• BHP forecast FY26 group copper output in upper half of 1,900-2,000 kt range, supported by Escondida tracking upper half of 1,200-1,275 kt range.
• Spence copper guidance lowered to 210-220 kt from 230-250 kt due to variable ore characteristics.
• Antamina copper guidance lifted to 150-160 kt from 140-150 kt on higher planned grades.
• FY26 iron ore production outlook unchanged at 258-269 Mt, with WAIO guidance held at 251-262 Mt.
• Escondida FY26 unit cost guidance cut to US$ 1-1.2/lb from US$ 1.2-1.5/lb on stronger performance, higher by-product credits.

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