• Maintained production guidance for all operations except Mozal Aluminium due to civil unrest in Mozambique
• Increased alumina production by 14% and aluminium production by 5% in the December 2024 half year
• Commenced shaft sinking at Hermosa's Taylor zinc-lead-silver project and continued development of the Clark battery-grade manganese deposit

South32 Chief Executive Officer, Graham Kerr, stated that the company continued its strong start to the year, maintaining production guidance for all of its operations except Mozal Aluminium, as it continues to mitigate the impact of civil unrest in Mozambique. The company achieved strong results in the December 2024 quarter, delivering higher base metals production and increasing alumina production by 14 percent, capturing the benefit of strong alumina prices. South32 returned US$169M to shareholders, paying fully-franked ordinary dividends in respect of the prior six months and continuing its on-market share buy-back. The company has a strong balance sheet and platform for growth in minerals and metals critical to the world's energy transition. Construction of the zinc-lead-silver Taylor deposit at Hermosa reached a significant milestone as the company commenced shaft sinking in the quarter. South32 also progressed development of an exploration decline at the Clark battery-grade manganese deposit and exploration drilling at the Peake copper deposit to unlock further value across its broader land package. The company continued to strengthen its growth pipeline, embedding additional copper exploration options in highly prospective regions during the period.

South32 maintained FY25 production guidance for all operations, except Mozal Aluminium, where guidance was withdrawn in December 2024 due to civil unrest in Mozambique. The company expects its H1 FY25 Group Underlying effective tax rate to be around 35%.