Sheffield Resources Investor Presentation

Highlights:

CORE ASSET:

• Thunderbird Mineral Sands Mine (50% interest)
  • Production commenced, ramp up underway
  • A$75m cash & undrawn facilities at the start of 2024
  • On target for first bulk customer deliveries in Q1 2024, first shipment in bags completed
  • Stage 1 NPV8 $842m1 Sheffield share $421m – c.100% above current market capitalisation

KMS GROWTH:

• Enhance KMS through
  • Thunderbird Stage 2, incremental NPV8 of $548m1
  • Additional zones of mineralisation along a 120 km trend
  • East Derby construction sand opportunity

SOUTH ATLANTIC:

• South Atlantic Option
  • Exploration Target ranging between 500 to 720Mt at 3.2 to 4.0% HM2
  • Exploration Targets comprising sulfate ilmenite and zircon
  • Option Agreement executed with US$2.5m contribution to fund de-risking activities

FUTURE GROWTH:

• Review of other quality mineral sands opportunities
  • Targeting advanced projects with potential to unlock value by applying Sheffield’s mineral sands and funding experience