Business Context and Reporting Period
This Form 6-K filing serves as the Notice of Meeting for BHP Group Limited's 2026 Annual General Meeting (AGM), scheduled for October 22, 2026. The document summarizes the company's performance for the financial year ended June 30, 2026 (FY2026). BHP reported strong operational and financial results, highlighted by record iron ore production and copper contributing more than half of Underlying EBITDA for the first time. The period also marked a significant leadership transition with the retirement of CEO Mike Henry and the appointment of Brandon Craig as CEO on July 1, 2026.
Key Financial Metrics
- Attributable Profit: US$9.8 billion (FY2025: US$9.0 billion).
- Underlying Earnings Per Share: 260.0 US cents (FY2025: 200.2 US cents).
- Dividend Per Share: 172 US cents (FY2025: 110 US cents).
- Total Distribution to Shareholders: US$8.7 billion, representing 66% of underlying attributable profit.
- Total Economic Contribution: US$50.8 billion, including US$12.4 billion in payments to governments.
- Operational Highlights: Produced approximately 2 million tonnes of copper for the second consecutive year; Western Australia Iron Ore (WAIO) remained the lowest-cost major iron ore producer globally for the seventh consecutive year.
Material Changes and Operational Performance
Compared to the prior period, BHP achieved a 33% reduction in operational greenhouse gas emissions against the FY2020 baseline. Iron ore production increased by approximately 10% over the past two years due to improved operational performance at BHP Mitsubishi Alliance (BMA). The Jansen Stage 1 potash project is 84% complete, with first production on track for mid-2027. Safety performance saw a tragic incident in July 2026 involving the fatal injury of a contractor colleague at the Peak Downs mine, though the company reported zero fatalities for employees in FY2026.
Guidance, Outlook, and Governance Matters
Management expresses confidence in the demand for core commodities and the strength of the growth program, supported by long-term trends such as the energy transition and urbanization. The Capital Allocation Framework maintains a minimum dividend payout ratio of 50% of underlying attributable profit.
Governance and AGM Items:
- Board Elections: The Board recommends voting in favor of the election of Brandon Craig and Mark Vassella, and the re-election of other directors.
- External Candidate: The Board recommends voting against Item 12, the election of external candidate Stephen Mayne, citing a lack of necessary skills and experience to add value to the Board.
- Executive Remuneration: Shareholder approval is sought for equity grants to CEO Brandon Craig under the Cash and Deferred Plan (CDP) and Long Term Incentive Plan (LTIP), with a total face value of approximately US$5.54 million.
- Leaving Entitlements: Approval is sought to renew the Board's ability to provide leaving entitlements to Key Management Personnel (KMP) and Subsidiary Directors for a three-year period.
Investor Verification Checklist
- Verify the full FY2026 Annual Report for detailed segmental financial data and non-IFRS reconciliations.
- Review the specific terms of the CEO equity grants (Item 14) and the performance conditions for the LTIP vesting.
- Confirm the Board's rationale for rejecting the external director candidate (Item 12) in the Explanatory Notes.
- Check the Safety Report for details on the July 2026 fatality and subsequent safety initiatives.
- Monitor the progress of the Jansen potash project toward the mid-2027 first production target.