A modern mining company

A modern mining company 16 August 2018 The Manager, Companies Australian Securities Exchange Companies Announcement Centre 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam, Amendment to OZ Minerals' 2018 Half Year Financial Results OZ Minerals wishes to advise that there is a typographical error on page 24 of its ASX Release titled "2018 Half Year Financial Results". The date of the financial position is incorrectly stated as 30 June 2017, whereas the correct date is 30 June 2018. A revised version of the ASX Release with the correct date follows. Sincerely, Michelle Pole Company Secretary and Senior Legal Counsel OZ Minerals Limited ABN: 40 005 482 824 2 Hamra Drive, Adelaide Airport South Australia 5950 T: +61 8 8229 6600 F: +61 8 8229 6601 info@ozminerals.com www.ozminerals.com

2018 Half Year Financial Results

OZ MINERALS Contents Results for Announcement to the Market 01 Directors Report 02 Review of Results and Operations 03 Auditor s Independence Declaration 09 Consolidated Half-year Statement of Comprehensive Income 10 Consolidated Half-year Statement of Changes in Equity 11 Consolidated Half-year Balance Sheet 12 Consolidated Half-year Statement of Cash Flows 13 Notes to the Consolidated Half-year Financial Statements 14 Group Performance 15 Capital Employed 19 Contributed Equity 20 Risk Management 20 Group Structure & Other Information 21 Directors Declaration 24 Independent Auditor s Review Report 25

HALF-YEAR FINANCIAL REPORT 2018 01 Results for Announcement to the Market Adjacent are the results announced to the market in accordance with Australian Securities Exchange ( ASX ) Listing Rule 4.2A.3 and Appendix 4D for the Consolidated Entity ( OZ Minerals or the Consolidated Entity ) comprising OZ Minerals Limited ( OZ Minerals Limited or the Company ) and its controlled entities for the half-year ended 30 June 2018 (the financial period ) compared with the half-year ended 30 June 2017 ( comparative period ). This report should be read in conjunction with the Annual Report for the year ended 31 December 2017 and public announcements made by the Company during the half year ended 30 June 2018 in accordance with the continuous disclosure requirements of the Corporations Act 2001 and the ASX Listing Rules. Consolidated results, commentary on results and outlook Half-year to 30 June 2018 Half-year to 30 June 2017 Movement Movement per cent Revenue 530.3 445.9 84.4 18.9 Profit after tax attributable to equity holders of OZ Minerals Limited 127.8 80.6 47.2 58.6 The commentary on the consolidated results and outlook, including changes in the state of affairs and likely developments of the Consolidated Entity, are set out in the Review of Results and Operations section of the Directors Report. Net tangible assets per share 30 June 2018 $ per share 30 June 2017 $ per share Net tangible assets per share 8.94 7.14 In accordance with Chapter 19 of the ASX listing rules, net tangible assets per share represent total assets less intangible assets less liabilities ranking ahead of, or equally with, ordinary share capital, divided by the number of ordinary shares on issue at the end of the half-year. Dividends The details in relation to dividends announced or paid since 1 January 2017 are set out below: Record date Date of payment Fully franked cents per share Total dividends 3 September 2018 17 September 2018 8 25.8 12 March 2018 26 March 2018 14 41.8 7 September 2017 21 September 2017 6 17.9 10 March 2017 24 March 2017 14 41.8 Independent auditor s review report The Consolidated Half-year Financial Statements upon which this Appendix 4D is based have been reviewed and the Independent Auditor s Review Report to the members of OZ Minerals Limited is included in the attached Consolidated Half-year Financial Statements.

02 OZ MINERALS Directors Report The directors present their report for OZ Minerals for the financial period from 1 January 2018 to 30 June 2018 ( halfyear ) together with the Consolidated Half-year Financial Statements. OZ Minerals Limited is a company limited by shares that is incorporated and domiciled in Australia. Directors The directors of the Company during the half-year ended 30 June 2018 and up to the date of this report are set out below. Directors were in office for the entire period unless otherwise stated. Rebecca McGrath (Non-executive Director and Chairman) Andrew Cole (Managing Director and CEO) Tonianne Dwyer Peter Wasow Charlie Sartain (joined as Non-executive Director on 1 August 2018) Charles Lenegan (retired as Non-executive Director on 24 April 2018) Julie Beeby (resigned as a Non-executive Director on 4 May 2018) Peter Tomsett (resigned as a Non-executive Director on 1 August 2018) As announced on 17 July 2018, Marcelo Bastos will be joining as a Non-executive Director effective 1 September 2018. Principal activities The principal activities of the Consolidated Entity during the half-year were the mining and processing of ore containing copper, gold and silver; sales of concentrate; undertaking exploration activities; and the development of mining projects. For additional information on the activities of the Consolidated Entity refer to the Review of Results and Operations section in the Director s Report. Dividends The details relating to dividends announced or paid since 1 January 2017 are set out below: Record date Date of payment Fully franked cents per share Total dividends 3 September 2018 17 September 2018 8 25.8 12 March 2018 26 March 2018 14 41.8 7 September 2017 21 September 2017 6 17.9 10 March 2017 24 March 2017 14 41.8 Rounding of amounts The Company is of a kind referred to in ASIC Corporations Instrument 2016/191 (Rounding in Financial/Directors Reports). Amounts in the Financial Statements and Directors Report have been rounded off in accordance with the Instrument to the nearest million dollars to one decimal place, or in certain cases, to the nearest dollar. All amounts are in Australian dollars, unless otherwise stated. Review of Results and Operations The Review of Results and Operations is set out on pages 3 8 and forms part of the Directors Report. Matters subsequent to the end of the half-year The Consolidated Entity acquired the non-controlling interest in Avanco (NCI) subsequent to 30 June 2018 as discussed in note 13. The NCI was acquired on the same terms as the bid offer and accordingly, $20.2 million was paid and 2.1 million shares were issued. Since the end of the half-year, the Board of Directors has resolved to pay a fully franked interim dividend of 8 cents per share, to be paid on 17 September 2018. The record date for entitlement to this dividend is 3 September 2018. The financial impact of the dividend amounting to $25.8 million has not been recognised in the Consolidated Half-year Financial Statements for the half-year ended 30 June 2018, and will be recognised in subsequent Consolidated Financial Statements. There have been no other events that have occurred subsequent to the reporting date that have significantly affected or may significantly affect the Consolidated Entity s operations or results in future years. Lead auditor s independence declaration The auditor s independence declaration is set out on page 9, and forms part of the Directors Report for the half-year ended 30 June 2018. Signed in accordance with a resolution of the Directors. Rebecca McGrath Chairman Adelaide, 16 August 2018 Andrew Cole Managing Director and CEO Adelaide, 16 August 2018

HALF-YEAR FINANCIAL REPORT 2018 03 Review of Results and Operations Overview OZ Minerals is a copper-focused international mining company based in South Australia listed on the Australian Securities Exchange. We have a growth strategy centred on creating value for our stakeholders. We strive to be a Modern Mining Company adapting to the dynamic environment, harnessing the innovative ideas of our people and collaborating to leverage the experience of those around us. We are the third largest copper producer in Australia and have quality assets, a healthy cash balance, and no debt. OZ Minerals owns and operates the Prominent Hill copper-gold-silver mine in South Australia, is constructing the Carrapateena copper-gold mine also in South Australia and progressing a prefeasibility study on the West Musgrave copper-nickel project located in Western Australia. Post the end of the half year and prior to the approval of this financial report, the company concluded the acquisition of ASX-listed Avanco Resources Limited (Avanco) which has an operating coppergold mine, Antas, and a number of advanced stage projects, in Brazil. Prominent Hill Prominent Hill is in South Australia, 130 kilometres southeast of Coober Pedy. It produces one of the highest-grade copper concentrates in the world at bottom quartile cash costs. Prominent Hill transitioned from an open pit and underground mine to an undergroundonly mine during the half year. It now processes high-grade copper and gold ore from the underground mine and copper and gold ore from open pit stockpiles accumulated over the past decade. Prominent Hill has a mine life to 2029. In the first half of 2018, Prominent Hill delivered strong financial results driven by its continued operating discipline and is on track to achieve all full year guidance metrics. Operational highlights for Prominent Hill: Copper production of 54,597 tonnes and gold production of 58,994 ounces. Third portal into the lower open pit completed in the second quarter. All In Sustaining Costs (AISC) of US 126.6c/lb, within guidance. C1 costs of US 85.0c/lb, within guidance and in the lowest quartile of global copper producers. Carrapateena Carrapateena is an iron-oxide, copper-gold (IOCG) project in South Australia s highly prospective Gawler Craton region. It is located 160km north of Port Augusta and 250km south-east of the Prominent Hill mine. It has a projected mine life of 20 years with average annual copper production of approximately 65,000 tonnes and gold production of 67,000 ounces. The underground decline development is progressing to plan and construction of the mine s surface infrastructure gathered momentum during the half year following approval of the mining lease. First production is on schedule for the fourth quarter of 2019. Several milestones were achieved during the half year including: Underground development at 6,825 metres (3,015 metres to the face of Tjati decline) and a vertical depth of 435 metres. Completion of the airfield and commissioning of stage two of the Tjungu village. Commencement of the processing plant and construction of non-process infrastructure. Work commenced on preliminary studies evaluating mining methods and infrastructure requirements for Carrapateena expansion planning during the year. The scope of this work includes both the current orebody and the wider Carrapateena mineralised zone. At the Khamsin prospect, located 10km to the north west of Carrapateena, a program of diamond drilling was undertaken to test the extent of the known mineralisation. All holes returned broad intersections of zoned bornite and chalcopyrite mineralisation. A broad intersection of 402.6m @1.38%Cu and 0.27g/t Au from 735m extends the existing high grade mineralisation from previous drilling, further to the south west. Brazil OZ Minerals acquired over 90% of the shares in Avanco Resources Ltd prior to the half-year ending and acquired the remaining shares under compulsory acquisition in Q3, diversifying the company s portfolio and adding to its organic growth pipeline. The portfolio of assets acquired includes an operating mine at Antas and exploration tenements in the Grupi greenstone gold belt. Antas is a high-grade open pit copper-gold mine located in the Carajás province in the northern region of Brazil. It produces medium grade concentrate with negligible impurities, desirable to smelters. West Musgrave The West Musgrave copper nickel project is currently in pre-feasibility study. Substantial progress was made on the pre-feasibility study including progressing an extensive infill drilling program, metallurgical drilling and mineralogy test work and extensive heritage clearances undertaken with traditional owners. Exploration drilling commenced at the Yappsu prospect, six kilometres east of Nebo where Massive Sulphides were intersected.

04 OZ MINERALS Exploration OZ Minerals has developed a pipeline of exploration opportunities via earn-in agreements with junior exploration companies. The exploration pipeline grew during the half-year, with eight exploration earn-in agreements with experienced exploration companies currently in place in Australia, Mexico, Portugal and northern Sweden supplemented by further opportunities in Brazil through the Avanco acquisition. Review of Results A 59 per cent increase in net profit after tax to $127.8 million. Underlying EBITDA of $289.9 million, with a strong margin of 55 per cent. Cost of goods sold of $224.4 million. Net assets of $2,862.8 million, with cash of $493.4 million and no debt. A TRIFR of 5.91 at the half-year, a reduction of 14 per cent over the comparative period. Copper production of 54,597 tonnes and gold production of 58,994 ounces, both in line with annual guidance. Lowest quartile C1 costs of US 85c/lb, in line with annual guidance. Outlook OZ Minerals expects 2018 to be another strong year at Prominent Hill with mine life currently extended to 2029 and has accordingly retained guidance for contained copper production at 100,000 to 110,000 tonnes 1. All financial metrics and copper and gold production are expected to remain within annual guidance as OZ Minerals continues to prioritise higher margin copper production over gold. C1 costs for the half-year were US 85c/lb, in line with guidance for the 2018 calendar year of US75 cents to US85 cents per payable pound of copper. The operation is expected to remain in the lowest cost quartile of global copper producers. AISC for the half-year was US 126.6c/lb, in line with guidance for the 2018 calendar year of between US 120 cents to US 130 cents per payable pound of copper. Underground ore movement is expected to gradually ramp up in the second half of 2018 with completion of the fourth portal into the open pit and the rehandle of ore to a larger surface fleet. Underground ore movement is expected to be in line with full year guidance of between 2.8Mt and 3.1Mt as the underground ramps up towards full production. Carrapateena construction remains on schedule for commissioning in Q4 2019 and continues to track in line with the published total project guidance. Whilst Carrapateena capital expenditure will increase this half, overall capital spend for 2018 has been revised downwards from circa $500 million to $400-$430 million. The reductions are value driven and are primarily due to the deferral of the Western Access Road and optimisation of the tailings storage facility design. OZ Minerals progressed with integration of Avanco following the acquisition of the non-controlling interest in August. The company is working to develop a value enhancing Brazil asset development strategy. OZ Minerals expects the West Musgrave Pre-Feasibility Study to be completed during the first half of 2019. Expansion studies for the Carrapateena province have commenced separately to project construction, with the scope including both the current orebody and the wider Carrapateena mineralised zone. The exploration program at the Khamsin and Fremantle Doctor prospects will continue. 1 This information is extracted from the report entitled OZ Minerals December 2017 Quarterly Report released to the ASX on 17 January 2018 and is available at www.ozminerals.com/media/asx/. OZ Minerals confirms that all material assumptions underpinning the production target in that report continue to apply and have not materially changed.

HALF-YEAR FINANCIAL REPORT 2018 05 Review of consolidated financial results and operations 2 Prominent Hill Carrapateena Exploration and development Corporate Total Total HY 18 HY 18 HY 18 HY 18 HY 18 HY 17 Revenue Copper 458.0 458.0 377.9 Revenue Gold and Silver 105.5 105.5 111.1 Treatment and refining charges (33.2) (33.2) (43.1) Net Revenue 530.3 530.3 445.9 Mining (97.3) (97.3) (143.7) Processing (59.1) (59.1) (46.6) Freight expenses (31.9) (31.9) (30.5) Site general and administration (9.0) (9.0) (11.0) Royalties (27.4) (27.4) (22.3) Deferred waste adjustment 4.0 Inventory adjustment 0.3 0.3 44.9 Cost of goods sold (224.4) (224.4) (205.2) Corporate general and administration (4.5) (10.6) (15.1) (16.0) Exploration and other income/(expenses) (2.0) (3.9) (14.3) 3.0 (17.2) (7.4) Net realisable value adjustments 14.3 14.3 5.0 Foreign exchange gain/(loss) (0.2) 2.2 2.0 (4.9) Underlying EBITDA 313.5 (3.9) (14.3) (5.4) 289.9 217.4 Depreciation of PPE (76.7) (1.7) (78.4) (165.2) Capitalised depreciation into inventory (25.7) (25.7) 60.3 Net Depreciation (102.4) (1.7) (104.1) (104.9) Underlying EBIT 211.1 (3.9) (14.3) (7.1) 185.8 112.5 Net finance income 5.2 2.9 Income tax expense (57.3) (34.8) Underlying Net Profit after tax 133.7 80.6 Non-underlying items net of tax 3 (5.9) Net Profit for the half-year attributable to equity holders of OZ Minerals Limited 127.8 80.6 Earnings per share (cents per share) 42.7 27.0 2 OZ Minerals financial results are reported under International Financial Reporting Standards ( IFRS ). This Half-year Financial Report and Results for Announcement to the Market include certain non-ifrs measures including Underlying EBITDA, Underlying EBIT and Underlying NPAT. These measures are consistent with measures used internally and are presented to enable understanding of the underlying performance of the Consolidated Entity. Non-IFRS measures have not been subject to audit or review. Underlying EBITDA, Underlying EBIT and Underlying NPAT are included in Note 1 Operating Segments, which form part of the Consolidated Half-year Financial Statements. Refer Note 1 Operating Segments to the Consolidated Half-year Financial Statements for further details. 3 Corresponds to acquisition costs associated with the Avanco transaction of $5.9 million relating to due diligence, legal, transaction and consulting fees.

06 OZ MINERALS OZ Minerals earnings and margins improved during the half year with strong copper prices and consistent sales volumes compared to the prior period. Increased commodity prices partially contributed to the strong NPAT of $127.8 million for the half year, up from $80.6 million in the comparative period. The closing cash balance was $493.4 million as at 30 June 2018 after shareholder payments of $41.8 million; the acquisition of Avanco of $201.1 million; investment in the Carrapateena project of $143.1 million; and income tax payments of $118.0 million. Revenue Compared to the comparative period: Net revenue for the half year of $530.3 million was 19 per cent higher Contained copper sales of 52,758 tonnes were 2 per cent higher Contained gold sales of 61,132 ounces were 2 per cent lower, consistent with the planned production profile of the Prominent Hill mine. During the half year the A$ copper price was 18 per cent higher than the comparative period last year while the average gold price was 3% lower than the comparative period. Realisation costs Treatment charges and refining costs (TCRC) were lower by $9.9 million, reflecting lower benchmark rates and improved commercial terms. Royalties also increased by $5.1 million due to higher net revenue during the half year compared to the comparative period. Prominent Hill costs Cost of goods sold was higher than the comparative period, mainly reflecting higher power costs following contract renewal. During the first quarter, mining of the open pit was completed, resulting in lower mining costs than the comparative period. The allocation of inventory costs from the processing of open pit ore stockpiles commenced in April 2018, offset by $13.0 million attributable to an increase in concentrate inventory at the end of 30 June 2018. Underground operations produced 1.4 million tonnes of high grade ore which was 30 per cent higher than the comparative period. From the second quarter of 2018, with the closure of the open pit, Run of Mine management costs were included in Underground mining costs. Unit mining costs during the half year amounted to $55 per tonne of underground ore. Ore milled of 4.9 million tonnes was in line with the comparative period. Depreciation of property plant and equipment of $78.4 million was lower than the comparative period by $86.8 million due to the completion of the open pit. However, with the commencement of processing of stockpiled open pit ore, capitalised depreciation of $25.7 million was recognised in the income statement, resulting in a net depreciation for the half year of $104.1 million, in line with the comparative period. Other Costs Exploration and Development expenditure of $19.7 million incurred during the half year related to West Musgrave, the wider Carrapateena province, and other exploration earnin arrangements in the growth pipeline. OZ Minerals also received the final instalment of its government grant of $3.0 million related with the development of the Concentrate Treatment Plant technology. OZ Minerals holds its cash in A$ with US$ facilities maintained only to meet US$ commitments. This resulted in a foreign exchange gain on cash balances during the half year from an appreciating US$. Corporate general and administration costs of $15.1 million comprised costs incurred in the direct support of operating activities of $4.5 million and those related to largely corporate activities of $10.6 million. An allocation of the costs relating to the support of operating activities covers a range of services and costs provided at the Corporate office to Prominent Hill, Carrapateena, and the Exploration and Development operating segments. These costs include sales and marketing, strategic sourcing, business services, information technology and insurance. The income tax expense for the half year ended 30 June 2018 was $57.3 million and approximates the Australian corporate tax rate of 30 per cent. Acquisition costs associated with the Avanco transaction of $5.9 million relating to due diligence, legal, transaction and consulting fees were recognised as a non-underlying expense during the half year.

HALF-YEAR FINANCIAL REPORT 2018 07 Variance analysis Underlying net profit after tax 30 June 2018 vs. 30 June 2017 30 June 2018 Underlying net profit after tax for the half-year ended 30 June 2017 80.6 Changes in revenues: Volume sales 5.7 Copper 8.8 Gold (2.5) Silver (0.6) A$ price 68.8 Copper 71.3 Gold (2.8) Silver 0.3 Treatment and refining charges 9.9 Royalties (5.1) 4.8 Changes in mine costs: (4.0) Production costs 34.5 Deferred waste and inventory adjustment (48.6) Depreciation 10.1 Other costs: (2.0) Corporate 0.9 Exploration (9.8) Foreign exchange impact on cash and debtor balances 7.0 Other (0.1) Tax and net interest (20.2) Underlying net profit after tax for the half-year ended 30 June 2018 133.7

08 OZ MINERALS Cash flow analysis Cash balance and cash flow for the period ended 30 June 2018 1,000 800 154.5 351.1 $ million 600 41.8 2.4 400 729.4 200 493.4 0 Opening January 2018 cash balance Operating activities Investing activities Financing activities Effect of exchange rate changes Closing June 2018 cash balance Operating cash flows Operating cash flows for the half year ended 30 June 2018 were $154.5 million, an increase of $61.0 million over the comparative period. This increase resulted from increased collections from customers of $74.6 million, decreased payments to suppliers of $34.8 million and was partially offset by increased income tax payments of $48.7 million. Investing cash flows Net investing cash flows of $351.1 million comprised a combination of payments associated with the Avanco acquisition, investment in property plant and equipment at Prominent Hill, and the capitalisation of project development costs at Carrapateena. The payments incurred related to: acquisition of Avanco shares of $201.1 million capitalised Carrapateena project costs of $143.1 million Prominent Hill mine development costs of $35.6 million other sustaining capital expenditure of $10.4 million partially offset by Avanco s cash balance acquired as at 30 June 2018 of $39.1 million. Financing activities Cash flows relating to financing activities of $41.8 million comprised final dividend for the 2017 financial year. Since the end of the half year, the Board of Directors has resolved to pay a fully franked interim dividend of 8 cents per share in respect of the 2018 half-year amounting to $25.8 million, which will be recognised in subsequent Consolidated Financial Statements.

HALF-YEAR FINANCIAL REPORT 2018 09 Lead Auditor s Independence Declaration under Section 307C of the Corporations Act 2001 To the Directors of OZ Minerals Limited I declare that, to the best of my knowledge and belief, in relation to the review of OZ Minerals Limited for the half-year ended 30 June 2018 there have been: i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and ii. no contraventions of any applicable code of professional conduct in relation to the review. KPMG Paul Cenko Partner Adelaide 16 August 2018 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. Liability limited by a scheme approved under Professional Standards Legislation.

10 OZ MINERALS Consolidated Half-year Statement of Comprehensive Income For the half-year ended 30 June 2018 Notes 30 June 2018 30 June 2017 Revenue 1 530.3 445.9 Net foreign exchange gain/(loss) 2.0 (4.9) Other income 4.1 4.1 Changes in inventories of ore and concentrate (11.1) 110.3 Consumables and other direct costs (137.2) (167.9) Employee benefit expenses (30.1) (28.3) Exploration and evaluation expenses (19.7) (10.5) Freight expenses (31.9) (30.5) Royalties expense (27.4) (22.3) Depreciation expense 6 (78.4) (165.2) Other expenses (20.7) (18.2) Profit before net financing income and income tax 179.9 112.5 Financing income 7.1 4.8 Financing expenses (1.9) (1.9) Net financing income 5.2 2.9 Profit before income tax 185.1 115.4 Income tax expense 3 (57.3) (34.8) Profit for the half-year attributable to equity holders of OZ Minerals 127.8 80.6 Other comprehensive gain/(loss) Items that will not be reclassified subsequently to the Income Statement Change in fair value of investments in equity securities, net of tax (6.5) (5.2) Items that may be reclassified to the Income Statement Net gain/(loss) on cash flow hedges, net of tax (2.5) 0.1 Other comprehensive loss for the half-year, net of tax (9.0) (5.1) Total comprehensive income for the half-year attributable to equity holders of OZ Minerals Limited 118.8 75.5 Cents Cents Basic and diluted earnings per share 2 42.7 27.0 The above Consolidated Half-year Statement of Comprehensive Income should be read in conjunction with the accompanying Notes.

HALF-YEAR FINANCIAL REPORT 2018 11 Consolidated Half-year Statement of Change in Equity For the half-year ended 30 June 2018 Notes Issued capital Retained earnings Cash flow hedge reserve Treasury shares Non-controlling interests Total equity Balance as at 1 January 2018 2,029.0 492.3 (3.6) (1.4) 2,516.3 Total comprehensive income for the half-year Profit for the half-year 127.8 127.8 Other comprehensive (loss) (6.5) (2.5) (9.0) Total comprehensive income/(loss) for the half-year 121.3 (2.5) 118.8 Transactions with owners, recorded directly in equity Shares issued-acquisition of Avanco 8, 13 222.3 222.3 Equity contribution 8 2.6 2.6 Dividends 4 (41.8) (41.8) Share-based payments, net of income tax 4.3 4.3 Acquisition of Avanco 13 40.3 40.3 Total transactions with owners 224.9 (37.5) 40.3 227.7 Balance as at 30 June 2018 2,253.9 576.1 (6.1) (1.4) 40.3 2,862.8 For the half-year ended 30 June 2017 Balance as at 1 January 2017 2,029.0 323.8 3.6 (2.1) 2,354.3 Total comprehensive income for the half-year Profit for the half-year 80.6 80.6 Other comprehensive income/(loss) (5.2) 0.1 (5.1) Total comprehensive income/(loss) for the half-year 75.4 0.1 75.5 Transactions with owners, recorded directly in equity Dividends 4 (41.8) (41.8) Share-based payments, net of income tax 3.7 3.7 Purchase of treasury shares (7.3) (7.3) Exercise of performance rights (2.1) 2.1 Total transactions with owners (40.2) (5.2) (45.4) Balance as at 30 June 2017 2,029.0 359.0 3.7 (7.3) 2,384.4 The above Consolidated Half-year Statement of Changes in Equity should be read in conjunction with the accompanying Notes.

12 OZ MINERALS Consolidated Half-year Balance Sheet At 30 June 2018 Notes 30 June 2018 Current assets 31 December 2017 Cash and cash equivalents 493.4 729.4 Trade receivables 133.6 121.9 Lease receivables 19.6 Other receivables 13.6 10.8 Inventories 5 280.7 262.5 Prepayments 3.3 3.9 Derivative financial instruments 2.3 Total current assets 926.9 1,148.1 Non-current assets Inventories 5 470.0 484.4 Other assets 16.9 18.0 Property, plant and equipment 6 1,914.0 1,175.8 Total non-current assets 2,400.9 1,678.2 Total assets 3,327.8 2,826.3 Current liabilities Trade payables and accruals 115.1 94.1 Other payables 12.2 3.5 Current tax provision 1.3 101.1 Employee benefits 21.3 10.0 Provisions 4.7 6.7 Derivative financial instruments 0.9 11.6 Total current liabilities 155.5 227.0 Non-current liabilities Deferred tax liabilities 3 256.9 47.4 Employee benefits 1.8 1.8 Provisions 43.0 29.1 Derivative financial instruments 7.8 4.7 Total non-current liabilities 309.5 83.0 Total liabilities 465.0 310.0 Net assets 2,862.8 2,516.3 Equity Issued capital 8 2,253.9 2,029.0 Cash flow hedge reserve (6.1) (3.6) Retained earnings 576.1 492.3 Treasury shares (1.4) (1.4) Total equity attributable to equity holders of OZ Minerals Limited 2,822.5 2,516.3 Non-controlling interests 13 40.3 Total Equity 2,862.8 2,516.3 The above Consolidated Half-year Balance Sheet should be read in conjunction with the accompanying Notes.

HALF-YEAR FINANCIAL REPORT 2018 13 Consolidated Half-year Statement of Cash Flows For the half-year ended 30 June 2018 Notes 30 June 2018 30 June 2017 Cash flows from operating activities Receipts from customers 520.8 446.2 Payments to suppliers and employees (243.5) (278.3) Payments for exploration and evaluation (12.2) (11.5) Income tax paid (117.7) (69.0) Financing costs (0.5) (0.4) Interest received 7.6 6.5 Net cash inflows from operating activities 154.5 93.5 Cash flows from investing activities Payment for property, plant and equipment (189.1) (24.9) Payment for Carrapateena 4 (45.8) Payment for Avanco, net of cash acquired 13 (162.0) Net cash outflows from investing activities (351.1) (70.7) Cash flows from financing activities Dividends paid to shareholders 4 (41.8) (41.8) Payments for acquisition of treasury shares (7.3) Net cash outflows from financing activities (41.8) (49.1) Net decrease in cash held (238.4) (26.3) Cash and cash equivalents as at 1 January 729.4 655.7 Effects of exchange rate changes on foreign currency denominated cash balances 2.4 (4.9) Cash and cash equivalents at the end of the half-year 493.4 624.5 The above Consolidated Half-year Statement of Cash Flows should be read in conjunction with the accompanying Notes. 4 In the second half of 2017, Carrapateena expenditure was included within payments for property, plant and equipment (PPE). Carrapateena capital expenditure incurred in 2018 is also included within payment for PPE.

14 OZ MINERALS Notes to the Consolidated Half-year Financial Statements Introduction The principal business activities of OZ Minerals Limited (OZ Minerals or the Company) and its controlled entities (collectively the Consolidated Entity or the Group) were the mining and processing of ore containing copper, gold and silver, undertaking exploration activities; and the development of mining projects. The Company is incorporated and domiciled in Australia and limited by shares which are publicly traded on the Australian Securities Exchange. OZ Minerals registered office relocated to 2 Hamra Drive, Adelaide Airport, South Australia 5950, Australia effective 22 June 2018. The Consolidated Half-year Financial Statements of OZ Minerals Limited and its controlled entities for the half-year ended 30 June 2018: are prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001. Compliance with AASB 134 also ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting are presented in Australian dollars which is also the functional currency of the Company and all its controlled entities, except the entities referred to in note 11 which were acquired on acquisition of Avanco Resources Limited (Avanco), the functional currency of which is US dollars. have amounts rounded off to within the nearest million dollars to one decimal place unless otherwise stated, in accordance with Instrument 2016/191, issued by the Australian Securities and Investments Commission. The consolidated half-year financial statements do not include all of the information required for a full annual financial report and should be read in conjunction with the Annual Report of the Consolidated Entity for the year ended 31 December 2017 and any public announcements made by OZ Minerals Limited during the half-year financial reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The Consolidated Half-year Financial Statements were authorised for issue by the Directors on 16 August 2018. The Annual Report of OZ Minerals for the year ended 31 December 2017 is available upon request from the Company s registered office at 2 Hamra Drive, Adelaide Airport, South Australia 5950, South Australia, Australia or at the Company s website at www.ozminerals.com The Consolidated Half-year Financial Statements have been prepared on a going concern basis and under the historical cost convention, except for the following items which are measured at fair value, or otherwise, in accordance with the provisions of applicable accounting standards: financial instruments, including trade receivables derivative financial instruments items of inventory and property, plant and equipment which have been written down in accordance with applicable accounting standards the assets and liabilities arising on acquisition of Avanco. Subsequent to 30 June 2018, the Consolidated Entity acquired the non-controlling interest in Avanco (NCI) as discussed in note 13. The NCI was acquired on the same terms as the bid offer and accordingly, $20.2 million was paid and 2.1 million shares were issued. The board of directors also announced an interim dividend for the half-year ended 30 June 2018, as discussed in note 4. There were no other events that occurred subsequent to reporting date which have significantly affected or may significantly affect the Consolidated Entity s operations or results in future years. The critical estimates and judgements are consistent with those applied by the Consolidated Entity in its Annual Report for the year ended 31 December 2017. The Consolidated Entity acquired Avanco during the half-year which has been accounted for as a business combination. The Consolidated Entity accounts for acquisition of subsidiaries using the acquisition method of accounting on acquisition date by recognising the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree. The identifiable assets acquired and the liabilities assumed are measured at their fair values at acquisition date. The assets acquired, and the liabilities assumed on acquisition are recognised at their estimated fair values as at the date of acquisition. Accounting standards permit up to 12 months for provisional acquisition accounting to be finalised following the acquisition date if any subsequent information provides better evidence of the item s fair value at the date of acquisition.

HALF-YEAR FINANCIAL REPORT 2018 15 Group Performance 1. Operating Segments Segment Prominent Hill Carrapateena Exploration & Development Avanco (was acquired at 13 June 2018) Corporate (corporate activities) Principal activities Mining and processing high grade underground ore containing copper, gold and silver along with open pit ore from stockpiles. The Prominent Hill Mine is located in the Gawler Craton of South Australia. The Prominent Hill Mine generates revenue from the sale of concentrate containing copper, gold and silver to customers in Asia, Europe and Australia. Exploration, evaluation and development associated with the Carrapateena project located in South Australia. Exploration and evaluation activities associated with other projects and include exploration arrangements with Minotaur Exploration Ltd, Cassini Resources Limited, Mithril Resources, Acapulco Gold, Avrupa Minerals, Mineral Prospektering i Sverige and Corporate Development activities. Mining and processing high grade open pit ore containing copper and gold at the Antas mine in Brazil. Antas generates revenue from the sale of concentrate containing copper and gold to customers in the United Kingdom and Europe. Other corporate activities include the Consolidated Entity s group office (which includes all corporate expenses that cannot be directly attributed to the operation of the Consolidated Entity s operating segments), other investments in equity securities and cash balances.

16 OZ MINERALS For the half-year ended 30 June 2018 Prominent Hill Carrapateena Exploration & Development Corporate Consolidated Revenue Copper 458.0 458.0 Revenue Gold and Silver 105.5 105.5 Treatment and refining charges (33.2) (33.2) Net Revenue 530.3 530.3 Mining (97.3) (97.3) Processing (59.1) (59.1) Transport (31.9) (31.9) Site general and administration (9.0) (9.0) Royalties (27.4) (27.4) Inventory adjustment 0.3 0.3 Cost of goods sold (224.4) (224.4) Corporate general and administration (4.5) (10.6) (15.1) Exploration and other income/(expenses) (2.0) (3.9) (14.3) 3.0 (17.2) Net realisable value adjustments 14.3 14.3 Foreign exchange gain/(loss) (0.2) 2.2 2.0 Underlying EBITDA 313.5 (3.9) (14.3) (5.4) 289.9 Depreciation of PPE (76.7) (1.7) (78.4) Capitalised depreciation into inventory (25.7) (25.7) Net Depreciation (102.4) (1.7) (104.1) Underlying EBIT 211.1 (3.9) (14.3) (7.1) 185.8 Net finance income 5.2 Income tax expense (57.3) Underlying Net Profit after tax 133.7 Non-underlying items net of tax 5 (5.9) Net Profit for the half-year attributable to equity holders of OZ Minerals Limited 127.8 Net revenue attributable to Asian and Australian locations are $329.6 million and $200.7 million respectively and is based on the location of the customer s operations during the half year. 5 Corresponds to acquisition costs associated with the Avanco transaction of $5.9 million relating to due diligence, legal, transaction and consulting fees.

HALF-YEAR FINANCIAL REPORT 2018 17 For the half-year ended 30 June 2017 Prominent Hill Carrapateena Exploration & Development Corporate Consolidated Revenue Copper 377.9 377.9 Revenue Gold and Silver 111.1 111.1 Treatment and refining charges (43.1) (43.1) Net Revenue 445.9 445.9 Mining (143.7) (143.7) Processing (46.6) (46.6) Transport (30.5) (30.5) Site general and administration (11.0) (11.0) Royalties (22.3) (22.3) Deferred waste adjustment 4.0 4.0 Inventory adjustment 44.9 44.9 Cost of goods sold (205.2) (205.2) Corporate general and administration (5.3) (0.2) (10.5) (16.0) Exploration and other income/(expenses) (0.5) (10.0) 3.1 (7.4) Net realisable value adjustments 5.0 5.0 Foreign exchange gain/(loss) (4.2) (0.7) (4.9) Underlying EBITDA 235.7 (10.2) (8.1) 217.4 Depreciation of PPE (163.9) (1.3) (165.2) Capitalised depreciation into inventory 60.3 60.3 Net Depreciation (103.6) (1.3) (104.9) Underlying EBIT 132.1 (10.2) (9.4) 112.5 Net finance income 2.9 Income tax expense (34.8) Net Profit for the half-year attributable to equity holders of OZ Minerals Limited 80.6 Recognition and measurement of revenue The consolidated entity adopted AASB 15 during the financial period. Note 12 sets out the impact of the change. The revised accounting policy in respect of revenue is set out below. The consolidated entity generates sales revenue primarily from the obligation to transfer concentrate to the buyer and in some cases, based on the commercial terms of the contract, a secondary obligation to deliver it to the customer. Revenue is allocated between the performance obligations and recognised as each performance obligation is met, which for the primary obligation occurs when the concentrate is delivered to a vessel or location and for the secondary obligation if applicable when the concentrate is delivered to the customer s location. Revenue arising from the secondary obligation is immaterial to the group and aggregated with the primary obligation for disclosure purposes.

18 OZ MINERALS The Group s sale of concentrate incurs customary treatment and refining charges and other commercial costs consistent with industry practice. These items are in essence a deduction from the value of metal contained within the concentrate. These items are variable in nature and are accounted for as a deduction to revenue when it is recognised. As is industry practice the consolidated entity typically makes sales whereby the final sales price for the primary performance obligation is determined based on the market price prevailing at a date in the future. Revenue for the primary performance obligation is measured based on the fair value of the consideration specified in a contract with the customer at the time of settling the performance obligation and determined by reference to forward market prices. Provisional pricing adjustments, which occur between the fair value at the time of settling the primary performance obligation and the final price, are also recorded within revenue. 2. Earnings per share Basic and diluted earnings per share cents Half-year to 30 June 2018 Half-year to 30 June 2017 Basic and diluted earnings per share 42.7 27.0 Reconciliation of earnings used in calculating basic and diluted earnings per share - $ millions Profit after tax 127.8 80.6 Weighted average number of ordinary shares on issue used in the calculation of basic and diluted per share earnings 299,519,778 298,664,750 3. Income tax Income tax expense comprises current and deferred tax. Attributable current and deferred tax expense is recognised in other comprehensive income or directly in equity as is appropriate. Reconciliation of income tax expense to pre-tax profit Half-year to 30 June 2018 Half-year to 30 June 2017 Profit before income tax 185.1 115.4 Income tax expense at the Australian tax rate of 30 per cent (55.5) (34.6) Adjustments: Non-deductible expenditure (1.7) (0.2) Revision for prior periods (0.1) Income tax expense (57.3) (34.8) Deferred tax assets and liabilities 31 December 2017 Recognised in Income Statement Recognised in Equity Acquisition of Avanco 30 June 2018 Restricted tax losses 32.5 (2.6) 29.9 Property plant and equipment (105.4) (28.4) (170.1) (303.9) Inventories (4.7) (0.1) (4.8) Provisions and accruals 10.4 (1.1) 9.3 Derivative financial instruments 6.6 (5.1) 1.1 2.6 Other 13.2 (3.2) 10.0 Net deferred tax liabilities (47.4) (40.5) 1.1 (170.1) (256.9)

HALF-YEAR FINANCIAL REPORT 2018 19 4. Dividends Since the end of the half-year, the Board of Directors has resolved to pay an interim fully franked dividend of 8 cents per share, to be paid on 17 September 2018. The record date for entitlement to this dividend is 3 September 2018. The financial impact of the dividend amounting to $25.8 million has not been recognised in the Consolidated Half-year Financial Statements for the half-year ended 30 June 2018 and will be recognised in subsequent Consolidated Financial Statements. The details in relation to dividends announced or paid since 1 January 2017 are set out below: Record date Date of payment Fully franked cents per share Total dividends 3 September 2018 17 September 2018 8 25.8 12 March 2018 26 March 2018 14 41.8 7 September 2017 21 September 2017 6 17.9 10 March 2017 24 March 2017 14 41.8 Capital Employed 5. Inventories 30 June 2018 31 December 2017 Concentrates at cost 68.4 50.5 Ore stockpile at cost 188.5 191.2 Stores and consumables at cost 23.8 20.8 Inventories current 280.7 262.5 Ore stockpile non-current at cost 292.3 321.0 Ore stockpile non-current at net realisable value 177.7 163.4 Inventories non-current 470.0 484.4 Total Inventories 750.7 746.9 An assessment of the net realisable value of non-current ore resulted in an adjustment to increase the value of inventory by $14.3 million of which $7.8 million was attributable to unwind of discount in respect of low grade gold ore stockpiles in the half-year (30 June 2017: $5.0 million increase to inventory value). 6. Property, Plant and Equipment Plant and equipment Mine property and development Freehold land and buildings Capital work in progress 30 June 2018 Total At cost 1,225.3 2,251.0 188.2 629.7 4,294.2 Accumulated depreciation and impairment losses (858.6) (1,391.5) (130.1) (2,380.2) Closing carrying amount 366.7 859.5 58.1 629.7 1,914.0 Reconciliation of carrying amounts Opening carrying amount at 1 January 2018 313.5 330.1 60.9 471.3 1,175.8 Reclassification of Exploration assets Acquisitions through business combination 57.9 557.6 615.5 Additions and transfers 15.4 26.9 0.4 158.4 201.1 Depreciation expense (20.1) (55.1) (3.2) (78.4) Closing carrying amount at 30 June 2018 366.7 859.5 58.1 629.7 1,914.0 Depreciation expense was $78.4 million during the half-year compared to $165.2 million in the first half of 2017. Depreciation expense decreased primarily due to the closure of the open pit in the first quarter of 2018.

20 OZ MINERALS 7. Lease commitments The Consolidated Entity has signed a Transmission Connection Agreement (TCA) with ElectraNet for the transmission of 55 MW for the Carrapateena Project which requires ElectraNet to build a power substation at Mount Gunson. Under the TCA, ElectraNet is also required to build, own, operate and maintain a 132kv non-regulated overhead transmission line from the Mount Gunson substation to Carrapateena. Total future commitment for this arrangement is $168.6 million. Contributed Equity 8. Issued capital 30 June 2018 31 December 2017 319,794,285 shares (2017: 298,664,750 shares) 2,253.9 2,029.0 Share capital movement Number of shares Share capital Opening balance at 1 January 2018 298,664,750 2,029.0 Shares issued under business combination on: 21 June 2018 20,518,559 216.3 26 June 2018 312,923 3.1 28 June 2018 298,053 2.9 Equity contribution 2.6 Closing Balance at 30 June 2018 319,794,285 2,253.9 The Consolidated Entity issued 21,129,535 shares to Avanco shareholders as part of the purchase consideration during June 2018. Equity contribution represents the fair value of OZ Mineral shares to be issued to Avanco shareholders who had accepted the offer prior to 30 June 2018 for which shares had not been issued at 30 June 2018. Risk Management 9. Financial assets and liabilities Gold derivative contracts Gold forward contracts have been designated as cash flow hedges under AASB 9 and were assessed to be fully effective in managing underlying risk. Accordingly, a tax-effected fair value adjustment of $6.1 million was recognised in other comprehensive income. At 30 June 2018, contracts for 267,137 ounces of gold were outstanding, representing a derivative financial liability of $8.7 million, with an average strike price per quarter ranging from A$1,677 to A$1,825 per ounce. 10. Contingencies The Consolidated Entity had several contingent liabilities at 31 December 2017 and there were no substantive changes in the nature and assessment of the Consolidated Entity s contingent liabilities during the half-year.

HALF-YEAR FINANCIAL REPORT 2018 21 Group structure & other information 11. Parent entity disclosures During the Half-year the Consolidated Entity incorporated OZ Minerals Brazil (Holdings) Pty Ltd ACN 625 407 141 as a wholly owned subsidiary on 5 April 2018. OZ Minerals Brazil (Holdings) Pty Ltd obtained control of Avanco Resources Ltd and its wholly owned subsidiaries, as listed below, on 13 June 2018 all of which have US dollar functional currency: Country of incorporation Avanco Resources Ltd Avanco Holdings Pty Ltd Estrela Metals Ltd AVB Copper Pty Ltd AVB Brazil Pty Ltd AVB Carajas Pty Ltd AVB Minerals Pty Ltd Estrela de Brasil Mineração Ltda AVB Mineração Ltda Avanco Resources Mineração Ltda Vale Dourado Mineração Ltda MCT Mineração Ltda ARL South America Exploration Ltd ARL Holdings Ltd Avanco Luc S.a.r.l. Avanco Lux I S.C.S Australia Australia Australia Australia Australia Australia Australia Brazil Brazil Brazil Brazil Brazil Bermuda Bermuda Luxembourg Luxembourg 12. New accounting standards (i) Changes in accounting policies and mandatory standards adopted during the half-year The accounting policies applied by the Consolidated Entity in these Consolidated Half-year Financial Statements are consistent with those applied by the Consolidated Entity in its Annual Report for the year ended 31 December 2017 except for a new accounting policy in respect of revenue. The consolidated entity has for the first time applied AASB 15 Revenue from Contracts with Customers with effect from 1 January 2018. The impact of the change in accounting policy was accounted for using the full retrospective transitional provisions and did not have a material impact on the amount of revenue recognised as the transfer of risks and rewards under the previous AASB 118 Revenue coincides with the fulfillment of the performance obligation to transfer concentrate and revenue from freight services for Cost, Insurance and Freight contracts is immaterial in the current and comparative periods. (ii) Issued Standards not early adopted At the date of authorisation of the Financial Statements, AASB 16 Leases had been issued but was not yet effective. AASB16 Leases eliminates the distinction between operating and finance leases and brings all leases (other than short term and low value leases) onto the balance sheet. The standard does not apply mandatorily before 1 January 2019. The Consolidated Entity is currently undertaking an analysis of transition options and the on-going financial reporting impact.