South32 Limited
(Incorporated in Australia under the Corporations Act 2001 (Cth))
(ACN 093 732 597)
ASX / LSE / JSE Share Code: S32; ADR: SOUHY
ISIN: AU000000S320
south32.net


                                              CURRENCY CONVERSION TO RAND

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUY) (South32) announced on 25 August 2022 that the Board resolved to pay a final
dividend of US 14.0 cents per share (fully franked) for the full year ended 30 June 2022 and a special dividend of US 3.0 cents per
share (fully franked) (together referred to herein as the ‘dividends’). The payment date for the dividends is 13 October 2022. The US
cent currency exchange rate applicable to the dividend payable in South African cents, to shareholders on the South African branch
register on the Record Date, is:


                                                            Gross dividends per ordinary        Net dividends per ordinary
               Dividend              Exchange rate
                                                            share in South African Cents       share in South African Cents

            Final dividend                                            241.91510                         193.53208
                                        17.27965
           Special dividend                                            51.83895                          41.47116



The currency exchange rate is the volume weighted average price achieved on foreign exchange trades executed over the period 5
September 2022 to 9 September 2022.

The exchange rate applicable to the South32 dividend being paid in other currencies will be determined over the period 5 September
2022 to 21 September 2022. Details of the currency exchange rates applicable for the dividend will be announced to the relevant
stock exchanges.

South32 shareholders registered on the South African branch register will not be able to dematerialise or rematerialise their
shareholdings between 14 September 2022 and 16 September 2022 (both dates inclusive), nor will transfers to or from the South
African branch register be permitted between 9 September 2022 and 16 September 2022 (both dates inclusive).

1. South African dividend tax of 58.75081 South African cents per ordinary share will be withheld from the amount of the gross final
   dividend of 293.75405 South African cents per ordinary share paid to shareholders on the South African branch register at the
   rate of 20% unless a shareholder qualifies for an exemption.

2. After the South African dividend tax has been withheld, the net dividends will be 235.00324 South African cents per ordinary
   share.

3. Australia is the country of source of income, the dividend is regarded as 'foreign' for the purposes of South African dividends tax.

4. South32 had a total of 4,628,431,584 ordinary shares on issue at the dividends’ determination date of 25 August 2022.

5. The dividends will be paid out of retained earnings.

6. For the avoidance of doubt, South African dividend tax, and therefore the information provided in this announcement, is of only
   direct application to shareholders on the South African branch register.

7. South African Reserve Bank (SARB) approval in respect of the special dividend has been obtained.



Registered Office Level 35 108 St Georges Terrace Perth WA 6000 Australia
ABN 84 093 732 597 Registered in Australia
Shareholders on the South African branch register should direct any questions regarding the application of the South African dividend
tax to Computershare Investor Services online at www.computershare.com/za or by calling +27 (0) 86 110 0950.

Holders of shares dematerialised into STRATE should contact their Central Security Depository Participant (CSDP) or stockbroker.

For further dividend information, contact Computershare on smart number 0861 100 950 or visit our website (www.south32.net).

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.

Dividend timetable
Announce currency conversion into Rand                                                               12 September 2022
Last day to trade cum dividend on the Johannesburg Stock Exchange (JSE)                              13 September 2022
Ex-dividend date on the JSE                                                                          14 September 2022
Ex-dividend date on the ASX and London Stock Exchange (LSE)                                          15 September 2022
Record date (including currency election date for ASX)                                               16 September 2022
Payment date                                                                                         13 October 2022




  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.

JSE Sponsor: The Standard Bank of South Africa Limited
12 September 2022




  CURRENCY CONVERSION TO RAND