Financial Data and Key Metrics - Underlying EBITDA increased by 4% with a healthy margin of 54% [10] - Adjusted effective tax rate including royalties was around 42%, resulting in an underlying attributable profit of $13.7 billion and a return on capital employed of 27% [10] - Total attributable profit was $7.9 billion after net exceptional charges of $5.8 billion, including a $2.7 billion non-cash impairment of Western Australia Nickel Business and a $3.8 billion charge for the Samarco dam failure [11] - Net operating cash flow exceeded $20 billion, enabling $9.3 billion in business investments, a 31% increase from the previous year, and reducing net debt to $9.1 billion [11] - Full-year dividend is $1.46 per share, with total dividends for the year reaching $7.4 billion [4] Business Line Performance - Record production at Western Australia Iron Ore, Spence, and Carrapateena, with copper production growing by 9% for the second consecutive year [4] - Copper production reached its highest level in over 15 years, with Escondida achieving its best production outcome in four years and Spence having another record year [13] - Iron Ore delivered record production volumes with an EBITDA margin of 68%, maintaining the lowest cost iron ore producer globally with C1 costs of $15.84 per ton [13] - Western Australia Nickel operations were temporarily suspended due to tough market conditions, with plans to restart if market conditions improve [6] Market Performance - Copper South Australia saw successful integration of OZ Minerals assets, unlocking significant synergies and delivering operational records [13] - In Chile, projects at Escondida and Spence are progressing well, with potential to add around 200,000 tons per year of incremental copper production [28] - The Jansen potash project is ahead of schedule, with first production forecast for late 2026, and Stage 2 is in execution [5] Strategic Direction and Industry Competition - The company's strategy focuses on operational excellence, creating social value, and shaping the portfolio for future growth, particularly in commodities benefiting from megatrends like urbanization and energy transition [2][3] - BHP is investing in future-facing commodities, with plans to spend around $10 billion in the 2025 financial year, primarily on growth and improvement projects [17] - The company is well-positioned in copper, with a pathway to over 2 million tons per year of copper production, and is expanding its portfolio through joint ventures like the one with Lundin Mining in Argentina [24][29] Management Commentary on Operating Environment and Future Outlook - Global economic growth is expected to be slightly above 3% for 2024 and 2025, with China's uneven recovery and India's continued growth as key factors [19] - The company anticipates continued strong demand for its products, driven by population growth, urbanization, and decarbonization infrastructure, but expects some price volatility due to supply growth [20] - Long-term demand for copper and potash is projected to grow by around 70% by 2050, with BHP well-positioned to benefit from its leading resource positions and growth options [21][22] Other Important Information - The company made significant progress on social value goals, including a 32% reduction in operational greenhouse gas emissions from the 2020 baseline and increasing female employee participation to over 37% [7][8] - BHP increased spending with small, local, and indigenous businesses to $3.3 billion, including over $600 million with indigenous businesses, an 83% increase from the previous year [9] Q&A Session Summary Question: How does BHP balance free cash flow generation and investment in South Australia Copper? [38] - The company focuses on stable operational performance to justify growth investments, with $600 million in synergies already captured from the OZ Minerals acquisition, faster than anticipated [39] - Returns escalate quickly with scale, and investments will be made if they stack up well under the capital allocation framework [40] Question: What are the expected returns for the Filo and Josemaria projects? [41] - The Filo opportunity represents a significant new copper basin, and the company is working with Lundin Mining to determine the optimal development pathway [41] - The capital allocation framework ensures projects compete based on returns, with flexibility to phase and sequence projects based on market dynamics [42] Question: What is driving the increase in CapEx to $11 billion in FY '26? [45] - Higher growth projects in copper, increased spending on potash, and fleet replacement across major assets are the primary drivers of the increased CapEx [46] Question: How does BHP view the iron ore market and its expansion to 330 million tons? [47] - The company is creating the option to expand to 330 million tons, with decisions based on market conditions and economic returns under the capital allocation framework [48][49] Question: What are the plans for copper expansion at Spence and Cerro Colorado? [50] - The company is focusing on stabilizing operations at Spence and exploring further leaching options to sustain production, with potential to extend the life of leaching operations [51][52] Question: How does BHP manage capital allocation and shareholder returns with higher CapEx and potential acquisitions? [53] - The company maintains a rigorous capital allocation framework, balancing growth investments with shareholder returns, and has flexibility within its net debt range to fund value-accretive projects [54][55] Question: What is the outlook for iron ore prices and BHP's position in the market? [59] - BHP expects the iron ore market to face increasing competition, but its low-cost position and high-quality product suite provide resilience, with significant high-cost production still in the market [60][96] Question: How does BHP plan to execute multiple growth projects across different regions? [90] - The company has a strong track record of project execution and will sequence projects to optimize returns under the capital allocation framework, while managing within its financial envelope [91][92] Question: What is the impact of industrial relations and tax changes on project returns in Australia versus offshore? [108] - BHP evaluates project returns based on relative risk and competitiveness, with recent policy changes in Australia creating some drag on competitiveness, but the company remains focused on global competitiveness [109][110]

Company Participants Mike Henry - CEO David Lamont - CFO Mike Henry Operationally, in the December 2023 half, we delivered a 7% increase in copper production. We maintained strong momentum at Western Australia Iron Ore and we remain on track to meet our original full year production and unit cost guidance across all bar one of our assets. We progressed important portfolio changes in line with our strategy, including, successfully integrating our new copper asset in South Australia. Sanctioning additional in ...

Exchange release 4 September 2023 Court Ratifies Samarco's Judicial Reorganisation Plan The court's ratification of Samarco's Judicial Reorganisation Plan follows support of the plan by a majority of Samarco's financial creditors in July 2023 as required under Brazilian bankruptcy law. BHP provided an update to the Group's provision for the Samarco dam failure in its 2023 Annual Report and BHP considered the funding cap along with Samarco's long-term forecast cash flows, when determining the Samarco Fundão ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 001-09526 BHP GROUP LIMITED (ABN 49 004 028 077) (Exact name of registrant as specified in its charter) VICTORIA, AUSTRALIA (Jurisdiction of incorporation or organisation) 171 COLLINS STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA (Address of pr ...

BHP Group Limited (NYSE:BHP) Q4 2023 Earnings Conference Call August 21, 2023 1:30 AM ET Company Participants Mike Henry - Chief Executive Officer David Lamont - Chief Financial Officer Conference Call Participants Mike Henry Hello, and thank you for joining us to hear about BHP's results for the 2023 financial year. I'm joined today by our Chief Financial Officer, David Lamont. This year, our results have again proven that our focused strategy creates lasting value through the cycle. But before we talk abo ...

Release Time IMMEDIATE Release Number 04/23 BMO METALS, MINING & CRITICAL MINERALS CONFERENCE A copy of the presentation slides is attached. Date 27 February 2023 NEWS RELEASE BHP CEO, Mike Henry, will present at the BMO Metals, Mining & Critical Minerals Conference at 8:00am US Eastern time on Monday 27 February 2023. The presentation slides and a transcript of Mike's speech will be available on BHP's website shortly after the presentation at: https://www.bhp.com/investors/presentations-events Media Relati ...

BHP Group Limited (NYSE:BHP) Q2 2023 Earnings Conference Call February 20, 2023 6:30 PM ET Company Participants Mike Henry - CEO David Lamont - CFO Conference Call Participants Operator Hello and thank you for joining us to hear about BHP’s results for the December 2022 Half Year. I’m joined by our Chief Financial Officer, David Lamont. I want to start by acknowledging the tragic loss of life of one of our team members, Jody Byrne, in our rail operations at Port Hedland, the week before last. My deepest sy ...

• The Board has determined to pay an interim dividend of 90 US cents per share (or US$4.6 billion), equivalent to a 69% payout ratio. This release covers functions and assets (including those under exploration, projects in development or execution phases, sites and closed operations) that have been wholly owned and/or operated by BHP or that have been owned as a joint venture 1 operated by BHP (referred to in this release as 'operated assets' or 'operations') during the period from 1 July 2022 to 31 Decembe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 October 19, 2022 BHP GROUP LIMITED (ABN 49 004 028 077) (Exact name of Registrant as specified in its charter) VICTORIA, AUSTRALIA (Jurisdiction of incorporation or organisation) 171 COLLINS STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA (Address of principal executive offices) Indicate by check mark whether the registrant f ...

BHP Annual Report 2022 Bringing people and resources together to build a better world Contents 89–124 Governance | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|----------------------------------|-------|-------|----------------------------------|-------|-------|--------------------------------|-------| | | | | 4.3 | Financial results | 19 | 7.14 | Social investment | 58 | | | 02–05 | | 4.4 | Debt and sources of liquidity 21 | | 7.15 | Environment | 59 | | | Overview | | 5 | Our assets | 23 ...