16 FEBRUARY 2023

South32 Limited

(Incorporated in Australia under the Corporations Act 2001 (Cth))

(ACN 093 732 597)

ASX / LSE / JSE Share Code: S32; ADR: SOUHY

ISIN: AU000000S320

south32.net

SOUTH32 LEAD TEAM CHANGES

South32 Limited (ASX / LSE / JSE: S32; ADR: SOUHY) (South32)

Chief Executive Officer Graham Kerr today announced changes to South32's Lead Team that will take effect on 1 April 2023.

After almost four years as South32's Chief Financial Officer, Katie Tovich will be appointed to the role of Chief Human Resources and Commercial Officer.

With this change, Vice President Finance Sandy Sibenaler will be appointed Chief Financial Officer.

Mr Kerr said: "These changes position us well for the future and I'm pleased that we've been able to make these appointments from within the business, reflecting the depth of our succession pipeline.

"Katie has been an integral part of South32 since formation and has held key roles across finance, investor relations, treasury and external affairs.

"She has been an outstanding Chief Financial Officer, overseeing our disciplined approach to capital management, strong balance sheet and the delivery of record returns to shareholders.

"Katie brings extensive marketing and commercial experience to the role of Chief Human Resources and Commercial Officer. This, combined with her deep industry and operational knowledge, means she is ideally placed to excel in this position."

Ms Sibenaler brings more than 20 years of treasury, finance and commercial experience to the Chief Financial Officer role, most recently as our Vice President Finance.

"Sandy will be responsible for the Group's finance, treasury, risk and assurance, investor relations and tax functions and will continue to deliver our disciplined approach to capital management," Mr Kerr said.

"Sandy has a depth of experience in strategic financial planning, funding and risk management and brings both personal drive and strong leadership to the role. Sandy is a passionate advocate for diversity and creating safe and inclusive work environments.

"I congratulate Sandy on her appointment and welcome her to the Lead Team.

"Finally, I'd like to thank Rob Jackson for his contribution as acting Chief Human Resources and Commercial Officer. Rob will resume his substantive role as South32's Vice President Supply."

 Sandy Sibenaler biography

Sandy Sibenaler has more than 20 years' finance and commercial experience in the resources sector and has held the role of Vice President Finance with South32 since February 2021.

Prior to South32, Sandy held senior finance and commercial roles at Woodside, including Vice President Treasury and Insurance. In this role she was responsible for the implementation of key global funding, risk and insurance strategies for the Woodside group of companies. Earlier in her career, Sandy held a range of senior finance positions in Australia and London with Woodside, BHP and EY Australia.

Sandy holds a Bachelor of Commerce from the University of Western Australia, a Master of Finance from Kaplan, is a fellow of Chartered Accountants Australia and New Zealand and a graduate of the Australian Institute of Company Directors.

Katie Tovich biography

Katie Tovich has more than 25 years' global experience in the resources sector covering commodities marketing, finance, risk management, external affairs, and investor relations. At South32, Katie has held senior leadership positions including Chief Financial Officer, Vice President Corporate Affairs and Investor Relations, and Head of Treasury.

Prior to South32, Katie held senior finance and marketing roles at BHP in Australia and Asia, including Vice President Corporate Finance, Head of Finance Worsley Alumina and Vice President Finance Marketing - Carbon Steel Materials. Earlier in her career, Katie held finance and marketing management positions at WMC Resources Limited in Australia and North America.

Katie holds a Bachelor of Commerce degree from the University of Tasmania. She is also a member of the Institute of Chartered Accountants Australia and New Zealand and a graduate of the Australian Institute of Company Directors.

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 to the market by Graham Kerr, Chief Executive Officer
JSE Sponsor: The Standard Bank of South Africa Limited
16 February 2023