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Investor Presentaiton

SIERRA GORDA COPPER The acquisition of Sierra Gorda has lifted Group margins and embedded options for further copper growth Sierra Gorda location Catabela open pit Pampa Lina target area Processing plant Notes: a. 100% basis. b. Refer to important notices (slide 2) for additional disclosure. Catabela pit remains open at depth Future drilling campaigns to test depth potential Spence mine 10km N Capital efficient plant de-bottlenecking SOUTH32 On-track to increase plant throughput to 48-49Mtpa(a) from FY24 Fourth grinding line feasibility study in H1 FY24 Addition of a fourth grinding line has the potential to lift throughput to 57-58Mtpa(a) Exploration programs testing nearby copper porphyry exploration potential 15,000 metre exploration drilling program underway, focused on the Pampa Lina copper porphyry prospect Brownfield oxide project optionality Studying options to unlock value from ~110 Mt of stockpiled oxide material(b) SLIDE 16
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