Illawarra Project Update

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

5 February 2021

ILLAWARRA METALLURGICAL COAL DENDROBIUM NEXT DOMAIN PROJECT UPDATE

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) is aware an assessment report from the New South Wales Independent Planning Commission (IPC) has been released recommending against approval of the Dendrobium Next Domain project.

We are reviewing its findings and will continue to engage with key stakeholders including the New South Wales Government, relevant agencies and the community in relation to the Dendrobium Next Domain project ahead of providing further updates.

About South32

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 bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at 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 Nicole Duncan, Company Secretary

JSE Sponsor:  UBS South Africa (Pty) Ltd

5 February 2021