Sims Limited (SMSMY) Analyst/Investor Day Transcript

Sims Limited ( SMSMY ) Analyst/Investor Day September 18, 2026 10:00 AM EDT Company Participants Stephen Mikkelsen - Group CEO, Director & MD Robert Thompson - President of Global Metal Warrick R. Ranson - Group Chief Financial Officer Conference Call Participants Lee Power - JPMorgan Chase & Co, Research Division Daniel Sykes - Jarden Limited, Research Division Presentation Stephen Mikkelsen Group CEO, Director & MD Good morning, everybody, and welcome to Houston. For those of you online, welcome as well. First thing I want to do is provide a little bit of context for the heading we've got here, Leaving Base Camp From Turnaround to Scalable Growth. As we were turning around Sims, and that sort of began about 3 years ago, we used the concept of must-win battles, and I might talk a little bit about those later. I think what must-win battles have done is have got us to a level of really good sustainable earning now, but that was never the final objective. The final objective was scalable growth, and we now describe that as leaving base camp. I want to go through the presentation for today through the disclaimer there. On the agenda, the first thing I can say happily for those of who of us were here last time, there are no TSA issues. We don't need to rush through this presentation and miss the tour. So we can take it at a leisurely pace today, which is good to see. So I'm going to start off with, I guess, an overview looking at group strategy but with more of a focus on Metal. Tomorrow is about SLS. Rob is going to come up and give us a more in-depth presentation on the Metal business. Warrick will come up and do what CFOs do, and he will cover off on everything to do with capital management. We'll come back for Q&A. If we could