BHP Group (BHP) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed shareholders, acknowledged traditional landowners, and highlighted the significance of returning to Brisbane for the AGM after several years.

• Introduced board members, executive team, and external auditors; confirmed quorum and opened the poll for voting.

• Outlined meeting procedures, including voting and Q&A protocols.

Financial performance review

• Underlying EBITDA for FY2024 was $29 billion, with strong margins and consistent cash flow; eighth consecutive year with margins above 50%.

• Total global economic contribution reached $49.2 billion, including $25.3 billion to suppliers, $11.2 billion in government payments, and $4.8 billion in employee compensation.

• Dividends totaling $7.4 billion were paid, with a five-year total shareholder return of ~15% per annum and over $50 billion in dividends distributed.

Board and executive committee updates

• Two directors, Ross McEwan and Don Lindsay, joined the board and stood for election; Ian Cockerill and Terry Bowen retired.

• Board emphasized commitment to safety, diversity, and inclusion, referencing the tragic loss of a contractor and ongoing efforts to eliminate workplace harassment.