2018 CORPORATE PROFILE Diversified. Dedicated. Driven. 16,300 Australia’s employees and largest contractors in One of the thermal coal Australia largest buyers producer of grain and oilseeds from Australian growers

One of Australia’s largest producers of , , nickel and cobalt About

We are one of the world’s largest companies. Our business covers three broad We own and operate a diverse mix of assets all over the world, sectors: Metals and , Energy and we’re engaged at every stage of the commodity supply Products and Glencore Agriculture, Metals and Energy Agriculture chain; a unique business model that maximises value for all which are supported by our extensive minerals our stakeholders. global marketing network.

We are present at every point of the value chain, from where commodities are sourced to where they are consumed. Uniquely A unique The right diversified by marketing business commodity mix 146,000 commodity, that extracts value Employees and contractors for changing geography and across the entire needs 90 activity supply chain Commodities across three business segments

4,000 • Fully integrated across the • Future demand patterns for • As a marketer of commodities, Employees in marketing commodity supply chain maturing economies are likely we can extract value from the full to favour mid and late cycle range of arbitrage opportunities • Presence in 50 countries across commodities 150 operating sites • We create value from our 1,200 • Major producer of later cycle economies of scale, our extensive • Producing and marketing more Vessels on the ocean at any commodities including the supply base, our logistics, risk than 90 commodities across three one time enabling materials (copper, cobalt, management and working capital business segments nickel) that underpin the battery financing capabilities • Diversified across multiple chemistry and infrastructure likely 7,000+ suppliers and customers to power electric vehicles and low Long-term relationships with emission storage systems suppliers and customers www.glencore.com

2 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 3 About Glencore Our Australian operations

Australia is an important part of our global business. We’ve operated here for 20 years and hold significant Darwin Aurukun interests in a range of commodity industries across all mainland states and the Northern Territory. Borroloola Cairns

Townsville In 2017, Glencore contributed more than $15.1 billion to Bowen regional, state and national Mackay economies in Australia.*

16,300 Gladstone Employees and contractors

$1.9 b Wages and salaries

$10.7 b Kalgoorlie Spent on goods and services Perth Cobar Kwinana Newcastle $1.4 b ( Regional headquarters) Taxes and royalties paid to Adelaide Port Kembla state and federal governments

Metals & minerals Energy products $1.1 b Copper Oil Zinc Coal Capital and sustaining investment Melbourne Nickel Agriculture Bauxite Port facilities Technology and storage $9 m City/Town Container packing & Regional community processing facilities investment initiatives Key upcountry storage sites

* The taxes and royalties figure represents Glencore’s share of every operation we operate and manage in Australia. All other figures represent 100% of the operations that Glencore manages in Australia and include our joint venture partners’ interests in Glencore Agriculture, Ernest Henry (Copper) and our various coal joint ventures. All dollar figures in this document are AUD, and relate to the 2017 calendar year, unless otherwise stated.

4 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 5 About Glencore The history of our business in Australia

Glencore has been a major investor in Australia for 20 years. Our operations and investments have created and maintained thousands of jobs, directly and indirectly, and support thousands of businesses across the country.

–– MIM Holdings Limited –– –– Mount Margaret Mining –– Ernest Henry Mining –– Mangoola –– Copper Refineries Limited –– Blakefield South –– Port Operations –– Bowen Coke ––Xstrata acquisition CSA Mine– – Xstrata IPO– – –– McArthur River Mining –– Oaky Creek –– Ulan West Teralba– – Cook– – –– Newlands –– Liddell (expansion) –– Ravensworth North West Wallsend– – Narama– – –– Collinsville –– Rolleston (expansion) Westside– – Ravensworth– – –– Rolleston ––Resource Pacific –– McArthur River Mining (expansion) Liddell– – –– Ravensworth United– – Ulan– – –– Glencore Grain Underground Hunter Valley Operations– –

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

–– Bulga Lady Loretta– – Viterra– – –– Glencore –– Beltana McArthur River Mining– – Bunkers –– Bulga South (expansion) Ulan OC (expansion)(expansioni– – –– Integra –– Baal Bone Mount Isa Mines–  – Jubilee Mines ( United Wambo – – Mine expansion) –– ––Minara Resources Sinclair– – –– Clermont –– Murrin Murrin Cosmos– – –– Glendell (expansion) –– Cumnock Coal Tahmoor– – –– Ernest Henry Mining –– Mt Owen (transition from open cut to underground)

Operations Copper Zinc Nickel Coal Oil Agriculture

6 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 7 Energy products Coal

Our 2017 contribution 7,600 $894 m $5.2 b $388 m Employees Wages and Spent on goods Capital and contractors salaries and services investment

We are Australia’s largest coal producer, with 17 mining operations across New South Wales and . In 2017 we produced over 88 million tonnes of saleable thermal and coking coal. Our coal is exported from the ports of Abbot Point, Dalrymple Bay, Wiggins Island Coal Export Terminal, RG Tanna coal terminal (in Queensland) and from the Port of Newcastle and Port Kembla (in NSW).

Australian management team Peter Freyberg, Global Head of Coal Assets Ian Cribb, Chief Operating Officer, Coal Assets Australia

OPERATIONS2 METHODS PRODUCTS 2017 PRODUCTION1 Collinsville Open Cut Open cut Thermal, Coking 2,150,000 t Newlands Open Cut Open cut Thermal, Coking 5,645,000 t Clermont Open Cut Open cut Thermal 11,780,000 t Energy Oaky Creek Coal Underground Coking 4,817,000 t products Rolleston Open Cut Open cut Thermal 14,417,000 t Ulan Coal Open cut/underground Thermal 10,419,000 t Mangoola Open Cut Open cut Thermal 9,002,000 t Liddell Open Cut Open cut Thermal, Coking 2,878,000 t Mount Owen Coal Open cut Thermal, Coking 7,805,000 t Ravensworth Coal Open cut Thermal, Coking 7,200,000 t Integra Underground Coking 792,000 t Bulga Coal Open cut/underground Thermal, Coking 9,694,000 t Tahmoor Underground3 Underground Coking, Thermal 1,598,000 t

1 Managed equivalent saleable production t = tonnes

2 Glencore also has ownership interests in the United coal mine in the NSW Hunter Valley which is not currently in production. We have also acquired a 49% stake in Hunter Valley Operations open cut coal mine in NSW and are in the process of acquiring an 82% stake in the Hail Creek open cut coal mine in Queensland 3 In 2018, Glencore sold the Tahmoor coal mine to SIMEC Mining

8 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 9 Abbot Point Coal Terminal (T1) Bowen Collinsville Open Cut

Mackay Newlands Coal

Dalrymple Bay Coal Terminal

Galilee Basin Bowen Clermont Open Cut Basin

Oaky North Rockhampton

Gladstone

Rolleston Open Cut

Wiggins Island Coal Export Terminal RG Tanna Coal Terminal

QUEENSLAND

Surat Basin

Energy products Brisbane Our coal operations in New South Wales Our coal operations in Queensland

NEW SOUTH WALES Mangoola Open Cut Abbot Point Coal Terminal (T1) Bowen Hunter Valley Operations * A Collinsville Open Cut Liddell Open Cut

Mount Owen Coal Mackay Mount Owen Newlands Coal Glendell Dalrymple Bay Coal Terminal Ulan Coal Ravensworth Coal Ulan Ulan West Integra Underground Galilee Basin Ulan Underground B C Bowen Clermont Open Cut D Basin

Bulga Coal Oaky North Bulga Open Cut Rockhampton Port Waratah Coal Services Bulga Underground E Newcastle Gladstone F Sydney Rolleston Open Cut (Regional headquarters) Tahmoor Underground Wiggins Island Port Kembla Coal Terminal Coal Export Terminal Wollongong RG Tanna Coal Terminal G

Coalfi elds QUEENSLAND A Gunnedah Coalfi eld B Western Coalfi eld C Hunter Coalfi eld Surat Basin D Gloucester Coalfi eld E Newcastle Coalfi eld Brisbane F Central Coalfi eld G Southern Coalfi eld

Mine site Mine site Underground mine Underground mine Open cut mine Open cut mine Other asset Other asset Port facilities and storage Port facilities and storage * Glencore completed the acquisition of a 49% stake Rail in Hunter Valley Operations in May 2018. Rail NEW SOUTH WALES Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate ProfileMangoola Australia Open Cut 10 A 11 Liddell Open Cut

Mount Owen Coal Mount Owen Glendell

Ulan Coal Ravensworth Coal Ulan Ulan West Integra Underground Ulan Underground B C D

Bulga Coal Bulga Open Cut Port Waratah Coal Services Bulga Underground E Newcastle

F Sydney (Regional headquarters) Tahmoor Underground Port Kembla Coal Terminal Wollongong G

Coalfi elds A Gunnedah Coalfi eld B Western Coalfi eld C Hunter Coalfi eld D Gloucester Coalfi eld E Newcastle Coalfi eld F Central Coalfi eld G Southern Coalfi eld Energy products Oil

Glencore’s oil business in Australia supplies our mining and agricultural operations’ fuel needs. We also supply fuel into the wholesale fuel market, independents and the marine fuel industry.

Darwin

Cairns

Townsville Mount Isa Mackay

Gladstone

Brisbane

Newcastle Kalgoorlie Perth Port Jackson Metals and Coogee Port Botany Sydney minerals Adelaide Port Kembla

Melbourne

Site Truck Barge Pipeline

12 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 13 Metals and minerals Copper

Our 2017 contribution 3,700 $450 m $650 m $311 m Employees Wages and Spent on goods Capital and contractors salaries and services investment

Townsville operations NORTH WEST QUEENSLAND Copper Refi neries Ltd Our Australian copper business is integrated across the entire supply MINERALS Townsville Glencore Port Operations PROVINCE chain, from resource development, mining and processing, to transport, Mount Isa Bowen storage and export to worldwide customers. Mount Isa Mines Cloncurry X41 Enterprise Queensland New South Wales Copper concentrator Ernest Henry Mining Copper smelter Underground mine Rockhampton Our north Queensland copper mining Our CSA Mine in Cobar is Australia’s Copper concentrator and processing assets include the Mount highest grade copper mine. Copper Isa Mines complex, Ernest Henry Mining from the mine is exported via the Port of near Cloncurry, and our copper refinery in Newcastle. Our CSA Mine employs about QUEENSLAND Townsville. Our copper is exported from the 545 people. Port of Townsville. Our north Queensland Brisbane copper operations employ about Australian management team 3,200 people, including contractors. Mike Westerman, Chief Operating Officer, Copper Assets Australia NEW SOUTH WALES Matt O’Neill, Chief Operating Officer, CSA Mine North Queensland Copper Assets Underground mine Newcastle Copper concentrator Pedro Quinteros, Executive Officer, Port Waratah CSA Mine Sydney (Regional headquarters)

OPERATIONS ASSETS 2017 PRODUCTION Mount Isa Mines copper Enterprise underground mine Cathode and copper 229,097 t 1 operations X41 underground mine in concentrates Copper concentrator Copper smelter Ernest Henry Mining Underground copper mine Copper concentrator Copper Refineries Ltd Electrolytic copper refinery CSA Mine Underground mine Copper in 53,400 t Mine site Copper concentrator concentrates

Underground mine 1 Mount Isa, Ernest Henry, Townsville – total production, t = tonnes Other asset including third party feed Port facilities and storage Rail

14 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 15 Metals and minerals Zinc

Our 2017 contribution Darwin

GULF OF 2,200 $254 m $558 m $331 m Bing Bong CARPENTARIA Loading Facility Employees Wages and Spent on goods Capital Borroloola and contractors salaries and services investment McArthur River Mine Open cut mine Zinc- Townsville operations concentrator NORTH WEST Glencore Port Operations Glencore hosts two of the world’s largest zinc resource bases at QUEENSLAND Townsville Lady Loretta Mine MINERALS Mount Isa Mines and McArthur River Mine. PROVINCE

Mount Isa Queensland Northern Territory NORTHERN Mount Isa Mines In North Queensland, we operate the Our McArthur River Mine (MRM) is located George Fisher Mine TERRITORY Zinc-lead concentrator Rockhampton George Fisher underground mine, Lady about 970 kilometres south-east of Lead smelter Loretta underground mine, a zinc-lead Darwin and includes an open cut mine concentrator, zinc-lead filter plant and and processing facilities. Our zinc and lead lead smelter. Our zinc and lead products is exported from the Bing Bong loading QUEENSLAND are exported from the Port of Townsville. facility on the Gulf of Carpentaria. Our MRM Our Mount Isa zinc operations employ operations employ about 950 people. Brisbane about 1,250 people. Australian management team Greg Ashe, Chief Operating Officer, Zinc Assets Australia Denis Hamel, Executive General Manager, Zinc Assets Australia

OPERATIONS ASSETS 2017 PRODUCTION Mount Isa zinc George Fisher underground mine Zinc in concentrates 436,000 t operations Zinc-lead concentrator Lead in concentrates 156,400 t Lead smelter in concentrates 7,114,000 oz Lady Loretta underground mine McArthur River Open cut mine Mine Zinc-lead concentrator Mine site Bing Bong Loading Facility Underground mine Open cut mine t = tonnes oz = ounces Other asset Port facilities and storage Rail

16 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 17 Metals and minerals Nickel

Our 2017 contribution Darwin 950 $107 m $580 m $18 m Employees Wages and Spent on goods Capital and contractors salaries and services investment

We are one of Australia’s largest nickel and cobalt producers. Our Murrin Murrin hydrometallurgical nickel project is located between Leonora and Laverton in the north-eastern Goldfields region of Western Australia. Townsville ISAKIDD Jameson Cells deliver more concentrate per dollar, per metre and per year Murrin Murrin is operated by Minara Australian management in more than 350 installations around the world. Townsville Resources, wholly owned by Glencore. Peter Hancock, Vice President, Our nickel and cobalt is exported from Minara Resources Kwinana, south of Perth. In 2017, we produced 41,990 tonnes of Glencore Technology nickel and 3,042 tonnes of cobalt in metal (including third-party feed). Glencore Technology develops innovative products that help producers extract more from their metal and processing assets. ISASMELT™, IsaKidd™, IsaMill™, and WESTERN AUSTRALIA Albion Process™ have been developed in the real world and proven in more than 400 operations across every continent.

EASTERN ISASMELT™ is still helping operations Glencore Technology also provides Glencore Technology offi ce GOLDFIELDS break recovery records in after Glencore with expertise in process TERRANE more than 30 years. IsaMill™ and Jameson improvement, flowsheet performance Brisbane Cell deliver more and better concentrate to and metallurgical trouble-shooting. Laverton downstream stages in mining operations. Leonora Murrin Murrin IsaKidd™ cathode plates and robotics Australian management Open cut mine account for more than 11 mt per annum of Paul Telford, General Manager, Nickel and cobalt processing plant world copper production. Albion Process™, Glencore Technology commercialised in 2009, is delivering Kalgoorlie improved returns, through tougher Perth environments, over traditional mineral Kwinana techniques.

Mine site Sydney Open cut mine (Regional headquarters) Other asset Adelaide Port facilities and storage Rail Melbourne 18 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 19

Nickel mine Port facilities and storage Rail Agriculture

Our 2017 contribution 1,650 $98 m $3.6 b $24 m Employees Wages and Spent on goods Capital and contractors salaries and services investment

We are a significant contributor to the agricultural industry in Australia, connecting agricultural commodities safely and efficiently between growers and customers in Australia and overseas.

We originate, handle, store, transport Viterra’s storage and handling business and market a range of agricultural received 6.9 million tonnes of grain in 2017, commodities, including wheat, barley, with 7.1 million tonnes shipped through oilseeds, pulses, sorghum, meals its South Australian ports on behalf of SOUTH and cotton. 10 exporters. AUSTRALIA In 2017, our marketing business bought Narrabri Australian management team more than 6.2 million tonnes of agricultural commodities directly from growers across Tim Krause, General Manager, Thevenard NEW SOUTH WALES Australia to connect with domestic and Viterra overseas customers. Newcastle Philip Hughes, General Manager Trading, Glencore Agriculture Sydney Two Wells (Regional headquarters) Adelaide Port Lincoln STORAGE AND HANDLING Wallaroo About 10 million tonnes total storage, with sites ranging in SITES capacity from 6,000 tonnes to over 600,000 tonnes Ardrossan Port Giles Dooen CONTAINER PACKING AND Port Adelaide Dooen Melbourne PROCESSING FACILITIES Outer Harbor VICTORIA Two Wells Narrabri Inner Harbour PORTS Thevenard Ardrossan (non-grain) Inner Harbour Melbourne Port Lincoln Port Giles (Adelaide) Wallaroo Outer Harbor (Adelaide) COMMODITIES Wheat Peas Sorghum Barley Chickpeas Protein meals Canola Faba beans Cotton Lentils Lupins CORPORATE OFFICES Adelaide Melbourne GRAIN ACCUMULATION Fremantle Dooen Narrabri OFFICES Swan Hill Wagga Wagga Toowoomba Key upcountry storage sites Container packing and processing facilities Port facilities and storage Rail

20 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 21 About Glencore Taxes and Royalties

In 2017, Glencore paid more than $1.4 billion in taxes and royalties to Federal and State Governments in Australia. In the past 10 years, Glencore operations have paid more than $12 billion in taxes and royalties in Australia, of which nearly $2 billion was corporate income tax.

When it comes to our tax and royalty • The price of all of these commodities Daily Commodity Price Relative Change contribution, it is important to note: improved considerably during 2017 after a five-year downturn, marked Indexed to 1 January 2011 (%) • Corporate income tax is paid on taxable by low prices and low profitability. 160 160 profits, not on revenue The improved commodity market • Our business is cyclical, highly capital and prices was reflected in Glencore’s intensive and our investment is long- profitability in Australia, and hence 140 140 term in nature corporate tax liability • Our profitability in Australia is • Mining royalties are generally 120 120 generally driven by the price of our calculated and paid as a percentage core commodities: coal, copper, nickel of revenue per unit (tonne, ounce) of and zinc product sold 100 100

80 80 Taxes and royalties paid since 2008 (summarised)

COMPANY PAYROLL AND 60 60 COMPANY TAX ROYALTIES OTHER TAXES TOTAL Federal Government $1,910 m – $3,374 m $5,284 m 40 40 State Government – $5,565 m $1,262 m $6,827 m Total $1,910 m $5,565 m $4,636 m $12,111 m 20 20 Taxes and royalties paid for calendar year 2017

COMPANY 0 0 PAYROLL AND COMPANY TAX ROYALTIES OTHER TAXES TOTAL Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 Federal Government ($0) – $562 m $562 m LME Copper Spot LME Zinc Spot Source: Bloomberg State Government – $747 m $165 m $912 m LME Nickel Spot gc NEWc (Thermal Coal) Total ($0) $747 m $727 m $1,474 m

22 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia 23 A unique business model

Glencore is highly diversified by geography and by commodity. We participate throughout the entire natural resources supply chain.

Coal Exploration, acquisition and development Thermal coal is mainly used to generate electricity or heat. It is particularly useful for generating baseload power. Our focus on brownfield sites and exploration close Coking coal is used in steel production. We produce both to existing assets lowers our risk profile and lets us premium ‘hard coking coal’ and lower-quality ‘semi-soft use existing infrastructure, realise synergies and coking coal’, to suit customer needs. control costs.

Copper Extraction and production From electronics, renewable energy and the electric car We mine and beneficiate minerals across a revolution, copper has a vast range of household and range of commodities, mining techniques and industrial uses. It is the preferred metal in many of these countries, for processing or at our own applications because of its superior electrical conductivity, facilities, or for sale. and ability to heat up and cool down quickly.

Processing and refining Zinc Our expertise and technological Zinc is mainly used to galvanise steel or iron – that is, advancement in processing and refining to apply a zinc coating to stop it rusting. Galvanised mean we can optimise our end products steel is used in buildings, cars and electronics. Lead to suit a wider customer base and provide has a wide range of industrial uses including car a security of supply as well as valuable batteries, weights, solders and radiation protection. market knowledge.

Nickel Blending and optimisation Nickel is mainly used to make : it adds Our ability to blend and optimise allows us to strength and corrosion resistance to the steel, and is offer a wide range of product specifications, also used in types of steel designed to be less magnetic. resulting in a superior service and an ability to Nickel compounds are used in batteries – increasingly so meet our customer specific requirements. in the powerful batteries used in electric vehicles.

Logistics and delivery Agricultural products Our logistics assets allow us to handle large volumes of Glencore Agriculture’s main customers include food commodities, both to fulfil our obligations and to take manufacturers, animal feed manufacturers, consumer advantage of demand and supply imbalances. These product processors, local importers and distributors and value added services make us a preferred counterparty for government purchasing bodies. From farm to fork, we customers without such capabilities. connect growers with customers safely and efficiently.

24 Glencore 2018 Corporate Profile Australia Glencore 2018 Corporate Profile Australia JUNE 2018

www.glencore.com.au

@GlencoreAus

facebook.com/GlencoreAus

CONTACT Agata Graham Tel. +61 7 3833 8365 [email protected] Francis De Rosa Tel. +61 2 8247 6352 [email protected] Cass McCarthy Tel. +61 2 8247 6353 [email protected]

Glencore Operations Australia Pty Ltd ABN 40 128 115 140 Level 44, Gateway 1 Macquarie Place Sydney NSW 2000 Australia T. +61 2 8247 6300 F. +61 2 9251 4740 D10_GLN2886A_06/18