2023 Full-year results

Chemicals, Energy and Fertilisers outlook . • • • • • Chemicals earnings are expected to be adversely impacted in FY24 by lower global ammonia pricing Increasing WA natural gas costs expected to impact both Chemicals and Energy earnings, with domestic market supply constraints likely to lead to continued elevated prices over the medium term In Fertilisers, successive strong harvests, moderating input costs and an improved grain pricing outlook are contributing to a generally positive grower sentiment, but earnings remain dependent upon seasonal conditions First earnings from the Lithium business expected in 1H CY24 from the sale of interim spodumene concentrate, with forecast sales volume of approximately 50kt¹ for FY24, in line with prior guidance - - Sales volumes remain dependent on successful commissioning and planned ramp-up of the concentrator Kwinana refinery production timing and capex remains in line with guidance provided in the 1H23 results The study to expand production capacity at the Mt Holland mine and concentrator will continue to be progressed, with regulatory approvals expected to be submitted over the coming months WesCEF continues to evaluate and implement opportunities within its key strategic focus areas Progression of major growth project pipeline - Investment in divisional systems including a new ERP² to support long-term growth Drive division's decarbonisation strategy through investment in abatement initiatives Earnings remain subject to global commodity prices, exchange rates, competitive factors and seasonal outcomes 1. Assumed lithium oxide (Li₂O) grade of 5.5 per cent. 2. Enterprise Resource Planning system. 2023 Full-year results | 37

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