Earnings release
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KEY FEATURES ZIMPLATS QUARTERLY REPORT FOR THE PERIOD ENDED 30 JUNE 2026 • This ASX announcement was approved and authorised for release by the board of directors of Zimplats Holdings Limited (‘Zimplats’ or the ‘Company’) • The report covers the consolidated entity of Zimplats and its subsidiaries (together the ‘Group’) • The report is presented in United States dollars (US$) • FY in this report refers to the Group’s financial year, which ends on 30 June. One lost-time injury (LTI) was recorded in the quarter Mined volumes increased by 1% and 4% from the prior quarter and year-on-year, respectively 6E head grade was stable relative to the prior quarter and decreased by 2% year-on- year Milled volumes increased by 9% and 6% from the prior quarter and year-on-year, respectively 6E metal in final product increased by 179% and 14% from the prior quarter and year-on- year, respectively Operating cash costs per 6E ounce decreased by 13% from the prior quarter, and were 38% higher year-on-year
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ZIMPLATS QUARTERLY REPORT FOR THE PERIOD ENDED 30 JUNE 2026 2 SAFETY One lost-time injury (LTI) was recorded during the quarter. Management remains focused on strengthening critical controls, embedding a proactive safety culture and improving the safety performance in pursuit of Zimplats’ sustainable zero-harm goal. PRODUCTION Mined volumes benefitted from the improved availability of trackless mobile machinery and increased by 1% and 4% from the prior quarter and year-on-year, respectively. The South Pit Mine was depleted at the end of June 2026. 6E head grade was unchanged from the prior quarter and decreased by 2% year-on-year, primarily due to internal dilution associated with re-establishment activities across geological structures. Milled volumes increased by 9% and 6% from the prior quarter and year-on-year, respectively, owing to improved mining volumes and stable plant operations . The impact of lower grade ore and adjustments to m ass pull resulted in min or variations in concentrator recoveries. 6E metal in concentrate increased by 9% from the prior quarter to 173 186 ounces and was 3% higher year -on-year because of improved throughput. 6E metal production in converter matte increased by 179% from the prior quarter to 213 190 ounces and was 14% higher year-on-year primarily due to processing 63 000 6E ounces of concentrate inventory accumulated during the furnace maintenance in Q3. Consequently, concentrate inventory decreased to 24 000 6E ounces at quarter-end. The furnace is scheduled for major maintenance in September and October 2026, resulting in further inventory buildup, which is planned to be released by the end of Q3 FY2027. JUNE QUARTER MARCH QUARTER % JUNE QUARTER % 2026 2026 CHANGE 2025 CHANGE MINING Ore mined Tonnes (000) 2 118 2 094 1 2 046 4 6E head grade g/t 3.29 3.28 0 3.35 (2) PROCESSING Ore milled Tonnes (000) 2 098 1 926 9 1 985 6 6E concentrator recovery % 78.0 78.5 (1) 78.6 (1) 6E in concentrate Ounces 173 186 159 379 9 167 963 3 METAL IN FINAL PRODUCT Platinum Ounces 97 950 35 525 176 86 028 14 Palladium Ounces 84 035 29 694 183 73 326 15 Gold Ounces 10 570 3 863 174 10 123 4 Rhodium Ounces 9 058 3 215 182 8 250 10 Ruthenium Ounces 7 867 2 748 186 6 352 24 Iridium Ounces 3 710 1 295 186 2 867 29 6E TOTAL 213 190 76 340 179 186 946 14 Silver Ounces 20 467 6 485 216 20 984 (2) Nickel Tonnes 2 030 684 197 1 918 6 Copper Tonnes 1 539 559 175 1 471 5 Cobalt Tonnes 23 4 475 23 0
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ZIMPLATS QUARTERLY REPORT FOR THE PERIOD ENDED 30 JUNE 2026 3 FINANCIAL Total operating cash costs increased by 25% from the prior quarter and by 51% year-on-year, driven primarily by higher production volumes across mining, processing and smelting operations. This included the impact of additional discretionary spend on maintenance and infrastructure in the quarter. Operating costs in the comparative period benefited from the receipt of accumulated power credits from the 35MW Phase 1 solar plant. JUNE MARCH % CHANGE JUNE % CHANGE QUARTER QUARTER QUARTER 2026 2026 2025 Total operating cash costs US$000 207 260 166 232 (25) 137 565 (51) Transfer from/(to) closing stocks US$000 33 976 (67 092) 151 16 137 (111) Cash costs of metal produced US$000 241 236 99 140 (143) 153 702 (57) Operating cash cost per 6E ounce US$ 1 132 1 299 13 822 (38) EXPLORATION Exploration activities focused on analysing drill core samples generated in the prior period. There was no drilling in the quarter. MAJOR PROJECTS UPDATE • Mupani Mine development and upgrade: The project is still on track to achieve full-scale production capacity of 3.6 million tonnes per annum by FY2029. Period -end cumulative expenditure was US$364 million , compared to the approved budget of US$386 million, with key underground mining development, construction and installation of equipment and infrastructure works advancing in line with the project schedule. • Smelter expansion and SO ₂ abatement: Delivery of the outstanding scope remains on track, with cumulative expenditure at period end totalling US$478 million, compared to the budget of US$544 million. • 45MW Phase 2A solar project: Strong progress was delivered during the period and the project remains on schedule for completion in FY2027. On completion, Zimplats’ total solar generation capacity will increase to 80MW. Cumulative expenditure reached US$45 million at period end, compared to a budget of US$54 million. • Tailings storage facility (TSF) expansion (Phase 1 and 2): Phase 1 of the project achieved technical completion within budget at a total cost of US$25 million. Phase 2 advanced well during the period, with US$8 million spent, bringing cumulative expenditure across both phases to US$33 million, compared to a budget of US$43 million. On completion, the project will secure concentrator operations through to FY2049. SHAREHOLDER INFORMATION Shareholder enquiries All enquiries relating to shareholdings should be directed to the share registry at: Computershare Registry Services Pty Ltd, GPO Box 2975, Melbourne Vic 2001, Australia. Tel: +61 3 9415 4000, Fax: +61 3 9473 2500
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ZIMPLATS QUARTERLY REPORT FOR THE PERIOD ENDED 30 JUNE 2026 4 Contact - Guernsey • Mrs. Jane de Jersey Tel: +44 1481 737 245, Fax: +44 1481 711 220, Email: jane.dejersey@wearecarey.com, Website: www.zimplats.com Contact - Australia • Ms. Kathrine Brown Tel: +61 2 9051 1632, Email: kathrine.brown@zimplats.com.au Contact - Zimbabwe • Mrs. Patricia Zvandasara Tel: +263 4 886 888, Email: patricia.zvandasara@zimplats.com