Currency conversion to Rand South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX / LSE / JSE Share Code: S32 ISIN: AU000000S320 south32.net Currency conversion to Rand South32 Limited (ASX, LSE, JSE: S32) (South32) advises that on 16 February 2017, the Board resolved to pay an interim dividend of US 3.6 cents per share for the half year ended 31 December 2016. The dividend payment date is 6 April 2017. The US cent currency exchange rate applicable to the dividend payable in South African cents, to shareholders on the South African branch register on the Record Date, is: Currency Exchange rate Dividend per ordinary share in South African Cents South African cents 13.06550 47.03580 The currency exchange rate is the volume weighted average price achieved on foreign exchange trades executed over the period 28 February 2017 to 3 March 2017. The exchange rates applicable to the South32 dividend being paid in other currencies will be determined over the period 3 March 2017 to 15 March 2017. Details of the currency exchange rates applicable for the dividend will be announced to the relevant stock exchanges. Further dividend information is available on our website (www.south32.net). South32 shareholders registered on the South African branch register will not be able to dematerialise or rematerialise their shareholdings between 8 March 2017 and 10 March 2017 (both dates inclusive), nor will transfers to or from the South African branch register be permitted between 3 March 2017 and 10 March 2017 (both dates inclusive). 1. South African dividends tax of 9.40716 South African cents per ordinary share will be withheld from the amount of the gross final dividend of 47.03580 South African cents per ordinary share paid to shareholders on the South African branch register at the rate of 20%, unless a shareholder qualifies for an exemption. 2. After the South African dividends tax has been withheld, the net dividend will be 37.62864 South African cents per ordinary share. 3. The dividend is regarded as 'foreign' for the purposes of South African dividends tax. 4. South32 had a total of 5,323,762,901 ordinary shares on issue at the dividend determination date of 16 February 2017. Registered Office: Level 35, 108 St Georges Terrace, Perth Western Australia 6000, Australia ABN 84 093 732 597 Registered in Australia 5. The dividend will be paid out of retained earnings. 6. For the avoidance of doubt, South African dividends tax, and therefore the information provided in this announcement, is of only direct application to shareholders on the South African branch register. Shareholders on the South African branch register should direct any questions regarding the application of the South African dividends tax to Computershare Investor Services online at www.computershare.com/za or by calling +27 (0) 86 110 0950. Holders of shares dematerialised into STRATE should contact their Central Security Depository Participant (CSDP) or stockbroker. About South32 South32 is a globally diversified mining and metals company with high quality operations in Australia, Southern Africa and South America. 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 have a simple strategy to maximise the potential of our assets and shareholder returns by optimising our existing operations, unlocking their potential and identifying new opportunities to compete for capital. FURTHER INFORMATION INVESTOR RELATIONS Alex Volante Rob Ward T +61 8 9324 9029 T +61 8 9324 9340 M +61 403 328 408 M +61 431 596 831 E Alex.Volante@south32.net E Robert.Ward@south32.net MEDIA RELATIONS Diana Wearing Smith James Clothier T +61 8 9324 9198 T +61 8 9324 9697 M +61 436 482 290 M +61 413 319 031 E Diana.Smith@south32.net E James.Clothier@south32.net Further information on South32 can be found at www.south32.net. JSE Sponsor: UBS South Africa (Pty) Ltd 3 March 2017 Date: 03/03/2017 10:09:00 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.