BHP Group Limited — AGM Information 2015

Oct 23, 2015

6-K 1 d26974d6k.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 22, 2015

BHP BILLITON LIMITED (ABN 49 004 028 077) (Exact name of Registrant as specified in its charter) VICTORIA, AUSTRALIA (Jurisdiction of incorporation or organisation) 171 COLLINS STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA (Address of principal executive offices) BHP BILLITON PLC (REG. NO. 3196209) (Exact name of Registrant as specified in its charter) ENGLAND AND WALES (Jurisdiction of incorporation or organisation) NEATHOUSE PLACE, LONDON, UNITED KINGDOM (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

bhpbilliton BHP Billiton Plc Annual General Meeting 2015

Disclaimer Forward-looking statements This presentation contains forward looking statements, including trends in commodity prices, strategies and objectives of management, future performance and future opportunities. 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. Except as required by applicable regulations or by law, BHP Billiton does not undertake any obligation to publicly update or review any forward-looking statements whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance. 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 and Net debt. 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. 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 in any jurisdiction, or be treated or relied upon as a recommendation or advice by BHP Billiton. 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 22 October 2015 2 bhpbilliton

bhpbilliton Jac Nasser Chairman

Changes to the Board Anita Frew Shriti Vadera Carlos Cordeiro BHP Billiton Plc Annual General Meeting 22 October 2015 4 bhpbilliton

Sir John Buchanan BHP Billiton Plc Annual General Meeting 22 October 2015 5 bhpbilliton

Forum on Corporate Responsibility Greg Bourne1 Australia Mick Dodson Australia Cristina Echavarria Colombia Tommy Garnett Sierra Leone Simon Longstaff Australia Yaa Ntiamoa-Baidu Ghana Ray Offenheiser USA Phil Vernon United Kingdom Changhua Wu China 1. Term concluded 30 June, 2015 BHP Billiton Plc Annual General Meeting 22 October 2015 6 bhpbilliton

Our Charter 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 Our Values Sustainability Putting health and safety first, being environmentally responsible and supporting our communities. Integrity Respect Performance Simplicity Accountability BHP Billiton Plc Annual General Meeting 22 October 2015 7 bhpbilliton

The global environment BHP Billiton Plc Annual General Meeting 22 October 2015 8 bhpbilliton

Commodity prices 2006 - 2015 Iron ore, Metallurgical coal, Energy coal, Crude oil (US$/unit) Copper, Gas (US$/unit) Iron ore Metallurgical coal Energy coal Crude oil Copper Gas 300 250 200 150 100 50 0 18 15 12 9 6 3 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 BHP Billiton Plc Annual General Meeting 22 October 2015 9 bhpbilliton

Our unique portfolio Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 10 bhpbilliton

Focused on the fundamentals Over the last 10 years, your company: Achieved cumulative growth in Total Shareholder Returns of about 115% in Sterling Generated operating cash flows of more than US$260 billion1 Sold US$8.5 billion of assets, as well as demerging South32 1. Based on total operations BHP Billiton Plc Annual General Meeting 22 October 2015 11 bhpbilliton

Global economies are going through a major transition BHP Billiton Plc Annual General Meeting 22 October 2015 12 bhpbilliton

Financial performance for FY2015 Delivered a solid set of operational results Maintained sector leading margins1 Generated US$6.3 billion of free cash flow2 Reduced net debt by 5 per cent to US$24.4 billion Invested in growth 1. Underlying EBITDA margins exclude exceptional items, third party trading and discontinued operations. Peer group comprises Rio Tinto, Anglo American and Vale. 2. Presented on a continuing operations basis to exclude the contribution from assets that were demerged with South32 BHP Billiton Plc Annual General Meeting 22 October 2015 13 bhpbilliton

Financial performance in FY2015 Long term credit rating Dividend per ordinary share Standard & Poor’s 2015 2014 2013 2012 2011 A+ A+ A+ A+ Moody’s 2015 2014 2013 2012 2011 A1 A1 A1 A1 A1 US cents 150 100 50 0 116 FY2013 121 FY2014 124 FY2015 BHP Billiton Plc Annual General Meeting 22 October 2015 14 bhpbilliton

Our economic contribution bhpbilliton Economic contribution and payments to governments Report 2015 BHP Billiton is committed to being a leader in further enhancing disclosure and transparency. BHP Billiton Plc Annual General Meeting 22 October 2015 15 bhpbilliton

Our broader contribution Suppliers Employees Shareholders and investors Government payments Community contribution US$16.1 billion US$4.9 billion US$7.2 billion1 US$7.3 billion US$225 million2 Total economic contribution US$35.7 billion3 Community 1. Shareholders and investors includes US$6.6 billion of dividends attributable to members of the BHP Billiton Group and US$0.6 billion of interest expense. 2. Community contribution includes cash, and in-kind support transferred directly to communities and administrative costs (US$142 million) and funds transferred to BHP Billiton Foundation for which communities are the future beneficiaries (US$83 million). Includes payments made by equity accounted investments and operations demerged to form South32. 3. The total economic contributions made during the financial year ended 30 June 2015 of US$35.7 billion is determined by combining total payments to governments of US$7.3 billion (determined on a cash paid basis), payments to suppliers of US$16.1 billion, employee expenses of US$4.9 billion, distributions to shareholders and investors of US$7.2 billion (determined on an accruals basis) and community contribution of US$225 million. BHP Billiton Plc Annual General Meeting 22 October 2015 16 bhpbilliton

Climate Change: Portfolio Analysis bhpbilliton Climate Change: Portfolio Analysis 1. Our perspective on climate change 2. Our action on climate change 3. Our approach to portfolio management 4. Portfolio impacts in a 2°C world BHP Billiton Plc Annual General Meeting 22 October 2015 17 bhpbilliton

Ongoing energy demand BHP Billiton Plc Annual General Meeting 22 October 2015 18 bhpbilliton

Role of our commodities BHP Billiton Plc Annual General Meeting 22 October 2015 19 bhpbilliton

The best long life assets in the best locations BHP Billiton Plc Annual General Meeting 22 October 2015 20 bhpbilliton

Our people BHP Billiton Plc Annual General Meeting 22 October 2015 21 bhpbilliton

bhpbilliton Andrew Mackenzie Chief Executive Officer

Health and safet y are paramount Total Recordable Injury Frequency (TRIF)1

6

4

2

0 FY2011 FY2012 FY2013 FY2014 FY2015 Our overriding commitment is to ensuring the safety of our people, and respecting our environment and the communities in which we work. 1. Number of recordable injuries per million hours worked, presented on a total operations basis BHP Billiton Plc Annual General Meeting 22 October 2015 23 bhpbilliton

Health and safety are paramount BHP Billiton Plc Annual General Meeting 22 October 2015 24 bhpbilliton

Operational review Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 25 bhpbilliton

Operational review Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 26 bhpbilliton

Operational review Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 27 bhpbilliton

Operational review Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 28 bhpbilliton

Operational review Iron Ore Coal Petroleum Copper BHP Billiton Plc Annual General Meeting 22 October 2015 29 bhpbilliton

Financial performance US$4.1 billion sustainable productivity gains in FY20151 34 per cent increased production since FY20123 US$11 billion FY2015 annual capital & exploration5 US$10 billion annualised productivity gains since FY20121 2 30 per cent reduction in average unit costs from their peak in 20114 US$8.5 billion FY2016(e) annual capital & exploration5 1. Continuing operations 2. Represents annualised volume and cost productivity gains relative to FY2012 3. Using group copper equivalent units on continuing operations 4. Presented on a total operations basis. Unit costs are calculated using Group copper equivalent production based on FY13 average realised prices 5. BHP Billiton share (continuing operations), excludes capitalised deferred stripping and non-controlling interests; includes BHP Billiton proportionate share of equity accounted investments BHP Billiton Plc Annual General Meeting 22 October 2015 30 bhpbilliton

Over the past decade we have Generated more than US$260 billion1 of operating cash flows Created US$100 billion of value Increased underlying EBITDA margin to 50 per cent2 Delivered 6.5 per cent annual volume growth3 1. Based on total operations 2. Continuing operations 3. Using group copper equivalent units on continuing operations BHP Billiton Plc Annual General Meeting 22 October 2015 31 bhpbilliton

BHP Billiton core portfolio* WA Iron Ore Australia Samarco Brazil Queensland Coal Australia NSW Energy Coal Australia Cerrejón Colombia Olympic Dam Australia Escondida Chile Pampa Norte Chile Antamina Peru Onshore US United States Shenzi United States Angostura Trinidad & Tobago Pyrenees Australia Macedon Australia Atlantis United States Mad Dog United States Bass Strait Australia North West Shelf Australia Jansen project Canada * Note: Excludes Nickel West which remains with the portfolio as non core, and New Mexico Coal and several smaller petroleum assets which are under review. BHP Billiton Plc Annual General Meeting 22 October 2015 32 bhpbilliton

Ongoing productivity focus Iron Ore Reduce costs to US$15 per tonne Increase volumes by 7 per cent Coal Reduce costs to US$61 per tonne Petroleum Improve recoveries Lower drilling costs Copper Reduce costs by 15 per cent BHP Billiton Plc Annual General Meeting 22 October 2015 33 bhpbilliton

Disciplined capital management Capital and exploration expenditure (US$ billion)1 25 20 15 10 5 0 FY2013 FY2014 FY2015 FY2016e FY2017e 1. BHP Billiton share, continuing operations BHP Billiton Plc Annual General Meeting 22 October 2015 34 bhpbilliton

Unlocking additional production Permian - Petroleum Ongoing resource development Escondida - Copper Los Colorados extension Iron Ore Productivity improvements Olympic Dam - Copper Higher grade output Caval Ridge - Coal Expand production BHP Billiton Plc Annual General Meeting 22 October 2015 35 bhpbilliton

High value growth options Mad Dog - Petroleum Phase 2 expansion Spence - Copper Addition of concentrator for processing Olympic Dam - Copper Underground expansion BHP Billiton Plc Annual General Meeting 22 October 2015 36 bhpbilliton

Longer term opportunities BHP Billiton Plc Annual General Meeting 22 October 2015 37 bhpbilliton

Effective response to climate change BHP Billiton Plc Annual General Meeting 22 October 2015 38 bhpbilliton

Greenhouse gas reduction Greenhouse gas emissions (MtCO2-e) 60 40 20 0 FY2006 emissions baseline FY2011 FY2012 FY2013 FY2014 FY2015 South32 adjustment Scope 2 Scope 1 Note: In order to provide year-on-year comparison, we have shown outcomes with South32 assets included for the full FY2015. BHP Billiton Plc Annual General Meeting 22 October 2015 39 bhpbilliton

Collaborating to achieve global reductions SaskPower Carbon Capture Test Facility, Canada Image supplied by SaskPower BHP Billiton Plc Annual General Meeting 22 October 2015 40 bhpbilliton

Commitment to biodiversity and conservation Five Rivers, Tasmania Valdivia, Chile BHP Billiton Plc Annual General Meeting 22 October 2015 41 bhpbilliton

Our broader contribution Liang Karo, Kalimantan, Indonesia BHP Billiton Plc Annual General Meeting 22 October 2015 42 bhpbilliton

Delivering sector leading productivity BHP Billiton Plc Annual General Meeting 22 October 2015 43 bhpbilliton

Our people are our greatest resource BHP Billiton Plc Annual General Meeting 22 October 2015 44 bhpbilliton

bhpbilliton BHP Billiton Plc Annual General Meeting 2015

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/ Rachel Agnew
Name:	Rachel Agnew
Title:	Company Secretary