BHP Group Limited — AGM Information 2014

Oct 24, 2014

6-K 1 d808692d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

October 24, 2014

BHP BILLITON LIMITED (ABN 49 004 028 077)	BHP BILLITON PLC (REG. NO. 3196209)
(Exact name of Registrant as specified in its charter)	(Exact name of Registrant as specified in its charter)

VICTORIA, AUSTRALIA	ENGLAND AND WALES
(Jurisdiction of incorporation or organisation)	(Jurisdiction of incorporation or organisation)
171 COLLINS STREET, MELBOURNE, VICTORIA 3000
AUSTRALIA	NEATHOUSE PLACE, VICTORIA, LONDON, UNITED KINGDOM
(Address of principal executive offices)	(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: x Form 20-F ¨ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ¨ Yes x No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a

Newman Australia Annual General Meeting 2014 BHP Billiton Plc 23 October 2014 bhpbilliton resourcing the future

Disclaimer Forward-looking statements This presentation contains forward-looking statements, which may include statements regarding: trends in commodity prices and currency exchange rates; demand for commodities; plans, strategies and objectives of management; closure or divestment of certain operations or facilities (including associated costs); anticipated production or construction commencement dates; capital costs and scheduling; operating costs and shortages of materials and skilled employees; anticipated productive lives of projects, mines and facilities; provisions and contingent liabilities; tax and regulatory developments. Forward-looking statements can be identified by the use of terminology such as ‘intend’, ‘aim’, ‘project’, ‘anticipate’, ‘estimate’, ‘plan’, ‘believe’, ‘expect’, ‘may’, ‘should’, ‘will’, ‘continue’, ‘annualised’ or similar words. These statements discuss future expectations concerning the results of operations or financial condition, or provide other forward-looking statements. These forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. For example, our future revenues from our operations, projects or mines described in this presentation will be based, in part, upon the market price of the minerals, metals or petroleum produced, which may vary significantly from current levels. These variations, if materially adverse, may affect the timing or the feasibility of the development of a particular project, the expansion of certain facilities or mines, or the continuation of existing operations. Other factors that may affect the actual construction or production commencement dates, costs or production output and anticipated lives of operations, mines or facilities include our ability to profitably produce and transport the minerals, petroleum and/or metals extracted to applicable markets; the impact of foreign currency exchange rates on the market prices of the minerals, petroleum or metals we produce; activities of government authorities in some of the countries where we are exploring or developing these projects, facilities or mines, including increases in taxes, changes in environmental and other regulations and political uncertainty; labour unrest; and other factors identified in the risk factors discussed in BHP Billiton’s filings with the US Securities and Exchange Commission (the ‘SEC’) (including in Annual Reports on Form 20-F) which are available on the SEC’s website at www.sec.gov. Except as required by applicable regulations or by law, the Group does not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information or future events. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 2 bhpbilliton resourcing the future

Disclaimer (continued) Non-IFRS financial information BHP Billiton results are reported under International Financial Reporting Standards (IFRS) including Underlying EBIT and Underlying EBITDA which are used to measure segment performance. This presentation may also include certain non-IFRS measures including Underlying EBIT margin, Underlying EBITDA margin, Free cash flow, Net debt and Net operating assets. These measures are used internally by management to assess the performance of our business, make decisions on the allocation of our resources and assess operational management. Non-IFRS measures have not been subject to audit or review and should not be considered as an indication of or alternative to an IFRS measure of profitability, financial performance or liquidity. UK GAAP financial information Certain historical financial information for periods prior to FY2005 has been presented on the basis of UK GAAP, which is not comparable to IFRS or US GAAP. Readers are cautioned not to place undue reliance on UK GAAP information. Basis of preparation Unless specified otherwise, production volumes, sales volumes and capital and exploration expenditure from subsidiaries (which include Escondida, Jimblebar, BHP Billiton Mitsui Coal and our manganese operations) are reported on a 100 per cent basis; production volumes, sales volumes and capital and exploration expenditure from equity accounted investments (which include Antamina, Samarco and Cerrejón) and other operations are reported on a proportionate consolidation basis. No offer of securities Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell BHP Billiton securities or securities in the new company to be created by the proposed demerger in any jurisdiction. Reliance on third-party information The views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by BHP Billiton. No financial or investment advice – South Africa BHP Billiton does not provide any financial or investment ‘advice’, as that term is defined in the South African Financial Advisory and Intermediary Services Act 37 of 2002, and we strongly recommend that you seek professional advice. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 3 bhpbilliton resourcing the future

Escondida Chile Jac Nasser Chairman Annual General Meeting 23 October 2014 bhpbilliton resourcing the future

Directors Jac Nasser Andrew Mackenzie Malcolm Brinded Malcolm Broomhead Sir John Buchanan Carlos Cordeiro David Crawford Pat Davies Carolyn Hewson Lindsay Maxsted Wayne Murdy Keith Rumble John Schubert Baroness Shriti Vadera BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 5 bhpbilliton resourcing the future

Malcolm Brinded Director of BHP Billiton Member of the Sustainability Committee Director Royal Dutch Shell plc from 2002 to 2012 Director of CH2M Hill Companies Limited since July 2012 Director of Network Rail Infrastructure Limited since October 2010 Vice President of The Energy Institute, UK since October 2013 BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 6 bhpbilliton resourcing the future

David Crawford Director of BHP Billiton Chairman of the Finance Committee Chairman of Australia Pacific Airports Corporation Limited since May 2012 Chairman of Lend Lease Corporation Limited since May 2003 Former Chairman and former Director of Foster’s Group Limited Former Director of Westpac Banking Corporation BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 7 bhpbilliton resourcing the future

Keith Rumble Director of BHP Billiton Member of the Sustainability Committee Previously Chief Executive Officer of SUN Mining Former Chief Executive Officer of Impala Platinum (Pty) Limited Former Chief Executive Officer of Rio Tinto Iron and Titanium Inc in Canada Board of Governors of Rhodes University, South Africa since April 2005 BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 8 bhpbilliton resourcing the future

Directors Jac Nasser Andrew Mackenzie Malcolm Brinded Malcolm Broomhead Sir John Buchanan Carlos Cordeiro David Crawford Pat Davies Carolyn Hewson Lindsay Maxsted Wayne Murdy Keith Rumble John Schubert Baroness Shriti Vadera BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 9 bhpbilliton resourcing the future

Group Management Committee Andrew Mackenzie Peter Beaven Tim Cutt Tony Cudmore Dean Dalla Valle Mike Fraser Geoff Healy Mike Henry Jane McAloon Daniel Malchuk Jimmy Wilson BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 10 bhpbilliton resourcing the future

Graham Kerr Chief Executive Officer designate of the new company Former Chief Financial Officer of BHP Billiton from November 2011 to October 2014 Former President of Diamonds and Specialty Products, BHP Billiton Former Chief Financial Officer of Stainless Steel Materials, BHP Billiton Former Vice President, Finance, BHP Billiton Diamonds Former General Manager Commercial for Iluka Resources Limited BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 11 bhpbilliton resourcing the future

Forum on Corporate Responsibility Greg Bourne Australia Mick Dodson Australia Cristina Echavarria Colombia Tommy Garnett Sierra Leone Simon Longstaff Australia Yaa Ntiamoa-Baidu Ghana Ray Offenheiser United States Phil Vernon United Kingdom Changhua Wu China BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 12 bhpbilliton resourcing the future

Our Charter bhpbilliton resourcing the future Our Charter We are BHP Billiton, a leading global resources company. Our purpose is to create long-term shareholder value through the discovery, acquisition, development and marketing of natural resources. Our strategy is to own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market. Our value Sustainability Putting health and safety first, being environmentally responsible and supporting our communities. Integrity Doing what is right and doing what we say we will do. Respect Embracing openness, trust, teamwork, diversity and relationships that are mutually beneficial. Performance Achieving superior business results by stretching our capabilities. Simplicity Focusing our efforts on the things that matter most. Accountability Defining and accepting responsibility and delivering on our commitments. We are successful when: Our people start each day with a sense of purpose and end the day with a sense of accomplishment. Our communities, customers and suppliers value their relationships with us. Our asset portfolio is world-class and sustainably developed. Our operational discipline and financial strength enables our future growth. Our shareholders receive a superior return on their investment. Andrew Mackenzie Chief Executive Officer May 2013 Sustainability Integrity Respect Performance Simplicity Accountability BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 13 bhpbilliton resourcing the future

Safety Total Recordable Injury Frequency (TRIF) (number of recordable injuries per million hours worked) 10 8 6 4 2 0 down 51% FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 14 bhpbilliton resourcing the future

Our results at a glance Attributable profit – excluding exceptional items (US$ billion) 25 20 15 10 5 0 US$13.4 billion FY10 FY11 FY12 FY13 FY14 Note: Calculated on the basis of IFRS 10, IFRS 11 and IFRIC 20 for periods FY12 onwards. Taxes and royalties paid1 (US$ billion)2 US$9.9 billion 14 12 10 8 6 4 2 0 FY10 FY11 FY12 FY13 FY14 1. Taxes borne primarily comprises income tax and royalty-related taxes paid, production-based royalties accrued which approximate cash payments, royalties paid in-kind and certain other indirect taxes including customs and excise payments, payroll taxes paid and payments of Fringe Benefits Tax. 2. These numbers are as per those reported in the BHP Billiton Sustainability Reports (Taxes and royalty payments on a country- by-country basis table) under the EITI framework in the respective periods. The numbers have been reported in accordance with the applicable IFRS requirements at the time of publishing and as such may not be directly comparable year on year. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 15 bhpbilliton resourcing the future

Full year dividends Dividends1 (US cents per share (cps)) FY04 – FY14 CAGR USD: 17% CAGR GBP: 18% USD: 121 cps GBP: 73 pps 125 USD: 4% GBP: (3%) 100 75 50 USD: 26 cps GBP: 15 pps 25 0 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 1. Dividends declared in respect of the period. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 16 bhpbilliton resourcing the future

Existing BHP Billiton portfolio Western Australia Iron Ore Samarco Queensland Coal NSW Energy Coal Cerrejón Nickel West Worsley Alumar Aluminium South Africa Olympic Dam Escondida Pampa Norte Antamina Onshore US New Mexico Coal Mozal GEMCO Hotazel Shenzi Angostura Pyrenees Macedon Atlantis Smaller petroleum assets TEMCO Metalloys Cerro Matoso Mad Dog Bass Strait North West Shelf Jansen project Illawarra Coal Energy Coal South Africa Cannington BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 17 bhpbilliton resourcing the future

Total shareholder return Total Shareholder Return (TSR)1 (%) BHP Billiton TSR 424% 450 BHP Billiton Plc dividends BHP Billiton Plc price FTSE100 dividends FTSE100 price 300 FTSE100 150 TSR 117% 0 FY05 – FY14 Source: Datastream. 1. TSR calculated in pence from 30 June 2004 to 30 June 2014. Share price reflects adjustments for rights issues and bonus shares and dividends assume reinvestment on the ex-dividend date. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 18 bhpbilliton resourcing the future

Evolution of our portfolio BHP Billiton core portfolio Proposed new company Western Australia Iron Ore Samarco Queensland Coal NSW Energy Coal Cerrejón Olympic Dam Escondida Pampa Norte Antamina Onshore US Shenzi Angostura Pyrenees Macedon Atlantis Mad Dog Bass Strait North West Shelf Jansen project Worsley Alumar Aluminium South Africa Mozal GEMCO Hotazel TEMCO Metalloys Cerro Matoso Illawarra Coal Energy Coal South Africa Cannington Note: Excludes Nickel West, New Mexico Coal and several smaller petroleum assets which are under review. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 19 bhpbilliton resourcing the future

Proposed new company Keep your BHP Billiton shares Continue to receive dividends in line with our policy without any reset Entitlement to shares in the new company in equal proportion to your BHP Billiton shareholding Primary listing on the Australian Securities Exchange Secondary listing on the Johannesburg Stock Exchange Standard listing on the UK Authority’s Official List and admission to trading on the London Stock Exchange BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 20 bhpbilliton resourcing the future

Our strategy Newman Australia BMA Australia Escondida Chile Shenzi United States Jansen Canada BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 21 bhpbilliton resourcing the future

Role of our commodities BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 22 bhpbilliton resourcing the future

Our diversity is our strength Newman Australia BMA Australia Escondida Chile Shenzi United States Jansen Canada BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 23 bhpbilliton resourcing the future

Our action on climate change Produced public environment report detailing GHG emissions and management strategies Introduced independent assessment of environmental data in Environmental Report. Set public target to reduce GHG intensity by 10% by 2000 – achieved 12% Established Carbon Pricing Protocol Implemented energy conservation plans at all sites with high energy consumption Committed US$300 million to GHG reduction and energy efficiency projects by 2012 – invested US$430 million. Set target to reduce GHG intensity by 6% by 2012 – achieved 16% Set target to maintain total GHG emissions below our 2006 baseline 1997 1998 2004 2005 2007 2012 1996 2002 2003 2006 2010 2014 Acknowledged scientific consensus on climate change. Announced US$1 billion in projects to address GHG emissions and improve energy efficiency – achieved 6 million tonnes of reductions by 2000 Set public target to reduce GHG intensity by 5% by 2007 – achieved 6% Participated in the first Carbon Disclosure Project Set target to reduce energy intensity by 13% by 2012 – achieved 15% Advocated six principles for effective emissions reduction policies, including a price on carbon. Required all high emitting businesses to develop GHG abatement cost curve Abated 807,000 tonnes of CO2-e through Business greenhouse gas reduction projects BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 24 bhpbilliton resourcing the future

Global growth by region GDP growth rate (% per annum) 10.0 Forecast 8.0 6.0 4.0 2.0 0.0 (2.0) CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 United States European Union Japan China Source: IMF World Economic Outlook Database (October 2014). BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 25 bhpbilliton resourcing the future

Global growth by region – United States GDP growth rate (% per annum) 10.0 Forecast 8.0 6.0 4.0 2.0 0.0 (2.0) CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 United States European Union Japan China Source: IMF World Economic Outlook Database (October 2014). BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 26 bhpbilliton resourcing the future

Global growth by region – European Union GDP growth rate (% per annum) 10.0 Forecast 8.0 6.0 4.0 2.0 0.0 (2.0) CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 United States European Union Japan China Source: IMF World Economic Outlook Database (October 2014). BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 27 bhpbilliton resourcing the future

Global growth by region – Japan GDP growth rate (% per annum) 10.0 Forecast 8.0 6.0 4.0 2.0 0.0 (2.0) CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 United States European Union Japan China Source: IMF World Economic Outlook Database (October 2014). BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 28 bhpbilliton resourcing the future

Global growth by region – China GDP growth rate (% per annum) 10.0 Forecast 8.0 6.0 4.0 2.0 0.0 (2.0) CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 United States European Union Japan China Source: IMF World Economic Outlook Database (October 2014). BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 29 bhpbilliton resourcing the future

Supporting economic growth Shanghai China BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 30 bhpbilliton resourcing the future

Delivering long-term sustainable value Sustainability Integrity Respect Performance Simplicity Accountability BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 31 bhpbilliton resourcing the future

Newman Australia Andrew Mackenzie Chief Executive Officer bhpbilliton resourcing the future Annual General Meeting 23 October 2014

Our commitment to sustainability bhpbilliton resourcing the future Our Charter We are BHP Billiton, a leading global resources company. Our purpose is to create long-term shareholder value through the discovery, acquisition, development and marketing of natural resources. Our strategy is to own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market. Our Values Sustainability Putting health and safety first, being environmentally responsible and supporting our communities. Integrity Doing what is right and doing what we say we will do. Respect Embracing openness, trust, teamwork, diversity and relationships that are mutually beneficial. Performance Achieving superior business results by stretching our capabilities. Simplicity Focusing our efforts on the things that matter most. Accountability Defining and accepting responsibility and delivering on our commitments. We are successful when: Our people start each day with a sense of purpose and end the day with a sense of accomplishment. Our communities, customers and suppliers value their relationships with us. Our asset portfolio is world-class and sustainably developed. Our operational discipline and financial strength enables our future growth. Our shareholders receive a superior return on their investment. Andrew Mackenzie Chief Executive Officer May 2013 BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 33 bhpbilliton resourcing the future Sustainability Putting health and safety first, being environmentally responsible and supporting our communities.

Sustainability BMA Australia Bullsbrook Volunteer Fire Service Australia Five Rivers Conservation Project Australia PATH Project Mozambique BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 34 bhpbilliton resourcing the future

Delivering strong financial results Increased Group production1 by 9% Productivity gains of US$2.9 billion US$6.6 billion of sustainable productivity gains over the past two years Capital and exploration expenditure2 of US$15.2 billion, down 32% Free cash flow increased by US$8.1 billion Underlying attributable profit of US$13.4 billion, up 10% Total taxes and royalties paid $9.9 billion3 Underlying EBITDA of US$32.4 billion, up 7% Net operating cash flow of US$25.4 billion, up 26% Underlying return on capital of 15% Full-year dividend up 4% to 121 US cents per share Net debt down to US$25.8 billion Attributable profit – excluding exceptional items (US$ billion) 25 20 15 10 5 0 FY10 FY11 FY12 FY13 FY14 Note: Variance relates to the relative performance of BHP Billiton during FY14 compared with FY13. 1. Refers to copper equivalent production based on average realised prices for FY13. 2. BHP Billiton share; excludes capitalised deferred stripping and non-controlling interests; includes BHP Billiton proportionate share of equity accounted investments. 3. Taxes borne primarily comprises income tax and royalty-related taxes paid, production-based royalties accrued which approximate cash payments, royalties paid in-kind and certain other indirect taxes including customs and excise payments, payroll taxes paid and payments of Fringe Benefits Tax. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 35 bhpbilliton resourcing the future

Record production Newman BMA Escondida Eagle Ford Australia Australia Chile United States BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 36 bhpbilliton resourcing the future

A disciplined systematic approach Spence Chile BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 37 bhpbilliton resourcing the future

Sustainable productivity Eagle Ford United States BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 38 bhpbilliton resourcing the future

Driving productivity in our shale assets Drilling costs Drilling time Moving time Productivity Well cost 16% 18% 11% 28% 8% BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 39 bhpbilliton resourcing the future

Continuous improvement Eagle Ford United States BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 40 bhpbilliton resourcing the future

Building a step-up culture BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 41 bhpbilliton resourcing the future

Our strategy Newman BMA Escondida Shenzi Jansen Australia Australia Australia United States Canada BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 42 bhpbilliton resourcing the future

Portfolio simplification Petroleum and Potash Copper Iron Ore Coal Aluminium, Manganese and Nickel Note: Several assets can be represented by one marker. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 43 bhpbilliton resourcing the future

A simplified portfolio BHP Billiton core portfolio Proposed new company Western Australia Samarco Queensland Coal NSW Energy Coal Cerrejón Worsley Alumar Aluminium Mozal Iron Ore South Africa Olympic Dam Escondida Pampa Norte Antamina Onshore US GEMCO Hotazel TEMCO Metalloys Shenzi Angostura Pyrenees Macedon Atlantis Cerro Matoso Illawarra Coal Energy Coal Cannington South Africa Mad Dog Bass Strait North West Shelf Jansen project Note: Excludes Nickel West, New Mexico Coal and several smaller petroleum assets which are under review. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 44 bhpbilliton resourcing the future

Delivering sustainable value Five Rivers Conservation Project Australia BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 45 bhpbilliton resourcing the future

Supporting conservation Valdivian Coast Five Rivers Conservation Project Chile Australia BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 46 bhpbilliton resourcing the future

Broader economic contribution 55% of spend with local businesses US$9.9 billion1 paid in royalties and taxes 1% pre-tax profit committed to community – US$242 million in FY14 1. Taxes borne primarily comprises income tax and royalty-related taxes paid, production-based royalties accrued which approximate cash payments, royalties paid in-kind and certain other indirect taxes including customs and excise payments, payroll taxes paid and payments of Fringe Benefits Tax. BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 47 bhpbilliton resourcing the future

Supporting our communities BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 48 bhpbilliton resourcing the future

Driving performance Jimblebar Australia BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 49 bhpbilliton resourcing the future

Our productivity journey Delivering a 16% increase in production over two years to the end of FY15 Targeting another $3.5 billion in annualised productivity gains by the end of FY17 Reducing our capital expenditure by a third to $15.2 billion in FY14 Over the past decade returned $64 billion to shareholders BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 50 bhpbilliton resourcing the future

Our commitment To maintain a strong balance sheet and solid A credit rating To continue to selectively invest in high return diversified investment opportunities through the cycle To extend our progressive base dividend policy To return excess capital to shareholders consistently, predictably, and in the most efficient way BHP Billiton Plc Annual General Meeting, 23 October 2014 Slide 51 bhpbilliton resourcing the future

bhpbilliton resourcing the future

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

By:	BHP Billiton Limited and BHP Billiton Plc — /s/ Nicole Duncan
Name:	Nicole Duncan
Title:	Company Secretary