BHP Billiton Operational Review for the Nine Months Ended 31 March 2015.

Group production increased by 9% for the nine months ended March 2015 with records achieved for
10 operations and five commodities. We remain on track to deliver Group production growth(1) of 16%
over the two years to the end of the 2015 financial year.
 Petroleum production increased by 6% to a record 193 MMboe supported by a 76% increase in Onshore
US liquids volumes to 40.2 MMboe. Guidance for the 2015 financial year remains unchanged at
255 MMboe.
 Copper production(2) increased by 2% to 1.3 Mt as strong underlying operating performance at
Escondida more than offset the impacts of severe weather in Northern Chile, lower grades at Antamina
and a mill outage at Olympic Dam. Production for the 2015 financial year is now expected to be 1.7 Mt.
 Western Australia Iron Ore (WAIO) production increased by 16% to a record 188 Mt (100% basis)
underpinned by continued improvements in our integrated supply chain. WAIO production for the 2015
financial year is now expected to be 250 Mt (100% basis). The potential of our installed infrastructure
continues to exceed expectations and as a result we are deferring the Inner Harbour Debottlenecking
project. While this will lead to a slower path to system capacity of 290 Mtpa, it will come at a lower
capital cost.
 Metallurgical coal production increased by 14% to 38 Mt and reflected record volumes at both
Queensland Coal and Illawarra Coal. Production for the 2015 financial year is now expected to be 49 Mt.

BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “Our teams continue to exceed expectations and
deliver strong operating performance. Our commitment to sustainably improve productivity and lower costs is
helping mitigate the impact of subdued commodity prices and supporting returns for our shareholders.
“In Iron Ore, our focus remains on producing at the lowest possible cost with Western Australia Iron Ore unit costs
now below US$20 per tonne(3) as we continue to improve productivity. Over the last decade, China’s
unprecedented demand growth provided Australia and BHP Billiton with a unique opportunity. We acted swiftly to
bring on new iron ore capacity at some of the lowest costs globally, generating long-term value for shareholders,
the government and communities which would otherwise have been lost to overseas competitors. Despite the
subsequent increase in supply-side competition, these low-cost expansions continue to deliver attractive margins
and returns through the cycle.
“In Petroleum, we have responded quickly to current market conditions by reducing the number of rigs operated in
our Onshore US business by 35 per cent over the March 2015 quarter. We continue to review our drilling and
development program as we seek to maximise the value of our resource base. With higher oil prices expected over
the medium term, we believe deferring development will create more value than producing today. Our high-quality
acreage and excellent operating performance, with industry-leading drilling costs, gives us a strong platform from
which to build.
“The proposed demerger of South32 is also on track, with the BHP Billiton Board unanimously recommending
shareholders vote in favour of the demerger. With a more focused portfolio, BHP Billiton will have the potential to
unlock further shareholder value, while creating a new global diversified metals and mining company with a
significant industry presence in each of its major commodities.”

Read the rest of the press release in PDF: http://www.bhpbilliton.com/home/investors/news/Documents/2015/150422_BHPBillitonOperationalReviewfortheNineMonthsEnded31March2015.pdf