awaiting assays)

Complete

Ongoing

Regional targets from EM(Forward program to July)

Wide-spaced testing of J3(Initial Alteration Vectoring)

⁄ Targeting Eloise style massive sulphides in partnership with Minotaur Exploration⁄ 60km southeast of Cloncurry, Queensland⁄ OZ Minerals acquired a 51% interest in Q1 2018 and can earn up to 70% with an additional $5 million spend⁄ ~5,000m drill program commenced April 2018

Eloise

Eloise core samples

⁄ Targeting IOCG mineralisation in partnership with Avrupa Minerals ⁄ $1 million required spend by July 2018 for 51% earn-in, additional $3 million spend by Q3 2019 for 75%⁄ ~100km south east of Lisbon in the famed Iberian pyrite belt⁄ Drilling commenced April 2018 - 2,100m drill program in 2018 consists of 15 holes⁄ Testing a variety of target types based on geochemistry, geophysics, geologic mapping of rock types/contacts and structure⁄ Good correlation between collected geophysics and geologic float mapping (mapping completed between June and

November 2017)

Alvito

Alvito core samples Gossan samples

Gravity survey