BHP BILLITON PLC - BHP Results for the Year Ended 30 June 2018

Release Date: 21/08/2018 07:05
Code(s): BIL
 
Wrap Text
BHP Results for the Year Ended 30 June 2018

BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
                                                                  

21 August 2018

                         For Announcement to the Market

Name of Companies:   BHP Billiton Limited (ABN 49 004 028 077) and
                     BHP Billiton Plc (Registration No. 3196209)

Report for the year ended 30 June 2018

This statement includes the consolidated results of BHP for the year ended 30
June 2018 compared with the year ended 30 June 2017 and the year ended 30 June
2016.

The results are prepared in accordance with IFRS and are presented in US
dollars.

Headline Earnings

In accordance with the JSE Listing Requirements, Headline earnings/(loss) is
presented below.

                                                                        Year ended   Year ended   Year ended
                                                                       30 June 2018 30 June 2017 30 June 2016
                                                                           US$M         US$M         US$M
                                                                       ------------ ------------ ------------
Earnings/(loss) attributable to ordinary shareholders/(1)/............     3,705        5,890       (6,385)

Adjusted for:
Gain on sale of PP&E, Investments and Operations......................       (12)        (356)          (1)
Impairments...........................................................     3,101          186        7,872
Recycling of re-measurements from equity to the income statement......        --           --           (9)
Tax effect of above adjustments.......................................      (182)         (25)      (2,343)
                                                                          ------       ------       ------
Subtotal of Adjustments...............................................     2,907         (195)       5,519

Headline earnings/(loss)..............................................     6,612        5,695         (866)
                                                                          ======       ======       ======
Diluted Headline earnings/(loss)......................................     6,612        5,695         (866)
                                                                          ======       ======       ======

Basic earnings per share denominator (millions).......................     5,323        5,323        5,322
Diluted earnings per share denominator (millions).....................     5,337        5,336        5,322

Headline earnings/(loss) per share (US cents).........................     124.2        107.0        (16.3)
Diluted Headline earnings/(loss) per share (US cents).................     123.9        106.7        (16.3)

1)  Includes loss after taxation from discontinued operations attributable to
    ordinary shareholders 30 June 2018 US$2,947 (30 June 2017: US$485; 30 June
    2016: US$5,846 million).


Sponsor: UBS South Africa (Pty) Limited

--------------------------------------------------------------------------------

NEWS RELEASE                              LOGO

Release Time    IMMEDIATE

Date            21 August 2018

Number          14/18

                                   BHP RESULTS
                        FOR THE YEAR ENDED 30 JUNE 2018

Following BHP's sale of the Onshore US assets, as announced on 27 July 2018, the
contribution of these assets has been presented in this report as discontinued
operations and related assets and liabilities reclassified as held for sale.

--------------------------------------------------------------------------------

Safety and sustainability: Our highest priority

.   Tragically, we had two fatalities during the year, one at our Permian
    operations and one at Goonyella Riverside.

.   Samarco Governance Agreement settles the BRL20 billion Civil Claim, enhances
    community participation in Renova Foundation programs and establishes a
    process to progress settlement of the BRL155 billion Civil Claim.

Maximise cash flow: US$12.5 billion free cash flow from higher prices and
strong operating performance

.   Attributable profit of US$3.7 billion, Underlying attributable profit of
    US$8.9 billion up 33%, supported by 8% Group copper equivalent volume
    growth.

.   Underlying EBITDA/(ii)/ of US$23.2 billion at a margin/(iii)/ of 55% for
    continuing operations.

.   Net operating cash flow of US$18.5 billion and free cash flow/(i)/ of
    US$12.5 billion reflect higher prices and volumes, with annual production
    records at nine operations across iron ore, coal, copper and petroleum.

.   Productivity up US$374 million in the second half to negative US$96 million
    from continuing operations for the full year.

.   Productivity gains of ~US$1 billion now expected for the 2019 financial
    year, with strong momentum to be carried into the 2020 financial year.

Capital discipline: Net debt in the lower half of target range and investment
plans on track

.   Net debt/(i)/ of US$10.9 billion, down US$15 billion in two years, reflects
    capital discipline and strong free cash flow.

.   Capital and exploration expenditure/(v)/ within guidance at US$6.8 billion.
    Future guidance unchanged at below US$8 billion per annum for the 2019 and
    2020 financial years.

Value and returns: Record final dividend of 63 US cps, ROCE up to 14.4%,
Onshore US exit announced

.   The Board has determined to pay a record final dividend of 63.0 US cents
    per share which includes an additional amount of 17 US cents per share
    above the 50% minimum payout policy (equivalent to US$0.9 billion).

.   Underlying return on capital employed/(iii)/ of 14.4% (after tax) with
    further improvement expected.

.   Onshore US sale announced for US$10.8 billion and we expect to return the
    net proceeds to shareholders.

                                                                             2018    2017   Change
Year ended 30 June/(1)/                                                      US$M    US$M     %
-----------------------                                                     ------  ------  ------
Total operations
Attributable profit........................................................  3,705   5,890   (37%)
Basic earnings per share (cents)...........................................   69.6   110.7   (37%)
Dividend per share (cents).................................................  118.0    83.0    42%
Net operating cash flow.................................................... 18,461  16,804    10%
Capital and exploration expenditure/(v)/...................................  6,753   5,220    29%
Net debt/(i)/.............................................................. 10,934  16,321   (33%)
Underlying attributable profit/(ii)/.......................................  8,933   6,732    33%
Underlying basic earnings per share (cents)/(iii)/.........................  167.8   126.5    33%
                                                                            ------  ------  -----
Continuing operations

Profit from operations..................................................... 15,996  12,554    27%
Underlying EBITDA/(ii)/.................................................... 23,183  19,350    20%
Underlying attributable profit/(ii)/.......................................  9,622   7,217    33%
                                                                            ------  ------  -----
Underlying EBITDA including the contribution from the Onshore US assets.... 24,111     n/a    n/a
                                                                            ------  ------  -----

(1) Where we have used alternate performance measures they are identified by a
    footnote, and definitions can be found on pages 24 and 25.

--------------------------------------------------------------------------------
                                                           1

Results for the year ended 30 June 2018

BHP Chief Executive Officer, Andrew Mackenzie:

"We have announced a record final dividend for shareholders which reflects
strong operating performance, solid prices and capital discipline. Our
relentless focus on safety and productivity has released additional volumes
across our supply chain, with eight per cent volume growth for the year. Our
balance sheet is strong, with net debt now at the lower end of our target range,
and our investment plans on track across iron ore, copper, coal and petroleum.

We have started the new year with the sale of our Onshore US business for
US$10.8 billion, and once completed we expect to return the net proceeds to
shareholders. Across our dramatically simplified portfolio of tier one assets,
we see this year's strong momentum carried into the medium term as our
leadership, technology and culture drive further increases in productivity,
value and returns. Our rich suite of options coupled with our rigorous Capital
Allocation Framework will make sure we get the most out of every dollar we
invest."

We are committed to making our workplaces safer

The health and safety of our employees and contractors, and that of the broader
communities in which we operate, are central to the success of our organisation.
Tragically, two of our colleagues died during the period, one at our Permian
Basin operations in November 2017 and one at Goonyella Riverside in August 2017.
Our Total Recordable Injury Frequency (TRIF) was 4.4 per million hours worked in
the 2018 financial year, a five per cent increase from the prior year. The
number of high potential injuries, which are injury events where there was the
potential for a fatality, declined by eight per cent in the year.

We are committed to becoming safer through how we engage with our teams on risk
and controls, how we design our facilities and how we plan and execute our work.
We are focused on leading indicators to improve safety performance, with a
significant increase in proactive hazard reporting from the workforce and
in-field safety leadership engagements throughout the 2018 financial year. We
are improving the integrity of our facilities and equipment, and are increasing
the application of technology to help make our work places safer.

Making significant progress on the social and environmental remediation
programs in Brazil

BHP remains committed to supporting the Renova Foundation with the recovery of
communities and ecosystems affected by the Samarco tragedy.

Resettlement of the Bento Rodrigues, Paracatu and Gesteira communities remains
one of the Renova Foundation's priority social programs. Resettlements are
expected to be completed by mid-2020 with engagement from a large number of
stakeholders critical to success. The Bento Rodrigues resettlement has achieved
major milestones, and construction has now commenced. Good progress is being
made with the compensation program with approximately 260,000 claims resolved
for temporary interruption to water supplies immediately following the dam
failure. The river remediation programs continue to deliver improvements in
water quality, aquatic habitat and fish levels, and support the restoration of
fishing livelihoods.

Restart of Samarco's operations remains a focus but is subject to separate
negotiations with relevant parties and will occur only if it is safe,
economically viable and has the support of the community. Resuming operations
requires the granting of licences by state and federal authorities, community
hearings and an appropriate restructure of Samarco's debt.

In the 2018 financial year, BHP reported an exceptional loss of US$650 million
(after tax) in relation to the Samarco dam failure. Additional commentary is
included on page 39.

--------------------------------------------------------------------------------
                     News Release                          2

Financial performance

Earnings and margins

.   Attributable profit of US$3.7 billion includes an exceptional loss of US$5.2
    billion (after tax), compared to an attributable profit of US$5.9 billion,
    including an exceptional loss of US$842 million (after tax), in the prior
    period. The 2018 financial year exceptional loss is related to the
    impairment of Onshore US assets, US tax reform and the Samarco dam failure.

.   Underlying attributable profit of US$8.9 billion, compared to US$6.7 billion
    in the prior period.

.   Profit from operations (continuing operations) of US$16.0 billion, compared
    to US$12.6 billion in the prior period, has increased as a result of higher
    prices and an eight per cent increase in Group copper equivalent volumes,
    partially offset by higher costs.

.   Underlying EBITDA (continuing operations) of US$23.2 billion, with higher
    prices, increased volumes and one-off items (in total US$5.6 billion) more
    than offsetting the impacts of higher costs, unfavourable exchange rate
    movements, inflation and other net movements (in total US$1.8 billion).

.   Underlying EBITDA margin (continuing operations) of 55 per cent, achieved
    this year and last year.

.   Underlying return on capital employed of 14.4 per cent (after tax), compared
    with 10 per cent in the prior period. Underlying return on capital employed,
    excluding Onshore US assets, is approximately 18 per cent (after tax).

Productivity and costs

.   Unit costs at our major assets/(vi)/ were broadly in line with guidance (at
    2018 financial year guidance exchange rates of AUD/USD 0.75 and USD/CLP
    663).

.   Unit cost guidance for the 2019 financial year (based on exchange rates of
    AUD/USD 0.75 and USD/CLP 663) reflects improved labour productivity and
    maintenance strategies across the portfolio, offset by higher diesel and
    other input costs, lower copper grades at Escondida, higher strip ratios at
    Queensland Coal and natural field decline at Conventional Petroleum.

.   Strong operating performance at Escondida and Western Australia Iron Ore
    (WAIO) underpinned a US$374 million productivity gain in the second half of
    the year, bringing the total full year movement to negative US$96 million
    (continuing operations).

.   Productivity gains of approximately US$1 billion are now expected for the
    2019 financial year with strong momentum carried into the 2020 financial
    year. This guidance is lowered from US$2 billion over the two years to the
    end of the 2019 financial year and reflects:

    .   the announced divestments of Onshore US and Cerro Colorado - reduction
        of US$200 million related to forecast productivity improvements as these
        assets are no longer included in guidance; and

    .   modified assumptions in respect of the pace of productivity uplift over
        the two year period at Queensland Coal - reduction of approximately
        US$700 million following the challenging operating conditions at the
        Broadmeadow and Blackwater mines during the 2018 financial year.

.   Historical costs and guidance are summarised below:

                                                                                              FY18 at
                                                                               FY19e    guidance   realised   FY18/(2)/
                                                Medium-term       FY19           vs     exchange   exchange      vs
                                                guidance/(1)/  guidance/(1)/  FY18/(2)/ rates/(1)/ rates/(2)/   FY17     FY17
                                                -------------  ------------- ---------- ---------- ---------- --------- -------
Conventional Petroleum unit cost (US$/boe).....     <13             <11           9%      9.87      10.06       16%       8.65
Escondida unit cost (US$/lb)...................   <1.15           <1.15           7%      1.04       1.07       15%       0.93
Western Australia Iron Ore unit cost (US$/t)...     <13             <14          (2%)    13.80      14.26       (2%)     14.60
Queensland Coal unit cost (US$/t)..............     ~57         68 - 72      0% - 6%     65.77      68.04       14%      59.67

(1) 2018 unit costs and guidance for 2019 and medium-term unit costs are based
    on exchange rates of AUD/USD 0.75 and USD/CLP 663.
(2) Average exchange rates for 2018 of AUD/USD 0.78 and USD/CLP 625.

--------------------------------------------------------------------------------
                     BHP Results for the year              3
                     ended 30 June 2018

.   Production and guidance are summarised below:

                                                                            FY18
                                         FY19            FY19e           vs
Production                             guidance         vs FY18   FY18  FY17  FY17
-----------------------------------------------------------------------------------
Continuing operations

Petroleum - Conventional (MMboe)..          113 - 118 (6%) - (2%)   120  (6%)   128
-----------------------------------------------------------------------------------
Copper (kt).......................      1,675 - 1,770  (4%) - 1%  1,753  32%  1,326
  Escondida (kt)..................      1,120 - 1,180 (8%) - (3%) 1,213  57%    772
  Other copper/(1)/ (kt)..........          555 - 590    3% - 9%    540  (3%)   554
-----------------------------------------------------------------------------------
Iron ore/(2)/ (Mt)................          241 - 250    1% - 5%    238   3%    231
  WAIO (100% basis) (Mt)..........          273 - 283   (1%)- 3%    275   3%    268
-----------------------------------------------------------------------------------
Metallurgical coal/(2)/ (Mt)......            43 - 46    1% - 8%     43   7%     40
Energy coal/(2)/ (Mt).............            28 - 29 (4%) - (1%)    29   0%     29
-----------------------------------------------------------------------------------
Discontinued operations

Petroleum - Onshore US (MMboe).... Refer footnote/(3)/               72 (10%)    80
-----------------------------------------------------------------------------------

(1) Other copper comprises Pampa Norte (including Cerro Colorado production for
    the first half of the 2019 financial year), Olympic Dam and Antamina.
(2) Excludes production from Samarco, Haju (IndoMet Coal) and New Mexico Coal.
(3) Given our announcement to divest Onshore US, no annual guidance for the
    2019 financial year for these assets will be provided; however, until
    completion, we expect a production run rate broadly consistent with the
    second half of the 2018 financial year.

.   We achieved Group copper equivalent production growth of eight per cent in
    the 2018 financial year/(vii)/, with record production at WAIO, Queensland
    Coal and Spence.

.   Group copper equivalent production for the 2019 financial year is expected
    to be broadly in line with the 2018 financial year/(vii)/, despite the
    impacts from higher strip ratios at Queensland Coal and New South Wales
    Energy Coal (NSWEC), lower copper grades at Escondida and Spence and natural
    field decline at Conventional Petroleum.

Cash flow and balance sheet

.   Net operating cash flows of US$18.5 billion reflect higher commodity prices
    and a strong operating performance during the year.

.   Free cash flow of US$12.5 billion, which is the second consecutive year
    above US$12 billion.

.   Our balance sheet is strong with net debt at US$10.9 billion at year end
    (2017: US$16.3 billion; 2016: US$26.1 billion), a reduction of more than
    US$15 billion over two years. The reduction of US$5.4 billion in the 2018
    financial year reflects strong free cash generation as well as a favourable
    non-cash fair value adjustment of US$108 million related to interest rate
    and exchange rate movements/(viii)/, partially offset by dividends to
    shareholders of US$5.2 billion and dividends paid to non-controlling
    interests of US$1.6 billion.

.   Gearing ratio/(i)/ of 15.3 per cent (2017: 20.6 per cent; 2016: 30.3 per
    cent).

.   We will maintain a strong balance sheet through the commodity price cycle,
    with net debt in the target range of US$10 to US$15 billion. We expect net
    debt to remain at the lower end of the target range while commodity prices
    are strong.

--------------------------------------------------------------------------------
                     News Release                          4

Dividends

.   The dividend policy provides for a minimum 50 per cent payout of Underlying
    attributable profit at every reporting period. The minimum dividend payment
    for the June 2018 half year period is 46 US cents per share.

.   The Board has determined to pay an additional amount of 17 US cents per
    share or US$0.9 billion, taking the final dividend to a record 63.0 US
    cents per share. This is equivalent to a 69 per cent payout ratio.

.   In total, dividends of US$6.3 billion (118 US cents per share) have been
    determined for the 2018 financial year, including an additional amount of
    US$1.8 billion above the minimum payout policy.

Capital and exploration

.   Capital and exploration expenditure of US$6.8 billion in the 2018 financial
    year was in line with guidance. This included maintenance spend/(ix)/ of
    US$1.9 billion and exploration of US$874 million.

.   Capital and exploration expenditure guidance is unchanged at below US$8
    billion per annum for the 2019 and 2020 financial years, subject to exchange
    rate movements.

.   A US$0.9 billion exploration program is planned for the 2019 financial year
    and includes petroleum exploration and appraisal expenditure of US$750
    million.

.   Historical capital and exploration expenditure and guidance are summarised
    below:

                                                                   2019e   2018    2017
Year ended 30 June                                                 US$B    US$M    US$M
------------------                                                 -----   -----   -----
Maintenance/(1)(2)/...............................................  2.1    1,930   1,219
Development
  Minerals........................................................  4.1    2,494   1,677
  Conventional Petroleum/(2)/.....................................  0.6      555     801
                                                                   ----    -----   -----
Capital expenditure (purchases of property, plant and equipment)..  6.8    4,979   3,697
Add: exploration expenditure......................................  0.9      874     966
                                                                   ----    -----   -----
Capital and exploration expenditure - continuing operations.......  7.7    5,853   4,663
                                                                   ----    -----   -----
Capital and exploration expenditure - discontinued operations.....  0.3      900     557
                                                                   ----    -----   -----
Capital and exploration expenditure - total operations............ <8.0    6,753   5,220
                                                                   ----    -----   -----

(1) Includes capitalised deferred stripping of US$1.0 billion for the 2019
    financial year and US$880 million for the 2018 financial year (2017: US$416
    million).
(2) Conventional Petroleum capital expenditure for the 2019 financial year
    includes US$600 million of development and US$130 million of maintenance.

.   Average annual sustaining capital expenditure guidance over the medium term
    is unchanged and forecast to be approximately:

    .   US$4 per tonne for WAIO, including the capital cost for South Flank;

    .   US$8 per tonne for Queensland Coal; and

    .   US$5 per tonne for NSWEC.

.   At the end of the 2018 financial year, BHP had five major projects under
    development in petroleum, copper, iron ore and potash, with a combined
    budget of US$10.6 billion over the life of the projects.

--------------------------------------------------------------------------------
                     BHP Results for the year              5
                     ended 30 June 2018

Major projects are summarised below:

                                                                                      Capital       Date of
                      Project and                                                 expenditure/(1)/  initial
Commodity              ownership              Project scope / capacity/(1)/            US$M        production  Progress/ comments
------------ --------------------------- ---------------------------------------- ---------------- ---------- --------------------
                                                                                      Budget         Target
-----------------------------------------------------------------------------------------------------------------------------------
Projects in execution at 30 June 2018
-----------------------------------------------------------------------------------------------------------------------------------
Iron Ore     South Flank                 Sustaining iron ore mine to replace            3,061/(2)/       CY21  Project approved on
             (Australia)                 production from the 80 Mtpa Yandi mine.                                      14 June 2018
             85%

-----------------------------------------------------------------------------------------------------------------------------------
Copper       Spence Growth               New 95 ktpd concentrator is expected to             2,460       FY21         14% complete
             Option                      increase Spence's payable copper in                                   Project approved on
             (Chile)                     concentrate production by approximately                                    17 August 2017
             100%                        185 ktpa in the first 10 years of
                                         operation and extend the mining
                                         operations by more than 50 years.
-----------------------------------------------------------------------------------------------------------------------------------
Petroleum    North West Shelf            To maintain LNG plant throughput from                 216       CY19         87% complete
             Greater Western             the North West Shelf operations.                                      Reduction in budget
             Flank-B (Australia)                                                                               of US$98 million as
             16.67%                                                                                              tracking ahead of
             (non-operator)                                                                                               schedule
-----------------------------------------------------------------------------------------------------------------------------------
Petroleum    Mad Dog Phase 2             New floating production facility with               2,154       CY22         23% complete
             (US Gulf of Mexico)         the capacity to produce up to 140,000
             23.9%                       gross barrels of crude oil per day.
             (non-operator)
-----------------------------------------------------------------------------------------------------------------------------------
Other projects in progress at 30 June 2018
-----------------------------------------------------------------------------------------------------------------------------------
Potash/(3)/  Jansen Potash               Investment to finish the excavation and             2,700                    79% complete
             (Canada)                    lining of the production and service                                   Increase in budget
             100%                        shafts, and to continue the installation                             of US$122 million to
                                         of essential surface infrastructure and                                      fund support
                                         utilities.                                                           services at the site
-----------------------------------------------------------------------------------------------------------------------------------

(1) Unless noted otherwise, references to capacity are on a 100 per cent basis,
    references to capital expenditure from subsidiaries are reported on a 100
    per cent basis and references to capital expenditure from joint operations
    reflects BHP's share.
(2) Includes initial funding of US$184 million announced on 26 June 2017.
(3) Potash capital expenditure of approximately US$239 million is expected for
    the 2019 financial year.

Capital Allocation Framework

Adherence to our Capital Allocation Framework aims to balance value creation,
cash returns to shareholders and balance sheet strength in a transparent and
consistent manner.

                                                 2018         2017
Year ended 30 June                               US$B         US$B
------------------                            -----------  -----------
Net operating cash flow - total operations...        18.5         16.8
                                              -----------  -----------
Our priorities for capital...................
  Maintenance capital........................         1.9          1.2
  Strong balance sheet.......................           Y            Y
  Minimum 50% payout ratio dividend..........         3.8          2.0
                                              -----------  -----------
  Excess cash/(1)/...........................        11.8         13.6
                                              -----------  -----------
    Balance sheet............................         5.6          9.4
    Additional dividends.....................         1.4          0.9
    Organic development......................         4.9          4.0
    Acquisitions/(Divestments)...............        (0.1)        (0.7)
                                              -----------  -----------

(1) Includes dividends paid to non-controlling interests of US$1.6 billion for
    the 2018 financial year (2017: US$0.6 billion); excludes exploration
    expenses of US$0.6 billion (2017: US$0.6 billion) which is classified as
    organic development in accordance with the Capital Allocation Framework; net
    cash outflow of US$1.0 billion (2017: nil).

With net debt at US$10.9 billion, currently at the lower end of our target range
of US$10 to US$15 billion, and consistent with our Capital Allocation Framework,
we expect to return the net proceeds from the sale of our Onshore US assets to
shareholders. We will confirm how, and when, at the time of completion of the
sales.

--------------------------------------------------------------------------------
                     News Release                          6

Outlook

Economic outlook

World economic growth strengthened to 3.8 per cent in the 2017 calendar year,
with a notable rebound in global trade. A similar outcome is expected in the
2018 calendar year, although downside risks have increased due to rising trade
protectionism.

We continue to expect China's economic growth to slow modestly in the 2018
calendar year. The official GDP target of around six and a half per cent is
likely to be achieved, assuming the current trends of slowing activity in the
housing and automobile markets, and resilience in infrastructure and machinery,
continue. We expect China's policymakers to continue to seek a balance between
the pursuit of reform and maintenance of macroeconomic and financial stability.
Over the longer term, China's economic growth rate is expected to decelerate as
the working age population falls and the capital stock matures.

Near-term prospects for the US economy are sound, with cyclical fundamentals
solid. However, we expect the increase in protectionism to weigh on consumer
purchasing power and international competitiveness. In Europe and Japan,
business confidence and manufacturing momentum may have peaked early in the 2018
calendar year, although conditions remain healthy, on balance. India's growth is
on a recovery trajectory. Higher oil prices and tighter external financing
conditions are near-term headwinds.

Commodities outlook

Crude oil prices trended higher during the 2018 financial year. Larger than
agreed production cuts by the 'Vienna Group' and strong demand growth both
contributed to a substantial reduction in the inventory overhang. A roughly
balanced market is forecast for the 2018 calendar year. The outlook remains
positive, underpinned by rising demand from the developing world and natural
field decline.

Copper prices rose over the 2018 financial year, with gains in the first half
sustained for most of the second half. Broad-based demand strength and the
threat of supply disruption both contributed to the improvement in prices. The
rise in trade tensions pushed copper prices down early in the 2019 financial
year. Grade decline, increased input costs, water constraints and a scarcity of
high-quality future development opportunities will require attractive prices to
secure sufficient investment to balance the market, with new mine supply
required in the early part of the next decade.

Global steel production saw broad-based growth across the major regions during
the 2018 financial year. Solid downstream demand together with policy-driven
supply cuts in China sent the industry-wide utilisation rate and profitability
higher. China stepped up its efforts to curb air pollution over the winter, with
production restrictions and more stringent emission standards. These
developments have increased customer preferences for high-quality raw materials.
In the long term, the global steel market is expected to continue to grow
modestly, with moderating demand growth in China offset by incremental demand
from India and other populous emerging markets.

The Platts 62% Fe Iron Ore Fines index remained firm in the 2018 financial year,
underpinned by the preference for high-quality iron ore. The price spread
between different grades remained wide, as mills focused on maximising
efficiency through higher grade iron ore. In the short term, supply growth from
seaborne high-quality iron ore suppliers and ample inventories at Chinese ports
(much of which are lower grade) are expected to put a cap on benchmark prices.
We expect quality differentiation to remain an important element in price
formation.

The metallurgical coal price performed strongly in the 2018 financial year, with
healthy demand conditions and relatively tight supply. In the near term, supply
constraints should ease with additional volumes expected from various regions.
The application of China's coal supply side reform, and its environmental
policies, remain a source of uncertainty. Over the longer term, emerging markets
such as India are expected to support seaborne demand growth, while high-quality
metallurgical coals will continue to offer steelmakers value-in-use benefits.

--------------------------------------------------------------------------------
                     BHP Results for the year              7
                     ended 30 June 2018

The potash industry is navigating a period of excess capacity better than
expected. Prices have performed strongly due to record import volumes, with the
Brazilian benchmark moving above US$300 per tonne for the first time since
September 2015 despite the commissioning of several major capacity additions. We
expect annual demand growth of between two and three per cent over the next
decade, resulting in demand outstripping supply by the mid-to-late 2020s.

Further information on BHP's economic and commodity outlook can be found at:
bhp.com/prospects

Unless otherwise noted, information in this section has been presented on a
continuing operations basis to exclude the contribution from Onshore US assets
that are held for sale. The contribution of the Onshore US assets to the Group's
results are disclosed as discontinued operations within the Group's financial
statements.

Income statement

Underlying attributable profit and Underlying EBITDA are presented below.

                                                                                         Combined continuing
                                                                                           and discontinued
                                                                                             operations      Continuing operations
                                                                                          2018       2017       2018       2017
Year ended 30 June                                                                        US$M       US$M       US$M       US$M
------------------                                                                       ------     ------     ------     ------
Underlying EBITDA....................................................................... 24,111     20,296     23,183     19,350
                                                                                         ------     ------     ------     ------
Depreciation and amortisation/(1)/...................................................... (7,942)    (7,719)    (6,288)    (5,972)
Impairments of property, plant and equipment, financial assets and intangibles/(2)/.....   (333)      (188)      (333)      (188)
Exceptional items (before net finance costs and taxation)/(3)/
  - refer to pages 11 and 35............................................................ (3,425)      (636)      (566)      (636)
                                                                                         ------     ------     ------     ------
Profit from operations.................................................................. 12,411     11,753     15,996     12,554
                                                                                         ------     ------     ------     ------
Net finance costs....................................................................... (1,267)    (1,431)    (1,245)    (1,417)
Total taxation expense.................................................................. (6,321)    (4,100)    (7,007)    (4,443)
Exceptional items (after taxation) - refer to pages 11 and 35...........................  5,228      1,006      2,970      1,006
Profit attributable to non-controlling interests........................................ (1,118)      (496)    (1,092)      (483)
                                                                                         ------     ------     ------     ------
Underlying attributable profit..........................................................  8,933      6,732      9,622      7,217
                                                                                         ------     ------     ------     ------
Exceptional items (after taxation) - refer to pages 11 and 35........................... (5,228)    (1,006)    (2,970)    (1,006)
Non-controlling interest in exceptional items...........................................     --        164         --        164
                                                                                         ------     ------     ------     ------
Attributable profit.....................................................................  3,705      5,890      6,652      6,375
                                                                                         ------     ------     ------     ------
Profit attributable to non-controlling interests........................................  1,118        332      1,092        319
                                                                                         ------     ------     ------     ------
Profit/(loss) after taxation from continuing and discontinued operations................  4,823      6,222      7,744      6,694
                                                                                         ------     ------     ------     ------

(1) Depreciation and amortisation for continuing operations excludes exceptional items
of US$ nil million (2017: US$212 million).

(2) Impairments of property, plant and equipment, financial assets and intangibles for 
continuing operations excludes exceptional items of US$nil million (2017: US$5 million).

(3) Exceptional items excludes net finance costs of US$(84) million (2017:
    US$(127) million) related to the Samarco dam failure.

Profit from operations has increased as a result of favourable realised price
movements across most major commodities and higher volumes, partially offset by
higher costs, and higher depreciation at Escondida after a full year of
production following the industrial action in the previous year, the
commissioning of the Escondida Water Supply project in June 2017, and impairment
charges predominantly related to conveyors at Escondida.

--------------------------------------------------------------------------------
                     News Release                          8

Underlying EBITDA

The following table and commentary describes the impact of the principal
factors/(iii)/ that affected Underlying EBITDA for the 2018 financial year
compared with the 2017 financial year:

                                           US$M
                                          ------
Year ended 30 June 2017.................. 19,350
Net price impact:
   Change in sales prices................  4,269  Higher average realised prices for all our major commodities, except iron ore.
   Price-linked costs....................   (124) Increased royalties reflect higher realised prices.
                                          ------
                                           4,145
                                          ------
Change in volumes:
   Productivity..........................  1,024  Release of latent capacity at Escondida (ramp-up of Los Colorados Extension
                                                  project) and WAIO (improved productivity and stability across the supply
                                                  chain), partially offset by lower volumes from Olympic Dam (smelter maintenance
                                                  campaign) and the impact of challenging operating conditions at two Queensland
                                                  Coal mines (Broadmeadow and Blackwater).
   Growth................................   (256) Lower petroleum volumes due to Hurricane Harvey and Hurricane Nate, and
                                                  expected natural field decline.
                                          ------
                                             768
                                          ------
Change in controllable cash costs/(iv)/:
   Operating cash costs.................. (1,114) Higher costs reflect: unfavourable fixed cost dilution at Olympic Dam (smelter
                                                  maintenance campaign) and Conventional Petroleum (natural field decline),
                                                  challenging operating conditions at two Queensland Coal mines (Broadmeadow and
                                                  Blackwater); and a favourable change in estimated recoverable copper in the
                                                  Escondida sulphide leach pad in the prior period, partially offset by lower
                                                  labour and contractor costs at WAIO.
   Exploration and business development..   (129) Increase in planning activity in Mexico and the Scimitar well write-off,
                                                  partially offset by expensing of the Burrokeet and Wildling wells in the prior
                                                  year.
                                          ------
                                          (1,243)
                                          ------
Change in other costs:
   Exchange rates........................   (248) Impact of the stronger Australian dollar and Chilean peso against the US dollar.
   Inflation.............................   (389) Impact of inflation on the Group's cost base.
   Fuel and energy.......................   (224) Predominantly higher diesel prices at minerals assets.
   Non-Cash..............................    425  Higher capitalisation of deferred stripping at Escondida and increased
                                                  underground mine development capitalisation at Olympic Dam as development
                                                  extends into the Southern Mine Area.
   One-off items.........................    719  Reflects the impacts from industrial action at Escondida, power outage at
                                                  Olympic Dam, and Cyclone Debbie at Queensland Coal in the prior year.
                                          ------
                                             283
                                          ------
Asset sales..............................   (142) Reflects divestment of 50 per cent interest in Scarborough in the prior year.
Ceased and sold operations...............      4
Other items..............................     18  Higher average realised prices received by our equity accounted investments and
                                                  higher sales volumes from
                                                  Antamina, offset by the
                                                  revaluation of embedded
                                                  derivative in the Trinidad and
                                                  Tobago gas contract.
                                          ------
Year ended 30 June 2018.................. 23,183
                                          ------

The following table reconciles relevant factors with changes in the Group's
productivity:

Year ended 30 June 2018                                   US$M
-----------------------                                 --------
Change in controllable cash costs...................... (1,243)
Change in volumes attributed to productivity...........  1,024
Change in productivity in Underlying EBITDA............   (219)
Change in capitalised exploration......................    123
                                                        ------
Change attributable to productivity measures...........    (96)
                                                        ------

--------------------------------------------------------------------------------
                     BHP Results for the year              9
                     ended 30 June 2018

Prices and exchange rates

The average realised prices achieved for our major commodities are summarised in
the following table and are presented on a total operations basis:

                                                                               FY18  H2 FY18 H2 FY18
                                                                                vs     vs      vs
Average realised prices/(1)/             H2 FY18   H1 FY18    FY18     FY17    FY17  H2 FY17 H1 FY18
--------------------------------------- --------- --------- -------- -------- ------ ------- -------
Oil (crude and condensate) (US$/bbl)...     67.07     53.76    60.12    47.61   26%    35%     25%
Natural gas (US$/Mscf)/(2)/............      3.71      3.54     3.62     3.34    8%     7%      5%
US natural gas (US$/Mscf)..............      2.77      2.84     2.80     2.88   (3%)   (7%)    (2%)
LNG (US$/Mscf).........................      8.65      7.48     8.07     6.84   18%    17%     16%
Copper (US$/lb)........................      3.05      3.20     3.12     2.54   23%    13%     (5%)
Iron ore (US$/wmt, FOB)................     56.86     56.54    56.71    58.42   (3%)   (8%)     1%
Metallurgical coal (US$/t).............    189.66    164.22   177.22   163.30    9%    16%     15%
Hard coking coal (HCC) (US$/t)/(3)/....    205.80    182.29   194.59   179.83    8%    14%     13%
Weak coking coal (WCC) (US$/t)/(3)/....    143.40    120.99   131.70   121.32    9%    19%     19%
Thermal coal (US$/t)/(4)/..............     86.47     87.49    86.94    74.67   16%    15%     (1%)
Nickel metal (US$/t)...................    13,974    11,083   12,591   10,184   24%    43%     26%

(1) Based on provisional, unaudited estimates. Prices exclude sales from
    Antamina, third party product and internal sales, and represent the weighted
    average of various sales terms (for example: FOB, CIF and CFR), unless
    otherwise noted. Includes the impact of provisional pricing and finalisation
    adjustments.
(2) Includes internal sales.
(3) Hard coking coal (HCC) refers generally to those metallurgical coals with a
    Coke Strength after Reaction (CSR) of 35 and above, which includes coals
    across the spectrum from Premium Coking to Semi Hard Coking coals, while
    weak coking coal (WCC) refers generally to those metallurgical coals with a
    CSR below 35.
(4) Export sales only; excludes Cerrejon. Includes thermal coal sales from
    metallurgical coal mines.

In Copper, the provisional pricing and finalisation adjustments decreased
Underlying EBITDA by US$2 million in the 2018 financial year.

The following exchange rates relative to the US dollar have been applied in the
financial information:
                                     Average      Average
                                    Year ended   Year ended     As at        As at        As at
                                   30 June 2018 30 June 2017 30 June 2018 30 June 2017 30 June 2016
                                   ------------ ------------ ------------ ------------ ------------
Australian dollar/(1)/............     0.78         0.75         0.74         0.77         0.75
Chilean peso......................      625          662          648          663          661

(1) Displayed as US$ to A$1 based on common convention.

Depreciation, amortisation and impairments

Depreciation, amortisation and impairments increased by US$461 million to US$6.6
billion, reflecting higher depreciation at Escondida after a full year of
production following the industrial action in the previous year, the
commissioning of the Escondida Water Supply project in June 2017, and impairment
charges predominantly related to conveyors at Escondida.

Net finance costs

Net finance costs decreased by US$172 million to US$1.2 billion mainly due to a
lower average debt balance following the bond repurchase program and repayment
on maturity of Group debt. This was partially offset by higher benchmark
interest rates in the period as well as costs related to September 2017 bond
repurchase.

--------------------------------------------------------------------------------
                     News Release                          10

Taxation expense

                                            2018                             2017
                              -------------------------------- --------------------------------
                                  Profit        Income             Profit        Income
                              before taxation tax expense      before taxation tax expense
Year ended 30 June                 US$M          US$M      %        US$M          US$M      %
------------------            --------------- ----------- ---- --------------- ----------- ----
Statutory effective tax rate      14,751        (7,007)   47.5     11,137        (4,443)   39.9
Adjusted for:
Exchange rate movements......         --          (152)                --            88
Exceptional items/(1)/.......        650         2,320                763           243
                                  ------        ------    ----     ------        ------    ----
Adjusted effective tax rate..     15,401        (4,839)   31.4     11,900        (4,112)   34.6
                                  ------        ------    ----     ------        ------    ----

(1) Refer exceptional items below for further details.

The Group's adjusted effective tax rate/(iii)/, which excludes the influence of
exchange rate movements and exceptional items, was 31.4 per cent (2017: 34.6 per
cent). The decrease in the 2018 financial year was largely due to the resolution
of matters with tax authorities and other tax items compared to the prior year.
The adjusted effective tax rate is expected to be in the range of 30 to 35 per
cent for the 2019 financial year.

Other royalty and excise arrangements which are not profit based are recognised
as operating costs within Profit before taxation. These amounted to US$2.2
billion during the period (2017: US$2.0 billion).

Exceptional items

The following table sets out the exceptional items for the 2018 financial year.
Additional commentary is included on page 35.

                                                          Gross   Tax     Net
Year ended 30 June 2018                                   US$M    US$M    US$M
-----------------------                                  ------- ------ --------
Exceptional items by category
Samarco dam failure/(1)/................................  (650)     --     (650)
US tax reform/(2)/......................................    --  (2,320)  (2,320)
                                                          ----   ------  ------
Total...................................................  (650) (2,320)  (2,970)
                                                          ----   ------  ------
Attributable to non-controlling interests...............    --      --       --
Attributable to BHP shareholders........................  (650) (2,320)  (2,970)
                                                          ----   ------  ------

(1) Financial impact of US$(650) million from the Samarco dam failure relates to
    US$(80) million share of loss from US$(80) million funding provided during
    the period, US$(57) million direct costs incurred by BHP Billiton Brasil
    Ltda and other BHP entities, US$(84) million amortisation of discounting
    impacting net finance costs, US$(560) million change in estimate and US$131
    million exchange translation. Refer to note 1 Exceptional items and note 8
    Significant events - Samarco dam failure of the Financial Report for further
    information.
(2) Financial impact of US$(2,320) million from US tax reform relates to
    US$(1,390) million re-measurement of the Group's deferred tax position as a
    result of the reduced US corporate income tax rate, US$(834) million
    impairment of foreign tax credits due to reduced forecast utilisation,
    US$(194) million net impact of tax charges on the deemed repatriation of
    accumulated earnings of non-US subsidiaries, US$95 million recognition of
    Alternative Minimum Tax Credits and US$3 million other impacts. Refer to
    note 1 Exceptional items and note 4 Income tax expense of the Financial
    Report for further information.

Discontinued operations

On 27 July 2018 BHP announced it had entered into agreements for the sale of its
entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville
Onshore US oil and gas assets for a combined base consideration of US$10.8
billion, payable in cash.

The Onshore US contribution to the Group 2018 financial year results comprised a
US$2,921 million loss after taxation from discontinued operations, including
exceptional items.

The following table sets out the exceptional items related to Onshore US for the
2018 financial year. Refer to note 9 Discontinued operations of the Financial
Report for further information.

                                                          Gross   Tax     Net
Year ended 30 June 2018                                   US$M    US$M    US$M
-----------------------                                  ------- ------ --------
Exceptional items by category
US tax reform...........................................     --    492      492
Impairment of Onshore US assets......................... (2,859)   109   (2,750)
                                                         ------    ---   ------
Total................................................... (2,859)   601   (2,258)
                                                         ------    ---   ------
Attributable to non-controlling interests...............     --     --      --
Attributable to BHP shareholders........................ (2,859)   601  (2,258)
                                                         ------    ---  ------

--------------------------------------------------------------------------------
                     BHP Results for the year              11
                     ended 30 June 2018

Debt management and liquidity

During the 2018 financial year, the Group continued to focus on debt reduction,
with no new debt issued and an A$1.0 billion Australian bond repaid at maturity.
In addition, a bond repurchase program of US$2.9 billion was completed on 22
September 2017. The total cost in relation to the repurchase program was US$71
million, which has been reported in net finance costs. The program was funded by
BHP's strong cash position and targeted short-dated US dollar, Euro and GBP
bonds. The early repayment of the bonds has extended BHP's average debt maturity
profile. The repayment of maturing debt, the bond repurchase program and fair
value adjustments contributed to a US$3.7 billion overall decrease in the
Group's gross debt, from US$30.5 billion at 30 June 2017 to US$26.8 billion at
30 June 2018.

At the subsidiary level, Escondida issued US$0.5 billion of new long-term debt
to fund capital expenditure and for general corporate purposes.

The Group has a US$6.0 billion commercial paper program backed by a US$6.0
billion revolving credit facility which expires in May 2021. As at 30 June 2018,
the Group had no outstanding US commercial paper, no drawn amount under the
revolving credit facility and US$15.9 billion in cash and cash equivalents.

Dividend

Our Board today determined to pay a final dividend of 63 US cents per share.
The final dividend to be paid by BHP Billiton Limited will be fully franked for
Australian taxation purposes.

BHP's Dividend Reinvestment Plan (DRP) will operate in respect of the final
dividend. Full terms and conditions of the DRP and details about how to
participate can be found at bhp.com.

Events in respect of the final dividend                                                                           Date
---------------------------------------                                                                     -----------------
Currency conversion into rand..............................................................................    31 August 2018
Last day to trade cum dividend on Johannesburg Stock Exchange Limited (JSE)................................  4 September 2018
Ex-dividend Date JSE.......................................................................................  5 September 2018
Ex-dividend Date Australian Securities Exchange (ASX), London Stock Exchange (LSE) and New York Stock
  Exchange (NYSE)..........................................................................................  6 September 2018
Record Date................................................................................................  7 September 2018
Dividend Reinvestment Election date (including currency conversion and currency election dates for ASX and
  LSE)..................................................................................................... 10 September 2018
Payment Date............................................................................................... 25 September 2018

BHP Billiton Plc shareholders registered on the South African section of the
register will not be able to dematerialise or rematerialise their shareholdings
between the dates of 5 September and 7 September 2018 (inclusive), nor will
transfers between the UK register and the South African register be permitted
between the dates of 31 August and 7 September 2018 (inclusive). American
Depositary Shares (ADSs) each represent two fully paid ordinary shares and
receive dividends accordingly. Details of the currency exchange rates applicable
for the dividend will be announced to the relevant stock exchanges following
conversion and will appear on the Group's website.

Any eligible shareholder who wishes to participate in the DRP, or to vary a
participation election should do so in accordance with the timetable set out
above, or, in the case of shareholdings on the South African branch register of
BHP Billiton Plc, in accordance with the instructions of your Central Securities
Depository Participant (CSDP) or broker. The DRP allocation price will be
calculated in each jurisdiction as an average of the price paid for each share
actually purchased to satisfy DRP elections. The allocation price applicable to
each exchange will made available at bhp.com/DRP.

--------------------------------------------------------------------------------
                     News Release                          12

Segment summary/(1)/

A summary of performance for the 2018 and 2017 financial years is presented
below and excludes Onshore US.

Year ended                                                                         Net
30 June 2018                                 Underlying  Underlying Exceptional  operating    Capital   Exploration  Exploration
US$M                            Revenue/(2)/ EBITDA/(3)/ EBIT/(3)/  items/(4)/  assets/(3)/ expenditure gross/(5)/  to profit/(6)/
------------------------------- ------------ ----------- ---------- ----------- ----------- ----------- ----------- --------------
Petroleum......................     5,408        3,341       1,546        --        8,052         656        709           592
Copper.........................    13,287        6,522       4,389        --       23,679       2,428         53            53
Iron Ore.......................    14,810        8,930       7,195      (539)      18,320       1,074         84            44
Coal...........................     8,889        4,397       3,682        --        9,853         409         21            21
Group and unallocated
 items/(7)/....................     1,332           (7)       (250)      (27)       2,789         412          7             7
Inter-segment adjustment/(8)/..       (88)          --          --        --           --          --         --            --
                                   ------       ------      ------      ----       ------       -----        ---           ---
Total Group....................    43,638       23,183      16,562      (566)      62,693       4,979        874           717
                                   ------       ------      ------      ----       ------       -----        ---           ---

Year ended
30 June 2017                                                                       Net
(Restated)                                   Underlying  Underlying Exceptional  operating    Capital   Exploration  Exploration
US$M                            Revenue/(2)/ EBITDA/(3)/ EBIT/(3)/     items    assets/(3)/ expenditure gross/(5)/  to profit/(6)/
------------------------------- ------------ ----------- ---------- ----------- ----------- ----------- ----------- --------------
Petroleum......................     4,722        3,117       1,367        --        9,011         917        803           573
Copper.........................     8,335        3,545       2,006      (546)      24,100       1,484         44            44
Iron Ore.......................    14,624        9,077       7,197      (203)      19,175         805         94            70
Coal...........................     7,578        3,784       3,050       164       10,136         246          9             9
Group and unallocated
 items/(7)/....................       977         (173)       (430)      (51)       2,446         245         16            16
Inter-segment adjustment/(8)/..      (101)          --          --        --           --          --         --            --
                                   ------       ------      ------      ----       ------       -----        ---           ---
Total Group....................    36,135       19,350      13,190      (636)      64,868       3,697        966           712
                                   ------       ------      ------      ----       ------       -----        ---           ---

(1) Group and segment level information is reported on a statutory basis which,
    in relation to Underlying EBITDA, includes depreciation, amortisation and
    impairments, net finance costs and taxation expense of US$618 million (2017:
    US$540 million) related to equity accounted investments. It excludes
    exceptional items of US$509 million (2017: US$172 million) related to share
    of loss from equity accounted investments.

    Group profit before taxation comprised Underlying EBITDA and exceptional
    items and depreciation, amortisation and impairments of US$7,187 million
    (2017: US$6,796 million) and net finance costs of US$1,245 million (2017:
    US$1,417 million).

(2) Revenue is based on Group realised prices and includes third party products.
    Sale of third party products by the Group contributed revenue of US$1,514
    million and Underlying EBITDA of US$62 million (2017: US$1,200 million and
    US$49 million).
(3) We use various alternate performance measures to reflect our underlying
    performance. Refer to page 8 for a reconciliation of Underlying EBITDA to
    our statutory results and page 24 for the definitions and calculation
    methodology of alternate performance measures used in reporting our
    performance.
(4) Exceptional items of US$(566) million excludes net finance costs of US$(84)
    million included in the total US$(650) million related to the Samarco dam
    failure. Refer to note 1 Exceptional items for further information.
(5) Includes US$233 million capitalised exploration (2017: US$356 million).
(6) Includes US$76 million of exploration expenditure previously capitalised,
    written off as impaired (included in depreciation and amortisation) (2017:
    US$102 million).
(7) Group and unallocated items includes Functions, other unallocated operations
    including Potash, Nickel West and consolidation adjustments. Revenue not
    attributable to reportable segments comprises the sale of freight and fuel
    to third parties. Exploration and technology activities are recognised
    within the relevant segments.

Year ended
30 June 2018                                          Underlying     Underlying Net operating   Capital   Exploration Exploration
US$M                                          Revenue   EBITDA   D&A    EBIT       assets     expenditure    gross     to profit
--------------------------------------------  ------- ---------- --- ---------- ------------- ----------- ----------- -----------
Potash.......................................     --     (135)    4     (139)       3,425         205         --          --
Nickel West..................................  1,300      291    76      215         (267)        129          7           7

Year ended
30 June 2017                                          Underlying     Underlying Net operating   Capital   Exploration Exploration
US$M                                          Revenue   EBITDA   D&A    EBIT       assets     expenditure    gross     to profit
--------------------------------------------  ------- ---------- --- ---------- ------------- ----------- ----------- -----------
Potash.......................................     --     (108)   10     (118)       3,094         162         --          --
Nickel West..................................    952       44    87      (43)        (337)         56         16          16

(8) Comprises revenue of US$75 million generated by Petroleum (2017: US$83
    million) and US$13 million generated by Iron Ore (2017: US$18 million).

--------------------------------------------------------------------------------
                     BHP Results for the year              13
                     ended 30 June 2018

Petroleum

Underlying EBITDA for Petroleum excluding Onshore US, increased by US$224
million to US$3.3 billion in the 2018 financial year.

                                                              US$M
                                                             ------
Underlying EBITDA for the year ended 30 June 2017........... 3,117
Net price impact/(1)/.......................................   975
Change in volumes: growth...................................  (256)
Change in controllable cash costs...........................  (164)
Profit on sale of assets/(2)/...............................  (142)
Other/(3)/..................................................  (189)
                                                             -----
Underlying EBITDA for the year ended 30 June 2018........... 3,341
                                                             -----

(1) Average realised price: crude and condensate oil US$60.57/bbl (2017:
    US$47.48/bbl); natural gas US$4.44/Mscf (2017: US$3.87/Mscf); LNG
    US$8.07/Mscf (2017: US$6.84/Mscf).
(2) Profit on sale of assets reflects the sale of 50 per cent of BHP's interest
    in the undeveloped Scarborough area gas fields in the prior year.
(3) Other includes: exchange rate; inflation; ceased and sold operations; other
    items. Other items includes the impact from revaluation of embedded
    derivatives in Trinidad and Tobago gas contract of US$153 million loss for
    the 2018 financial year (2017: US$37 million loss).

Conventional Petroleum production for the 2018 financial year declined by six
per cent to 120 MMboe due to the impact of Hurricanes Harvey and Nate on US
petroleum assets and natural field decline.

Controllable cash costs increased by US$164 million and include:

.  US$100 million - unfavourable fixed cost dilution from declining volumes; and

.  US$64 million - higher exploration expenses due to expensing the Scimitar
   well (including side-track) and increased planning activities in Mexico,
   partially offset by the impact of wells expensed in the prior year.

Conventional Petroleum unit costs increased by 16 per cent to US$10.06 per
barrel of oil equivalent due to the impact of lower volumes. Unit cost guidance
for the 2019 financial year is expected to be less than US$11 per barrel (based
on an exchange rate of AUD/USD 0.75) reflecting the impact of lower volumes,
partially offset by productivity improvements.

Conventional Petroleum unit costs/(1)/ (US$M)      H2 FY18 H1 FY18 FY18   FY17
-------------------------------------------------- ------- ------- ----- -----
Revenue...........................................  2,827   2,581  5,408 4,722
Underlying EBITDA.................................  1,771   1,622  3,393 3,133
Gross costs.......................................  1,056     959  2,015 1,589
Less: exploration expense/(2)/....................    379     137    516   471
Less: freight.....................................     84      68    152   140
Less: development and evaluation..................     21      13     34    22
Less: other/(3)/..................................     16      90    106  (151)
Net costs.........................................    556     651  1,207 1,107
Production (MMboe, equity share)..................     56      64    120   128
                                                    -----   -----  ----- -----
Cost per boe (US$)/(4)(5)/........................   9.93   10.17  10.06  8.65
                                                    -----   -----  ----- -----

(1) Conventional Petroleum assets exclude divisional activities reported in
    Other and closed mining and smelting operations in Canada and the United
    States.
(2) Exploration expense represents conventional Petroleum's share of total
    exploration expense.
(3) Other includes non-cash profit on sales of assets, inventory movements,
    foreign exchange and the impact from revaluation of embedded derivatives in
    the Trinidad and Tobago gas contract.
(4) FY17 restated to exclude development and evaluation as these costs do not
    represent our cost performance in relation to current production.
(5) FY18 based on an exchange rate of AUD/USD 0.78.

Petroleum exploration

Petroleum exploration expenditure for the 2018 financial year was US$709
million, of which US$516 million was expensed. A US$750 million exploration and
appraisal program is planned for the 2019 financial year. This program includes
two wells in Trinidad and Tobago, one appraisal well at Trion in Mexico and one
appraisal well in the Wildling basin in the US Gulf of Mexico.

In the US Gulf of Mexico, we discovered oil in multiple horizons at the
Wildling-2 well and side track to the north of the operated Shenzi field. We
acquired 50 per cent equity interest in the Murphy operated Samurai prospect
(GC432 and GC476), the northern extension of the Wildling sub basin. The
Samurai-2 exploration well was spud

--------------------------------------------------------------------------------
                     News Release                          14

on 16 April 2018 and encountered hydrocarbons in multiple horizons not
previously observed by the Wildling-2 exploration well. The Scimitar prospect,
to the north of the Neptune field, was drilled and no commercial hydrocarbons
were encountered.

In Trinidad and Tobago, following the gas discovery at LeClerc, we commenced
Phase 2 of our deepwater exploration drilling campaign to further assess the
commercial potential of the Magellan play. The Victoria-1 exploration well was
spud on 12 June 2018 and encountered gas. The well was plugged and abandoned on
18 July 2018. We plan to drill the Concepcion prospect to further test the
Magellan play in the 2019 financial year. Following completion of the Victoria-1
well, the Deepwater Invictus has been mobilised to the Bongos prospect in our
Northern licence area in Trinidad and Tobago. The Bongos-1 exploration well was
spud on 20 July 2018 and experienced mechanical difficulty shortly after spud.
The Bongos-2 exploration well was spud on 22 July 2018 and encountered
hydrocarbons. Drilling is still in progress.

In Mexico, we expect to begin drilling the first appraisal well at Trion in the
December 2018 quarter.

Onshore US - Discontinued operations

Onshore US delivered a strong operating performance in the 2018 financial year,
with total production of 72 MMboe, exceeding our full year guidance of between
61 and 67 MMboe as a result of improved well performance from larger completions
and longer laterals. Drilling and development expenditure for the 2018 financial
year was US$0.9 billion, a reduction of US$0.2 billion relative to guidance
reflecting better well performance, and lower drilling and completions activity
which was tailored to support value in the exit process.

This strong performance positioned these assets well for divestment and on 27
July 2018, BHP announced it had entered into agreements for the sale of its
entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville
Onshore US oil and gas assets for a combined base consideration of US$10.8
billion, payable in cash. BP America Production Company, a wholly owned
subsidiary of BP Plc, has agreed to acquire 100 per cent of the issued share
capital of Petrohawk Energy Corporation, the BHP subsidiary which holds the
Eagle Ford, Haynesville and Permian assets, for a consideration of US$10.5
billion. MMGJ Hugoton III, LLC, a company owned by Merit Energy Company, has
agreed to acquire 100 per cent of the issued share capital of BHP Billiton
Petroleum (Arkansas) Inc. and 100 per cent of the membership interests in BHP
Billiton Petroleum (Fayetteville) LLC, which hold the Fayetteville assets, for a
total consideration of US$0.3 billion. Both sales are subject to the
satisfaction of customary regulatory approvals and conditions precedent.

Until completion of the transactions, expected by the end of October 2018, we
intend to operate five rigs in Onshore US and incur capital expenditure at an
annualised rate broadly consistent with the 2018 financial year.

Onshore US assets have been classified as held for sale and are disclosed as
discontinued operations. Refer to note 9 Discontinued operations of the
Financial Report for further information.

--------------------------------------------------------------------------------
                     BHP Results for the year              15
                     ended 30 June 2018

Financial information for Petroleum for the 2018 and 2017 financial years is
presented below excluding Onshore US.

Year ended                                                                      Net
30 June 2018                                     Underlying       Underlying operating   Capital   Exploration  Exploration
US$M                                Revenue/(1)/   EBITDA    D&A     EBIT     assets   expenditure gross/(2)/  to profit/(3)/
------------                       ------------- ---------- ----- ---------- --------- ----------- ----------- --------------
Australia Production Unit/(4)/....       568          422     247     175        740        --
Bass Strait.......................     1,285          948     494     454      2,504        29
North West Shelf..................     1,400        1,058     230     828      1,574       167
Atlantis..........................       833          666     332     334      1,307       159
Shenzi............................       576          470     193     277        743        32
Mad Dog...........................       229          160      50     110        947       189
Trinidad/Tobago...................       161          (53)     38     (91)       256        16
Algeria...........................       234          186      28     158         37         6
Exploration.......................        --         (516)    127    (643)       953        --
Other/(5)/........................       126           54      59      (5)      (142)       58
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum from Group
 production.......................     5,412        3,395   1,798   1,597      8,919       656         709          592
                                       -----        -----   -----   -----      -----       ---         ---          ---
Closed mines/(6)/.................        --          (52)     --     (52)      (867)       --          --           --
Third party products..............        12            1      --       1         --        --          --           --
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum...................     5,424        3,344   1,798   1,546      8,052       656         709          592
                                       -----        -----   -----   -----      -----       ---         ---          ---
Adjustment for equity accounted
 investments/(7)/.................       (16)          (3)     (3)     --         --        --          --           --
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum statutory result..     5,408        3,341   1,795   1,546      8,052       656         709          592
                                       -----        -----   -----   -----      -----       ---         ---          ---

Year ended
30 June 2017                                                                    Net
(Restated)                                       Underlying       Underlying operating   Capital   Exploration  Exploration
US$M                                Revenue/(1)/    EBITDA   D&A     EBIT     assets   expenditure gross/(2)/  to profit/(3)/
------------                        ------------ ---------- ----- ---------- --------- ----------- ----------- --------------
Australia Production Unit/(4)/....       601          451     275     176        924        15
Bass Strait.......................     1,096          824     261     563      2,981       154
North West Shelf..................     1,190        1,013     199     814      1,630       209
Atlantis..........................       677          551     471      80      1,486       174
Shenzi............................       509          402     204     198        956        37
Mad Dog...........................       202          155      57      98        722       113
Trinidad/Tobago...................       110           26      33      (7)       422        81
Algeria...........................       212          167      34     133         22        13
Exploration.......................        --         (471)    157    (628)       892        --
Other/(5)/........................       133           15      62     (47)      (181)      121
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum from Group
 production.......................     4,730        3,133   1,753   1,380      9,854       917         803          573
                                       -----        -----   -----   -----      -----       ---         ---          ---
Closed mines/(6)/.................        --          (16)     --     (16)      (843)       --          --           --
Third party products..............         9            3      --       3         --        --          --           --
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum...................     4,739        3,120   1,753   1,367      9,011       917         803          573
                                       -----        -----   -----   -----      -----       ---         ---          ---
Adjustment for equity accounted
 investments/(7)/.................       (17)          (3)     (3)     --         --        --          --           --
                                       -----        -----   -----   -----      -----       ---         ---          ---
Total Petroleum statutory result..     4,722        3,117   1,750   1,367      9,011       917         803          573
                                       -----        -----   -----   -----      -----       ---         ---          ---

(1) Total Petroleum statutory result Revenue includes: crude oil
    US$2,933 million (2017: US$2,528 million), natural gas US$1,124 million
    (2017: US$1,029 million), LNG US$920 million (2017: US$858 million), NGL
    US$294 million (2017: US$265 million) and other US$137 million which
    includes third party products (2017: US$42 million).
(2) Includes US$193 million of capitalised exploration (2017: US$332 million).
(3) Includes US$76 million of exploration expenditure previously capitalised,
    written off as impaired (included in depreciation and amortisation) (2017:
    US$102 million).
(4) Australia Production Unit includes Macedon, Pyrenees and Minerva.
(5) Predominantly divisional activities, business development, UK, Neptune and
    Genesis. Also includes the Caesar oil pipeline and the Cleopatra gas
    pipeline, which are equity accounted investments. The financial information
    for the Caesar oil pipeline and the Cleopatra gas pipeline presented above,
    with the exception of net operating assets, reflects BHP's share.
(6) Comprises closed mining and smelting operations in Canada and the United
    States. Petroleum manages the closed mines due to their geographic location.
(7) Total Petroleum statutory result Revenue excludes US$16 million (2017:
    US$17 million) revenue related to the Caesar oil pipeline and the Cleopatra
    gas pipeline. Total Petroleum statutory result Underlying EBITDA includes
    US$3 million (2017: US$3 million) D&A related to the Caesar oil pipeline
    and the Cleopatra gas pipeline.

--------------------------------------------------------------------------------
                     News Release                          16

Copper

Underlying EBITDA for the 2018 financial year increased by US$3.0 billion to
US$6.5 billion.

                                                                        US$M
                                                                       -----
Underlying EBITDA for the year ended 30 June 2017..................... 3,545
Net price impact/(1)/................................................. 2,302
Change in volumes: productivity.......................................   959
Change in controllable cash costs.....................................  (924)
Change in other costs:
   Exchange rates.....................................................  (156)
   Inflation..........................................................  (166)
   Non-cash/(2)/......................................................   417
   One-off items/(3)/.................................................   492
Other/(4)/............................................................    53
                                                                       -----
Underlying EBITDA for the year ended 30 June 2018                      6,522
                                                                       -----

(1) Average realised price: copper US$3.12/lb (2017: US$2.54/lb).
(2) Non-cash includes: development stripping capitalisation and depletion.
(3) One-off items reflects lost volumes from the 44 days of industrial action
    at Escondida (US$387 million) and the state-wide power outage and resultant
    shutdown at Olympic Dam (US$105 million) in the 2017 financial year.
(4) Other includes: fuel and energy; other items (including profit from equity
    accounted investments).

Copper production for the 2018 financial year increased by 32 per cent to
1,753 kt largely due to a full year of production at Escondida following the
industrial action in the previous year, supported by the ramp-up of the Los
Colorados Extension (LCE) project and record production at Spence. This more
than offset reduced volumes at Olympic Dam as a result of the planned smelter
maintenance campaign. 

We are currently experiencing an outage at the Olympic
Dam acid plant following the failure of several boiler tubes and the impact is
being assessed. Remediation and mitigation activities are underway, and
underground mining operations continue as normal.

Controllable cash costs increased by US$924 million and include:

.   US$288 million - a change in estimated recoverable copper contained in the
    Escondida sulphide leach pad which benefited costs in the prior period;

.   US$176 million - increased labour and contractor costs at Olympic Dam, to
    support operating stability projects and expansion plans;

.   US$126 million - planned drawdown of mined ore inventory at Escondida ahead
    of LCE commissioning; and

.   US$89 million - unfavourable fixed cost dilution at Olympic Dam as a result
    of lower volumes due to the smelter maintenance campaign, partially offset
    by a build of run-of-mine (ROM) and anode stock.

Non-cash costs (including development stripping) decreased by US$417 million as
a result of:

.   increased waste movement at Escondida and Pampa Norte reflected in higher
    capitalised stripping; and

.   increased underground mine capitalisation at Olympic Dam as mining expands
    into the Southern Mine Area.

Unit costs at our operated copper assets increased by nine per cent to US$1.25
per pound during the 2018 financial year and included a 15 per cent increase at
Escondida to US$1.07 per pound. Unfavourable exchange rate movements and
general inflation also impacted unit costs in the current year.

Escondida unit cost guidance for the 2019 financial year is expected to
increase to less than US$1.15 per pound (based on an exchange rate of
USD/CLP 663), reflecting the inclusion of costs to settle labour negotiations.
A decrease in average concentrator head grade of more than 15 per cent,
consistent with the mine plan, and an increase in the usage of higher cost
desalinated water is forecast to be offset by improved labour productivity and
maintenance optimisation strategies. A lower mining cost per tonne of material
moved is expected as continued improvements in truck runtime, labour
productivity and targeted maintenance supports higher throughput from three
concentrators.

--------------------------------------------------------------------------------
                     BHP Results for the year              17
                     ended 30 June 2018

Escondida (US$M)                                    H2 FY18   H1 FY18    FY18    FY17
----------------                                   --------- --------- ------- -------
Revenue...........................................   4,452     4,322    8,774    4,544
Underlying EBITDA.................................   2,403     2,518    4,921    2,397
Gross costs.......................................   2,049     1,804    3,853    2,147
Less: by-product credits..........................     251       196      447      213
Less: freight.....................................      73        50      123       60
Less: treatment and refining charges..............     218       210      428      302
Net costs.........................................   1,507     1,348    2,855    1,572
Sales (kt, equity share)..........................     631       578    1,209      767
Sales (Mlb, equity share).........................   1,391     1,273    2,664    1,691
Cost per pound (US$)/(1)/.........................    1.08      1.06     1.07     0.93

(1) FY18 based on exchange rates of AUD/USD 0.78 and USD/CLP 625.

During the June 2018 quarter, BHP successfully completed the negotiations with
Spence Union N/o/1 (operators and maintenance) and Cerro Colorado Union N/o/2
(supervisors and staff) with the new agreements effective from 1 June 2018 and
1 July 2018 respectively, each valid for 36 months. On 17 August 2018, Escondida
successfully completed negotiations with Union N/o/1 and signed a new collective 
agreement effective for 36 months from 1 August 2018.

On 19 June 2018, BHP entered into an agreement to sell Cerro Colorado to EMR
Capital/(x)/. The transaction is expected to close during the December 2018
quarter, subject to financing and customary closing conditions.

Financial information for Copper for the 2018 and 2017 financial years is
presented below.

Year ended                                                                   Net
30 June 2018                                 Underlying        Underlying operating   Capital   Exploration  Exploration
US$M                                 Revenue   EBITDA    D&A      EBIT     assets   expenditure    gross      to profit
------------                         ------- ---------- -----  ---------- --------- ----------- -----------  -----------
Escondida/(1)/......................  8,774     4,921   1,601     3,320     13,666        997
Pampa Norte/(2)/....................  1,831       924     298       626      1,967        757
Antamina/(3)/.......................  1,438       955     111       844      1,313        183
Olympic Dam.........................  1,255       267     228        39      6,937        669
Other/(3)(4)/.......................     --      (193)      8      (201)      (204)         5
                                     ------     -----   -----     -----     ------      -----
Total Copper from Group production.. 13,298     6,874   2,246     4,628     23,679      2,611
                                     ------     -----   -----     -----     ------      -----
Third party products................  1,427        60      --        60         --         --
                                     ------     -----   -----     -----     ------      -----        ---          ---
Total Copper........................ 14,725     6,934   2,246     4,688     23,679      2,611         53           53
                                     ------     -----   -----     -----     ------      -----        ---          ---
Adjustment for equity accounted
 investments/(5)/................... (1,438)     (412)   (113)     (299)        --       (183)        --           --
                                     ------     -----   -----     -----     ------      -----        ---          ---
Total Copper statutory result....... 13,287     6,522   2,133     4,389     23,679      2,428         53           53
                                     ------     -----   -----     -----     ------      -----        ---          ---

Year ended                                                                   Net
30 June 2017                                 Underlying        Underlying operating   Capital   Exploration  Exploration
US$M                                 Revenue   EBITDA    D&A      EBIT     assets   expenditure    gross      to profit
------------                         ------- ---------- -----  ---------- --------- ----------- -----------  -----------
Escondida/(1)/......................  4,544     2,397     996     1,401     14,972        999
Pampa Norte/(2)/....................  1,401       620     314       306      1,662        213
Antamina/(3)/.......................  1,119       664     114       550      1,265        188
Olympic Dam.........................  1,287       284     224        60      6,367        267
Other/(3)(4)/.......................     --      (118)      7      (125)      (166)         5
                                     ------     -----   -----     -----     ------      -----
Total Copper from Group production..  8,351     3,847   1,655     2,192     24,100      1,672
                                     ------     -----   -----     -----     ------      -----
Third party products................  1,103        23      --        23         --         --
                                     ------     -----   -----     -----     ------      -----        ---          ---
Total Copper........................  9,454     3,870   1,655     2,215     24,100      1,672         44           44
                                     ------     -----   -----     -----     ------      -----        ---          ---
Adjustment for equity accounted
 investments/(5)/................... (1,119)     (325)   (116)     (209)        --       (188)        --           --
                                     ------     -----   -----     -----     ------      -----        ---          ---
Total Copper statutory result.......  8,335     3,545   1,539     2,006     24,100      1,484         44           44
                                     ------     -----   -----     -----     ------      -----        ---          ---

(1) Escondida is consolidated under IFRS 10 and reported on a 100 per cent
    basis.
(2) Includes Spence and Cerro Colorado.
(3) Antamina and Resolution are equity accounted investments and their
    financial information presented above, with the exception of net operating
    assets, reflects BHP's share.
(4) Predominantly comprises divisional activities, greenfield exploration and
    business development. Includes Resolution.
(5) Total Copper statutory result Revenue excludes US$1,438 million (2017:
    US$1,119 million) revenue related to Antamina. Total Copper statutory
    result Underlying EBITDA includes US$113 million (2017: US$116 million) D&A
    and US$299 million (2017: US$209 million) net

--------------------------------------------------------------------------------
                     News Release                          18

    finance costs and taxation expense related to Antamina and Resolution that
    are also included in Underlying EBIT. Total Copper statutory result Capital
    expenditure excludes US$183 million (2017: US$188 million) related to
    Antamina.

Iron Ore

Underlying EBITDA for the 2018 financial year decreased by US$147 million to
US$8.9 billion.

                                                                        US$M
                                                                       -----
Underlying EBITDA for the year ended 30 June 2017..................... 9,077
Net price impact/(1)/.................................................  (432)
Change in volumes: productivity.......................................   293
Change in controllable cash costs.....................................   275
Change in other costs:
   Exchange rates.....................................................   (14)
   Inflation..........................................................   (87)
Other/(2)/............................................................  (182)
                                                                       -----
Underlying EBITDA for the year ended 30 June 2018..................... 8,930
                                                                       -----

(1) Average realised price: iron ore US$56.71/wmt, FOB (2017: US$58.42/wmt,
    FOB).
(2) Other includes: fuel and energy; non-cash and other items.

Iron ore production for the 2018 financial year increased by three per cent to
a record 238 Mt/(Xi)/ as a result of improved productivity and stability across
the supply chain, and production records at Jimblebar and Mining Area C.

Controllable cash costs decreased by US$275 million reflecting continued
reductions in labour and maintenance costs through improved equipment
productivity and maintenance strategies.

WAIO unit costs declined by two per cent to US$14.26 per tonne (or US$13.03 per
tonne on a C1 basis excluding third party royalties/(2)/) despite the impact of
a stronger Australian dollar. In local currency terms, WAIO unit costs declined
by five per cent.

Unit cost guidance for the 2019 financial year remains broadly unchanged at
less than US$14 per tonne (based on an exchange rate of AUD/USD 0.75). A
program of work to optimise maintenance schedules across our supply chain and
improve port reliability and performance is planned for the September 2018
quarter and is expected to negatively impact unit costs in this period. In the
medium term, we expect to lower our unit costs to less than US$13 per tonne.

WAIO unit costs (US$M)                                                     H2 FY18  H1 FY18  FY2018   FY2017
----------------------                                                     -------  -------  -------  -------
Revenue...................................................................   7,479    7,117   14,596   14,395
Underlying EBITDA.........................................................   4,604    4,265    8,869    9,001
Gross costs...............................................................   2,875    2,852    5,727    5,394
Less: freight.............................................................     650      626    1,276      983
Less: royalties...........................................................     571      504    1,075    1,035
Net costs.................................................................   1,654    1,722    3,376    3,376
Sales (kt, equity share).................................................. 121,228  115,543  236,771  231,208
Cost per tonne (US$)/(1)/.................................................   13.64    14.90    14.26    14.60
Cost per tonne on a C1 basis excluding third party royalties (US$)/(2)/...   12.41    13.68    13.03    13.36

(1) FY18 based on an average exchange rate of AUD/USD 0.78.
(2) Excludes third party royalties of US$0.74 per tonne (2017: US$0.72 per
    tonne), exploration expenses, depletion of production stripping, demurrage,
    exchange rate gains/losses, net inventory movements and other income.

On 14 June 2018, the BHP Board approved US$2.9 billion (BHP share;
US$3.4 billion 100 per cent) in capital expenditure for the South Flank
project. The capital cost fits within WAIO's previously indicated average
annual sustaining capital expenditure of approximately US$4 per tonne over the
next five years, with actual sustaining capital expenditure highly variable in
any given year during the development of South Flank. The South Flank project
will fully replace production from the 80 Mtpa (100 per cent basis) Yandi mine,
with first ore targeted in the 2021 calendar year. South Flank will contribute
to an increase in WAIO's average iron grade from 61 per cent to 62 per cent,
and the overall proportion of lump from 25 per cent to approximately
35 per cent. It is expected to have a strip ratio in line with the WAIO average.

--------------------------------------------------------------------------------
                     BHP Results for the year              19
                     ended 30 June 2018

Financial information for Iron Ore for the 2018 and 2017 financial years is
presented below.

Year ended                                                                      Net
30 June 2018                                     Underlying       Underlying operating   Capital   Exploration Exploration
US$M                                     Revenue   EBITDA    D&A     EBIT     assets   expenditure    gross     to profit
------------                             ------- ---------- ----- ---------- --------- ----------- ----------- -----------
Western Australia Iron Ore.............. 14,596    8,869    1,721   7,148     19,406      1,047
Samarco/(1)/............................     --       --       --      --     (1,278)        --
Other/(2)/..............................    160       60       14      46        192         27
                                         ------    -----    -----   -----     ------      -----
Total Iron Ore from Group production.... 14,756    8,929    1,735   7,194     18,320      1,074
                                         ------    -----    -----   -----     ------      -----
Third party products/(3)/...............     54        1       --       1         --         --
                                         ------    -----    -----   -----     ------      -----       ---         ---
Total Iron Ore.......................... 14,810    8,930    1,735   7,195     18,320      1,074        84          44
                                         ------    -----    -----   -----     ------      -----       ---         ---
Adjustment for equity accounted
  investments...........................     --       --       --      --         --         --        --          --
                                         ------    -----    -----   -----     ------      -----       ---         ---
Total Iron Ore statutory result......... 14,810    8,930    1,735   7,195     18,320      1,074        84          44
                                         ------    -----    -----   -----     ------      -----       ---         ---

Year ended                                                                      Net
30 June 2017                                     Underlying       Underlying operating   Capital   Exploration Exploration
US$M                                     Revenue   EBITDA    D&A     EBIT     assets   expenditure    gross     to profit
------------                             ------- ---------- ----- ---------- --------- ----------- ----------- -----------
Western Australia Iron Ore.............. 14,395    9,001    1,873   7,128     20,040        716
Samarco/(1)/............................     --       --       --      --     (1,049)        --
Other/(2)/..............................    148       53        7      46        184         89
                                         ------    -----    -----   -----     ------      -----
Total Iron Ore from Group production.... 14,543    9,054    1,880   7,174     19,175        805
                                         ------    -----    -----   -----     ------      -----
Third party products/(3)/...............     81       23       --      23         --         --
                                         ------    -----    -----   -----     ------      -----       ---         ---
Total Iron Ore.......................... 14,624    9,077    1,880   7,197     19,175        805        94          70
                                         ------    -----    -----   -----     ------      -----       ---         ---
Adjustment for equity accounted
  investments...........................     --       --       --      --         --         --        --          --
                                         ------    -----    -----   -----     ------      -----       ---         ---
Total Iron Ore statutory result......... 14,624    9,077    1,880   7,197     19,175        805        94          70
                                         ------    -----    -----   -----     ------      -----       ---         ---

(1) Samarco is an equity accounted investment and its financial information
    presented above, with the exception of net operating assets, reflects BHP
    Billiton Brasil Ltda's share. All financial impacts following the Samarco
    dam failure have been reported as exceptional items in both reporting
    periods.
(2) Predominantly comprises divisional activities, towage services, business
    development and ceased operations.
(3) Includes inter-segment and external sales of contracted gas purchases.

--------------------------------------------------------------------------------
                     News Release                          20

Coal

Underlying EBITDA for the 2018 financial year increased by US$613 million to
US$4.4 billion.

                                                                           US$M
                                                                          -----
Underlying EBITDA for the year ended 30 June 2017........................ 3,784
Net price impact/(1)/.................................................... 1,095
Change in volumes: productivity..........................................  (189)
Change in controllable cash costs........................................  (430)
Change in other costs:
   Exchange rates........................................................   (55)
   Inflation.............................................................   (77)
   One-off items/(2)/....................................................   227
Other/(3)/...............................................................    42
                                                                          -----
Underlying EBITDA for the year ended 30 June 2018........................ 4,397
                                                                          -----

(1) Average realised price: hard coking coal US$194.59/t (2017: US$179.83/t);
    weak coking coal US$131.70/t (2017: US$121.32/t); thermal coal US$86.94/t
    (2017: US$74.67/t).
(2) One-off items reflects: impact from lower volumes following Cyclone Debbie
    in the 2017 financial year.
(3) Other includes: fuel and energy; ceased and sold operations; other items
    (including profit from equity accounted investments).

Metallurgical  coal  production  increased by seven per cent to a record 43
Mt/(xi)/  as record  stripping  performance,  increased  truck  hours and higher
wash-plant  utilisation from low-cost  debottlenecking  activities  offset lower
volumes from  Broadmeadow and Blackwater  (negative  impact of US$263  million).
Operational  conditions at Broadmeadow and Blackwater improved  significantly in
the June 2018 quarter.  One-off items  reflects the impact of lower volumes as a
result of Cyclone Debbie in the prior year.

Energy coal production was flat at 29 Mt/(xi)/ as a strong performance at New
South Wales Energy Coal (NSWEC) was partially offset by the impacts of wet
weather and higher strip ratio areas being mined at Cerrejon.

Controllable cash costs increased by US$430 million and include:

.   US$150 million - unfavourable fixed cost dilution from reduced volumes at
    Broadmeadow and Blackwater;

.   US$109 million - additional contractor stripping fleet costs and
    debottlenecking activities;

.   US$63 million - increased maintenance costs due to a higher number of
    planned shutdowns and major component replacements; and

.   US$45 million - increased contractor costs from the re-opening of the
    Ayredale Pit at NSWEC.

Queensland Coal unit costs increased by 14 per cent to US$68 per tonne,
including the impact of a stronger Australian dollar. Unit cost guidance for the
2019 financial year is expected to be between US$68 and US$72 per tonne (based
on an exchange rate of AUD/USD 0.75) as a result of an eight per cent increase
in strip ratios, higher diesel prices, local inflationary pressures and an
extensive maintenance program planned for the first half of the 2019 financial
year. In the medium term, we expect to lower our unit costs to approximately
US$57 per tonne.

NSWEC unit costs/(vi)/ increased by 12 per cent to US$46 per tonne, including the
impact of a stronger Australian dollar. Unit cost guidance for the 2019
financial year is expected to be between US$43 and US$48 per tonne (based on an
exchange rate of AUD/USD 0.75) reflecting mine progression through geological
constraints from the monocline transition, higher strip ratios and diesel
prices, as well as increased contract mining costs. Geological constraints are
expected to continue into the medium term, with unit costs forecast to remain at
approximately US$45 per tonne during this period.

Queensland Coal (US$M)                             H2 FY18   H1 FY18     FY18    FY17
----------------------                             -------   -------   -------  ------
Revenue...........................................   4,038     3,350     7,388   6,316
Underlying EBITDA.................................   2,143     1,504     3,647   3,256
Gross costs.......................................   1,895     1,846     3,741   3,060
Less: freight.....................................      86        64       150     111
Less: royalties...................................     419       321       740     631
Net costs.........................................   1,390     1,461     2,851   2,318
Sales (kt, equity share)..........................  21,383    20,516    41,899  38,846
Cost per tonne (US$)/(1)/.........................   65.00     71.21     68.04   59.67

(1) FY18 based on an average exchange rate of AUD/USD 0.78.

--------------------------------------------------------------------------------
                     BHP Results for the year              21
                     ended 30 June 2018

On 30 May 2018, BHP announced it has entered into an arrangement to sell the
Gregory Crinum mine, which was placed into care and maintenance in January 2016,
to Sojitz Corporation/(xii)/. Completion of the sale is subject to the fulfilment
of conditions precedent including customary regulatory approvals, which could
take several months.

Financial information for Coal for the 2018 and 2017 financial years is
presented below.

Year ended                                                                    Net
30 June 2018                                  Underlying       Underlying  operating    Capital   Exploration Exploration
US$M                                  Revenue   EBITDA    D&A     EBIT      assets    expenditure    gross     to profit
------------                          ------- ---------- ----- ---------- ----------- ----------- ----------- -----------
Queensland Coal......................  7,388     3,647     596   3,051       8,355        391
New Mexico...........................     --        --      --      --          --         --
New South Wales Energy Coal/(2)/.....  1,605       652     149     503         994         18
Colombia/(2)/........................    818       395      95     300         883         54
Other/(3)/...........................     --       (10)      3     (13)       (379)        --
                                       -----    ------   -----   -----      ------       ----
Total Coal from Group production.....  9,811     4,684     843   3,841       9,853        463
                                       -----    ------   -----   -----      ------       ----
Third party products.................      2        (1)     --      (1)         --         --
                                       -----    ------   -----   -----      ------       ----         ---         ---
Total Coal...........................  9,813     4,683     843   3,840       9,853        463          21          21
                                       -----    ------   -----   -----      ------       ----         ---         ---
Adjustment for equity accounted
  investments/(4)(5)/................   (924)     (286)   (128)   (158)         --        (54)         --          --
                                       -----    ------   -----   -----      ------       ----         ---         ---
Total Coal statutory result            8,889     4,397     715   3,682       9,853        409          21          21
                                       -----    ------   -----   -----      ------       ----         ---         ---

Year ended                                                                    Net
30 June 2017                                  Underlying       Underlying  operating    Capital   Exploration Exploration
US$M                                  Revenue   EBITDA    D&A     EBIT    assets/(6)/ expenditure    gross     to profit
------------                          ------- ---------- ----- ---------- ----------- ----------- ----------- -----------
Queensland Coal......................  6,316     3,256     605   2,651       8,581        235
New Mexico/(1)/......................      3        (6)      3      (9)         --          1
New South Wales Energy Coal/(2)/.....  1,351       525     154     371       1,080         11
Colombia/(2)/........................    749       363      96     267         873         34
Other/(3)/...........................      8       (57)      4     (61)       (398)        --
                                       -----    ------   -----   -----      ------       ----
Total Coal from Group production.....  8,427     4,081     862   3,219      10,136        281
                                       -----    ------   -----   -----      ------       ----
Third party products.................     --        --      --      --          --         --
                                       -----    ------   -----   -----      ------       ----         ---         ---
Total Coal...........................  8,427     4,081     862   3,219      10,136        281           9           9
                                       -----    ------   -----   -----      ------       ----         ---         ---
Adjustment for equity accounted
  investments/(4)(5)/................   (849)     (297)   (128)   (169)         --        (35)         --          --
                                       -----    ------   -----   -----      ------       ----         ---         ---
Total Coal statutory result..........  7,578     3,784     734   3,050      10,136        246           9           9
                                       -----    ------   -----   -----      ------       ----         ---         ---

(1) Includes the Navajo mine (divested in July 2016).
(2) Newcastle Coal Infrastructure Group and Cerrejon are equity accounted
    investments and their financial information presented above, with the
    exception of net operating assets, reflects BHP's share.
(3) Predominantly comprises divisional activities, IndoMet Coal (divested in
    October 2016) and ceased operations.
(4) Total Coal statutory result Revenue excludes US$818 million (2017: US$749
    million) revenue related to Cerrejon. Total Coal statutory result Underlying
    EBITDA includes US$95 million (2017: US$96 million) D&A and US$108 million
    (2017: US$116 million) net finance costs and taxation expense related to
    Cerrejon, that are also included in Underlying EBIT. Total Coal statutory
    result Capital expenditure excludes US$54 million (2017: US$34 million)
    related to Cerrejon.
(5) Total Coal statutory result Revenue excludes US$106 million (2017: US$100
    million) revenue related to Newcastle Coal Infrastructure Group. Total Coal
    statutory result excludes US$83 million (2017: US$85 million) Underlying
    EBITDA, US$33 million (2017: US$32 million) D&A and US$50 million (2017:
    US$53 million) Underlying EBIT related to Newcastle Coal Infrastructure
    Group until future profits exceed accumulated losses. Total Coal statutory
    result Capital expenditure excludes US$ nil million (2017: US$1 million)
    related to Newcastle Coal Infrastructure Group.
(6) Queensland Coal net operating assets have been restated to reflect ceased
    operations in Other on a consistent basis with the 2018 financial year.
    There is no change to the overall net operating assets position.

--------------------------------------------------------------------------------
                     News Release                          22

Group and unallocated items

Underlying EBITDA loss for Group and unallocated items decreased by US$166
million to US$7 million in the 2018 financial year, as a strong performance at
Nickel West more than offset unfavourable exchange rate impacts on corporate
provision balances.

Nickel West's Underlying EBITDA increased from US$44 million to US$291 million
for the 2018 financial year, predominantly due to higher prices, and improved
mill utilisation and concentrator recoveries which supported record metal
production.

--------------------------------------------------------------------------------
                     BHP Results for the year              23
                     ended 30 June 2018

The financial information set out on pages 29 to 48 for the year ended 30 June
2018 has been prepared on the basis of accounting policies and methods of
computation consistent with those applied in the 30 June 2017 financial
statements contained within the Annual Report of the Group. This news release
including the financial information is unaudited. Variance analysis relates to
the relative financial and/or production performance of BHP and/or its
operations during the 2018 financial year compared with the 2017 financial year,
unless otherwise noted. Operations includes operated and non-operated assets,
unless otherwise noted. Numbers presented may not add up precisely to the totals
provided due to rounding.

The following abbreviations may have been used throughout this report: barrels
(bbl); billion cubic feet (bcf); barrels of oil equivalent (boe); billion tonnes
(Bt); cost and freight (CFR); cost, insurance and freight (CIF), dry metric
tonne unit (dmtu); free on board (FOB); grams per tonne (g/t); kilograms per
tonne (kg/t); kilometre (km); metre (m); million barrels of oil equivalent
(MMboe); million barrels of oil equivalent per day (MMboe/d); thousand cubic
feet equivalent (Mcfe); million cubic feet per day (MMcf/d); million ounces per
annum (Mozpa); million pounds (Mlb); million tonnes (Mt); million tonnes per
annum (Mtpa); ounces (oz); pounds (lb); thousand barrels of oil equivalent
(Mboe); thousand ounces (koz); thousand ounces per annum (kozpa); thousand
standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum
(ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).

The following footnotes apply to this Results Announcement:

(i)    We use other financial measures (each of which is calculated with
       reference to IFRS measures) to assess our performance, which are defined
       below and have been calculated on a combined continuing and discontinued
       operations basis:

       .   Free cash flow - comprises net operating cash flows less net
           investing cash flows.

       .   Gearing ratio - represents the ratio of net debt to net debt plus net
           assets.

       .   Net debt - comprises Interest bearing liabilities less Cash and cash
           equivalents for the Group at the reporting date.

(ii)   We use various alternate performance measures to reflect our underlying
       performance. We believe these alternate performance measures provide
       useful information, but should not be considered as an indication of, or
       as a substitute for, Attributable profit and other statutory measures as
       an indicator of actual operating performance or as an alternative to cash
       flow as a measure of liquidity.

       We consider Underlying attributable profit to be a key measure that
       provides insight on the amount of profit available to distribute to
       shareholders, which aligns to our purpose as outlined in Our Charter.
       Underlying attributable profit is also the key performance indicator
       against which short-term incentive outcomes for our senior executives are
       measured and, in our view, is a relevant measure to assess the financial
       performance of BHP for this purpose.

       Underlying EBITDA is the key alternate performance measure that
       management uses internally to assess the performance of the Group's
       segments and make decisions on the allocation of resources. In the
       Group's view, this is more relevant to capital intensive industries with
       long-life assets.

       Underlying attributable profit and Underlying EBITDA have been reconciled
       back to the appropriate statutory measure on page 8.

        .   Underlying attributable profit is Profit after taxation attributable
            to owners of the BHP Group (also referred to as 'Attributable
            profit') excluding any exceptional items attributable to the owners
            of the BHP Group.

       .   Underlying EBITDA is Earnings before net finance costs, depreciation,
           amortisation and impairments, taxation expense, and exceptional
           items. Underlying EBITDA includes net finance costs and taxation
           expense, depreciation, amortisation and impairments related to equity
           accounted investments of US$618 million (2017: US$540 million) and
           excludes exceptional items of US$509 million (2017: US$172 million)
           related to share of profit/(loss) from equity accounted investments.

       .   Underlying EBIT is Underlying EBITDA, including depreciation,
           amortisation and impairments of US$6,621 million for the 2018
           financial year (2017: US$6,160 million). Underlying EBIT includes net
           finance costs and taxation expense of US$407 million (2017: US$325
           million) related to equity accounted investments and excludes
           exceptional items of US$509 million (2017: US$172 million) related to
           share of profit/(loss) from equity accounted investments.

(iii)  Further alternate performance measures are defined as follows:

       .   Adjusted effective tax rate - comprises Total taxation expense
           excluding exceptional items and exchange rate movements included in
           taxation expense divided by Profit before taxation and exceptional
           items. Management believes this measure provides useful information
           regarding the tax impacts from underlying operations.

       .   Net operating assets - represents operating assets net of operating
           liabilities including the carrying value of equity accounted
           investments and predominantly excludes cash balances, loans to
           associates, interest bearing liabilities and deferred tax balances.
           The carrying value of investments accounted for using the equity
           accounted method represents the balance of the Group's investment in
           equity accounted investments, with no adjustment for any cash
           balances, interest bearing liabilities and deferred tax balances of
           the equity accounted investment.

       .   Underlying basic earnings per share - represents Underlying
           attributable profit divided by the weighted average number of basic
           shares.

       .   Underlying EBITDA margin - comprises Underlying EBITDA excluding
           third party product EBITDA, divided by revenue excluding third party
           product revenue.

       .   Underlying return on capital employed (ROCE) - represents annualised
           attributable profit after tax excluding exceptional items and net
           finance costs (after tax) divided by average capital employed.
           Average capital employed is calculated as the average of net assets
           less net debt for the last two financial years.

       The method of calculation of the Principal factors that affect Underlying
       EBITDA is as follows:

       References to operation/s in each Principal factor excludes equity
       accounted investments which are included within 'Other'.

       .   Change in sales prices - Change in average realised price for each
           operation from the corresponding period to the current period,
           multiplied by current period volumes.

       .   Price-linked costs - Change in price-linked costs for each operation
           from the corresponding period to the current period, multiplied by
           current period volumes.

       .   Productivity volumes - Change in volumes for each operation not
           included in the Growth category from the corresponding period to the
           current period, multiplied by the prior year Underlying EBITDA
           margin. Used to determine changes in productivity in footnote (iv).

       .   Growth volumes - Volume - Growth comprises Underlying EBITDA for
           operations that are new or acquired in the current period minus
           Underlying EBITDA for operations that are new or acquired in the
           corresponding period, change in volumes for operations identified as
           a Growth project from the corresponding period to the current period
           multiplied by the prior year Underlying EBITDA margin, and change in
           volume for our petroleum assets from the corresponding period to the
           current period multiplied by the prior year Underlying EBITDA margin.

--------------------------------------------------------------------------------
                     News Release                          24

       .   Controllable cash costs - comprises operating cash costs and
           exploration and business development costs. Management believes this
           measure provides useful information regarding the Group's financial
           performance because it considers these expenses to be the principal
           operating and overhead expenses that are most directly under the
           Group's control. Used to determine changes in productivity in
           footnote (iv).

       .   Operating cash costs - Change in total costs, other than price-linked
           costs, exchange rates, inflation on costs, fuel and energy costs,
           non-cash costs and one-off items as defined below for each operation
           from the corresponding period to the current period.

       .   Exploration and business development - Exploration and business
           development expense in the current period minus exploration and
           business development expense in the corresponding period.

       .   Exchange rates - Change in exchange rate multiplied by current period
           local currency revenue and expenses. The majority of the Company's
           selling prices are denominated in US dollars and so there is little
           impact of exchange rate changes on Revenue.

       .   Inflation - Change in inflation rate applied to expenses, other than
           depreciation and amortisation, price-linked costs, exploration and
           business development expenses, expenses in ceased and sold operations
           and expenses in new and acquired operations.

       .   Fuel and energy - Fuel and energy expense in the current period minus
           fuel and energy expense in the corresponding period.

       .   Non-cash - Includes non-cash items mainly depletion of stripping
           capitalised.

       .   One-off items - Change in costs exceeding a pre-determined threshold
           associated with an unexpected event that had not occurred in the last
           two years and is not reasonably likely to occur within the next two
           years.

       .   Asset sales - Profit/loss on the sale of assets or operations in the
           current period minus profit/loss on sale in the corresponding period.

       .   Ceased and sold operations - Underlying EBITDA for operations that
           ceased or were sold in the current period minus Underlying EBITDA for
           operations that ceased or were sold in the corresponding period.

       .   Other - Share of operating profit from equity accounted investments
           for the period minus share of operating profit from equity accounted
           investments in the corresponding period and variances not explained
           by the above factors.

(iv)   Represents changes in controllable cash costs (refer to footnote (iii)),
       changes in volumes attributed to productivity (refer to definition of
       'productivity volumes' in footnote (iii)) and changes in capitalised
       exploration. Changes in capitalised exploration is capitalised
       exploration in the current period less capitalised exploration in the
       prior period.

(v)    Capital and exploration expenditure represents purchases of property,
       plant and equipment plus exploration expenditure from the Consolidated
       Cash Flow Statement and includes purchases of property, plant and
       equipment plus exploration expenditure from discontinued operations.
       Refer to note 9 'Discontinued operations' for further information.

(vi)   Conventional petroleum unit cash costs exclude inventory movements,
       freight, third party, exploration and development and evaluation expense;
       WAIO, Queensland Coal and NSWEC unit cash costs exclude freight and
       royalties; Escondida unit cash costs include the grade decline and
       exclude freight and treatment and refining charges and are net of
       by-product credits. 2019 financial year and medium-term unit cost
       guidance are based on exchange rates of AUD/USD 0.75 and USD/CLP 663.
       Other forward-looking guidance is based on internal exchange rate
       assumptions.

(vii)  Copper equivalent production based on 2017 financial year average
       realised prices.

(viii) Balances relating to hedging derivatives of external debt included within
       net other financial assets/(liabilities) for the year ended 30 June 2018
       was US$(0.8) billion (30 June 2017: US$(0.7) billion). The movement of
       US$0.1 billion primarily relates to a non-cash fair value adjustment,
       which offsets in net debt.

(ix)   Maintenance capital includes non-discretionary spend for the following
       purposes: deferred development and production stripping; risk reduction,
       compliance and asset integrity.

(x)    On 19 June 2018, BHP announced it has entered into an agreement to sell
       the Cerro Colorado copper mine in Chile to EMR Capital. The total cash
       consideration consists of US$230 million to be paid to BHP after the
       closing of the transaction, plus approximately US$40 million in proceeds
       from the post-closing sale of certain copper inventory, and a contingent
       payment of up to US$50 million to be paid in the future, depending upon
       copper price performance.

(xi)   Iron ore production and guidance excludes production from Samarco; Energy
       Coal production and guidance excludes production from New Mexico Coal
       following divestments; Metallurgical coal production and guidance
       excludes production from Haju following the divestment of IndoMet Coal.

(xii)  On 30 May 2018, BHP Billiton Mitsubishi Alliance (BMA) announced it has
       entered into an agreement to sell the Gregory Crinum coal mine in central
       Queensland to Sojitz Corporation for A$100 million (100 per cent basis).
       In addition to the sale of the mine to Sojitz, BHP will be providing
       appropriate funding for rehabilitation of existing areas of disturbance
       at the site, with all rehabilitation liabilities transferred to Sojitz on
       completion.

Forward-looking statements

This release contains forward-looking statements, including statements
regarding: trends in commodity prices and currency exchange rates; demand for
commodities; plans, strategies and objectives of management; closure or
divestment of certain operations or facilities (including associated costs);
anticipated production or construction commencement dates; capital costs and
scheduling; operating costs and shortages of materials and skilled employees;
anticipated productive lives of projects, mines and facilities; provisions and
contingent liabilities; tax and regulatory developments.

Forward-looking statements can be identified by the use of terminology,
including, but not limited to, 'intend', 'aim', 'project', 'anticipate',
'estimate', 'plan', 'believe', 'expect', 'may', 'should', 'will', 'continue',
'annualised' or similar words. These statements discuss future expectations
concerning the results of operations or financial condition, or provide other
forward-looking statements.

These forward-looking statements are not guarantees or predictions of future
performance, and involve known and unknown risks, uncertainties and other
factors, many of which are beyond our control, and which may cause actual
results to differ materially from those expressed in the statements contained in
this release. Readers are cautioned not to put undue reliance on forward-looking
statements.

For example, our future revenues from our operations, projects or mines
described in this release will be based, in part, upon the market price of the
minerals, metals or petroleum produced, which may vary significantly from
current levels. These variations, if materially adverse, may affect the timing
or the feasibility of the development of a particular project, the expansion of
certain facilities or mines, or the continuation of existing operations.

--------------------------------------------------------------------------------
                     BHP Results for the year              25
                     ended 30 June 2018

Other factors that may affect the actual construction or production commencement
dates, costs or production output and anticipated lives of operations, mines or
facilities include our ability to profitably produce and transport the minerals,
petroleum and/or metals extracted to applicable markets; the impact of foreign
currency exchange rates on the market prices of the minerals, petroleum or
metals we produce; activities of government authorities in some of the countries
where we are exploring or developing these projects, facilities or mines,
including increases in taxes, changes in environmental and other regulations and
political uncertainty; labour unrest; and other factors identified in the risk
factors discussed in BHP's filings with the U.S. Securities and Exchange
Commission (the 'SEC') (including in Annual Reports on Form 20-F) which are
available on the SEC's website at www.sec.gov.

Except as required by applicable regulations or by law, the Group does not
undertake any obligation to publicly update or review any forward-looking
statements, whether as a result of new information or future events.

Past performance cannot be relied on as a guide to future performance.

Non-IFRS financial information

BHP results are reported under IFRS. This release may also include certain
non-IFRS (also referred to as alternate performance measures) and other measures
including Underlying attributable profit, Underlying EBITDA, Underlying EBIT,
Adjusted effective tax rate, Controllable cash costs, Free cash flow, Gearing
ratio, Net debt, Net operating assets, Principal factors that affect Underlying
EBITDA, Underlying basic earnings per share, Underlying EBITDA margin and
Underlying return on capital employed (ROCE). These measures are used internally
by management to assess the performance of our business and segments, make
decisions on the allocation of our resources and assess operational management.
Non-IFRS and other measures have not been subject to audit or review and should
not be considered as an indication of or alternative to an IFRS measure of
profitability, financial performance or liquidity.

No offer of securities

Nothing in this release should be construed as either an offer, or a
solicitation of an offer, to buy or sell BHP securities in any jurisdiction, or
be treated or relied upon as a recommendation or advice by BHP.

Reliance on third party information

The views expressed in this release contain information that has been derived
from publicly available sources that have not been independently verified. No
representation or warranty is made as to the accuracy, completeness or
reliability of the information. This release should not be relied upon as a
recommendation or forecast by BHP.

No financial or investment advice - South Africa

BHP does not provide any financial or investment 'advice' as that term is
defined in the South African Financial Advisory and Intermediary Services Act,
37 of 2002, and we strongly recommend that you seek professional advice.

BHP and its subsidiaries

In this release, the terms 'BHP', 'Group', 'BHP Group', 'we', 'us', 'our' and
'ourselves' are used to refer to BHP Billiton Limited, BHP Billiton Plc and,
except where the context otherwise requires, their respective subsidiaries as
identified in note 13 'Related undertaking of the Group' in section 5.2 of BHP's
30 June 2017 Annual Report on Form 20-F. Notwithstanding that this release may
include production, financial and other information from non-operated assets,
non-operated assets are not included in the BHP Group and, as a result,
statements regarding our operations, assets and values apply only to our
operated assets unless otherwise stated.

--------------------------------------------------------------------------------
                     News Release                          26

Further information on BHP can be found at: bhp.com

Media Relations                                    Investor Relations

Email: media.relations@bhpbilliton.com             Email: investor.relations@bhpbilliton.com

Australia and Asia                                 Australia and Asia

Ben Pratt                                          Tara Dines
Tel: +61 3 9609 3672  Mobile: +61 419 968 734      Tel: +61 3 9609 2222  Mobile: +61 499 249 005

United Kingdom and South Africa                    United Kingdom and South Africa

Neil Burrows                                       Elisa Morniroli
Tel: +44 20 7802 7484  Mobile: +44 7786 661 683    Tel: +44 20 7802 7611  Mobile: +44 7825 926 646

North America                                      Americas

Judy Dane                                          James Wear
Tel: +1 713 961 8283  Mobile: +1 713 299 5342      Tel: +1 713 993 3737  Mobile: +1 347 882 3011


BHP Billiton Limited ABN 49 004 028 077            BHP Billiton Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28                           LEI 549300C116EOWV835768
Registered in Australia                            Registered in England and Wales
Registered Office: Level 18, 171 Collins Street    Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia                  London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015           Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Group which is
headquartered in Australia

[LOGO]

Follow us on social media

--------------------------------------------------------------------------------
                     BHP Results for the year              27
                     ended 30 June 2018

Thia page left blank intentionally

--------------------------------------------------------------------------------
                     News Release                          28

[LOGO]

BHP
Financial Information
Year ended
30 June 2018

--------------------------------------------------------------------------------

Contents

Financial Information                                                     Page

Consolidated Income Statement for the year ended 30 June 2018...........    31

Consolidated  Statement of Comprehensive  Income for the year ended
  30 June 2018..........................................................    31

Consolidated Balance Sheet as at 30 June 2018...........................    32

Consolidated Cash Flow Statement for the year ended 30 June 2018........    33

Consolidated  Statement  of  Changes  in Equity  for the year ended
  30 June 2018.... .....................................................    34

Notes to the Financial Information......................................    35

The financial information included in this document for the year ended 30 June
2018 is unaudited and has been derived from the draft financial report of the
Group for the year ended 30 June 2018. The financial information does not
constitute the Group's full statutory accounts for the year ended 30 June 2018,
which will be approved by the Board, reported on by the auditors, and
subsequently filed with the UK Registrar of Companies and the Australian
Securities and Investments Commission.

The financial information set out of pages 29 to 48 for the year ended 30 June
2018 has been prepared on the basis of accounting policies and methods of
computation consistent with those applied in the 30 June 2017 financial
statements contained within the Annual Report of the Group.

The comparative figures for the financial years ended 30 June 2017 and 30 June
2016 are not the statutory accounts of the Group for those financial years.
Those accounts have been reported on by the company's auditor and delivered to
the Registrar of Companies. The reports of the auditor were (i) unqualified,
(ii) did not include a reference to any matters to which the auditor drew
attention by way of emphasis without qualifying the reports and (iii) did not
contain a statement under Section 498(2) or (3) of the UK Companies Act 2006.

All amounts are expressed in US dollars unless otherwise noted. The Group's
presentation currency and the functional currency of the majority of its
operations is US dollars as this is the principal currency of the economic
environment in which it operates. Amounts in this financial information have,
unless otherwise indicated, been rounded to the nearest million dollars.

Where applicable, comparative periods have been adjusted to disclose them on
the same basis as the current period figures. The financial information for the
years ended 30 June 2017 and 30 June 2016 has been restated for the effects of
the application of IFRS 5/AASB 5 'Non-current Assets Held for Sale and
Discontinued Operations' following the announcement of the sale of the Onshore
US assets on 27 July 2018. The nature of each change reflected in the restated
financial information is as follows:

All income and expense items relating to the Onshore US assets have been
removed from the individual line items in the Consolidated Income Statement.
The post-tax loss of the Onshore US assets is presented as a single amount in
the line item entitled 'Loss after taxation from Discontinued operations'; and

All cash flows and other items relating to the Onshore US assets have been
removed from the individual line items in the Consolidated Cash Flow Statement.
The net cash flows attributable to operating, investing and financing
activities of the Onshore US assets are each disclosed in single amounts in
each section of the Consolidated Cash Flow Statement.

The Consolidated Balance Sheet, the Consolidated Statement of Comprehensive
Income and the Consolidated Statement of Changes in Equity for these periods
are not required to be restated.

--------------------------------------------------------------------------------
                     Financial Information                 30

Consolidated Income Statement for the year ended 30 June 2018

                                                                                                  2017           2016
                                                                                      2018        US$M           US$M
                                                                         Notes        US$M      Restated       Restated
                                                                         -----    ----------   -----------   ------------
Continuing operations
Revenue..............................................................               43,638        36,135         28,567
Other income.........................................................                  247           662            432
Expenses excluding net finance costs.................................              (28,036)      (24,515)       (24,091)

Profit/(loss) from equity accounted investments, related impairments
   and expenses......................................................      2           147           272         (2,104)
                                                                                   -------       -------        -------
Profit from operations...............................................               15,996        12,554          2,804
                                                                                   -------       -------        -------
Financial expenses...................................................               (1,567)       (1,560)        (1,150)
Financial income.....................................................                  322           143            137
                                                                                   -------       -------        -------
Net finance costs....................................................      3        (1,245)       (1,417)        (1,013)
                                                                                   -------       -------        -------
Profit before taxation...............................................               14,751        11,137          1,791
                                                                                   -------       -------        -------
Income tax expense...................................................               (6,879)       (4,276)        (1,858)
Royalty-related taxation (net of income tax benefit).................                 (128)         (167)          (245)
                                                                                   -------       -------        -------
Total taxation expense...............................................      4        (7,007)       (4,443)        (2,103)
                                                                                   -------       -------        -------
Profit/(loss) after taxation from Continuing operations..............                7,744         6,694           (312)
                                                                                   -------       -------        -------
Discontinued operations
Loss after taxation from Discontinued operations.....................      9        (2,921)         (472)        (5,895)
                                                                                   -------       -------        -------
Profit/(loss) after taxation from Continuing and Discontinued
   operations........................................................                4,823         6,222         (6,207)
                                                                                   -------       -------        -------
   Attributable to non-controlling interests.........................                1,118           332            178
   Attributable to BHP shareholders..................................                3,705         5,890         (6,385)
                                                                                   -------       -------        -------
Basic earnings/(loss) per ordinary share (cents).....................      6          69.6         110.7         (120.0)
Diluted earnings/(loss) per ordinary share (cents)...................      6          69.4         110.4         (120.0)

Basic earnings/(loss) from Continuing operations per ordinary
   share (cents).....................................................      6         125.0         119.8          (10.2)
Diluted earnings/(loss) from Continuing operations per ordinary
   share (cents).....................................................      6         124.6         119.5          (10.2)
                                                                                   -------       -------        -------

The accompanying notes form part of this financial information.

Consolidated Statement of Comprehensive Income for the year ended 30 June 2018

                                                                                      2018         2017          2016
                                                                                      US$M         US$M          US$M
                                                                                  ----------   -----------   ------------
Profit/(loss) after taxation from Continuing and Discontinued
   operations........................................................                4,823         6,222         (6,207)
Other comprehensive income
Items that may be reclassified subsequently to the income statement:
Available for sale investments:
   Net valuation gains/(losses) taken to equity......................                   11            (1)             2
   Net valuation losses transferred to the income statement..........                   --            --              1
Cash flow hedges:
   Gains/(losses) taken to equity....................................                   82           351           (566)
   (Gains)/losses transferred to the income statement................                 (215)         (432)           664
Exchange fluctuations on translation of foreign operations
   taken to equity...................................................                    2            (1)            (1)
Exchange fluctuations on translation of foreign operations
   transferred to income statement...................................                   --            --            (10)
Tax recognised within other comprehensive income.....................                   36            24            (30)
                                                                                   -------       -------        -------
Total items that may be reclassified subsequently to the
   income statement..................................................                  (84)          (59)            60
                                                                                   -------       -------        -------
Items that will not be reclassified to the income statement:
Remeasurement gains/(losses) on pension and medical schemes..........                    1            36            (20)
Tax recognised within other comprehensive income.....................                  (14)          (26)           (17)
                                                                                   -------       -------        -------
Total items that will not be reclassified to the income statement....                  (13)           10            (37)
                                                                                   -------       -------        -------
Total other comprehensive (loss)/income..............................                  (97)          (49)            23
                                                                                   -------       -------        -------
Total comprehensive income/(loss)....................................                4,726         6,173         (6,184)
                                                                                   -------       -------        -------
   Attributable to non-controlling interests.........................                1,118           332            176
   Attributable to BHP shareholders..................................                3,608         5,841         (6,360)
                                                                                   -------       -------        -------

The accompanying notes form part of this financial information.

--------------------------------------------------------------------------------
                     BHP Financial Information             31
                     Year ended 30 June 2018

Consolidated Balance Sheet as at 30 June 2018
                                                                                     2018          2017
                                                                         Notes       US$M          US$M
                                                                         -----   -----------   -----------
ASSETS
Current assets
Cash and cash equivalents............................................               15,871        14,153
Trade and other receivables..........................................                3,096         2,836
Other financial assets...............................................                  200            72
Inventories..........................................................                3,764         3,673
Assets held for sale.................................................      9        11,939            --
Current tax assets...................................................                  106           195
Other................................................................                  154           127
                                                                                   -------       -------
Total current assets.................................................               35,130        21,056
                                                                                   -------       -------
Non-current assets
Trade and other receivables..........................................                  180           803
Other financial assets...............................................                  999         1,281
Inventories..........................................................                1,141         1,095
Property, plant and equipment........................................               67,182        80,497
Intangible assets....................................................                  778         3,968
Investments accounted for using the equity method....................                2,473         2,448
Deferred tax assets..................................................      5         4,041         5,788
Other................................................................                   69            70
                                                                                   -------       -------
Total non-current assets.............................................               76,863        95,950
                                                                                   -------       -------
Total assets.........................................................              111,993       117,006
                                                                                   -------       -------
LIABILITIES
Current liabilities
Trade and other payables.............................................                5,977         5,551
Interest bearing liabilities.........................................                2,736         1,241
Liabilities held for sale............................................      9         1,222            --
Other financial liabilities..........................................                  138           394
Current tax payable..................................................                1,773         2,119
Provisions...........................................................                2,025         1,959
Deferred income......................................................                  118           102
                                                                                   -------       -------
Total current liabilities............................................               13,989        11,366
                                                                                   -------       -------
Non-current liabilities
Trade and other payables.............................................                    3             5
Interest bearing liabilities.........................................               24,069        29,233
Other financial liabilities..........................................                1,093         1,106
Non-current tax payable..............................................                  137            --
Deferred tax liabilities.............................................      5         3,472         3,765
Provisions...........................................................                8,223         8,445
Deferred income......................................................                  337           360
                                                                                   -------       -------
Total non-current liabilities........................................               37,334        42,914
                                                                                   -------       -------
Total liabilities....................................................               51,323        54,280
                                                                                   -------       -------
Net assets..........................................................                60,670        62,726
                                                                                   -------       -------
EQUITY
Share capital - BHP Billiton Limited.................................                1,186         1,186
Share capital - BHP Billiton Plc.....................................                1,057         1,057
Treasury shares......................................................                   (5)           (3)
Reserves.............................................................                2,290         2,400
Retained earnings....................................................               51,064        52,618
                                                                                   -------       -------
Total equity attributable to BHP shareholders........................               55,592        57,258
Non-controlling interests............................................                5,078         5,468
                                                                                   -------       -------
Total equity.........................................................               60,670        62,726
                                                                                   -------       -------

The accompanying notes form part of this financial information.

--------------------------------------------------------------------------------
                     Financial Information                 32

Consolidated Cash Flow Statement for the year ended 30 June 2018

                                                                                                  2017           2016
                                                                                      2018        US$M           US$M
                                                                                      US$M      Restated       Restated
                                                                                  ----------   -----------   ------------
Operating activities
Profit before taxation...............................................               14,751        11,137          1,791
Adjustments for:
   Depreciation and amortisation expense.............................                6,288         6,184          6,210
   Impairments of property, plant and equipment, financial assets
      and intangibles................................................                  333           193            186

   Net finance costs.................................................                1,245         1,417          1,013
   (Profit)/loss from equity accounted investments, related
      impairments and expenses.......................................                 (656)         (444)          (276)
   Other.............................................................                  597           363            467
Changes in assets and liabilities:
   Trade and other receivables.......................................                 (662)          267          1,387
   Inventories.......................................................                 (182)         (687)           521
   Trade and other payables..........................................                  719           512         (1,272)
   Provisions and other assets and liabilities.......................                    7          (333)          (316)
                                                                                   -------       -------        -------
Cash generated from operations.......................................               22,949        18,612         12,091
Dividends received...................................................                  709           636            301
Interest received....................................................                  290           164            128
Interest paid........................................................               (1,177)       (1,148)          (829)
Settlement of cash management related instruments....................                 (292)         (140)            --
Net income tax and royalty-related taxation refunded.................                   17           337            435
Net income tax and royalty-related taxation paid.....................               (4,935)       (2,585)        (2,286)
                                                                                   -------       -------        -------
Net operating cash flows from Continuing operations..................               17,561        15,876          9,840
                                                                                   -------       -------        -------
Net operating cash flows from Discontinued operations................                  900           928            785
                                                                                   -------       -------        -------
Net operating cash flows.............................................               18,461        16,804         10,625
                                                                                   -------       -------        -------
Investing activities
Purchases of property, plant and equipment...........................               (4,979)       (3,697)        (5,707)
Exploration expenditure..............................................                 (874)         (966)          (752)
Exploration expenditure expensed and included in operating
   cash flows........................................................                  641           610            419
Net investment and funding of equity accounted investments...........                  204          (234)          (217)
Proceeds from sale of assets.........................................                   89           529             93
Proceeds from divestment of subsidiaries, operations and joint
   operations, net of their cash.....................................                   --           187            166
Other investing......................................................                 (141)         (153)           (20)
                                                                                   -------       -------        -------
Net investing cash flows from Continuing operations..................               (5,060)       (3,724)        (6,018)
                                                                                   -------       -------        -------
Net investing cash flows from Discontinued operations................                 (861)         (437)        (1,227)
                                                                                   -------       -------        -------
Net investing cash flows.............................................               (5,921)       (4,161)        (7,245)
                                                                                   -------       -------        -------
Financing activities
Proceeds from interest bearing liabilities...........................                  528         1,577          7,239
(Settlements)/proceeds from debt related instruments.................                 (218)           36            156
Repayment of interest bearing liabilities............................               (4,188)       (7,114)        (2,781)
Purchase of shares by Employee Share Ownership Plan (ESOP) Trusts....                 (171)         (108)          (106)
Dividends paid.......................................................               (5,220)       (2,921)        (4,130)
Dividends paid to non-controlling interests..........................               (1,582)         (575)           (62)
                                                                                   -------       -------        -------
Net financing cash flows from Continuing operations..................              (10,851)       (9,105)           316
                                                                                   -------       -------        -------
Net financing cash flows from Discontinued operations................                  (40)          (28)           (32)
                                                                                   -------       -------        -------
Net financing cash flows.............................................              (10,891)       (9,133)           284
                                                                                   -------       -------        -------
Net increase in cash and cash equivalents from Continuing
   operations........................................................                1,650         3,047          4,138
Net (decrease)/increase in cash and cash equivalents from
   Discontinued operations...........................................                   (1)          463           (474)
Cash and cash equivalents, net of overdrafts, at the beginning
   of the financial year.............................................               14,108        10,276          6,613
Foreign currency exchange rate changes on cash and cash equivalents..                   56           322             (1)
                                                                                   -------       -------        -------
Cash and cash equivalents, net of overdrafts, at the end of the
   financial year....................................................               15,813        14,108         10,276
                                                                                   -------       -------        -------

The accompanying notes form part of this financial information.

--------------------------------------------------------------------------------
                     BHP Financial Information             33
                     Year ended 30 June 2018

Consolidated Statement of Changes in Equity for the year ended 30 June 2018

                                                 Attributable to BHP shareholders
                               --------------------------------------------------------------------
                                 Share capital    Treasury shares
                               ----------------  ----------------
                                                                                      Total equity
                                 BHP      BHP      BHP      BHP                      attributable to    Non-
                               Billiton Billiton Billiton Billiton          Retained       BHP       controlling Total
US$M                           Limited    Plc    Limited    Plc    Reserves earnings  shareholders    interests  equity
----                           -------- -------- -------- -------- -------- -------- --------------- ----------- ------
Balance as at 1 July 2017...... 1,186    1,057       (2)      (1)   2,400    52,618      57,258         5,468    62,726
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Total comprehensive income.....    --       --       --       --      (87)    3,695       3,608         1,118     4,726
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Transactions with owners:
Purchase of shares by ESOP
  Trusts.......................    --       --     (159)     (12)      --        --        (171)           --      (171)
Employee share awards
  exercised net of employee
  contributions................    --       --      156       13     (139)      (30)         --            --        --
Employee share awards
  forfeited....................    --       --       --       --       (2)        2          --            --        --
Accrued employee entitlement
  for unexercised awards.......    --       --       --       --      123        --         123            --       123
Distribution to
  non-controlling interests....    --       --       --       --       --        --          --           (14)      (14)
Dividends......................    --       --       --       --       --    (5,221)     (5,221)       (1,499)   (6,720)
Transfer to non-controlling
  interests....................    --       --       --       --       (5)       --          (5)            5        --
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Balance as at 30 June 2018..... 1,186    1,057       (5)      --    2,290    51,064      55,592         5,078    60,670
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Balance as at 1 July 2016...... 1,186    1,057       (7)    (26)    2,538    49,542      54,290         5,781    60,071
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Total comprehensive income.....    --       --       --       --      (59)    5,900       5,841           332     6,173
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Transactions with owners:
Purchase of shares by ESOP
  Trusts.......................    --       --     (105)      (3)      --        --        (108)           --      (108)
Employee share awards
  exercised net of employee
  contributions................    --       --      110       28     (167)       29          --            --        --
Employee share awards
  forfeited....................    --       --       --       --      (18)       18          --            --        --
Accrued employee
  entitlement for unexercised
  awards.......................    --       --       --       --      106        --         106            --       106
Distribution to
  non-controlling interests....    --       --       --       --       --        --          --           (16)      (16)
Dividends......................    --       --       --       --       --    (2,871)     (2,871)         (601)   (3,472)
Divestment of subsidiaries,
  operations and joint
  operations...................    --       --       --       --       --        --         --            (28)      (28)
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Balance as at 30 June 2017..... 1,186    1,057       (2)      (1)   2,400    52,618      57,258         5,468    62,726
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Balance as at 1 July 2015...... 1,186    1,057      (19)     (57)   2,557    60,044      64,768         5,777    70,545
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Total comprehensive loss.......    --       --       --       --       60    (6,420)     (6,360)          176    (6,184)
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Transactions with owners:
Purchase of shares by ESOP
  Trusts.......................    --       --     (106)      --       --        --        (106)           --      (106)
Employee share awards
  exercised net of employee
  contributions................    --       --      118       31     (193)       46           2            --         2
Employee share awards
  forfeited....................    --       --       --       --      (26)       26          --            --        --
Accrued employee
  entitlement for unexercised
  awards.......................    --       --       --       --      140        --         140            --       140
Dividends......................    --       --       --       --       --    (4,154)     (4,154)         (172)   (4,326)
                                -----    -----     ----     ----    -----    ------      ------         -----    ------
Balance as at 30 June 2016..... 1,186    1,057       (7)     (26)   2,538    49,542      54,290         5,781    60,071
                                -----    -----     ----     ----    -----    ------      ------         -----    ------

The accompanying notes form part of this financial information.

--------------------------------------------------------------------------------
                     Financial Information                 34

Notes to the Financial Information

1. Exceptional items

Exceptional items are those gains or losses where their nature, including the
expected frequency of the events giving rise to them, and amount is considered
material to the Financial Statements. Such items included within the Group's
profit for the year are detailed below. Exceptional items attributable to
Discontinued operations are detailed in note 9 Discontinued operations:

                                                             Gross   Tax      Net
Year ended 30 June 2018                                      US$M    US$M     US$M
-----------------------                                      -----  -------  ------
Exceptional items by category
Samarco dam failure......................................... (650)       --    (650)
US tax reform...............................................   --    (2,320) (2,320)
                                                             ----   -------  ------
Total....................................................... (650)   (2,320) (2,970)
                                                             ----   -------  ------
Attributable to non-controlling interests...................   --        --      --
Attributable to BHP shareholders............................ (650)   (2,320) (2,970)
                                                             ----   -------  ------

Samarco Mineracao SA (Samarco) dam failure

The exceptional loss of US$650 million related to the Samarco dam failure in
November 2015 comprises the following:

Year ended 30 June 2018                                                       US$M
-----------------------                                                       ----
Expenses excluding net finance costs:
  Costs incurred directly by BHP Billiton Brasil Ltda and other BHP
    entities in relation to the Samarco dam failure..........................  (57)
Loss from equity accounted investments, related impairments and expenses:
  Share of loss relating to the Samarco dam failure..........................  (80)
  Samarco dam failure provision.............................................. (429)
Net finance costs............................................................  (84)
                                                                              ----
Total/(1)/................................................................... (650)
                                                                              ----

(1)Refer to note 8 Significant events - Samarco dam failure for further
   information.

US tax reform

On 22 December 2017, the US President signed the Tax Cuts and Jobs Act (the
TCJA) into law. The TCJA (effective 1 January 2018) includes a broad range of
tax reforms affecting the Group, including, but not limited to, a reduction in
the US corporate tax rate from 35 per cent to 21 per cent and changes to
international tax provisions.

Following enactment of the TCJA, the Group has recognised an exceptional income
tax charge of US$2,320 million, primarily relating to the reduced US corporate
income tax rate, which resulted in re-measurement of the Group's deferred tax
position and impairment of foreign tax credits due to reduced forecast
utilisation, together with tax charges on the deemed repatriation of
accumulated earnings of non-US subsidiaries.

Year ended 30 June 2018                                                       US$M
-----------------------                                                       ----
Re-measurement of deferred taxes as a result of reduced US
  corporate income tax rate................................................ (1,390)
Impairment of foreign tax credits..........................................   (834)
Net impact of tax charges on deemed repatriation of accumulated earnings
  of non-US subsidiaries/(1)/..............................................   (194)
Recognition of Alternative Minimum Tax Credits.............................     95
Other impacts..............................................................      3
                                                                            ------
Total/(2)/................................................................. (2,320)
                                                                            ------

(1)Includes US$(134) million to be settled over a period greater than 12 months
   and classified within non-current tax payable on the face of the balance
   sheet.
(2)Refer to note 4 Income tax expense for further information.

                                                     Gross   Tax      Net
Year ended 30 June 2017                              US$M    US$M     US$M
-----------------------                             ------  ------  -------
Exceptional items by category
Samarco dam failure................................  (381)     --     (381)
Escondida industrial action........................  (546)    179     (367)
Cancellation of the Caroona exploration licence....   164     (49)     115
Withholding tax on Chilean dividends...............    --    (373)    (373)
                                                     ----    ----    -----
Total..............................................  (763)   (243)  (1,006)
                                                     ----    ----    -----
Attributable to non-controlling interests -
  Escondida industrial action......................  (232)     68     (164)
Attributable to BHP shareholders...................  (531)   (311)    (842)
                                                     ----    ----    -----

--------------------------------------------------------------------------------
                     BHP Financial Information             35
                     Year ended 30 June 2018

1. Exceptional items (continued)
                                                     Gross   Tax      Net
Year ended 30 June 2016                              US$M    US$M     US$M
-----------------------                            ------  ------  -------
Exceptional items by category
Samarco dam failure............................... (2,450)    253   (2,197)
Global taxation matters...........................    (70)   (500)    (570)
                                                   ------    ----   ------
Total............................................. (2,520)   (247)  (2,767)
                                                   ------    ----   ------
Attributable to non-controlling interests.........     --      --       --
Attributable to BHP shareholders.................. (2,520)   (247)  (2,767)
                                                   ------    ----   ------

2. Interests in associates and joint venture entities

The Group's major shareholdings in associates and joint venture entities,
including their profit/(loss), are listed below:

                                                                                       Profit/(loss)
                                             Ownership interest at the      from equity accounted investments,
                                            Group's reporting date/(1)/        related impairments and expenses
                                            --------------------------- --------------------------------------------
                                              2018     2017     2016         2018            2017          2016
                                               %        %        %           US$M            US$M          US$M
                                            -------- -------- --------- --------------- --------------- ------------

Share of operating profit/(loss) of
  equity accounted investments:
Cerrejon...................................   33.33    33.33     33.33         192             129           (24)
Compania Minera Antamina SA................   33.75    33.75     33.75         544             341           203
Samarco Mineracao SA/(2)(3)/...............   50.00    50.00     50.00         (80)           (134)       (1,091)
Other......................................                                    (80)            (26)          (39)
                                                                             -----           -----        ------
Share of operating profit/(loss) of equity
  accounted investments....................                                    576             310          (951)
                                                                             -----           -----        ------
Samarco dam failure provision
  expense/(2)/.............................                                   (429)            (38)         (628)
                                                                             -----           -----        ------
Impairment of Samarco Mineracao SA.........                                     --              --          (525)
                                                                             -----           -----        ------
Profit/(loss) from equity accounted
investments, related impairments
  and expenses.............................                                    147             272        (2,104)
                                                                             -----           -----        ------

(1) The ownership interest at the Group's and the associates and joint
    venture entities' reporting dates are the same.
(2) Refer to note 8 Significant events - Samarco dam failure for further
    information. Financial impacts of US$(650) million from the Samarco dam
    failure relates to US$(80) million share of loss from US$(80) million
    funding provided during the period, US$(57) million direct costs incurred by
    BHP Billiton Brasil Ltda and other BHP entities, US$(84) million
    amortisation of discounting impacting net finance costs, US$(560) million
    change in estimate and US$131 million exchange translation.
(3) As the carrying value has been previously written down to US$ nil, any
    additional share of Samarco's losses are only recognised to the extent BHP
    Billiton Brasil Ltda has an obligation to fund the losses or investment
    funding is provided. BHP Billiton Brasil Ltda has provided US$(80) million
    funding during the period and recognised additional share of losses of
    US$(80) million.

3. Net finance costs
                                                                      Year ended   Year ended   Year ended
                                                                     30 June 2018 30 June 2017 30 June 2016
                                                                          US$M        US$M         US$M
                                                                     ------------ ------------ ------------
Financial expenses
Interest on bank loans, overdrafts and all other borrowings..........    1,168       1,130          969
Interest capitalised at 4.24% (2017: 3.25%; 2016: 2.61%)/(1)/........     (139)       (113)        (123)
Discounting on provisions and other liabilities......................      414         450          304
Fair value change on hedged loans....................................     (265)     (1,185)       1,444
Fair value change on hedging derivatives.............................      329       1,244       (1,448)
Exchange variations on net debt......................................      (19)        (23)         (24)
Other financial expenses.............................................       79          57           28
                                                                         -----      ------       ------
                                                                         1,567       1,560        1,150
                                                                         -----      ------       ------
Financial income
Interest income......................................................     (322)       (143)        (137)
                                                                         -----      ------       ------
Net finance costs....................................................    1,245       1,417        1,013
                                                                         -----      ------       ------

(1) Interest has been capitalised at the rate of interest applicable to the
    specific borrowings financing the assets under construction or, where
    financed through general borrowings, at a capitalisation rate representing
    the average interest rate on such borrowings. Tax relief for capitalised
    interest is approximately US$42 million (2017: US$34 million; 2016:
    US$37 million).

--------------------------------------------------------------------------------
                     Financial Information                 36

4. Income tax expense
                                                                      Year ended   Year ended   Year ended
                                                                     30 June 2018 30 June 2017 30 June 2016
                                                                          US$M        US$M         US$M
                                                                     ------------ ------------ ------------
Total taxation expense comprises:
Current tax expense.................................................     5,052       4,412        2,621
Deferred tax expense/(benefit)......................................     1,955          31         (518)
                                                                         -----      ------       ------
                                                                         7,007       4,443        2,103
                                                                         -----      ------       ------

                                                                      Year ended   Year ended   Year ended
                                                                     30 June 2018 30 June 2017 30 June 2016
                                                                          US$M        US$M         US$M
                                                                     ------------ ------------ ------------
Factors affecting income tax expense for the year
Income tax expense differs to the standard rate of corporation
  tax as follows:
Profit before taxation................................................  14,751      11,137        1,791
Tax on profit at Australian prima facie tax rate of 30 per cent.......   4,425       3,341          537
Impact of US tax reform
Tax on remitted and unremitted foreign earnings/(1)/..................     194          --           --
Non-tax effected operating losses and capital gains...................     834          --           --
Tax rate changes......................................................   1,390          --           --
Recognition of previously unrecognised tax assets.....................     (95)         --           --
Other.................................................................      (3)         --           --
                                                                        ------      ------       ------
Subtotal..............................................................   2,320          --           --
Other items not related to US tax reform
Tax on remitted and unremitted foreign earnings.......................     401         478         (376)
Non-tax effected operating losses and capital gains...................     721         242          457
Tax rate changes......................................................     (79)         25           14
Amounts (over)/under provided in prior years..........................     (51)        175           (4)
Foreign exchange adjustments..........................................    (152)         88          125
Investment and development allowance..................................    (180)        (53)         (36)
Tax effect of profit/(loss) from equity accounted investments,
  related impairments and expenses/(2)/...............................     (44)        (82)         631
Recognition of previously unrecognised tax assets.....................    (170)        (21)         (36)
Impact of tax rates applicable outside of Australia...................    (484)       (136)           5
Other.................................................................     172         219          541
                                                                        ------      ------       ------
Income tax expense....................................................   6,879       4,276        1,858
                                                                        ------      ------       ------
Royalty-related taxation (net of income tax benefit)..................     128         167          245
                                                                        ------      ------       ------
Total taxation expense................................................   7,007       4,443        2,103
                                                                        ------      ------       ------

(1) Comprising US$797 million repatriation tax and US$603 million of previously
    unrecognised tax credits.
(2) The profit from equity accounted investments and related expenses is net of
    income tax. This item removes the prima facie tax effect on such profits
    and related expenses.

The Group operates across many tax jurisdictions. Application of tax law can be
complex and requires judgement to assess risk and estimate outcomes,
particularly in relation to the Group's cross-border operations and
transactions.

US tax reform

As per note 1 Exceptional items, the impact of the TCJA has been included in
the Financial Statements. The TCJA includes a number of complex provisions, the
application of which are potentially subject to further implementation and
regulatory guidance, and possible elections. Judgements are required about the
application of the TCJA and its interaction with income tax accounting
principles.

5. Deferred tax balances

The movement for the period in the Group's net deferred tax position is as
follows:
                                                                                   2018        2017        2016
                                                                                   US$M        US$M        US$M
                                                                                ----------- ----------- ----------
Net deferred tax asset/(liability)
At the beginning of the financial year.........................................    2,023       1,823      (1,681)
Income tax (charge)/credit recorded in the income statement/(1)/...............   (1,445)        188       3,508
Income tax credit/(charge) recorded directly in equity.........................       17          12         (25)
Other movement.................................................................      (26)         --          21
                                                                                  ------      ------      ------
At the end of the financial year...............................................      569       2,023       1,823
                                                                                  ------      ------      ------

(1) Includes Discontinued operations income tax credit to the income statement
    of US$510 million (2017: US$219 million; 2016: US$2,990 million).

--------------------------------------------------------------------------------
                     BHP Financial Information             37
                     Year ended 30 June 2018

5. Deferred tax balances (continued)

The composition of the Group's net deferred tax assets and liabilities
recognised in the balance sheet and the deferred tax expense charged/(credited)
to the income statement is as follows:

                                                                                            Charged/(credited) to the income
                                              Deferred tax assets  Deferred tax liabilities            statement
                                             --------------------- ------------------------ --------------------------------
                                                2018       2017        2018         2017       2018       2017       2016
                                                US$M       US$M        US$M         US$M       US$M       US$M       US$M
                                             ---------- ---------- ------------ ----------- ---------- ---------- ----------
Type of temporary difference
Depreciation................................   (2,756)    (3,454)      1,356        1,411      (752)      391      (2,282)
Exploration expenditure.....................      492        543          --           --        51       (22)         (3)
Employee benefits...........................      321        379          (2)           3        31       (37)         56
Closure and rehabilitation..................    1,627      1,809        (194)        (230)      218      (151)         36
Resource rent tax...........................      468        559       1,328        1,614      (194)     (189)         (8)
Other provisions............................      141        131          (2)          (1)      (11)       14           8
Deferred income.............................       21         (2)         --          (10)      (13)        3         (49)
Deferred charges............................     (374)      (443)        272          322      (119)      (77)         62
Investments, including foreign tax credits..      546      1,145         691          648       615       (17)       (284)
Foreign exchange gains and losses...........     (120)       (87)         16           69       (20)      (77)       (310)
Tax losses..................................    3,758      5,352          --           --     1,595      (381)       (809)
Other.......................................      (83)      (144)          7          (61)       44       355          75
                                               ------     ------       -----        -----     -----      ----      ------
Total.......................................    4,041      5,788       3,472        3,765     1,445      (188)     (3,508)
                                               ------     ------       -----        -----     -----      ----      ------

The Group had unrecognised deferred tax assets of US$1,659 million at 30 June
2018 (2017: US$856 million) and unrecognised deferred tax liabilities of
US$2,216 million (2017: US$2,500 million) associated with investments in
subsidiaries. The Group's unrecognised deferred tax assets increased by US$834
million and unrecognised deferred tax liabilities decreased by US$192 million
due to the impact of US tax reform.

6. Earnings per share

                                                             Year ended   Year ended   Year ended
                                                            30 June 2018 30 June 2017 30 June 2016
                                                            ------------ ------------ ------------
Earnings/(loss) attributable to BHP shareholders (US$M)
   - Continuing operations.................................    6,652        6,375          (539)
   - Total.................................................    3,705        5,890        (6,385)
Weighted average number of shares (Million)
   - Basic/(1)/............................................    5,323        5,323         5,322
   - Diluted/(2)/..........................................    5,337        5,336         5,322
Basic earnings/(loss) per ordinary share (US cents)/(3)/
   - Continuing operations.................................    125.0        119.8         (10.2)
   - Total.................................................     69.6        110.7        (120.0)
Diluted earnings/(loss) per ordinary share (US cents)/(3)/
   - Continuing operations.................................    124.6        119.5         (10.2)
   - Total.................................................     69.4        110.4        (120.0)

(1) The calculation of the number of ordinary shares used in the computation of
    basic earnings per share is the aggregate of the weighted average number of
    ordinary shares of BHP Billiton Limited and BHP Billiton Plc outstanding
    during the period after deduction of the number of shares held by the
    Billiton Employee Share Ownership Plan Trust and the BHP Billiton Limited
    Employee Equity Trust.

(2) For the purposes of calculating diluted earnings per share, the effect of 14
    million of dilutive shares has been taken into account for the year ended 30
    June 2018 (2017: 13 million shares; 2016: nil). The Group's only potential
    dilutive ordinary shares are share awards granted under employee share
    ownership plans. Diluted earnings per share calculation excludes instruments
    which are considered antidilutive.

    The conversion of options and share rights would decrease the loss per share
    for the year ended 30 June 2016 and  therefore  its impact has been excluded
    from the diluted earnings per share calculation.  At 30 June 2018, there are
    no instruments which are considered antidilutive (2017: nil).

(3) Each American Depositary Share represents twice the earnings for BHP
    ordinary shares.

--------------------------------------------------------------------------------
                     Financial Information                 38

7. Dividends

                                         Year ended      Year ended      Year ended
                                        30 June 2018    30 June 2017    30 June 2016
                                       Per share Total Per share Total Per share Total
                                       US cents  US$M  US cents  US$M  US cents  US$M
                                       --------- ----- --------- ----- --------- -----
Dividends paid during the period/(1)/
Prior year final dividend.............   43.0    2,291   14.0      749   62.0    3,299
Interim dividend......................   55.0    2,930   40.0    2,130   16.0      855
                                         ----    -----   ----    -----   ----    -----
                                         98.0    5,221   54.0    2,879   78.0    4,154
                                         ----    -----   ----    -----   ----    -----

(1) 5.5 per cent dividend on 50,000 preference shares of (Pounds)1 each
    determined and paid annually (2017: 5.5 per cent; 2016: 5.5 per cent).

Dividends paid during the period differs from the amount of dividends paid in
the Cash Flow Statement as a result of foreign exchange gains and losses
relating to the timing of equity distributions between the record date and the
payment date.

Dividends are determined after period-end and contained within the announcement
of the results for the period. Interim dividends are determined in February and
paid in March. Final dividends are determined in August and paid in September.
Dividends determined are not recorded as a liability at the end of the period
to which they relate. Subsequent to the year-end, on 21 August 2018, BHP
Billiton Limited and BHP Billiton Plc determined a final dividend of
63.0 US cents per share (US$3,354 million), which will be paid on 25 September
2018 (2017: final dividend of 43.0 US cents per share - US$2,289 million; 2016:
final dividend of 14.0 US cents per share - US$746 million).

At 30 June 2018, BHP Billiton Limited had 3,212 million ordinary shares on
issue and held by the public and BHP Billiton Plc had 2,112 million ordinary
shares on issue and held by the public. No shares in BHP Billiton Limited were
held by BHP Billiton Plc at 30 June 2018 (2017: nil; 2016: nil).

The Dual Listed Company merger terms require that ordinary shareholders of BHP
Billiton Limited and BHP Billiton Plc are paid equal cash dividends on a per
share basis. Each American Depositary Share (ADS) represents two ordinary
shares of BHP Billiton Limited or BHP Billiton Plc. Dividends determined on
each ADS represent twice the dividend determined on BHP ordinary shares.

BHP Billiton Limited dividends for all periods presented are, or will be, fully
franked based on a tax rate of 30 per cent.

                                                              2018   2017   2016
                                                              US$M   US$M   US$M
                                                             ------ ------ -----
Franking credits as at 30 June.............................. 10,400 10,155 9,640
Franking credits arising from the payment of current tax....  1,330  1,239    81
                                                             ------ ------ -----
Total franking credits available/(1)/....................... 11,730 11,394 9,721
                                                             ------ ------ -----

(1) The payment of the final 2018 dividend determined after 30 June 2018 will
    reduce the franking account balance by US$867 million.

8. Significant events - Samarco dam failure

On 5 November 2015, the Samarco Mineracao S.A. (Samarco) iron ore operation in
Minas Gerais, Brazil, experienced a tailings dam failure that resulted in a
release of mine tailings, flooding the communities of Bento Rodrigues, Gesteira
and Paracatu and impacting other communities downstream (the Samarco dam
failure).

Samarco is jointly owned by BHP Billiton Brasil Ltda (BHP Billiton Brasil) and
Vale S.A. (Vale). BHP Billiton Brasil's 50 per cent interest is accounted for
as an equity accounted joint venture investment. BHP Billiton Brasil does not
separately recognise its share of the underlying assets and liabilities of
Samarco, but instead records the investment as one line on the balance sheet.
Each period, BHP Billiton Brasil recognises its 50 per cent share of Samarco's
profit or loss and adjusts the carrying value of the investment in Samarco
accordingly. Such adjustment continues until the investment carrying value is
reduced to US$ nil, with any additional share of Samarco losses only recognised
to the extent that BHP Billiton Brasil has an obligation to fund the losses, or
when future investment funding is provided. After applying equity accounting,
any remaining carrying value of the investment is tested for impairment.

Any charges relating to the Samarco dam failure incurred directly by BHP
Billiton Brasil or other BHP entities are recognised 100 per cent in the
Group's results.

--------------------------------------------------------------------------------
                     BHP Financial Information             39
                     Year ended 30 June 2018

8. Significant events - Samarco dam failure (continued)

The financial impacts of the Samarco dam failure on the Group's income
statement, balance sheet and cash flow statement for the year ended 30 June 2018
are shown in the table below and have been treated as an exceptional item.

                                                                   Year ended   Year ended   Year ended
                                                                  30 June 2018 30 June 2017 30 June 2016
Financial impacts of Samarco dam failure                              US$M         US$M         US$M
----------------------------------------                          ------------ ------------ ------------
Income statement
Expenses excluding net finance costs:
   Costs incurred directly by BHP Billiton Brasil and other BHP
     entities in relation to the Samarco dam failure/(1)(2)/.....      (57)         (82)          (70)
Loss from equity accounted investments, related impairments and
  expenses:
   Share of loss relating to the Samarco dam failure/(2)(3)/.....      (80)        (134)         (655)
   Impairment of the carrying value of the investment in
     Samarco/(3)/................................................       --           --          (525)
   Samarco dam failure provision/(2)(3)/.........................     (429)         (38)       (1,200)
                                                                      ----         ----        ------
Loss from operations.............................................     (566)        (254)       (2,450)
   Net finance costs.............................................      (84)        (127)           --
                                                                      ----         ----        ------
Loss before taxation.............................................     (650)        (381)       (2,450)
Income tax benefit...............................................       --           --           253
                                                                      ----         ----        ------
Loss after taxation..............................................     (650)        (381)       (2,197)
                                                                      ----         ----        ------
Balance sheet movement
Trade and other payables.........................................        4           (3)          (11)
Investments accounted for using the equity method................       --           --        (1,180)
Deferred tax assets..............................................       --           --          (158)
Provisions.......................................................     (228)         143        (1,200)
Deferred tax liabilities.........................................       --           --           411
                                                                      ----         ----        ------
Net (liabilities)/assets.........................................     (224)         140        (2,138)
                                                                      ----         ----        ------

                                                                                  Year ended   Year ended   Year ended
                                                                                 30 June 2018 30 June 2017 30 June 2016
                                                                                     US$M         US$M         US$M
                                                                                 ------------ ------------ ------------
Cash flow statement
Loss before taxation......................................................           (650)         (381)         (2,450)

Adjustments for:

Share of loss relating to the Samarco dam failure/(2)(3)/.................     80          134            655
Impairment of the carrying value of the investment
  in Samarco/(3)/.........................................................     --           --            525
Samarco dam failure provision/(2)(3)/.....................................    429           38           1,200
Net finance costs/(2)/....................................................     84          127            --
                                                                           ------        ------         ------
Change in assets and liabilities:
Trade and other payables..........................................            (4)            3             11
                                                                                     ----          ----          ------
Net operating cash flows..................................................            (61)          (79)            (59)
                                                                                     ----          ----          ------
Net investment and funding of equity accounted investments/(4)/...........           (365)         (442)             --
                                                                                     ----          ----          ------
Net investing cash flows..................................................           (365)         (442)             --
                                                                                     ----          ----          ------
Net decrease in cash and cash equivalents.................................           (426)         (521)            (59)
                                                                                     ----          ----          ------

(1) Includes legal and advisor costs incurred.
(2) Financial impacts of US$(650) million from the Samarco dam failure relates
    to US$(80) million share of loss from US$(80) million funding provided
    during the period, US$(57) million direct costs incurred by BHP Billiton
    Brasil Ltda and other BHP entities, US$(84) million amortisation of
    discounting impacting net finance costs, US$(560) million change in estimate
    and US$131 million exchange translation.
(3) At 30 June 2016, BHP Billiton Brasil Ltda adjusted its investment in Samarco
    to US$ nil (resulting from US$(655) million share of loss from Samarco and
    US$(525) million impairment) and recognised a provision of US$(1,200)
    million for obligations under the Framework Agreement. US$(572) million of
    the US$(1,200) million provision represents an additional share of loss from
    Samarco with the remaining US$(628) million recognised as a provision
    expense.
(4) Includes US$(80) million funding provided during the period and US$(285)
    million utilisation of the Samarco dam failure provision, of which US$(281)
    million allowed for the continuation of reparatory and compensatory programs
    in relation to the Framework Agreement and a further US$(4) million for dam
    stabilisation and expert costs.

--------------------------------------------------------------------------------
                     Financial Information                 40

8. Significant events - Samarco dam failure (continued)

Equity accounted investment in Samarco

BHP Billiton Brasil's investment in Samarco remains at US$ nil. BHP Billiton
Brasil provided US$80 million funding under a working capital facility during
the period and recognised additional share of losses of US$80 million. No
dividends have been received by BHP Billiton Brasil from Samarco during the
period. Samarco currently does not have profits available for distribution and
is legally prevented from paying previously declared and unpaid dividends.

Provision for Samarco dam failure

                                                                        2018         2017
                                                                        US$M         US$M
                                                                       ------       ------
At the beginning of the financial year.......................           1,057        1,200
Movement in provision........................................             228         (143)
Comprising:
Utilised.....................................................    (285)        (308)
Adjustments charged to the income statement:
  Change in estimate.........................................     560           60
  Amortisation of discounting impacting net finance costs....      84          127
Exchange translation.........................................    (131)         (22)
                                                               ------         ----
At the end of the financial year.............................           1,285        1,057
                                                                        -----       ------
Comprising:
  Current....................................................             313          310
  Non-current................................................             972          747
                                                                        -----       ------
At the end of the financial year.............................           1,285        1,057
                                                                        -----       ------

Dam failure provisions and contingencies

As at 30 June 2018, BHP Billiton Brasil has identified provisions and contingent
liabilities arising as a consequence of the Samarco dam failure as follows:

Environment and socio-economic remediation

Framework Agreement

On 2 March 2016, BHP Billiton Brasil, together with Samarco and Vale, entered
into a Framework Agreement with the Federal Government of Brazil, the states of
Espirito Santo and Minas Gerais and certain other public authorities to
establish a foundation (Fundacao Renova) that will develop and execute
environmental and socio-economic programs (Programs) to remediate and provide
compensation for damage caused by the Samarco dam failure. A committee
(Interfederative Committee) comprising representatives from the Brazilian
Federal and State Governments, local municipalities, environmental agencies,
impacted communities and Public Defence Office oversees the activities of the
Fundacao Renova in order to monitor, guide and assess the progress of actions
agreed in the Framework Agreement.

The term of the Framework Agreement is 15 years, renewable for periods of one
year successively until all obligations under the Framework Agreement have been
performed. Under the Framework Agreement, Samarco is responsible for funding
Fundacao Renova's annual calendar year budget for the duration of the Framework
Agreement. The funding amounts for each calendar year will be dependent on the
remediation and compensation projects to be undertaken in a particular year.
Annual contributions may be reviewed under the Framework Agreement. To the
extent that Samarco does not meet its funding obligations under the Framework
Agreement, each of Vale and BHP Billiton Brasil has funding obligations under
the Framework Agreement in proportion to its 50 per cent shareholding in
Samarco.

On 29 June 2018, BHP Billiton Brasil announced funding of US$158 million to
support Fundacao Renova for the six months to 31 December 2018, in the event
Samarco does not meet its funding obligations under the Framework Agreement.
Any support to Fundacao Renova provided by BHP Billiton Brasil will be offset
against the provision for the Samarco dam failure.

--------------------------------------------------------------------------------
                     BHP Financial Information             41
                     Year ended 30 June 2018

8. Significant events - Samarco dam failure (continued)

On 25 June 2018 a Governance Agreement (defined below), was entered into
providing for the settlement of the R$20 billion (approximately US$5.2 billion)
public civil claim, suspension of the R$155 billion (approximately
US$40 billion) Federal Public Prosecution Office claim for 24 months, partial
ratification of the Framework Agreement and a formal declaration that the
Framework Agreement remains valid for the signing parties. On 8 August 2018 the
12th Federal Court of Minas Gerais ratified the Governance Agreement.

Mining and processing operations remain suspended following the dam failure.
Samarco is currently progressing plans to resume operations, however
significant uncertainties surrounding the nature and timing of ongoing future
operations remain. In light of these uncertainties and based on currently
available information, at 30 June 2018, BHP Billiton Brasil's provision for its
obligations under the Framework Agreement is US$1.3 billion before tax and
after discounting (30 June 2017:US$1.1 billion).

Key judgements and estimates

The measurement of the provision requires the use of significant judgements,
estimates and assumptions.

The provision reflects the estimated remaining costs to complete Programs under
the Framework Agreement, of which 65 per cent are expected to be incurred by
December 2020.

The provision may be affected by factors including, but not limited to:

.   potential changes in scope of work and funding amounts required under the
    Framework Agreement including the impact of the decisions of the
    Interfederative Committee along with further technical analysis and
    community participation required under the Preliminary Agreement and
    Governance Agreement;

.   the outcome of ongoing negotiations with State and Federal Prosecutors;

.   actual costs incurred;

.   resolution of uncertainty in respect of operational restart;

.  updates to discount and foreign exchange rates;

.   resolution of existing and potential legal claims;

.   the status of the Framework Agreement and the renegotiation process
    established in the Governance Agreement.

Given these factors, future actual expenditures may differ from the amounts
currently provided and changes to key assumptions and estimates could result in
a material impact to the provision in future reporting periods.

Preliminary Agreement

On 18 January 2017, BHP Billiton Brasil, together with Samarco and Vale,
entered into a Preliminary Agreement with the Federal Prosecutors' Office in
Brazil, which outlines the process and timeline for further negotiation towards
a settlement regarding the R$20 billion (approximately US$5.2 billion) public
civil claim and R$155 billion (approximately US$40 billion) Federal Public
Prosecution Office claim relating to the dam failure.

The Preliminary Agreement provides for the appointment of experts to advise the
Federal Prosecutors in relation to social and environmental remediation and the
assessment and monitoring of programs under the Framework Agreement. The expert
advisors' conclusions are not binding on BHP Billiton Brasil, Samarco or Vale
but will be considered in the negotiation of a final settlement arrangement
with the Federal Prosecutors.

Under the Preliminary Agreement, BHP Billiton Brasil, Samarco and Vale agreed
interim security (Interim Security) comprising R$1.3 billion (approximately
US$335 million) in insurance bonds, R$100 million (approximately US$25 million)
in liquid assets, a charge of R$800 million (approximately US$210 million) over
Samarco's assets, and R$200 million (approximately US$50 million) to be
allocated within the next four years through existing Framework Agreement
programs in the Municipalities of Barra Longa, Rio Doce, Santa Cruz do
Escalvado and Ponte Nova.

--------------------------------------------------------------------------------
                     Financial Information                 42

8. Significant events - Samarco dam failure (continued)

On 24 January 2017, BHP Billiton Brasil, Samarco and Vale provided the Interim
Security to the Court, which was to remain in place until the earlier of
30 June 2017 and the date that a final settlement arrangement was agreed
between the Federal Prosecutors, and BHP Billiton Brasil, Vale and Samarco.
Following a series of extensions, on 25 June 2018 the parties reached an
agreement in the form of the Governance Agreement (summarised below).

Governance Agreement

On 25 June 2018, BHP Billiton Brasil, Samarco, Vale, the other parties to the
Framework Agreement, the Public Prosecutors Office and the Public Defence
Office agreed an arrangement which settles the R$20 billion (approximately
US$5.2 billion) public civil claim, enhances community participation in
decisions related to Programs under the Framework Agreement and establishes a
process to renegotiate the Programs over two years to progress settlement of
the R$155 billion (approximately US$40 billion) Federal Public Prosecution
Office claim (Governance Agreement).

Renegotiation of the Programs will be based on certain agreed principles such
as full reparation consistent with Brazilian law, the requirement for a
technical basis for any proposed changes, consideration of findings from
experts appointed by BHP Billiton Brasil, Samarco and Vale, consideration of
findings from experts appointed by Prosecutors and consideration of feedback
from impacted communities. During the renegotiation period and up until
revisions to the Programs are agreed, the Fundacao Renova will continue to
implement the Programs in accordance with the terms of the Framework Agreement
and the Governance Agreement.

The Governance Agreement was ratified by the 12th Federal Court of Minas Gerais
on 8 August 2018 settling the R$20 billion (approximately US$5.2 billion)
public civil claim and suspending the R$155 billion (approximately
US$40 billion) Federal Public Prosecution Office claim for a period of two
years from the date of ratification.

Interim Security provided under the Preliminary Agreement is maintained for a
period of 30 months under the Governance Agreement, after which BHP Billiton
Brasil, Vale and Samarco will be required to provide security of an amount
equal to the Fundacao Renova's annual budget up to a limit of R$2.2 billion
(approximately US$570 million).

Legal

The following matters are disclosed as contingent liabilities and given the
status of proceedings it is not possible to provide a range of possible
outcomes or a reliable estimate of potential future exposures for BHP, unless
otherwise stated. Ultimately, all the legal matters disclosed as contingent
liabilities could have a material adverse impact on BHP's business, competitive
position, cash flows, prospects, liquidity and shareholder returns.

Public civil claim

Among the claims brought against BHP Billiton Brasil, was a public civil claim
commenced by the Federal Government of Brazil, states of Espirito Santo, Minas
Gerais and other public authorities on 30 November 2015, seeking the
establishment of a fund of up to R$20 billion (approximately US$5.2 billion) in
aggregate for clean-up costs and damages.

Ratification of the Governance Agreement on 8 August 2018 settled this public
civil claim, including a R$1.2 billion (approximately US$310 million)
injunction order.

Federal Public Prosecution Office claim

BHP Billiton Brasil is among the defendants named in a claim brought by the
Federal Public Prosecution Office on 3 May 2016, seeking R$155 billion
(approximately US$40 billion) for reparation, compensation and moral damages in
relation to the Samarco dam failure.

The 12th Federal Court previously suspended the Federal Public Prosecution
Office claim, including a R$7.7 billion (approximately US$2 billion) injunction
request. Suspension of the claim continues for a period of two years from the
date of ratification of the Governance Agreement on 8 August 2018.

--------------------------------------------------------------------------------
                     BHP Financial Information             43
                     Year ended 30 June 2018

8. Significant events - Samarco dam failure (continued)

United States class action complaint

In February 2016, a putative class action complaint (Complaint) was filed in
the U.S. District Court for the Southern District of New York on behalf of
purchasers of American Depositary Receipts (Plaintiffs) of BHP Billiton Limited
and BHP Billiton Plc (Defendants) between 25 September 2014 and 30 November
2015 against BHP Billiton Limited and BHP Billiton Plc and certain of its
current and former executive officers and directors.

Claims against current and former executive officers were subsequently
dismissed. On 6 August 2018 the parties reached an in-principle settlement
agreement of US$50 million to resolve all claims with no admission of liability
by the Defendants. The agreement is subject to Court approval. BHP expects to
recover the majority of the settlement payment under its external insurance
arrangements (refer BHP Insurance below).

United States class action complaint - Samarco bond holders

On 14 November 2016, a putative class action complaint (Complaint) was filed in
the U.S. District Court for the Southern District of New York on behalf of all
purchasers of Samarco's ten-year bond notes (Plaintiff) due 2022-2024 between
31 October 2012 and 30 November 2015 against Samarco and the former chief
executive officer of Samarco (Defendants).

The Complaint was subsequently amended to include BHP Billiton Limited, BHP
Billiton Plc, BHP Billiton Brasil Ltda, Vale S.A. and officers of Samarco,
including four of Vale S.A. and BHP Billiton Brasil Ltda's nominees to the
Samarco Board (Defendants). On 5 April 2017, the Plaintiff dismissed the claims
against the individuals. The remaining corporate defendants filed a joint
motion to dismiss the Plaintiff's Complaint on 26 June 2017.

On 7 March 2018, the District Court granted the Defendants' motion to dismiss
the Complaint, however, the District Court granted the Plaintiff leave to file
a second amended Complaint, which it did on 21 March 2018. On 21 May 2018, the
Defendants moved to dismiss the Complaint. The Defendants' motion is pending
before the District Court.

The amount of damages sought by the Plaintiff on behalf of the putative class
is unspecified.

Australian class action complaint

On 31 May 2018, a shareholder class action was filed in the Federal Court of
Australia against BHP Billiton Ltd on behalf of persons (Plaintiffs) who,
during the period from 21 October 2013 to 9 November 2015, acquired BHP
Billiton Ltd shares on the Australian Securities Exchange or BHP Billiton Plc
shares on the London Stock Exchange or Johannesburg Stock Exchange.

The amount of damages sought by the Plaintiffs on behalf of the class is
unspecified.

 
Criminal charges

The Federal Prosecutors' Office has filed criminal charges against BHP Billiton
Brasil, Samarco and Vale and certain employees and former employees of BHP
Billiton Brasil (Affected Individuals) in the Federal Court of Ponte Nova,
Minas Gerais. On 3 March 2017, BHP Billiton Brasil filed its preliminary
defences. BHP Billiton Brasil rejects outright the charges against the company
and the Affected Individuals and will defend the charges and fully support each
of the Affected Individuals in their defence of the charges.

Other claims

The civil public actions filed by State Prosecutors in Minas Gerais (claiming
damages of approximately R$7.5 billion, US$2 billion), State Prosecutors in
Espirito Santo (claiming damages of approximately R$2 billion, US$520 million),
and public defenders in Minas Gerais (claiming damages of approximately
R$10 billion, US$2.6 billion), have been consolidated before the 12th Federal
Court and suspended. The Governance Agreement provides for a process to review
whether these civil public claims should be terminated or suspended.

--------------------------------------------------------------------------------
                     Financial Information                 44

8. Significant events - Samarco dam failure (continued)

BHP Billiton Brasil is among the companies named as defendants in a number of
legal proceedings initiated by individuals, non-governmental organisations
(NGOs), corporations and governmental entities in Brazilian Federal and State
courts following the Samarco dam failure. The other defendants include Vale,
Samarco and Fundacao Renova. The lawsuits include claims for compensation,
environmental rehabilitation and violations of Brazilian environmental and other
laws, among other matters. The lawsuits seek various remedies including
rehabilitation costs, compensation to injured individuals and families of the
deceased, recovery of personal and property losses, moral damages and injunctive
relief. In addition, government inquiries and investigations relating to the
Samarco dam failure have been commenced by numerous agencies of the Brazilian
government and are ongoing.

Additional lawsuits and government investigations relating to the Samarco dam
failure could be brought against BHP Billiton Brasil and possibly other BHP
entities in Brazil or other jurisdictions.

BHP insurance

BHP has various third party liability insurances for claims related to the
Samarco dam failure made directly against BHP Billiton Brasil or other BHP
entities, their directors and officers, including class actions. External
insurers have been advised of the Samarco dam failure, the third party claims
and the class actions referred to above and formal claims have been prepared
and submitted. As noted above, BHP expects to recover the majority of the
settlement payment relating to the United States class action complaint under
its external insurance arrangements.

At 30 June 2018, an insurance receivable has not been recognised for any
potential recoveries in respect of ongoing matters.

Commitments

Under the terms of the Samarco joint venture agreement, BHP Billiton Brasil
does not have an existing obligation to fund Samarco. For the year ended
30 June 2018, BHP Billiton Brasil has provided US$80 million funding to support
Samarco's operations and a further US$4 million for dam stabilisation and
prosecutor experts costs, with undrawn amounts of US$16 million expiring as at
30 June 2018. On 29 June 2018, BHP Billiton Brasil made available a new
short-term facility of up to US$53 million to carry out remediation and
stabilisation work and support Samarco's operations. Funds will be released to
Samarco only as required and subject to the achievement of key milestones with
amounts undrawn expiring at 31 December 2018.

Any additional requests for funding or future investment provided would be
subject to a future decision, accounted for at that time.

9. Discontinued operations

On 27 July 2018 BHP announced that it had entered into agreements for the sale
of its entire interests in its Eagle Ford, Haynesville, Permian and
Fayetteville Onshore US oil and gas assets for a combined base consideration of
US$10.8 billion, payable in cash.

BP American Production Company, a wholly owned subsidiary of BP Plc, has agreed
to acquire 100 per cent of the issued share capital of Petrohawk Energy
Corporation, the BHP subsidiary which holds the Eagle Ford (being Black Hawk
and Hawkville), Haynesville and Permian assets, for a consideration of
US$10.5 billion (less customary completion adjustments), comprising 50 per cent
paid in cash at completion and 50 per cent in deferred consideration, payable
in cash over a six month period.

MMGJ Hugoton III, LLC, a company owned by Merit Energy Company, has agreed to
acquire 100 per cent of the issued share capital of BHP Billiton Petroleum
(Arkansas) Inc. and 100 per cent of the membership interests in BHP Billiton
Petroleum (Fayetteville) LLC, which hold the Fayetteville assets, for a total
consideration of US$0.3 billion (less customary completion adjustments), paid
in cash at completion.

Both sales are subject to the satisfaction of customary regulatory approvals
and conditions precedent and are expected to complete by the end of October
2018.

--------------------------------------------------------------------------------
                     BHP Financial Information             45
                     Year ended 30 June 2018

9. Discontinued operations (continued)

The contribution of Discontinued operations included within the Group's profit
and cash flows are detailed below:

Income statement - Discontinued operations

                                                            Year ended   Year ended   Year ended
                                                           30 June 2018 30 June 2017 30 June 2016
                                                               US$M        US$M         US$M
                                                           ------------ ------------ ------------
Revenue...................................................     2,171       2,150        2,345
Other income..............................................        34          74           12
Expenses excluding net finance costs......................    (5,790)     (3,025)     (11,396)
                                                              ------      ------      -------
Loss from operations......................................    (3,585)       (801)      (9,039)
                                                              ------      ------      -------
Financial expenses........................................       (22)        (14)         (11)
                                                              ------      ------      -------
Net finance costs.........................................       (22)        (14)         (11)
                                                              ------      ------      -------
Loss before taxation......................................    (3,607)       (815)      (9,050)
                                                              ------      ------      -------
Income tax benefit........................................       686         343        3,155
                                                              ------      ------      -------
Loss after taxation.......................................    (2,921)       (472)      (5,895)
                                                              ------      ------      -------
  Attributable to non-controlling interests...............        26          13          (49)
  Attributable to BHP shareholders........................    (2,947)       (485)      (5,846)
                                                              ------      ------      -------
Basic loss per ordinary share (cents).....................     (55.4)       (9.1)      (109.8)
Diluted loss per ordinary share (cents)...................     (55.4)       (9.1)      (109.8)
                                                              ------      ------      -------

The total comprehensive income attributable to BHP shareholders from
Discontinued operations was a loss of US$2,943 million (2017: loss of US$489
million; 2016: loss of US$5,846 million).

Cash flows from Discontinued operations

                                                            Year ended   Year ended   Year ended
                                                           30 June 2018 30 June 2017 30 June 2016
                                                               US$M         US$M         US$M
                                                           ------------ ------------ ------------
Net operating cash flows..................................       900         928           785
Net investing cash flows/(1)/.............................      (861)       (437)       (1,227)
Net financing cash flows/(2)/.............................       (40)        (28)          (32)
                                                                ----        ----        ------
Net (decrease)/increase in cash and cash equivalents from
  Discontinued operations.................................        (1)        463          (474)
                                                                ----        ----        ------

(1) Includes purchases of property, plant and equipment of US$900 million (2017:
    US$555 million; 2016: US$1,239 million), capitalised exploration of US$ nil
    million (2017: US$ nil million; 2016: US$2 million) less proceeds from sale
    of assets of US$39 million (2017: US$118 million; 2016: US$14 million).

(2) Includes net repayment of interest bearing liabilities of US$4 million
    (2017: US$6 million; 2016: US$7 million), distribution/(contribution) to
    non-controlling interests of US$14 million (2017: US$16 million; 2016:
    US$(1) million) and dividends paid to non-controlling interests of US$22
    million (2017: US$6 million; 2016: US$26 million).

Assets and liabilities held for sale

The assets and liabilities classified as current assets and liabilities held
for sale are presented in the table below:

                                                       2018
                                                       US$M
                                                      ------
Assets
Trade and other receivables..........................    529
Other financial assets...............................      2
Inventories..........................................     36
Property, plant and equipment........................ 10,672
Intangible assets....................................    667
Other................................................     33
                                                      ------
Total assets......................................... 11,939
                                                      ------
Liabilities
Trade and other payables.............................    725
Interest bearing liabilities.........................      5
Other financial liabilities..........................      3
Provisions...........................................    489
                                                      ------
Total liabilities....................................  1,222
                                                      ------
Net assets........................................... 10,717
                                                      ------

--------------------------------------------------------------------------------
                     Financial Information                 46

9. Discontinued operations (continued)

Exceptional items - Discontinued operations

Exceptional items are those gains or losses where their nature, including the
expected frequency of the events giving rise to them, and amount is considered
material to the Financial Statements. Such items related to Discontinued
operations included within the Group's profit for the year are detailed below:

                                                    Gross    Tax      Net
Year ended 30 June 2018                             US$M     US$M     US$M
--------------------------------                  -------- -------- -------
Exceptional items by category
US tax reform....................................      --     492      492
Impairment of Onshore US assets..................  (2,859)    109   (2,750)
                                                   ------     ---   ------
Total............................................  (2,859)    601   (2,258)
                                                   ------     ---   ------
Attributable to non-controlling interests........      --      --       --
Attributable to BHP shareholders.................  (2,859)    601   (2,258)
                                                   ------     ---   ------

US tax reform

On 22 December 2017, the US President signed the Tax Cuts and Jobs Act (TCJA)
into law. The TCJA (effective 1 January 2018) includes a broad range of tax
reforms affecting the Group, including, but not limited to, a reduction in the
US corporate tax rate from 35 per cent to 21 per cent and changes to
international tax provisions. As a result of the TCJA, the Group has recognised
an exceptional income tax benefit of US$492 million, primarily relating to the
re-measurement of the Onshore US deferred tax positions arising from temporary
differences.

Impairment of Onshore US assets

For the purposes of assessing impairment, assets are grouped at the lowest
levels for which there are separately identifiable cash flows. At 30 June 2018,
the Onshore US assets, including goodwill, have been allocated to two cash
generation units (CGU) reflecting the separately identifiable cash flows
expected from the divestment of the assets.

The Group recognised impairment charges as follows:

                                             Property, plant and
                                                   equipment       Goodwill     Total
Cash generating unit                                 US$M            US$M       US$M
--------------------------------            ---------------------  ---------- ---------
Petrohawk...............................               --           (2,253)    (2,253)
Fayetteville............................             (520)             (86)      (606)
                                                     ----           ------     ------
Total impairment of non-current assets..             (520)          (2,339)    (2,859)
                                                     ----           ------     ------

The charges are based on the fair value of the agreed sales consideration (Level
2 of the fair value hierarchy) less expected costs of disposal. In previous
reporting periods the Group performed impairment testing of the individual
Onshore US assets as each asset had separately identifiable cash flows. In
addition, the goodwill attributable to the Onshore US group of CGUs (2017:
US$3,022 million) was tested for impairment after the assessment of the
individual CGUs. The recoverable amount determinations for the Onshore US CGUs
were based on FVLCD using discounted cash flow techniques. The FVLCD
calculations were based primarily on Level 3 inputs and significant assumptions
included management's assessment of a market participant's perspective of crude
oil and natural gas prices, production volumes and discount rates.

--------------------------------------------------------------------------------
                     BHP Financial Information             47
                     Year ended 30 June 2018

9. Discontinued operations (continued)

Year ended 30 June 2017

There were no exceptional items related to Discontinued operations for the year
ended 30 June 2017.

Items related to Discontinued operations included within the Group's profit for
the year ended 30 June 2016 are detailed below:

                                                    Gross    Tax      Net
Year ended 30 June 2016                             US$M     US$M     US$M
--------------------------------                  -------- ------- ---------
Exceptional items by category
Impairment of Onshore US assets..................  (7,184)  2,300   (4,884)
                                                   ------   -----   ------
Total............................................  (7,184)  2,300   (4,884)
                                                   ------   -----   ------
Attributable to non-controlling interests........     (80)     29      (51)
Attributable to BHP shareholders.................  (7,104)  2,271   (4,833)
                                                   ------   -----   ------

10. Subsequent events

Other than the matters outlined elsewhere in this financial information, no
matters or circumstances have arisen since the end of the financial year that
have significantly affected, or may significantly affect, the operations,
results of operations or state of affairs of the Group in subsequent accounting
periods.

--------------------------------------------------------------------------------
                     Financial Information                 48

LOGO

BHP
Restated Financial
Information
For the half year ended
31 December 2017

--------------------------------------------------------------------------------

Contents

Restated financial information                                             Page

Basis of preparation of restated financial information ..................... 51

Consolidated Income Statement - Restated ................................... 52

Consolidated Statement of Comprehensive Income ............................. 52

Consolidated Balance Sheet ................................................. 53

Consolidated Cash Flow Statement - Restated ................................ 54

Consolidated Statement of Changes in Equity ................................ 55

Restated supplementary financial information ............................... 56

--------------------------------------------------------------------------------
                     Restated Financial Information        50

Basis of preparation of restated financial information

This financial information for the half year ended 31 December 2017 for the
Group is not audited and has been prepared to restate previously published
information for the effects of applying IFRS 5/AASB 5 'Non-current Assets Held
for Sale and Discontinued Operations' to the Petroleum business's Onshore US
operations comprising the Eagle Ford, Permian, Haynesville and Fayetteville
assets. The nature of each change reflected in the attached restated financial
information is as follows:

.   All income and expense items relating to the Onshore US operations have been
    removed from the individual line items in the Consolidated Income Statement.
    The  post-tax  loss of the Onshore US  operations  is  presented as a single
    amount  in the line item  titled  'Loss  after  taxation  from  Discontinued
    operations'; and

.   All cash flows and other items relating to the Onshore US operations have
    been removed from the individual  line items in the  Consolidated  Cash Flow
    Statement.  The net cash flows attributable to the operating,  investing and
    financing  activities  of the Onshore US  operations  are each  disclosed in
    single amounts in each section of the Consolidated Cash Flow Statement.

This restated financial information has also been reclassified where required
for consistency with the presentation of financial information for the year 
30 June 2018.

The Consolidated Balance Sheet, the Consolidated Statement of Comprehensive
Income and the Consolidated Statement of Changes in Equity for these periods are
not required to be restated.

--------------------------------------------------------------------------------
                     BHP Restated Financial Information    51
                     For the half year ended
                     31 December 2017

Consolidated Income Statement - Restated

                                                                                      Half year
                                                                                        ended
                                                                                        31 Dec
                                                                                         2017
                                                                                         US$M
                                                                                     ----------
Continuing operations
Revenue.........................................................................       20,777
Other income....................................................................          123
Expenses excluding net finance costs............................................      (13,948)
Profit from equity accounted investments, related impairments and expenses......          213
                                                                                      -------
Profit from operations..........................................................        7,165
                                                                                      -------

Financial expenses..............................................................         (737)
Financial income................................................................           79
                                                                                      -------
Net finance costs...............................................................         (658)
                                                                                      -------
Profit before taxation..........................................................        6,507
                                                                                      -------

Income tax expense..............................................................       (4,057)
Royalty-related taxation (net of income tax benefit)............................          (44)
                                                                                      -------
Total taxation expense..........................................................       (4,101)
                                                                                      -------
Profit after taxation from Continuing operations................................        2,406
                                                                                      -------
Discontinued operations
Profit after taxation from Discontinued operations..............................          168
                                                                                      -------
Profit after taxation from Continuing and Discontinued operations...............        2,574
                                                                                      -------
  Attributable to non-controlling interests.....................................          559
  Attributable to BHP shareholders..............................................        2,015
                                                                                      -------
Basic earnings per ordinary share (cents).......................................         37.9
Diluted earnings per ordinary share (cents).....................................         37.7
Basic earnings from Continuing operations per ordinary share (cents)............         35.1
Diluted earnings from Continuing operations per ordinary share (cents)..........         35.0
                                                                                      -------

Consolidated Statement of Comprehensive Income

                                                                                      Half year
                                                                                        ended
                                                                                        31 Dec
                                                                                         2017
                                                                                         US$M
                                                                                     ----------
Profit after taxation from Continuing and Discontinued operations...............        2,574
Other comprehensive income
Items that may be reclassified subsequently to the income statement:
Available for sale investments:
  Net valuation gains taken to equity...........................................           10
  Net valuation losses/(gains) transferred to the income statement..............           --
Cash flow hedges:
  Gains taken to equity.........................................................          666
  Gains transferred to the income statement.....................................         (623)
Exchange fluctuations on translation of foreign operations taken to equity......           (1)
Exchange fluctuations on translation of foreign operations transferred to
  income statement..............................................................           --
Tax recognised within other comprehensive income................................          (15)
                                                                                        -----
Total items that may be reclassified subsequently to the income statement.......           37
                                                                                        -----
Items that will not be reclassified to the income statement:
Remeasurement gains on pension and medical schemes..............................            2
Tax recognised within other comprehensive income................................           (3)
                                                                                        -----
Total items that will not be reclassified to the income statement...............           (1)
                                                                                        -----
Total other comprehensive income................................................           36
                                                                                        -----
Total comprehensive income......................................................        2,610
                                                                                        -----
  Attributable to non-controlling interests.....................................          561
  Attributable to BHP shareholders..............................................        2,049
                                                                                        -----

--------------------------------------------------------------------------------
                     Restated Financial Information        52

Consolidated Balance Sheet
                                                                                    31 Dec 2017
                                                                                        US$M
                                                                                   ------------
ASSETS
Current assets
Cash and cash equivalents.......................................................       12,322
Trade and other receivables.....................................................        3,542
Other financial assets..........................................................           51
Inventories.....................................................................        4,020
Current tax assets..............................................................           97
Other...........................................................................          111
                                                                                      -------
Total current assets............................................................       20,143
                                                                                      -------
Non-current assets
Trade and other receivables.....................................................          319
Other financial assets..........................................................        1,501
Inventories.....................................................................        1,019
Property, plant and equipment...................................................       78,849
Intangible assets...............................................................        3,873
Investments accounted for using the equity method...............................        2,456
Deferred tax assets.............................................................        4,355
Other...........................................................................           67
                                                                                      -------
Total non-current assets.......................................................        92,439
                                                                                      -------
Total assets....................................................................      112,582
                                                                                      -------
LIABILITIES
Current liabilities
Trade and other payables........................................................        5,999
Interest bearing liabilities....................................................        2,033
Other financial liabilities.....................................................          217
Current tax payable.............................................................        1,438
Provisions......................................................................        1,780
Deferred income.................................................................           63
                                                                                      -------
Total current liabilities                                                              11,530
                                                                                      -------
Non-current liabilities
Trade and other payables........................................................            6
Interest bearing liabilities....................................................       25,700
Other financial liabilities.....................................................          633
Non-current tax payable.........................................................          134
Deferred tax liabilities........................................................        3,526
Provisions......................................................................        8,542
Deferred income.................................................................          350
                                                                                      -------
Total non-current liabilities...................................................       38,891
                                                                                      -------
Total liabilities...............................................................       50,421
                                                                                      -------
Net assets......................................................................       62,161
                                                                                      -------
EQUITY
Share capital - BHP Billiton Limited............................................        1,186
Share capital - BHP Billiton Plc................................................        1,057
Treasury shares.................................................................           (8)
Reserves........................................................................        2,391
Retained earnings...............................................................       52,351
                                                                                      -------
Total equity attributable to BHP shareholders...................................       56,977
Non-controlling interests.......................................................        5,184
                                                                                      -------
Total equity....................................................................       62,161
                                                                                      -------

--------------------------------------------------------------------------------
                     BHP Restated Financial Information    53
                     For the half year ended
                     31 December 2017

Consolidated Cash Flow Statement - Restated

                                                                                      Half year
                                                                                        ended
                                                                                        31 Dec
                                                                                         2017
                                                                                         US$M
                                                                                     ----------
Operating activities
Profit before taxation.....................................................             6,507
Adjustments for:
  Depreciation and amortisation expense.....................................            3,206
  Impairments of property, plant and equipment, financial assets and
    intangibles.............................................................              299
  Net finance costs.........................................................              658
  Profit from equity accounted investments, related impairments and expenses..           (213)
  Other.....................................................................              321
Changes in assets and liabilities:
  Trade and other receivables..............................................              (672)
  Inventories..............................................................              (279)
  Trade and other payables.................................................               331
  Provisions and other assets and liabilities..............................              (123)
                                                                                       ------
Cash generated from operations.............................................            10,035
Dividends received.........................................................               370
Interest received..........................................................                79
Interest paid..............................................................              (557)
Settlement of cash management related instruments..........................              (275)
Net income tax and royalty-related taxation refunded.......................                39
Net income tax and royalty-related taxation paid...........................            (2,698)
                                                                                       ------
Net operating cash flows from Continuing operations........................             6,993
                                                                                       ------
Net operating cash flows from Discontinued operations.....................                350
                                                                                       ------
Net operating cash flows...................................................             7,343
                                                                                       ------
Investing activities
Purchases of property, plant and equipment.................................            (2,078)
Exploration expenditure....................................................              (464)
Exploration expenditure expensed and included in operating cash flows......               192
Net investment and funding of equity accounted investments.................               271
Proceeds from sale of assets...............................................                72
Proceeds from divestment of subsidiaries, operations and joint operations,
  net of their cash........................................................                --
Other investing............................................................              (138)
                                                                                       ------
Net investing cash flows from Continuing operations........................            (2,145)
                                                                                       ------
Net investing cash flows from Discontinued operations......................              (301)
                                                                                       ------
Net investing cash flows...................................................            (2,446)
                                                                                       ------
Financing activities
Proceeds from interest bearing liabilities.................................               500
Settlements from debt related instruments..................................              (227)
Repayment of interest bearing liabilities..................................            (4,008)
Purchase of shares by Employee Share Ownership Plan (ESOP).................               (96)
Dividends paid.............................................................            (2,276)
Dividends paid to non-controlling interests................................              (925)
                                                                                       ------
Net financing cash flows from Continuing operations........................            (7,032)
                                                                                       ------
Net financing cash flows from Discontinued operations......................               (27)
                                                                                       ------
Net financing cash flows ..................................................            (7,059)
                                                                                       ------
Net decrease in cash and cash equivalents from Continuing operations ......            (2,184)
Net increase in cash and cash equivalents from Discontinued operations.....                22
Cash and cash equivalents, net of overdrafts, at the beginning of the
  financial year...........................................................            14,108
Foreign currency exchange rate changes on cash and cash equivalents........               331
                                                                                       ------
Cash and cash equivalents, net of overdrafts, at end of period.............            12,277
                                                                                       ------

--------------------------------------------------------------------------------
                     Restated Financial Information        54

Consolidated Statement of Changes in Equity for the half year ended 31 December
2017

                                                    Attributable to BHP shareholders
                                  --------------------------------------------------------------------
                                   Share capital    Treasury shares
                                  ----------------- -----------------                    Total equity
                                    BHP      BHP      BHP      BHP                      attributable to    Non-
                                  Billiton Billiton Billiton Billiton          Retained       BHP       controlling Total
                                  Limited    Plc    Limited    Plc    Reserves earnings  shareholders    interests  equity
                                  -------- -------- -------- -------- -------- -------- --------------- ----------- ------

Balance as at 1 July 2017........  1,186    1,057      (2)      (1)    2,400    52,618      57,258         5,468    62,726
                                   -----    -----     ---      ----    -----    ------      ------         -----    ------
Total comprehensive income.......     --       --      --       --        35     2,014       2,049           561     2,610
                                   -----    -----     ---      ----    -----    ------      ------         -----    ------
Transactions with owners:
Purchase of shares by ESOP
  Trusts.........................     --       --     (87)      (9)       --        --         (96)           --       (96)
Employee share awards
  exercised net of employee
  contributions..................     --       --      81       10      (100)        9          --            --        --
Employee share awards
  forfeited......................     --       --      --       --        (1)        1          --            --        --
Accrued employee entitlement
  for unexercised awards.........     --       --      --       --        57        --          57            --        57
Distribution to
  non-controlling interests......     --       --      --       --        --        --          --            (6)       (6)
Dividends........................     --       --      --       --        --    (2,291)     (2,291)         (839)   (3,130)
                                   -----    -----     ---      ----    -----    ------      ------         -----    ------
Balance as at 31 December 2017...  1,186    1,057      (8)      --     2,391    52,351      56,977         5,184    62,161
                                   -----    -----     ---      ----    -----    ------      ------         -----    ------

--------------------------------------------------------------------------------
                     BHP Restated Financial Information    55
                     For the half year ended
                     31 December 2017

Restated supplementary financial information

For the half year ended 31 December 2017

The following pages present the supplementary financial information for the
Group and the Petroleum business for the half year ended 31 December 2017
restated for the effect of the application of IFRS 5/AASB 5 'Non-current Assets
Held for Sale and Discontinued Operations' to the Petroleum business's Onshore
US operations comprising the Eagle Ford, Permian, Haynesville and Fayetteville
assets. All information is reported on a Continuing operations basis.

Segment summary/(1)/

A summary of performance for the December 2017 half year is presented below and
excludes Onshore US.

Half year ended                                                                    Net
31 December 2017                             Underlying  Underlying Exceptional operating   Capital   Exploration  Exploration
US$M                            Revenue/(2)/ EBITDA/(3)/ EBIT/(3)/  Items/(4)/   assets   expenditure gross/(5)/  to profit/(6)/
------------------              -----------  ----------  ---------- ----------- --------- ----------- ----------- -------------
Petroleum......................    2,581        1,633        617         --       8,589        277        378          208
Copper.........................    6,381        3,195      2,052         --      23,983        993         19           19
Iron Ore.......................    7,221        4,307      3,430       (153)     19,135        470         41           10
Coal...........................    4,047        1,790      1,436         --       9,904        185          7            7
Group and unallocated
  items/(7)/...................      591          (89)      (204)       (13)      2,492        153         19           19
Inter-segment adjustment/(8)/..      (44)          --         --         --          --         --         --           --
                                  ------       ------      -----       ----      ------      -----        ---          ---
Total group ...................   20,777       10,836      7,331       (166)     64,103      2,078        464          263
                                  ------       ------      -----       ----      ------      -----        ---          ---

(1) Group and segment level information is reported on a statutory basis which,
    in relation to Underlying EBITDA, includes depreciation, amortisation and
    impairments, net finance costs and taxation expense of US$318 million
    related to equity accounted investments. It excludes exceptional items of
    US$137 million related to share of loss from equity accounted investments.
    Group profit before taxation comprised Underlying EBITDA, exceptional items
    and depreciation, amortisation and impairments of US$3,671 million and net
    finance costs of US$658 million.
(2) Revenue is based on Group realised prices and includes third party
    products. Sale of third party products by the Group contributed revenue of
    US$764 million and Underlying EBITDA of US$29 million.
(3) We use various alternate performance measures to reflect our underlying
    performance.
(4) Exceptional items of US$(166) million excludes net finance costs of
    US$(44) million included in the total US$(210) million related to the
    Samarco dam failure.
(5) Includes US$272 million capitalised exploration.
(6) Includes US$71 million of exploration expenditure previously capitalised,
    written off as impaired (included in depreciation and amortisation).
(7) Group and unallocated items includes Functions, other unallocated
    operations including Potash, Nickel West and consolidation adjustments.
    Revenue not attributable to reportable segments comprises the sale of
    freight and fuel to third parties. Exploration and technology activities
    are recognised within the relevant segments.

Half year ended                                                                       Net
31 December 2017                              Underlying             Underlying  operating   Capital   Exploration  Exploration
US$M                                Revenue     EBITDA       D&A        EBIT      assets   expenditure    gross      to profit
-------------------------------- ------------ ----------- ---------- ----------- --------- ----------- ----------- --------------
Potash......... ................         --       (76)         2         (78)      3,258        117          --            --
Nickel West.... ................        577        71         39          32        (296)        27          19            19

(8) Comprises revenue of US$38 million generated by Petroleum and US$6 million
    generated by Iron Ore.

--------------------------------------------------------------------------------
                     Restated Financial Information        56

Restated financial information for Petroleum for the December 2017 half year is
presented below.

Half year ended                                                                         Net
31 Dec 2017                                           Underlying        Underlying operating   Capital   Exploration  Exploration
US$M                                     Revenue/(1)/   EBITDA    D&A      EBIT     assets   expenditure gross/(2)/  to profit/(3)/
--------------------------------------- ------------ ---------- -----  ---------- --------- ----------- ----------- --------------
Australia Production  Unit/(4)/........       291         206      135       71        828         2
Bass Strait............................       666         512      288      224      2,701        19
North West Shelf.......................       663         497      116      381      1,573        80
Atlantis...............................       355         245      198       47      1,361        71
Shenzi.................................       264         212       94      118        845         5
Mad Dog................................       118          84       28       56        787        47
Trinidad/Tobago........................        64         (60)      19      (79)       290         6
Algeria................................       101          78       14       64         18         3
Exploration............................        --        (136)      98     (234)     1,174        --
Other/(5)/.............................        57           9       28      (19)      (143)       44
                                            -----       -----    -----     ----      -----       ---         ---          ---
Total Petroleum from Group production..     2,579       1,647    1,018      629      9,434       277         378          208
                                            -----       -----    -----     ----      -----       ---         ---          ---
Closed mines/(6)/......................        --         (11)      --      (11)      (845)       --          --           --
Third party products...................        10          (1)      --       (1)        --        --          --           --
                                            -----       -----    -----     ----      -----       ---         ---          ---
Total Petroleum........................     2,589       1,635    1,018      617      8,589       277         378          208
                                            -----       -----    -----     ----      -----       ---         ---          ---
Adjustment for equity accounted
 investments/(7)/......................        (8)         (2)      (2)      --         --        --          --           --
                                            -----       -----    -----     ----      -----       ---         ---          ---
Total Petroleum  statutory result......     2,581       1,633    1,016      617      8,589       277         378          208
                                            -----       -----    -----     ----      -----       ---         ---          ---

(1) Total Petroleum statutory result Revenue from Group production includes:
    crude oil US$1,403 million, natural gas US$581 million, LNG US$423 million,
    NGL US$141 million and other US$33 million which includes third party
    products.
(2) Includes US$241 million of capitalised exploration.
(3) Includes US$71 million of exploration expenditure previously capitalised,
    written off as impaired (included in depreciation and amortisation).
(4) Australia Production Unit includes Macedon, Pyrenees and Minerva.
(5) Predominantly divisional activities, business development, UK, Neptune and
    Genesis. Also includes the Caesar oil pipeline and the Cleopatra gas
    pipeline, which are equity accounted investments. The financial information
    for the Caesar oil pipeline and the Cleopatra gas pipeline presented above,
    with the exception of net operating assets, reflects BHP's share.
(6) Comprises closed mining and smelting operations in Canada and the United
    States. Petroleum manages the closed mines due to their geographic location.
(7) Total Petroleum statutory result Revenue excludes US$8 million revenue
    related to the Caesar oil pipeline and the Cleopatra gas pipeline. Total
    Petroleum statutory result Underlying EBITDA includes US$2 million D&A
    related to the Caesar oil pipeline and the Cleopatra gas pipeline.

--------------------------------------------------------------------------------
                     BHP Restated Financial Information    57
                     For the half year ended
                     31 December 2017
Date: 21/08/2018 07:05:00 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.

Email this JSE Sens Item to a Friend.

Share This Story