H1 FY21 Finance and Cost Analysis

OUR STRATEGY A simple strategy underpinned by a disciplined capital management framework III SOUTH32 © OPTIMISE our business by working safely, minimising our impact, consistently delivering stable and predictable performance and continually improving our competitiveness. 6 UNLOCK the full value of our business. IDENTIFY and pursue opportunities to sustainably reshape our business for the future, and create enduring social, environmental and economic value. SLIDE 4

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