Introduction

Our Economic Contribution Report (Report) for the year ended 30 June 2022 was released today.

BHP's performance this year has been strong. There has been increased economic volatility, inflationary pressures and global supply chain disruption, but managing uncertainty and risk is a core part of our business, and our systems and processes have allowed us to address these additional challenges in a disciplined way. This, along with our focus on operational excellence, the quality of our assets, and our leading approach to social value means that we remain better positioned to consistently deliver strong results through the cycle.

Our people have worked hard to support one another and keep our operations running safely and productively. This has enabled us to continue to provide significant support to local businesses, regional and Indigenous communities, to protect local jobs and pay taxes and royalties to governments.

BHP has a long-standing commitment to transparency. We recognise taxes are important sources of government revenue and are central to the fiscal policy and macroeconomic stability of countries. Paying the right amount of taxes and royalties enable governments to finance and deliver on national development plans for the benefit of the broader community to promote sustainable economic growth, full and productive employment, reducing poverty and inequality within and among countries. We have disclosed details of our tax and royalty payments for more than 20 years and during that time we have continually updated and expanded our disclosures. This Report meets the requirements of the Australian Voluntary Tax Transparency Code and aims to provide a greater understanding of BHP's global tax profile, tax contributions and the manner in which we govern and manage our tax obligations. Our Economic Contribution Report 2022 incorporates the requirements of the Global Reporting Initiative (GRI) Standard 207: Tax issued by the Global Sustainability Standards Board.

BHP is subject to the different tax regimes that apply in each of those countries and complies with applicable taxation laws in all the jurisdictions where we operate, including the Organisation for Economic Co-operation and Development (OECD) Country-by-Country reporting measures. This information provides tax authorities around the world with details of how we conduct our business and how BHP's entities transact with each other.

Our Economic Contribution Report 2022 has today been submitted to the FCA National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. It is also available to be downloaded on the BHP website at:

https://www.bhp.com/-/media/Documents/Investors/Annual-Reports/2022/220914_bhpeconomiccontributionreport2022.pdf

BHP's total direct economic contribution for FY2022 was US$78.1 billion. This includes payments to suppliers, wages and benefits for around 80,000 employees and contractors, dividends, taxes, royalties and voluntary investment in social projects across the communities where we operate.

In FY2022, our tax, royalty and other payments to governments totalled US$17.3 billion. Of this, 77.5 per cent or US$13.4 billion was paid in Australia. This makes BHP one of the largest corporate taxpayers   in Australia in FY2022. During the last decade, we paid US$90.5 billion globally in taxes, royalties and other payments, including US$70.0 billion (approximately A$90.1 billion) in Australia.

Below are extracted sections of our full Economic Contribution Report 2022 that together meet our UK regulatory obligations under DTR 4.3A of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and, where required by DTR 4.3A, the Reports on Payments to Governments Regulations 2014 (as amended).