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57132012 3-Year Business PlanAiming to be a World Leader in the Non-Ferrous Metal industryand an Excellent Company of JapanFebruary 2013SUMITOMO METAL MINING CO., LTD.Nobumasa KemoriPresident and Representative DirectorSUMITOMO METAL MINING CO., LTD.

ContentsⅠLong-Term Vision (LTV) &Basic Strategy of 12 3-Yr Business PlanⅡOur Business EnvironmentⅢCore Business Growth StrategyⅣPlatform ReinforcementⅤFinancial Information andSupplementary MaterialsSUMITOMO METAL MINING CO., LTD.2

I. Long-Term Vision (LTV) & Basic Strategy of 12 3-Yr Business PlanSierra Gorda ProjectSUMITOMO METAL MINING CO., LTD.3

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan1) Our GoalsOur GoalsWorld Leader in the Non-Ferrous Metals industryExcellent Company of JapanSUMITOMO METAL MINING CO., LTD.4

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan2) Long-Term Vision TargetsAiming to be a World Leader in theNon-Ferrous Metals Industry&an Excellent Company of JapanTargetsWorld Leader in the Non-Ferrous Metals IndustryFY 2021Nickel150ktCopperinterests300ktGold 30 tNewmaterialsRecurringprofit 5 billionExcellent Company of JapanNet Sales 1 trillionNet IncomeSUMITOMO METAL MINING CO., LTD. 100 billion5

3) Long-Term Vision TargetsWorld Leader in the Non-Ferrous Metals& Basic StrategyⅠ ofLTV12 3-Yr Business PlanWorld Leader in the Non-Ferrous Metals IndustryWe are contributing to society by securing superior mineral resources,smelting and refining those resources into metal, and supplying them to the market.To provide added value in Materials Business that uses non-ferrous metals.Operates its ownmines and smeltersboth in Japan and abroadAmong the top 5 companies inthe world in production volumeMineralResources Expand our resource interests Pursue our own profit in mining business Stable procurement of raw materials forSmelting & Refining BusinessSmelting &RefiningMaterials Develop globally by being highly competitive Smelting technologies ofless environmental impact Expanded recycling of valuable metals Growth in the Environment & Energy domain Development of new materials Continuous structural reformSUMITOMO METAL MINING CO., LTD.6

4) Long-Term Vision Targets& Basic StrategyⅠ ofLTV12 3-Yr Business PlanExcellent Company of JapanExcellent Company of JapanA solid corporate philosophyand management visionPracticing corporate governanceand CSR activities as a pillar ofour businessNet sales: 1 trillionNet income: 100 billionLays out continuousgrowth strategySUMITOMO METAL MINING CO., LTD.7

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan5) Strengths Supporting StrategyGrowing business and improving corporate valuethrough the execution of a continuous growth strategyStrategies that build on strengthsMineralResourcesSmelting &RefiningCapability of Exploration andproject development cultivatedover a long history in the worldOutstanding pyrometallurgical andhydrometallurgical technologiesCapacity toexpand businessgloballyMaterialsUsing strengths of upstream fieldsin the Environment & EnergydomainSoundfinancial positionTechnology andR&D expertiseSUMITOMO METAL MINING CO., LTD.8

6) Positioning of the 12 3-Yr Business PlanBecome a World Leader in theNon-Ferrous Metals Industry &an Excellent Company ofJapanLong-Term VisionFY2013-201512 3-Yr Business Plan& Basic StrategyⅠ ofLTV12 3-Yr Business PlanExecute acontinuousgrowth 09 3-Yr Business PlanFY2004-200903 & 06 3-YrBusiness PlansStrengthenPlatform for globalcompetitionSUMITOMO METAL MINING CO., LTD.9

& Basic Strategy7) Key Strategies of the 12 3-Yr Business Plan Ⅰ ofLTV12 3-Yr Business PlanTop priorities in the 12 3-Yr Business Plan Promote and establish operations in the Sierra Gorda Project Complete the Taganito Project and ensure a smooth launch of operations Implement structural reforms in the Materials Business and stable acquisition of own profit Reduce costs by 10 billion/year(Cut costs company-wide to compensatefor increases in the costs of overseas locations and head office expenses)Strategies for achieving our Long-Term VisionPlanting plans for the periodcovered in the 12 3-Yr Business PlanSowing plans for the periodcovered in the 15 3-Yr Business Plan Existing copper mine expansion project Own Cu/Au exploration Sierra Gorda Phase 2, Oxide Ore Project Copper mine development projects in Northand South America HPAL development, efforts to improvecompetitiveness Au (Stone Boy, etc.) projects Recycling of valuable metals 3rd and 4th HPAL, 2nd Ni Refinery New Ni resources explorationSUMITOMO METAL MINING CO., LTD.10

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan8) Systems Supporting StrategiesHarvestingNurturingPlantingSowingSelect and determinepotential projectsDetermination of projectimplementing structure project completionFull-Scale productionRamp up – achieve thedesigned capacityConfirm progress atEnterprise Value Enhancement Committee MeetingEvery period of 3-year plan includes large-scale projects in our three corebusinesses: Mineral Resources, Smelting & Refining, and Materials.Vigorous developments are being made in each stage:Sowing, Planting, Nurturing, and HarvestingSUMITOMO METAL MINING CO., LTD.11

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan9) Profit Trends (1)（JPY100M）Trends of Recurring profit in each 3-Year plan1,5001,5001,1991,1291,09203 3-YearAverage06 3-YearAverage09 3-YearAverage1,000500012 3-Year2015（JPY100M）12 3YearPlan201503 3-YearPlan06 3-YearPlan09 3-YearPlanTotal of Recurring profit ineach 3-Year Plan（Result and 2012 Forecast）3,5973,3863,276-Yearly averageof each 3-Year plan1,1991,1291,0921,500SUMITOMO METAL MINING CO., LTD.12

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan9) Profit Trends (2)( 100 million)Recurring Profit1,750Net Profit1,5001,2501,000750500250009 3-Yr Plan20122010201109 3-Yr Plan20122012Forecast201012 3-Yr Plan20152012Forecast201112 3-Yr Plan20151,1001,2381,0889501,5007008416537301,000Cu price ( /T)6,0008,1408,4857,8737,500Ni price ( 5.779.181.380.0Recurring profit ( 100 million)Net income ( 100 million)Au price ( /toz)Forex ( / )SUMITOMO METAL MINING CO., LTD.13

10) Recurring Profit Analysis& Basic StrategyⅠ ofLTV12 3-Yr Business Plan12 3-Yr Plan 2015 vs. FY12 Forecast( 100 fects(excludingcost cuts)VNCCostreductionNi (70)801,2504001,000750500 Sierra Gorda: 60 Morenci: 100 Taganito /Increased production of E-Ni: 2301,50095025002012Forecast12 3-Year2015SUMITOMO METAL MINING CO., LTD.14

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan11) Profit Trends by Segment1,750( 100 500Smelting egmentprofit201012 3-Yr Plan20152012Forecast201112 3-Yr Plan2015※Mineral Resources705805640760Smelting & 0-39-530-601,2381,0889501,500AdjustmentRecurring profit※FY2010‐FY2012 : Contribution Margin (Earlier Bases) 12 3‐Yr 2015 : New Segment ProfitSUMITOMO METAL MINING CO., LTD.(Unit: 100 million)15

& Basic StrategyⅠ ofLTV12 3-Yr Business Plan12) Investments in Large Projects06 3-Yr PlanMineralResourcesOtherMaterials6009 3-Yr Plan19070300370Smelting &RefiningMaterials390100Overseas interest140480 170billion 193billionSmelting &Refining 100millionMineralResources260Smelting &Refining(CBNC) OtherMaterials230Smelting & Refining(Japan, etc.)Smelting &Refining(CBNC)Smelting & Refining(Japan, etc.)90 170290 138billionMineralResourcesOtherSmelting &Refining(Taganito)12 3-Yr PlanOverseas interest1,050Smelting &Refining(Taganito) 100millionPogo200Sierra ITOMO METAL MINING CO., LTD.350Smelting &Smelting & Refining Refining(Japan, etc.)110Smelting &Refining(CBNC) 360Smelting &Refining(Taganito)Acquisition ofoverseas interest16

13) R&D Expenses, Exploration Expenses& Basic StrategyⅠ ofLTV12 3-Yr Business Plan( 100 million)500R&D expensesExploration expensesR&D400200300 Acceleration of new product developmentin Materials Business Technological innovations in MineralResources and Smelting & Refining Promotion of process development200240100Exploration Expand target area Acquisition of advance-stageexploration projects006 3-YrPlan09 3-YrPlan12 3-YrPlanSUMITOMO METAL MINING CO., LTD.17

14) Financial Strategies(1) Maintenance of a Sound Financial Structure( 100 million)Equity ratio61%14,00012,000& Basic StrategyⅠ ofLTV12 3-Yr Business Plan(%)7060D/E ratio0.3510,0008,00050Total assets406,00030ROE12%4,0002,000009 3-Yr Plan2012201020112012ForecastSUMITOMO METAL MINING CO., LTD.12 3-Yr quity ratio10Debt-to-equityratio0ROE18

14) Financial Strategies(2) Dividend Policy and Financial Structure& Basic StrategyⅠ ofLTV12 3-Yr Business PlanDividend policy Continue performance linked dividend Profit ReturnConsolidated dividend payout ratio raised from20% or higher 25% or higherFinancial structure Keep sufficient cash on handPrepare for large-scale projects Maintain an equity ratio of 50% or higherSUMITOMO METAL MINING CO., LTD.19

II. Business EnvironmentCelebration of Hishikari Mine 30th Anniversary and total production of 200 tonsSUMITOMO METAL MINING CO., LTD.20

1) General Conditions - Global GDP GrowthⅡBusiness Environment(%)12108ChinaWorld6United States4Advanced EconomiesEuro Area2Japan0-22010201120122013201420152016SUMITOMO METAL MINING CO., LTD.2017(IMF Oct. 2012 forecast)21

Ⅱ2) Prices of Metals35Business EnvironmentIndex: Jan. 1973 /11993/11997/1SUMITOMO METAL MINING CO., LTD.2001/12005/12009/12013/122

Ⅱ3) Long-Term Forecast (Cu)Business Environment(kt)30,000Total Refined Cu Production25,000Refined Cu 01320142015201620172018(SMM forecast)Trending from a slightly excess supply to asupply-demand balanceSUMITOMO METAL MINING CO., LTD.23

Ⅱ4) Long-Term Forecast (Ni)Business Environment(kt)2,500Nickel ProductionNickel 20142015201620172018(SMM forecast)Currently there is excess supply, but asupply shortage is forecast for the futureSUMITOMO METAL MINING CO., LTD.24

Ⅱ5) Forex Trends（ / ） / \/ Business Environment（ / ）1.71301.61201.51101.41001.3901.2801.170109/1 09/4 09/7 09/10 10/1 10/4 10/7 10/10 11/1 11/4 11/7 11/10 12/1 12/4 12/7 12/10 13/1SUMITOMO METAL MINING CO., LTD.6025

III. Core Business Growth StrategyTaganito ProjectSUMITOMO METAL MINING CO., LTD.26

1) Mineral ResourcesⅢ(1) Roadmap Ahead for Cu, Ni, Au(kt)300250New minesCuExisting mines (include Sierra Gorda)300,000t200CuCore BusinessGrowth 021NiExsisting 62021AuNew minesExisting mines30t10020122013201420152016SUMITOMO METAL MINING CO., LTD.202127

1) Mineral Resources(2) Three Methods of Overseas Resource AcquisitionⅢCore BusinessGrowth Strategy1) Exploration by SMM Majority acquisition is possible Considerable time needed beforemining can startStone Boy Project (Au) Evaluation stageSolomon Project (Ni) F/S development2) Participation in mine development projects Operable in a relatively short period Difficult to acquire a majority share Risks of competition with othercompanies, increased expensesSierra Gorda Project (Cu)Established in 2014/Moving to next phaseInvestigating introduction of new projectsAlso actively evaluating proposals prior to F/S3) Increasing production at existing mines Pursue a win-win situation with our partners There are not many project for large-scaleproduction increases Difficult to increase SMM’s share of interests(Cu mines)MorenciFull production sch. for 2014Q3Cerro Verde Full production sch. for end of 2015Northparkes Pre/FS implementation scheduledSUMITOMO METAL MINING CO., LTD.28

1) Mineral Resources(3) Participation in Development Projects - Sierra Gorda Project -CuSierra GordaⅢ2013Phase 1 (110kt annual production capacity):Promote construction work for business launch2014Production begins, Phase 1 ramp up2015Phase 2 (220kt annual production capacity):Start constructionEvaluate Oxide Ore Project, make decision aboutparticipation2018・Oxide Ore Project operations to begin(annual production of 30kt to 40kt with SX-EW)・Operating with 220kt tons in annual production(Concentrate, Cu equivalent)Core BusinessGrowth StrategyAntofagastaSantiagoInvestment 2.9Bfor Phase 1EquityinterestratiosSUMITOMO METAL MINING CO., LTD.KGHMSMMSumitomo Corp.55%31.5%13.5%29