Get Connected #1Adelaide, AntofagastaCerro ColoradoEscondida, IquiqueLima, Olympic DamRoxby Downs, SantiagoSpence, Tucson

Olympic Dam, Australia

Positioning ourselves as the world’s best copper business calls for an exemplary performance on health and safety, and I am sure we will be able to achieve it with the efforts of each and every one of us.

Leaders on Site

Safety2

Get Connected is a quarterly publication edited by Copper´s Corporate Affairs.Contact: coppernews@bhpbilliton.com

Critical Controls

Procedures Learnings 3

Everyone goes home safe

I am delighted to present the first edition of this magazine which will help us stay connected as we transform the way we work. I would also like to take this opportunity to mention that, in October, I had the great honour of becoming Copper’s Vice President for HSE.

Fittingly I would like to start off by talking about our safety performance, an area of paramount importance where we still have a lot of work to do.

Positioning ourselves as the world’s best copper business calls for an exemplary performance on health and safety, and I am sure we will be able to achieve it with the efforts of each and every one of us.

At Copper, we are fully aligned with the Company’s most important goal that “Everyone goes home safe”. The commitments we made as part of the Safety Intervention remain key to achieving this goal.

We firmly believe that safety always comes before production and we are reinforcing this principle through our actions, our decisions and our dialogue with

employees through our leaders’ increased field time.

Another area of our work is “Critical Controls Verification” and by this I mean onsite verification by line leaders that these controls are in place and effective.

We are improving investigation quality and sharing learnings from high potential risk incidents on our Portal and are standardising critical controls for the five most important fatality risks - falls from height, contact with electricity, vehicle accidents, lifting manoeuvres and entrapment.

In FY16 so far, we have experienced five recordable injuries with the potential to cause a fatality. We must learn from them and implement controls to prevent re-occurrence. If we don’t we may not be so lucky next time. Three were vehicle accidents and, as a result, we are incorporating vehicles with five-star safety standards, reviewing the design of our internal roads and improving controls against fatigue.

Our focus must continue to be on eliminating fatalities. Maintaining

and reinforcing leadership in safety, individual responsibility and rigorous compliance with our procedures are of prime importance. Care for ourselves and for our colleagues must always be our priority. That is the true key to success!

With my very best wishes,

Matt Currie VP HSE

President of Copper

Daniel Malchuk

4 TrustNewOrganisation

Daniel explains how, based on the new organisational structure, we must build a work culture that helps operations achieve their maximum potential.

More complex deposits. More demanding societies. More unpredictable markets. Scarcer capital. More exacting investors. Who can doubt that mining has become an even more challenging business, obliging its players to react as quickly and effectively as possible.

BHP Billiton has done this in a responsible and planned manner. The launch of South32 in 2015 marked a milestone in

the company’s history. And, at Copper, we implemented the Transformation process in line with Escondida 3.0 as well as Pampa Norte’s Top 3 and Olympic Dam’s ReCuvery. In this interview, the President of Copper talks about that and what the future holds.

GC: Since January 1, we have had a new organisational structure but the change we are aiming to achieve is deeper than that, isn’t it, Daniel? DM: That’s right. What we are really seeking to achieve through the Transformation process is for our operations to reach their maximum potential. And the new structure is a key tool for that. It implied a detailed review, analysis and redesign of processes and now, with its implementation, we are equipped to work in a different way. But let me give you some context so as to understand better what we

are doing. Transformation didn’t appear from one day to the next. It is part of the continuous journey on which BHP Billiton embarked some years ago in a bid to achieve greater simplification. The Operational Model gave us stability, standardisation and effectiveness, all key factors for enhancing productivity. Then, the creation of South32 left the company with a much simpler portfolio of assets, further reducing its complexity. Our Assets and Functions had to follow this same road and Escondida 3.0, Top 3, ReCuvery and Transformation were designed to deliver continuous productivity gains without jeopardising the safety of people.

GC: In practice, how should the work of an employee in a functional area of Copper change? DM: As our CEO Andrew Mackenzie has said, simplification doesn’t

5

“We need teams of excellence anchored in trust and collaboration”

BHP Billiton Colaboration Efficiency Simplifaction

mean more work but rather working more intelligently, giving priority to those activities that add value. In addition, Functions - which had previously been geared mainly to governance - are now moving towards an execution role with direct responsibility for the business’s performance. This makes everyone’s work more relevant and motivating. Under the new model, there is a closer relationship between functional areas and operations and the aimof both is to create value.Trust and collaboration play a key role in this new model. That is why I hope each one of us commits to forming teams of excellence on the basis of these principles. The human factor will be decisive in what we are able to achieve because the model is based on relationships of collaboration, on supporting each other in achieving our goals.

GC: Why is simplification so important today?DM: The nature of our deposits, the increasing complexity of exploiting our reserves, the behaviour of markets and the changing context in which we operate make it ever more difficult to create value and maintain profit levels. And, moreover, in an industry that is capital-intensive. We, therefore, need simple processes and systems that enable us to respond agilely to the growing and changing challenges of our operations, the market and the social context.

GC: In what way will the structure’s simplification allow operations to reach their maximum potential? DM: The explanation is quite simple - an organisation with a simpler, flatter structure is more connected, integrated and efficient. Simplicity avoids duplication, provides

opportunities for standardisation where this makes sense and ensures that activities focus on where they can add value. In our case, it also provides functional areas with autonomy to work directly with operations. The idea is that Functions foster the sharing of best practices and strengthen the standardisation of processes throughout the business. I am sure that the greater simplicity of organisational design, processes and systems will enhance our productivity in a sustained and sustainable manner.

GC: What would you say will be the principal focus of Copper in 2016?DM: Our prime focus is and will always be to ensure that each of our employees at Copper goes home safe after work. It is on this that we must build all the rest. Otherwise, we will not achieve any success at all. We haven’t made

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“Under the new model, there is a closer relationship between functional areas and operations and the aim of both is to create value”

Copper Culture

Positive Disposition

much progress on certain safety indicators in some parts of the organisation and have even suffered high potential risk incidents.We must continue to deliver the volume and cost results established in our budgets, doing so in a disciplined and sustainable way.This year, we will give the new structure life and, for that, each one of us has to be involved and make things happen. Together we will gradually build the Copper culture, promoting excellence, operational discipline, collaborative work and relations of trust. We cannot wait for the culture to be handed down from above. It is people, not structures, who create a company’s work climates and culture. This positive disposition - something totally “soft” in our engineering world - is crucial for increasing productivity safely and sustainably. That is why the company is implementing several

initiatives along these lines like the Leading Step Up Programme.

GC: What would be your final message to each one of us, Daniel? DM: Independently of the external situation, which is certainly challenging, we have the privilege of extraordinary mineral wealth, our operations are very well capitalised, we have attractive opportunities to continue freeing up capacity through relatively small investments and, most importantly, we have high-potential teams that now have at their disposal appropriate processes and systems through which to develop their capabilities to the full. I truly believe that today we have an opportunity to differentiate ourselves from the rest of the mining industry and become the world’s best copper business. Making that happen is in the hands of each one of us.

7

Marcos Bastías, VP Projects

“In OGP1, we have a world-class concentrator”

Safety Risk School

Best Practice

Value Generation

The ramp up of OGP1 progresses ahead of plan and it is today the world’s largest single milling line copper concentrator plant. The project, which was enormous both in scale and the challenges it implied in terms of jobs, equipment, materials and logistics, represented an outlay of US$4,200 million, making it the largest productive investment of recent years in Chile. The construction period took over 60 million job hours and the workforce reached a peak of 9,200 people, with a permanent focus on safety as the priority. “The total and absolute commitment of all the group of people who participated in OGP1 was certainly the key factor in this great

achievement,” reports Marcos Bastías, Vice President Projects. A crucial role was also played by the Safety Risk School which helped to close gaps in the knowledge and experience of many workers as regards the health, safety and environmental risks of large-scale construction at altitude. This initiative was recognized in Chile and internationally as a best practice and incorporated as an industry standard.“Thanks to the great efforts of a tremendous group of people, we now have a world-class concentrator with the highest quality standards that is ready to generate value for the Company for many years; we should feel very proud of having completed this project successfully,” notes Marcos.

During high-yield tests at the new concentrator, copper recovery

reached over 80% and a maximum processing volume of 170,000 tpd was obtained, above the nominal capacity of 152,000 tpd for which it was designed.

The operation of OGP1, together with completion of the second desalination plant (EWS) and the potential extension of the life of the Los Colorados concentrator, will in the medium term put Escondida in a position to operate three concentrators, offsetting grade decline and contributing to a strong recovery in production. This will make a significant contribution to the sustainability of our Business.

8 Leadership

The Copper Executive Committee (Exco)is a forum to consider and debate high-level matters which cut across the whole of the Business.

Its purpose is to provide leadership to the Business, determine the Business’ priorities and the way it should operate, underpinned by the Operating Model. The Exco also provides governance and manages safe business performance aligned with Our Charter.In so doing, the Exco supports the Business President in setting and effectively implementing our strategy and sustainably growing the value of the Copper Business.

The Committee has 13 members, including the President by whom it is chaired. Independently of the vision of their own Asset or Function, its members seek to foster a broader perspective in line with the best interests of the business unit as a whole.

Getting to Know the Exco

Photo: Marcos Bastías, Jean des Rivières, Matt Currie, Alex Jaques, Kevin O´Kane, Santiago Montt, Hilmar Rode and Graham Tiver. Daniel Malchuk, Jacqui McGill, Vicky Binns, María Olivia Recart and Andrew Arthur.

Who are the members?

Copper President: Daniel MalchukPresident Minera Escondida: Hilmar RodePresident Pampa Norte: Kevin O´KanePresident Olympic Dam: Jacqui McGill, VP Finance: Graham Tiver (*)VP Health, Safety and Environment: Matt CurrieVP Human Resources: Alex JaquesVP Strategy and Development: Andrew ArthurVP Projects: Marcos BastíasVP Explorations: Jean des RivièresVP Corporate Affairs: María Olivia RecartVP Legal (i): Nicolas Lustig (**)VP Marketing: Vicky Binns

(*) On 1 March, Neil Beaumont will be assuming this position. Graham has been appointed as Head Group Reporting.(**) Nicolas replaced Santiago Montt, who has been appointed VP Legal Brazil.

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Celebrating the art and culture of Indigenous PeoplesdsMany of our operations around the world take place on land that has traditionally belonged to Indigenous Peoples and their descendants. Our approach over time has been to establish long-term, mutually beneficial relationships with our Indigenous stakeholders, based on respect and trust, which has helped us to understand and value their deep ties with nature and their heritage.

On this basis, we have sought through different initiatives to contribute to their economic, social and cultural empowerment. For over a decade now, we have been working to promote Indigenous art and culture as a way to contribute to the sustainability of Indigenous Peoples.The Tarnanthi Festival of Contemporary Aboriginal Art in South Australia, which attracted over 300 artists and was visited by more than 50,000 people, and our alliance with the Chilean Museum of Pre-Columbian Art, with its annual exhibitions, are just two examples of how the art and culture of Indigenous Peoples can serve to bring together different sectors, enriching the lives of present and future generations.

The director of the Art Gallery of South Australia, Nick Mitzevich, described the response of artists and the public to the Festival as impressive noting that “we have experienced a moment of true meeting of the different cultures that coexist in Australia.”The director of the Pre-Columbian Museum, Carlos Aldunate, explains that some people think Indigenous culture has disappeared in Chile or has very little influence “however, the truth is that it is still very present today; we can see it in our genes, our language, our customs and even our food”.

Respect Heritage Culture

Photo: Simon Corrigan, Head of Corporate Affairs OD; Emily Perry, Senior Manager Media Relations; Carla Young, Lead Communications OD; Jacqui McGill, Asset President OD; Sarah Knoll, Specialist Planning & Positioning OD; and Tony Cudmore, Chief Public Affairs Officer.

Results in second half 2015:

Copper production drops due to decline in grade

10 Operational Performance

BHP Billiton posts a quarterly Operational Review on its corporate website, reporting on the group’s performance and that of each business unit. In the case of Copper, the key points include:

• Total copper production for the half year ending in December 2015 was down by 6% to 762 kt. The strong operating performance we have maintained was, as anticipated, offset by a decline in grade at Escondida. Estimated copper production for FY16 remains unchanged at 1.5 Mt.

• Production at Escondida decreased by 18% to 452 kt. Thanks to improvements in truck availability and utilisation, record material was mined but this was more than offset by a 25% grade decline.

• Pampa Norte’s production was broadly unchanged at 126 kt. At Spence, ore milled reached a record level and, together with higher grade, this meant record production, compensating for lower recoveries at Cerro Colorado.

Collective bargaining agreements were satisfactorily concluded at Spence in December 2015 and at Cerro Colorado in January 2016.

• Copper production at Olympic Dam increased by 37% to a record 112 kt, reflecting record ore milled and improved smelter utilisation.

Dec2015Half

Dec2015Qtr

Dec H15vsDec H14

Dec Q15 vsDec Q14

Dec Q15vsSept Q15

Copper (kt) 762 385 (6%) (9%) (2%)

Uranium oxide concentrate (t)

2,547 1,386 31% 29% 19%

11Team Work

Opportunities Optimisation

Escondida Production Supervisor

Claudio Carrasco ”Trust and team work were key for improving truck utilisation”

Benchmarking our performance against other companies is crucial for detecting and harnessing opportunities for improvement. In FY14, for example, Escondida found that utilisation of its fleet of CAT 797 trucks fell well short of international standards.

“With utilisation of only 76%, we needed to improve our performance if we want to be the world’s best copper producer,” says production supervisor Claudio Carrasco, a member of the group that successfully increased it to an average of 83.5% in the first half of FY16.

“As a team, we began to look for opportunities for improvement that would allow us to optimise our change of shift, draw up a relief plan for meal breaks, reduce

fuel loading time and optimise the route taken by our shovel operators to and from canteens,” explains Claudio.

This significant productivity gain at the mine has boosted the professional development of the operators whose commitment and engagement have been fundamental.

Claudio worked specifically on implementation of the relief plan which has increased fleet utilisation during meal breaks from 28% to over 53%.

GC: What do you think is key to achieving good results? CC:The root of success is believing that things can be done differently as well as involving and encouraging all our operators in

the quest for solutions in order to work safely and productively. It was also important that our Superintendency trusted the group and that its message was always very clear. Essentially, the key to this project was trust and team work.

PROJECT TEAM Luis Cáceres, Manager Production MineHugo Reales, SI ProductionPatricio González, SI Production Carlos Llanos, SI Production ManagementMiguel Fernández, SI Pit Development Diego Castillo, SI Pit DevelopmentJuan Carlos Fuentealba, SI Drill&BlastLeonardo Torres, SI Production Norte Raúl Muñoz, Engineer A&IRodrigo Rojas, Transformation Lead

Get Connected #1Adelaide, AntofagastaCerro ColoradoEscondida, IquiqueLima, Olympic DamRoxby Downs, SantiagoSpence, Tucson