FY22 Overview & Safety Program Update

OPERATING UNIT COSTS PERFORMANCE AND GUIDANCE III SOUTH32 Worsley Alumina (US$/t)33 +8% 296 274 256 H1 FY22 H2 FY22 FY23e Hillside Aluminium (US$/t) 1,935 2,318 H1 FY22 H2 FY22 Guidance not provided FY23e FY23 guidance +8% from H2 FY22 Significantly higher caustic soda prices and an increase in planned consumption, combined with increased freight costs, partially offset by a weaker Australian dollar Guidance not provided Will continue to be influenced by the price of raw material inputs, the South African rand and inflation-linked energy costs Brazil Alumina (non-operated) (US$/t) 262 312 H1 FY22 H2 FY22 Mozal Aluminium (US$/t) 2,008 2,429 H1 FY22 H2 FY22 Guidance not provided FY23e Guidance not provided Lower volumes and costs to recover from the unloader outage, added to higher raw material and energy costs in FY22 FY23 costs will continue to be influenced by energy prices and raw material inputs, including caustic soda Guidance not provided Guidance not provided Will continue to be influenced by the price of raw materials inputs, the South African rand and inflation-linked energy costs FY23e SLIDE 22

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