FY22 Overview & Safety Program Update

CAPITAL PROJECTS PIPELINE We have a pipeline of projects phased from pre-feasibility through to execution Operation Safe and reliable capital Illawarra Metallurgical Coal Project Transition to Appin single longwall Improvement and life extension capital Worsley Alumina Worsley Alumina Worsley Alumina Brazil Alumina Brazil Alumina Hillside Aluminium Sierra Gorda Sierra Gorda Cerro Matoso Australia Manganese South Africa Manganese Growth capital Hermosa New mining areas Mud-washing Coal to gas conversion De-bottlenecking Phase 2 MRN life extension AP3XLE De-bottlenecking Fourth line expansion OSMOC project Eastern Leases Rail infrastructure Taylor Deposit Hermosa Ambler Metals Notes: a. PFS FS Clark Deposit Arctic Deposit Execution FY23 Productivity and improvement Life extension FY24 Decarbonisation Project milestones are conditional on regulatory and internal investment approvals, and are subject to change. FS means feasibility study. PFS means pre-feasibility study. FY25 Commentary III SOUTH32 Appin single longwall to deliver efficiencies from FY25 Subject to regulatory approval FS expected in FY23 FS for first boiler conversion expected in FY23 ~4% expected increase in plant capacity from H1 FY26 PFS expected in late CY22 Implemented with pot relining over FY23-FY28 ~6% expected increase in plant capacity from Q2 FY23 FS expected in mid CY23 In execution, may trigger mine contract extension 36 FS expected in Q2 FY23 FS expected in FY23 FS expected in mid CY23 PFS selection study expected in late CY22 Arctic PFS underway by the Joint Venture SLIDE 25

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