BHP Billiton

Company Overview

The largest company in a consolidating sector

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Mark

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/08/

03 (U

S$Bn

)

Market value of minerals industry US$306 bnValue of Top Five US$141 bnValue of BHP Billiton US$ 42 bn

Source: Datastream

With outstanding assets in each CSG

Base MetalsBase MetalsCopperCopper

ZincZincLeadLead

Energy Coal Energy Coal Operations in Operations in SthSthAfrica, Australia, Africa, Australia,

US, ColombiaUS, Colombia

AluminiumAluminiumAluminaAlumina

AluminiumAluminium

PetroleumPetroleumOilOilGasGasLNGLNG CSMCSM

Iron Ore, Coking Iron Ore, Coking Coal, Manganese,Coal, Manganese,

BoodarieBoodarie IronIron

Operating Excellence and Technical

Capability

D&SPD&SPDiamondsDiamonds

RBMRBMIntegris

SSMSSMNickelNickel

ChromeChrome Integris

Deep inventory of projects

2004 2005CY2003 2006 2007

B R O W N F I E L D

Energy CoalNickel

Aluminium

Carbon SteelBase Metals

PetroleumSize of bubble indicatesproposed capital expenditure; bold outer border signifies sanctioned project

$US 200m$US 200m

As at 28 August 2003G R E E N F I E L D

MountArthur North

MountArthur North

Dendrobium

YabuluR’thorpeYabulu

R’thorpe

AtlantisAtlantisSpenceSpence

OhanetOhanet

Minerva

Esc’daNorte

Esc’daNorte

Angostura

NWS4th Train

NWS4th Train

RODROD

Hillside 3Hillside 3

MadDogMadDog

Area CArea C

Esc’daSulphideEsc’da

Sulphide

Cerrejon Exp’n

Klipspruit

PACEPACE

Paranam

WAIO Acc Exp’n

Broadmeadow

GoM Infrastr.

Customer focussed marketing

CorporateStrategy, Corporate GovernancePortfolio composition, M&A

Marketing

Centralised MarketingFunction

TheHague Singapore

Aluminium BaseMetals

CarbonSteel

Materials

DiamondsSpecialtyProducts

Stainless Steel

Materials

Energy Coal

CUSTOMER SECTOR GROUPS – the business units

Petroleum

A global footprint

Energy CoalDiamonds & Spec Prod

Aluminium

Carbon Steel Materials

Base Metals

Petroleum

Stainless Steel Materials

Outstanding diversification – stable cash flows

Data for year ended 30 June 2003

EuropeOther AsiaNorth AmericaJapanRest of WorldAustralia

By MarketSales:

14%

32%

14%

10% 10%

20%

By GeographyNet Operating Assets:

South AmericaAustraliaSouthern AfricaNorth AmericaRest of World

30%

33%21%

9% 7%

By CommodityCustomer Sector Group EBIT:

Carbon Steel MaterialsPetroleumEnergy CoalAluminiumDiamonds & Spec. Prod.Base MetalsStainless Steel Materials

27%

31%5%15%

10%8% 4%

Results highlights –year ended 30 June2002(US$M) 2003 % Change% Change

17,5065,1293,4811,920

(19)1,9013,59030.912.714.5

15,2284,6973,1021,866(244)1,6223,60031.010.913.0

+15.0+9.2

+12.2+2.9

+17.2-0.3-0.3

+16.5+11.5

(1) From continuing operations and including share of joint ventures and associates.(2) Excluding exceptional items.

Turnover(1)

EBITDA(1)(2)

EBIT(1)(2)

Attrib profit (1)(2)

Exceptional itemsAttrib profit (incl exceptionals)Available cash flow (1)

EPS (US cents)(1)(2)

EBITDA interest cover (times)(1)(2)

Dividends per share (US cents)

Stainless Steel Materials• World’s fourth largest primary nickel producer and a market leading

producer of ferrochrome• Primary nickel assets are the Cerro Matoso mine and smelter in

Colombia, and the Yabulu refinery in Queensland, Australia• 60% share in ferrochrome producer Samancor, with two mining

centres and three integrated ferrochrome plants in South Africa• Vision is to be the leading integrated supplier of raw materials to

the stainless steel industry

Stainless Steel Materials – Facts & Figures

FY 2003• Attributable production

•Nickel 78 thousand tonnes•Chrome ores 2 826 thousand tonnes•Ferrochrome 990 thousand tonnes

• Turnover US$1 106 million• EBITDA US$246 million• EBIT US$150 million• Net operating assets US$1 695 million• Capital and investment expenditure US$121 million

BHP Billiton in Colombia

• More than 20 years in Colombia• Investments during the last 5 years: USD 1,215,000,000• Direct employees 4850• Exports from Colombia (2002) USD 885,788,000