Strong Foundation for Growth, Decarbonisation and Shareholder Returns
Group level financial guidance
CAPEX
2022
2023
2024
Total Group
~$8.0bn
~$9.0 10.0bn
~$9.0 10.0bn
Sustaining Capex
~$3.5bn
~$3.5bn
~$3.5bn
Group
Pilbara Sustaining
~$1.5bn
~$1.5bn
~$1.5bn
Capex
$0.5bn* per year to decarbonise our assets
from 2022 to 2024
Total decarbonisation investment of ~$7.5bn*
from 2022 to 2030, predominantly in second
half of decade
Ambition to grow and decarbonise reflected in
2023-24 capex of $9-10bn including up to $3bn
in growth spending, depending on opportunities
Replacement spending $2-3bn per year
Effective tax rate
Returns
30%
Total returns of 40 - 60% of underlying earnings through the cycle
*Estimated investment as of 31 Dec 2021. Marginal Abatement Cost Curves (MACC) and large decarbonisation projects will
be updated regularly
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