South32 copper and zinc production guidance remains unchanged

Sierra Gorda payable copper equivalent production increased by 11% (or 2.3kt) to 22.4kt in the September 2026 quarter, as higher planned copper grades more than offset  temporary wet weather impacts during the quarter. FY27 payable copper equivalent production guidance remains unchanged at 91.8kt.

Execution of the fourth grinding line project commenced during the quarter, following final investment approval by the joint venture partners. The project is expected to increase processing capacity by approximately 25% to ~60Mtpa (100% basis), with first production in mid FY30 and full production rates in FY31.

Cannington payable zinc equivalent production decreased by 27% (or 22.4kt) to 59.2kt in the September 2026 quarter, as a temporary reduction in paste backfill availability delayed access to planned stopes, resulting in lower mined volumes and grades.

Ore processed exceeded mined volumes by approximately 234kdmt in the quarter, as we processed lower-grade stockpiles to supplement mined ore feed.

FY27 payable zinc equivalent production guidance remains unchanged at 290.0kt, with upgrades to the paste delivery system expected to support improved mining rates over the remainder of FY27 and continued processing of lower-grade stockpiles providing additional mill feed.

The company progressed mine life extension studies during the quarter and remain on track to provide an update with its H1 FY27 financial results.