Further to the most recent update on 29 April 2024, BHP Billiton Brasil Ltda (BHP Brasil), alongside Samarco Mineração S.A. (Samarco) and Vale S.A. (Vale) (the companies), has presented a revised non-binding, indicative settlement proposal to the Brazilian Federal and State Government and other public entities (Public Authorities) to seek a settlement of obligations under the Framework Agreement, the Federal Public Prosecution Office Claim, and other claims by government entities relating to the Samarco dam failure. The revised non-binding, indicative settlement proposal is within BHP Brasil’s 31 December 2023 provision.

The settlement aims to provide full and fair compensation to those people and regions affected by Samarco’s Fundão dam failure in 2015. BHP Brasil remains fully committed to supporting the extensive ongoing remediation and compensation efforts in Brazil. The companies acknowledge the significant progress made and alignment achieved as part of negotiations in the past year and we are optimistic resolutions in all remaining areas can be promptly resolved. The negotiations between the parties are ongoing and no final agreement has been reached.