Hermosa Project Update Presentation

17 January 2022

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

HERMOSA PROJECT UPDATE PRESENTATION

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) is pleased to advise that the following presentation has today been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

· South32 Limited - Hermosa Project Update Presentation

South32 held a conference call at 11.00am Australian Western Standard Time (2.00pm Australian Eastern Daylight Time) to discuss the presentation materials. The conference call recording is available on the South32 website (https://www.south32.net/investors-media/investor-centre/presentations-reports-speeches).

About South32

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 bauxite, alumina, aluminium, metallurgical coal, manganese, nickel, silver, lead and zinc at 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.

Further information on South32 can be found at www.south32.net.

JSE Sponsor: UBS South Africa (Pty) Ltd

17 January 2022