H1 FY21 Finance and Cost Analysis

H1 FY21 FINANCIAL SUMMARY Notes: a. b. Net profit after tax US$53M Underlying earnings US$136M Underlying EBITDA US$633M Operating margin 23% Operating unit costs in-line with or below guidance for the majority of operations Free cash flow (a) US$188M Net cash balance US$275M US$160M returned to shareholders (b) Interim ordinary dividend US$67M (1.4 US cents per share) Capital management program expanded by US$250M to US$1.68B US$259M remaining to be allocated Free cash flow from operations including net distributions from our manganese equity accounted investments (EAI). Includes FY20 final ordinary dividend of US$48M and on-market share buy-back of US$112M. SLIDE 7 III SOUTH32

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