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Caroline Cox, Chief Legal, Governance and External Affairs Officer

I start by acknowledging the traditional custodians of the land I'm on today, the Wurundjeri people of the Kulin Nation, and acknowledge that across the world, our operations are on or near the custodial lands of First Nations people.

I pay my respects to their Elders, past and present, and extend that respect to any First Nations people joining us today.

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Three years ago, we introduced to the market the initial details of our commitment to social value.

Today I'll update you on our progress in embedding that commitment into our thinking, planning and performance; and share with you important new initiatives that further sharpen our focus, and provide transparency on our goals and outcomes.

There are three key developments I will cover:

1. the first, is our new social value framework which sets out 6 social value priorities based on where we can have the most impact, and what will deliver business and shareholder value;
2. second, I will take you through our first ever social value scorecard which includes 2030 goals, metrics and milestones, which we will report against annually; and
3. finally, I'll update you on how we are integrating social value into everything we do at BHP.

I believe strongly in the criticality of this work.

I grew up in small town Alberta, Canada, and experienced first-hand the very real impact that corporates can have on the landscape, and people's lives. I saw that again a couple of weeks ago when I was back in Canada visiting our Jansen project in Saskatchewan, and spent time with community members, suppliers and government.

These engagements reinforced my experience and belief that listening and working in partnership can produce outcomes that benefit people, the planet, and our business. While I was there, the Premier of Saskatchewan, Scott Moe, reflected on the Jansen project.

He said, 'BHP's presence means opportunity - opportunity that will ripple through the province for generations to come'.

All driven by a spirit of genuine partnership, not transactional interactions.

This lies at the heart of what we're here to talk about today, and reflects our move from social licence to social value.

It's about running our business in a way that delivers long term, sustainable value and opportunity; for BHP, our shareholders, and the broader community.

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Purpose

Social value starts with our Purpose: to bring people and resources together to build a better world.

The commodities we produce are essential to everyday life.

From infrastructure that connects us globally, to providing the fundamental ingredients for renewable energy and decarbonisation, and food security.

Beyond supporting these critical global needs, we provide significant economic contribution to the communities and countries where we operate.

In FY21, we contributed more than 40 billion US dollars in wages, taxes, royalties, dividends, and payments to suppliers.

The benefits derived from BHP's commodities, and how we produce them are the cornerstone of our Purpose, and social value.

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