OZ MINERALS • NOVEMBER 2009 • PAGE 1

OZ MINERALS 2012 FIRST QUARTER REPORT

26 APRIL 2012 WWW.OZMINERALS.COM

OZ MINERALS • PAGE 2

DISCLAIMER

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 there from, or otherwise arising in connection with it. Some statements in this presentation relate to the future and are forward looking statements. Such statements may include, but are not limited to, statements with regard to intention, 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 Mineral’s 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 and intentions 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 Minerals 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.

OZ MINERALS • PAGE 3

HIGHLIGHTS

• Strong copper and gold production for the quarter.

• Production impact from rain event minimised.

• Continued improvement in safety performance.

• First ore from stoping from Ankata underground mine achieved at the end of the quarter.

• Further drill results at Carrapateena indicating extensions to resource.

OZ MINERALS • PAGE 4

• Continued improvement in lost time injury frequency rate.

SAFETY OZ Minerals Lost Time and Total Recordable Injury Frequency Rate 12 month moving average *

0

1

2

3

4

5

0

5

10

15

20

25

Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

LTI F

requ

ency

Rat

e

TRI F

requ

ency

Rat

e

OZ Minerals TRIFR OZ Minerals LTIFR* Injuries per million man hours

OZ MINERALS • PAGE 5

PROMINENT HILL

• 10% increase in material movement.

• Copper and gold production on track to meet 2012 guidance of 100,000t-110,000t of copper and 130,000oz-150,000oz of gold.

• Higher milled gold grades contribute to strong quarterly gold production.

• New concentrates handling system commissioned at the Port of Adelaide.

PROMINENT HILL PRODUCTION STATISTICS

DEC QTR '11

MAR QTR '12

MINED (TONNES)

ORE 2,212,157 1,945,417

WASTE 14,266,345 16,102,251

MINED GRADE COPPER (%) 1.28 1.11

GOLD (G/T) 0.47 0.49

ORE MILLED (TONNES) 2,442,800 2,460,397

MILLED GRADE COPPER (%) 1.22 1.24

GOLD (G/T) 0.61 0.63

RECOVERY COPPER (%) 89.9 89.2

GOLD (%) 78.6 77.9

COPPER CONCENTRATE PRODUCED

TONNES 53,163 55,322

CONTAINED METAL IN CONCENTRATES

COPPER (TONNES)

26,802 27,182

GOLD (OZ) 37,814 38,887

TOTAL CONCENTRATE SOLD

(DM TONNES) 56,396 41,677

C1 CASH COSTS US CENTS PER LB 84.2 96.9

OZ MINERALS • PAGE 6

UNIT PRODUCTION COSTS

40.00

50.00

60.00

70.00

80.00

90.00

100.00

110.00

84.2 (0.6) (3.9) 9.7 0.6 8.1 (1.2) 96.9

Q4 Actual 2011 Commodity Price Volume(By Product)

Volume(Cost Driver)

Costs FX Volume(Payable Metal)

Q1 Actual 2012

(US c/lb)

Unit Cost C1 - Q4 2011 vs. Q1 2012

Higher gold grades

Draw down on ROM stocks

partially offset by higher waste movement

Increase in mining costs due to equipment

mobilisation, offset by lower

processing and administration

costs

Increase in average A$/US$ to 1.06 from 1.01

OZ MINERALS • PAGE 7

UNDERGROUND DEVELOPMENT

• Production commenced at Ankata with first stopes blasted in March 2012.

• Project approved June 2010, construction commenced November 2010, full production expected by Q3 2012.

• Annual mine production of 1.2mt of high grade copper ore contributing ~25,000t of copper and ~12,000oz of gold in concentrates.

OZ MINERALS • PAGE 8

PROMINENT HILL UNDERGROUND DEVELOPMENT PROMINENT HILL LONG SECTION East West

• Exploration decline advanced to 445 metres, expected to be completed in Q4 2012.

• Drilling from the exploration decline under the Malu pit expected in H2 2012.

OZ MINERALS • PAGE 9

GEOPHYSICAL SURVEYS Q1 2012

Prominent Hill Mine

Cairn Hill Mine

Brumby

Fyans

Ground Gravity

GEOPHYSICAL SURVEYS Q1 2012

Electromagnetics (EM)

OZ Minerals tenements

IMX tenements

Seismic Reflection

• Geophysics continued in Q1 focused on the southern boundary of the tenement within the ‘mine corridor’ to define drill targets employing:

- Induced Polarisation

- Electromagnetics

- Seismic Reflection

• New targets have been generated for further drill testing.

OZ MINERALS • PAGE 10

DIAMOND DRILLING Q1 2012 • Drilling in the quarter mainly

followed up geophysical signatures identified in 2011 with a continued focus in the ‘mine corridor’.

• 5 – 6 rigs deployed across near mine, regional and IMX JV ground.

• Several new targets tested.

• Prospects being followed up.

• Multiple untested targets remain.

Prominent Hill Mine

Cressida

Aquilla

Cairn Hill Mine

Brumby Current Rig Position

Fyans

Bluebird Sth

Prom Hill Sth Current Rig Position

Tahemi

Larissa FE Current Rig Position Kennedy Dam

Near Mine OZ Regional IMX JV

DIAMOND DRILLING Q1 2012

OZ Minerals tenements

IMX tenements

OZ MINERALS • PAGE 11

CARRAPATEENA: PLAN VIEW SHOWING DRILLHOLES COMPLETED AND IN PROGRESS DURING Q1

• Further infill drilling to convert inferred resource to indicated resource.

• Encouraging results supporting model and showing extensions of mineralisation.

• Hole 078 extension of over 50 metres of lower bornite zone.

Exploration Target Area April

2011

Inferred Resource Area

April 2011

DD12CAR081

DD12CAR084W2

DD12CAR083

DD11CAR077 DD12CAR085

DD11CAR078 Bornite Zone

Chalcopyrite Zone

Bornite Zone

OZ MINERALS • PAGE 12

CARRAPATEENA Q1 DRILLING RESULTS: DD11CAR078 COPPER ASSAYS

879.5m – 1310m 430.5m @ 2.34% Cu

741m – 813.7m 72.7m @ 1.76% Cu

1361m – 1399m 38m @ 1.34% Cu

Upper Bornite Zone

Chalcopyrite Zone

Lower Bornite Zone

Extension of Bornite Zone 50 metres west of April 2011 Resource Boundary

Extensions of over 50 metres of the lower bornite zone.

Significant results include:

• 658m @ 1.97% Cu and 0.67 g/t Au from 741m,

including;

− 430m @ 2.34% Cu and 0.73g/t Au from 879m.

Cross section showing drill hole DD11CAR078

OZ MINERALS • PAGE 13

CARRAPATEENA Q1 DRILLING RESULTS: DD11CAR077 COPPER ASSAYS

Upper Bornite Zone

Lower Bornite Zone

Chalcopyrite Zone

810m – 1013m 203.7m @ 1.87% Cu

Cross section showing drill hole DD11CAR077 High grade mineralisation supported in Chalcopyrite zone.

Significant results include:

• 450m @ 1.24% Cu and 0.59g/t Au from 668m

including;

− 203m @ 1.87% Cu and 0.93g/t Au from 810m.

OZ MINERALS • PAGE 14

CONCLUSION

• A strong production performance at Prominent Hill for the quarter.

• The underground achieves first ore from stoping.

• Exploration intensity maintained.

• M&A remains an important focus.

OZ MINERALS • NOVEMBER 2009 • PAGE 15

THIS INFORMATION HAS BEEN APPROVED FOR RELEASE IN THE FORM AND CONTEXT IN WHICH IT APPEARS BY MR JIM HODGKISON WHO IS A FULL TIME EMPLOYEE OF OZ MINERALS AND 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 2004 EDITION OF THE ‘AUSTRALASIAN CODE FOR REPORTING OF EXPLORATION RESULTS, MINERAL RESOURCES AND ORE RESERVES.

WITHIN THIS PRESENTATION REFERENCES TO EXPLORATION RESULTS RELATING TO PROMINENT HILL ARE BASED ON INFORMATION COMPILED BY MR MARCEL VAN ECK MSC WHO IS A FULL-TIME EMPLOYEE OF OZ MINERALS, IS A MEMBER OF THE AUSTRALIAN INSTITUTE OF GEOSCIENTISTS AND HAS SUFFICIENT EXPERIENCE RELEVANT TO THE STYLE OF MINERALISATION AND TYPE OF DEPOSIT UNDER CONSIDERATION AND TO THE ACTIVITIES UNDERTAKEN TO QUALIFY AS A COMPETENT PERSON AS DEFINED BY THE JORC CODE (2004). MR VAN ECK HAS CONSENTED TO THE INCLUSION OF THE MATERIAL IN THE FORM AND CONTEXT IN WHICH IT APPEARS.

ALL OTHER REFERENCES TO EXPLORATION RESULTS WITHIN THIS PRESENTATION ARE BASED ON INFORMATION COMPILED BY MR A HOUSTON BSC WHO IS A FULL-TIME EMPLOYEE OF OZ MINERALS, IS A MEMBER OF THE AUSTRALIAN INSTITUTE OF GEOSCIENTISTS AND HAS SUFFICIENT EXPERIENCE RELEVANT TO THE STYLE OF MINERALISATION AND TYPE OF DEPOSIT UNDER CONSIDERATION AND TO THE ACTIVITIES UNDERTAKEN TO QUALIFY AS A COMPETENT PERSON AS DEFINED BY THE JORC CODE (2004). MR HOUSTON HAS CONSENTED TO THE INCLUSION OF THE MATERIAL IN THE FORM AND CONTEXT IN WHICH IT APPEARS