15 February 2024

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

FINAL INVESTMENT APPROVAL TO DEVELOP HERMOSA'S TAYLOR DEPOSIT

The following announcement has today been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism:

·      Final Investment Approval to Develop Hermosa's Taylor Deposit

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) held a conference call at 8.30am Australian Western Standard Time to discuss South32's 2024 half year financial results materials and this announcement. The conference call recording is available on the South32 website (https://www.south32.net/investors/presentations-speeches).

Separately a video presentation by South32 Chief Executive Officer, Graham Kerr, will be made available on the South32 website (https://www.south32.net/news-media/latest-news).

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. We also have a portfolio of high-quality development projects and options, and exploration prospects, consistent with our strategy to reshape our portfolio toward commodities that are critical for a low-carbon future.

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

JSE Sponsor: The Standard Bank of South Africa Limited
15 February 2024