13 December 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

WORSLEY ALUMINA APPROVALS UPDATE

South32 Limited (ASX / LSE / JSE: S32; ADR: SOUHY) (South32) provides the following update regarding approvals for the Worsley Mine Development Project (Project), our mine life extension project at Worsley Alumina.

As previously announced, the Western Australian Environmental Protection Authority (WA EPA) recommended the Project be approved, subject to conditions[1].

Worsley Alumina subsequently lodged an appeal in relation to the WA EPA assessment report, as several proposed conditions would create significant operating challenges, and went beyond reasonable measures for managing environmental risks based on scientific assessment and decades of operating experience.

On 12 December 2024, the Western Australian Minister for Environment determined the appeal outcome for the Project.

We are pleased to advise that the Minister has determined after considering available information, that the EPA's assessment and overall conclusion that the Project may be implemented, subject to conditions, is reasonable.

Further, the Minister has agreed with the Appeals Committee's recommendations to amend specific conditions based on the arguments presented during the appeals process, including by Worsley Alumina.

A copy of the Minister's determination and the Appeals Committee report to the Minister is available at: https://www.wa.gov.au/organisation/office-of-the-appeals-convenor.

The Minister's determination is a positive outcome for Worsley Alumina.

In particular, it is consistent with the Western Australian Government's Greenhouse Gas Emissions Policy for Major Projects[2], with greenhouse gas emissions to be regulated in accordance with the Commonwealth Government Safeguard Mechanism and unnecessary duplication between Commonwealth and State regulation removed.

A detailed assessment of other conditions referred to in the Minister's determination is underway.

State approval of the Project through a Ministerial Statement from the Western Australian Minister for Environment is expected later this month.

Federal approval is expected in early calendar year 2025.

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, zinc, lead, silver, nickel 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.

Approved for release to the market by Graham Kerr, Chief Executive Officer
JSE Sponsor: The Standard Bank of South Africa Limited
13 December 2024