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    S32   AU000000S320

SOUTH32 LIMITED

(S32)
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South32 : Tax Transparency and Payments to Governments Report 2022

09/08/2022 | 10:40pm EST

TAX TRANSPARENCY AND PAYMENTS TO GOVERNMENTS REPORT 2022

About this report

Contents

Tax Transparency and Payments to Governments Report 2022

This report is about our approach to payments of taxes and contributions to governments where we operate.

Our 2022 Annual Reporting Suite

You can view all the documents in our Annual Reporting Suite at www.south32.net, including:

ANNUAL

SUSTAINABLE

SUSTAINABILITY

REPORT

DEVELOPMENT

DATABOOK

2022

REPORT 2022

2022

Annual Report

Sustainable

Sustainability

Development Report

Databook

CORPORATE

MODERN

GOVERNANCE

SLAVERY

STATEMENT

STATEMENT

2022

2022

Corporate Governance

Modern Slavery

Statement

Statement

About us

1

Our portfolio

2

Our strategy

4

Introduction

5

Our approach to tax

6

Total payments made by country and level of government

8

Total payments to government by project

10

Our underlying tax expense and underlying effective tax rate

11

Our income tax expense and effective tax rate

12

Our income tax payable and deferred tax movements

13

2022 country by country information

14

International related party dealings

15

Our equity accounted investments

17

Mineral development contracts

21

EITI expectations 2022 and GRI 207 compliance

22

Basis of preparation for the year ended 30 June 2022

23

Glossary of terms

24

Independent auditor's report

25

Non-IFRS

This report includes certain non-IFRS financial measures, including underlying measures of earnings, effective tax rate, returns on invested capital, cash flow and net debt, Non-IFRS measures should not be considered as alternatives of an IFRS measure of profitability, financial performance or liquidity.

For an explanation of how South32 uses non-IFRS measures, see page 36 of the Annual Report.

For information or to contact South32, visit www.south32.net

Cover: Engineers at our Cannington operation in Australia..

Below: Anindilyakwa people on Groote Eylandt in Australia's Northern Territory.

ACKNOWLEDGEMENT

We acknowledge and pay our respects to the Indigenous, Traditional and Tribal Peoples of the lands, waters and territories on which South32 is located and where we conduct our business around the world.

We respect and acknowledge the unique cultural and spiritual relationships that Indigenous, Traditional and Tribal Peoples have to the lands, waters and territories, and their rich contribution to society.

In the spirit of respect and reconciliation, we will continue to support initiatives that strengthen culture and ways of life so that their legacy continues and extends to future generations.

About us

SOUTH32 IS A GLOBALLY DIVERSIFIED MINING AND METALS COMPANY

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.

Making a difference

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.

Learn more about how we improve people's lives in our Annual Report at www.south32.net

Optimise | Unlock | Identify

Our purpose is underpinned by a simple strategy which is focused on optimising the performance of our operations, unlocking their potential and identifying new opportunities to create value for all of our stakeholders.

Learn more about our strategy in our Annual Report at www.south32.net

Care | Trust | Togetherness | Excellence

While our strategy outlines what we do to achieve our purpose, our values of care, trust, togetherness and excellence guide how we do it. Every day, our values shape the way we behave and the standards we set for ourselves and others.

Learn more about our people in our Sustainable Development Report at www.south32.net

SOUTH32 TAX TRANSPARENCY AND PAYMENTS TO GOVERNMENTS REPORT 2022

1

Our portfolio

  1. DIVERSIFIED PORTFOLIO WITH A BIAS TO BASE METALS

AMBLER METALS

Copper, Lead, Gold, Silver and Zinc

Operated interest/share

Non-operated interest/share

VANCOUVER

Development option

Exploration program

Office

FY22 Key Commodity Underlying EBITDA

HERMOSA

US$4.9b(a)

Zinc, Lead, Silver and Manganese

12%

By Commodity

CERROMATOSO

Aluminium value chain

35%

Nickel

Copper

BRAZIL ALUMINA

31%

Base and precious metals

Bauxite

3%

Metallurgicalcoal

Manganese ore

19%

BRAZIL ALUMINA

Alumina

17%

SIERRA GORDA

By Geography

Copper, Molybdenum and Gold

Australia

22%

61%

Africa

Americas

BRAZIL ALUMINIUM

Aluminium

See Segment Reporting in Note 4 to the financial statements in our Annual Report at www.south32.net for more information

  1. Presented on a proportional consolidation basis and excludes manganese alloys (-US$21 million), the Brazil Aluminium smelter (-US$43 million), Hermosa (-US$12 million), and Group and unallocated costs (-US$69 million).

2 SOUTH32 TAX TRANSPARENCY AND PAYMENTS TO GOVERNMENTS REPORT 2022

LONDON

JOHANNESBURG

SOUTH AFRICA

MANGANESE

Manganese ore

SINGAPORE

CANNINGTON

Silver, Lead and Zinc

AUSTRALIA MANGANESE

Manganese ore

MOZAL

ALUMINIUM

Aluminium

PERTH HEAD OFFICE

HILLSIDE ALUMINIUM

WORSLEY ALUMINA

Alumina

Aluminium

ILLAWARRA

METALLURGICAL COAL

Metallurgical coal

SOUTH32 TAX TRANSPARENCY AND PAYMENTS TO GOVERNMENTS REPORT 2022

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

South32 Ltd. published this content on 09 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2022 02:39:02 UTC.


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Sales 2023 9 019 M - -
Net income 2023 1 748 M - -
Net cash 2023 700 M - -
P/E ratio 2023 7,56x
Yield 2023 4,85%
Capitalization 12 968 M 12 968 M -
EV / Sales 2023 1,36x
EV / Sales 2024 1,34x
Nbr of Employees 9 096
Free-Float 98,3%
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Graham Kerr Chief Executive Officer, Executive Director & MD
Katie Tovich Chief Financial Officer
Karen J. Wood Chairman
Vanessa Torres Chief Technical Officer
Jason Economidis Co-Chief Operating Officer
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