Enhanced Investments - Financial Portal

Financial Results for the Half Year Ended 31 December 2022

Published: 2023-02-16 09:02:19 ET

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.net


                    FINANCIAL RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2022
                                      Short Form Announcement

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) announces its financial results for the half year
ended 31 December 2022.

This statement includes the consolidated results of the South32 Group for the half year ended 31 December
2022 compared with the half year ended 31 December 2021.

Key Financials

                                                      Half year ended          Half year ended
US$M                                               31 December 2022         31 December 2021         Change (%)
Revenue                                                          3,696                       4,006         (8%)
Ordinary dividend per share (US cents)                                4.9                      8.7       (44%)
Special dividend per share (US cents)                                   -                        -            -

In accordance with the JSE Listing Requirements, Headline Earnings is presented below.

US$M                                                      H1 FY23               H1 FY22              Change (%)
Profit/(loss) attributable to ordinary equity                  685                1,032                   (34%)
holders of South32 Limited
Adjusted for
Net (gain)/loss from the disposal and write-                  (138)                      -
off of property, plant and equipment and
intangibles
Net impairment (reversal)/loss                                  (4)                  37
Total tax expense/(benefit) on the above                        41                   (9)
items
Headline Earnings                                              584                1,060                   (45%)
Diluted Headline Earnings                                      584                1,060                   (45%)
Earnings per share denominator (millions)                     4,596               4,657                    (1%)
Diluted earnings per share denominator                        4,626               4,681                    (1%)
(millions)
Headline Earnings per share
Headline Earnings per share (US cents)                         12.7                 22.8                  (44%)
Diluted Headline Earnings per share (US                        12.6                 22.6                  (44%)
cents)
2023 Interim Dividend

The Board has resolved to pay an interim dividend of US 4.9 cents per share (fully franked) for the half year
ended 31 December 2022.

The record date for determining entitlements to dividends is 10 March 2023; payment date is 6 April 2023.


Dividends announced                         Dividend per share
Period                                              (US cents)         US$M         Franking     Pay-out ratio
H1 FY21                                                     1.4            67           100%                49%
H2 FY21                                                     3.5           164           100%                46%
August 2021 special dividend                                2.0            93           100%                N/A
H1 FY22                                                     8.7           405           100%                40%
H2 FY22                                                    14.0           648           100%                41%
August 2022 special dividend                                3.0           139           100%                N/A
H1 FY23                                                     4.9           224           100%                40%


South32 Limited shareholders registered on the South African branch register will not be able to dematerialise
or rematerialise their shareholdings between 8 and 10 March 2023 (both dates inclusive), nor will transfers
to/from the South African branch register be permitted between 2 and 10 March 2023 (both dates inclusive).

Details of the current exchange rates applicable for the dividend will be announced to the relevant stock
exchanges. Further dividend information is available on our website (www.south32.net).

South32 American Depositary Receipts (ADRs) each represent five fully paid ordinary shares in South32 and ADR
holders will receive dividends accordingly, subject to the terms of the Depositary Agreement.

Dividends timetable                                                                               Date
Announce currency conversion into South African rand by 11h00                                     3 March 2023
Last day to trade cum dividend on the Johannesburg Stock Exchange (JSE)                           7 March 2023
Ex-dividend date on the JSE                                                                       8 March 2023
Ex-dividend date on the Australian Stock Exchange (ASX) and London Stock Exchange
                                                                                                  9 March 2023
(LSE)
Record date (including currency election date for ASX)                                           10 March 2023
Payment date                                                                                        6 April 2023



Short Form Announcement

This short form announcement is the responsibility of the directors and represents a summary of the information
in the full announcement and does not contain full or complete details. Any investment decision by investors
and/or shareholders should be based on consideration of the full announcement.

The full announcement has been released on the JSE at:
https://senspdf.jse.co.za/documents/2023/JSE/ISSE/S32/HY23.pdf. It is also accessible on the Company’s
website at www.south32.net. Copies of the full announcement may be requested, at no charge, by contacting
Investor Relations at InvestorRelations@south32.net or the Company’s JSE sponsor, Standard Bank at
jsesponsor@standardbank.co.za


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, silver, lead, zinc, nickel, metallurgical coal and manganese from 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.


  Investor Relations
  Ben Baker
  T     +61 8 9324 9363
  M     +61 403 763 086
  E     Ben.Baker@south32.net



  Media Relations
  Jamie Macdonald                                                     Miles Godfrey
  T     +61 8 9324 9000                                               T      +61 8 9324 9000
  M     +61 408 925 140                                               M      +61 415 325 906
  E     Jamie.Macdonald@south32.net                                   E      Miles.Godfrey@south32.net



Further information on South32 can be found at www.south32.net.

Approved for release by Graham Kerr, Chief Executive Officer
JSE Sponsor: The Standard Bank of South Africa Limited
16 February 2023

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.