BHP Group Limited
BHP Group Limited ABN 49 004 028 077
Registered in Australia
Registered Office: Level 18, 171 Collins Street Melbourne VIC 3000
Share code: BHG
ISIN: AU000000BHP4



Release Time         IMMEDIATE
Date                 2 May 2023
Release Number       09/23

                             COMPLETION OF OZ MINERALS ACQUISITION

BHP announces the completion of the OZ Minerals acquisition and implementation of the scheme of
arrangement for BHP Lonsdale Investments Pty Limited, a wholly owned subsidiary of BHP Group
Limited, to acquire 100% of the shares in OZ Minerals Limited (OZL) (the Scheme). BHP Group
Limited is now the ultimate parent company of OZL.

BHP CEO Mike Henry said:

“This acquisition strengthens BHP’s portfolio in copper and nickel and is in line with our strategy to
meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar
panels to support the energy transition. Combining our two organisations will provide options for
growth, bring new talent and innovation to unlock these resources in a sustainable way, and deliver
value to shareholders and communities.”

In bringing together the BHP and OZ Minerals businesses, BHP will focus on safe and reliable
operation of the Olympic Dam, Prominent Hill and Carrapateena assets, building a shared culture of
innovation and performance, and progressing sustainable growth options to establish a copper
province in South Australia.

BHP Chief Operating Officer Edgar Basto said:

“We welcome the OZ Minerals team to BHP as new colleagues with shared values of safety, respect,
innovation and performance. Bringing together our quality resources, talented teams and innovative
thinking will help us create opportunities for local employment, small businesses, regional
communities, Traditional Owners and the South Australian economy.

“South Australia has the potential to be a major supplier of copper to meet the world’s increasing
demand for copper and we look forward to unlocking the potential of our people and their combined
talent. This will require new thinking and new technology and we are excited to begin work on the
opportunities ahead.”

OZL shareholders today received total cash consideration of A$28.25 per OZL share, comprising:

      the scheme consideration paid by BHP of A$26.50 for each OZL share held at the scheme
       record date, which is 7:00pm on 24 April 2023; and
      a fully franked special dividend paid by OZL of A$1.75 for each OZL share held on the special
       dividend record date, which is 7:00pm on 21 April 2023.
The cash payment by BHP has been funded using a combination of BHP’s existing cash reserves and
the proceeds of a debt facility.

OZL has today applied to be removed from the official list of the ASX. Removal is expected to occur no
later than 3 May 2023.
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

Media Relations                                             Investor Relations

Email: media.relations@bhp.com                              Email: investor.relations@bhp.com


Australia and Asia                                          Australia and Asia

Gabrielle Notley                                            John-Paul Santamaria
Tel: +61 3 9609 3830                                        Mobile: +61 499 006 018
Mobile: +61 411 071 715

Europe, Middle East and Africa                              Europe, Middle East and Africa

Neil Burrows                                                James Bell
Tel: +44 20 7802 7484                                       Tel: +44 2078 027 144
Mobile: +44 7786 661 683                                    Mobile: +44 7961 636 432

Americas                                                    Americas

Renata Fernandaz                                            Monica Nettleton
Mobile: +56 9 8229 5357                                     Mobile: +1 (416) 518-6293




BHP Group Limited ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Registered Office: Level 18, 171 Collins Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015

BHP Group is headquartered in Australia
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Disclaimer and important notice


Forward-looking statements
This announcement may contain forward-looking statements, including statements regarding the Scheme and
related transactions, such as the expected timing and benefits. Words such as ‘anticipate’, ‘believe’, ‘aim’,
‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other
similar words or expressions identify forward-looking statements. Forward-looking statements are based on
assumptions and contingencies that are subject to change without notice and involve known and unknown risks,
uncertainties and other factors, including those associated with the industries in which BHP and OZL operate.
Many of these risks are beyond the control of BHP and its related bodies corporate and affiliates, and each of their
respective directors, officers, employees, partners, consultants, contractors, agents, advisers and representatives.
It is believed that the expectations reflected in forward-looking statements are reasonable, but they may be affected
by a range of variables which could cause results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by those forward-looking statements
or any projections or assumptions on which those statements are based.


Factors that could cause actual results or performance to differ materially from those expressed or implied in the
forward-looking statements include, but are not limited to: price fluctuations, actual demand, currency fluctuations,
geotechnical factors, drilling and production results, development progress, operating results, engineering
estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative,
fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and
cost estimates. Except as required by applicable regulations or law, BHP assumes no obligation, and does not
undertake, to update any forward-looking statements or information regularly in part or whole.


Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of
the current economic climate. Forward-looking statements are provided as a general guide only and should not be
relied on as an indication or guarantee of future performance. These statements may assume the success of the
Scheme, OZL’s operations or BHP’s business strategies, the success of which may not be realised within the
period for which the forward-looking statements may have been prepared, or at all. No guarantee, representation
or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any
forecasts, prospects, returns, statements or tax treatment in relation to future matters contained in this
announcement. To the maximum extent permitted by law, none of BHP, its directors, employees, agents or
advisers, nor any other person accepts any liability for any loss arising from the use of this announcement or its
contents or otherwise arising in connection with it.


Limitation of information in relation to OZL
All information in this announcement in relation to OZL has been sourced from publicly available information in
respect of OZL. BHP has conducted due diligence in relation to the Scheme, but has not independently verified
such information and, to the maximum extent permitted by law, makes no representation or warranty, expressed
or implied, as to the fairness, accuracy, correctness, completeness or adequacy of any information relating to OZL.
Receipt of additional or updated information may change any forward-looking statements concerning OZL in this
announcement. OZL may have a different interpretation of the underlying data and release other information to the
market.