Bhp Group Ltd · ASX:BHP
Bhp — Bank of America Global Metals, Mining & Steel Conference 2026
17 slides from Bhp's conference presentation, May 12, 2026
Slide 1: Bank of America Global Metals, Mining & Steel Conference 2026
Bank of America Global Metals, Mining & Steel Conference 2026 Brandon Craig President Americas and Chief Executive Officer (from 1 July 2026) Escondida
Slide 2: Disclaimer
Disclaimer The information in this presentation is current as at 12 May 2026. It is in summary form and is not necessarily complete. It should be read together with the BHP Results for the half year ended 31 December 2025. Forward-looking statements This presentation contains forward-looking stateme
Slide 3: BHP's success has been built on a winning strategy
BHP’s success has been built on a winning strategy BHP’s focus on the right commodities and high-quality assets operated exceptionally well2 has driven superior returns BHP has delivered ~25ppts. greater TSR1 than a basket of peers since 2020 The right commodities Total shareholder returns (TSR)1 (%
Slide 4: BHP is in great shape today
BHP is in great shape today An industry leading investment case Best in class track record in meeting guidance1 >50% Operational excellence Average EBITDA Copper EBITDA contribution more than doubled since FY23 to 51% margins past 25 years2 Unlocking Disciplined capital Strong balance sheet adds res
Slide 5: The value of well operated tier 1 assets
The value of well operated tier 1 assets Best in class operatorship of tier 1 assets drives increasing cash margins through the cycle Copper price and AISC (Escondida vs marginal producer) Iron ore price and AISC (WAIO vs marginal producer) (US$/lb, real 2026) (US$/dmt, real 2026) 6.00 240 Exclusive
Slide 6: Safety remains a non-negotiable and my first priority
Safety remains a non-negotiable and my first priority Commitment to zero fatalities and reducing High Potential Injuries (HPIs)1 BHP fatalities2 and HPIs1 FY2009-26 (Fatalities, #) (HPIs, #) 10 Fatalities HPIs 100 8 80 7 6 60 5 5 4 40 3 3 2 2 2 2 20 1 1 1 0 0 2009 2010 2011 2012 2013 2014 2015 2016
Slide 7: The next phase: more velocity, more ambition, same discipline
The next phase: more velocity, more ambition, same discipline We will leverage BOS, technology and partnerships to drive productivity and disciplined and consistent growth Further embedding BHP Operating System (BOS) Accelerating performance Leveraging technology to create sustained competitive adva
Slide 8: Leveraging BOS and technology to drive productivity
Leveraging BOS and technology to drive productivity Escondida has shown that successfully integrated, BOS and technology can accelerate operational improvement Escondida Operational Excellence Index (OEI)3 and Escondida’s recent performance McKinsey benchmarking4 79 Highest in McKinsey 13% 550 k
Slide 9: Consistent and disciplined growth …
Consistent and disciplined growth … Consistent growth driven by our portfolio of projects and a more programmatic approach to building optionality 2035 and beyond Existing growth projects Production target 220 – 260 ktpa Cu Escondida New Concentrator 235 – 280 CuEq By 2035 Bolt-on acquisitions Vicuñ
Slide 10: … which is more reliable than our peers'
… which is more reliable than our peers’ Delivering increased and more reliable copper production guidance while our peers are cutting theirs Increasing copper production guidance … … which investors can bank on (Mt, change in copper production guidance over last 16 months1) Cumulative BHP (average
Slide 11: Delivering today and into the next decade
Delivering today and into the next decade BHP is in great shape today, with a strategy in place to win in the next decade Stronger foundation and Tier 1 assets resilience Consistent and disciplined Accelerating performance growth Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2
Slide 12: Slide 12
Slide 13: Footnotes
Footnotes Slide 3 – BHP’s success has been built on a winning strategy Slide 6 – Safety remains a non-negotiable and my first priority (1) TSR performance sourced from Bloomberg, presented on a cumulative basis in USD March 2020 to February 2026. BHP’s TSR (1) High-potential injuries (HPI’s) are rec
Slide 14: Supplementary material
Supplementary material BHP
Slide 15: Diversification delivers growth and resilient cash flow
Diversification delivers growth and resilient cash flow BHP’s diversification generates positive free cash flow through the cycle, advancing growth while delivering shareholder returns Five-year cumulative free cash flow1,2 (US$ bn, attributable basis, FY26-30 inclusive) 120 ~$60 bn ~$40 bn 90 ~$10
Slide 16: A disciplined and targeted approach to capital allocation
A disciplined and targeted approach to capital allocation Maximising value through our well-established framework, delivering strong shareholder returns and growth A stronger and more resilient business enables investment and returns through the cycle Portfolio Sector Average EBITDA margin >50% the
Slide 17: Best suite of organic copper projects
Best suite of organic copper projects A portfolio of low capital intensity, high returning organic copper growth projects which can be sequenced and optimised Estimated capital Estimated capital Potential FID Potential first Potential expenditure intensity (Final Investment production production pro
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