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SUMITOMO METAL MINING FY2026 Q1 ( Year Ending March 31 , 2027 ) Explanation Material of Financial Summary ( for Conference Call ) August 10th , 2026 Sumitomo Metal Mining Co. , Ltd. MINING THE FUTURE
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2 ⚫ Steadily promote the strategies set out in the 3-Year Business Plan 27 ⚫ Closely monitor global economic trends amid growing uncertainty (Middle East situation, data-center- related demand etc.). ⚫ Work to optimize the capital structure and improve capital efficiency, aiming to enhance corporate value over the medium to long term. 1. FY2026 Q1 Results [Increased Profit] Record-high first-quarter profit ⚫ Although there were cost increases due to effects of the Middle East situation, benefited from higher metal prices and the yen depreciation. ⚫ Demand for Advanced Materials used in electronic components for data-center-related applications continued to remain solid. ⚫ Profit before taxes is expected to be ¥324.0bn (+¥95.0bn compared to the previous forecast, the second-highest level on record). ⚫ Although cost increases due to effects of the Middle East situation are expected, metal prices are assumed to remain at a high level. ２. FY2026 Full Year Forecast in Aug. [Revised upward] ４. Future Initiatives ⚫ Conducted Repurchase of Own Shares (total amount: ¥20.0bn; from May 12, 2026 to May 28, 2026; 2,065,800 shares) All shares acquired in this repurchase are scheduled to be cancelled on September 30, 2026. ３. Shareholder Returns Executive Summary
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3 （JPY100M） FY2026/1Q Results FY2025/1Q Results Diff. Change Net Sales 5,401 3,796 +1,605 +42.3% Gross Profit １,０96 350 +735 +213.1% Profit before Tax 1,１80 379 +801 +211.3% Net Income＊2 879 274 +605 +220.8% Profit excl. period factors － － － － FY2026 FCST in Aug. FY2026 FCST in May Diff. Change 20,650 18,830 +1,820 +9.7% 3,270 2,370 +900 +38.0% 3,240 2,290 +950 +41.5% 2,160 1,390 +770 +55.4% 3,100-3,000 2,400-2,300 +700 － ⚫ Benefits from stable operations at major sites, higher metal prices, and yen depreciation ⚫ Demand remained solid for Advanced Materials used in electronic components for data-center-related applications. ⚫ FY2026（FCST. in May） ¥ 240.0bn - ¥ 230.0bn ⚫ FY2026（FCST. in Aug.） ¥ 310.0bn - ¥ 300.0bn ⚫ Copper and Gold prices are expected to remain at high levels. ⚫ “Unit cost differentials” are expected to worsen due to higher prices of operating materials, including energy, affected by the Middle East situation. ⚫ Demand for Advanced Materials used in electronic components for data-center-related applications is expected to remain solid. +¥70.0bn （＋）Improved market conditions (metal prices and foreign exchange rates), Steady Materials Business *2 Profit attributable to owners of parent Profit excluding period factors *1 *1 Calculated by excluding the impact of temporary gains/losses in a situation where metal prices or foreign exchange fluctuate, as well as the impact of special factors for the concerned period from profit before tax Highlights of Business Performance Year on Year Increase Profit Compared to the Previous Forecast Increase Profit
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4 [Future Initiatives] ✓ The situation remains highly uncertain, and if it persists for an extended period, the impact is expected to become significant. ✓ We will work together with our business partners to ensure the stable procurement of raw materials and operating materials. ✓ While striving to maintain a stable supply of products, we are also actively negotiating with customers to pass on higher costs. ✓ Regarding the impact of rising prices for raw materials and operating materials, including energy, due to the Middle East situation, this was reflected as “Unit cost differentials” in each segment in the FY2026 August forecast. (Note: In the FY2026 May forecast, it was included in “Others.”) → See the next slide. We will continue to closely monitor market trends and proactively take action. [Review of FY2026 1Q] ✓ Thanks to the cooperation of our business partners, there was no significant impact on the procurement of operating materials, including energy. ✓ On the other hand, prices rose and remained elevated in many cases. Topics: Middle East Situation -1
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5 By Segment FY2026 Forecast in May By cost factor Comparison with the previous forecast in May ✓ The impact of rising prices for operating materials, including energy, is expected to remain at the same level as the previous forecast (approx. ¥20.0 billion). ✓ Impact of rising energy prices → Expected to remain within the previous forecast ✓ Impact of rising prices for operating materials other than energy → Expected to exceed the previous forecast Note: The assumed prices and sensitivities are not disclosed. The profit/loss impact shown above is based on our forecasts. Topics: Middle East Situation -2 Mineral Resources Smelting & Refining EnergyNon- Energy Energy Non- Energy Mineral Resources Smelting & Refining FY2026 Forecast in May FY2026 Forecast in Aug. FY2026 Forecast in Aug.
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6 The Basic Policy of Financial Strategy and Shareholder Return Policy Basic policy of financial strategy From the perspective of financial soundness, the Company sets a consolidated equity ratio of 50% or more. Furthermore, to promote management that is conscious of cost of capital, it positions 55% as the appropriate level of the consolidated equity ratio and aims to adjust it to 58% by FY2027 through enhanced shareholder returns and other initiatives. Shareholder return policy 1. In principle, dividends from surplus shall be paid out with a consolidated payout ratio to be 35% or more, and while the consolidated equity ratio exceeds the Company-defined appropriate level of 55%, the minimum indicator is set at a DOE of 3.5%*. * DOE = Annual total dividends / Shareholders’ equity (The Company will use the finalized shareholders’ equity figure as of the end of the previous fiscal year when performing calculations, and it will exclude other components of equity from consolidated net assets attributable to owners of parent.) 2. Shareholder returns will consist primarily of dividends from surplus. The Company will flexibly implement measures, including repurchase of own shares, based on its business results and financial status after comprehensively considering investment opportunities and equity standards. For details, please also refer to the “Notice regarding Changes to the Basic Policy of Financial Strategy and Shareholder Return Policy, and Revisions Made to Dividend Forecast” announced on February 9, 2026. (announced on February 9, 2026)
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563 269 286 617 560 150 200 205 98 104 228 207 FY2022 FY2023 FY2024 FY2025 FY2026 (Forecast) Repurchase of Own Shares （¥100M） Total dividend amount （¥100M）（*） Dividends per Share （¥/share） 7 FY2025 FY2026 Dividends per Share ¥228/share ¥207/share Interim Dividend ¥65/share Forecast) ¥103/share Year-end Dividend ¥163/share Forecast) ¥104/share Repurchase of Own Shares ¥15.0bn ※¥20.0bn ※ The 2,065,800 repurchased shares are scheduled to be cancelled as of September 30, 2026. Shareholder Returns Total Return Ratio 35％ 45％ 173％ Payout ratio of 35% or more Payout ratio of 35% or more / a lower limit indicator of DOE1.5％ 43％ ー Dividend policy 767 760 Number of shares issued as of end of March 2026(excluding treasury stock) 270,549,733shares *Figures are rounded to the nearest ¥100 million. （DOE1.5％） （DOE1.5％） （Payout ratio of 35％） （Payout ratio of 35％） DOE of 3.5% as of the FY2026 May forecast Payout ratio of 35% or more / a lower limit indicator of DOE3.5％ Shareholder returns will be implemented based on the “Basic Policy on Financial Strategy” and the “Shareholder Return Policy.”
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8 Segment Profit (JPY100M) FY2026/1Q Results FY2025/1Q Results Diff. Change Mineral Resources 713 359 +354 +98.6% Smelting & Refining 365 -38 +397 ー Materials 92 25 +64 +228.6% Others/Diff. Adjustment 10 33 -42 -69.7% Total 1,180 379 +776 +211.3% FY2026 FCST in Aug. FY2026 FCST in May Diff. Change 2,560 1,960 +600 +30.6% 630 240 +390 +162.5% 180 40 +140 +350.0% -130 50 -180 ー 3,240 2,290 +950 +41.5% Metal Price/ Exchange-rate FY2026/1Q Results FY2025/1Q Results Diff. Cu（$/t） FY 13,324 9,519 +3,805 CY 12,852 9,346 +3,506 Ni（$/lb） FY 8.24 6.88 +1.36 Au（$/toz） FY 4,516 3,280 +1,236 CY 4,877 2,862 +2,015 Exchange- rate（¥/$） FY 159.50 144.60 +14.90 CY 156.86 152.60 +4.26 FY2026 FCST in Aug. FY2026 FCST in May Diff. 12,706 11,000 +1,706 12,794 11,463 +1,331 7.68 7.50 +0.18 4,204 4,200 +4 4,398 4,369 +29 159.87 155.00 +4.87 159.09 155.47 +3.62 FY26/2-4Q FCST in Aug. 12,500 12,775 7.50 4,100 4,239 160.00 159.83 * Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 has been revised from the figures previously disclosed. Business Performance, Market Trends
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FY2026 1Q Result (year ending March 31,2027) 9
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10 +541 +45 +243 +7 +67 +38 379 -140 1,180 FY2025 1Q Results Metal price Foreign exchange difference Inventory evaluation Quantity difference Unit cost differentials Materials Business Others FY2026 1Q Results Metal Price/ Exchange-rate FY2026/1Q Results FY2025/1Q Results Diff. Cu（$/t） FY 13,324 9,519 +3,805 CY 12,852 9,346 +3,506 Ni（$/lb） FY 8.24 6.88 +1.36 Au（$/toz） FY 4,516 3,280 +1,236 CY 4,877 2,862 +2,015 Exchange- rate（¥/$） FY 159.50 144.60 +14.90 CY 156.86 152.60 +4.26 Unit cost differentials （＋）Quebrada Blanca copper mine. （－）Cote gold mine, Copper mine.（excl. Quebrada Blanca copper mine）, Smelting & Refining (Copper, Ni) etc. Materials Business Demand remained solid for Advanced Materials used in electronic components for data-center-related applications. FY2026 1Q Result Year on Year (Figures in the water-fall chart are presented in units of JPY100 million.) Copper +２９２, Nickel +101, Gold etc. +148 Major Variance Factors Diff. +¥80.1bn
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11 Mineral Resources (JPY100M) FY2026/1Q Results FY2025/1Q Results Diff. Gross profit 517 247 +270 Equity in earnings of affiliated companies 175 87 +88 Segment profit 713 359 +354 Copper Mine Business 472 251 +221 Gold Mine Business etc. 241 108 +133 Production (100% basis) FY2026/1Q Results FY2025/1Q Results Diff. Au (t) Hishikari 0.9 0.9 ±0.0 Cote 2.3 2.3 ±0.0 Cu (kt) Morenci 73 71 +2 Northparkes 8 9 -1 Cerro Verde 95 96 -1 Quebrada Blanca 54 41 +13 Candelaria 30 36 -6 Sales (100% basis) FY2026/1Q Results FY2025/1Q Results Diff. Au (t) Hishikari 1.1 1.0 +0.1 Cote 2.7 2.6 +0.1 Cu (kt) Morenci 74 62 +12 Northparkes 7 9 -2 Cerro Verde 91 95 -4 Quebrada Blanca 68 40 +28 Candelaria 31 35 -4 Copper Mine Business Gold Mine Business Increased Profit Increased Profit ⚫ Profit increased due to higher Copper prices. ⚫ We worked to stabilize operations at the Quebrada Blanca copper mine. ⚫ Other copper mines were operating almost according to plan. ⚫ Profit increased due to higher Gold prices. ⚫ The Hishikari Mine operated almost according to plan. ⚫ We worked to stabilize and optimize operations at the Cote Gold Mine. FY2026 1Q Result Year on Year - Mineral Resources Segment * Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 has been revised from the figures previously disclosed.
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12 ⚫ Although purchasing of copper concentrate terms (TC/RC) deteriorated, sales premiums and by-product prices remained above the previous fiscal year’s levels, resulting in higher profit. ⚫ Although operating costs increased, Nickel and Cobalt prices remained above the previous fiscal year’s levels, resulting in higher profit. Production (kt) FY2026/1Q Results FY2025/1Q Results Diff. Copper E-Cu 106.6 109.4 -2.8 Nickel E-Ni 15.1 16.5 -1.4 Nickel Sulfate 17.1 18.0 -0.9 Fe-Ni 1.0 1.3 -0.3 CBNC 3.6 4.1 -0.5 THPAL 8.3 7.6 +0.7 Smelting & Refining (JPY100M) FY2026/1Q Results FY2025/1Q Results Diff. Gross profit 408 35 +373 Equity in earnings of affiliated companies 31 16 +15 Segment profit 365 -38 +403 Inventory evaluation P&L 145 -98 +243 Cu 132 -79 +211 Nickel 13 -19 +32 PBT excl. Inventory evaluation P&L 220 60 +160 Sales (kt） FY2026/1Q Results FY2025/1Q Results Diff. Copper E-Cu 105.8 121.1 -15.3 Nickel E-Ni 16.2 15.5 +0.7 Nickel Sulfate 17.7 18.2 -0.5 Fe-Ni 1.0 0.9 +0.1 CBNC 4.1 4.1 ±0.0 THPAL 6.5 5.1 +1.4 Copper Nickel Increased Profit (excl. Inventory evaluation P&L) Increased Profit (excl. Inventory evaluation P&L) FY2026 1Q Result Year on Year - Mineral Resources Segment * Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 has been revised from the figures previously disclosed.
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13 ⚫ Sales increased due to a rise in metal prices linked to sales prices. ⚫ Operations proceeded almost as planned. ⚫ Demand remained solid for Advanced Materials used in electronic components for data-center-related applications. NCA Materials (JPY100M) FY2026/1Q Results FY2025/1Q Results Diff. Sales 896 695 +201 Battery Materials 485 433 +52 Advanced Materials 411 262 +149 Segment profit 92 25 +67 Battery Materials 45 16 +29 Advanced Materials 47 9 +38 Faraday Rotator Battery Materials Advanced Materials Increased in Sales, Increased in Profit Increased in Sales, Increased in Profit FY2026 1Q Result Year on Year - Materials Segment * Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 has been revised from the figures previously disclosed.
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14 FY2026 Forecast (year ending March 31,2027)
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15 3,240 2,290 +891 +92 +191 - 26 - 426 +140 +88 FY2026 FCST in May Metal price Foreign exchange difference Inventory evaluation Quantity difference Unit cost differentials Materials Business Others FY2026 FCST in Aug. FY2026 Profit exclude period factors *1 Metal Price/ Exchange-rate FY2026 FCST in Aug. FY2026 FCST in May Diff. Cu（$/t） FY 12,706 11,000 +1,706 CY 12,794 11,463 +1,331 Ni（$/lb） FY 7.68 7.50 +0.18 Au（$/toz） FY 4,204 4,200 +4 CY 4,398 4,369 +29 Exchange- rate（¥/$） FY 159.87 155.00 +4.87 CY 159.09 155.47 +3.62 Diff. +¥95.0bn Reasons for deterioration in unit cost variance （+） Improved market conditions (metal prices and foreign exchange rates), Steady Materials Business Profit excluding period factors （+¥70.0bn. compared to FCST in May） We expect the impact of rising energy and operating material prices, affected by the Middle East situation, to continue. Note 1: In the May forecast, the impact of the Middle East situation was included in “Others,” but in the August forecast, we reviewed it again and reclassified it as “Unit cost diffrentials.” Note 2: The improvement in “Others” includes the impact of higher sulfuric acid prices in copper smelting, where sulfuric acid is produced and sold. On the other hand, in nickel smelting, sulfuric acid is used as an operating material, which leads to deterioration in “Unit cost differentials.” Temporary factor ¥310.0～¥300.0bn Effects of Middle East Situations (approx. ¥20.0 billion, Note 1), Higher sulfuric acid prices (Note 2), etc. （ー） Diff. Adjustment etc. FY2025 Full Year Forecast Aug. vs May (Figures in the water-fall chart are presented in units of JPY100 million.) Copper +792, Nickel +71, Gold etc. +28 *1 Calculated by excluding the impact of temporary gains/losses in a situation where metal prices or foreign exchange fluctuate, as well as the impact of special factors for the concerned period from profit before tax
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16 Mineral Resources (JPY100M) FY2026 FCST in Aug. FY2026 FCST in May Diff. Gross profit 1,790 1,460 +330 Equity in earnings of affiliated companies 800 500 +300 Segment profit 2,560 1,960 +600 Copper Mine Business 1,850 1,320 +530 Gold Mine Business etc. 710 640 +70 Production (100% basis) FY2026 Plan in Aug. FY2026 Plan in May Diff. Au (t) Hishikari 3.5 3.5 ±0.0 Cote 12.5 12.5 ±0.0 Cu (kt) Morenci 314 314 ±0 Northparkes 33 33 ±0 Cerro Verde 389 389 ±0 Quebrada Blanca 227 227 ±0 Candelaria 134 134 ±0 Sales (100% basis) FY2026 Plan in Aug. FY2026 Plan in May Diff. Au (t) Hishikari 3.5 3.5 ±0.0 Cote 12.9 12.9 ±0.0 Cu (kt) Morenci 322 319 +3 Northparkes 32 32 ±0 Cerro Verde 384 384 ±0 Quebrada Blanca 227 227 ±0 Candelaria 134 134 ±0 ⚫ Copper prices are expected to rise. ⚫ Operations are expected to proceed almost as planned. ⚫ Continue mitigation measures for the tailings management facility at the Quebrada Blanca copper mine. ⚫ Gold prices are expected to rise. ⚫ Operations are expected to proceed almost as planned. Copper Mine Business Gold Mine Business Increase Profit Increase Profit FY2026 Full Year Forecast Aug. vs May - Mineral Resources Segment
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17 Smelting & Refining (JPY100M) FY2026 FCST in Aug. FY2026 FCST in May Diff. Gross profit 1,030 680 +350 Equity in earnings of affiliated companies 65 60 +5 Segment profit 630 240 +390 Inventory evaluation P&L 221 30 +191 Cu 247 60 +187 Nickel -26 -30 +4 PBT excl. Inventory evaluation P&L 409 210 +199 Increase Profit (excl. Inventory evaluation P&L) Decrease Profit (excl. Inventory evaluation P&L) Copper Nickel ⚫ Copper and Gold prices are expected to rise. ⚫ We estimate profit to be supported by sales premiums and by-products. ⚫ Nickel and Cobalt prices are expected to rise. ⚫ We estimate increased costs, including higher prices for operating materials and other factors. Production (kt) FY2026 Plan in Aug. FY2026 Plan in May Diff. Copper E-Cu 428.2 446.9 -18.7 Nickel E-Ni 64.7 64.7 ±0.0 Nickel Sulfate 58.4 56.9 +1.5 Fe-Ni 5.0 4.6 +0.4 CBNC 16.3 19.0 -2.7 THPAL 29.5 29.5 ±0.0 Sales (kt） FY2026 Plan in Aug. FY2026 Plan in May Diff. Copper E-Cu 424.4 446.8 -22.4 Nickel E-Ni 64.7 64.7 ±0.0 Nickel Sulfate 58.7 56.4 +2.3 Fe-Ni 5.0 4.7 +0.3 CBNC 16.3 19.0 -2.7 THPAL 29.5 29.5 ±0.0 FY2026 Full Year Forecast Aug. vs May - Smelting & Refining Segment
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18 Materials (JPY100M) FY2026 FCST in Aug. FY2026 FCST in May Diff. Sales 3,560 3,050 +510 Battery Materials 1,910 1,500 +410 Advanced Materials 1,650 1,550 +100 Segment profit 180 40 +140 Battery Materials 80 -30 +110 Advanced Materials 100 70 +30 NMC ⚫ Continue discussions with customers regarding the timing of the replacements of product types. ⚫ Proceed with preparations for the replacements of product types. ⚫ Demand for Advanced Materials used in electronic components for data-center-related applications is expected to remain solid. Battery Materials Advanced Materials Increase in Sales, Increase in Profit Increase in Sales, Increase in Profit Concept model for agriculture, "HOPE WEAR for Farm," utilizing SOLAMENTTM. FY2026 Full Year Forecast Aug. vs May - Materials Segment
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Change Up / Down of PBT for FY2026 Cu ±100$/t 32 Ni ±10￠/lb 13 Au ±100$/toz 36 ¥／＄ ±1¥/$ 22 19 Sensitivity for FY2026 Forecast in August （JPY100M） (Note. 1) USD/JPY translation include RC-related and Conversion rate of overseas consolidated / equity-method affiliate companies' profit. (Note. 2) Inventory evaluation is not included.
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20 MEMO
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Gold Price（CY2000～） 60 80 100 120 140 160 180 00/1 03/1 06/1 09/1 12/1 15/1 18/1 21/1 24/1 27/1 0 1,000 2,000 3,000 4,000 5,000 00/1 03/1 06/1 09/1 12/1 15/1 18/1 21/1 24/1 27/1 ($/Toz) 21 Exchange Rate （USD/JPY） （CY2000～） (￥/$) Non-ferrous Metal Prices and Exchange Rates （USD/JPY, Au）
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0 3,000 6,000 9,000 12,000 00/1 03/1 06/1 09/1 12/1 15/1 18/1 21/1 24/1 27/1 22 15,000 25,000 35,000 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Produciton Usage ($/t) Forecast (kt) Copper Price（CY2000～） Copper Supply and Demand（CY2017～） Non-ferrous Metal Prices and Exchange Rates （Cu） Source: Compiled by our company from the following publications: - International Copper Study Group, "Release of ICSG 2024 Statistical Yearbook" (October 30, 2025), for data from 2017 to 2024 - International Copper Study Group, "ICSG Copper Market Forecast 2026-2027" (April 23, 2026), for data from 2025 to 2027
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0 5 10 15 20 25 00/1 03/1 06/1 09/1 12/1 15/1 18/1 21/1 24/1 27/1 Nickel Price（CY2000～） 23 1,500 2,500 3,500 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Production Usage Forecast Nickel Supply and Demand（CY2017～） ($/lb) (kt) Non-ferrous Metal Prices and Exchange Rates （Ni） Source: Compiled by our company from the following publications: - JOGMEC, "Mineral Resources Material Flow 2022: Nickel" (published January 25, 2024), for data from 2017 to 2021 - International Nickel Study Group, "INSG April 2025 Meetings Press Release" (April 24, 2024), for data from 2022 - International Nickel Study Group, "INSG April 2026 Meetings Press Release" (April 22, 2026), for data from 2023 to 2026
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Mineral Resources and Smelting＆Refining Segment - Major Sites 24 Metal Name *1 Country Status Operating Company Our equity interest recognition of profit or loss FY/CY Gold Hishikari Japan Operating Sumitomo Metal Mining 100% Consolidated FY Cote Canada Operating IAMGOLD 30% Consolidated CY Copper Morenci U.S. Operating Freeport-McMoRan 25% Consolidated CY Cerro Verde Peru Operating Freeport-McMoRan 16.8% Equity-method CY Quebrada Branca Chile Operating Teck Resources 25% Equity-method CY Candelaria/Ojos Chile Operating Lundin Mining 16% Equity-method CY Northparkes Australia Operating Evolution Mining 13.3% Consolidated CY Winu Australia in FS Rio Tinto 30% － － Cote Morenci Cerro Verde Quebrada Blanca Ojos Del Salado Candelaria Hishikari Northparkes Winu PJ Kalgoorlie Nickel PJ Copper Niihama Toyo CBNC/Taganito *1 Includes company names, JV names, and project names. Mineral Resources Gold Copper Nickeｌ Smelting＆Refining Project Copper Nickeｌ * As of June 30, 2026
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Appendix 25
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26 １．Comparison of FY2026 1Q Results vs FY2025 1Q Results ＜Financial Results＞ JPY 100M ＜Average Metal Price/Exchange-rate＞ FY202６ FY2025 FY202６ FY2025 １Q １Q Diff. １Q １Q Diff. Results Results FY/CY Results Results Net sales 5,401 3,796 +1,605 Cu ($/t) FY 13,324 9,519 +3,805 Gross profit 1,096 350 +746 CY 12,852 9,346 +3,506 Profit before tax 1,180 379 +801 Ni ($/lb) FY 8.24 6.88 +1.36 Net profit 879 274 +605 Au ($/toz) FY 4,516 3,280 +1,236 CY 4,877 2,862 +2,015 Co ($/lb) FY 25.65 15.23 +10.42 \/US$ FY 159.50 144.60 +14.90 CY 156.86 152.60 +4.26 ＜Prof it Before Tax by Segment＞ JPY 100M ＜Notes in Prof it Before Tax＞ JPY 100M FY202６ FY2025 FY202６ FY2025 １Q １Q Diff. Segment Notes １Q １Q Diff. Results Results Results Results Mineral Resources 713 359 +354 Mineral Resources None - - - Smelting & Refining 365 -38 +403 Smelting & Refining Inventory evaluation 145 -98 +243 Materials 92 25 +67 Materials None - - - Others -4 -2 -2 Diff. Diff. Adjustment 14 35 -21 Adjustment -1 33 -34 Profit before tax 1,180 379 +801 JPY 100M FY2025 Quantity Unit cost Materials Other gain/loss on FY202６ １Q Cu Ni・Co Au Inventory difference differentials Business foreign exchange Others １Q Results Price Price Price etc. evaluation (Other Financial Income etc.) Results 379 +292 +101 +148 +243 +7 -140 +67 -34 +72 1,180 ＜Major Factors in "Others" +72 in Analysis of Change＞ Positive factors: By-products, Timing differences and unrealized profits Negative factors: None difference +45 Other gain/loss on foreign exchange (Other Financial Income etc.) <Analysis of Changes in Profit Before Tax +801 by Variance Factors＞ ※ Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 through Q4 has been revised from the figures previously disclosed. Metal Price/Exchange Foreign exchange
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27 2．Comparison of FY2026 1Q Results vs FY2025 1Q Results by Segment-1 ＜Mineral Resources＞ Gross Profit JPY 100M Production and sales volume FY2026 FY2025 １Q １Q Au:ｔ、Cu:kt FY2026 FY2025 Diff. FY2026 FY2025 Diff. Results Results 100% basis １Q １Q １Q １Q Hishikari +78 +4 +60 +16 0 -2 0.9 0.9 ±0.0 1.1 1.0 +0.1 Cote +64 +1 +80 +3 -18 -2 2.3 2.3 ±0.0 2.7 2.6 +0.1 Morenci / Northparkes +110 +5 +111 +6 -16 +4 73 71 +2 74 62 +12 Others/Diff. Adjustment +18 +18 8 9 -1 7 9 -2 Total 517 247 +270 Equity in earnings of affiliated companies JPY 100M FY2026 FY2025 Diff. １Q １Q Cerro Verde 108 85 +23 95 96 -1 91 95 -4 Quebrada Blanca -39 -54 +15 54 41 +13 68 40 +28 Candelaria/Ojos 58 33 +25 30 36 -6 31 35 -4 Others/Diff. Adjustment 48 23 +25 Total 175 87 +88 Metal price/Exchange rates Segment Profit JPY 100M FY/CY FY2026 FY2025 Diff. FY2026 FY2025 Diff. １Q １Q １Q １Q Cu ($/t) FY 13,324 9,519 +3,805 Copper Mine Business 472 251 +221 CY 12,852 9,346 +3,506 Gold Mine Business etc. 241 108 +133 Au ($/toz) FY 4,516 3,280 +1,236 Total 713 359 +354 CY 4,877 2,862 +2,015 Exchange rate FY 159.50 144.60 +14.90 (\/$) CY 156.86 152.60 +4.26 ※ Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 through Q4 has been revised from the figures previously disclosed. CerroVerde (Cu) Quebrada Blanca (Cu) Candelaria/Ojos (Cu) Production Sales Hishikari (Au) Cote (Au) Morenci (Cu) Northparkes (Cu) OthersDiff. Quantity Price Exchange Cost@
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28 2．Comparison of FY2026 1Q Results vs FY2025 1Q Results by Segment-2 ＜Smelting & Refining＞ Gross Profit JPY 100M Production and sales volume （kt） FY2026 FY2025 １Q １Q FY2026 FY2025 Diff. FY2026 FY2025 Diff. Results Results １Q １Q １Q １Q Copper +307 -6 +20 -14 +211 +96 E-Cu 106.6 109.4 -2.8 105.8 121.1 -15.3 Nickel +75 -3 +101 -68 +32 +13 E-Ni 15.1 16.5 -1.4 16.2 15.5 +0.7 Others/ Diff. Adjustment*1 -9 0 -9 Nickel Sulfate 17.1 18.0 -0.9 17.7 18.2 -0.5 Total 408 35 +373 -9 +121 -82 +243 +100 Fe-Ni 1.0 1.3 -0.3 1.0 0.9 +0.1 *1 Others consisits mainly the eliminations of transactions within the segment. CBNC 3.6 4.1 -0.5 4.1 4.1 ±0.0 THPAL 8.3 7.6 +0.7 6.5 5.1 +1.4 Equity in earnings of affiliated companies Inventory evaluation P&L JPY 100M JPY 100M Metal price/Exchange rates FY2026 FY2025 Diff. FY2026 FY2025 Diff. FY/CY FY2026 FY2025 Diff. １Q １Q １Q １Q １Q １Q Copper 22 12 +10 Cu 132 -79 +211 Cu ($/t) FY 13,324 9,519 +3,805 Nickel 9 4 +5 Ni 13 -19 +32 Ni ($/lb) FY 8.24 6.88 +1.36 Others/ Diff. Adjustment 0 0 0 Others 0 0 0 Au ($/toz) FY 4,516 3,280 +1,236 Total 31 16 +15 Total 145 -98 +243 Co($/lb) FY 25.65 15.23 +10.42 Exchange rate (\/$) FY 159.50 144.60 +14.90 Segment Profit JPY 100M FY2026 FY2025 Diff. １Q １Q Total 365 -38 +403 ※ Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 through Q4 has been revised from the figures previously disclosed. Production Sales Diff. Quantity Price Cost@ Inventory Others
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29 2．Comparison of FY2026 1Q Results vs FY2025 1Q Results by Segment-3 ＜Materials＞ Net sales JPY 100M ＜Others/ Diff. Adjustment＞ JPY 100M FY2026 FY2025 Diff. FY2026 FY2025 Diff. １Q １Q １Q １Q Results Results Results Results Battery Materials 485 433 +52 Advanced 411 262 +149 Materials Applied Powder Materials 173 109 +64 Device Materials, Others 238 153 +85 Total 896 695 +201 -1 33 -34 We have reorganized the sub-segments of the Materials business from FY2026 Forecast Before ＜Reference: Interest Received, etc.＞ JPY 100M Applied Powder Materials FY2026 FY2025 Diff. Package Materials １Q １Q Crystal Materials, Others Segment Profit JPY 100M FY2026 FY2025 Diff. １Q １Q Battery Materials 45 16 +29 Advanced Materials 47 9 +38 Total 92 25 +67 ※ Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 through Q4 has been revised from the figures previously disclosed. Total Financial Income (Interest Received) After Applied Powder Materials Device Materials, Others 120 109 +11 -22 +42 Other income/cost (exchange gain/loss from settlement of other assets and liabilities) -21 55 -76 Finance income/cost (exchange gain/loss from valuation of financial assets and liabilities) 20
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30 3． Comparison of FY2026 Forecast in Aug. vs May ＜Financial Results＞ JPY 100M ＜Average Metal Price/Exchange-rate＞ FY2026 FY2026 FY2026 FY2026 FY2026 Full Year Full Year Diff. Full Year Full Year Diff. 2～4Q FCST in Aug. FCST in May FY/CY FCST in Aug. FCST in May FCST in Aug. Net sales 20,650 18,830 +1,820 Cu ($/t) FY 12,706 11,000 +1,706 12,500 Gross profit 3,270 2,370 +900 CY 12,794 11,463 +1,331 12,775 Profit before tax 3,240 2,290 +950 Ni ($/lb) FY 7.68 7.50 +0.18 7.50 Net profit 2,160 1,390 +770 Au ($/toz) FY 4,204 4,200 +4 4,100 CY 4,398 4,369 +29 4,239 Co ($/lb) FY 22.16 20.00 +2.16 21.00 \/US$ FY 159.87 155.00 +4.87 160.00 CY 159.09 155.47 +3.62 159.83 ＜Prof it Before Tax by Segment＞ JPY 100M ＜Notes in Prof it Before Tax＞ JPY 100M FY2026 FY2026 FY2026 FY2026 Full Year Full Year Diff. Segment Notes Full Year Full Year Diff. FCST in Aug. FCST in May FCST in Aug. FCST in May Mineral Resources 2,560 1,960 +600 Mineral Resources None - - - Smelting & Refining 630 240 +390 Smelting & Refining Inventory evaluation 221 30 +191 Materials 180 40 +140 Materials None - - - Others -30 -40 +10 Diff. Diff. Adjustment -100 90 -190 Adjustment -2 0 -2 Profit before tax 3,240 2,290 +950 JPY 100M FY2026 Quantity Unit cost Materials Other gain/loss on FY2026 Full Year Cu Ni・Co Au Inventory difference differentials Business foreign exchange Others Full Year FCST in May Price Price Price etc. evaluation (Other Financial Income etc.) FCST in Aug. 2,290 +792 +71 +28 +191 -26 -426 +140 -2 +90 3,240 ＜Major Factors in "Others" +90 in Analysis of Change＞ Positive factors: Transfer from “Effects of Middle East developments” to “Unit cos differentials” (\20.0 billion), By-products Negative factors: Timing differences and unrealized profits, Fluctuations in the profit and loss of equity-method affiliate companies (other than variance analysis) Metal Price/Exchange Foreign exchange difference +92 Other gain/loss on foreign exchange (Other Financial Income etc.) <Analysis of Changes in Profit Before Tax +950 by Variance Factors＞
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31 4． Comparison of FY2026 Forecast in Aug. vs May by Segment-1 ＜Mineral Resources＞ Gross Profit JPY 100M Production and sales volume FY2026 FY2026 Full Year Full Year Au:ｔ、Cu:kt FY2026 FY2026 Diff. FY2026 FY2026 Diff. FCST in Aug. FCST in May 100% basis Plan in Aug. Plan in May Plan in Aug. Plan in May Hishikari +28 0 +13 +22 +1 -8 3.5 3.5 +0.0 3.5 3.5 +0.0 Cote +2 0 +15 +10 -9 -14 12.5 12.5 +0.0 12.9 12.9 +0.0 Morenci / Northparkes +179 +4 +231 +16 -78 +6 314 314 ±0 322 319 +3 Others/Diff. Adjustment +121 +121 33 33 ±0 32 32 ±0 Total 1,790 1,460 +330 Equity in earnings of affiliated companies JPY 100M FY2026 FY2026 Diff. FCST in Aug. FCST in May Cerro Verde 520 410 +110 389 389 ±0 384 384 ±0 Quebrada Blanca -30 -80 +50 227 227 ±0 227 227 ±0 Candelaria/Ojos 200 170 +30 134 134 ±0 134 134 ±0 Others/Diff. Adjustment 110 0 +110 Total 800 500 +300 Segment Profit JPY 100M Metal price/Exchange rates FY2026 FY2026 Diff. FY/CY FY2026 FY2026 Diff. FCST in Aug. FCST in May FCST in Aug. FCST in May Copper Mine Business 1,850 1,320 +530 Cu ($/t) FY 12,706 11,000 +1,706 Gold Mine Business etc. 710 640 +70 CY 12,794 11,463 +1,331 Total 2,560 1,960 +600 Au ($/toz) FY 4,204 4,200 +4 CY 4,398 4,369 +29 Exchange rate FY 159.87 155.00 +4.87 (\/$) CY 159.09 155.47 +3.62 CerroVerde (Cu) Quebrada Blanca (Cu) Candelaria (Cu) Production Sales Hishikari (Au) Cote (Au) Morenci (Cu) Northparkes (Cu) OthersDiff. Quantity Price Exchange Cost@
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32 4． Comparison of FY2026 Forecast in Aug. vs May by Segment-2 ＜Smelting & Refining＞ Gross Profit JPY 100M Production and sales volume （kt） FY2026 FY2026 Full Year Full Year FY2026 FY2026 Diff. FY2026 FY2026 Diff. FCST in Aug. FCST in May Plan in Aug. Plan in May Plan in Aug. Plan in May Copper +462 -19 +16 -15 +187 +293 E-Cu 428.2 446.9 -18.7 424.4 446.8 -22.4 Nickel -187 -11 +71 -254 +4 +3 E-Ni 64.7 64.7 0.0 64.7 64.7 0.0 Others/ Diff. Adjustment*1 +75 0 +75 Nickel Sulfate 58.4 56.9 +1.5 58.7 56.4 +2.3 Total 1,030 680 +350 -30 +87 -269 +191 +371 Fe-Ni 5.0 4.6 +0.4 5.0 4.7 +0.3 *1 Others consisits mainly the eliminations of transactions within the segment. CBNC 16.3 19.0 -2.7 16.3 19.0 -2.7 THPAL 29.5 29.5 0.0 29.5 29.5 0.0 Equity in earnings of affiliated companies Inventory evaluation P&L JPY 100M JPY 100M Metal price/Exchange rates FY2026 FY2026 Diff. FY2026 FY2026 Diff. FY/CY FY2026 FY2026 Diff. FCST in Aug. FCST in May FCST in Aug. FCST in May FCST in Aug. FCST in May Copper 20 15 +5 Cu 247 60 +187 Cu ($/t) FY 12,706 11,000 +1,706 Nickel 45 45 0 Ni -26 -30 +4 Ni ($/lb) FY 7.68 7.50 +0.18 Others/ Diff. Adjustment 0 1 -1 Others 0 0 0 Au ($/toz) FY 4,204 4,200 +4 Total 65 60 +5 Total 221 30 +191 Co($/lb) FY 22.16 20.00 +2.16 Exchange rate (\/$) FY 159.87 155.00 +4.87 Production Sales Diff. Quantity Price Cost@ Inventory Others
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33 4． Comparison of FY2026 Forecast in Aug. vs May by Segment-3 ＜Materials＞ Net sales JPY 100M ＜Others/ Diff. Adjustment＞ JPY 100M FY2026 FY2026 Diff. FY2026 FY2026 Diff. Full Year Full Year Full Year Full Year FCST in Aug. FCST in May FCST in Aug. FCST in May Battery Materials 1,910 1,500 +410 Advanced 1,650 1,550 +100 Materials Applied Powder Materials 710 630 +80 Device Materials, Others 940 920 +20 Total 3,560 3,050 +510 -2 0 -2 We have reorganized the sub-segments of the Materials business from FY2026 Forecast Before ＜Reference: Interest Received, etc.＞ JPY 100M Applied Powder Materials FY2026 FY2026 Diff. Package Materials FCST in Aug. FCST in May Crystal Materials, Others Segment Profit JPY 100M FY2026 FY2026 Diff. FCST in Aug. FCST in May Battery Materials 80 -30 +110 Advanced Materials 100 70 +30 Total 180 40 +140 After Applied Powder Materials Device Materials, Others 440 +30 Total Financial Income (Interest Received) 470 Finance income/cost (exchange gain/loss from valuation of financial assets and liabilities) 3 0 +3 Other income/cost (exchange gain/loss from settlement of other assets and liabilities) -5 0 -5
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34 5． Comparison of FY2026 Forecast in Aug. vs FY2025 Results ＜Financial Results＞ JPY 100M ＜Average Metal Price/Exchange-rate＞ FY2026 FY2025 FY2026 FY2025 Full year Full year Diff. Full year Full year Diff. FCST in Aug. Results FY/CY FCST in Aug. Results Net sales 20,650 17,416 +3,234 Cu ($/t) FY 12,706 10,816 +1,890 Gross profit 3,270 2,745 +525 CY 12,794 9,939 +2,855 Profit before tax 3,240 2,557 +683 Ni ($/lb) FY 7.68 7.08 +0.60 Net profit 2,160 1,763 +397 Au ($/toz) FY 4,204 3,939 +265 CY 4,398 3,435 +963 Co ($/lb) FY 22.16 19.67 +2.49 \/US$ FY 159.87 150.78 +9.09 CY 159.09 149.71 +9.38 ＜Prof it Before Tax by Segment＞ JPY 100M ＜Notes in Prof it Before Tax＞ JPY 100M FY2026 FY2025 FY2026 FY2025 Full year Full year Diff. Segment Notes Full year Full year Diff. FCST in Aug. Results FCST in Aug. Results Mineral Resources 2,560 1,690 +870 Mineral Resources None - - - Smelting & Refining 630 915 -285 Smelting & Refining Inventory evaluation 221 543 -322 Materials 180 142 +38 Materials None - - - Others -30 -21 -9 Diff. Diff. Adjustment -100 -169 +69 Adjustment -2 -22 +20 Profit before tax 3,240 2,557 +683 JPY 100M FY2025 Quantity Unit cost Materials Other gain/loss on FY2026 Full year Cu Ni・Co Au Inventory difference differentials Business foreign exchange Others Full year Results Price Price Price etc. evaluation (Other Financial Income etc.) FCST in Aug. 2,557 +918 +47 +240 -322 +16 -560 +38 +20 +56 3,240 ＜Major Factors in "Others" +56 in Analysis of Change＞ Positive factors: By-products, Timing differences and unrealized profits Negative factors: Investigation expenses of new projects, Fluctuations in the profit and loss of equity-method affiliate companies (other than variance analysis) Metal Price/Exchange Foreign exchange difference +230 Other gain/loss on foreign exchange (Other Financial Income etc.) ※ Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 through Q4 has been revised from the figures previously disclosed. <Analysis of Changes in Profit Before Tax +683 by Variance Factors＞
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35 6．Financial Position / Cash Flows / Capital Expenditure 【Shareholder's Equity Ratio】 JPY 100M 【Cash Flows】 JPY 100M End of FY FY2024 FY2025 FY2026 1Q FY2024 FY2025 FY2026 1Q Net assets 30,686 35,590 36,247 1,510 1,597 1,168 Shareholder's equity 18,457 20,748 21,300 1,496 1,018 630 Shareholder's Equity Ratio 60.1% 58.3% 58.8% -1,389 -1,852 -194 107 -834 436 -62 367 -213 46 -467 222 41 38 23 【D/E Ratio】 JPY 100M 1,597 1,168 1,413 End of FY FY2024 FY2025 FY2026 1Q Interest-bearing debt 5,603 6,638 7,147 Shareholder's equity 18,457 20,748 21,300 D/E ratio 0.31 0.32 0.34 【Dividend Payout Ratio】 【Capital Expenditure / Depreciation】 JPY 100M FY2024 FY2025 FY2026 FCST in May FY2024 FY2025 FY2026 FCST in May Dividend / share (JPY) 104.0 228.0 207.0 Mineral Resources 426 628 427 Net Income(loss) / share (JPY) 59.99 649.55 518.08 Smelting & Refining 233 382 509 Dividend payout ratio 173.4% 35.1% 40.0% Materials 467 270 224 Others 48 95 65 Total 1,174 1,375 1,225 671 598 683 Net increase (decrease) in cash and cash equivalents Effect of exchange rate change on cash and cash equivalents Cash and cash equivalents at end of period Capital Expenditure Depreciation Net cash provided by (used in) financing activities Cash and cash equivalents at beginning of period Net cash provided by (used in) operating activities Net cash provided by (used in) investing activities Free cash flows
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36 7．Quarterly Financial Results/Forecast JPY 100M FY2024 Results Results FCST in May 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2～4Q Total Total Net sales 4,103 3,898 3,927 4,005 15,933 3,796 4,038 4,673 4,909 17,416 5,401 15,249 20,650 18,830 Gross profit 473 352 -202 -38 585 350 523 847 1,025 2,745 1,096 2,174 3,270 2,370 Profit before tax① 307 423 -249 -167 314 379 399 705 1,074 2,557 1,180 2,060 3,240 2,290 221 244 -169 -131 165 274 265 543 681 1,763 879 1,281 2,160 1,390 Cu ($/t) FY(Apr-Mar) 9,751 9,204 9,178 9,346 9,370 9,519 9,792 11,100 12,852 10,816 13,324 12,500 12,706 11,000 CY(Jan-Dec) 8,444 9,751 9,204 9,178 9,144 9,346 9,519 9,792 11,100 9,939 12,852 12,775 12,794 11,463 Ni ($/lb) 8.34 7.37 7.26 7.06 7.51 6.88 6.81 6.75 7.87 7.08 8.24 7.50 7.68 7.50 Au ($/toz) FY(Apr-Mar) 2,338 2,476 2,662 2,863 2,585 3,280 3,454 4,145 4,877 3,939 4,516 4,100 4,204 4,200 CY(Jan-Dec) 2,072 2,338 2,476 2,662 2,387 2,862 3,280 3,454 4,145 3,435 4,877 4,239 4,398 4,369 Co ($/lb) 11.85 10.68 9.95 11.09 10.89 15.23 15.48 22.49 25.48 19.67 25.65 21.00 22.16 20.00 Exchange FY(Apr-Mar) 155.89 149.37 152.44 152.60 152.58 144.60 147.48 154.16 156.86 150.78 159.50 160.00 159.87 155.00 (\/$) CY(Jan-Dec) 148.60 155.89 149.37 152.44 151.58 152.60 144.60 147.48 154.16 149.71 156.86 159.83 159.09 155.47 -11 -26 +15 +18 -4 -11 -19 +49 -16 +3 -134 +122 -12 -4 +191 -47 -6 +81 +219 -87 +18 +238 +371 +540 +279 -46 +233 +34 +180 -73 +9 +99 +215 -98 -1 +287 +355 +543 +145 +76 +221 +30 +12 -4 +6 -2 +12 +3 +1 +1 +7 +12 -8 -6 -14 0 +192 -77 +15 +97 +227 -95 0 +288 +362 +555 +137 +70 +207 +30 115 500 -264 -264 87 474 399 417 712 2,002 1,043 1,990 3,033 2,260①‐② FY2025 FY2026 Results FCST in Aug. Profit attributable to owners of parent Inventory evaluation P&L (Smelting) lower of cost or net realizable value (Smelting) QP Diff etc. (Smelting) Total (Materials & others) Total②
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37 8． Quarterly Financial Results/Forecast by Segment JPY 100M FY2024 Results Results FCST in May 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2～4Q Total Total Mineral Resources 427 486 673 521 2,107 577 665 778 1,006 3,026 916 2,754 3,670 3,340 Smelting & Refining 3,266 3,015 2,931 3,095 12,307 2,874 3,160 3,729 3,738 13,501 4,143 11,017 15,160 13,870 Materials 766 746 719 734 2,965 695 661 688 801 2,845 896 2,664 3,560 3,050 Others 29 22 28 33 112 25 25 31 29 110 27 83 110 120 -385 -371 -424 -377 -1,557 -375 -473 -553 -665 -2,066 -581 -1,269 -1,850 -1,550 4,103 3,898 3,927 4,005 15,933 3,796 4,038 4,673 4,909 17,416 5,401 15,249 20,650 18,830 Mineral Resources 67 223 206 236 732 247 262 353 553 1,415 517 1,273 1,790 1,460 Smelting & Refining 351 66 -417 253 253 35 179 427 558 1,199 408 622 1,030 680 Materials 85 47 74 -484 -278 74 75 93 110 352 133 277 410 260 Others 9 5 7 7 28 7 6 7 5 25 5 15 20 20 -39 11 -72 -50 -150 -13 1 -33 -201 -246 33 -13 20 -50 473 352 -202 -38 585 350 523 847 1,025 2,745 1,096 2,174 3,270 2,370 Mineral Resources 104 333 359 222 1,018 359 278 348 705 1,690 713 1,847 2,560 1,960 Copper Mine Business 44 242 151 153 591 251 186 245 469 1,151 472 1,378 1,850 1,320 Gold Mine Business etc. 60 91 208 69 427 108 92 103 236 539 241 469 710 640 Smelting & Refining 278 -2 -490 143 -71 -38 78 338 537 915 365 265 630 240 Materials 31 -16 9 -566 -542 25 36 42 39 142 92 88 180 40 Battery Materials 11 -23 1 -574 -585 16 17 18 43 94 45 35 80 -30 Advanced Materials 20 7 8 8 43 9 19 24 -4 48 47 53 100 70 Others 1 2 -2 -13 -12 -2 -1 -4 -14 -21 -4 -26 -30 -40 -107 106 -125 47 -79 35 8 -19 -193 -169 14 -114 -100 90 307 423 -249 -167 314 379 399 705 1,074 2,557 1,180 2,060 3,240 2,290 Diff. Adjustment Profit Before Tax Diff. Adjustment Net Sales Gross Profit Diff. Adjustment Gross Profit PBT Net Sales FY2025 FY2026 Results FCST in Aug. * Due to a change in the allocation method for general and administrative expenses not attributable to reportable segments, as well as a retrospective restatement, segment profit for FY2025 Q1 though Q4 has been revised from the figures previously disclosed.
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38 8. (Reference) Comparison of Segment Profit/Loss Before and After Retrospective Restatement JPY 100M FY2025 Before restatement 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total Mineral Resources 356 275 346 701 1,678 359 278 348 705 1,690 3 3 2 4 12 Copper Mine Business 251 186 245 469 1,151 251 186 245 469 1,151 0 0 0 0 0 Gold Mine Business etc. 105 89 101 232 527 108 92 103 236 539 +3 +3 +2 +4 +12 Smelting & Refining -38 78 338 538 916 -38 78 338 537 915 0 0 0 -1 -1 Materials 28 39 44 42 153 25 36 42 39 142 -3 -3 -2 -3 -11 Battery Materials 17 19 20 44 100 16 17 18 43 94 -1 -2 -2 -1 -6 Advanced Materials 11 20 24 -2 53 9 19 24 -4 48 -2 -1 0 -2 -5 Others -2 -1 -4 -14 -21 -2 -1 -4 -14 -21 0 0 0 0 0 35 8 -19 -193 -169 35 8 -19 -193 -169 0 0 0 0 0 379 399 705 1,074 2,557 379 399 705 1,074 2,557 0 0 0 0 0 Diff. Adjustment Profit Before Tax Diff. PBT FY2025 After restatement
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39 9．Equity in earnings of affiliated companies JPY 100M FY2024 Results Results FCST in May 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2～4Q Total Total Cerro Verde 42 96 88 62 288 85 82 99 164 430 108 412 520 410 Quebrada Blanca -108 -79 -83 -119 -389 -54 -90 -130 -29 -303 -39 9 -30 -80 Candelaria/Ojos 18 37 24 23 102 33 39 37 28 137 58 142 200 170 Acids/Jinlong/MSMMBC 16 23 6 11 56 12 10 17 26 65 22 -2 20 15 Figesbal/NAC 2 0 10 -11 1 4 18 7 11 40 9 36 45 45 NECC/NK/others 7 4 13 5 29 6 19 9 3 37 0 35 35 30 Total -23 81 58 -29 87 86 78 39 203 406 158 632 790 590 Mineral Resources -24 45 40 -36 25 87 12 13 171 283 175 625 800 500 Smelting & Refining 18 23 15 2 58 16 28 24 38 106 31 34 65 60 Materials/Others -17 13 3 5 4 -17 38 2 -6 17 -34 -41 -75 30 Total -23 81 58 -29 87 86 78 39 203 406 172 618 790 590 FY2025 FY2026 Results FCST in Aug.
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40 10．Production and Sales of Mineral Resources Segment (100% basis) FY2024 Results Results Plan in May 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2～4Q Total Total Hishikari Production 0.8 1.0 1.3 0.9 4.0 0.9 0.9 0.6 1.2 3.6 0.9 2.6 3.5 3.5 (Au) Sales 0.8 1.1 1.1 1.0 4.0 1.0 0.8 0.8 0.9 3.5 1.1 2.4 3.5 3.5 Cote Production 0.0 1.1 2.1 3.0 6.2 2.3 3.0 3.3 3.8 12.4 2.3 10.2 12.5 12.5 (Au) Sales 0.0 0.7 2.1 2.7 5.5 2.6 3.2 2.5 4.1 12.4 2.7 10.2 12.9 12.9 Morenci Production 81 80 79 77 317 71 82 79 82 314 73 241 314 314 (Cu) Sales 97 69 88 76 330 62 60 94 101 317 74 248 322 319 Cerro Verde Production 103 110 112 106 431 96 97 104 94 391 95 294 389 389 (Cu) Sales 102 111 107 112 432 95 96 106 96 393 91 293 384 384 Quebrada Blanca Production 42 49 51 58 200 41 51 38 53 183 54 173 227 227 (Cu) Sales 37 42 46 64 189 40 44 42 40 166 68 159 227 227 La Candelaria/ Production 31 31 48 47 157 36 35 36 33 140 30 104 134 134 Ojos Del Salado (Cu) Sales 33 31 45 49 158 35 36 36 33 140 31 103 134 134 Northparkes Production 9 9 9 9 36 9 9 8 10 36 8 25 33 33 (Cu) Sales 10 9 8 10 37 9 8 10 9 36 7 25 32 32 Au : t Cu: kt FY2025 FY2026 Results Plan in Aug.
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41 11．Production and Sales of Smelting & Refining Segment (100% basis) FY2024 Results Results Plan in May 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2～4Q Total Total E-Cu Production 111.1 110.5 109.4 112.0 443.0 109.4 105.6 96.7 100.9 412.6 106.6 321.6 428.2 446.9 Sales 112.1 109.2 113.9 113.8 449.0 121.1 113.3 114.6 94.7 443.7 105.8 318.6 424.4 446.8 E-Ni Production 14.5 16.6 14.0 15.0 60.1 16.5 16.5 16.6 16.6 66.2 15.1 49.6 64.7 64.7 Sales 15.0 15.4 15.7 15.1 61.2 15.5 17.1 16.9 15.7 65.2 16.2 48.5 64.7 64.7 Nickel Sulfate Production 17.0 22.2 19.5 17.9 76.6 18.0 21.9 19.4 20.6 79.9 17.1 41.3 58.4 56.9 (Product Qty) Sales 17.3 21.8 19.4 17.6 76.1 18.2 22.0 19.4 20.4 80.0 17.7 41.0 58.7 56.4 FeNi Production 1.0 0.7 0.5 1.1 3.3 1.3 1.6 1.0 0.9 4.8 1.0 4.0 5.0 4.6 (Ni content) Sales 0.9 1.3 1.1 1.0 4.3 0.9 1.2 1.7 1.3 5.1 1.0 4.0 5.0 4.7 CBNC MS Production 4.1 3.9 3.4 4.6 16.0 4.1 4.1 3.8 3.8 15.8 3.6 12.7 16.3 19.0 (Ni content) Sales 2.6 5.5 3.1 3.7 14.9 4.1 3.6 4.8 2.7 15.2 4.1 12.2 16.3 19.0 THPAL MS Production 6.9 4.5 7.0 5.9 24.3 7.6 5.8 8.3 5.8 27.5 8.3 21.2 29.5 29.5 (Ni content) Sales 6.4 6.2 5.8 6.5 24.9 5.1 7.6 6.9 5.7 25.3 6.5 23.0 29.5 29.5 (kt) FY2025 FY2026 Results Plan in Aug.
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42 12． Metal Price and Exchange Rates -1 ※For details on sensitivity, please refer to page 19. FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 Apr 9,482 9,192 12,891 430 417 585 8.24 6.90 8.17 12.32 15.27 25.69 2,336 3,210 4,722 153.52 144.50 159.34 May 10,129 9,530 13,507 459 432 613 8.85 6.95 8.53 11.70 15.25 25.64 2,351 3,279 4,585 156.26 144.77 158.38 Jun 9,642 9,834 13,574 437 446 616 7.94 6.80 8.01 11.52 15.16 25.63 2,326 3,352 4,242 157.90 144.54 160.77 1QAve. 9,751 9,519 13,324 442 432 604 8.34 6.88 8.24 11.85 15.23 25.65 2,338 3,280 4,516 155.89 144.60 159.50 Jul 9,394 9,778 426 444 7.44 6.81 11.22 15.21 2,393 3,340 158.18 146.75 Aug 8,964 9,646 407 438 7.37 6.76 10.65 15.19 2,468 3,361 146.36 147.71 Sep 9,255 9,953 420 451 7.31 6.85 10.17 16.03 2,568 3,662 143.58 147.98 2QAve. 9,204 9,792 417 444 7.37 6.81 10.68 15.48 2,476 3,454 149.37 147.48 Oct 9,539 10,696 433 485 7.62 6.84 9.92 20.60 2,690 4,056 149.70 151.30 Nov 9,075 10,801 412 490 7.14 6.66 9.90 23.10 2,653 4,084 153.85 155.21 Dec 8,920 11,804 405 535 7.02 6.75 10.04 23.76 2,644 4,295 153.78 155.96 3QAve. 9,178 11,100 416 503 7.26 6.75 9.95 22.49 2,662 4,145 152.44 154.16 Jan 8,978 13,089 407 594 6.98 8.09 9.81 25.23 2,709 4,746 156.53 156.78 Feb 9,329 12,968 423 588 6.93 7.77 9.60 25.52 2,896 5,016 152.02 155.12 Mar 9,731 12,499 441 567 7.28 7.75 13.86 25.67 2,983 4,870 149.26 158.69 4QAve. 9,346 12,852 424 583 7.06 7.87 11.09 25.47 2,862 4,876 152.60 156.86 FY Ave. 9,370 10,816 12,706 425 491 576 7.51 7.08 7.69 10.89 19.67 22.16 2,585 3,939 4,204 152.58 150.78 159.87 Jan-Dec Ave. 9,144 9,939 12,794 415 451 580 7.63 6.88 7.78 11.27 16.07 23.28 2,387 3,435 4,398 151.58 149.71 159.09 FY2026 2-4Q Forecast in Aug. 12,500 567 7.50 21.00 4,100 160.00 FY2026 Forecast in May 11,000 499 7.50 20.00 4,200 155.00 Exchange （\/US$)Copper ($/t) Copper (￠/lb) Nickel ($/lb) Cobalt ($/lb)(Standard-Low) Gold (＄/toz)
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43 FY2026 Forecast in August 2-4Q 12,500$/t FY2026 Forecast in August 2-4Q 4,100$/toz 2025 2026 2026 2027 2026 2027 2025 2026 12． Metal Price and Exchange Rates -2
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44 FY2026 Forecast in August 2-4Q 7.50$/lb FY2026 Forecast in August 2-4Q 160.00¥/$ 2025 2026 2026 2027 2025 2026 2026 2027 12． Metal Price and Exchange Rates -3
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The materials provided herein are not intended as disclosure under the Securities Law, and no warranty is made as to their completeness or accuracy. Any projections included in these materials are based solely on information available at the time of this briefing, and are subject to change based on market conditions, competitive conditions, and a number of other factors. Therefore, we ask that you refrain from making any investment decisions based on these materials alone. The Company cannot be held responsible in any way for any losses that may occur as a result of the use of these materials. Figures are rounded or fractionalized, so totals and breakdown totals do not necessarily equal. All copyrights, trademarks, and intellectual property rights attaching to the materials herein are the sole property of Sumitomo Metal Mining Co., Ltd..