SOUTH32 LIMITED CREDIT RATINGS South32 Limited (Incorporated in Australia) ACN 093732597 (Formerly known as BHP Coal Holdings Pty Limited) Share code: S32 ISIN: AU000000S320 SOUTH32 LIMITED CREDIT RATINGS South32 Limited advises that Moody’s Investors Service and Standard and Poor’s Ratings Services have assigned long term and short term credit ratings for South32 Limited. A copy of each press release can be found on South32’s website: http://www.south32.net/. IMPORTANT INFORMATION This release is not a prospectus or listing document in any jurisdiction but constitutes an advertisement in relation to South32 Limited (“South32”) for the purposes of the UK Prospectus Rules. Any investment decision in relation to South32 should be made only on the basis of the information contained in the Listing Document for the relevant jurisdiction. The “Listing Documents”, which are available, subject to applicable securities laws, on the BHP Billiton website at www.bhpbilliton.com/demerger, comprise a prospectus which has been approved by the UK Listing Authority in connection with the proposed admission of South32’s ordinary shares to the standard listing segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of London Stock Exchange plc, an information memorandum in connection with South32’s application for the admission of its ordinary shares to listing on the Australian Securities Exchange and a pre-listing statement in connection with South32’s application for the admission of its ordinary shares to listing on the Johannesburg Stock Exchange. Subject to applicable securities laws, BHP Billiton shareholders may obtain printed copies of the Listing Document applicable to their jurisdiction free of charge by calling the Shareholder Information Line (details set out in section 3.9 of the Listing Documents). Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities in South32 in any jurisdiction, or be treated or relied upon as a recommendation or advice by South32. Media Relations Steven Blaney +61 8 6321 1641 +61 (0) 487 349 548 Steven.Blaney@bhpbilliton.com Jill Thomas +61 8 6321 0673 +61 (0) 423 259 190 Jill.Thomas@bhpbilliton.com Investor Relations Peter Harris +61 8 6321 9954 +61 (0) 476 559 190 Peter.Harris@bhpbilliton.com Further information on South32 Limited can be found at: www.South32.net. Further information about the demerger can be found at: www.bhpbilliton.com/demerger. Perth 22 May 2015 JSE sponsor: UBS South Africa (Pty) Limited Date: 22/05/2015 09:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.