CANBERA (dpa-AFX) - South32 Ltd. (SOUHY.PK, SHTLF.PK), an Australian mining
and metals company, reported its profit attributable to equity holders of the
company for the half year ended 31 December 2023 dropped to $53 million or 1.2
cents per share from $685 million or 14.8 cents per share last year.

Underlying earnings were $40 million down from $560 million in the prior year.

Profit before tax was $66 million down from $885 million in the prior year.

Revenues declined to $3.13 billion from $3.70 billion in the previous year.

The Board has resolved to pay an interim dividend of US 0.4 cents per share for
the half year ended 31 December 2023. The record date for determining
entitlements to dividends is 8 March 2024; payment date is 4 April 2024.

The company said it remains on track for a final investment decision for the
fourth grinding line expansion at Sierra Gorda during the fourth quarter of
fiscal year 2024 and continues to progress more than 25 greenfield exploration
options in base metals.

The company expects to deliver a 7% increase in Group payable copper equivalent
production in the second-half of fiscal year 2024 following the completion of
planned longwall moves at Illawarra Metallurgical Coal in the first-half of
fiscal year 2024, the continued ramp up of the Brazil Aluminium smelter, and
sequentially higher base metals volumes from Sierra Gorda and Cerro Matoso.

Looking forward, the company expects Group payable copper equivalent production
growth of 3% in fiscal year 2025.

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