Currency conversion to Rand South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX / LSE / JSE Share Code: S32 ADR: SOUHY ISIN: AU000000S320 south32.net CURRENCY CONVERSION TO RAND South32 Limited (ASX, LSE, JSE: S32) (South32) advised on 23 August 2018, the Board resolved to pay a final dividend of US 6.2 cents per share (fully franked) for the full year ended 30 June 2018. The dividend payment date is 11 October 2018. The US cent currency exchange rate applicable to the dividend payable in South African cents, to shareholders on the South African branch register on the Record Date, is: Gross dividends per Net dividends per Dividend Exchange rate ordinary share in South ordinary share in South African Cents African Cents Final dividend 15.21418 94.32792 75.46234 The currency exchange rate is the volume weighted average price achieved on foreign exchange trades executed over the period 4 September 2018 to 10 September 2018. The exchange rates applicable to the South32 dividend being paid in other currencies will be determined over the period 4 September 2018 to 20 September 2018. Details of the currency exchange rates applicable for the dividend will be announced to the relevant stock exchanges. South32 shareholders registered on the South African branch register will not be able to dematerialise or rematerialise their shareholdings between 12 September 2018 and 14 September 2018 (both dates inclusive), nor will transfers to or from the South African branch register be permitted between 7 September 2018 and 14 September 2018 (both dates inclusive). 1. South African dividends tax of 18.86558 South African cents per ordinary share will be withheld from the amount of the gross final dividend of 94.32792 South African cents per ordinary share paid to shareholders on the South African branch register at the rate of 20%, unless a shareholder qualifies for an exemption. 2. After the South African dividends tax has been withheld, the net dividend will be 75.46234 South African cents per ordinary share. 3. Australia is the country of source of income, the dividend is regarded as 'foreign' for the purposes of South African dividends tax. 4. South32 had a total of 5,119,913,775 ordinary shares on issue at the dividend determination date of 23 August 2018. 5. The dividend will be paid out of retained earnings. 6. For the avoidance of doubt, South African dividends tax, and therefore the information provided in this announcement, is of only direct application to shareholders on the South African branch register. Registered Office Level 35 108 St Georges Terrace Perth WA 6000 Australia ABN 84 093 732 597 Registered in Australia 1 Shareholders on the South African branch register should direct any questions regarding the application of the South African dividends tax to Computershare Investor Services online at www.computershare.com/za or by calling +27 (0) 86 110 0950. Holders of shares dematerialised into STRATE should contact their Central Security Depository Participant (CSDP) or stockbroker. For further dividend information, contact Computershare on smart number 0861 100 950 or visit our website (www.south32.net). About South32 South32 is a globally diversified mining and metals company. We produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in Australia, Southern Africa and South America. We also have a high grade zinc, lead and silver development option in North America and several partnerships with junior explorers with a focus on base metals. Our purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come, and to be trusted by our owners and partners to realise the potential of their resources. Dividend timetable Announce currency conversion into Rand 10 September 2018 Last day to trade cum dividend on the Johannesburg Stock Exchange (JSE) 11 September 2018 Ex-dividend date on the JSE 12 September 2018 Ex-dividend date on the ASX and London Stock Exchange (LSE) 13 September 2018 Record date (including currency election date for ASX) 14 September 2018 Payment date 11 October 2018 Further Information Investor Relations Alex Volante Tom Gallop T +61 8 9324 9029 T +61 8 9324 9030 M +61 403 328 408 M +61 439 353 948 E Alex.Volante@south32.net E Tom.Gallop@south32.net Media Relations James Clothier Jenny White T +61 8 9324 9697 T +44 20 7798 1773 M +61 413 391 031 M +44 7900 046 758 E James.Clothier@south32.net E Jenny.White@south32.net Further information on South32 can be found at www.south32.net. JSE Sponsor: UBS South Africa (Pty) Ltd 10 September 2018 2 Date: 10/09/2018 10:24:00 Produced by the JSE SENS Department. 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