BHP Group Limited — Capital/Financing Update 2008

Sep 17, 2008

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ASX Release

Release Time: IMMEDIATE Date: 18 September 2008

BlueScope Steel Limited ABN 16 000 011 058 Level 11, 120 Collins St Melbourne VIC 3000 AUSTRALIA Telephone[+61 3 9666 4000] Facsimile[+61 3 9666 4111] www.bluescopesteel.com

BLUESCOPE STEEL CONCLUDES MAJOR IRON ORE CONTRACT

BlueScope Steel today announced that it has entered into a new long-term contract with BHP Billiton and its joint venture partners for the purchase of iron ore.

Under the contract BlueScope Steel has renewed its existing annual commitment for 4.3 million tonnes per annum of lump and fines and has secured an additional 730,000 tonnes per annum of fine iron ore to support a change in ore mix once the Sinter Plant upgrade is completed in 2009.

The new contract commences in July 2009 and runs to June 2019. It secures long term supply of a key raw material. Associated freight arrangements, that are mutually beneficial to BlueScope Steel and BHP Billiton, have also been renewed.

Pricing in the new agreement for the existing tonnes is reviewed quarterly and is tied to movements in iron ore prices paid by customers of BHP Billiton in Asia. The additional tonnes are priced on an index basis. The basis of pricing under the new contract is expected to maintain BlueScope Steel’s competitive position in the industry.

Arrangements with other suppliers for the remainder of the Company’s iron ore requirements will be renegotiated at the appropriate time to ensure continuity of supply.

For further information about BlueScope Steel Limited: www.bluescopesteel.com

Contacts: Media May Meere Manager Corporate Affairs BlueScope Steel Limited Tel: +61 3 9666 4004 Mobile: +61 439 100 469 E-mail: May.Meere@bluescopesteel.com

Investors

John Knowles Vice President Investor Relations BlueScope Steel Limited Tel: +61 3 9666 4150 Mobile: +61 419 893 491 E-mail: John.Knowles@bluescopesteel.com