2017 Final Dividend Currency Exchange Rates

South32 Limited

(Incorporated in Australia under the Corporations Act 2001 (Cth))

(ACN 093 732 597)

ASX / LSE / JSE Share Code: S32 ADR: SOUHY

ISIN: AU000000S320

south32.net

21st September 2017

2017 FINAL DIVIDEND CURRENCY EXCHANGE RATES

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUY) (South32) advised on 24 August 2017 that the Board resolved to pay a final dividend of US 6.4 cents per share (fully franked) for the full year ended 30 June 2017. The dividend payment date is 12 October 2017.

The US cent currency exchange rate applicable to the dividend payable in Australian cents, British pence and New Zealand cents is determined as the volume weighted average price achieved on foreign exchange trades executed over the period 8 September 2017 to 20 September 2017, and is detailed below:

On 11 September 2017, South32 announced to the Johannesburg Stock Exchange that the US cent currency exchange rate applicable to the dividend payable in South African cents to shareholders on the South African branch register on the Record Date is the volume weighted average price achieved on foreign exchange trades executed over the period 4 September 2017 to 8 September 2017:

About South32

South32 is a globally diversified mining and metals company with high quality operations in Australia, Southern Africa and South America. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We have a simple strategy to maximise the potential of our assets and shareholder returns by optimising our existing operations, unlocking their potential and identifying new opportunities to compete for capital.

Further information

Shareholders can manage their shareholding via the Computershare Investor Centre at www.computershare.com to:

· update their address, communication preferences, banking and tax details;

· view their holdings, dividend and payment, and transaction history information; and

· download statements and documents.

Alternatively, refer to the relevant Investor Centre noted below if you have queries about your dividend:

· Australian holders may visit online at www.computershare.com.au/Investor or by calling Computershare Investor Services on 1800 019 953 or +61 3 9415 4169 (Monday to Friday 8.30am to 5.00pm AEST)

· South African holders may call Smart number: 0861 100 950

· UK Depositary Interest holders may visit online at www.investorcentre.co.uk

Further information on South32 can be found at www.south32.net.

JSE Sponsor: UBS South Africa (Pty) Ltd21 September 2017