SITE VISIT 15 & 16 MAY 2014 WWW.OZMINERALS.COM DISCLAIMERS - - PowerPoint PPT Presentation

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OZ MINERALS PROMINENT HILL SITE VISIT

15 & 16 MAY 2014

WWW.OZMINERALS.COM

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OZ MINERALS • PAGE 2

This presentation has been prepared by OZ Minerals Limited (“OZ Minerals”) and consists of written materials/slides for a presentation concerning OZ Minerals. By reviewing/attending this presentation, you agree to be bound by the following conditions. No representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information, contained in the presentation or of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission therefrom, or otherwise arising in connection with it. Some statements in this presentation are forward-looking statements within the meaning of the US securities laws. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside OZ Minerals’ control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities, such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the

• presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not

undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in OZ Mineral’s expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based. Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. All figures are expressed in Australian dollars unless stated otherwise.

DISCLAIMERS

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OZ MINERALS • PAGE 3

DISCLAIMERS CONTINUED:

Production Outlook a) The information that relates to Prominent Hill future production outlook (on pages 11 and 12) is extracted from the report entitled “Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013” released to the market on 11 December 2013 (‘PHRR’) and is available to view on ww.ozminerals.com/operations/resources-- reserves.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the PHRR and that all material assumptions and technical parameters underpinning the estimates in the PHRR continue to apply and have not materially changed. b) The production target for Malu Underground (on pages 11, 12, 56 and 58) is based on the Company’s current expectations of future results or events and should not be solely relied upon by investors when making investment

• decisions. It is based on the Company’s current understanding of the Resource. The Malu Underground Resource is

based on measured, indicated and inferred Resources. There is a low level of geological confidence associated with inferred mineral resources, and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realised. The Company has not yet completed the necessary technical studies to determine an ore reserve, and the production target should not be misconstrued as an ore reserve. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

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OZ MINERALS • PAGE 4

DISCLAIMERS CONTINUED:

Reserves and Resources The information in this presentation that relates to Prominent Hill Mineral Resources and Ore Reserves as at 30 June 2013 (on pages 30-33 and 45) is extracted from the report entitled “Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013” which was released to the market on 11 December 2013 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Ankata Resource Drilling The information in this presentation that relates to Ankata Underground Resource Drilling is based on and fairly represents information compiled by Mr Jim Hodgkison who is a member of the Australasian Institute of Mining and Metallurgy. Jim Hodgkison is a full time employee of OZ Minerals Limited. He is a shareholder of OZ Minerals and is entitled to participate in the OZ Minerals Performance Rights Plan. Mr Hodgkison has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code For Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012). Jim Hodgkison consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

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OZ MINERALS • PAGE 5

CONTENTS

• 1. Site overview
• 2. Strategic planning
• 3. Costs
• 4. Geology
• 5. Open pit operations
• 6. Underground operations
• 7. Processing
• 8. Engineering

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OZ MINERALS • PAGE 6

South Australia is a favourable mining jurisdiction and Prominent Hill is well located with respect to road and rail, power and water. Export route to Asian and European markets via Adelaide.

PROMINENT HILL

LOCATION

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OZ MINERALS • PAGE 7

Deposit Iron-Oxide Copper Gold (IOCG) Hematite breccia hosted Mines Malu Open Pit Ankata Underground - sub-level open stoping mine. Malu Underground - commissioning expected to commence late 2014* Mining rates Total material movement in Malu Open Pit to reduce steadily over the remaining life of mine. Equipment de-mobilisation has commenced and will continue. Mining rates at Ankata to remain steady at ~1.2Mtpa Mining rates at Malu Underground expected at 1.3-1.6Mtpa* Plant Crush, grind, flotation Nameplate 8Mtpa Operating at ~9.5Mtpa since 2010. Workforce Approximately 1,400 including contractors and approximately 75% from South Australia. Organisations on site Open cut mining: Thiess, Ausdrill Underground mining: Byrnecut, Boart Longyear Concentrate transport: Qube/Giacci Village services: Sodexo *Refer to p3 for Malu Underground disclaimer

PROMINENT HILL

COPPER GOLD OPERATION

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OZ MINERALS • PAGE 8

Waste Dumps Pit

TAILINGS STORAGE FACILITY OPEN PIT ROM PAD PROCESSING PLANT VILLAGE ANKATA DEPOSIT AREA NORTHERN WASTE DUMP SOUTHERN WASTE DUMP MALU UNDERGROUND AREA

SITE

PROMINENT HILL

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OZ MINERALS • PAGE 9

21.92 19.73 10.49 7.69 4.38 1.50 1.46 0.96 * Per millions hours worked

SAFETY MANAGEMENT

• Continuous improvement in safety performance since 2010.
• Twenty-six percent improvement in total recordable injury frequency rate (TRIFR) year on

year (2013: 7.69).

• Site Safety Forum enables OZ Minerals and contractors to identify strategies for better

safety outcomes across Prominent Hill.

• Focus on analysing incidents with potential for more serious consequences (high potential

incidents).

• Building a safety culture through the Culture Development Strategy – self-assessment tool

that assists OZ Minerals and contractors improve aspects of their culture that impact on safety.

* *

Rate

* *

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OZ MINERALS • PAGE 10

SITE CULTURE DEVELOPMENT STRATEGY

• Supports the OZ Minerals Values and site

wide culture development.

• Strives for consistency between all areas.
• Drives continuous improvement in
• rganisational culture and outcomes.
• Improved safety performance as an
• utcome.
• Complements the business strategy of

key organisational alliances – Thiess, Byrnecut & Sodexo.

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OZ MINERALS • PAGE 11

Malu Open Pit and Ankata Reserve* Malu UG Resource*

2013 2014 2015 2016 2017 2018

73,362t 75-80,000t 95,000t + Prominent Hill copper production profile

~10,000t Average 10,000 – 20,000t

• Malu Open Pit and

Ankata Underground production target for 2015 and beyond based only on Reserves.

• Treatment of

underground ore and ROM stockpiles to continue post 2018.

• Commissioning

planned in late 2014*. 95,000t + 95,000t + 95,000t +

(‘000t)

PROMINENT HILL

COPPER PRODUCTION OUTLOOK

100

*Refer to p3 for Production Outlook and Malu Underground disclaimer

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OZ MINERALS • PAGE 12

Malu Open Pit and Ankata Reserve* Malu UG Resource*

2013 2014 2015 2016 2017 2018

128,045oz 130-140,000oz Prominent Hill gold production profile ~10,000

• z
• Malu Open Pit and

Ankata Underground production target for 2015 and beyond based

• nly on Reserves.
• Treatment of

underground ore and ROM stockpiles to continue post 2018.

• High gold content

within copper ore.

Average 25,000-35,000oz

95,000oz + 95,000oz + 95,000oz + 95,000oz +

(‘000oz)

PROMINENT HILL

GOLD PRODUCTION OUTLOOK

100

*Refer to p3 for Production Outlook and Malu Underground disclaimer

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OZ MINERALS • PAGE 13

PROMINENT HILL

No serious injuries. High potential incidents focus. Strong Malu Open Pit performance. Steady Ankata performance, Malu Underground on track. Open Pit focused on business improvement initiatives delivering results. Strong site copper production performance. Costs within guidance.

2014 QUARTER 1 – PERFORMANCE HIGHLIGHTS

SLIDE 14

STRATEGIC PLANNING

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OZ MINERALS • PAGE 15

PROMINENT HILL

2014 KEY OPERATIONAL STRATEGIC OBJECTIVES AND FOCUS

SHEC

• High potential

incidents and critical risk focus.

• Safety ownership at

all levels.

• MATES program.

Mining

• Mine +60Mt from

Malu Open Pit.

• Mine 1.2Mt Ankata

Underground ore.

• Begin Malu

Underground production stoping.

Production

• Meet or exceed

market guidance on quarterly and annual basis.

Projects

• Maiden Malu

Underground Reserve.

• Site wide optimised,

integrated LOM plan.

Business Improvement

• 34 active improvement

projects across site.

• Ongoing Malu Open

Pit production and efficiency measures.

• Process plant

improvements.

Costs

• Whole of business

focus on unit and total costs.

• Open pit equipment

demobilisation.

• Contract re-

negotiations.

2014 Prominent Hill Site Operational Strategic Objective “Safe, Sustainable, Cost Effective Production”

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OZ MINERALS • PAGE 16

• Feed blend optimisation
• Marketing requirements
• Scenario comparison for

value, risk and

• pportunity
• Outcomes are aligned to

strategic objectives

• Mining sequence
• ptimisation
• Operational cut-off grade

analysis

• Malu project integration
• Resource optimisation
• Near mine extensional

Drilling targeting areas of highest value

Resource Development and Estimation Mine Planning and Extraction Mineral Processing Whole of Operation Value Assessment

Resource value is being maximised through ongoing integrated LOM analysis. Outcomes are being implemented throughout the

• peration.

PROMINENT HILL

LIFE OF MINE PLAN OPTIMISATION

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OZ MINERALS • PAGE 17

*Refer to p3 for Production Outlook and Malu Underground disclaimer.

• LOM concept built
• n integrated Malu

Open Pit, Ankata and Malu Underground mines paired with current processing plant.

• Malu Underground

studies improving knowledge in key areas i.e. potential processing regimes beyond open pit stockpiles.

• Malu Underground is

the next progressive step in establishing longer term mine life post the open pit.

PROMINENT HILL

CURRENT LIFE OF MINE CONCEPT

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OZ MINERALS • NOVEMBER 2009 • PAGE 18

COSTS

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OZ MINERALS • PAGE 19

COSTS

• Overview of site production costs

 Recent trends/performance

• Malu Open Pit

 Recent history  Expenditure to decrease going forward  Break down of expenditure by activity and nature

• Modelling topics:

 Taxation  Low grade gold ore  Stockpiles

• Cash balance

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OZ MINERALS • PAGE 20

OVERVIEW OF SITE PRODUCTION COSTS

• Improvements in total site production costs quarter on quarter.

 Improved efficiency and productivity in the open pit.  Ankata costs remain steady - Q1 2014 saw higher proportion of capital expenditure.

• Processing costs lower quarter on quarter. Reducing shut downs will also improve costs.
• Site G&A decreasing due to restructures.
• Reduction in gross cash spend has commenced with demobilisation of open pit equipment.
• Contract renegotiations have delivered material improvements in terms, efficiencies and

effectiveness.

MAR QTR 13 JUN QTR 13 SEP QTR 13 DEC QTR 13 MAR QTR 14 Open Pit mining costs 112.8 121.1 131.2 129.0 116.2 Ankata Underground mining costs 15.7 14.4 17.4 18.0 10.9 Deferred mining (33.5) (79.2) (88.0) (76.9) (68.4) Ore inventory adjust (16.5) 11.2 15.7 (9.6) (5.5) Total site processing costs 28.1 26.3 24.8 23.4 23.6 Other direct cash costs 9.5 9.7 9.4 8.8 7.6 Production Costs 116.1 103.5 110.6 92.7 84.4 Physicals Tonnes mined Malu OP (kt) 18,298 20,223 23,836 24,427 22,249 Malu OP unit cost $6.16 $5.98 $5.50 $5.28 $5.22 Tonnes mined Ankata (kt) 289 303 275 336 286 Ankata UG unit cost $49 $45 $63 $54 $37 Tonnes milled (kt) 2,355 2,365 2,486 2,291 2,281 Payable lbs (m) 20,474 17,379 17,390 18,119 18,182 Brook Hunt C1 USc/lb $1.85 $1.95 $2.06 $1.34 $1.22 A$m

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OZ MINERALS • PAGE 21

MALU OPEN PIT

GROSS OPEN PIT EXPENDITURE TO DECREASE

• Waste mining tonnages continue to progressively reduce – gross open pit expenditure to

decrease.

• One excavator and trucks demobilised in December 2013, next excavator and equipment to

be removed in Q2 2014.

• Future unit cost per tonne to be impacted by fixed costs being spread over fewer tonnes.
• Good progress is being made on efficiencies and costs – as demonstrated by Q1 performance

and general trend.

• 25.0

50.0 75.0 100.0 125.0 150.0

• 5

10 15 20 25 30

Q1 Q2 Q3 Q4 Q1 $Am KT

Tonnes & Gross A$ spend

Tonnes mined Malu OP (kt) Open Pit Mining costs

10 20 30 40 50 60 2014 2015 2016 2017 2018 Mt

Open Pit ore and waste movements

Open Pit waste hauled (Mt) Open Pit ore mined (Mt)

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OZ MINERALS • PAGE 22

OPEN PIT EXPENDITURE

BY ACTIVITY & NATURE

• Negotiation with suppliers has yielded savings and/or avoided cost escalations.

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OZ MINERALS • PAGE 23

Payment of taxation

• Because of timing differences between tax deductions and accounting deductions, tax

payments cannot be calculated as a function of accounting profit.

• Significant timing differences arise because a majority of the deferred waste capitalised for

accounts may be deducted immediately for tax.

• The 2013 Annual Report, Note 8, provides the opening deferred tax assets and tax liabilities.
• Current modelling indicates tax payment liabilities arising in respect of the 2016 year with

payments commencing in 2017.

• Fractional tax losses which are available for offset after utilisation of unrestricted tax losses

effectively reduce the corporate tax rate for the Group from 30 percent to 27 percent.

Write down of low grade gold ore

• As in December 2013, write downs for low grade gold ore will be part of underlying profit.
• This accounting entry has no impact on the cash flow, NPV or reserves of Prominent Hill.
• OZ Minerals will provide the written down amount separately to allow analysis of the result.

Stock movement of ore

• Ore mined from Malu Open Pit, Ankata Underground and Malu Underground is expected to

be 10mtpa+ in 2015 – 2018. The mill has historically treated 9-10mtpa – this will result in an increase in ore inventories.

MODELLING TOPICS

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OZ MINERALS • PAGE 24

• Strong site performance in H1.
• Increases in concentrate stocks due to shipment timing and will likely reverse in H2.
• Cash expected to be lower at June 30 and increase in H2, to be neutral for the year

(excluding dividend payments).

ACCELERATED PRODUCTION -> HIGHER WORKING CAPITAL

LOWER CASH AT 30/6; FULL YEAR CASH GUIDANCE REMAINS

• Better open pit performance with improved

efficiencies and lower unit costs results in higher cash spend in H1.

• Good start to year leading to increased

copper ore in stockpiles at end of H1.

• Increased concentrate stocks currently

expected at end H1. Sales biased to H2.

• Receivables currently expected to

increase in H1 due to timing of sales revenue.

• Payables at normal levels.

H1

Compared to expectations

OPEN PIT MOVEMENT ORE STOCKS CONCENTRATE STOCKS RECEIVABLES PAYABLES

SLIDE 25

PROMINENT HILL GEOLOGY

SLIDE 26

OZ MINERALS • PAGE 26

PROMINENT HILL

REGIONAL GEOLOGICAL SETTING Total Magnetic Intensity image showing mine locations and regional geological features

SLIDE 27

OZ MINERALS • PAGE 27

500m metres

N

PROMINENT HILL

LOCAL GEOLOGY – SHOWING MALU OPEN PIT AND ANKATA UNDERGROUND

Ankata Deposit (at depth) Sandstone/Conglomerate Basalt/Andesite (Gawler Range Volcanics) Calc-silicate Meta-sandstone Felsic Volcanic Argillite Dolomite Granitoid Skarn Cu ore Au Sandstone Malu Pit outline

V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V V

− − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − − −

SLIDE 28

OZ MINERALS • PAGE 28

PROMINENT HILL

MALU OPEN PIT GEOLOGY

Meta-sediments Skarn HW Volcanics Chlorite Breccia Dolomite HW Sediments Haematite Breccia Haematite-Qtz Breccia FW Sediments FW Volcanics

Lithology Domains

(north-south)

N

Basement Contact = ~10100RL

Plan view of the Malu Open pit showing geology at the basement contact at – 10100RL

SLIDE 29

OZ MINERALS • PAGE 29

ANKATA KEY LITHOLOGIES

DACITE HEMATITE BRECCIA DACITE CARBONACEOUS ROCK CARBONACEOUS ROCK HEMATITE BRECCIA

SLIDE 30

OZ MINERALS • PAGE 30

PROMINENT HILL RESOURCES & RESERVES

AS AT 30 JUNE 2013

Ankata* Cu Resource2: 9Mt @ 2.4% Cu, 0.4g/t Au Reserve: 7.5Mt @ 2.0% Cu, 0.4g/t Au Kalaya* Cu Resource2: 35Mt @ 1.3% Cu, 0.5g/t Au Au Resource3: 6Mt @ 0.0% Cu, 2.6g/t Au Malu Open Pit* Cu Resource1: 43Mt @ 1.2% Cu, 0.5g/t Au Au Resource3: 14Mt @ 0.1%Cu, 1.0g/t Au Reserve: 59Mt @ 0.8% Cu, 0.6g/t Au Malu Underground* Cu Resource2: 67Mt @ 1.2% Cu, 0.6g/t Au Au Resource3: 4Mt @ 0.4% Cu, 2.0g/t Au

1 0.3% Cu cut-off; 2 0.9% CuEq cut-off ; 3 0.5g/t Au cut-off Below 0.3% Cu.

* Resource figures are based on Measured, Indicated and Inferred resource classification and Reserve figures are based on Proven and Probable classified material. Full summary of information relating to Prominent Hill Mineral Resources and Reserves is set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources--reserves.html . Refer to disclaimer on page 4.

Surface Stocks*

Cu Stocks: 1Mt @ 0.7% Cu, 0.3g/t Au Au Resource: 6Mt @ 0.1% Cu, 0.8g/t Au

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OZ MINERALS • PAGE 31

Dolomite & Volcanics

MALU OPEN PIT MINERALISATION

Oblique View (looking down and north-east) of the main Cu domains in the Malu Open Pit

• Mine. Pit shell represents the ultimate pit design as at the end of open pit mine life.

* Full summary of information relating to Prominent Hill Mineral Resources is set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources-- reserves.html . Refer to disclaimer on p 4.

Malu OP Resources: Copper-Gold 43Mt @ 1.2% Cu, 0.5g/t Au* Gold-Only 14.5Mt @ 1.0g/t Au*

N

Ultimate Pit Shell Design Prominent Hill Shear Zone Hematite-Qtz Breccia

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OZ MINERALS • PAGE 32

MALU UNDERGROUND MINERALISATION

Oblique View (looking down and south-east) of the main copper domains in the Malu Underground Mine below the ultimate open pit design. Inset – showing plan view.

* Full summary of information relating to Prominent Hill Mineral Resources is set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources--reserves.html . Refer to disclaimer on p 4.

N

Malu UG Resources: Copper-Gold 67Mt @ 1.5% CuEq, 1.2% Cu, 0.6g/t Au* Gold-Only 4Mt @ 2.0g/t Au*

2014 Resource delineation and grade control delineation drilling program. Ultimate Pit Shell Design Dolomite & Volcanics

(Chalcocite mineralisation)

Prominent Hill Shear Zone

(Chalcocite and Bornite mineralisation)

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OZ MINERALS • PAGE 33

ANKATA MINERALISATION

Oblique View (looking down and south-east) of the main Cu domains in the Ankata Mine. Inset – showing view looking back north west.

Pons, Callosum (Red) Hematite Breccia hosted Chalcocite and Bornite mineralisation. Peabrain (Blue) Hematite Breccia and Dacite hosted Chalcocite and Bornite mineralisation. Globus (Yellow) Massive Graphite altered carbonaceous rock hosted Chalcocite and Bornite mineralisation. Callosum 2 (Light Brown) Hematite Breccia hosted Chalcocite and Bornite mineralisation.

* Full summary of information relating to Prominent Hill Mineral Resources is set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources--reserves.html . Refer to disclaimer on p 4.

Ankata Resource: 9Mt @ 2.4% Cu, 0.4g/t Au*

N

80m

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OZ MINERALS • PAGE 34

ANKATA UNDERGROUND RESOURCE DRILLING

PEABRAIN AREA – POTENTIAL FUTURE INCREMENTAL ORE ADDITION

* For full details of the 2012 Prominent Hill Mineral Resources and Ore Reserves Statement go to http://www.ozminerals.com/operations/resources--reserves.html

Only a 6.8% reduction in resource ore tonnage since 2008. Net 92kt growth in contained Cu Metal since 2008.

Addition

• f Ankata,

Kalaya and Malu UG Resources Addition

• f Ankata,

Kalaya and Malu UG Resources

Peabrain outline 2013 Resource Current Peabrain resource

• utline

9845 Level Cu %

Current Peabrain Interpretation Peabrain 2013 Resource Outline Current Pons Resource Outline SECTION 11637.5mN Looking North

Refer to Reserves and Resources Disclaimer p4.

Cross section through the Peabrain area at Ankata showing recent drilling locations.

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OZ MINERALS • PAGE 35

Current Peabrain Interpretation Peabrain 2013 Resource 9845 Drill Platform

ANKATA UNDERGROUND RESOURCE DRILLING

PEABRAIN AREA – ISOMETRIC VIEW LOOKING NE

Refer to p4 Reserves and Resources Disclaimer.

Model of the Peabrain area at Ankata showing resource interpretation.

SLIDE 36

OPEN PIT OPERATIONS

SLIDE 37

OZ MINERALS • PAGE 37

PROMINENT HILL

MALU OPEN PIT MINE – H1 2014

SLIDE 38

OZ MINERALS • PAGE 38

Liebherr 996 Excavator

Manufacturer: Liebherr Machine Weight: 659 t Engine: 16 Cyl water cooled V-engine (2) Engine Output: 3000HP (2240kW) Fuel Capacity: 13,000 litres Bucket Capacity (Vol): 29 – 33m3 Bucket Capacity (Mass): ~56t Target Production: ~3200 t/hr (material

CAT 793 Mining Truck

Manufacturer: Caterpillar Machine Weight (Gross): ~384 tonnes Engine: 16 Cylinder four stroke diesel engine Engine Output: 2300HP (1750kW) Tray Capacity: ~ 218+ t Current Fleet

• 4 x Liebherr R996 Excavators
• 1 x Liebherr R9350 Excavator
• 46 x CAT 793 (220t) Trucks
• 2 x CAT 994 Loader for ROM
• 3 x CAT 785 Trucks for ROM
• 7 x D10 Dozers
• 1 x Wheel Dozer
• 4 x Graders
• 3 x CAT 777 Water carts
• 3 x Cubex drills
• 5 x Terex Reedrill SK Rigs
• 2 x RC Grade Control Rigs

Forecast De-Mobilisation

• Mid 2014
• 1 x Liebherr 996
• 1x CAT 793 Unit
• 1 x Wheel Dozer

PROMINENT HILL

OPEN PIT MINING FLEET – H1 2014

Source: Liebherr 996.pdf, Caterpillar 793 Technical Specificatons.pdf

SLIDE 39

OZ MINERALS • PAGE 39

PROMINENT HILL

32 563 39 76 7

OZ Minerals Thiess Thiess Sub AusDrill Orica

Greater integration of planning & production Improved communication, issue resolution & shared learnings

RESTRUCTURED OPEN CUT MINING TEAM

Opencut Operations Manager Production Department D&B, Projects, Dewatering Technical Services Planning, Engineering, Geotechnical Maintenance Department Maintenance Planning, Supply / Inventory HSET OHS, Training and Environment Finance / Admin / Cost Travel, Accounts, KPIs

Numbers of staff and contractors

SLIDE 40

OZ MINERALS • PAGE 40

PROMINENT HILL – LONG SECTION

FACE POSITION AND LOM MINING SCHEDULE

Cross section through the Malu Open Pit showing mining stages.

SLIDE 41

OZ MINERALS • PAGE 41

PROMINENT HILL – FORECAST

STRIP RATIO TO REDUCE SIGNIFICANTLY POST 2014

Cross section through the Malu Open Pit showing ore and waste to be mined by year.

SLIDE 42

OZ MINERALS • PAGE 42

EXTENSIVE GEOTECHNICAL MONITORING COVERAGE

RADAR Coverage Prism Location Plan

• 540 prisms currently reading, using 2 x

computer controlled survey instruments

• Measurements are accurate to less than 1mm (3

dimensions of measurement, xyz)

• Majority of the south and north walls are monitored.
• Displacement measurement is accurate to less than

0.1mm (1 dimension of measurement)

• Scans every 5 minutes, 24/7.
• Approximately 540 prisms currently reading
• Measurements are accurate to less than

1mm

• Effective for both short and long term

monitoring & analysis of movement.

SLIDE 43

OZ MINERALS • PAGE 43

1 FLITCH AHEAD

1 BENCH AHEAD

1 FLITCH AHEAD

1 BENCH AHEAD

ON SCHEDULE

PROMINENT HILL

MALU OPEN PIT - MINING AHEAD OF SCHEDULE

Malu Open Pit showing face positions at end Q1 2014. Mining ahead of schedule compared to forecast positions in December 2013. Dig rates higher with productivity improvements introduced including:

• Integrated mine planning
• Flitch/bench height adjustment
• Off-camber ramps
• Improved dispatch system

SLIDE 44

UNDERGROUND OPERATIONS

SLIDE 45

OZ MINERALS • PAGE 45

UNDERGROUND MINE - BASELINE STATISTICS

Ankata Reserves* Mining rates

1.2Mtpa

Mining method

Sub level open stoping with paste fill

Personnel

OZ Minerals 65 Contractors 220 5 Senior Managers - combined 84 years mining experience

• 73 years underground, 11 years open cut
• 4 First Class Mine Managers
• Mix of OZ Minerals and Byrnecut

Contractors

Byrnecut (162) – UG operations with Jetcrete Boart Longyear (40) – diamond drilling Raisebore Australia (10) – raise boring Jetcrete (8) – concrete supply

*The information set out in this table is a summary of information relating to Prominent Hill Mineral Resources set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ created on 11 December 2013 and is available at www.ozminerals.com/operations/resources-- reserves.html. Refer to page 4 for Reserves and Resources Disclaimer.

Ankata Ore Reserves - June 2013*

SLIDE 46

OZ MINERALS • PAGE 46

ANKATA UNDERGROUND MINE - GROWTH

UPPER EVE LOWER EVE AUDREY GLADYS KATHLEEN

• Ankata mineralisation discovered 2007.
• Definition and Feasibility Study 2009-10.
• Project approved August 2010.
• Decline started November 2010.
• Decline accessed Ankata orebody.
• Underground orebody definition and

grade control drilling.

• Achieved first stope ore production.
• Ramped up to full production rate.
• Added 2 years’ mine life.
• Continued orebody definition and

grade control drilling.

• Achieved 1.2mt production.
• Mining depletion replaced in Ankata

Ore Reserve.

SLIDE 47

OZ MINERALS • PAGE 47

UNDERGROUND ORGANISATIONAL CHART

SLIDE 48

OZ MINERALS • PAGE 48

ANKATA MINE – UNDERGROUND EQUIPMENT

• Sandvik DD420 Twin Boom Jumbo (3)
• Sandvik LH621 Loader – 8m3 bucket (4)
• Komatsu HD465/605 – 7EO 57t Trucks (7)
• Atlas Copco MT6020 – 60t Trucks (2)
• Caterpillar 140M Grader
• Sandvik DL420 – 15 Solo Production Drill
• Dieci Zues Telehandler
• Isuzu Flatbed Trucks (4)
• Volvo L120F Integrated Tool Carrier (5)
• Normet Trans-Agi Concrete Truck (2)
• Normet Spraymec Fibrecrete Machine
• Atlas Copco GA160 Electric Compressor
• Ingersoll Rand R160iE-A7.5 Electric Compressor
• Toyota Light Vehicles & Buses (30)
• S264 Caterpillar 740 Water Truck
• Normet Charmec Explosive Charging Machine (2)

SLIDE 49

OZ MINERALS • PAGE 49

PROMINENT HILL - UNDERGROUND INFRASTRUCTURE

Infrastructure leveraged from existing site.

• Roads and hardstands
• Change-house and office, plus upgrade
• Communications to underground
• High voltage power supply
• Raw water supply to underground
• Underground crib room
• Surface workshop
• Paste-fill plant
• Boreholes to underground
• Underground pump-station
• Surface explosives magazine
• Underground explosives magazine
• Heavy vehicle washpad
• Orebody definition -

diamond drilling from underground.

SLIDE 50

OZ MINERALS • PAGE 50

ANKATA MINE VENTILATION

Two ventilation shafts sunk from surface for Ankata Mine :

• VR4A intake air shaft
• VR2A exhaust air shaft
• 286m deep
• 5m diameter
• Shaft sink top half then raisebored

bottom half

• Installed two primary vent fans that can

move 440 m3/s of air. Other rises raisebored from underground:

• 3.5m & 5m diameter for ventilation
• 1.5m diameter for emergency escape

ladderways.

SLIDE 51

OZ MINERALS • PAGE 51

COMMUNICATIONS MAP

Multiple layers of communications for safety, monitoring and control

RFID Tracking Modular Fleet Management System Mobile VOIP Phones Wireless LAN access Cameras Pastefill pressure/stress sensors ISS Seismic system Communications to and from UG

• Drill Plans
• WPIs
• Servicing checklists & records
• Inspections

Fixed plant monitoring and control

• Primary Fans
• Pump-stations
• Vent Fans
• Vent controls
• Stench Gas Release
• Emergency Response

Fire Suppression alarms Dust, gas, airflow monitoring Pastefill monitoring & valve controls Orica CEBS system UG Access to CITECT Digital VHF Leaky Feeder Radio PED System Proximity Detection OPTICAL FIBRE BACKBONE

SLIDE 52

OZ MINERALS • PAGE 52

VR4A SHAFT - EMERGENCY EGRESS HOIST

SLIDE 53

OZ MINERALS • PAGE 53

VR4A SHAFT - PASTE FILL PLANT

SLIDE 54

OZ MINERALS • PAGE 54

LONG HOLE OPEN STOPING METHOD

SLIDE 55

OZ MINERALS • PAGE 55

ANKATA 2014 MINE PLAN

Proposed Ankata Development and Production Q4 2013 and 2014. Callosum orebody Pons Orebody Globus Orebody Peabrain Orebody

SLIDE 56

OZ MINERALS • PAGE 56

MALU UNDERGROUND

COMMISSIONING PLANNED TO COMMENCE IN 2014*

• Capital expenditure of $71m in 2014 as part of

total construction capital $201m**

• First production stopes in Q4 2014
• 4,000t of copper production in 2014*

*Refer to p3 Malu Underground Disclaimer. **including expenditure in 2013 but not including potential sales of concentrate made from pre-production ore.

Malu Underground Mine concept showing 2014 planned development, stopes and drilling*

SLIDE 57

OZ MINERALS • PAGE 57

MALU UNDERGROUND

PLANNED PRIMARY VENTILATION SYSTEM

Malu Underground Primary Fans

• 2 x Underground Mounted Exhaust

Fans.

• Zitron 3.4m dia 1100 kW Axial Fans at

6o pitch.

• Approximate through-flow of 540

m3/s.

• To be installed in the second quarter
• f 2014.

SLIDE 58

OZ MINERALS • PAGE 58

MALU UNDERGROUND

2014 SCOPE & KEY DELIVERABLES

• Continued development of the Hanging-Wall Decline.
• Develop early levels for stoping in 2014 and commence

development for 2015.

• Continue orebody delineation and grade control drilling.
• Upgrade ventilation with primary fans and ventilation shafts.
• Upgrade power supply, mine services, geotechnical

monitoring and safety infrastructure.

• Construct a preliminary cemented hydraulic fill plant and

install pastefill reticulation.

• Produce approximately 250kt of ore for ~4,000t of copper

metal.* *Refer to p3 for Malu Underground Disclaimer.

SLIDE 59

PROCESSING

SLIDE 60

OZ MINERALS • PAGE 60

Gyratory Crusher Crushed Ore From Mine SAG Mill Screen Primary Cyclones Ball Mill Rougher Flotation Regrind Cyclones Regrind Mill Cleaner Flotation 1 Cleaner Flotation 3 Cleaner Flotation 2 Concentrate Thickener Pressure Filter Concentrate Loadout Concentrate Storage Tailings Thickening Tailings Storage Facility

TAILINGS FLOTATION CRUSHING AND STOCKPILE GRINDING CONCENTRATE DEWATERING AND STORAGE

Jameson Cell

OVERVIEW OF PROCESSING OPERATIONS

FLOWSHEET

SLIDE 61

OZ MINERALS • PAGE 61

Milling Circuit

• Design rate = 8Mtpa
• Current rate = 9.5Mtpa
• Size reduction to 80% passing 135µm.

Key statistics

• SAG Mill – 10.4m (34’) x 4.7m - 12MW installed
• Ball Mill – 7.3m (24’) x 10.4m -12MW installed
• IsaMill – M10000 - 3MW installed.

Key operating costs

• Power
• Grinding media and liners.

OVERVIEW OF PROCESSING OPERATIONS

Flotation Circuit

• Design Cu Recovery = 88% Chalcocite-bornite & 80%

Bornite-chalcopyrite

• Current Cu Recovery = 88% YTD.

Key Statistics

• 6 x 150m3 Rougher Cells
• 14 x 50 & 20m3 Cleaner Cells
• Jameson Cell B 5400 - 18 Downcomers
• Ethyl Xanthate collector, thionocarbamate.

Key Operating Costs

• Reagents
• IsaMill ceramic media.

SLIDE 62

OZ MINERALS • PAGE 62

PERFORMANCE TO DATE

MILL – FEED GRADES

• Higher copper feed grade targeted for H2 2014 subject to ongoing strong open pit

performance and improvement in Ankata ore grades, with an initial contribution from the Malu Underground.

SLIDE 63

OZ MINERALS • PAGE 63

PERFORMANCE TO DATE

MILL – THROUGHPUT

• Throughput targeted to increase in H2 2014 subject to ongoing strong open pit performance.

SLIDE 64

OZ MINERALS • PAGE 64

PERFORMANCE TO DATE

MILL – AVAILABILITY

• High mill availability with improvements still on-going

SLIDE 65

OZ MINERALS • PAGE 65

PERFORMANCE TO DATE

FLOTATION - RECOVERY

SLIDE 66

OZ MINERALS • PAGE 66

PERFORMANCE TO DATE

FLOTATION - GRADES

• High grade copper concentrate

SLIDE 67

OZ MINERALS • PAGE 67

IMPROVEMENTS

ADDITIONAL FLOTATION CLEANER STAGE TO BE ADDED – CONCENTRATE QUALITY EXISTING DESIGN

• 70 percent of concentrate produced by

existing Jameson Cell. Low impurity entrainment.

• 30 percent produced by conventional

flotation cells. NEW DESIGN TRIAL

• Add second Jameson Cell to end of existing

conventional cleaning circuit.

• Improved wash water increases rejection of

entrained particles.

• Increases flexibility of circuit to deal with

impurities. PILOT PLANT TRIAL RESULTS

• Reduced overall Fluorine in concentrate by

15 percent.

• Reduced overall Uranium in concentrate by

10 percent to 20 percent.

SLIDE 68

OZ MINERALS • PAGE 68

IMPROVEMENTS

PROJECT PIPELINE

PROJECTS

• Addition of mill noise control measurement into integrated mill control system.
• Mill liner redesign to increase life from 13 week availability to >17 weeks and hence
• ne less mill shut down per year.
• Increase flexibility and re-arranging of circuit to increase regrinding capacity and

classification.

• Greater substitution of process water versus raw water.
• Further grinding media, reagent and ceramic media substitutions to reduce unit

costs of consumables.

• Additional flotation cleaner stage to reduce entrained impurities.

SLIDE 69

OZ MINERALS • PAGE 69

CASE STUDY

IMPLEMENTED BUSINESS IMPROVEMENT PROJECTS

SLIDE 70

OZ MINERALS • PAGE 70

SUMMARY

PERFORMANCE

• Consistent and robust performance of the plant under changing feed conditions.
• Over design performance for throughput, recoveries and grades.
• Cost profile reductions for variable costs.

PEOPLE

• Strong operational and technical team with average onsite retention rate of > 3.5 years.
• Offsite technical services to draw expert advice and technical support.

PROJECTS

• Continued focus on improvement projects and business improvement culture embedded in

the Processing department since 2010.

• Strong cost and performance focus.

SLIDE 71

ENGINEERING

SLIDE 72

OZ MINERALS • PAGE 72

PERFORMANCE TO DATE

EXCELLENT CONCENTRATOR AVAILABILITY

90.1 92.4 94.1 94.4 94.9 0.3 2.0 0.6 1.1 0.5

• 0.2

0.5 0.0 87 88 89 90 91 92 93 94 95 96

Concentrator Availability 2010 Change in Planned Downtime 2011 Change in Unplanned Downtime 2011 Concentrator Availability 2011 Change in Planned Downtime 2012 Change in Unplanned Downtime 2012 Concentrator Availability 2012 Change in Planned Downtime 2013 Change in Unplanned Downtime 2013 Concentrator Availability 2013 Change in Planned Downtime 2014 Change in Unplanned Downtime 2014 Concentrator Availability 2014

Concentrator Availability 2010-2014

2014 Target

% availability

SLIDE 73

OZ MINERALS • PAGE 73

PERFORMANCE TO DATE

EXCELLENT CONCENTRATOR AVAILABILITY

89 82 47 36 20 40 60 80 100 2010 2011 2012 2013

Total Unplanned Downtime Events

Unplanned Downtime Hours

• Continuous improvement in

equipment reliability and maintenance processes.

• Improvements in planning and

executing major shutdowns Unplanned Downtime Events

• Decrease from 89 to 36 events
• Two record continuous SAG Mill runs
• f 48 and 64 days

298 185 93 120 50 100 150 200 250 300 350 2010 2011 2012 2013

Unplanned Equipment Related Downtime Hours

SLIDE 74

OZ MINERALS • NOVEMBER 2009 • PAGE 74

SUMMARY

SLIDE 75

OZ MINERALS • PAGE 75

SUMMARY

OPEN PIT

• Issues in 2013 now overcome.
• Restructure highly successful.
• Demonstrated productivity improvements.
• Strong performance in first quarter continues into second quarter.

UNDERGROUND

• Ankata Underground continues to perform well.
• Potential for incremental additions at ‘Peabrain’.
• Malu Underground on track for first production late 2014.

PROCESSING

• Consistent strong performer.
• Continuing improvements being implemented with expanded flotation circuit.
• Grades and throughput planned to increase in H2.

COSTS

• Cash to dip in H1 and recover in H2 due to strong material movement in H1 and shipments

weighted to H2.

• Costs being controlled and remain a key focus.
• Cash generation to improve as fleet is demobilised.

SLIDE 76

OZ MINERALS • NOVEMBER 2009 • PAGE 76

JORC 2012 REPORTING INFORMATION TABLE 1: SECTIONS 1 & 2

SLIDE 77

OZ MINERALS • PAGE 77

ANKATA UNDERGROUND RESOURCE DRILLING

SIGNIFICANT INTERSECTIONS

9845 Level

Hole ID Total Depth (m) East North RL Dip Azimuth From (m) To (m) Interval (m) Cu (%) Au (g/t) PH13GC6220 180 54211.64 11713.02 9852.77 3 90.3 146.0 153.0 7.0 1.0 0.06 PH13GC6219 135 54211.65 11713.23 9852.31

• 7

90.3 104.0 112.0 8.0 1.8 0.01 PH13GC6217 120 54211.92 11713.12 9851.54

• 38

90.3 72.0 101.0 29.0 2.1 0.14 PH13GC6216 150.2 54211.66 11713.16 9850.82

• 60

90.3 116.0 138.0 22.0 1.2 0.07 PH13GC6208 149.5 54211.61 11699.42 9853.08 7 90.3 105.0 130.0 25.0 2.1 0.09 PH13GC6178 110 54204.03 11670.51 9851.72

• 57

258.3 61.0 86.0 25.0 2.1 0.69 PH13GC6166 125 54204.63 11675.57 9851.56

• 63

270.3 70.3 95.0 24.7 2.7 1.17 PH14RD6255 115 54209.72 11662.31 9851.77

• 69

90.3 64.0 90.0 26.0 5.6 0.3 PH13GC6188 125 54206.53 11675.25 9851.53

• 86

270.3 61.0 86.0 25.0 2.1 0.69 PH14GC6288 95 54204.22 11649.67 9851.83

• 54

270.3 41.0 72.7 31.7 1.2 0.6 PH14RD6268 95 54210.25 11636.82 9852.61

• 46

90.3 27.7 44.0 16.3 3.0 0.19 PH14RD6269 85 54210.33 11636.74 9853.18

• 24

90.3 28.0 36.0 8.0 1.2 0.21 PH14GC6290 85 54204.81 11649.64 9851.78

• 75

270.3 71.0 74.6 3.6 2.6 0.14 PH14RD6267 115 54210.10 11636.77 9852.00

• 63

90.3 32.0 44.0 12.0 2.8 0.27 PH14RD6267 115 54210.10 11636.77 9852.00

• 63

90.3 51.1 91.0 39.9 3.2 0.14 PH14RD6266 130 54209.68 11636.78 9852.09

• 77

90.3 22.1 41.0 18.9 5.1 0.26 PH14RD6266 130 54209.68 11636.78 9852.09

• 77

90.3 48.3 88.8 40.5 3.3 0.17 PH14RD6265 130 54209.42 11636.78 9852.04

• 89

90.3 26.0 42.1 16.1 2.8 0.26 PH14RD6265 130 54209.42 11636.78 9852.04

• 89

90.3 49.5 80.0 30.5 4.2 0.2 PH14RD6266 130 54209.68 11636.78 9852.09

• 77

90.3 22.1 88.8 66.7 3.5 0.19 PH14RD6270 80 54210.17 11636.75 9854.18 8 90.3 51.0 59.2 8.2 1.0 0.01 PH14GC6279 105 54210.35 11661.79 9851.76

• 52

90.3 55.0 73.0 18.0 4.8 0.11 PH14GC6300 125 54205.69 11649.93 9851.78

• 84

270.3 33.0 43.3 10.3 1.8 0.29 PH14GC6300 125 54205.69 11649.93 9851.78

• 84

270.3 53.3 60.0 6.7 3.8 0.29 PH14GC6300 125 54205.69 11649.93 9851.78

• 84

270.3 65.0 78.0 13.0 5.2 0.19 PH14GC6301 145 54208.74 11649.89 9851.77

• 88

90.3 17.0 101.0 84.0 3.2 0.23 PH14GC6302 135 54209.26 11650.10 9851.82

• 80

90.3 12.3 44.0 31.7 1.2 0.39 PH14GC6302 135 54209.26 11650.10 9851.82

• 80

90.3 52.7 105.2 52.5 3.3 0.15 PH14GC6303 125 54209.20 11650.06 9851.73

• 72

90.3 65.0 101.0 36.0 4.7 0.2 PH14GC6304 110 54209.33 11649.90 9851.77

• 64

90.3 53.0 94.0 41.0 4.3 0.21 PH14GC6315 100 54209.93 11649.91 9851.80

• 56

90.3 66.0 84.0 18.0 2.2 0.05 PH14GC6323 115 54209.76 11636.99 9851.99

• 70

90.3 24.1 58.0 33.9 4.5 0.25 PH14GC6323 115 54209.76 11636.99 9851.99

• 70

90.3 61.0 95.0 34.0 2.1 0.18

All holes are in a local mine plan grid and were drilled underground from the Ankata 9845 level development. Copper intercepts length weighted downhole, ≥0.5% Cu with <2m consecutive downhole of internal dilution. Gold intercepts length weighted downhole, ≥2.0g/t Au & <0.5% Cu with <2m consecutive downhole of internal dilution. Widths reported may not reflect true widths.

SLIDE 78

OZ MINERALS • PAGE 78

ANKATA UNDERGROUND RESOURCE DRILLING

TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

• JORC 2012

9845 Level

CRITERIA COMMENTARY

Sampling techniques The Prominent Hill resources are sampled using underground and surface diamond drill holes and surface reverse circulation (RC) drill holes. Surface RC holes were sampled at 1m intervals after a 1/8th field split. Field duplicates were collected at a rate of one every 20-30 samples. Each RC metre sampled weighed ~4-6kg. All RC samples were sent to an offsite laboratory for crushing and pulverising to produce a 40 gram sample charge for analysis by fire assay and inductively coupled plasma optical emission spectrometry (ICPOES). Surface diamond drill holes were sampled on nominal 1m intervals; however sample lengths between 0.4 and 1.4m were permitted. Surface diamond drill holes were sampled in full within the Prominent Hill mineralisation host lithologies and only periodically sampled within established waste domains. All underground diamond drill holes were sampled on nominal 1m intervals. Sample lengths between 0.3 and 1.3m were permitted. There was no sampling across

• bvious geological boundaries. All underground diamond drill holes were sampled along their entire length. Underground drill holes classed as “resource delineation”

were half cored before being sampled. Underground drill holes classed as “grade control” were full core sampled unless they met one of the following requirements, in which case they were half core sampled:  The drill hole was the upper or lower most hole on any section of fan holes (limits of the domain being drilled).  The adjacent hole on section was full core sampled (result is every alternate hole is half core sampled). All diamond core samples were completely crushed and pulverised to produce sample charges for analysis by fire assay and ICP methods. A program of regular field duplicate sample submission at a rate of two samples per 40 to 60 samples has been undertaken historically and is still current sampling practice for diamond drilling. Drilling techniques The majority of drilling was by diamond coring, with only a small number of RC holes (8%). RC drill holes utilised a face sampling bit and were of 5¾ or 5½ inches in diameter. Surface Diamond drill holes were a combination of standard tube NQ2 and HQ sizes. Down hole orientations were completed through use of the “Ezy-Mark” tool pre February 2005 and the “ACE” electronic core orientation tool thereafter. Underground diamond drill hole were drilled with a combination of NQ2, LTK 60 and BQTK core sizes. Down hole orientations were completed using a “Reflex ACT” digital orientation tool. Drill sample recovery For RC drilling total weights (inclusive of moisture) were recorded for reverse circulation samples. Recoveries were calculated as a percentage of recorded weight versus a theoretical 100% recovery weight. Recovery of RC drilling was calculated to be 92%. Measures taken to maximise sample recovery were centered around hole conditioning and maintenance of steady drill perpetration rates. There does appear to exist a weak bias in low recovery RC samples with higher grade copper results. However, the low number of high-grade reverse circulation samples affected by this apparent bias suggests no material effect on the global resource estimate by their inclusion. Diamond drilling core recovery was recorded for all core processed. This was recorded as a percentage of drilled run length. Core recovery was 93% recovered for the Malu Resource area, 98% percent for the Ankata Resource and 94% for the Kalaya Resource (data available for only 48% of Kalaya drilling).

SLIDE 79

OZ MINERALS • PAGE 79

TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

• JORC 2012 - CONTINUED

9845 Level

Logging 92% of all drill holes have been geologically logged to a level of detail to support the definition geological domains appropriate to support mineral resource estimation and classification. A majority of the unlogged metres are either located distal to the Prominent Hill resources or were drilled for geotechnical/metallurgical sampling purposes with data not captured within the resource database. Prominent Hill drilling prior to 2011 shows a total of 400,260m drilled and 367,762m logged (92%). Since 2011 the following drilling has been completed and logged: Malu: 26,534m drilled, 25,846m logged (97%). Kalaya: 2,103m drilled, 2,103m logged (100%). Ankata: 102,808m drilled, 100,709m logged (98%) Basic geotechnical logging has been completed on the drilled holes by Geologists and Geology Technicians. This has primarily been RQD/Rock Mass recordings and

• rientated structural measurements.

The Geotechnical Engineers also undertake geotechnical logging of selected diamond holes in areas of direct relevance to underground infrastructure and operations. A regular program of core photography has been undertaken on diamond drilling since 2004. Approximately 90% of all core holes have been photographed. Sub-sampling techniques and sample preparation Surface RC holes (2003-2006) were sampled at 1m intervals after a 1/8th field riffle split. 238 samples (0.01% of RC samples) were noted as being wet, such samples were dealt with via a specific sampling protocol to meet quality assurance requirements. RC sample preparation at the laboratory was completed as follows:

• Weigh
• Drying @ 110°C
• Oven dry weigh
• Quartz wash
• Pulverise entire sample (multi-pass re-homogenise as required) to 90% at -75 micron
• Collect pulp, bag remaining reject.

Field duplicates were collected as a second 1/8th field split at the drill rig and were initially selected at a rate of 4%, spaced at 20-30 samples.

SLIDE 80

OZ MINERALS • PAGE 80

TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

• JORC 2012 - CONTINUED

9845 Level

Sub-sampling techniques and sample preparation – continued Surface diamond drill holes were sampled on nominal 1m intervals; however sample lengths between 0.4 and 1.4m were permitted. Core was sawn longitudinally and half core samples submitted for analysis. Surface core sample preparation at the laboratory was completed as follows:

• Weigh
• Drying @ 110°C
• Oven dry weigh
• Crush to -2mm
• Riffle split into two samples
• Quartz wash
• Pulverise both split samples separately (multi-pass re-homogenise as required) to 90% at -75 micron
• Collect two pulps from each sample, bag remaining rejects separately.

For core samples a sequence of matrix matched certified reference materials (Prominent Hill sourced), commercial certified reference materials and blanks were inserted into the sample run at a frequency of ~1 in 25 samples:

• Coarse Blank
• Certified reference material
• Pulp Blank

All underground diamond drill holes were sampled on nominal 1m intervals. Sample lengths between 0.3 and 1.3m were permitted. Diamond core was sawn longitudinally when half core samples were required for analytical analysis as specified under “Sampling Techniques”. Underground core sample preparation at the laboratory was completed as follows: Weigh Drying @ 110°C Oven dry weigh Crush to -2mm Riffle split into two samples (10mm aperture) Quartz wash Pulverise both split samples separately (multi-pass re-homogenise as required) to 90% at -75 micron Collect two 250g pulps from each sample, bag remaining rejects separately. For core samples a sequence of matrix matched certified reference materials (Prominent Hill sourced), commercial certified reference materials and blanks were inserted into the sample run at a frequency of ~1 in 25 samples: Coarse Blank Certified reference materials Pulp Blank Sample sizes are considered to be appropriate for the style/texture of copper-gold mineralisation at Prominent Hill.

SLIDE 81

OZ MINERALS • PAGE 81

TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

• JORC 2012 - CONTINUED

9845 Level

Quality of assay data and laboratory tests All analytical methods used are considered to be total methods, through either four acid digests or sample fusion. RC samples were assayed using Inductively Coupled Plasma Optical Emission Spectrometry, Modified Aqua Regia Digest and 40g Fire assay. These samples were assayed for a suite of 31 elements; with the samples that may contain copper or gold and/or are close to a known mineralised zone also analysed for fluorine. For RC holes QAQC controls involved matrix matched certified reference materials being inserted at a rate of 4%, i.e. spaced at 20-30 samples apart. Coarse-blanks / pulp-blanks were inserted at a rate of 4% and preceded every matrix matched certified reference materials. Surface core samples (2001-2010) were assayed using Aqua Regia Digest, 40g Fire assay, Alkali Fusion, Mixed Acid Digest, Screen Fire Assay and Glass Fusion. These samples were assayed for a suite of 31 elements; with the samples that may contain copper or gold and/or are close to a known mineralised zone also analysed for fluorine. Field duplicates were inserted ~2 in every 60 samples. A split occurred at Amdel (offsite laboratory) after sample crush with then two pulps analysed from each pulverised split giving rise to four results from the one sample interval. Laboratory repeats/duplicates during this period were completed (on an approximate frequency depending on the analytical techniques) as shown below:  Fire Assays: rate of 4%  IC4: rate of 7%  MET1: rate of 4% Samples from 2010-2013 were assayed using Aqua Regia Digest, 40g Fire assay, Inductively Coupled Plasma Optical Emission Spectrometry/ Inductively Coupled Plasma Mass Spectrometry, Modified Aqua Regia and Alkali Fusion. These samples were assayed for a suite of 55 elements. Field duplicates were inserted ~2 in every 40 to 50 samples. A split occurred at Amdel (offsite lab) after sample crush with then two pulps analysed from each pulverised split giving rise to four results from the one sample interval. Laboratory repeats/duplicates during this period were completed (on an approximate frequency depending on the analytical techniques) as shown below:  Fire Assays: 1/25 Samples  IC4: 1/20 Samples  MET1: 1/14 Samples QAQC samples were monitored on a batch-by-batch basis and samples in each failed batch were re-assayed. The assay data pass/fail criteria up to the end of December 2012 was as follows:  A batch was said to ‘fail’ if two standard samples were outside 2 standard deviations from the expected standard grade or if one standard was greater than 3 standard deviations from the expected standard grade. If a batch failed, the laboratory was contacted for batch re-assay.  The pass/fail criterion for coarse blanks followed that any blank returning a result, greater than a certain multiple of the detection limit will fail (dependent upon the element). If a coarse blank returned a value outside of acceptable tolerances, the laboratory is contacted for batch re-assay. The assay data pass/fail criteria from January 2013 to the end of June 2013 was as follows:

• A batch was said to ‘fail’ if a standard sat outside 3 standard deviations from the expected grade. If a batch failed, the laboratory was contacted for batch re-assay.

SLIDE 82

OZ MINERALS • PAGE 82

TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

• JORC 2012 - CONTINUED

9845 Level

Verification of sampling and assaying High standard QAQC procedures are in place and audited frequently at Prominent Hill, therefore repeatability issues from a QAQC point of view are not considered to be significant. Significant and/or unexpected intersections are reviewed by alternate company personnel through review of geological logging data, core photography, physical examination of remaining core samples (in instances of half core sampling) and review of digital geological interpretations. In 2006 a number of diamond and RC hole pairs within the Prominent Hill dataset were deemed close enough to be considered twinned holes pairs. Since 2006 there has been no systematic review of twinned pairs of drill holes, though a number of holes are known to be spatially coincident and as such lend themselves to this evaluation. This is an area that will be reviewed for the June 2014 Resource update. As part of data validation and verification for 2013 resource, review of analytical data for 130 drill holes was completed (10% of database). From these holes, 96% of the

• riginal assay source data was able to be located and verified against the contents of the database. No adjustment to analytical data was required.

Data importation into the resource database is documented through standard operating procedures and is guided by on import validations to prevent incorrect data capture/importation. Geological, structural and density determination data is directly captured in the resource database through a validation controlled interface using Toughbook computers. Primary data is stored in its source electronic form. Assay data is retained in both the original certificate (.pdf) form, where available, and the text files received from the

• laboratory. Data entry, validation and storage are discussed in the section on database integrity below.

Location of data points A topographic survey was conducted in January 2005 by Engineering Surveys using differential GPS which provided +/- 100mm accuracy on surface elevation. The correction from magnetic to mine plan grid is 6.3 degrees. All surface diamond and reverse circulation holes drilled prior to mining operations were recorded using MGA94_53 grid. This data was subsequently converted to truncated easting and northing grid coordinates to minimise the effects of inherent precision errors in mining software packages. An amount of 550,000 was subtracted from Eastings and 6,710,000 from Northings of data coordinates. In addition, a value of 10,000 was added to the RL coordinates to eliminate negative elevations. This truncated grid differs from the mine plan grid and as such a scaled transformation of data is required for use in the mining operation. Surface diamond and reverse circulation drill holes exhibit collar survey methods of DGSP1 (Differential GPS), TAPE (Tape and Compass from nearby DGSP1 station), SURV (survey department picked-up collar) and UNK (pick-up coordinates and appropriate ranking entered into GBIS but ‘unknown’ entered as method) type. In 2006 a differential GPS survey validation exercise was completed by Engineering Survey. No gross errors were found in collar locations at that time. The Mine Plan Grid has a common easting and northing origin at 56066.657E 12923.481N equivalent to MGA94_53 at 556066.657E 6712923.481N. Elevations are the same as the truncated MGA94_53 grid. All recent (post-2006) surface survey coordinates and underground survey coordinates were recorded in Mine Plan Grid. Underground survey co-ordinates were calculated from traversed survey down the Ankata/Malu declines from the surface. Historic surface down hole survey methods included use of a Reflex Tool, Ranger, Eastman Single Shot, Down Hole North Seeking Gyro and Down Hole Gyro. All underground drill holes were surveyed using a Reflex digital down hole camera unit. Camera units were calibrated weekly using an on-site survey test beds. Down hole surveys were recorded and entered into the database as magnetic bearing and converted within the database system to Mine Plan grid azimuths. All underground drill holes have a 15 metre survey measurement taken that must be within site tolerances of 0.5 (half) degree on dip measurements and 1 (one) degree on azimuth to plan. Subsequent down hole survey measurements are taken at 30 metres and 30 metre intervals progressively down the hole path.

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TABLE 1 – SECTION 1: SAMPLING TECHNIQUES AND DATA

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Data spacing and distribution The deposit was drilled from surface predominantly on nominal north-south 50m sections, however areas of greater than 100 x 100 metre drill spacing do exist. Drilling into the Ankata deposit was also conducted on several west-east sections to better inform the structural complexity in that area. Underground diamond drill holes were generally designed to intersect the Malu resource close to perpendicular. Areas drilled within the Malu Underground Resource have been closed up to an approximate 50 x 50m resource spacing with additional infill grade control drilling down to an approximate 25 x 25 metre spacing. Resource delineation drilling is ongoing in this resource. Underground diamond drill holes within Ankata Resource have been designed to infill the resource area to 25 x 30m spacing. Additional infill grade control drilling has closed drill spacing down to 12.5 x 15m spacing. Underground diamond drill holes within the Kalaya Resource have been designed to reduce drill spacing down to between a 100 x 100m to 200 x 200m resource spacing. The data spacing and distribution in the resource areas has been sufficient to support geological and grade continuities for the purposes of generating mineral resources and their classification. Drill hole assay data was broken down into geological and mineralised domains as defined by wireframe boundaries, and then sample compositing was applied. A sample composite length of 2m was used for Malu and a composite length of 1m was used for Ankata and Kalaya. Orientation of data in relation to geological structure In the Malu and Kalaya Resource areas, the surface diamond and RC drilling was conducted generally perpendicular to the strike of mineralisation. Mineralisation dip is sufficiently steep that drilling from either side relative to the strike will have introduced minimal bias. Surface diamond drilling in the Ankata resource area created the potential for sampling bias due to the complex morphology of the mineralisation. Subsequent drilling from underground has significantly increased the size of the sample data set for Ankata to the extent that any bias from the original surface drilling in the Ankata area is no longer material. Underground diamond drilling was completed in fans from the available drilling platforms adjacent to the orebody. Drilling was designed to intersect the orebody close to perpendicular to the strike of the mineralisation as possible to prevent the generation of sampling bias. Sample security Access to the Prominent Hill site is secured with a manned security gatehouse. No external access to the Prominent Hill site is possible without direct authorisation from the site Management. Diamond core is drilled by the drilling contractor and brought to the Prominent Hill core processing facilities by a diamond driller or collected from the drill rig by a geology technician. Core is measured, geotechnically and geologically logged and cut and sampled by employees of OZ Minerals at the same facility. Samples were dispatched from Prominent Hill site to Bureau Veritas Adelaide (also formally known as Amdel) through a contracted transport and logistics operator. Sample documentation is delivered digitally to Bureau Veritas where samples are physically verified against the documentation to confirm sample receipt. Audits or reviews An informal review of underground diamond drill hole sampling and current QAQC procedures was completed in 2013 by Xstract Mining Consultants Pty Ltd. A number

• f operational and technical adjustments were identified to improve validation of collected data, interpretation of data and management of QAQC practices. These

improvements have been updated into standard operating procedures. An external review of the 2011 Mineral Resource was conducted by AMC Consultants in November 2011. No fatal flaws were identified. External reviews of the Prominent Hill resources have been conducted by AMC Consultants and Behre Dolbear Australia since 2006.

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TABLE 1 –SECTION 2: REPORTING OF EXPLORATION RESULTS

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CRITERIA COMMENTARY

Mineral tenement and land tenure status The Prominent Hill deposits are located in South Australia in Mining Lease ML6228, which was granted in August 2007 and is 100% owned by OZ Minerals. ML6228 is currently in good standing. All agreements with stakeholders are in good standing and will endure for the life of the Ore Reserve. Exploration done by

• ther parties

Minotaur Resources Limited announced the discovery of Cu-Au mineralisation at Prominent Hill in November 2001. Oxiana joint ventured into the property in September, 2003 and funded the mineralisation drill out to Inferred Resource status. In February 2005 Oxiana purchased 100% of the project and by June 2005 had drilled the known mineralisation between 555400mE and 556200mE on a 50m X 50m grid to a depth of 450m below cover. The Ankata deposit was discovered by step out drilling to the west in 2007. Significant surface drilling from 2009 to 2011 from both hanging wall and footwall locations within the Malu active mining area, targeting along strike and down dip extensions of the Malu and Ankata deposits subsequently identified the Kalaya mineralisation between the two deposits. Geology The Prominent Hill iron-oxide copper gold (IOCG) deposit is located in the Mount Woods Inlier, in the north-eastern portion of the Archaean to Mesoproterozoic Gawler Craton, South Australia. Copper-gold-silver (-U-REE) mineralisation at Prominent Hill is hosted within haematitic breccias of felsic volcanic, sandstone, shale, and dolomite. The Peabrain area of the Ankata deposit is located at the southern end of the deposit. Copper- gold mineralisation is hosted within haematitic breccias with associated mineralisation hosted in dacitic volcanics. Drill hole Information All drilling in the Peabrain area is undertaken on an initial 25 x30m Resource Delineation(RD) spacing, before subsequent infill Grade Control(GC) drilling at a 12.5 x 15m spacing. All holes reported were drilled via BQTK sized core. For hole details pertaining to this release including collar and other relevant details refer to the table on p77. Comments relating to drill hole information relevant to the Mineral Resource estimate can be found in Section 1 – “Sampling techniques”, “Drilling techniques” and “Drill sample recovery”. Data aggregation methods All assay intersections reported for the Peabrain area are reported based on a length weighted average grade for the intersection using parameters of greater than 0.5%Cu with < 2m of internal dilution. Au grades were determined by the defined Cu grade interval, ie they were not calculated independently. Comments relating to data aggregation methods relevant to the Mineral Resource estimate can be found in Section 1 – “Sampling techniques”, “Drilling techniques” and “Drill sample recovery”.

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TABLE 1 –SECTION 2: REPORTING OF EXPLORATION RESULTS

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Relationship between mineralisation widths and intercept lengths The geometry of the reported Peabrain mineralisation is interpreted to strike north-south and to exhibit variable dips from 45 degrees to the west to sub vertical. All intersection lengths reported in this presentaion are down-hole lengths and not true widths. Interpreted true widths in Peabrain vary from 5 to 50m depending on location within the Peabrain shape. Indicative intercept angles are shown in the accompanying diagram. Diagrams Please refer to the diagrams within this presentation. Balanced reporting A list of all new significant drill intersections post the 2013 Resource estimate for Peabrain have been included within the accompanying presentation. Other substantive exploration data No additional exploration data is considered material to this release at this stage. Further work The current drilling program will continue to test the Peabrain area on the existing drill spacing with the program expected to continue into Q3 2014. Further results will be reported as they become available.

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