South32 : 2021 South32 Sustainability Briefing

18 October 2021	South32 Limited
	(Incorporated in Australia under the Corporations Act 2001 (Cth))
	(ACN 093 732 597)
	ASX / LSE / JSE Share Code: S32 ADR: SOUHY
	ISIN: AU000000S320
	south32.net

2021 SOUTH32 SUSTAINABILITY BRIEFING

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) will be hosting a virtual Sustainability briefing at 4.00pm Australian Eastern Daylight Time.

A webcast of the event will be available to view live via the following link (https://web.lumiagm.com/#/m/368288648) using the 'guest' login. A recording of the session will be made available on the South32 website following its completion.

About us

South32 is a globally diversified mining and metals company. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We produce bauxite, alumina, aluminium, metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in Australia, Southern Africa and South America. With a focus on growing our base metals exposure, we also have two development options in North America and several partnerships with junior explorers around the world.

Investor Relations

Alex Volante	Susie Creswell
T	[phone]	T	+61	8 9324 9176
M	[phone]	M	+61	418 933 792
E	[e-mail]	E	[e-mail]
Media Relations
Miles Godfrey	Jenny White
M	[phone]	T	+44	20 7798 1773
E	[e-mail]	M	+44	7900 046 758
		E	[e-mail]

Further information on South32 can be found at www.south32.net.

Approved for release by Graham Kerr, Chief Executive Officer JSE Sponsor: UBS South Africa (Pty) Ltd 18 October 2021

Registered Office Level 35 108 St Georges Terrace Perth WA 6000 Australia

ABN 84 093 732 597 Registered in Australia

SUSTAINABILITY BRIEFING

18 October 2021

SUSTAINABILITY ACKNOWLEDGMENT AND STRATEGY

GrahamOFKerrCOUNTRY

AGENDA

1. Delivering on our purpose
2. Our approach to sustainability
3. Protecting and respecting our people
4. Addressing climate change
5. Operating ethically and responsibly
6. Partnering with local communities
7. Managing our environmental impact
8. Summary
9. Q&A

KAREN WOOD	GRAHAM KERR	KELLY O'ROURKE
Chair	Chief Executive Officer	Chief Legal and External
		Affairs Officer

VANESSA TORRES	BRENDAN HARRIS	KATIE TOVICH
Chief Technical Officer	Chief Human Resources and	Chief Financial Officer
	Commercial Officer

SLIDE 3

IMPORTANT NOTICES

This presentation should be read in conjunction with the "2021 Sustainable Development Report" released on 3 September 2021, which is available on South32's website (www.south32.net). Figures in italics indicate that an adjustment has been made since the figures were previously reported.

FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements, including statements about trends in commodity prices and currency exchange rates; demand for commodities; production forecasts; plans, strategies and objectives of management; capital costs and scheduling; operating costs; anticipated productive lives of projects, mines and facilities; and provisions and contingent liabilities. These forward-looking statements reflect expectations at the date of this presentation, however they are not guarantees or predictions of future performance or statements of fact. They involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. South32 makes no representation, assurance or guarantee as to the accuracy or likelihood or fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. Except as required by applicable laws or regulations, the South32 Group does not undertake to publicly update or review any forward-looking statements, whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance. South32 cautions against reliance on any forward-looking statements or guidance, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption arising in connection with COVID-19. The denotation "e" refers to an estimate or forecast year.

NON-IFRS FINANCIAL INFORMATION

This presentation includes certain non-IFRS financial measures, including Underlying earnings, Underlying EBIT and Underlying EBITDA, Basic Underlying earnings per share, Underlying effective tax rate, Underlying EBIT margin, Underlying EBITDA margin, Underlying return on invested capital, Free cash flow, net debt, net cash, net operating assets and ROIC. These measures are used internally by management to assess the performance of our business, make decisions on the allocation of our resources and assess operational management. Non-IFRS measures have not been subject to audit or review and should not be considered as an indication of or alternative to an IFRS measure of profitability, financial performance or liquidity.

NO OFFER OF SECURITIES

Nothing in this presentation should be read or understood as an offer or recommendation to buy or sell South32 securities, or be treated or relied upon as a recommendation or advice by South32.

RELIANCE ON THIRD PARTY INFORMATION

Any information contained in this presentation that has been derived from publicly available sources (or views based on such information) has not been independently verified. The South32 Group does not make any representation or warranty about the accuracy, completeness or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by South32.

NO FINANCIAL OR INVESTMENT ADVICE - SOUTH AFRICA

South32 does not provide any financial or investment 'advice' as that term is defined in the South African Financial Advisory and Intermediary Services Act, 37 of 2002.

MINERAL RESOURCES AND RESERVES

Information in this presentation that relates to Ore Reserve or Mineral Resource estimates was declared as part of South32's annual Resource and Reserve declaration in the FY21 Annual Report (www.south32.net) issued on 3 September 2021 and prepared by Competent Persons in accordance with the requirements of the JORC Code. South32 confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. All material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. South32 confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

SLIDE 4