H1 FY21 Finance and Cost Analysis

H1 FY21 SUMMARY Underlying EBITDA US$633M Operating margin 23% Record production at 3 operations H1 FY21 Operating unit costs in-line with or below guidance for the majority of operations Net cash balance US$275M US$160M returned to shareholders (a) Interim ordinary dividend US$67M (1.4 US cents per share) Capital management program expanded by US$250M with US$259M remaining to be allocated FY21 production guidance increased at 3 operations Operating unit cost outlook well controlled, despite stronger FX Exiting lower returning businesses and progressing our growth options in base metals Notes: a. Includes FY20 final ordinary dividend of US$48M and on-market share buy-back of US$112M. SLIDE 31 III SOUTH32

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