18 May - 3 min read

Climate Commitment and Capital Management Program Increase

Climate Commitment and Capital Management Program Increase

South32 Limited
(Incorporated in Australia under the Corporations Act 2001)
(ACN 093 732 597)
ASX / LSE / JSE Share Code: S32 ADR: SOUHY
ISIN: AU000000S320


South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) will host a call with equity analysts and investors
today to discuss our operational performance and strategy, including an increase to our capital management program
by US$200M to US$1.88B and our intent to achieve a 50% reduction in Scope 1 and 2 operational emissions by     
FY35[note 1].

South32 Chief Executive Officer, Graham Kerr said “Our briefing provides an opportunity to update all of our
stakeholders on the future of South32. We are sustainably reshaping our business for a low carbon future by
increasing our exposure to base metals. We have set a new medium-term target to halve our operational emissions
by 2035 and are investing in efficiency projects, applying low carbon design principles and evaluating carbon
reduction technologies to achieve this goal.

“Demonstrating the continued strength of our operating and financial performance, as well as the positive outlook for
our business, we are also announcing a further US$200 million to be returned to shareholders through our capital
management program. This decision is supported by our strong balance sheet and disciplined approach to capital
allocation, and will take total returns to shareholders by our capital management program to US$1.88 billion.”

The following document has today been submitted to the National Storage Mechanism and will shortly be available for
inspection at http://www.morningstar.co.uk/uk/nsm:

-    South32 Limited – New Climate Commitment and Increase to Capital Management Program

Further information

Our emissions performance will be independently reviewed and reported as part of our annual reporting suite. We are
also considering the most appropriate way to incorporate performance measures in our remuneration framework that
are directly linked to our response to climate change and the longer-term commitments we’ve made.

The US$200M increase in our capital management program leaves US$316M to be returned to shareholders by
3 September 2021, initially by continuing our on-market share buy-back. The associated Appendix 3D is attached to
this announcement.

Conference call

South32 will hold a conference call at 9.00 am Australian Western Standard Time the details of which are as follows:

Conference ID: 10014026
Please pre-register for this call at link.

Separately a video presentation will be made available on the South32 website, as well as a recording of the
conference call following its completion (https://www.south32.net/investors-media/investor-centre/presentations-

[note 1]  Compared with FY21 Baseline. The baseline will be adjusted for any material acquisitions or divestments based on emissions at the time of the

Registered Office Level 35 108 St Georges Terrace Perth WA 6000 Australia
ABN 84 093 732 597 Registered in Australia                                                                                              1
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

Investor Relations
Alex Volante                                Tom Gallop
T +61 8 9324 9029                           T +61 8 9324 9030
M +61 403 328 408                           M +61 439 353 948
E Alex.Volante@south32.net                  E Tom.Gallop@south32.net

Media Relations
Rebecca Keenan                              Jenny White
T +61 8 9324 9364                           T +44 20 7798 1773
M +61 402 087 055                           M +44 7900 046 758
E Rebecca.Keenan@south32.net                E Jenny.White@south32.net

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
18 May 2021


Date: 18-05-2021 08:10:00
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