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Annual General Meeting

Originally issued by BHP Steel. On 17 November 2003 BHP Steel became BlueScope Steel Limited.

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The meeting will commence in:The meeting will commence in:

5 minutes

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4 minutes

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3 minutes

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2 minutes

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1 minute

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Annual General Meeting

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Annual General MeetingKirby AdamsManaging Director & CEONovember 2002


BHP Steel Limited – “You have made the right choice”BHP Steel Limited – “You have made the right choice”

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15-Jul 29-Jul 12-Aug 26-Aug 9-Sep 23-Sep 7-Oct 21-Oct 4-Nov

BHP STEEL

ASX 100

ASIAN IRON / STEEL INDEX

Our Bond – BHP Steel’s ‘Charter’Our Bond – BHP Steel’s ‘Charter’

We and our customers proudly bring inspiration, strength and colour to communities with BHP Steel. Our customers are our partners.Our success depends on our customers and suppliers choosing us. Our strength lies in working closely with them to create value and trust, together with superior products, service and ideas.Our people are our strength.Our success comes from our people. We work in a safe and satisfying environment. We choose to treat each other with trust and respect and maintain a healthy balance between work and family life. Our experience, teamwork and ability to deliver steel inspired solutions are our most valued and rewarded strengths.Our shareholders are our foundations.Our success is made possible by the shareholders and lenders who choose to invest in us. In return, we commit to continuing profitability and growth in value, which together, make us all stronger.Our communities are our homes.Our success relies on communities supporting our business and products. In turn, we care for the environment, create wealth, respect local values and encourage involvement. Our strength is in choosing to do what is right.

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Flat Steel Products

Value Added Branded ProductsValue Added Branded Products

Tinplate ProductsTinplate Products

Australian Automotive MarketsAustralian Automotive Markets

Ultra Light Steel Auto Body (ULSAB)Ultra Light Steel Auto Body (ULSAB)

all around us … every day

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Dongkuk Two Millionth TonneDongkuk Two Millionth Tonne

Steelscape One Millionth TonneSteelscape One Millionth Tonne

Technology – Castrip Development PlantTechnology – Castrip Development Plant

Strong Brands in Domestic MarketsStrong Brands in Domestic Markets

A different kind of steel companyA different kind of steel company

Growth Opportunities

in Asia

Growth Opportunities

in Asia

Recovering Global Steel

Market

Recovering Global Steel

Market

Value Added Branded Products

Value Added Branded Products

Low Cost

Producer

Low Cost

Producer

Strong and Flexible Capital

Structure

Strong and Flexible Capital

Structure

Consistently Strong Cash

Flows

Consistently Strong Cash

Flows

PrPr

Consistently Strong Cash Flows

Consistently Strong Cash Flows

Strong and Flexible Capital Structure

Strong and Flexible Capital Structure

Strong Operating Track Strong Operating Track

Low Cost

Producer

Low Cost

Producer

Strong Operating Track

Record

Strong Operating Track

Record

Profitable Through the

Cycle

ofitable Through the Profitable Through the

Cycle

Geographicand Product

Diversity

Geographicand Product

Diversity

Strong Board & Management

Team

Strong Board & Management

Team

Cycleofitable Through the

Cycle RecordRecord

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BHP Steel – Lost Time Injury Frequency RateBHP Steel – Lost Time Injury Frequency Rate

2.73.53.83.43.9

11.2

16

29

35

7.1

0

10

20

30

40

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

Lost time injuries per one million hours worked

- the goal is Zero Harm

Productivity Improvement – Port Kembla SteelworksProductivity Improvement – Port Kembla Steelworks

0

2,000

4,000

6,000

8,000

10,000

1999 2000 2001 2002A0

400

800

1,200Tonnes / Employee / Year

Tonnes / Employee / Year

1,200

800

400

0

Jacobsen Customer Satisfaction Survey – North AmericaJacobsen Customer Satisfaction Survey – North America

North Star BHP Steel

* Overall Customer Satisfaction √ #1

* Quality √ #1

* Service √ #1

* On-time Delivery √ #1

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Low Cost Producer of Hot Rolled CoilLow Cost Producer of Hot Rolled Coil

Source: Economic Associates Inc.

$A/to

nne

Conventional Production Compact Strip Production USA Integrateds USA Mini Mills

BHP SteelPort Kembla

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BHP Steel China LocationsBHP Steel China Locations

GuangzhouChengdu

Beijing

Shanghai

Langfang

Unique Production and Marketing FootprintUnique Production and Marketing Footprint

BHP Steel Thailand

BHP Steel Lysaght rollformingLocations through Australia, Asia and the Pacific Islands 40BHP Steel Malaysia

BHP Steel Indonesia

Unparalleled regional coverage through the coated products value chainUnparalleled regional coverage through the coated products valueUnparalleled regional coverage through the coated products value chainchain

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Our PeopleOur People

BHP Steel … You have made the right choiceBHP Steel … You have made the right choice

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Annual General MeetingOfficial Business

Appointment of New Directors

Mr Graham Kraehe retires in accordance with the Company’s Constitution, and being eligible, offers himself for re-election.

GRAHAM KRAEHEChairman

Non-Executive Director

Ms Diane Grady retires in accordance with the Company’s Constitution, and being eligible, offers herself for re-election.

DIANE GRADY

Resolution 3Resolution 3

To approve the appointment ofErnst & Young

as Auditor of the Company

The appointment of Ernst & Young requires approval of shareholders under the Corporations Act.

Voting PaperVoting Paper

VOTING PAPERResolution 2aTo reelect Mr G J Kraehe as aDirector of the Company

Resolution 2bTo re-elect Me D J Grady as aDirector of the Company

Resolution 3To approve the appointment ofErnst & Young as Auditor of the Company

SHAREHOLDERSIf you wish to cast all your votes either 'for or 'against' the motion, place a mark in eitherthe FOR box or the AGAINST box.

If you wish to cast some of your votes 'for' the motion and some of your votes 'against' the motion write in the FOR box the actual number or percentage of votes you are casting 'for the motion and write in the AGAINST box the actual number or percentage of votes you are casting 'against' the motion.

The sum of the votes cast FOR and AGAINST the motion must not exceed your voting entitlement or 100%.

PROXYHOLDERSAt registration, if you are a proxyholder, you were issued with a Summary of Proxy Votes which details the voting instructions (if any) for business items on the appointment documents in your favour. By completing this voting paper, when instructed to vote in a particular manner, you are deemed to have voted in accordance with those instructions.

In respect of 'open' (or discretionary) votes, or on a procedural motion, you should complete the FOR and/or AGAINST boxes in accordance with the 'Shareholders' paragraph above.

Note: If the donor of a proxy personally attends the meeting and votes, your voting entitlement will be appropriately reduced.

Print your name:

Please sign here:

FOR AGAINST

Resolution 3Resolution 3

That the following resolution be passed as an ordinary resolution:

To approve the appointment of Ernst & Young as Auditor of the Company

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Spare slides…

2002 Group Sales by Market (tonnes)2002 Group Sales by Market (tonnes)

US (NS BHP)14%

Europe Africa

Americas

Asia

AustraliaTotal Export 41%

38%

New ZealandAsia4%3%

Total Sales: 6.3m tonnes

Multiple Channels to Market in AustraliaMultiple Channels to Market in Australia

Flat Products2.9mt Long Products

LysaghtDistributors

RollformersPipe & Tube Converters

Flat Products2.9mt

BHP Steel80%

SmorgonSteel

ImportsImports20% OneSteel

Customer Direct &

Service Centres

CustomerDirect

Construction Automotive Packaging ManufacturingRural Mining Oil & Gas

Partner logoPartner logo

Global economic growth: implications for the steel industryGlobal economic growth: implications for the steel industry

OECD Leading Indicator & Steel Production

-8

-6

-4

-2

0

2

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12

Jun-97 Jun-98 Jun-99 Jun-00 Jun-01 Jun-02

% C

hang

e yo

y

OECD Leading Indicator

OECD Industrial Production

Global Crude Steel Production----- Excluding China

Recovering Global Steel MarketRecovering Global Steel Market

• Global steel prices were at historic lows and have recovered rapidly

European Export Hot Rolled Coil FOB Price

HRC Price Trend (Real US$/t FOB)

0

100

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500

600

700

800

Jan-

80

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81

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Jan-

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Jan-

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Pric

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001

US$

/t FO

B)

Steel is a challenging industrySteel is a challenging industry

Lower Returns Than Comparable Industries…

TSR 1989-00(% pa)

-20

-15

-10

-5

0

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10

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Petroleum Refining

BaseChemicals

Pulp AndPaper

Non-ferrousMetals

Steel

Median

Top quartileWeighted average

Bottom quartile

Source: Datastream

Thin Strip Casting – the ProcessThin Strip Casting – the Process

• Small scale strip production (300 – 500kt/a)

• Low capital cost

• Exciting new properties

• Lower energy consumption and greenhouse gas generation

Castrip teamCastrip team

Steel plate is used in shipbuildingSteel plate is used in shipbuilding

BHP Steel (Thailand)BHP Steel (Thailand)

Keeping customers supplied from Western PortKeeping customers supplied from Western Port

World steel consumption table (IISI) Mar 2002World steel consumption table (IISI) Mar 2002

3.52.01.08.3811784768760TOTALWORLD

3.10.6(3.4)8.3621602598619WORLD ex China

%In million metric tonnes of finished steel

4.57.020.38.0190182170141China

20032002200120002003200220012000REGION

Originally issued by BHP Steel. On 17 November 2003 BHP Steel became BlueScope Steel Limited.

annual general meeting - amazon s3...dongkuk two millionth tonne page 21 steelscape one millionth...

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