BHP : Billiton Finance Limited 2022

BHP Billiton Finance Limited

ABN 82 008 519 319

General Purpose Financial Report for the year ended 30 June 2022

BHP Billiton Finance Limited

General Purpose Financial Report

30 June 2022

	Page
Contents
Directors' Report	3
Auditor's Independence Declaration to the Directors of BHP Billiton Finance Limited	6
Statement of Profit or Loss	7
Statement of Other Comprehensive Income	8
Statement of Financial Position	9
Statement of Cash Flows	10
Statement of Changes in Equity	11
Notes to Financial Statements	12
Directors' Declaration	38
Independent Auditors' Report	39

BHP Billiton Finance Limited

Directors' Report

30 June 2022

Directors' report

The directors present their report on BHP Billiton Finance Limited (the Company) for the year ended 30 June 2022 and the auditor's report thereon.

Directors

The following persons were directors of the Company at any time during or since the end of the financial year until the date of this report:

Roderick John Douglas Mainland

Bradford Paul Aldred Smith

Vasundhara Vasundhara

Scott Michael Lester (Appointed on 13 April 2022)

Carolyn Louise Pedic (Appointed on 13 April 2022)

Graham Clifford Tiver (Resigned on 15 December 2021)

James Joseph Sharp (Resigned on 26 January 2022)

Company Secretary

Angeli Gayfer

Principal activities

During the year the principal activities of the Company were to issue non-USD denominated bonds including Euro, Sterling and Canadian Bonds, as well as provide finance to related corporations. There have been no significant changes in the nature of the activities of the Company.

BHP Billiton Finance Limited is a Company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Level 15

171 Collins Street

Melbourne VIC 3000

Australia

On 31 January 2022, BHP Group unified its corporate structure under its existing Australian parent company, BHP Group Limited. BHP Group Limited is the ultimate parent entity of BHP Billiton Finance Limited.

The 'Group' here and further in the financial statements refers to BHP Group Limited and its consolidated entities.

Dividends

No dividends were paid, declared or recommended during the financial year ended 30 June 2022 (2021: US$nil).

As at the date of this report and since year end, the directors have not declared, determined or publicly recommended the payment of any dividends.

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BHP Billiton Finance Limited

Directors' Report

30 June 2022

Directors' report (continued)

Review of operations

The net loss after tax for the financial year ended 30 June 2022 is US$149,170 thousand (2021: net loss of US$38,756 thousand).

The increase in net loss by US$110,414 thousand mainly driven by lower operating income offset by lower net finance cost during the financial year. Decrease in operating income is relating to expected credit recovered from related party receivable taken place in prior year.

Significant changes in the state of affairs

There were no significant changes in the state of affairs of the Company during the year ended 30 June 2022.

Matters subsequent to the end of the financial year and likely developments

On 28 September 2022, the Group announced that in accordance with its group strategy and strong liquidity position, it will exercise its contractual option to redeem and cancel the £600,000,000 6.25 per cent subordinated fixed rate reset notes (the 'Notes'). The notes were issued by the Company and due in 2077. The notes had a carrying amount of US$723,349 thousand and classified as a current interest- bearing liability as at 30 June 2022.

Insurance of officers

During the financial year, the Company has insured against amounts that it may be liable to pay directors, secretaries or certain employees if applicable.

The insurance policy insures directors, secretaries and employees of the Company (if applicable) against certain liabilities (including legal costs) they may incur in carrying out their duties for the Company.

The premium is borne by the ultimate parent entity, BHP Group Limited, and is not allocated directly to the Company.

Directors' remuneration

The directors of the Company do not receive compensation in direct exchange for services rendered to the Company.

Each person who held the office of director at the date the directors resolved to approve this directors' report makes the following statement:

• So far as the director is aware, there is no relevant audit information of which the external auditors are unaware;
• The director has taken all steps that he or she ought to have taken as a director to make him or herself aware of any relevant audit information and to establish that the external auditors are aware of that information.

Rounding of amounts

The Company is a kind referred to in ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2016/191 and in accordance with that Instrument, amounts in the financial statements and directors' report have been rounded off to the nearest thousand dollars, unless otherwise stated.

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BHP Billiton Finance Limited

Directors' Report

30 June 2022

Directors' report (continued)

Auditor's independence declaration

A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 6 and forms part of the directors' report for the year ended 30 June 2022.

Going concern

The financial statements have been prepared on the going concern basis. The Company has current assets in excess of current liabilities of US$980,679 thousand (2021: net current liabilities of US$7,203,341 thousand) and net assets of US$118,516 thousand (2021: US$276,926 thousand) at 30 June 2022.

This report is made in accordance with a resolution of directors pursuant to section 298 (2) of the Corporations Act 2001.

Bradford Paul Aldred Smith

Director

Dated at Melbourne this 18 day of October 2022

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