South32 Ltd.ASX: S32

Notification of cessation of securities

· Issued by South32 Ltd.

Announcement Summary

Entity name SOUTH32 LIMITED

Announcement Type New announcement

Date of this announcement

Tuesday October 07, 2025

ASX +security code

Security description

Number of

+securities that The +securities have

have ceased ceased due to

Date of cessation

S32AA

RIGHTS

4,395,941 Lapse of conditional right to 30/09/2025 securities because the

conditions have not been, or have become incapable of being, satisfied

Details of +securities that have ceased

Refer to next page for full details of the announcement

Part 1 - Announcement Details

  1. Name of +Entity SOUTH32 LIMITED

    We (the entity named above) provide the following information about our issued capital.

  2. Registered Number Type Registration Number

    ABN 84093732597

  3. ASX issuer code S32

  4. The announcement is New announcement

  5. Date of this announcement 7/10/2025

Part 2 - Details of +equity securities or +debt securities that have ceased

ASX +Security Code and Description S32AA : RIGHTS

Unquoted +equity securities that have ceased Number of securities that have ceased 4,395,941

Reason for cessation

Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied

Date of cessation 30/9/2025

Is the entity paying any consideration for the cessation† No

Any other information the entity wishes to notify to ASX about the cessation?

Rights lapsed due to performance conditions not being met and/or cessation of employment.

Part 3 - Issued capital following changes

Following the cessation of the +securities the subject of this notification, the issued capital of the entity will comprise:

The figures in parts 3.1 and 3.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

  1. Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)

    Total number of

    ASX +security code and description

    S32 : ORDINARY FULLY PAID

    +securities on issue

    4,499,544,842

  2. Unquoted +equity securities (total number of each +cIass of +equity securities issued but not quoted on ASX)

Total number of

ASX +security code and description

S32AA : RIGHTS

+securities on issue

33,371,606

Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by ASX from time to time. The table will not include those classes of +securities that have ceased or lapsed in their entirety in ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class of +security in Part 2 of this form.