7 March 2022

SALE OF METALLOYS MANGANESE ALLOY SMELTER WILL NOT PROCEED

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) advises that the sale of the Metalloys manganese alloy smelter (Metalloys) agreed by Samancor Manganese Proprietary Limited and Satka Investments Proprietary Limited in November 2021, will not proceed. This follows a failure to satisfy certain commercial conditions to the agreement.

Production at Metalloys ceased in March 2020 and the site is expected to remain on care and maintenance as we assess future options for the smelter.

About the Samancor Manganese Joint Venture

The Samancor Manganese Joint Venture is owned 60 per cent by South32, with the remaining 40 per cent held by Anglo American plc. The Joint Venture holds ownership interests in the Mamatwan and Wessels manganese mines and Metalloys manganese alloy smelter in South Africa and the GEMCO manganese mine in Australia.

About us

South32 is a globally diversified mining and metals company. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We produce commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from our operations in Australia, Southern Africa and South America. With a focus on growing our base metals exposure, we also have two development options in North America and several partnerships with junior explorers around the world.

Further information on South32 can be found at www.south32.net.

Approved for release by Graham Kerr, Chief Executive Officer
JSE Sponsor: The Standard Bank of South Africa Limited
7 March 2022