ASX & MEDIA RELEASE

Sims update following Victorian Waste-to-Energy Framework Release

10 December 2021

Sims Limited (“Sims or the Company”) today provided an update on the status of its proposed Resource Renewal facility in Campbellfield, Victoria, Australia (“the Facility”).

Following the announcement in October of lodgement of the Development Licence Application with the Environment Protection Authority Victoria and Planning Permit Application with the Hume City Council for the Facility, Sims has decided it is prudent to pause further work on the Facility at this stage to assess considerations arising from the November 2021 release of the Victorian Government’s Waste-to-Energy Framework (“framework”).

Sims confirmed it remains committed to developing the Facility in Victoria and will continue engaging with the Victorian Government and the new waste and recycling regulator once established to continue progressing its proposal.

Commenting on today’s announcement, Group CEO and Managing Director, Alistair Field, said: “We view the goals outlined in the framework by the Victorian Government as very much in alignment with the aims of our Resource Renewal Programme and focus on achieving our purpose; create a world without waste to preserve our planet”.

“We look forward to engaging with the regulator in 2022 and to applying for a cap licence when the regulator opens the expressions of interest process. This is to give certainty for us to invest in the development of this key facility” Mr Field said.

“In parallel, we will continue advancing the construction of the pilot resource renewal facility located in Rocklea, Queensland, which is progressing as planned. It was granted development approval in July 2021 and is expected to be operational in the calendar year 2022”, he said.

Sims Resource Renewal was formally established in FY21 to accomplish our shared purpose, create a world without waste to preserve our planet, by transforming more than one million tonnes of the residue material from the metal recycling process each year into new, useful products for society.