UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

2212 ~~April~~May 2026

BHP GROUP LIMITED

(ABN 49 004 028 077)

(Exact name of Registrant as specified in its charter)

VICTORIA, AUSTRALIA

(Jurisdiction of incorporation or organisation)

171 COLLINS STREET, MELBOURNE,

VICTORIA 3000 AUSTRALIA

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☒ Form 20-F ☐ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ☐ Yes ☒ No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a

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22Exchange ~~April~~release ~~2026~~

~~Operational review for the nine months ended 31~~12 ~~March~~May 2026

~~Strong~~Bank ~~operational~~of ~~performance~~America in2026 ~~copper~~Global ~~and iron ore~~Metals, Mining asand weSteel ~~continue~~Conference ~~to advance our growth projects~~

“BHP ~~has~~President ~~delivered~~Americas ~~strong~~and ~~performance~~Chief ~~over~~Executive ~~the~~Officer ~~past~~(from ~~nine~~1 July ~~months~~2026), ~~including~~Brandon ~~record~~Craig, ~~material~~will ~~mined~~present ~~and concentrator throughput~~ at ~~Escondida~~the ~~and~~Bank ~~record~~of ~~production~~America ~~at WAIO.~~2026 ~~These~~Global ~~results~~Metals, ~~reflect~~Mining ~~the~~and Steel ~~consistency~~Conference ofin ~~our~~Miami, ~~operations~~USA ~~and~~today ~~the~~at ~~strength~~9:30am ofEastern ~~our~~Daylight ~~high~~Time ~~margin~~(11:30pm ~~diversified~~Australian ~~portfolio~~Eastern inStandard ~~an evolving operating environment~~Time).

~~In copper,~~The ~~strong~~presentation ~~performance~~slides atare ~~Escondida~~attached and Antamina supports our expectation of delivering production in the upper half of FY26 Group copper guidance. We continue to make steady progress across our copper growth program, consistent with our focus onalso ~~long-life,~~available ~~high-quality~~at: copper supply and disciplined capital allocation. During the quarter we submitted a permit application for Escondida’s new concentrator, and Resolution Copper achieved a key milestone, allowing the project to progress drilling required to complete its mine design and feasibility study. Our balance sheet remains strong, and in the last month we have realised ~US$4.8 bn by completing the Antamina silver streaming transaction and finalising the divestment of Carajás, as well as cash received in relation to the earlier divestment of Blackwater and Daunia.

~~Our centralised procurement capability and our low~~https://www.bhp.com/investors/presentations-~~cost operations have positioned us advantageously in the face of industry wide pressure on the cost of energy~~ events/presentations-and ~~consumables as a result of the conflict in the Middle East.~~ -briefings

~~From~~A ~~1 July~~transcript ~~2026,~~of ~~Brandon~~the ~~Craig~~presentation will ~~assume~~also ~~the~~be ~~role~~available ofshortly ~~CEO,~~after ~~taking BHP forward from a strong position with reliable operations and a significant pipeline of copper and potash growth projects, to deliver long term value through~~ the ~~cycle.”~~presentation at:

~~Mike Henry,~~ https://www.bhp.com/investors/presentations-events/presentations-and-briefings

~~BHP~~An ~~Chief~~audio ~~Executive~~webcast ~~Officer~~of the presentation can be listened to at:

Summary
Operational excellence		CEO succession
Upper half copper; iron ore on track		Brandon Craig to succeed Mike Henry
FY26 Group copper production is now expected to be in the upper half of the guidance range, with Escondida (upper half) and Antamina (increased) offsetting Spence (lowered due to the ongoing challenges of managing variable ore characteristics). Samarco is now expected to achieve the top end of its FY26 production guidance range. FY26 unit cost guidance has been improved at Escondida, with BMA now guiding to the top end of its range. All other assets remain unchanged, however we continue to actively manage the impacts of higher diesel and consumables costs, as well as movements in foreign exchange rates, on the underlying cost base of our assets.		In March, the Board of BHP announced that Brandon Craig will become Chief Executive Officer (CEO) and a Director of BHP Group Limited on 1 July 2026, succeeding the current CEO, Mike Henry, who will step down after six and a half years in the role. Brandon brings more than 25 years of operational and corporate leadership experience at BHP to the role, most recently as BHP’s President Americas. During his time in this role, BHP became the world’s largest copper producer and advanced high quality growth options in copper and potash across Canada, the United States and South America.
Disciplined capital management		Copper growth
Extracting value from non-core assets		Advancing copper growth projects
In April, we completed a silver streaming transaction with Wheaton Precious Metals and received total upfront consideration of US$4.3 bn. We also finalised the divestment of the Carajás assets with US$240 m received on completion (plus cash adjustments), and with potential for up to an additional US$225 m to be received as contingent payments based on performance targets.		In March, we submitted the Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, which is the centre piece of Escondida’s growth program. Resolution Copper, a joint venture between Rio Tinto (55% and operator) and BHP (45%), completed a land exchange in Arizona, United States. Resolution Copper can now advance further resource data collection and initiate early underground development at one of the largest untapped, high-Ggrade copper resources in the world.

https://bofa.veracast.com/webcasts/bofa/metalsminingsteel2025/idb4X570.cfm

Production	Quarter performance								YTD performance					FY26 guidance
	Q3 FY26		v Q2 FY26			v Q3 FY25			YTD MarFY26		v YTD MarFY25			Previous		Current
Copper (kt)		476.8		(3	%)		(7	%)		1,460.9		(3	%)		1,900 – 2,000		1,900 – 2,000	Upper half
Escondida (kt)		303.2		(4	%)		(9	%)		949.3		(3	%)		1,200 – 1,275		1,200 – 1,275	Upper half
Pampa Norte (Spence) (kt)		44.6		(23	%)		(34	%)		158.1		(19	%)		230 – 250		210 – 220	Lowered
Copper South Australia (kt)		82.8		10	%		5	%		230.5		3	%		310 – 340		310 – 340	-
Antamina (kt)		44.1		15	%		43	%		116.2		19	%		140 – 150		150 – 160	Increased
Carajás (kt)		2.1		(11	%)		10	%		6.8		(6	%)		-		-	-
Iron ore (Mt)		62.8		(10	%)		2	%		196.6		2	%		258 – 269		258 – 269	-
WAIO (Mt)		60.9		(10	%)		1	%		190.7		1	%		251 – 262		251 – 262	-
WAIO (100% basis) (Mt)		69.8		(9	%)		3	%		216.3		2	%		284 – 296		284 – 296	-
Samarco (Mt)		1.9		(3	%)		17	%		5.9		37	%		7 – 7.5		7 – 7.5	Top end
Steelmaking coal – BMA (Mt)		3.8		(11	%)		(3	%)		13.0		1	%		18 – 20		18 – 20	-
BMA (100% basis) (Mt)		7.6		(11	%)		(3	%)		25.9		1	%		36 – 40		36 – 40	Lower half
Energy coal – NSWEC (Mt)		4.0		(12	%)		12	%		12.2		11	%		14 – 16		14 – 16	Upper half

Authorised for release by Stefanie Wilkinson, Group General Counsel and Group Company Secretary

~~Note:~~BHP ~~Updates~~Group ~~with~~Limited ~~respect~~ABN to49 ~~FY26~~004 ~~production~~028 077 ~~guidance since the HY26 Results Announcement are shown in italics.~~

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~~BHP~~Contacts ~~| Operational review for the nine months ended 31 March 2026~~

Segment and asset performance | FY26 YTD v FY25 YTD


Media		Investor Relations
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Europe, Middle East and Africa		Europe, Middle East and Africa
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BHP Group Limited
ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
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Tel: +61 1300 55 4757 Fax: +61 3 9609 3015
BHP Group is headquartered in Australia

bhp.com

Copper
Production 1,461 kt ê3% YTD Mar FY25 1,500 kt FY26e 1,900 – 2,000 kt Average realised price US$5.47/lb é31% YTD Mar FY25 US$4.19/lb		Total copper production decreased 3% to 1,461 kt. Copper production guidance for FY26 remains unchanged at between 1,900 and 2,000 kt and is now expected to be in the upper half of the range. Escondida 949 kt ê3% (100% basis) Production decreased primarily due to planned lower concentrator feed grade of 0.91% (FY25 YTD: 1.05%). This was partially offset by strong operational performance, with record material mined and record concentrator throughput, as well as improved recoveries driven by operational enhancements, including the introduction of new reagents. Cathode production increased, supported by higher sulphide leach production and additional leach pad irrigation. Production guidance for FY26 remains unchanged at between 1,200 and 1,275 kt and is now expected to be in the upper half of the range. Concentrator feed grade guidance remains unchanged at between 0.85 and 0.90% for the full year. Unit cost guidance for FY26 has been lowered to between US$1.00 and US$1.20/lb (from US$1.20 to US$1.50/lb previously), reflecting the increased contribution of by-product credits and strong operational performance. The Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, the centre piece of the growth program, was submitted in March 2026. The new concentrator is expected to require an investment of between US$4.4 and US$5.9 bn to deliver between 220 and 260 ktpa of copper, more than offsetting the existing production capacity of the current Los Colorados plant. Subject to environmental permit approval, the project will progress towards an expected final investment decision (FID) in CY27-28, with potential first production between CY31-32.
		Pampa Norte (Spence) 158kt ê19%
		Production decreased due to challenges with managing the ore complexity, variation and declining grades at both the concentrator and the cathode plant.
		At the cathode plant, production decreased due to the planned decline in stacked feed grade as we progress deeper into the hypogene mineral area of the ore body. We continue to test the implementation of BHP’s Simple Approach to Leaching 2 (SaL2) technology at the sulphide leach pad to enable processing of hypogene ores and utilise latent capacity in the cathode infrastructure.
		At the concentrator, ongoing challenges associated with managing ore complexity and variability have reduced recoveries which requires additional ore blending and flotation time to address these impacts. We plan to invest in upgraded flotation cells, which are expected to enable improved processing and recoveries, with a potential FID in H1 FY27.
		Production guidance for FY26 has been lowered to between 210 and 220 kt (from between 230 and 250 kt previously).
		Copper South Australia 231 kt é3%
		Production increased primarily driven by strong underlying operational performance, and the weather-related power outage in the prior period. Olympic Dam achieved record material mined, ore milled and concentrate smelted while production also benefited from higher feed grades at Prominent Hill. Material mined at Carrapateena increased 11%, including record performance in Q3 FY26, which partially offset the impact of planned lower grades.
		Production guidance for FY26 remains unchanged at between 310 and 340 kt.
		By-product production was also strong, including record refined gold volumes.
		In Q3 FY26, concentrate and associated by-product sales decreased due to wet weather impacts at Prominent Hill, including site access road closures which affected logistics. This is expected to result in higher FY26 closing inventories.

BHP Group Limited ABN 49 004 028 077

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2Bank of America Global Metals, Mining & Steel Conference 2026 Brandon Craig President Americas and Chief Executive Officer (from 1 July 2026) Escondida

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Disclaimer The information in this presentation is current as at 12 May 2026. It is in summary form and is not necessarily complete. It should be read together with the BHP |Results ~~Operational~~for the half year ended 31 December 2025. Forward-looking statements This presentation contains forward-looking statements, which involve risks and uncertainties. Forward-looking statements include all statements other than statements of historical or present facts, including: statements regarding: trends in commodity prices and currency exchange rates; demand for commodities; global market conditions; reserves and resources estimates; development and production forecasts; guidance; expectations, plans, strategies and objectives of management; climate scenarios; approval of projects and consummation of transactions; closure, divestment, acquisition or integration of certain assets, ventures, operations or facilities (including associated costs or benefits); anticipated production or construction commencement dates; capital costs and scheduling; operating costs, and availability of materials and skilled employees; anticipated productive lives of projects, mines and facilities; the availability, implementation and adoption of new technologies, including artificial intelligence; provisions and contingent liabilities; and tax, legal and other regulatory developments. Forward-looking statements may be identified by the use of terminology, including, but not limited to, ‘aim’, ‘ambition’, ‘anticipate’, ‘aspiration’, ‘believe’, ‘commit’, ‘continue’, ‘could’, ‘desire’, ‘ensure’, ‘estimate’, ‘expect’, ‘forecast’, ‘goal’, ‘guidance’, ‘intend’, ‘likely’, ‘may’, ‘milestone’, ‘must’, ‘need’, ‘objective’, ‘outlook’, ‘pathways’, ‘plan’, ‘project’, ‘schedule’, ‘seek’, ‘should’, ‘strategy’, ‘target’, ‘trend’, ‘will’, ‘would’ or similar words. These statements discuss future expectations or performance, or provide other forward-looking information. Forward-looking statements are based on management’s expectations and reflect judgements, assumptions, estimates and other information available as at the date of this presentation. These statements do not represent guarantees or predictions of future financial or operational 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. BHP cautions against reliance on any forward-looking statements. For example, our future revenues from our assets, projects or mines described in this presentation will be based, in part, on the market price of the commodities produced, which may vary significantly from current levels or those reflected in our reserves and resources estimates. These variations, if materially adverse, may affect the timing or the feasibility of the development of a particular project, the expansion of certain facilities or mines, or the continuation of existing assets. Other factors that may affect our future operations and performance, including the actual construction or production commencement dates, revenues, costs or production output and anticipated lives of assets, mines or facilities include our ability to profitably produce and deliver the products extracted to applicable markets; the development and use of new technologies and related risks; the impact of economic and geopolitical factors, including foreign currency exchange rates on the market prices of the commodities we produce and competition in the markets in which we operate; activities of government authorities in or impacting the countries where we sell our products and in the countries where we are exploring or developing projects, facilities or mines, including increases in taxes and royalties or implementation or expansion of trade or export restrictions; changes in environmental and other regulations; political or geopolitical uncertainty and conflicts; labour unrest; weather, climate variability or other manifestations of climate change; and other factors identified in the risk factors discussed in section 8.1 of the Operating and Financial Review (OFR) in the BHP Annual Report 2025 and BHP’s filings with the U.S. Securities and Exchange Commission (the ‘SEC’) (including in Annual Reports on Form 20-F) which are available on the SEC’s website at www.sec.gov . Except as required by applicable regulations or by law, BHP does not undertake to publicly update or review any forward-looking statements, whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance. Emissions and energy consumption data Due to the inherent uncertainty and limitations in measuring greenhouse gas (GHG) emissions and operational energy consumption under the calculation methodologies used in the preparation of such data, all GHG emissions and operational energy consumption data or references to GHG emissions and operational energy consumption volumes (including ratios or percentages) in this presentation are estimates. There may also be differences in the manner that third parties calculate or report GHG emissions or operational energy consumption data compared to BHP, which means third-party data may not be comparable to our data. For information on how we calculate our GHG emissions, refer to the BHP GHG Emissions Calculation Methodology 2025, available at bhp.com. Numbers presented may not add up precisely to the totals provided due to rounding. Presentation of data Unless expressly stated otherwise: variance analysis relates to the relative performance of BHP and/or its operations during the half year ended 31 December 2025 compared with the half year ended 31 December 2024; references to Underlying EBITDA margin excludes third-party products; data from subsidiaries are shown on a 100% basis and data from equity accounted investments and other operations is presented, with the exception of net operating assets, reflecting BHP’s share; medium-term refers to a five-year horizon, unless otherwise noted. Throughout this presentation, production volumes and financials for the operations ~~nine~~from ~~months~~BHP’s acquisition of OZ Minerals Limited (OZL) during FY23 are for the period of 1 May to 30 June 2023, whilst the acquisition completion date was 2 May 2023. Unless expressly stated otherwise, for information and data in this presentation related to BHP’s social value or sustainability position or performance: former OZL operations that form part of BHP’s Copper South Australia asset and the West Musgrave Project are included for FY24 and FY25 but excluded for prior financial years; former OZL Brazil assets are excluded; and all such information and data excludes BHP’s interest in non-operated assets. All footnote content (except in the Annexures) is contained on slide 13. Non-IFRS information We use various Non-IFRS information to reflect our underlying performance. For further information, the reconciliation of non-IFRS financial information to our statutory measures, reasons for usefulness and calculation methodology, please refer to ‘Non-IFRS financial information’ in the BHP Financial Report for the half year ended 31 December ~~March~~2025. No offer of securities Nothing in this presentation should be construed as either an offer or a solicitation of an offer to buy or sell BHP securities, in any jurisdiction, or be treated or relied upon as a recommendation or advice by BHP. Reliance on third party information The views expressed in this presentation 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. No financial or investment advice – South Africa BHP does not provide any financial or investment ‘advice’ as that term is defined in the South African Financial Advisory and Intermediary Services Act, 37 of 2002, and we strongly recommend that you seek professional advice. BHP and its subsidiaries In this presentation, the terms ‘BHP’, the ‘Company, the ‘Group’, ‘BHP Group’, ‘our business’, ‘organisation’, ‘we’, ‘us’, ‘our’ and ourselves’ refer to BHP Group Limited and, except where the context otherwise requires, our subsidiaries. Refer to Note 28 ‘Subsidiaries’ of the Financial Statements in the BHP Annual Report 2025 for a list of our significant subsidiaries. Those terms do not include non-operated assets. Our non-operated assets include Antamina, Samarco, Resolution and Vicuña. This presentation covers BHP’s functions and assets (including those under exploration, projects in development or execution phases, sites and operations that are closed or in the closure phase) that have been wholly owned and operated by BHP or that have been owned as a joint venture1 operated by BHP (referred to in this presentation as ‘operated assets’ or ‘operations’) from 1 July 2025 to 12 May 2026 unless otherwise stated. BHP also holds interests in assets that are owned as a joint venture but not operated by BHP (referred to in this presentation as ‘non-operated joint ventures’ or ‘non-operated assets’). Notwithstanding that this presentation may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. 1. References in this presentation to a ‘joint venture’ are used for convenience to collectively describe assets that are not wholly owned by BHP. Such references are not intended to characterise the legal relationship between the owners of the asset. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 2

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		Other copper
		At Antamina, copper production increased 19% to 116 kt as a result of planned higher feed grades and improved operational performance. Zinc production is 18% higher at 81 kt, as a result of planned higher feed grades. We now expect Antamina’s copper production for FY26 to be between 150 and 160 kt (from 140 to 150 kt previously). Zinc production guidance for FY26 remains unchanged at between 90 and 110kt.
		The divestment of Carajás to a subsidiary of CoreX Holding was completed on 2 April 2026 with US$240 m (plus cash adjustments) received on completion, and with potential for up to an additional US$225 m to be received as contingent payments based on a range of production and project related targets. Prior to divestment, Carajás had produced 6.8 kt of copper and 5.5 troy koz of gold.
Iron ore
Production 197 Mt é2% YTD Mar FY25 193 Mt FY26e 258 – 269 Mt Average realised price(WAIO) US$84.91/wmt é2% YTD Mar FY25 US$82.93/wmt		Iron ore production increased 2% to 197 Mt. Iron ore production guidance for FY26 remains unchanged at between 258 and 269 Mt. WAIO 191 Mt é1% \| 216 Mt (100% basis) WAIO achieved record production. At the mines, record material mined (up 7%) and draw down of inventory helped deliver record volumes from the Central Pilbara hub (South Flank and Mining Area C) with South Flank exceeding annualised nameplate capacity. At port, Car Dumper (CD) performance improved following the completion of the CD3 rebuild in Q1 FY26 (4.3 Mt impact, 100% basis), which alongside the planned reduction in tie- in activity on the multi-year Rail Technology Program (RTP1), generated increased efficiency across the rail network and higher inflow. We have concluded iron ore sales contract negotiations with the China Mineral Resources Group (CMRG). Production guidance for FY26 remains unchanged at between 251 and 262 Mt (284 and 296 Mt, 100% basis). Samarco 5.9 Mt é37% \| 11.8 Mt (100% basis) Production increased as a result of stronger performance at the second concentrator following ramp up, and higher feed grades and recoveries. Production guidance for FY26 remains unchanged at between 7 and 7.5 Mt and is now expected to be at the top end of the range, as a result of strong operating performance.
Coal Steelmaking coal
Production 13.0 Mt é1% YTD Mar FY25 12.9 Mt FY26e 18 – 20 Mt Average realised price US$200.25/t 0% YTD Mar FY25 US$200.12/t		BMA 13.0 Mt é1% \| 25.9 Mt (100% basis) Production increased with strong operational performance at the open cut operations, supported by the highest YTD stripping volumes in five years. This was partially offset by lower yield driven by mine sequencing in response to significant wet weather (the highest rainfall recorded in 15 years), ongoing geotechnical challenges at Broadmeadow, and Saraji South being placed into care and maintenance. The planned longwall move at Broadmeadow commenced in February and was completed in early April. Production guidance for FY26 remains unchanged at between 18 and 20 Mt (36 and 40 Mt, 100% basis), with production expected to be in the lower half of the range. Unit cost guidance for FY26 remains unchanged at between US$116 and US$128/t and is now expected to be at the top end of the range (previously upper half of the range). We expect to continue building raw coal inventory into CY27, to further improve operating stability.

BHP’s success has been built on a winning strategy BHP’s focus on the right commodities and high-quality assets operated exceptionally well2 has driven superior returns BHP has delivered ~25ppts. greater TSR1 than a basket of peers since 2020 The right commodities Total shareholder returns (TSR)1 (%) 350% Portfolio Simplification Leverage to megatrends Operational excellence Tier 1 assets operated Tier 1 assets Future-facing commodities3 BHP Operating System exceptionally well2 300% 250% Distinct approach to social value 200% 150% Disciplined capital allocation 100% 50% Superior returns 0% 2020 2022 2024 2026 BHP Peer Index4 MSCI World Materials ASX200 Materials Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 3

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BHP is in great shape today An industry leading investment case Best in class track record in meeting guidance1 >50% Operational excellence Copper EBITDA contribution more than doubled since FY23 to 51% Average EBITDA margins past 25 years2 Unlocking Disciplined capital Strong balance sheet adds resilience through the cycle allocation 3 3 Potential to unlock up to ~US$10 bn in undervalued capital ~US$6.3 bn ~30% increase in copper production over the last 4 years4 3 – 4% Growth Strong cash generation derisks project funding through the cycle Attributable CuEq CAGR to 20355 ~55% of market cap distributed as returns6 >US$110 bn Shareholder returns 50% minimum dividend policy, with additional returns every year Shareholder returns since CAF established over past 10 years6 Note: LTM – Last twelve months; CAGR – Compound Annual Growth Rate; CAF – Capital Allocation Framework. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 4

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The value of well operated tier 1 assets Best in class operatorship of tier 1 assets drives increasing cash margins through the cycle Copper price and AISC (Escondida vs marginal producer) Iron ore price and AISC (WAIO vs marginal producer) (US$/lb, real 2026) (US$/dmt, real 2026) 6.00 240 Exclusive of ocean-freight, a key BHP |cost ~~Operational~~advantage ~~review~~5.00 200 4.00 160 3.00 120 2.00 80 Inclusive of several 1.00 once-in-a-decade 40 items in sustaining capex 0.00 0 2000 2005 2010 2015 2020 2025 2009 2013 2017 2021 2025 1 1 2 2 2,3 Copper price Marginal producer AISC Escondida AISC Iron ore price (FOB) Marginal producer AISC WAIO AISC Source: BHP analysis, LME, Wood Mackenzie as of Q1 2026 (converted to real). Prices and costs are historical except 2026, which are Wood Mackenzie’s annual assumptions. 2026 prices from Wood Mackenzie, on a nominal basis, are ~$5.83/lb for ~~the~~copper ~~nine~~and ~~months~~~$87/dmt ~~ended~~for 31iron ~~March~~ore. 2026 C1 + sustaining capex, on a nominal basis, are i) Copper – ~$3.03/lb for the Marginal producer and ~$1.65/lb for Escondida; and ii) Iron ore – ~$96/dmt for the Marginal producer and ~$26/dmt for WAIO. Note: WAIO – Western Australia Iron Ore. AISC – all-in sustaining costs, defined as C1 costs1,2 plus sustaining capital expenditures. Marginal refers to the 90th percentile producer for copper and the traditional high-cost bench of producers for iron ore (highest ~150Mt). Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 5

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Energy coal
Production		NSWEC 12.2 Mt é11%
12.2 Mt é11% YTD Mar FY25 11.0 Mt FY26e 14 – 16 Mt Average realised price US$99.04/t ê15% YTD Mar FY25 US$115.99/t		Strong operational performance as a result of increased bypass coal due to mine sequencing. This was further supported by mining lower strip ratio areas. Production guidance for FY26 remains unchanged at between 14 and 16 Mt, with production expected to be in the upper half of the range.

Safety remains a non-negotiable and my first priority Commitment to zero fatalities and reducing High Potential Injuries (HPIs)1 BHP fatalities2 and HPIs1 FY2009-26 (Fatalities, #) (HPIs, #) 10 Fatalities HPIs 100 8 80 7 6 60 5 5 4 40 3 3 2 2 2 2 20 1 1 1 0 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Source: BHP HSEC Global reports. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 6

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~~Quarterly~~The next phase: more velocity, more ambition, same discipline We will leverage BOS, technology and partnerships to drive productivity and disciplined and consistent growth Further embedding BHP Operating System (BOS) Accelerating performance |Leveraging Q3technology ~~FY26~~to vcreate Q2sustained ~~FY26~~competitive advantage Building a faster and more agile BHP Delivering 3 – 4% CuEq production CAGR to 20351 from our existing growth projects Delivering consistent and Building a portfolio of options to drive additional growth, including opportunistic bolt-ons disciplined growth Ensuring disciplined capital allocation Strengthening safety and pursuing our social value framework goals Strengthening our Building partnerships and strategic relationships foundations & resilience Leveraging our diversified business model to drive returns and build resilience Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 7

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Copper		Iron ore
477 kt ê3% Q2 FY26 491 kt	Lower production at Escondida due to planned lower grades and at Spence due to the impact of complex ore characteristics on processing and recovery rates at the concentrator and lower stacked grades at the leach pad, partially offset by increased production at Copper SA and strong performance at Antamina.	63 Mt ê10% Q2 FY26 70 Mt	Lower production at WAIO driven by weather impacts from Tropical Cyclone Mitchell and Tropical Cyclone Narelle that led to a temporary port closure, operational adjustments and higher planned maintenance.
Steelmaking coal		Energy coal
3.8 Mt ê11% Q2 FY26 4.3 Mt	Lower production due to significantly higher rainfall as a result of Tropical Cyclone Koji, which restricted pit access and impacted stripping performance and yield during and after the event. This was partially offset by inventory drawdowns.	4.0 Mt ê12% Q2 FY26 4.6 Mt	Lower production due to lower bypass coal, wash plant feed and yield due to mine sequence, minor planned wash plant maintenance and unfavourable weather.

Leveraging BOS and technology to drive productivity Escondida has shown that successfully integrated, BOS and technology can accelerate operational improvement Escondida’s recent performance Escondida Operational Excellence Index (OEI)3 and McKinsey benchmarking4 79 Highest in McKinsey 13% 550 kt benchmarking study Accelerating Concentrator throughput Added to FY26-27 and further 55 60 improvement since FY23 medium-term production 59 1 McKinsey definition of through greater guidance world leading3 52 integration of 49 technology, 47 automation, AI 40 44 Behaviours become solutions and 40 embedded in culture BOS. ~US$1 bn First quartile C1 30 Cost savings since Cost curve position Basic embedment of BOS deployed2 relative to other mines operational excellence FY20 FY21 FY22 FY23 FY24 FY25 FY26 YTD Bank of America Global Metals, Mining & Steel Conference 2026 BHP financial year 12 May 2026 8

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Consistent and disciplined growth … Consistent growth driven by our portfolio of projects and a more programmatic approach to building optionality 2035 and beyond Existing growth projects Production target 220 – 260 ktpa Cu Escondida New Concentrator By 2035 Bolt-on acquisitions 235 – 280 CuEq Vicuña III By 2030 ~220 ktpa Cu Copper SA Phase 1 ~330 ktpa CuEq Jansen III Jansen II Partnerships & adjacencies ~200 ktpa Cu WRC* Vicuña Stage 1 2 ~300 ktpa CuEq Exploration CuSA II* Bolt-on acquisitions Jansen I ENC* WAIO growth >305 Mtpa Vicuña I Resolution* Vicuña II Antamina CD6* Jansen Stage 1 4.15 Mtpa Life Extension SCPY* Cerro Colorado ESO* ESO* 4.35 Mtpa Exploration Jansen Stage 2 CuSA I* Partnerships & adjacencies Jansen IV (incremental to Stage 1) Projects represent targeted first production dates. Timing shown is illustrative for Partnerships & adjacencies, Exploration, ESO* and Bolt-on acquisitions. FY27—30 FY27—35 Total Group production (CuEq1) 3 – 4% ~3% Iron ore Copper Potash Programmatic options FY27—35 Copper segment (CuEq1) ~5% *Note: ESO – Early-Stage Options. WRC – Western Ridge Crusher. ENC – Escondida New Concentrator. SCPY – Spence chalcopyrite leaching. CuSA – Copper South Australia. CD6 – Car Dumper 6. Resolution pending further drilling required for resource definition. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 9

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… which is more reliable than our peers’ Delivering increased and more reliable copper production guidance while our peers are cutting theirs Increasing copper production guidance … … which investors can bank on (Mt, change in copper production guidance over last 16 months1) Cumulative BHP |(average ~~Operational~~delta ~~review~~from ~~for~~initial ~~the~~production guidance ~~nine~~from ~~months~~FY23 ~~ended~~– 31FY262) ~~March~~increase ~0.2 Mt to 2027 4% Peer 1 (0.0) Peer 2/3 Peer 4/5/6 Peer 7 0% (0.4) Peer 8 (4%) (0.8) Peer 9 (8%) (1.2) (12%) (1.6) (16%) Cumulative peer decrease to 2027 (2.0) ~2.0 Mt (20%) 2025 2026 2027 BHP Peers Source: BHP analysis, publicly available reports. Peers include: Anglo; Glencore; Rio Tinto; South32; Vale. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 10

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~~Appendix~~Delivering today and into the next decade BHP is in great shape today, with a strategy in place to win in the next decade Stronger foundation and Tier 1 assets resilience Consistent and disciplined Accelerating performance growth Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 11

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~~Average~~Footnotes Slide 3 – BHP’s success has been built on a winning strategy Slide 6 – Safety remains a non-negotiable and my first priority (1) TSR performance sourced from Bloomberg, presented on a cumulative basis in USD March 2020 to February 2026. BHP’s TSR (1) High-potential injuries (HPI’s) are recordable injuries and first aid cases where there was the potential for a fatality. This definition is performance reflects a 60/40 Ltd/Plc blend pre-unification (31 Jan 2022) and Ltd only post-Unification. Rio Tinto’s TSR performance independent of the Queensland Coal definition of “high potential incident” which is defined in the Queensland Coal Health and Safety reflects a 25/75 Ltd/Plc blend. TSR assumes net dividends are reinvested on the ex-dividend date at the closing share price. legislation. HPI’s: FY16-FY20 data includes Continuing operations and divested operations as reported in the end of FY20. Former OZ (2) BHP is a best-in-class operator with a superior track record of meeting guidance compared to diversified mining peers over a 10-year Minerals Australian assets (acquired 2 May 2023), are included starting in FY24. FY21- FY23 excludes (entirely) divested operations as period. Source: BHP analysis and broker reports. follows: BHP Mitsui Coal (divested on 3 May 2022), BHP’s oil and gas portfolio (merger with Woodside completed on 1 June 2022). (3) Future-facing commodity: A commodity that BHP determines to be positively leveraged in the energy transition and broader global (2) Data includes continuing operations and divested operations. response to climate change, with potential for decades-long demand growth to support emerging megatrends like electrification and decarbonisation. Currently, the major commodities in the BHP portfolio that fall within this criterion include copper, nickel and potash. Slide 7 – The next phase: more velocity, more ambition, same discipline (4) Peers include Anglo-American, Glencore, Rio Tinto and Vale. (1) Compound annual growth rate FY27 to FY35 based on attributable copper equivalent production, excluding NSWEC, Carajás and WA Nickel, fixed at long term UBS consensus prices as of December 2025: copper US$4.37/lb, gold US$2,824/oz, iron ore US$84/t, Slide 4 – BHP is in great shape today steelmaking coal US$199/t, potash US$352/t. Copper CAGR includes both copper and by-products from the copper assets. (1) Best track record in meeting guidance compared to diversified miners over a 10-year period. Source: BHP analysis and broker reports. (2) BHP underlying EBITDA margin (excluding third party products). On a total operations basis. 25-year average includes all half-year Slide 8 – Leveraging BOS and technology to drive productivity reporting periods from HY02 to HY26 (inclusive). Underlying EBITDA margin is non-IFRS information. There may be differences in the (1) The increase in FY26 and FY27 production guidance ranges, combined with the extension of medium-term production manner that third parties calculate or report this information compared to BHP, which means third-party data may not be comparable to guidance to FY31 relative to plans outlined at the Chilean copper site tour in November 2024, have generated our data. For further information refer to ‘Non-IFRS financial information’ in the BHP Financial Report for the half year ended 31 opportunities to create 550 kt of incremental copper volumes over this period. December 2025. (2) Annual in year operating cost savings from FY21 to H1 FY26. Not audited in financial statements but validated through internal review (3) Refers to US$4.3 bn realised ~~pricesi~~by completing the Antamina silver streaming transaction and a US$2 bn binding agreement BHP entered process and verification. with Global Infrastructure Partners (GIP), in relation to BHP’s share of Western Australia Iron Ore’s (WAIO) inland power network. (3) In 2023 Escondida Cathodes (Electrowinning team) was awarded a Shingo Prize. This prize is awarded to businesses that demonstrate Completion of the agreement with GIP is subject to certain regulatory approvals including Foreign Investment Review Board approval. 3 years of sustained high performance by integrating the Shingo Model principles into their culture and operations. The BHP OEI The potential to unlock up to ~US$10 bn in undervalued capital through infrastructure linked transactions, substantial by-products, non- assessments are conducted by a team of internal BHP assessors trained and coached by the senior McKinsey OEI assessor. They use core assets and future growth investments represents our current aspiration and is not intended to be a projection or forecast. McKinsey’s dedicated maturity assessment tool, process and system which is similar in nature to the Shingo Prize assessments and (4) CY2025 copper production compared to CY2021. Includes both organic and inorganic growth. benchmarked across more than 1,200 individual assessments. There are approximately 70 global companies actively using the (5) Compound annual growth rate FY27 to FY35 based on attributable copper equivalent production, excluding NSWEC, Carajás and WA McKinsey benchmarking tool today. Nickel, fixed at long term UBS consensus prices as of December 2025: copper US$4.37/lb, gold US$2,824/oz, iron ore US$84/t, (4) McKinsey’s Operational Excellence Index (OEI) provides a benchmark for establishing operational performance baselines and steelmaking coal US$199/t, potash US$352/t. Copper CAGR includes both copper and by-products from the copper assets. measuring improvements over time. A score above 55 (out of 100) is among the best operational-excellence organisations in the world. (6) Based on announced shareholder returns paid from FY17 – FY26 inclusive of the H1 FY26 dividend announced. Market capitalisation 79 is the maximum score achieved by any organisation using the McKinsey assessment tool. of US$200 bn on 27 April 2026. Slide 9 – Consistent and disciplined growth … Slide 5 – The value of well operated tier 1 assets (1) Compound annual growth rate FY27 to FY35 based on attributable copper equivalent production, excluding NSWEC, Carajás and WA (1) Copper C1 costs: direct cash costs for mining, milling and concentrating, leaching, SxEW, on-site admin and expenses, essential off- Nickel, fixed at long term UBS consensus prices as of December 2025: copper US$4.37/lb, gold US$2,824/oz, iron ore US$84/t, site services, smelting/refining charges, freight, marketing, property and severance taxes (that are not profit-related). Escondida costs steelmaking coal US$199/t, potash US$352/t. Copper CAGR includes both copper and by-products from the copper assets. are on a 100% basis. (2) Copper equivalent production includes estimated production rates and contribution from by-products, as well as potential impacts from (2) Iron ore price refers to annual Fines 62% (FOB Australia), prices prior to 2009 omitted as they reflect benchmark contract equivalents. our exploration program. Copper equivalency calculated using Vicuña metal prices of US$4.60/lb Cu, US$3,300/oz Au and US$40/oz Iron ore C1 costs: direct cash costs for mining, processing, transport, pelletising, port and overhead. Ag, using the formula: {(Cu (t) produced*$10,141+Au (oz) produced*$3,300+Ag (oz) produced*40 ) / $10,141/t Cu)}. Stage I ~300ktpa (3) Aggregate WAIO costs calculated as a weighted average (by production) of the costs for each specific mine. WAIO costs are on a CuEq includes ~200ktpa of copper, ~375kozpa of gold and ~1.5Mozpa of silver. Based on first 5 full years of production, prior to Stage 100% basis. III expansion. Potential life of mine based on Mineral Resources only. Slide 10 – … which is more ‘reliable’ than our peers’ (1) Production downgrades and upgrades announced in the last 16 months for calendar years 2025-2027 as of 1 May 2026. Key peers include six of the seven largest Cu producers: namely Codelco, Freeport-McMoRan, Glencore, Southern Copper, Rio Tinto and Anglo American; as well as Teck, First Quantum Minerals and Ivanhoe Mines. Cumulative peer decrease includes the impact of all increases and decreases to guidance. (2) Source: SBG Securities broker report published 1 April 2026. Based on weighted average copper equivalent production relative to the mid-point of initial production guidance published. Acquisitions and disposals have been removed from guidance analysis in the year of transaction. BHP, Rio Tinto and Vale provide 1 years’ guidance, South 32 provides 2 years’ guidance, Glencore and Anglo American Bank of America Global Metals, Mining & Steel Conference 2026 provide 3 years’ guidance. 12 May 2026 13

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	Quarter performance						YTD performance
		Q3 FY26	v Q2 FY26		v Q3 FY25			YTD Mar FY26	v YTD Mar FY25
Copper (US$/lb)		5.86	(1	%)	29	%		5.47	31	%
Iron ore (US$/wmt, FOB)		85.35	0	%	(2	%)		84.91	2	%
Steelmaking coal (US$/t)		226.76	15	%	23	%		200.25	0	%
Energy coal (US$/t)ii		105.61	10	%	8	%		99.04	(15	%)

Supplementary material

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iDiversification ~~Based~~delivers ongrowth ~~provisional~~and resilient cash flow BHP’s diversification generates positive free cash flow through the cycle, ~~unaudited~~advancing ~~estimates.~~growth ~~Prices~~while ~~exclude~~delivering ~~sales~~shareholder ~~from~~returns ~~equity~~Five-year ~~accounted~~cumulative ~~investments~~free cash flow1,2 ~~third~~(US$ ~~party~~bn, ~~product~~attributable ~~and~~basis, ~~internal~~FY26-30 ~~sales~~inclusive) ~$60 bn 120 ~$40 bn 90 ~$10 bn 60 Iron ore NOCF 30 Iron ore capex Copper & potash NOCF 0 Copper & potash capex (30) NOJVs investing CF (60) Coal, Group and ~~represent~~Unallocated ~~the~~items ~~weighted~~NOCF ~~average~~Spot ofConsensus ~~various~~3-year ~~sales~~low ~~terms~~(maintained 5 years) (~~for~~maintained ~~example~~5 years) (maintained 5 years) Copper $6.00/lb $5.50/lb $3.50/lb Iron ore $108/t $92/t $80/t Potash $350/t $370/t $280/t Note: ~~FOB,~~NOCF ~~CIF~~– Net Operating Cash Flow. CF – Cash Flow. Copper price sensitivity also includes Gold, Silver and ~~CFR)~~Uranium by-products price sensitivity. 1. Post-tax, ~~unless~~unlevered ~~otherwise~~free ~~noted~~cash flow for BHP Group, after subtracting dividends paid to non controlling interests. Operating ~~Includes~~Cash ~~the~~Flow ~~impact~~includes positive cash contributions from Antamina JV. NOJVs investing CF includes cash flow contributions into Vicuna JV, Resolution JV as well as Samarco obligations classified as investing CF. 2. BHP internal analysis for spot, consensus and 3-year low scenarios based on 1 May 2026 spot prices, average of ~~provisional~~FY26-29 ~~pricing~~consensus prices and ~~finalisation~~long-term ~~adjustments~~consensus commodity price forecasts respectively. 3-year low prices based on CY23-25 inclusive. Analysis uses medium-term production guidance disclosed in slide 44 of BHP’s Half year Fiscal 2026 Results Presentation. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 15

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iiA ~~Export~~disciplined ~~sales~~and ~~only~~targeted approach to capital allocation Maximising value through our well-established framework, delivering strong shareholder returns and growth A stronger and more resilient business enables investment and returns through the cycle Portfolio Sector Average EBITDA margin >50% the past 25 years leading Copper contributed 51% of H1 FY26 Group EBITDA Operating Capital margins EBITDA margins of >60% in Copper and Iron Ore productivity productivity Net operating cash flow Strong Net operating cash flow of >US$15 bn consistently since FY10 operating Cash flow generation supports our funding requirements cash flow Increased exposure to future-facing commodities Maintenance and decarbonisation capital Balance CAF is embedded in all decision making Strong balance sheet sheet Advancing our high-quality pipeline of organic growth opportunities strength and Delivered returns >US$110 bn, ~55%1 of market capitalisation low leverage Minimum 50% payout ratio dividend Excess cash + Unlock Potential to unlock up to ~US$10 bn; US$6.32 ~~Includes~~bn ~~thermal~~to ~~coal~~be ~~sales~~realised undervalued US$4.32 bn proceeds from ~~steelmaking~~Antamina ~~coal~~silver ~~mines~~stream agreement to be assessed Balance Additional Organic Acquisitions/ Buy-backs capital under the CAF in H2 FY26 sheet dividends development (Divestments) 1. As of April 27, 2026. 2. Refers to US$4.3 bn realised by completing the Antamina silver streaming transaction and a US$2 bn binding agreement BHP entered with Global Infrastructure Partners (GIP), in relation to BHP’s share of Western Australia Iron Ore’s (WAIO) inland power network. Completion of the agreement with GIP is expected towards the end of FY2026, subject to certain regulatory approvals including Foreign Investment Review Board approval. The potential to unlock up to ~US$10 bn in undervalued capital through infrastructure linked transactions, substantial by-Bank of America Global Metals, Mining & Steel Conference 2026 products, non-core assets and future growth investments represents our current aspiration and is not intended to be a projection or forecast. 12 May 2026 16

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~~Current~~Best suite of organic copper projects A portfolio of low capital intensity, high returning organic copper growth projects which can be sequenced and optimised Estimated capital Estimated capital Potential FID Potential first Potential expenditure intensity (Final Investment production production profile (US$ bn1) (US$k/t CuEq1) Decision) (year) ~~unit~~(ktpa Cu)2 ~~cost~~Projects ~~guidance~~Escondida New Concentrator 220 – 260 US$4.4 – 5.9 US$15 – 21 CY27 – 28 CY31 – 32 Construction of new concentrator to replace Los Colorados 235 – 280 CuEq Vicuña (100%)3 – Stage I ~200 US$7 – 84 US$20 – 30 ~CY26 CY30 Construction of district mill ~300 CuEq Spence chalcopyrite leaching (SCPY & ripios dump) 40 – 60 US$0.6 – 0.9 US$10 – 16 CY26 CY28 Sulphide leaching technology to extend cathode production life 40 – 60 CuEq Copper SA Phase 1 Growth 380—500 Cu US$3.1 – 4.0 Not applicable CY27 CY32 Smelter and Refinery Expansion5 590 – 750 CuEq Copper SA Phase 1 Growth ~220 Cu US$5.4 – 6.9 US$16 – 21 CY27 | CY29 CY29 Mines and Concentrators (Carrapateena and Olympic Dam)6 ~330 CuEq Cerro Colorado restart 85 – 100 US$2.3 – 3.2 US$23 – 32 CY28 – 31 CY31 – 34 Application of leaching technology to restart operations 85 – 100 CuEq Vicuña (100%)3 – All Stages ~500 ~US$18 US$20 – 30 CY27-2030s CY30-mid 2030s Stages I, II and III ~800 CuEq Copper SA Phase 2 Growth ~190 Cu US$4.5 – 5.8 US$20 – 26 CY32 CY38 Mines and Concentrators (i.e. Oak Dam, OD Deeps) ~230 CuEq 1. All estimated capital expenditures and capital intensities are quoted on a real basis (1 Jan 2026), except for Escondida, Spence and Cerro Colorado estimated capital expenditures which are quoted on a nominal basis to align with the BHP Chile Site Visit in November 2024. Capital expenditure excludes commercial commitment investments (for example leases and outsourced infrastructure). 2. Production outputs based on 10-year average for all projects except for Vicuña (100% basis) – Stage I, which uses production outputs based on a 5-year average due to Stage 1 production post-5 years not reported separately from Stage 3 production in Vicuña study. Potential CuEq production profiles are calculated using UBS long-term consensus prices as of December 2025: copper $4.37/lb, gold $2,824/oz, silver $34/oz, zinc $1.21/lb, uranium $73/lb, except for Vicuña JV, which is calculated based on the Vicuña metal prices of copper $4.60/lb, gold $3,300/oz and silver $40/oz and Escondida which is calculated consistently with the BHP Chile Site Visit in November 2024 at $4.50/lb copper consensus price (real 2024) based on the median of long-term forecasts from Bank of America, Barrenjoey, Citi, Deutsche Bank, Goldman Sachs, JPMorgan and UBS. 3. BHP holds a 50% share in the non-operated Vicuña joint venture. 4. Vicuña did not estimate a range for Stage 1 capex. BHP applied a range of -5% to +10%. BHP holds a 50% share in the non-operated Vicuña joint venture. 5. Smelter sizing subject to Final Investment Decision, with remaining concentrate sold to market. Copper SA Phase 1 Growth potential production figures disclosed are non-cumulative. 6. FID for Carrapateena in CY27 and Olympic Dam in CY29. First production at Carrapateena. Carrapateena metrics representative of 12Mtpa Block cave. Bank of America Global Metals, Mining & Steel Conference 2026 12 May 2026 17

FY26 unit cost guidancei

Unit cost

Current

Escondida (US$/lb)

1.20 – 1.50

1.00 – 1.20

Lowered

Spence (US$/lb)

2.10 – 2.40

Copper SA (US$/lb)ii

1.00 – 1.50

WAIO (US$/t)

18.25 – 19.75

BMA (US$/t)

116 – 128

Top end

i FY26 unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940. Italics signify an update since the HY26 Results Announcement.

ii Copper SA unit cost guidance is calculated using the following assumptions for by-products: gold US$2,900/oz, and uranium US$70/lb.

Medium term guidancei

	Productionguidance		Unit costguidanceii
Escondidaiii		900 – 1,000 ktpa		US$1.50 – 1.80/lb
Spence		~235 ktpa		US$2.05 – 2.35/lb
WAIO (100% basis)iv		>305 Mtpa		<US$17.50/t
BMA (100% basis)		43 – 45 Mtpa		<US$110/t

i Medium term refers to a five-year time horizon unless otherwise noted.

ii Unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940.

iii FY27 production guidance of 1,000 – 1,100 kt. Medium term refers to an average for FY28 to FY31.

iv Sustained production of >305 Mtpa (100% basis) from Q4 FY28.

Major projects

Commodity	Project and ownership	Project scope / capacity	Project expenditurei US$M	Firstproductiontarget date	Progress
Potash	Jansen Stage 1(Canada)100%	Design, engineering and construction of an underground potash mine and surface infrastructure, with capacity to produce 4.15 Mtpa.	8,400	Mid-CY27	Project is 78% complete
Potash	Jansen Stage 2(Canada)100%	Development of additional mining districts, completion of the second shaft hoist infrastructure, expansion of processing facilities and addition of rail cars to facilitate production of an incremental 4.36 Mtpa.	Under review – update expected in Q4 FY26	FY31	Project is 15% complete

i Includes: project capital expenditure, project operating expenditure, cost to construct right-of-use assets (i.e. Westshore port terminal and third-party rail line) and related contingencies.

Exploration

Minerals exploration and evaluation expenditure was US$275 m for YTD March FY26 (YTD March FY25: US$279 m), of which US$235 m was expensed (YTD March FY25: US$241 m).

BHP | Operational Review for the nine months ended 31 March 2026

Appendix 2

			Production																	Sales
			Quarter ended										Year to date							Quarter ended										Year to date
			Mar		Jun		Sep		Dec		Mar		Mar		Mar		Var			Mar		Jun		Sep		Dec		Mar		Mar		Mar		Var
			2025		2025		2025		2025		2026		2026		2025		%			2025		2025		2025		2025		2026		2026		2025		%
Group production and sales summary
By commodity
Metals production is payable metal unless otherwise noted.
Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.
Copper	Payable metal in concentrate	kt		379.8		375.9		374.0		366.5		347.7		1,088.2		1,132.1		(4	)%		399.0		377.6		343.0		373.8		350.0		1,066.8		1,163.3		(8	)%
	Escondida	kt		288.4		278.6		282.4		270.5		248.3		801.2		848.6		(6	)%		309.2		285.5		258.3		277.7		252.1		788.1		857.4		(8	)%
	Pampa Norte (Spence)	kt		36.1		42.2		35.4		33.3		25.7		94.4		108.4		(13	)%		36.5		37.3		33.2		27.9		34.9		96.0		117.0		(18	)%
	Copper South Australia	kt		22.5		31.7		19.9		22.2		27.5		69.6		70.2		(1	)%		23.8		30.9		15.9		24.8		18.0		58.7		80.1		(27	)%
	Antamina	kt		30.9		21.2		33.9		38.2		44.1		116.2		97.7		19	%		27.4		21.8		33.1		40.4		43.3		116.8		100.3		16	%
	Carajás	kt		1.9		2.2		2.4		2.3		2.1		6.8		7.2		(6	)%		2.1		2.1		2.5		3.0		1.7		7.2		8.5		(15	)%
	Cathode	kt		133.6		140.3		119.6		124.0		129.1		372.7		368.4		1	%		133.3		148.4		105.9		130.7		118.7		355.3		364.0		(2	)%
	Escondida	kt		45.2		48.7		46.5		46.7		54.9		148.1		129.0		15	%		47.4		52.7		38.1		50.0		50.1		138.2		128.2		8	%
	Pampa Norte (Spence)	kt		31.8		31.2		20.4		24.4		18.9		63.7		85.8		(26	)%		30.7		34.1		17.9		25.4		17.4		60.7		84.8		(28	)%
	Copper South Australia	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5	%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4	%
	Total	kt		513.4		516.2		493.6		490.5		476.8		1,460.9		1,500.5		(3	)%		532.3		526.0		448.9		504.5		468.7		1,422.1		1,527.3		(7	)%
Lead	Payable metal in concentrate	t		234		1,829		754		91		209		1,054		403		162	%		181		837		1,469		551		14		2,034		341		496	%
	Antamina	t		234		1,829		754		91		209		1,054		403		162	%		181		837		1,469		551		14		2,034		341		496	%
Zinc	Payable metal in concentrate	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18	%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28	%
	Antamina	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18	%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28	%
Gold	Payable metal in concentrate	troy oz		89,841		95,949		76,242		73,585		105,321		255,148		265,977		(4	)%		92,357		95,523		66,377		82,099		87,012		235,488		280,467		(16	)%
	Escondida	troy oz		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7	)%		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7	)%
	Pampa Norte (Spence)	troy oz		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9	)%		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9	)%
	Copper South Australia	troy oz		40,457		50,871		36,489		36,993		47,264		120,746		121,694		(1	)%		42,825		50,577		26,476		45,024		29,234		100,734		135,305		(26	)%
	Carajás	troy oz		1,516		1,825		1,816		1,941		1,784		5,541		5,481		1	%		1,664		1,693		1,964		2,424		1,505		5,893		6,360		(7	)%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18	%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18	%
	Copper South Australia	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18	%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18	%
	Total	troy oz		146,847		142,738		126,958		135,495		159,832		422,285		407,846		4	%		150,339		144,764		117,524		141,153		144,348		403,025		422,254		(5	)%
Silver	Payable metal in concentrate	troy koz		3,418		3,911		4,114		4,109		4,839		13,062		9,845		33	%		3,198		3,526		4,136		4,252		4,518		12,906		9,408		37	%
	Escondida	troy koz		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39	%		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39	%
	Pampa Norte (Spence)	troy koz		428		441		358		316		375		1,049		1,382		(24	)%		428		441		358		316		375		1,049		1,382		(24	)%
	Copper South Australia	troy koz		186		251		182		179		222		583		662		(12	)%		173		226		131		207		162		500		686		(27	)%
	Antamina	troy koz		1,017		1,313		1,632		1,438		1,462		4,532		2,849		59	%		810		953		1,705		1,553		1,201		4,459		2,388		87	%
	Refined silver	troy koz		462		216		227		284		308		819		801		2	%		486		213		255		250		340		845		798		6	%
	Copper South Australia	troy koz		462		216		227		284		308		819		801		2	%		486		213		255		250		340		845		798		6	%
	Total	troy koz		3,880		4,127		4,341		4,393		5,147		13,881		10,646		30	%		3,684		3,739		4,391		4,502		4,858		13,751		10,206		35	%
Uranium	Payable metal in concentrate	t		783		974		819		903		778		2,500		2,180		15	%		710		1,230		649		815		650		2,114		2,027		4	%
	Copper South Australia	t		783		974		819		903		778		2,500		2,180		15	%		710		1,230		649		815		650		2,114		2,027		4	%
Molybdenum	Payable metal in concentrate	t		801		337		341		281		341		963		2,636		(63	)%		839		714		347		322		263		932		2,573		(64	)%
	Pampa Norte (Spence)	t		187		189		257		269		194		720		505		43	%		223		190		208		256		205		669		542		23	%
	Antamina	t		614		148		84		12		147		243		2,131		(89	)%		616		524		139		66		58		263		2,031		(87	)%
Iron ore	Western Australia Iron Ore (WAIO)	kt		60,137		68,348		62,015		67,766		60,922		190,703		188,251		1	%		59,234		67,830		62,430		66,909		58,608		187,947		186,983		1	%
	Samarco	kt		1,603		1,951		2,066		1,938		1,882		5,886		4,303		37	%		1,416		1,973		2,042		2,512		1,590		6,144		3,875		59	%
	Total	kt		61,740		70,299		64,081		69,704		62,804		196,589		192,554		2	%		60,650		69,803		64,472		69,421		60,198		194,091		190,858		2	%
Steelmaking coal	BHP Mitsubishi Alliance (BMA)	kt		3,919		5,146		4,865		4,291		3,816		12,972		12,864		1	%		3,791		5,030		4,472		4,413		3,852		12,737		12,790		0	%
Energy coal	NSW Energy Coal (NSWEC)	kt		3,596		4,067		3,518		4,610		4,037		12,165		10,969		11	%		3,509		3,926		3,707		4,372		4,048		12,127		11,263		8	%
Nickel1	Western Australia Nickel	kt		2.3		0.3		-		-		-		-		29.9		(100	)%		2.2		0.2		-		-		-		-		33.3		(100	)%
Cobalt1	Western Australia Nickel	t		35		-		-		-		-		-		450		(100	)%		-		-		-		-		-		-		415		(100	)%

1 WA Nickel ramped down and entered temporary suspension in December 2024.

BHP | Operational review for the nine months ended 31 March 2026

			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun2025		Sep2025		Dec2025		Mar2026		Mar2026		Mar2025		Var%		Mar2025		Jun2025		Sep2025		Dec2025		Mar2026		Mar2026		Mar2025		Var%
Production and sales
By asset
Copper
Metals production is payable metal unless otherwise noted.
Escondida, Chile¹		BHP interest 57.5%
	Material mined	kt		117,038		122,386		114,527		112,808		114,506		341,841		333,537		2%
	Concentrator throughput	kt		32,889		36,490		36,721		35,628		34,225		106,574		100,670		6%
	Average copper grade - concentrator	%		1.09%		0.95%		0.94%		0.91%		0.88%		0.91%		1.05%		(13)%
	Production ex mill	kt		295.6		291.0		294.2		279.7		255.1		829.0		875.3		(5)%
	Payable copper	kt		288.4		278.6		282.4		270.5		248.3		801.2		848.6		(6)%		309.2		285.5		258.3		277.7		252.1		788.1		857.4		(8)%
	Copper cathode (EW)	kt		45.2		48.7		46.5		46.7		54.9		148.1		129.0		15%		47.4		52.7		38.1		50.0		50.1		138.2		128.2		8%
	Oxide leach	kt		14.3		16.3		16.8		11.1		19.9		47.8		34.3		39%
	Sulphide leach	kt		30.9		32.4		29.7		35.6		35.0		100.3		94.7		6%
	Total copper	kt		333.6		327.3		328.9		317.2		303.2		949.3		977.6		(3)%		356.6		338.2		296.4		327.7		302.2		926.3		985.6		(6)%
	Payable gold concentrate	troy oz		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7)%		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7)%
	Payable silver concentrate	troy koz		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39%		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39%
1 Presented on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte (Spence), Chile¹		BHP interest 100%
	Material mined	kt		21,848		25,944		24,695		22,895		21,690		69,280		70,346		(2)%
	Ore stacked	kt		5,584		5,413		5,652		5,354		4,435		15,441		16,486		(6)%
	Average copper grade - stacked	%		0.62%		0.67%		0.61%		0.58%		0.66%		0.61%		0.72%		(15)%
	Concentrator throughput	kt		7,754		7,792		7,778		8,002		7,329		23,109		23,023		0%
	Average copper grade - concentrator	%		0.63%		0.66%		0.65%		0.60%		0.53%		0.59%		0.63%		(6)%
	Payable copper	kt		36.1		42.2		35.4		33.3		25.7		94.4		108.4		(13)%		36.5		37.3		33.2		27.9		34.9		96.0		117.0		(18)%
	Copper cathode (EW)	kt		31.8		31.2		20.4		24.4		18.9		63.7		85.8		(26)%		30.7		34.1		17.9		25.4		17.4		60.7		84.8		(28)%
	Total copper	kt		67.9		73.4		55.8		57.7		44.6		158.1		194.2		(19)%		67.2		71.4		51.1		53.3		52.3		156.7		201.8		(22)%
	Payable gold concentrate	troy oz		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9)%		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9)%
	Payable silver concentrate	troy koz		428		441		358		316		375		1,049		1,382		(24)%		428		441		358		316		375		1,049		1,382		(24)%
	Payable molybdenum	t		187		189		257		269		194		720		505		43%		223		190		208		256		205		669		542		23%

1 Pampa Norte consists of Spence and Cerro Colorado. Cerro Colorado entered temporary care and maintenance in December 2023.

BHP | Operational review for the nine months ended 31 March 2026

			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar2025		Jun2025		Sep2025		Dec2025		Mar2026		Mar2026		Mar2025		Var%		Mar2025		Jun2025		Sep2025		Dec2025		Mar2026		Mar2026		Mar2025		Var %
Copper (continued)
Copper South Australia, Australia		BHP interest 100%
Copper	Payable metal in concentrate	kt		24.8		33.2		25.5		24.8		28.3		78.6		80.7		(3)%		23.8		30.9		15.9		24.8		18.0		58.7		80.1		(27)%
	Cathode	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4%
	Total copper	kt		81.4		93.6		78.2		77.7		83.6		239.5		234.3		2%		79.0		92.5		65.8		80.1		69.2		215.1		231.1		(7)%
	Payable metal in concentrate transfer to Olympic Dam	kt		(2.3)		(1.5)		(5.6)		(2.6)		(0.8)		(9.0)		(10.5)		(14)%
	Net copper	kt		79.1		92.1		72.6		75.1		82.8		230.5		223.8		3%
Gold	Payable metal in concentrate	troy oz		46,097		53,055		47,893		41,351		48,532		137,776		144,837		(5)%		42,825		50,577		26,476		45,024		29,234		100,734		135,305		(26)%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18%
	Total gold	troy oz		103,103		99,844		98,609		103,261		103,043		304,913		286,706		6%		100,807		99,818		77,623		104,078		86,570		268,271		277,092		(3)%
	Payable metal in concentrate transfer to Olympic Dam	troy oz		(5,640)		(2,184)		(11,404)		(4,358)		(1,268)		(17,030)		(23,143)		(26)%
	Net gold	troy oz		97,463		97,660		87,205		98,903		101,775		287,883		263,563		9%
Silver	Payable metal in concentrate	troy koz		198		258		213		193		226		632		716		(12)%		173		226		131		207		162		500		686		(27)%
	Refined silver	troy koz		462		216		227		284		308		819		801		2%		486		213		255		250		340		845		798		6%
	Total silver	troy koz		660		474		440		477		534		1,451		1,517		(4)%		659		439		386		457		502		1,345		1,484		(9)%
	Payable metal in concentrate transfer to Olympic Dam	troy koz		(12)		(7)		(31)		(14)		(4)		(49)		(54)		(9)%
	Net silver	troy koz		648		467		409		463		530		1,402		1,463		(4)%
Uranium		t		783		974		819		903		778		2,500		2,180		15%		710		1,230		649		815		650		2,114		2,027		4%
Olympic Dam
	Material mined	kt		2,498		2,587		2,818		2,763		2,732		8,313		7,150		16%
	Ore milled	kt		2,462		2,859		2,640		2,926		2,565		8,131		7,486		9%
	Average copper grade	%		1.99%		2.05%		1.97%		1.97%		1.92%		1.95%		2.02%		(3)%
	Average uranium grade	kg/t		0.56		0.56		0.55		0.56		0.57		0.56		0.58		(4)%
	Copper cathode (ER and EW)	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18%
	Refined silver	troy koz		462		216		227		284		308		819		801		2%		486		213		255		250		340		845		798		6%
	Payable uranium	t		783		974		819		903		778		2,500		2,180		15%		710		1,230		649		815		650		2,114		2,027		4%
Prominent Hill
	Material mined	kt		1,119		1,210		1,049		1,014		1,026		3,089		3,157		(2)%
	Ore milled	kt		1,364		1,998		1,621		1,376		1,494		4,491		4,684		(4)%
	Average copper grade	%		0.82%		0.92%		0.71%		0.83%		0.90%		0.81%		0.75%		8%
	Concentrate produced	kt		19.2		33.0		19.0		19.1		25.7		63.8		60.3		6%
	Payable copper	kt		9.7		16.2		9.9		9.7		11.8		31.4		30.1		4%		9.5		12.8		4.4		7.5		3.1		15.0		28.4		(47)%
	Payable gold concentrate	troy oz		24,309		28,593		24,105		17,406		23,664		65,175		70,730		(8)%		22,614		25,222		9,033		17,671		5,894		32,598		60,991		(47)%
	Payable silver concentrate	troy koz		63		98		61		49		60		170		196		(13)%		51		69		29		45		20		94		172		(45)%
Carrapateena
	Material mined	kt		1,202		1,583		1,488		1,479		1,632		4,599		4,148		11%
	Ore milled	kt		1,306		1,557		1,511		1,415		1,516		4,442		4,181		6%
	Average copper grade	%		1.31%		1.24%		1.18%		1.20%		1.22%		1.20%		1.38%		(13)%
	Concentrate produced	kt		50.6		58.7		52.4		53.4		61.4		167.2		167.4		0%
	Payable copper	kt		15.1		17.0		15.6		15.1		16.5		47.2		50.6		(7)%		14.3		18.1		11.5		17.3		14.9		43.7		51.7		(15)%
	Payable gold concentrate	troy oz		21,788		24,462		23,788		23,945		24,868		72,601		74,107		(2)%		20,211		25,355		17,443		27,353		23,340		68,136		74,314		(8)%
	Payable silver concentrate	troy koz		135		160		152		144		166		462		520		(11)%		122		157		102		162		142		406		514		(21)%

BHP | Operational review for the nine months ended 31 March 2026

			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Copper (continued)
Antamina, Peru		BHP interest 33.75%
	Material mined	kt		51,529		39,369		58,970		57,442		54,819		171,231		173,120		(1)%
	Concentrator throughput	kt		13,140		10,154		13,307		13,725		13,783		40,815		39,559		3%
	Average head grade - copper	%		0.81%		0.76%		0.86%		0.98%		1.12%		0.99%		0.83%		19%
	Average head grade - zinc	%		0.85%		1.70%		1.26%		1.01%		0.79%		1.02%		0.79%		29%
	Payable copper	kt		30.9		21.2		33.9		38.2		44.1		116.2		97.7		19%		27.4		21.8		33.1		40.4		43.3		116.8		100.3		16%
	Payable zinc	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28%
	Payable silver	troy koz		1,017		1,313		1,632		1,438		1,462		4,532		2,849		59%		810		953		1,705		1,553		1,201		4,459		2,388		87%
	Payable lead	t		234		1,829		754		91		209		1,054		403		162%		181		837		1,469		551		14		2,034		341		496%
	Payable molybdenum	t		614		148		84		12		147		243		2,131		(89)%		616		524		139		66		58		263		2,031		(87)%
Carajás, Brazil		BHP interest 100%
	Material mined	kt		140		148		134		147		148		429		472		(9)%
	Ore milled	kt		128		176		160		172		156		489		460		6%
	Average copper grade	%		1.64%		1.40%		1.63%		1.51%		1.48%		1.54%		1.73%		(11)%
	Production ex mill	kt		7.9		9.5		10.3		9.8		8.8		28.9		30.4		(5)%
	Average gold grade	g/t		0.50		0.43		0.46		0.47		0.47		0.47		0.50		(7)%
	Payable copper	kt		1.9		2.2		2.4		2.3		2.1		6.8		7.2		(6)%		2.1		2.1		2.5		3.0		1.7		7.2		8.5		(15)%
	Payable gold concentrate	troy oz		1,516		1,825		1,816		1,941		1,784		5,541		5,481		1%		1,664		1,693		1,964		2,424		1,505		5,893		6,360		(7)%
Iron ore
Iron ore production is reported on the basis of saleable product, which is wet metric tonnes (wmt) for WAIO and dry metric tonnes (dmt) for Samarco.
WAIO, Australia		BHP interest 85%
	Newman Joint Venture	kt		11,991		15,073		13,724		13,340		13,517		40,581		39,145		4%
	Area C Joint Venture	kt		27,869		32,824		29,415		32,265		33,584		95,264		86,286		10%
	Yandi Joint Venture	kt		3,819		3,854		3,498		2,899		2,941		9,338		12,036		(22)%
	Jimblebar¹	kt		16,458		16,597		15,378		19,262		10,880		45,520		50,784		(10)%
	Total	kt		60,137		68,348		62,015		67,766		60,922		190,703		188,251		1%
	Total (100%)	kt		67,844		77,480		70,246		76,326		69,752		216,324		212,508		2%
	Lump	kt																		18,822		21,285		20,250		20,595		19,878		60,723		58,518		4%
	Fines	kt																		40,412		46,545		42,180		46,314		38,730		127,224		128,465		(1)%
	Total	kt																		59,234		67,830		62,430		66,909		58,608		187,947		186,983		1%
	Total (100%)	kt																		66,765		76,723		70,592		75,397		67,001		212,990		210,902		1%
1 Presented on a 100% basis. BHP interest in saleable production is 85%.
Samarco, Brazil		BHP interest 50%
	Total	kt		1,603		1,951		2,066		1,938		1,882		5,886		4,303		37%		1,416		1,973		2,042		2,512		1,590		6,144		3,875		59%

BHP | Operational review for the nine months ended 31 March 2026

			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Coal
Coal production is reported on the basis of saleable product.
BMA, Australia		BHP interest 50%
	Goonyella	kt		1,228		1,811		1,880		1,254		1,124		4,258		4,026		6%
	Peak Downs	kt		1,098		1,154		1,111		967		1,176		3,254		3,420		(5)%
	Saraji	kt		883		1,079		884		1,146		849		2,879		2,994		(4)%
	Caval Ridge	kt		710		1,102		990		924		667		2,581		2,424		6%
	Total1	kt		3,919		5,146		4,865		4,291		3,816		12,972		12,864		1%
	Total (100%)1	kt		7,838		10,292		9,730		8,582		7,632		25,944		25,728		1%
	Hard coking coal	kt																		3,708		4,831		4,428		4,302		3,842		12,572		12,676		(1)%
	Energy coal	kt																		83		199		44		111		10		165		114		45%
	Total	kt																		3,791		5,030		4,472		4,413		3,852		12,737		12,790		0%
	Total (100%)	kt																		7,582		10,060		8,944		8,826		7,704		25,474		25,580		0%
1 Production figures include some energy coal.
NSWEC, Australia		BHP interest 100%
	Energy coal - Export	kt																		3,128		3,554		3,549		4,190		3,935		11,674		10,015		17%
	Energy coal - Domestic	kt																		381		372		158		182		113		453		1,248		(64)%
	Total	kt		3,596		4,067		3,518		4,610		4,037		12,165		10,969		11%		3,509		3,926		3,707		4,372		4,048		12,127		11,263		8%
Other
Nickel production is reported on the basis of saleable product.
Western Australia Nickel, Australia¹		BHP interest 100%
Mt Keith	Nickel concentrate	kt		-		-		-		-		-		-		41.3		(100)%
	Average nickel grade	%		-		-		-		-		-		-		17.0		(100)%
Leinster	Nickel concentrate	kt		-		-		-		-		-		-		72.4		(100)%
	Average nickel grade	%		-		-		-		-		-		-		8.8		(100)%
	Refined nickel	kt		-		-		-		-		-		-		12.2		(100)%		-		-		-		-		-		-		14.3		(100)%
	Nickel sulphate	kt		-		-		-		-		-		-		0.3		(100)%		0.1		0.1		-		-		-		-		1.0		(100)%
	Intermediates and nickel by-products	kt		2.3		0.3		-		-		-		-		17.4		(100)%		2.1		0.1		-		-		-		-		18.0		(100)%
	Total nickel	kt		2.3		0.3		-		-		-		-		29.9		(100)%		2.2		0.2		-		-		-		-		33.3		(100)%
	Cobalt by-products	t		35		-		-		-		-		-		450		(100)%		-		-		-		-		-		-		415		(100)%

1 WA Nickel ramped down and entered temporary suspension in December 2024.

BHP | Operational review for the nine months ended 31 March 2026

Variance analysis relates to the relative performance of BHP and/or its operations during the nine months ended 31 March 2026 compared with the nine months ended 31 March 2025, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100% basis; production and sales volumes from equity accounted investments and other operations are reported on a proportionate consolidation basis. Numbers presented may not add up precisely to the totals provided due to rounding. FY26 and medium-term unit cost guidance ranges are based on exchange rates of AUD/USD 0.65 and USD/CLP 940, and for Copper SA by-product prices of US$2,900/oz for gold, and US$70/lb for uranium. Medium term refers to a five-year horizon, unless otherwise noted.

The following abbreviations may have been used throughout this release: billion tonnes (Bt); cost and freight (CFR); cost, insurance and freight (CIF), carbon dioxide equivalent (CO2-e), Direct Reduced Iron (DRI), dry metric tonnes (dmt); free on board (FOB); giga litres (GL); greenhouse gas (GHG); grams per cubic centimetre (g/cm3), grams per tonne (g/t); high-potential injury (HPI); joint venture (JV); kilograms per tonne (kg/t); kilometre (km); million ounces per annum (Mozpa); metres (m), million pounds (Mlb); million tonnes (Mt); million tonnes per annum (Mtpa); percentage point (ppt); ounces (oz); part per million (ppm), pounds (lb); thousand ounces (koz); thousand ounces per annum (kozpa); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); total recordable injury frequency (TRIF); wet metric tonnes (wmt); and year to date (YTD).

In this release, the terms ‘BHP’, the ‘Group’, ‘BHP Group’, ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used to refer to BHP Group Limited and, except where the context otherwise requires, our subsidiaries. Refer to Note 28—Subsidiaries of the Financial Statements in BHP’s 2025 Annual Report for a list of our significant subsidiaries. Those terms do not include non-operated assets. Notwithstanding that this release may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. Our non-operated assets include Antamina, Resolution, Samarco and Vicuña. BHP Group cautions against undue reliance on any forward-looking statement or guidance in this release. These forward-looking statements are based on information available as at the date of this release and 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 release.

Further information on BHP can be found at bhp.com

Authorised for lodgement by:

Stefanie Wilkinson

Group Company Secretary

Media Relations		Investor Relations
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Latin America
Renata Fernandez
Mobile: +56 9 8229 5357
BHP Group Limited ABN 49 004 028 077
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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		BHP Group Limited
Date: April 22, 2026	By:	/s/ Stefanie Wilkinson
Date: 12 May 2026	By:	/s/ Stefanie Wilkinson
	Name:	Stefanie Wilkinson
	Title:	Group General Counsel and Group Company Secretary

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