BHP Billiton Limited. IBISWorld Company Report Premium Report. Balance Date: 30 June 2013

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1 CONTENTS Error! No text of specified style in document. Premium Report IBISWorld Company Report BHP Billiton Limited Premium Report Balance Date: 30 June 2013 Details... 2 Introduction... 2 History/Background... 3 Brands/Businesses/Products... 5 Company Snapshot... 6 Personnel... 7 Other Directorships... 8 Financials... 9 Financial Financial Ratios Industry Financial Averages Segments Operating Divisions Geographic Locations Competitive Environment Shareholders Subsidiaries Service Providers info@ibisworld.com

2 BHP Billiton Limited 2 Details Company Details Major Business Line B08 - Metal Ore Mining in Australia ACN Number ABN Number ASX Code BHP Incorporated In Victoria Incorporation Date 13/08/1885 Company Type Public Company Ownership Type Local Sector Non Government Listed on Stock Exchange? Yes FY Balance Date 30-Jun-2013 IBISWorld Rank* 1 Company Contact Details Company Registered Name Commonly Used Name BHP Billiton Limited BHP Billiton Street Address Floor Level 16 Street 171 Collins Street City MELBOURNE State Victoria Post Code 3000 Country Australia Postal Address PO Box GPO Box 86A Post Office City MELBOURNE State Victoria Post Code 3001 Telephone Number Facsimilie Number Internet Web Address Introduction BHP Billiton Limited is a locally-owned public listed company that generates its revenue from minerals exploration, development, production and processing; and oil and gas exploration, development and processing. The group employs about 49,000 people in its operations across 26 countries, and is administered from BHP Billiton group headquarters in Melbourne.

3 BHP Billiton Limited 3 Following a 2001 merger with British miner Billiton plc, the company is part of the dual-listed BHP Billiton group, but maintains its pre-merger listing on the Australian Securities Exchange under the code BHP. Securities in BHP Billiton are also traded on the London, Johannesburg and New York Stock Exchanges. History/Background April: BHP announced the sale of its Pinto Valley mining operation and associated San Manuel Arizona Railroad Company(SMARRCO) to Capstone Mining Corp. for US$650 million. BHP completed the sale of the EKATI Diamond Mine (Canada) and Diamonds Marketing operations to Dominion Diamond Corporation for US$553 million September: BHP sold its 37% interest in Richards Bay Minerals to Rio Tinto for US$1.91 billion. August: The company sold the Yeelirrie Uranium Deposit in Western Australia to Cameco Corporation for US$430 million December: BHP announced plans to sell its 51% holdings in the Chidliak project to Peregrine Diamonds Ltd. The transaction is to be finalised by 31 January September: BHP s $705 million acquisition of HWE Iron Ore in Western Australia is finalised. August: BHP acquired Petrohawk Energy Corporation for US$15 billion. July: BHP entered into an agreement for the acquisition of Petrohawk, a US-based oil company, for $11.2 billion. BHP also announced it was expanding its Northern Territory manganese operations with a $254.2 million investment in the facility. The investment will allow output to increase to 4.8 million tonnes per annum. May: BHP announced it was spending approximately $260 million to extend its Ekati diamond mine, located in Canada's Northwest Territories. April: BHP and its joint venture partner, Vale announced a $3.5 billion expansion of the Fourth Pellet Plant Project at Samarco, Brazil. February: BHP announced it was acquiring 487,000 acres of natural gas shale in the US state of Arkansas from Chesapeake Energy for US$4.75 billion. The acquisition will give BHP 75% operating stake in the Fayetteville shale gas development November: The Canadian Federal Government's Investment Review Board announced an interim rejection of BHP's bid for Potash Corporation of Saskatchewan Inc. BHP subsequently withdrew its offer for Potash Corp. October: BHP and Rio Tinto announced their proposed Western Australian iron ore production joint venture would not proceed as it had not received all the necessary regulatory approvals. September: BHP approved development of the $1.57 billion Macedon gas field in a joint venture with Apache Northwest. August: BHP announced it had approached Canadian company Potash Corporation of Saskatchewan Inc with a hostile takeover bid of US$39 billion. January: BHP announced it was acquiring all of the shares of Canadian company Athabasca Potash Inc for approximately US$320 million. The transaction was finalised in March December: BHP entered into a 50:50 joint venture agreement with Rio Tinto to combine adjacent mines and management functions, and to share rail and port infrastructure in the companies' Western Australian iron ore operations, creating about US$10 billion in synergies. In the same month, BHP sold its Ravensthorpe Nickel Operation to First Quantum Minerals Australia Pty Ltd for US$340 million. July: BHP passed its 45% interest in the Suriname bauxite and alumina joint venture to Suralco, who held the existing 55% June: BHP established a joint venture to develop nickel laterite resources in Eastern Indonesia with Indonesian miner PT Antam Tbk May: The company sold its interest in the NSW Elouera Colliery to Gujarat NRE Resources NL.

4 BHP Billiton Limited 4 March: BHP Billiton combined its energy and metallurgical coal businesses into the Carbon Steel Materials group November: Operations in the Gulf of Mexico were expanded with the purchase of a 44% stake in the Genghis Khan oil & gas field for US$594 million. May: BHP sold its Peruvian copper mine, Tintaya, to British miner Xstrata plc for US$750 million August: BHP obtained control of WMC Resources Limited, an Australian nickel and copper producer and owner of the Olympic Dam uranium mine in South Australia for US$7.2 billion October: BHP sold Integris Metals, its 50:50 joint venture project with Alcoa, for US$660 million. March: The company entered Wheelarra joint venture with four Chinese steel mills, securing ore sales of around 12 million tonnes per annum, expected to generate US$9 billion over 25 years December: the group sold the Robinson copper mine in Nevada, USA, and its 33% interest in the Highland Valley copper mine to Canadian miner Quadra for US$91 million. November: BHP Billiton and joint venture partner Esso announced a 14-year deal to supply electricity producer, TXU Electricity with gas from their Bass Strait project. March: Canadian miner Wheaton River Minerals bought the company's stake in the Argentinean Alumbrera copper-gold mine for US$180 million The group spun off its 'flat products' steel fabrication division to form BHP Steel, which was listed in June and renamed BlueScope Steel the following year. The group exited from the Ok Tedi copper mine, and sold the PT Arutmin Indonesia coal operations BHP Limited merged with UK-based miner Billiton Plc, forming the world's largest mining company. The two entities retained their pre-merger listings, on the ASX and the London Stock Exchange respectively, but began operating as a combined group under the same board of directors and management team from June BHP's 'long products' steel fabrication business was spun off to form OneSteel Limited, which was listed on the ASX in October The company's Newcastle steel plant was closed Production commenced at the ETAKI diamond mine in Canada The Cannington silver, lead and zinc mine in Queensland commenced production Gas production began at Sierra Chata in Argentina and Goodwyn A on the North West Shelf, offshore Western Australia The company purchased the Tintaya copper mine in Peru Production commenced at the Escondida copper mine in Chile and the Syama gold mine in Mali, Western Africa Mining commenced at Ok Tedi, a gold and copper deposit in remote Papua New Guinea. The company purchased US iron and copper miner Utah International Inc, including control of the Escondida copper mine in Chile. BHP began developing on the North West Shelf for LNG extraction Ill-fated corporate raider Bell Resources made the first of its four unsuccessful attempts to take over the company. 1970s - BHP expanded its coal mining, metal extraction and steel manufacturing activities in Australia, and acquired a number of overseas operations, including a wire rope plant in Malaysia. In 1979, production commenced at the Kelapa Kampit tin mine in Indonesia Through petroleum exploration conducted jointly with US company Esso, oil was discovered in Bass Strait, south of Victoria The company built a blast furnace and shipbuilding yards at Whyalla, South Australia Between the wars, BHP purchased coal mines, established a shipping fleet, and identified reserves of iron ore and limestone. The company also invested in finished metal products manufacturing, acquiring Australian Iron & Steel, owner of a steelworks in Port Kembla, NSW. The purchase of Australian Iron & Steel also included a cement works in Portland, Victoria BHP began making steel, following the establishment of a steelworks in Newcastle, NSW.

5 BHP Billiton Limited BHP signed the lease on an iron ore mine at Iron Knob, South Australia The company was incorporated as Broken Hill Proprietary Company, initially to operate a silver, lead and zinc mine in Broken Hill, NSW. Brands/Businesses/Products BHP Billiton is a diversified resources company which extracts, processes and markets metals, minerals, coal, iron ore and petroleum products to global markets. The company operates through the following divisions: Aluminium This division mines alumina and bauxite, refines aluminium and produces primary aluminium, extrusion billet, rolling slab and wire rod products. The aluminium division has operations in Africa, Australia and South America. Base Metals This segment of the group s operation provides base metal concentrates to smelters, rod mills and casting plants. The four main products from this segment are copper concentrates, copper cathodes, lead concentrates and zinc concentrates. This division has operations in the Americas and Australia. Iron Ore This division explores for and extracts iron ore, and is one of the largest suppliers of the commodity to global markets. The company operates in Brazil through Samarco, a joint venture with Brazilian miner Vale, and in the Pilbara region of Western Australia through a joint venture with Anglo- Australian miner Rio Tinto. Manganese This sector explores for and mines manganese in Australia and South Africa, and produces electrolytic manganese, manganese alloy, ferroalloy and other products. The Manganese division is operated through Samancor Manganese Pty Ltd, in which BHP owns a 60% holding. The assets owned in this sector include Groote Eylandt Mining Company (GEMCO), Tasmanian Electro Metallurgical Company (TEMCO), Wessels, Mamatwan and Metalloys. Energy Coal This division produces and markets thermal coal for use in industrial applications and power generation. BHP has mine operations in Australia, South Africa, North and South America. Metallurgical Coal This division produces and markets hard coking coal for use in the manufacture of steel. BHP supplies global market through their mines in Queensland and New South Wales and interests in Indonesia. The company owns 50% of BHP Billiton Mitsubishi Alliance, 80% of BHP Billiton Mitsui Coal, 75% of IndoMet Coal Project and 100% of Illawarra Coal. Petroleum BHP Billiton Petroleum explores for and extracts petroleum and gas and markets them to more than a dozen of countries around the world. Products from this division include crude oil and condensate, natural gas, LPG and LNG. Some of the projects the group is involved in include projects in Shenzi and Pyrenees. Stainless Steel Materials This division employs about 5,000 staff to explore for, extract and process nickel and cobalt in Western Australia and Colombia. These commodities are used in the manufacture of stainless steel and other alloys, and in the chemicals, foundry and refractory materials industries. Stainless Steel ventures include Nickel West, a wholly owned nickel and cobalt producer, and Cerro Matoso which operates in Central and South America.

6 BHP Billiton Limited 6 Uranium The Company s uranium business is currently comprised of world s largest uranium deposit in Olympic Dam. This division overlooks the mining, processing, smelting and refining of the multimineral ore body to final products. The Olympic Dam produces copper for customers in Europe, Australia and Asia and also gold and silver for the Australian Perth Mint. Company Snapshot BHP Billiton Limited is a Public Company that is ranked number 1 out of the top 2000 companies in Australia. The company generates the majority of its income from the Metal Ore Mining in Australia industry. In 2013 the company generated total revenue of $77,136,090,000 including sales and other revenue. In 2013 BHP Billiton Limited had employees in Australia including employees from all subsidiaries under the company's control. The Chief Executive of BHP Billiton Limited is Dr Andrew Mackenzie whose official title is Chief Executive Officer. The Chairman of BHP Billiton Limited is Mr Jacques Nasser whose official title is Non-Executive Chairman.

7 BHP Billiton Limited 7 Personnel Salutation Initials Full Name Title Position Type Mr J Jacques Nasser Non-Executive Chairman* Chairman Dr A Andrew Mackenzie Chief Executive Officer* Chief Executive Mr G Graham Kerr Chief Financial Officer Financial Controller Mr J Jimmy Wilson President Iron Ore Chief Operating Officer Mr P Peter Beaven President Copper Chief Operating Officer Mr D Dean Dalla Valle President Coal Chief Operating Officer Mr D Daniel Malchuk President Aluminium, Manganese and Nickel Mr T Tim Cutt President Petroleum & Potash Mr M W Malcolm Broomhead Non-Executive Director* Dr J M John Schubert Non-Executive Director* Mr D A David Crawford Non-Executive Director* Mrs C J Carolyn Hewson Non-Executive Director* Mr L P Lindsay Maxsted Non-Executive Director* Mr C Carlos Cordeiro Non-Executive Director* Mr K Keith Rumble Non-Executive Director* Mr W W Wayne Murdy Non-Executive Director* Baroness S Shriti Vadera Non-Executive Director* Sir J G John Buchanan Non-Executive Director* Mr P Pat Davies Non-Executive Director* Chief Operating Officer Chief Operating Officer Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Ms J F Jane McAloon President Governance and Group Company Secretary Company Secretary Ms N Nicole Duncan Joint Company Secretary Company Secretary Ms J F Jane McAloon President Governance Legal Officer Mr G Geoff Healy Chief Legal Counsel Legal Officer Not Available Sales Manager Sales Manager Mr M Mike Henry President HSEC, Marketing & Technology Marketing Manager Ms R Renee Klimczak Chief Procurement Officer Procurement Manager

8 BHP Billiton Limited 8 Mr M Mike Fraser President Human Resources Personnel Manager Mr C Chris Crozier Chief Information Officer Computing/IT Manager Ms K J Karen Wood President Public Affairs Other * Appointed to the Board of Directors Other Directorships Name Company Position Title Mr David Crawford Lend Lease Group Non-Executive Chairman Mrs Carolyn Hewson BT Investment Management Limited Non-Executive Director Mr Lindsay Maxsted Transurban Group Westpac Banking Corporation Non-Executive Chairman Non-Executive Chairman Ms Jane McAloon EnergyAustralia Holdings Limited Non-Executive Director

9 BHP Billiton Limited 9 Financials Balance Date 30-Jun Jun Jun Jun Jun-2009 Accounting Period Date 12 Months 12 Months 12 Months 12 Months 12 Months Currency Units AUD000 AUD000 AUD000 AUD000 AUD000 PROFIT AND LOSS ACCOUNT REVENUE ITEMS Sales Revenue 72,129,411 78,971,908 70,598,350 49,825,473 58,636,406 Other Revenue 5,006,679 1,804, , , ,695 Total Revenue 77,136,090 80,776,018 71,362,011 50,028,369 58,997,101 Cost of Goods Sold 10,538,189 9,374,812 8,018,447 6,012,313 7,271,891 Depreciation 7,593,663 7,006,507 4,958,880 4,491,068 4,520,554 R&D Expenditure 69,978 82,005 72,823 61, ,177 INTEREST Interest Received 84, , , , ,125 Interest Expense 828, , , , ,612 PROFIT AND LOSS Share of Profits of Associates N/A N/A N/A N/A N/A EBITDA 27,879,513 32,527,556 35,820,257 23,036,660 18,369,374 Profit Before Tax 19,541,245 25,172,255 30,758,046 18,470,096 13,566,333 Income Tax Expense 7,431,840 8,189,566 7,192,787 6,193,503 6,164,817 Continuing Operations after Tax 12,109,405 16,982,689 23,565,259 12,276,593 N/A Discontinued Operations after Tax N/A N/A N/A N/A N/A Outside Equity Interest 217, , , , ,356 NPAT 11,891,818 16,856,948 23,271,997 12,005,751 6,863,160 Significant Items 0 0 1,932, ,756-5,655,569 Dividends 6,643,498 6,444,500 5,044,497 4,358,007 5,326,390 AUDIT Audit Fees 26,241 31,513 21,364 17,895 17,886 Audit Other 6,133 8,115 4,543 4,471 12,198 Total Audit Fees 32,373 39,628 25,907 22,366 30,084 BALANCE SHEET CURRENT ASSETS Cash At Bank 6,626,004 5,227,545 9,923,664 11,754,727 12,650,777 Trade Debtors 4,983,717 5,164,128 5,971,519 4,666,597 4,326,699 Inventory 6,365,775 6,815,162 6,056,151 5,033,696 5,629,965 Other Current Assets 3,658,516 5,154,288 2,926,713 2,263,936 3,651,710 Total Current Assets 21,634,012 22,361,123 24,878,048 23,718,956 26,259,151 NON-CURRENT ASSETS Receivables 1,726,479 1,612,765 2,059,721 1,303, ,864 Investments 1,856,593 2,056,685 1,576,528 1,424,987 1,801,915

10 BHP Billiton Limited 10 Property & Plant Equipment 112,540, ,143,070 66,864,675 52,447,071 57,259,570 Intangible Assets 5,714,108 5,589, , , ,916 Other Non-Current Assets 7,536,806 5,583,994 5,547,372 4,307,046 5,005,190 Total Non-Current Assets 129,374, ,985,975 76,405,524 60,130,676 65,728,455 Total Assets 151,008, ,347, ,283,572 83,849,632 91,987,606 CURRENT LIABILITIES Trade Creditors 8,315,307 9,542,102 6,560,995 4,218,339 4,390,928 Interest Bearing Debt 5,798,300 3,860,795 3,463,048 2,549,877 1,277,573 Provisions 2,618,693 3,044,026 2,220,130 1,792,086 2,203,639 Other Current Liabilities 5,542,445 7,645,053 7,179,994 3,747,433 5,966,290 Total Current Liabilities 22,274,745 24,091,976 19,424,166 12,307,735 13,838,430 NON-CURRENT LIABILITIES Interest Bearing Debt 32,651,111 27,115,227 12,191,031 12,808,840 17,896,535 Provisions 9,006,336 9,746,568 9,145,241 7,014,522 8,211,970 Other Non-Current Liabilities 8,313,120 7,042,589 3,686,438 5,166,758 4,498,365 Total Non-Current Liabilities 49,970,567 43,904,384 25,022,710 24,990,120 30,606,870 Total Liabilities 72,245,312 67,996,359 44,446,876 37,297,855 44,445,300 SHAREHOLDERS' EQUITY Share Capital 2,465,617 2,465,617 2,217,177 2,211,089 2,736,155 Reserves 2,153,998 2,090,581 1,969,184 1,798,692 1,523,979 Retained Earnings 73,234,839 68,048,842 52,286,217 42,278,704 43,011,242 Other 1,499,051 1,328, , , ,025 Total Equity 78,763,069 73,350,739 56,836,696 46,551,777 47,542,306 OTHER Number of Employees 49,496 46,370 40,757 39,570 40,990 Number of Shares on Issue (end of period) 3,211,691,105 3,211,691,105 3,211,654,687 3,358,444,496 3,358,444,496 Market Capitalisation (end of period) ('000) 100,750, ,007, ,670, ,445, ,605,200 Earnings per Share (basic) (cents) Earnings per Share (diluted)(cents) Qualified Audit Report No No No No No * IBISWorld estimate

11 BHP Billiton Limited 11 Financial Balance Date 30-Jun Jun Jun Jun-2010 Ave (%) Total Revenue () Sales Revenue () EBITDA () NPAT () Shareholders' Funds () Total Assets () Employees () Financial Ratios Balance Date 30-Jun Jun Jun Jun Jun-2009 Return on Revenue (ROR) (%) Return on Shareholders' Funds (ROSF) (%) Return on Assets (ROA) (%) Profit Margin (%) Revenue per Employee ($'000 per person) 1, , , , ,439.3 NPAT per Employee ($'000 per person) Effective Tax Rate (%) Gearing (%) Interest Cover (X) Current Ratio (X) Dividends Paid per Share ($) Revenue & NPAT Key Measures ()

12 BHP Billiton Limited 12 Industry Financial Averages Financial Ratios Industry Average* BHP Billiton 30-Jun-2013 Unit Return On Shareholders Funds Percent Return On Total Assets Percent Gearing Percent Interest Cover Times Current Ratio Times NPAT/Employee A$ 000 Pre-Tax Margin Percent EBITDA 1,478,568 27,879,510 A$ 000 Effective Tax Rate Percent Days Stock Held Days Debtors T/O Days Creditors T/O Days Revenue/Employee 1,048 1,558 A$ 000 Net Assets Per Share A$ Dividend Per Share A$ Earnings Per Share A$ Dividend Payout Ratio Percent Asset Turnover Ratio Times Ratios Industry Average* BHP Billiton 30-Jun-2013 Unit Revenue Percent NPAT Percent Asset Percent Employees Percent Dividend Rate Percent *Companies included in the Industry Averages Calculations operate in the Metal Ore Mining in Australia industry.

13 BHP Billiton Limited 13 Segments Balance Date: 30 June, 2013 Profit Definition: Profit After Tax Attributable to Members of the Company Operating Divisions Segment Name Revenue AUD000 Profits AUD000 Assets AUD000 Petroleum & Potash 14,447,094 6,178,803 48,470,422 Copper 13,110,959 3,960,295 20,352,548 Iron Ore 22,042,944 12,159,701 30,333,103 Coal 11,724, ,676 20,336,147 Aluminium, Manganese & Nickel 10,122, ,318 13,222,486 Unallocated 5,687,868-11,401,975 18,293,675 Operating Divisions - Revenue Segment Name % of Total Revenue Petroleum & Potash 18.7% Copper 17.0% Iron Ore 28.6% Coal 15.2% Aluminium, Manganese & Nickel 13.1% Unallocated 7.4% Operating Divisions - Assets Segment Name % of Total Assets Petroleum & Potash 32.1% Copper 13.5% Iron Ore 20.1% Coal 13.5% Aluminium, Manganese & Nickel 8.8% Unallocated 12.1%

14 BHP Billiton Limited 14 Operating Divisions - Key Ratios Segment Name Profit as % of Revenue Profit as % of Assets Petroleum & Potash 42.8% 12.7% Copper 30.2% 19.5% Iron Ore 55.2% 40.1% Coal 7.0% 4.0% Aluminium, Manganese & Nickel 1.8% 1.4% Unallocated % -62.3% Company 15.4% 7.9% Operating Divisions - Industries by Operating Segment Historical Rates 2009/ /14 Forecast Rates 2014/ /19 Petroleum & Potash B Oil and Gas Extraction in Australia 4.9% 16.4% B Petroleum Exploration in Australia 4.5% 2.4% C Petroleum Refining and Petroleum Fuel Manufacturing in Australia -0.8% -0.5% F Petroleum Product Wholesaling in Australia -0.4% 3.2% Copper B Copper Ore Mining in Australia 8.0% 1.8% B Gold Ore Mining in Australia 6.0% 2.1% B Silver, Lead and Zinc Ore Mining in Australia 4.7% 2.7% B Uranium Mining in Australia 0.1% 12.3% B Manganese and Other Mineral Mining in Australia -6.6% 0.4% B Mineral Exploration in Australia 9.6% -3.9% C Copper, Silver, Lead and Zinc Smelting and Refining in Australia -7.5% -2.8% C Nickel and Other Basic Non-Ferrous Metal Manufacturing in Australia 7.9% 3.7% F Metal and Mineral Wholesaling in Australia 4.8% 3.0% Iron Ore B Iron Ore Mining in Australia 14.3% 5.3% B Mineral Exploration in Australia 9.6% -3.9% F Metal and Mineral Wholesaling in Australia 4.8% 3.0% Coal B Black Coal Mining in Australia -3.6% 6.4% B Mineral Exploration in Australia 9.6% -3.9% C Bituminous Product Manufacturing in Australia 0.5% 1.1% F Metal and Mineral Wholesaling in Australia 4.8% 3.0%

15 BHP Billiton Limited 15 Aluminium, Manganese & Nickel B Bauxite Mining in Australia 18.4% 4.5% B Manganese and Other Mineral Mining in Australia -6.6% 0.4% B Mineral Exploration in Australia 9.6% -3.9% C Alumina Production in Australia 1.5% 1.6% C Aluminium Smelting in Australia -7.9% 0.8% C Nickel and Other Basic Non-Ferrous Metal Manufacturing in Australia 7.9% 3.7% F Metal and Mineral Wholesaling in Australia 4.8% 3.0% Unallocated No Industries GDP Rate 2.6% 2.5% Geographic Locations Segment Name Revenue AUD000 Profits AUD000 Assets AUD000 China 21,173,691 N/A N/A Rest of Asia 14,916,163 N/A N/A North America 9,203,148 N/A 37,023,617 Japan 8,509,932 N/A N/A Rest of Europe 6,907,008 N/A N/A Australia 5,011,052 N/A 62,088,719 Unallocated 5,006,679 11,891,818 30,199,709 South America 1,948,439 N/A 14,959,899 United Kingdom 1,805,203 N/A 363,009 Southern Africa 1,438,914 N/A 5,555,565 Rest of the World 1,215,861 N/A 817,863 Total 77,136,090 11,891, ,008,400 Geographic Locations - Revenue Segment Name % of Total Revenue China 27.4% Rest of Asia 19.3% North America 11.9% Japan 11.0% Rest of Europe 9.0% Australia 6.5% Unallocated 6.5% South America 2.5% United Kingdom 2.3% Southern Africa 1.9% Rest of the World 1.6%

16 BHP Billiton Limited 16 Geographic Locations - Assets Segment Name % of Total Assets North America 24.5% Australia 41.1% Unallocated 20.0% South America 9.9% United Kingdom 0.2% Southern Africa 3.7% Rest of the World 0.5% Geographic Locations - Ratios Profit as % of Revenue Profit as % of Assets China N/C N/C Rest of Asia N/C N/C North America N/C N/C Japan N/C N/C Rest of Europe N/C N/C Australia N/C N/C Unallocated South America N/C N/C United Kingdom N/C N/C Southern Africa N/C N/C Rest of the World N/C N/C Company

17 BHP Billiton Limited 17 Competitive Environment B0601 Black Coal Mining in Australia Industry Statistics Industry Size 2011/2012 $ million 54,374 Industry Turnover Rate 2011/ Industry Concentration Level Medium Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 61 BHP Billiton was formed in June 2001, when the Australian firm BHP Ltd merged with the Londonbased mining house Billiton plc. The merger produced one of the largest mining houses worldwide, with interests in a diverse range of minerals and in petroleum. BHP Billiton mines coking coal and thermal coal in Australia and has thermal coal operations in South Africa, the United States and Colombia. Most of the company's Australian coal output comes from two joint ventures in Queensland: the BHP Billiton Mitsubishi Alliance (BMA, 50.0% each) and BHP Mitsui Coal (80.0% BHP Billiton). BHP Billiton also produces coal at its Illawarra operations in New South Wales. Financial performance The company quotes its revenue and earnings before interest and tax (EBIT) in US dollars, and these have been converted into Australian dollars using the applicable exchange rate on balance day. Over the five years through , BHP's coal operations revenue is estimated to grow behind the overall industry. The company has lost market share as a result. BHP Billiton Limited - industry segment performance* Year Revenue $ billion N/C SOURCE: Annual Report and IBISWorld Note: *Estimate Major Competitors Market Share BHP Billiton Limited Rio Tinto Plc - Rio Tinto Limited Glencore Coal Investments Australia Pty Limited 7.70 Mitsubishi Development Pty Ltd 6.80 Anglo American Australia Limited 6.10

18 BHP Billiton Limited 18 B0700 Oil and Gas Extraction in Australia Industry Statistics Industry Size 2011/2012 $ million 48,161 Industry Turnover Rate 2011/ Industry Concentration Level Medium Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 27 BHP Billiton Limited was formed in June 2001, when Australian firm BHP Ltd merged with Londonbased mining house Billiton PLC. The merger produced one of the largest mining houses in the world. BHP Billiton has substantial oil and gas-producing assets in Australia. ExxonMobil Australia and BHP Billiton own the oil and gas wells in the Gippsland Basin in equal shares, though ExxonMobil is the operator. BHP Billiton is also a participant in the North West Shelf Project in Western Australia. Financial performance Over the five years through , revenue for BHP's oil and gas extraction activities grew more slowly than the overall industry. BHP Billiton has lost market share as a result. This growth has not been uniform across the whole five-year period, with revenue dipping in in response to curtailed demand during the global economic downturn. Other factors causing revenue to fluctuate over this period include the rise and fall of production volumes and movements in exchange rates. BHP Billiton Limited (Australian oil and gas segment) - financial performance Year* Revenue $ billion Operating Profit $ billion N/C 1.75 N/C ** SOURCE: Annual Report and IBISWorld Note: *Year end June **Estimate Major Competitors Market Share Woodside Petroleum Ltd Chevron Australia Holdings Pty Ltd BHP Billiton Limited Shell Energy Holdings Australia Limited 7.40 Santos Ltd 6.90 B0801 Iron Ore Mining in Australia

19 BHP Billiton Limited 19 Industry Statistics Industry Size 2011/2012 $ million 67,219 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 106 With a history dating back to 1860, Billiton was originally based in the Netherlands and Broken Hill Proprietary Company Limited (BHP) was based in Melbourne. The companies merged in 2001, with head offices in London and Melbourne. The company had over 46,000 employees as at BHP Billiton Limited and its subsidiaries are major producers of iron ore, nearly all of which is produced in Australia. The company also mines and processes coal, oil, gas, petroleum, aluminium, uranium, diamonds and other minerals and metals in 17 countries around the world. BHP Billiton mines ore via a number of joint ventures, in which it holds an 85% interest. The ventures comprise the Mount Newman Joint Venture, the Goldsworthy Joint Venture, the Area C Joint Venture and the Yandi Joint Venture. The other participants in the first three ventures are Japanese groups, while the South Korean steelmaker POSCO has an interest in the Area C Joint Venture. BHP Billiton's mining operations (via these joint ventures) comprise Mount Whaleback and nearby satellite ore bodies, Jimblebar, Yandi Area C and Yarrie. Processing and shipping facilities are located at Nelson Point and Finucane Island, Port Hedland, all in Western Australia. All the mining operations have some ore processing capability at the mine sites. The company has two beneficiation facilities, one at Mount Whaleback and one at Finucane Island. The Mount Whaleback beneficiation plant treats ores using a heavy medium (ferrosilicon), drums, cyclones and spiral-circuit techniques to separate the heavier iron ore from the lighter overburden materials. The Finucane Island beneficiation plant uses a similar process to upgrade ore from Yarrie through a wet high-intensity magnetic separation circuit and spirals and jigs. Once the ore is processed at the mines, it is stockpiled over railway load-out facilities. From there, it is loaded into ore cars for railing to Port Hedland. BHP Billiton operates two heavy-haulage railroads to Port Hedland, one running 426 kilometres from Newman and the Yandi and Area C mines, and the other 210 kilometres from the Yarrie mine. In June 2009, BHP Billiton and Rio Tinto announced plans to merge their Pilbara iron ore operations in Western Australia. The planned new production joint venture (with each party holding 50%) was expected to result in substantial savings in operating costs (estimated at $10 billion). However, regulators in Japan, South Korea, Europe and Australia expressed concerns over the plan. The WA Government indicated that it would use the merger to end the concessional royalty rate applicable to the two companies on some projects. In October 2010, Rio Tinto and BHP Billiton announced that they had abandoned plans for the merger, citing opposition from regulatory authorities in several countries. Financial performance Revenue from BHP's Australian iron ore operations increased at an annualised 11.8% in nominal terms to $18.0 billion over the five years through , which is lower growth than the overall industry. The company benefited from favourable price movements in and , and consistent increases in production volumes each year. was restricted over due to sharp decreases in global iron ore prices, as weak global economic activity took its toll on demand. The continued decline in prices over the first few months of saw revenue fall for the year. Iron ore profit increased in most years over the past five years, with margins growing on average over the period. BHP's iron ore production increased at an annualised 8.9% in the five years through to million metrics tonnes, with generally medium to high growth across each year. Unlike Rio Tinto, BHP Billiton did not slash its iron ore production in late Instead, the company maintained production

20 BHP Billiton Limited 20 by selling onto the spot market, although these sales attracted a lower price than those made under long-term contracts. BHP Billiton Limited (iron ore segment) - financial performance* Year Revenue $ billion EBIT $ billion Production Volume Million metric tonnes N/C 5.3 N/C N/C SOURCE: Annual Report Note: *BHP Billiton's share of Australian production Major Competitors Market Share Rio Tinto Plc - Rio Tinto Limited BHP Billiton Limited Fortescue Metals Group Limited B0802 Bauxite Mining in Australia Industry Statistics Industry Size 2011/2012 $ million 1,830 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 13 BHP Billiton Limited was formed in June 2001 when the Australian mining company BHP Ltd and the London-based mining company Billiton plc merged. Although Billiton was listed in the United Kingdom, most of its operations were based in South Africa. BHP Billiton is listed on the Australian, London, New York and Johannesburg stock exchanges. The company is a major global mining house for iron ore, copper, coal and other minerals and commodities. Within the industry, BHP Billiton is the major participant (86%) in the Worsley joint venture, which mines bauxite and produces alumina. Worsley Alumina Pty Ltd manages the Worsley mine and alumina refinery at Mount Saddleback, WA. The other participants in the project are Japan Alumina Associates (Australia) Pty Ltd (10%) and Sojitz Alumina Pty Ltd (4.0%). All bauxite produced at the Worsley mine is refined at the associated alumina refinery. The bauxite mined at Worsley is relatively low grade and it takes almost four tonnes of bauxite to produce one tonne of alumina. However, the project is reputed to have low operating costs. An estimated 13.1 million tonnes of bauxite were mined in to produce approximately 3.5 million tonnes of alumina. In mid-2008, the joint venturers approved plans to expand alumina output by 1.1 million tonnes per year at a cost of about US$2.3 billion. Since that time, the expected cost of the project blew out to about US$3.5 billion. First output from the expansion was produced late in the second quarter of 2012 and by

21 BHP Billiton Limited 21 year end the refinery was operating at 95% of capacity. Bauxite output of about 17.3 million tonnes per year is required to feed the expanded alumina refinery. Financial performance BHP Billiton's revenue from its Australian bauxite mining operations has been estimated from production volumes and prices. Bauxite revenue from BHP Billiton's Australian operations is estimated to increase at an annualised 18.8% over the five years through in nominal terms to $225.0 million. This is slightly lower growth than the estimated industry average rate over the same period (in nominal terms) due to the lower prices achieved for the lower-grade bauxite from its Western Australian operations. Major Competitors Market Share Rio Tinto Plc - Rio Tinto Limited Alcoa of Australia Limited BHP Billiton Limited B0803 Copper Ore Mining in Australia Industry Statistics Industry Size 2011/2012 $ million 7,817 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 77 BHP Billiton has owned and operated the polymetallic Olympic Dam project in South Australia since August The mine, which began mining ore in 1988, produces copper, gold, uranium and small quantities of silver. The project's previous owner was WMC Resources Ltd. In early 2005, BHP Billiton trumped a takeover bid for WMC Resources made by Xstrata. By mid-2005, BHP Billiton had secured more than 90% of WMC Resources and subsequently proceeded to compulsorily acquire the outstanding shares. BHP has over 46,000 employees. The Olympic Dam project has been expanded several times since commencing operation. Initially, about 1.6 million tonnes of copper-uranium ore was mined per year, yielding up to 45,000 tonnes of copper in concentrate form. By 1999, copper production capacity had increased to about 200,000 tonnes per year. Provisions were also made to allow further expansion to about 245,000 tonnes per year at minimal cost. The mine's copper output has dropped to 166,200 tonnes in This drop can be linked to Olympic Dam reducing overheads, operating costs and non-essential expenditures. These cost-cutting measures were for Olympic dam to remain competitive in the face of lower commodity prices and a strong Australian dollar in In August 2012, an expansion project for Olympic dam was postponed indefinitely. BHP Billiton stated that it was looking for a cheaper design for the expansion. The expansion was to include converting the underground mine into an open-pit mine, desalination plants, rail infrastructure and energy infrastructure. The mine's copper output amounted to 192,600 tonnes in , little changed from 194,100 tonnes in Production almost doubled in as output returned to normal levels. In the previous year, mine production had fallen to about 97,402 tonnes due to the failure of the main haulage shaft in October The operation did not return to full production until the second quarter of Mine output of copper from Olympic Dam was 184,810 tonnes in and 183,130 tonnes in

22 BHP Billiton Limited 22 Financial performance Olympic Dam's revenue and earnings before interest and tax (EBIT) fell in on the back of lower prices. In the previous year, the rebound in output lifted revenue and EBIT, despite the negative effect of the stronger Australian dollar. Sharply lower output due to the haulage shaft failure pushed down revenue and EBIT in Much lower copper prices in the previous year had already cut revenue and EBIT. Olympic Dam's performance also deteriorated in , as lower output and a stronger Australian dollar offset the benefits of a much higher copper price. Despite the world price of copper decreasing marginally, the world demand for copper is expected to increase over the five years through The expansion of Olympic dam is anticipated to take place over this five-year period to supply this demand. This includes the conversion of Olympic dam's underground mine operations into an open-pit mine. This will increase resource recovery and extend the life of Olympic dam to 80 years. BHP Billiton's revenue from Olympic Dam is expected to grow by 3.0% per year over the five years through BHP is expected to have grown at a slower rate than industry, resulting in a loss of market share. BHP Billiton Limited (Olympic Dam operations) - industry segment performance Year Revenue $ billion * SOURCE: Annual Report and IBISWorld Note: *Estimate Major Competitors Market Share Glencore Coal Investments Australia Pty Limited BHP Billiton Limited OZ Minerals Limited 9.20 Newcrest Mining Limited 7.90 Aditya Birla Minerals Limited 7.70 Rio Tinto Plc - Rio Tinto Limited 5.90 B0807 Silver, Lead and Zinc Ore Mining in Australia Industry Statistics Industry Size 2011/2012 $ million 4,793 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 10

23 BHP Billiton Limited 23 BHP Billiton's Cannington silver-lead-zinc project in north-west Queensland commenced operations in late Ore is mined underground at Cannington using both open-stope and bench-mining methods. Metallurgical processing incorporates grinding, sequential flotation and leaching to produce high-grade marketable products. The operation includes a rail-loading facility at Yurbi and a minerals concentrate handling facility at the Port of Townsville (700 kilometres east of the mine). Cannington is the world's largest and lowest cost single-mine producer of both silver and lead. About 1.5 million tonnes of ore per year were originally mined and processed at Cannington, but by the mid-2000s, ore throughput had reached about 2.75 million tonnes. As a result, production has increased markedly since the mine was opened. Output in was 54,677 tonnes of zinc, 239,100 tonnes of lead and 34.2 million ounces of silver, all in concentrate form (60,657 tonnes of zinc, 243,364 tonnes of lead and 35.2 million ounces of silver in ). Typically, Cannington accounts for 35% to 40% of Australia's mine output of lead and about 55% to 60% of its mine output of silver, although its zinc output is less than 5.0% of the total. Financial performance Lower prices for lead and zinc (in both US and Australian dollars) pulled down Cannington's revenue and profit in , more than offsetting the gains from higher silver prices. Cannington reported higher revenue and profit in , as higher metals prices (in Australian and US dollars) more than offset a small reduction in output. Cannington's financial performance improved strongly in on the back of higher production levels and higher US dollar prices for zinc, lead and silver (partly offset by a stronger Australian dollar). Performance deteriorated in , as output fell and the US dollar prices for zinc, lead and silver nosedived. A weaker Australian dollar only partly shielded the mine from lower US dollar prices. The revenue generated by BHP Billiton's Cannington operation is expected to decline by 1.3% per year over the five years through BHP Billiton Limited (Cannington mine) - financial performance Year Revenue $ million NPBT $ million * N/A N/C SOURCE: Annual Report and IBISWorld Note: *Estimate Major Competitors Market Share BHP Billiton Limited Xstrata Holdings Pty Ltd Perilya Limited 5.00 B0808 Uranium Mining in Australia

24 BHP Billiton Limited 24 Industry Statistics Industry Size 2011/2012 $ million 992 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 4 BHP Billiton entered the industry when it acquired WMC Resources Ltd in August 2005 and became the owner of the Olympic Dam mine in South Australia, where copper, gold and uranium have been mined since The Olympic Dam mine is based on the largest known uranium deposit in the world. The mine has long-term contracts to supply uranium oxide to power utilities in several countries, including Belgium, Canada, Finland, France, Spain, Sweden, the United Kingdom and the United States. Initially, the mine's production capacity was 1,900 tonnes of uranium oxide per year, although output was well below this figure during most of the 1990s, reflecting weak uranium prices due to oversupply. A large expansion at Olympic Dam, completed in 1999, lifted uranium oxide output capacity to about 4,500 tonnes. BHP Billiton has a long-term plan to expand Olympic Dam, lifting uranium production capacity to about 19,000 tonnes per year and more than tripling copper output to 750,000 tonnes per year over a 10-year period. Although the company undertook substantial pre-commitment spending on the expansion during 2010 and 2011, in August 2012 it announced that the $20.0 billion project would be delayed, partly due to high and rising capital costs. Instead, the company is investigating less capitalintensive options to expand the mine. Financial performance The overall performance of the Olympic Dam project has followed broad trends in output and prices. Much weaker US dollar copper prices, combined with a strong Australian dollar pulled back the project's performance in In contrast, large gains were made the previous year, as production volumes were restored after the haulage shaft failure of Lower prices in the previous year had already cut revenue and EBIT. Olympic Dam's performance also deteriorated in , as lower output and a stronger Australian dollar offset the benefits of a much higher copper price. The revenue generated by Olympic Dam's uranium sales is expected to increase at an annual compound rate of 3.1% over the five years through to reach $421.3 million. BHP Billiton reported that Olympic Dam produced 3,885 tonnes of uranium oxide in , compared with 4,045 tonnes of uranium oxide in and just 2,279 tonnes in the previous year. Output in was cut by a mechanical failure in the main haulage shaft at the mine. Production was 4,007 tonnes in and 4,144 and tonnes in Production rose substantially in due to increases in the volume of ore mined and milled, as well as higher ore grades. BHP Billiton Limited (Olympic Dam operations) - industry segment performance* Year Revenue $ million EBIT $ million

25 BHP Billiton Limited N/C N/A N/C SOURCE: Annual Report and IBISWorld Note: *Estimate Major Competitors Market Share BHP Billiton Limited Energy Resources of Australia Ltd B0809 Manganese and Other Mineral Mining in Australia Industry Statistics Industry Size 2011/2012 $ million 2,294 Industry Turnover Rate 2011/ Industry Concentration Level High Estimated BHP Billiton Market Share (%) Number of Enterprises in Industry 53 BHP Billiton is involved in the industry via its partly owned subsidiary Groote Eylandt Mining Company Pty Ltd (GEMCO), which is 60.0% owned by BHP Billiton and 40.0% owned by the Anglo American Corporation of South Africa. The operation mines manganese at Groote Eylandt in the Northern Territory and is the third-largest producer of manganese ore in the world, after South Africa and Gabon. The mine supplies a wide range of high-quality ores. GEMCO is undergoing further mining and infrastructure expansion, which is due to be completed at the end of Road and port facilities are being expanded to accommodate further mining expansion projects in the future. GEMCO produced 5.0 million tonnes of manganese ore in , up from 4.3 million tonnes in , and with generally steady growth in most of the past five years, excluding a fall in However, annual manganese sales totalled 4.5 million tonnes in and 4.4 million tonnes in due to variances in mining, sales and shipment timings. Production was reduced in due to weak demand from steelmakers because of the effects of the global financial crisis. Sales were also made from stockpiles that year. Although mine capacity was expanded in , it was not until that full advantage could be taken of that increase. Financial performance BHP Billiton reports on the financial performance of its manganese operations, which includes ore production from South Africa (also in a joint venture with Anglo American) in addition to Groote Eylandt, as well as manganese alloy production and sales. The financials on manganese production reported by BHP Billiton have been adjusted to reflect the value of production from Groote Eylandt on the basis of output volumes and adjusted for estimated manganese alloy sales. Revenue from BHP Billiton's manganese ore production decreased at an estimated annualised 6.1% in nominal terms in the five years through to $870.0 million. This is a greater average decline compared to the industry average of 5.7% (in nominal terms) over the same period, due to smaller falls in other product segments within the industry. Lower manganese prices have taken their toll on revenue and profit over the past five years, more than offsetting the favourable effects of rising production volumes. BHP Billiton Limited (manganese) - financial performance