FINANCIAL SNAPSHOT

Financial overview Sales revenue up 15% to $7,133 million Underlying EBIT up 3% to $428 million Statutory net profit after tax down 11% to $230 million Underlying net profit after tax down 2% to $235 million Strong underlying operating cash flow of $477 million Statutory net debt increased to $1,728 million following acquisition of the Moly-Cop Group Statutory gearing ratio increased 10 points to 27.7% following acquisition of the Moly-Cop Group Total dividend for the year 10 cents (unfranked), down from 11 cents in the prior year. Operational overview Overall performance impacted by difficult external environment and ongoing effects of GFC Resources focused businesses performed well Iron Ore EBIT up 57% to $524 million Achieved Iron Ore sales volume of 6 million tonnes Confident that there will be sufficient reserves and beneficiated ore to support sales at 6 million tonnes per annum for at least 10 years 1 Mining Consumables EBIT $65 million - New Moly-Cop Group businesses included from 1 January 2011 Recycling EBIT $21 million, significant improvement from $8 million in prior year Australian steel businesses impacted by adverse external environment Manufacturing underlying EBIT loss $185 million Australian Distribution underlying EBIT $10 million Raw steel production increased to 2.31 million tonnes due to the contribution from AltaSteel Significant leverage to economic recovery. 1 Iron ore sales expected to increase to approximately 9-10 million tonnes per annum following announced port expansion at Whyalla and agreement to acquire WPG Resources' iron ore assets Key Financials FY11 underlying results are before the impact of restructuring costs, including impairment of plant and equipment, tax benefits relating to prior years and direct costs arising from the acquisition of the Moly-Cop Group, which had a net impact of $5.1 million after tax. These statistics include the results of the Moly-Cop Group from 31 December 2010. FY10 underlying results are before the impact of legal claims, accelerated depreciation, restructuring activities, tax consolidation and tax benefits relating to prior years of $17.8 million after tax. Includes the impact of cross-currency swaps hedging foreign currency denominated debt.

Calendar Of Significant Events - 2011 Financial Year