OZ MINERALS PROMINENT HILL SITE VISIT

15 & 16 MAY 2014 WWW.OZMINERALS.COM

DISCLAIMERS

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.

OZ MINERALS • PAGE 2

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.

OZ MINERALS • PAGE 3

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.

OZ MINERALS • PAGE 4

CONTENTS

1. Site overview

2. Strategic planning 3. Costs 4. Geology

5. Open pit operations 6. Underground operations 7. Processing

8. Engineering

OZ MINERALS • PAGE 5

PROMINENT HILL LOCATION

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.

OZ MINERALS • PAGE 6

PROMINENT HILL COPPER GOLD OPERATION 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: Underground mining: Concentrate transport: Village services:

Thiess, Ausdrill Byrnecut, Boart Longyear Qube/Giacci Sodexo

*Refer to p3 for Malu Underground disclaimer OZ MINERALS • PAGE 7

PROMINENT HILL SITE

OPEN PIT

NORTHERN WASTE DUMP

SOUTHERN WASTE DUMP

ANKATA DEPOSIT AREA

TAILINGS STORAGE FACILITY PROCESSING PLANT

ROM PAD

Pit

MALU UNDERGROUND AREA

Waste Dumps VILLAGE

OZ MINERALS • PAGE 8

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. 21.92 19.73

Rate

• •

10.49 7.69 4.38 1.50

1.46

*

OZ MINERALS • PAGE 9

*

0.96

*

*

* Per millions hours worked

SITE CULTURE DEVELOPMENT STRATEGY

• • •

• •

Supports the OZ Minerals Values and site wide culture development. Strives for consistency between all areas. Drives continuous improvement in organisational culture and outcomes. Improved safety performance as an outcome. Complements the business strategy of key organisational alliances – Thiess, Byrnecut & Sodexo.

OZ MINERALS • PAGE 10

PROMINENT HILL COPPER PRODUCTION OUTLOOK

2013

2014

2015

Average 10,000 – 20,000t

2016

2017

Malu UG Resource*

95,000t +

95,000t +

95,000t + ~10,000t

75-80,000t

73,362t

(‘000t)

0

95,000t +

100

Malu Open Pit and Ankata Reserve*

Prominent Hill copper production profile

2018

*Refer to p3 for Production Outlook and Malu Underground disclaimer OZ MINERALS • PAGE 11

• 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*.

PROMINENT HILL GOLD PRODUCTION OUTLOOK

2013

2014

2015

2016

2017

2018

Malu Open Pit and Ankata Reserve* Malu UG Resource*

95,000oz +

95,000oz +

95,000oz +

Average 25,000-35,000oz

oz

~10,000

128,045oz

(‘000oz)

0

130-140,000oz

100

95,000oz +

Prominent Hill gold production profile

*Refer to p3 for Production Outlook and Malu Underground disclaimer OZ MINERALS • PAGE 12

• 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.

• High gold content within copper ore.

PROMINENT HILL 2014 QUARTER 1 – PERFORMANCE HIGHLIGHTS

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.

OZ MINERALS • PAGE 13

STRATEGIC PLANNING

PROMINENT HILL 2014 KEY OPERATIONAL STRATEGIC OBJECTIVES AND FOCUS

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

SHEC •High potential incidents and critical risk focus. •Safety ownership at all levels. •MATES program.

Projects •Maiden Malu Underground Reserve. •Site wide optimised, integrated LOM plan.

OZ MINERALS • PAGE 15

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.

Business Improvement

Costs

•34 active improvement projects across site. •Ongoing Malu Open Pit production and efficiency measures. •Process plant improvements.

•Whole of business focus on unit and total costs. •Open pit equipment demobilisation. •Contract renegotiations.

PROMINENT HILL LIFE OF MINE PLAN OPTIMISATION •Resource optimisation •Near mine extensional Drilling targeting areas of highest value

Resource value is being maximised through ongoing integrated LOM analysis.

•Scenario comparison for value, risk and opportunity •Outcomes are aligned to strategic objectives

OZ MINERALS • PAGE 16

•Mining sequence optimisation •Operational cut-off grade analysis •Malu project integration

Resource Development and Estimation

Mine Planning and Extraction

Whole of Operation Value Assessment

Mineral Processing

Outcomes are being implemented throughout the operation.

•Feed blend optimisation •Marketing requirements

PROMINENT HILL CURRENT LIFE OF MINE CONCEPT

*Refer

to p3 for Production Outlook and Malu Underground disclaimer.

OZ MINERALS • PAGE 17

•

LOM concept built on 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.

COSTS

OZ MINERALS • NOVEMBER 2009 • PAGE 18

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

OZ MINERALS • PAGE 19

OVERVIEW OF SITE PRODUCTION COSTS

MAR QTR 13

JUN QTR 13

A$m SEP QTR 13

DEC QTR 13

MAR QTR 14

Open Pit mining costs Ankata Underground mining costs Deferred mining Ore inventory adjust Total site processing costs Other direct cash costs

112.8 15.7 (33.5) (16.5) 28.1 9.5

121.1 14.4 (79.2) 11.2 26.3 9.7

131.2 17.4 (88.0) 15.7 24.8 9.4

129.0 18.0 (76.9) (9.6) 23.4 8.8

116.2 10.9 (68.4) (5.5) 23.6 7.6

Production Costs

116.1

103.5

110.6

92.7

84.4

Physicals Tonnes mined Malu OP (kt) Malu OP unit cost Tonnes mined Ankata (kt) Ankata UG unit cost Tonnes milled (kt) Payable lbs (m) Brook Hunt C1 USc/lb

18,298 $6.16 289 $49 2,355 20,474 $1.85

20,223 $5.98 303 $45 2,365 17,379 $1.95

23,836 $5.50 275 $63 2,486 17,390 $2.06

24,427 $5.28 336 $54 2,291 18,119 $1.34

22,249 $5.22 286 $37 2,281 18,182 $1.22

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. •

OZ MINERALS • PAGE 20

MALU OPEN PIT GROSS OPEN PIT EXPENDITURE TO DECREASE Tonnes & Gross A$ spend

KT 30

150.0

Mt 60

25

125.0

50

20

100.0

40

15

75.0

30

10

50.0

20

5

25.0

10

-

-

Q1

Q2

Q3

Tonnes mined Malu OP (kt)

•

• • •

Open Pit ore and waste movements

$Am

Q4 Open Pit Mining costs

Q1

0 2014 2015 2016 2017 2018 Open Pit waste hauled (Mt) Open Pit ore mined (Mt)

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.

OZ MINERALS • PAGE 21

OPEN PIT EXPENDITURE BY ACTIVITY & NATURE

•

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

OZ MINERALS • PAGE 22

MODELLING TOPICS 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.

OZ MINERALS • PAGE 23

ACCELERATED PRODUCTION -> HIGHER WORKING CAPITAL LOWER CASH AT 30/6; FULL YEAR CASH GUIDANCE REMAINS

H1 Compared to expectations

•

Better open pit performance with improved efficiencies and lower unit costs results in higher cash spend in H1.

ORE STOCKS

•

Good start to year leading to increased copper ore in stockpiles at end of H1.

CONCENTRATE STOCKS

•

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.

OPEN PIT MOVEMENT

RECEIVABLES PAYABLES • • •

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).

OZ MINERALS • PAGE 24

PROMINENT HILL GEOLOGY

PROMINENT HILL REGIONAL GEOLOGICAL SETTING

Total Magnetic Intensity image showing mine locations and regional geological features OZ MINERALS • PAGE 26

PROMINENT HILL LOCAL GEOLOGY – SHOWING MALU OPEN PIT AND ANKATA UNDERGROUND

Calc-silicate

Meta-sandstone

Malu Pit outline

Felsic Volcanic

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 VV V V V

Sandstone/Conglomerate

Ankata Deposit (at depth)

Skarn Granitoid Dolomite Argillite

Cu ore Sandstone

Au

Basalt/Andesite (Gawler Range Volcanics)

N OZ MINERALS • PAGE 27

0

metres

500m

PROMINENT HILL MALU OPEN PIT GEOLOGY

N

Lithology Domains (north-south)

Basement Contact = ~10100RL

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

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

OZ MINERALS • PAGE 28

ANKATA KEY LITHOLOGIES

DACITE

DACITE

OZ MINERALS • PAGE 29

HEMATITE BRECCIA

HEMATITE BRECCIA

CARBONACEOUS ROCK

CARBONACEOUS ROCK

PROMINENT HILL RESOURCES & RESERVES AS AT 30 JUNE 2013 Surface Stocks* Cu Stocks: 1Mt @ 0.7% Cu, 0.3g/t Au Au Resource: 6Mt @ 0.1% Cu, 0.8g/t Au

Ankata*

Malu Open Pit*

Cu Resource2: 9Mt @ 2.4% Cu, 0.4g/t Au

Cu Resource1: 43Mt @ 1.2% Cu, 0.5g/t Au

Reserve: 7.5Mt @ 2.0% Cu, 0.4g/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

Kalaya* Cu Resource2: 35Mt @ 1.3% Cu, 0.5g/t Au Au Resource3: 6Mt @ 0.0% Cu, 2.6g/t Au

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. 1

OZ MINERALS • PAGE 30

MALU OPEN PIT MINERALISATION Malu OP Resources: Copper-Gold 43Mt @ 1.2% Cu, 0.5g/t Au* Gold-Only 14.5Mt @ 1.0g/t Au* Hematite-Qtz Breccia Dolomite & Volcanics Prominent Hill Shear Zone Ultimate Pit Shell Design

N 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. OZ MINERALS • PAGE 31

* 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 UNDERGROUND MINERALISATION

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. Dolomite & Volcanics (Chalcocite mineralisation)

Prominent Hill Shear Zone

(Chalcocite and Bornite mineralisation)

Ultimate Pit Shell Design

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.

OZ MINERALS • PAGE 32

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

N

80m

Oblique View (looking down and south-east) of the main Cu domains in the Ankata Mine. Inset – showing view looking back north west. OZ MINERALS • PAGE 33

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 UNDERGROUND RESOURCE DRILLING PEABRAIN AREA – POTENTIAL FUTURE INCREMENTAL ORE ADDITION SECTION 11637.5mN Looking North Cu % Addition of Ankata, Kalaya and Malu UG Resources

Current Peabrain resource outline

Only a 6.8% reduction in resource ore tonnage since 2008. Peabrain 2013 Peabrain outline Resource Outline 2013 Resource

9845 Level

Addition of Ankata, Kalaya and Malu UG Resources

Current Pons Resource Outline

Net 92kt growth in contained Cu Metal since Current Peabrain 2008. Interpretation Refer to Reserves and Resources Disclaimer p4.

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

Cross section through the Peabrain area at Ankata showing recent drilling locations. OZ MINERALS • PAGE 34

ANKATA UNDERGROUND RESOURCE DRILLING PEABRAIN AREA – ISOMETRIC VIEW LOOKING NE

Current Peabrain Interpretation 9845 Drill Platform

Peabrain 2013 Resource Model of the Peabrain area at Ankata showing resource interpretation. Refer to p4 Reserves and Resources Disclaimer. OZ MINERALS • PAGE 35

OPEN PIT OPERATIONS

PROMINENT HILL MALU OPEN PIT MINE – H1 2014

OZ MINERALS • PAGE 37

PROMINENT HILL OPEN PIT MINING FLEET – H1 2014

• 4 x Liebherr R996 Excavators

Forecast De-Mobilisation - Mid 2014

• 1 x Liebherr R9350 Excavator

•

1 x Liebherr 996

• 46 x CAT 793 (220t) Trucks

•

1x CAT 793 Unit

• 2 x CAT 994 Loader for ROM

•

1 x Wheel Dozer

Current Fleet

Liebherr 996 Excavator

CAT 793 Mining Truck

Manufacturer: Caterpillar Manufacturer: Liebherr Machine Weight (Gross): ~384 tonnes Machine Weight: 659 t Engine: 16 Cyl water cooled V-engine (2) Engine: 16 Cylinder four stroke diesel engine Engine Output: 3000HP (2240kW) Engine Output: 2300HP (1750kW) Fuel Capacity: 13,000 litres Tray Capacity: ~ 218+ t Bucket Capacity (Vol): 29 – 33m3 Bucket Capacity (Mass): ~56t Target Production: ~3200 t/hr (material

• 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

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

OZ MINERALS • PAGE 38

PROMINENT HILL RESTRUCTURED OPEN CUT MINING TEAM Opencut Operations Manager

Production Department

Technical Services

Maintenance Department

HSET

Finance / Admin / Cost

D&B, Projects, Dewatering

Planning, Engineering, Geotechnical

Maintenance Planning, Supply / Inventory

OHS, Training and Environment

Travel, Accounts, KPIs

Greater integration of planning & production

76

7 32

OZ Minerals

39

Thiess Thiess Sub AusDrill Orica 563

Numbers of staff and contractors

OZ MINERALS • PAGE 39

Improved communication, issue resolution & shared learnings

PROMINENT HILL – LONG SECTION FACE POSITION AND LOM MINING SCHEDULE

Cross section through the Malu Open Pit showing mining stages. OZ MINERALS • PAGE 40

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. OZ MINERALS • PAGE 41

EXTENSIVE GEOTECHNICAL MONITORING COVERAGE RADAR Coverage

• 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. OZ MINERALS • PAGE 42

Prism Location Plan

• Approximately 540 prisms currently reading • Measurements are accurate to less2 than 540 prisms currently reading, using x 1mm computer controlled survey instruments Measurements are short accurate less than • Effective for both andtolong term1mm (3 dimensions xyz) monitoringof &measurement, analysis of movement.

PROMINENT HILL

MALU OPEN PIT - MINING AHEAD OF SCHEDULE

1 FLITCH AHEAD ON SCHEDULE 1 FLITCH AHEAD

1 BENCH AHEAD

1 BENCH AHEAD

Malu Open Pit showing face positions at end Q1 2014. Mining ahead of schedule compared to forecast positions in December 2013.

OZ MINERALS • PAGE 43

Dig rates higher with productivity improvements introduced including: • Integrated mine planning • Flitch/bench height adjustment • Off-camber ramps • Improved dispatch system

UNDERGROUND OPERATIONS

UNDERGROUND MINE - BASELINE STATISTICS

Ankata Reserves*

Ankata Ore Reserves - June 2013*

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.

OZ MINERALS • PAGE 45

ANKATA UNDERGROUND MINE - GROWTH

KATHLEEN

GLADYS

UPPER EVE LOWER EVE AUDREY

• Ankata mineralisation discovered 2007.

• Decline accessed Ankata orebody.

• Definition and Feasibility Study 2009-10.

• Underground orebody definition and grade control drilling.

• Project approved August 2010. • Decline started November 2010.

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

OZ MINERALS • PAGE 46

• Continued orebody definition and grade control drilling. • Achieved 1.2mt production.

• Mining depletion replaced in Ankata Ore Reserve.

UNDERGROUND ORGANISATIONAL CHART

OZ MINERALS • PAGE 47

ANKATA MINE – UNDERGROUND EQUIPMENT

• Volvo L120F Integrated Tool Carrier (5)

• Sandvik DD420 Twin Boom Jumbo (3)

• Normet Trans-Agi Concrete Truck (2)

• Sandvik LH621 Loader – 8m3 bucket (4)

• Normet Spraymec Fibrecrete Machine

• Komatsu HD465/605 – 7EO 57t Trucks (7)

• Atlas Copco GA160 Electric Compressor

• Atlas Copco MT6020 – 60t Trucks (2)

• Ingersoll Rand R160iE-A7.5 Electric Compressor

• Caterpillar 140M Grader

• Toyota Light Vehicles & Buses (30)

• Sandvik DL420 – 15 Solo Production Drill

• S264 Caterpillar 740 Water Truck

• Dieci Zues Telehandler

• Normet Charmec Explosive Charging Machine (2)

• Isuzu Flatbed Trucks (4)

OZ MINERALS • PAGE 48

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. OZ MINERALS • PAGE 49

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.

OZ MINERALS • PAGE 50

COMMUNICATIONS MAP

Multiple layers of communications for safety, monitoring and control Cameras

Proximity Detection

Pastefill pressure/stress sensors

Modular Fleet Management System PED System

ISS Seismic system

Mobile VOIP Phones

Orica CEBS system

RFID Tracking Digital VHF Leaky Feeder Radio

Wireless LAN access

Communications to and from UG • Drill Plans • WPIs • Servicing checklists & records • Inspections UG Access to CITECT

Pastefill monitoring & valve controls

Dust, gas, airflow monitoring OPTICAL FIBRE

BACKBONE

OZ MINERALS • PAGE 51

Fixed plant monitoring and control • Primary Fans • Pump-stations • Vent Fans • Vent controls • Stench Gas Release • Emergency Response

Fire Suppression alarms

VR4A SHAFT - EMERGENCY EGRESS HOIST

OZ MINERALS • PAGE 52

VR4A SHAFT - PASTE FILL PLANT

OZ MINERALS • PAGE 53

LONG HOLE OPEN STOPING METHOD

OZ MINERALS • PAGE 54

ANKATA 2014 MINE PLAN

Callosum orebody Pons Orebody Globus Orebody Peabrain Orebody Proposed Ankata Development and Production Q4 2013 and 2014. OZ MINERALS • PAGE 55

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* OZ MINERALS • PAGE 56

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 of 2014.

OZ MINERALS • PAGE 57

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. OZ MINERALS • PAGE 58

PROCESSING

OVERVIEW OF PROCESSING OPERATIONS FLOWSHEET GRINDING

CRUSHING AND STOCKPILE From Mine

Gyratory Crusher

Screen Crushed Ore

SAG Mill

FLOTATION Rougher Flotation Primary Cyclones

Regrind Cyclones Ball Mill Regrind Mill

Jameson Cell

Cleaner Flotation 1

Cleaner Flotation 2 Tailings Thickening Cleaner Flotation 3

CONCENTRATE DEWATERING AND STORAGE Pressure Filter Tailings Storage Facility

TAILINGS

OZ MINERALS • PAGE 60

Concentrate Loadout

Concentrate Thickener Concentrate Storage

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. 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.

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.

OZ MINERALS • PAGE 62

PERFORMANCE TO DATE MILL – THROUGHPUT

•

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

OZ MINERALS • PAGE 63

PERFORMANCE TO DATE MILL – AVAILABILITY

•

High mill availability with improvements still on-going

OZ MINERALS • PAGE 64

PERFORMANCE TO DATE FLOTATION - RECOVERY

OZ MINERALS • PAGE 65

PERFORMANCE TO DATE FLOTATION - GRADES

•

High grade copper concentrate

OZ MINERALS • PAGE 66

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

OZ MINERALS • PAGE 67

-

Reduced overall Fluorine in concentrate by 15 percent.

-

Reduced overall Uranium in concentrate by 10 percent to 20 percent.

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 one 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.

OZ MINERALS • PAGE 68

CASE STUDY IMPLEMENTED BUSINESS IMPROVEMENT PROJECTS

OZ MINERALS • PAGE 69

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.

OZ MINERALS • PAGE 70

ENGINEERING

PERFORMANCE TO DATE EXCELLENT CONCENTRATOR AVAILABILITY

Concentrator Availability 2010-2014

2014 Target

96

0.0

95 0.5

0.5

-0.2

94 1.1

93

0.6

% availability

92 91

2.0 0.3

90

94.9

94.4

94.1 92.4

89 90.1

88 87 Concentrator Availability 2010

Change in Planned Downtime 2011

OZ MINERALS • PAGE 72

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

PERFORMANCE TO DATE EXCELLENT CONCENTRATOR AVAILABILITY

100

Total Unplanned Downtime Events

Unplanned Downtime Events

89

• Decrease from 89 to 36 events

82

80 60

47 36

40

• Two record continuous SAG Mill runs of 48 and 64 days

20 0 2010

2011

2012

2013

Unplanned Equipment Related Downtime Hours 350 300

• Continuous improvement in equipment reliability and maintenance processes.

298

250 185

200 150

93

100

120

• Improvements in planning and executing major shutdowns

50 0 2010

OZ MINERALS • PAGE 73

2011

Unplanned Downtime Hours

2012

2013

SUMMARY

OZ MINERALS • NOVEMBER 2009 • PAGE 74

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.

OZ MINERALS • PAGE 75

JORC 2012 REPORTING INFORMATION TABLE 1: SECTIONS 1 & 2

OZ MINERALS • NOVEMBER 2009 • PAGE 76

ANKATA UNDERGROUND RESOURCE DRILLING SIGNIFICANT INTERSECTIONS 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

258.3

61.0

PH13GC6178

110

54204.03

11670.51

9851.72

-57

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

11649.64

9851.78

-75

270.3

71.0

74.6

3.6

2.6

0.14

11636.77

9852.00

-63

90.3

32.0

44.0

12.0

2.8

0.27

9845 Level

PH14GC6290

85

54204.81

PH14RD6267

115

54210.10

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

90.3

22.1

PH14RD6266

130

54209.68

11636.78

9852.09

-77

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

90.3

12.3

PH14GC6302

135

54209.26

11650.10

9851.82

-80

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