Mozal Aluminium Placed on Care & Maintenance

Summary by AI ^BETAClose X

South32 Limited has placed its Mozal Aluminium smelter in Mozambique on care and maintenance as of March 15, 2026, due to an inability to secure sufficient and affordable power supply. This decision follows extensive engagement with stakeholders over six years. The company anticipates one-off costs of approximately US$60 million for the shutdown, including employee separation and contract terminations, with ongoing annual care and maintenance costs estimated at US$5 million. Alumina previously supplied to Mozal will now be sold to third-party customers at index-linked prices.

Disclaimer*

South32 Limited

16 March 2026

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

MOZAL ALUMINIUM PLACED ON CARE AND MAINTENANCE

South32 Limited (ASX / LSE / JSE: S32; ADR: SOUHY) (South32) confirms Mozal Aluminium (Mozal) was placed on care and maintenance on 15 March 2026.

South32 Chief Executive Officer, Graham Kerr, said: "Over the past six years we have engaged extensively with the Government of the Republic of Mozambique, Eskom and other key stakeholders but were unable to secure sufficient and affordable power supply for Mozal beyond March 2026.

"While this is not the outcome we wanted, we are proud of the history and significant contribution Mozal has made to the local community and the Mozambican economy in its 25 years of operation."

As previously announced, one-off costs to place Mozal into care and maintenance, including employee separation costs and termination of contracting arrangements, are approximately US$60M (100% basis). Ongoing annual care and maintenance costs are approximately US$5M (100% basis).

The alumina supplied from our Worsley Alumina refinery to Mozal will now be sold to third party customers at index-linked prices.

About Mozal Aluminium

Mozal Aluminium is located near Maputo, Mozambique. The smelter, now in care and maintenance, produced high-quality, primary aluminium for domestic and export markets. South32 holds 63.7% of Mozal, the Industrial Development Corporation of South Africa Limited holds 32.4%, and the Government of the Republic of Mozambique holds 3.9%.

About us

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 produce minerals and metals critical to the world's energy transition from operations across the Americas, Australia and Southern Africa and we are discovering and responsibly developing our next generation of mines. We aspire to leave a positive legacy and build meaningful relationships with our partners and communities to create brighter futures together.

Investor Relations	Media Relations
Ben Baker T +61 8 9324 9363 M +61 403 763 086 E Ben.Baker@south32.net	Jamie Macdonald T +61 8 9324 9000 M +61 408 925 140 E Jamie.Macdonald@south32.net

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

Approved for release to the market by Graham Kerr, Chief Executive Officer
JSE Sponsor: The Standard Bank of South Africa Limited
16 March 2026

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END