Sandfire Resources (SFR) Status update summary

Board and Governance Transformation

• Board expanded with directors bringing international, safety, and ESG expertise, and includes a diverse mix of independent non-executive directors and executives.

• Dedicated Sustainability Committee established in January 2025, meeting five times in CY25, with oversight of safety, biodiversity, climate change, and human rights.

• Governance framework emphasizes inclusivity, diversity, collective responsibility, and regular review of structures to align with strategy.

• Executive leadership team includes roles for sustainability, people, operations, finance, and legal compliance.

• Stability in board composition since September 2023 ensures continuity and deep institutional knowledge.

Safety and Risk Management

• Recent fatality at MATSA in February 2026 prompted emergency protocols, formal investigation, and renewed focus on safety culture.

• Group total recordable injury frequency reduced by 70% over four years, now at 1.3, reflecting ongoing safety improvements.

• Increased reporting of high potential incidents and proactive risk identification.

• Safety leadership includes visible field presence, consequence management, and a 'speak up' culture, with forward-looking safety metrics for incentives.

• Track both lagging (injury rates, high potential incidents) and leading (action close-outs, field observations) safety indicators, with monthly forums and principal hazard programs.

Sustainability Framework and Targets

• Six sustainability pillars: communities, people, water, climate change, biodiversity, and business integrity.

• Over 70% of electricity sourced from renewables in FY26, exceeding the 2030 target of 50%; solar projects underway.

• Targets include 35% reduction in Scope 1 and 2 emissions by FY35 and net zero by 2050.

• Achieved and maintained 40/40/20 gender diversity at board and executive levels, with female employment rates above industry norms.

• 0.5% of EBITDA allocated annually to strategic community investment.