Olympic Dam, Australia Retail Briefing Alex Vanselow Chief Financial Officer June 2010 Disclaimer Reliance on Third Party Information The views expressed here 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. Forward Looking Statements This presentation includes forward-looking statements within the meaning of the U.S. Securities Litigation Reform Act of 1995 regarding future events and the future financial performance of BHP Billiton. 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. For more detail on those risks, you should refer to the sections of our annual report on Form 20-F for the year ended 30 June 2009 entitled “Risk factors”, “Forward looking statements” and “Operating and financial review and prospects” filed with the U.S. Securities and Exchange Commission. No Offer of Securities Nothing in this release 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. Non-GAAP Financial Information BHP Billiton results are reported under International Financial Reporting Standards (IFRS). References to Underlying EBIT and EBITDA exclude any exceptional items. A reconciliation to statutory EBIT is contained within the profit announcement, available at our website www.bhpbilliton.com. Cautionary Note to US Investors The SEC generally permits mining companies in their filings with the SEC to disclose only those mineral deposits that the company can economically and legally extract. Certain terms in this presentation, including "mineral resources", "measured resources", "indicated resources", "inferred resources", "resource life" and " potential mineralisation" would not generally be permitted in an SEC filing. The material denoted by such terms is not proven or probable reserves as such terms are used in the SEC's Industry Guide 7, and there can be no assurance that BHP Billiton will be able to convert such material to proven or probable reserves or extract such material economically. BHP Billiton urges investors to refer to its Annual Report or Form 20-F for the fiscal year ended 30 June 2009 for its most recent statement of mineral reserves calculated in accordance with Industry Guide 7. BHP Billiton Retail Briefing Slide 1 A diversified global portfolio AAlluminiumuminium EnEnergergyy CoCoal MetalluMetallurgrgicalical CoCoalal #4#4 gloglobalbal prprododucerucer ofof baubauxitexite andand #4#4 alaluminuminiiuumm One of the worrlld'ss larglargest producers and ProduceProduce aandnd mmaarketrket highhigh qqualualiittyy hardhard cokcokiing compancompanyy bbaasesedd onon netnet thirdthird ppaartrtyy salsaleess marketers of exportrt thermalthermal ccoal coalscoals forfor thethe intinternatiornational steell industrindustryy BaseBase MetMetaalsls PetroleumPetroleum IronIron OreOre #3#3 gloglobalbal prprododucerucer ofof copper,copper, AA significasignificantnt oiloil andand gasgas eexxpplloorrationation OneOne ofof thethe wwoorrlld’sd’s premipremieerr susupplipplieersrs ofof ironiron oreore silversilver anandd lealeadd andand proproductioductionn businessbusiness DiaDiammondsonds && SpeSpecciiaalltyty ProdProducuctsts MaManganganenessee Stainlless Steell MaterialsMaterials EKATIEKATI DiamondDiamond MineMine isis oneone ofof thethe wwoorld’srld’s OperationsOperations prprooduceduce aa combcombininationation ofof ores,ores, #3 global niickeckell producproducer largestlargest gemgem qquuaalitlityy diamdiamondond pprroducersoducers alloalloysys aandnd metmetaall Aluminium Base Metals Diamonds & Specialty Pro ducts Energy Coal Iron Ore Manganese Metallurgical Coal Petroleum Stainless Steel Materials Offices Note: Ranking based on production volumes. Location of markers indicative only. BHP Billiton Retail Briefing Slide 2 Australian Company FY2009 Revenue generated by region Head office Melbourne, Australia Rest of World Over 40,000 Australian employees and 40% contractors Australia 60% (>40% of total) US$31.9 billion Book value of assets based in Australia as at 30 June 2009 (41% of total) FY2009 Capital expenditure by region A$6.3 billion Total Australian taxes paid in FY09 Rest of World 33% 43 per cent Effective Australian tax rate in FY09 Australia 67% BHP Billiton Retail Briefing Slide 3 Diversity = Stability and Strength EBIT Margin(a) (%) 70 Petroleum 60 Aluminium 50 Base Metals D&SP 40 SSM 30 Iron Ore Manganese 20 Met Coal 10 Energy Coal BHP Billiton 0 H1(b) H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 2H 1H 2H(b) 1H FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 (a) Calculated on the basis of UKGAAP for periods prior to FY05, except for the exclusion of PRT from Petroleum's and BHP Billiton Group's results for all periods. All periods exclude third party trading activities. The Exploration and Technology business has been included in BHP Billiton Group's results from FY02 to FY05 and excluded from Diamonds and Speciality Products. (b) Negative margins are not shown as the y-axis is set at zero. SSM had a negative EBIT margin in H1 FY02, both Base Metals and SSM had negative EBIT margins in H1 FY09 and both Aluminium and SSM had negative EBIT margins in H2 09. BHP Billiton Retail Briefing Slide 4 Progressive growth and income Investments Cash Dividends(b) (US$bn) (US$bn) 24 Organic Growth 5 CAGR: 25% Non Organic (a) H1 CAGR: 20% Organic H2 20 4 16 3 12 2 8 1 4 0 0 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10F FY10F FY11F (a) Reflecting announced transactions only. FY11F relates to Western Australia Iron Ore Production Joint Venture equalisation payment to Rio Tinto which is subject to finalisation adjustments. (b) H2 FY10 payment includes dividend declared on 10 February 2010. Calculated on the basis of UKGAAP for periods prior to FY05. BHP Billiton Retail Briefing Slide 5 Maintenance of a deep diversified inventory of growth options Future options(a) Feasibility Execution NWSNWS PeakPeak DownsDowns WorsleyWorsley IndonesiaIndonesia Saraji CWLHCWLH SarajiSaraji Saraji Yeelirrie ExpExp (Caval(Caval E&GE&G CoalCoal Potash EastEast Yeelirrie Ridge) ThebeThebe ExpExp Potash BrowseBrowse Ridge) -- YoungYoung KipperKipper LNGLNG SamarcoSamarco 44 AtlantisAtlantis CMSACMSA HeapHeap CWCW AfricaAfrica N2N2 LeachLeach 11 WA Iron Ore NWSNWS ExpansionExpansion ofof WA Iron Ore ExplorationExploration WA Iron Ore HPX3HPX3 RGPRGP 55 GWFGWF OlympicOlympic DamDam 33 WA Iron Ore Newcastle WardsWards WellWell QuantumQuantum 22 Third Port Exp RedRed HillHill GabonGabon KennedyKennedy GuineaGuinea CerrejonCerrejon AngosturaAngostura UGUG OptOpt ExpExp BlackwaterBlackwater Escondida AluminaAlumina GasGas ExpansionExpansion ofof CaroonaCaroona Escondida GEMCOGEMCO TurrumTurrum DRCDRC UGUG PhasePhase VV OlympicOlympic DamDam 22 ExpExp SmelterSmelter Laguna Antamina Laguna SecaSeca MacedonMacedon Exp MtMt ArthurArthur PotashPotash –– Newcastle NimbaNimba ResolutionResolution CoalCoal JansenJansen Third Port NavajoNavajo SthSth PyreneesPyrenees PotashPotash (UG)(UG) -- BoulderBoulder ScarboroughScarborough SpenceSpence NWSNWS NthNth Knotty Mad Dog Expansion of DauniaDaunia Knotty RBMRBM HypogeneHypogene Mad Dog RankinRankin BB HeadHead Olympic Dam 1 PhasePhase 22 Potash Boffa/Santou Douglas-Douglas- WAWA IronIron OreOre Potash Boffa/Santou GoonyellaGoonyella MtMt ArthurArthur CoalCoal WAWA IronIron OreOre - Other Refinery MAC20MAC20 MiddelburgMiddelburg QuantumQuantum 11 - Other Refinery ExpansionsExpansions EKATIEKATI (MACX)(MACX) RGPRGP 66 As at 29 Jan 2010 Proposed capital expenditure Australian based options ≤≤$500m$500m $501m-$2bn$501m-$2bn $2bn+$2bn+ Other The proposed new super tax on resources in Australia adds a layer of uncertainty to our project approval process and timing. (a) Placement of Future Options not indicative of Project Schedule. BHP Billiton Retail Briefing Slide 6 Steel intensity per capita grows strongly as a nation becomes wealthier Industrial development & finished steel consumption growth (kg) China/India steel intensity 1,200 Other country steel intensities South Korea Possible path range for China by 2025 1,000 800 China today 600 Japan Germany 400 USA 200 India today 0 0 5 10 15 20 25 30 35 40 45 50 55 Real GDP per Capita (US$’000) Source: CISA, WMM, Global Insight, BHP Billiton. BHP Billiton Retail Briefing Slide 7 Global near term risks remain Unemployment rates US borrowing flows by Sector (annualised) (%) (US$bn) 12 3,000 USA Government EU 2,500 Business Japan Household 2,000 9 1,500 1,000 500 6 0 (500) 3 (1,000) Q4 99 Q4 00 Q4 01 Q4 02 Q4 03 Q4 04 Q4 05 Q4 06 Q4 07 Q4 08 Q4 09 Jan 00 Jan 01 Jan 02 Jan 03 Jan 04 Jan 05 Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Source: US Federal Reserve Flow of Funds. Source: Government Employment Statistics. Annualised Borrowing calculated from the quarterly change in debt outstanding. BHP Billiton Retail Briefing Slide 8 What is the proposed resources super tax . A 40% additional tax on operating profits – Rebate for state royalties already paid – Applied pre-interest expense – Deductible for company tax – Consequently, increases to 57% the