Our Operational Review for the nine months ended 31 March 2023

We have released our Operational Review for the nine months ended 31 March 2023.

BHP Chief Executive Officer, Mike Henry:

Safety is paramount, and we are deeply saddened by the tragic death of Jody Byrne in an incident at Port Hedland in February. An investigation into the cause of the incident is underway, the findings of which will be shared widely.

Our WA iron ore business achieved record production, and total copper output for the Group was up for the nine months, while metallurgical coal volumes were down slightly due to significant wet weather. Overall copper production for the year remains on track, however weve reduced production guidance at Escondida and also at Nickel West. We continue to focus on safety, productivity and costs as we navigate ongoing challenges and inflationary impacts.

Last week, OZ Minerals shareholders voted overwhelmingly in favour of BHPs offer. We are now focused on the safe integration of the two businesses and we look forward to building an internationally competitive copper business in South Australia and incorporating West Musgrave into our nickel options in Western Australia. We are pursuing growth options in copper and nickel globally we aim to have up to 10 drill rigs on the ground at Oak Dam in South Australia in the next few months and have seen promising results from a potential new copper prospect in Arizona. In Canada, we signed $260 million (CAD) in new contracts with Indigenous suppliers in March, and construction of the Jansen potash project is on track.

Recent engagements with customers in China and India have reaffirmed our positive outlook for commodity demand, with Chinas economic rebound and solid momentum in Indias steelmaking growth helping to offset the impact of slowing growth in the US, Japan and Europe.