Filed by Woodside Energy Group Limited

Pursuant to Rule 425 of the Securities Act of 1933

Subject Company: BHP Group Ltd (Commission File No.: 001-09526)


LOGO

Woodside Petroleum Ltd.

ACN 004 898 962

Mia Yellagonga

11 Mount Street

Perth WA 6000

Australia

T +61 8 9348 4000

www.woodside.com.au

ASX: WPL

OTC: WOPEY

Announcement

Thursday, 19 May 2022

WOODSIDE SHAREHOLDERS APPROVE MERGER

Woodside shareholders voted to approve the proposed merger (the Merger) with the petroleum business of BHP Group Limited at today’s Annual General Meeting. 98.66% of the votes submitted were in favour of the Merger.

All conditions precedent necessary to implement the Merger that require a positive action or event in order to be satisfied have now been satisfied or waived.1

Woodside expects completion of the Merger to occur on 1 June 2022. The new Woodside shares to be issued to or for the benefit of BHP shareholders are expected to commence trading on the Australian Securities Exchange (ASX) on 2 June 2022.

Trading of Woodside American Depositary Shares on the New York Stock Exchange is expected to commence on 2 June 2022. Trading of Woodside shares on the Main Market for listed securities of the London Stock Exchange is expected to commence on 6 June 2022.

Resolutions 2, 3(a), 3(b), 3(c), 3(d), 4, 5, 6, 7, 8 and 9 put to the meeting were carried. Resolution 10(a) was not carried and accordingly resolutions 10(b), 10(c) and 10(d) were not put to the meeting as they were conditional on resolution 10(a) being passed. Following is information on the voting outcome in respect of each resolution put to the meeting:

 

Item 2

  

Approval of the BHP Petroleum Merger

  

For

     550,920,381        98.66
  

Against

     7,490,163        1.34
  

Abstain

     1,449,841     

Item 3(a)

  

Re-election of Dr Sarah Ryan as a Director

  

For

     543,719,203        97.48
  

Against

     14,042,476        2.52
  

Abstain

     2,036,892     

Item 3(b)

  

Re-election of Ms Ann Pickard as a Director

  

For

     547,005,682        98.08
  

Against

     10,710,649        1.92
     

Abstain

     2,084,240     

 

1 

The Merger remains subject to certain conditions precedent that, in the absence of an unforeseen event, will be deemed to be satisfied on or before 31 May 2022.

 

Page 1 of 5


Item 3(c)

  

Re-election of Mr Frank Cooper as a Director

  

For

     541,104,917        97.03
  

Against

     16,568,702        2.97
  

Abstain

     2,124,285     

Item 3(d)

  

Re-election of Mr Ben Wyatt as a Director

  

For

     555,927,864        99.74
  

Against

     1,465,392        0.26
  

Abstain

     2,429,871     

Item 4

  

Adoption of Remuneration Report

  

For

     531,075,843        95.39
  

Against

     25,680,559        4.61
  

Abstain

     2,645,842     

Item 5

  

Approval of Grant of Executive Incentive Scheme Awards to CEO & Managing Director

  

For

     537,738,502        96.60
  

Against

     18,915,756        3.40
  

Abstain

     3,030,518     

Item 6

  

Reinsertion of proportional takeover provisions

  

For

     552,687,022        99.18
  

Against

     4,588,315        0.82
  

Abstain

     2,513,648     

Item 7

  

Change of Company Name

  

For

     555,452,971        99.64
  

Against

     2,015,042        0.36
  

Abstain

     2,343,108     

Item 8

  

Change of External Auditor

  

For

     555,444,883        99.69
  

Against

     1,713,289        0.31
  

Abstain

     2,657,703     

Item 9

  

Adoption of Climate Report

  

For

     281,694,608        51.03
  

Against

     270,274,921        48.97
  

Abstain

     7,819,775     

Item 10(a)

  

Amendment to the Constitution requisitioned by a group of shareholders

  

For

     34,563,853        6.43
  

Against

     503,187,977        93.57
  

Abstain

     21,465,564     

Further information, as required by section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2, is attached.

 

 

 

Contacts:

 

    

INVESTORS

 

Damien Gare

W: +61 8 9348 4421

M: +61 417 111 697

E: investor@woodside.com.au

  

MEDIA

 

Christine Forster

M: +61 484 112 469

E: christine.forster@woodside.com.au

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

 

Page 2 of 5


Important additional information in respect of US securities law

No offer of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.

In connection with the proposed Merger, Woodside has filed the Registration Statement (File No. 333-264268) with the SEC to register the Woodside securities to be issued in connection with the proposed Merger (including a prospectus), which the SEC has declared effective. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger. This communication is not a substitute for the Registration Statement or the prospectus or for any other document that Woodside or BHP may file with the SEC in connection with the Transaction. US INVESTORS AND US HOLDERS OF WOODSIDE AND BHP SECURITIES ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS AND OTHER DOCUMENTS RELATING TO THE PROPOSED MERGER (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS) THAT HAVE BEEN OR WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT WOODSIDE, BHP AND THE PROPOSED MERGER. Shareholders will be able to obtain free copies of the Registration Statement, prospectus and other documents containing important information about Woodside and BHP once those documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents may also be obtained from Woodside and BHP without charge.

 

Page 3 of 5


WOODSIDE PETROLEUM LTD 2022 ANNUAL GENERAL MEETING – VOTING RESULTS

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2.

 

Resolution details

     Instructions given to validly appointed proxies
(as at proxy close)
     Direct votes
(as at close of direct voting)
     Number of votes cast on the poll
(where applicable)
     Resolution
result
 

Resolution

   Resolution
type
     For      Against      At the
proxy’s
discretion
     Abstain      For      Against      Abstain      For   Against   Abstain*      Carried /
Not carried
 

2 Approval of the BHP Petroleum Merger

     Ordinary        472,168,743        6,879,915        5,310,114        1,318,217        23,098,932        597,610        129,760      550,920,381

98.66%

  7,490,163

1.34%

    1,449,841        Carried  

3(a) Re-election of Dr Sarah Ryan as a Director

     Ordinary        465,702,051        13,049,174        5,432,674        1,353,398        22,260,806        978,915        668,370      543,719,203

97.48%

  14,042,476

2.52%

    2,036,892        Carried  

3(b) Re-election of Ms Ann Pickard as a Director

     Ordinary        470,369,404        8,381,368        5,428,417        1,358,108        22,294,567        905,921        709,603      547,005,682

98.08%

  10,710,649

1.92%

    2,084,240        Carried  

3(c) Re-election of Mr Frank Cooper as a Director

     Ordinary        464,414,975        14,315,293        5,432,756        1,374,273        22,323,353        850,474        736,264      541,104,917

97.03%

  16,568,702

2.97%

    2,124,285        Carried  

3(d) Re-election of Mr Ben Wyatt as a Director

     Ordinary        477,896,918        516,839        5,435,249        1,688,291        22,271,917        910,133        728,041      555,927,864

99.74%

  1,465,392

0.26%

    2,429,871        Carried  

4 Adoption of Remuneration Report

     Ordinary        457,382,259        21,185,695        5,444,486        1,501,223        19,718,670        2,739,180        1,087,343      531,075,843

95.39%

  25,680,559

4.61%

    2,645,842        Carried  

5 Approval of Grant of Executive Incentive Scheme Awards to CEO & Managing Director

     Ordinary        464,260,897        14,076,856        5,419,533        1,756,377        19,204,757        3,402,397        1,219,823      537,738,502

96.60%

  18,915,756

3.40%

    3,030,518        Carried  

 

Page 4 of 5


Resolution details

     Instructions given to validly appointed proxies
(as at proxy close)
     Direct votes
(as at close of direct voting)
     Number of votes cast on the poll
(where applicable)
     Resolution
result
 

Resolution

   Resolution
type
     For      Against      At the
proxy’s
discretion
     Abstain      For      Against      Abstain      For   Against   Abstain*      Carried /
Not
carried
 

6 Reinsertion of proportional takeover provisions

     Ordinary        474,957,487        3,713,283        5,450,193        1,416,334        22,010,776        878,096        1,017,219      552,687,022

99.18%

  4,588,315

0.82%

    2,513,648        Carried  

7 Change of Company Name

     Ordinary        478,415,731        233,081        5,482,291        1,406,194        21,236,568        1,758,948        914,575      555,452,971

99.64%

  2,015,042

0.36%

    2,343,108        Carried  

8 Change of External Auditor

     Ordinary        477,547,325        1,046,006        5,485,747        1,458,219        22,109,531        665,386        1,135,174      555,444,883

99.69%

  1,713,289

0.31%

    2,657,703        Carried  

9 Adoption of Climate Report

     Ordinary        250,024,445        223,466,694        5,454,971        6,585,310        21,102,314        1,633,511        1,170,266      281,694,608

51.03%

  270,274,921

48.97%

    7,819,775        Carried  

10(a) Amendment to the Constitution

     Special        22,506,553        438,098,543        5,401,558        18,985,615        2,177,925        20,755,505        976,661      34,563,853

6.43%

  503,187,977

93.57%

    21,465,564       
Not
carried
 
 

10(b) Contingent Resolution – Capital protection

     Ordinary        68,844,355        395,344,245        5,394,401        15,403,391        2,327,266        20,695,049        887,776      Not applicable – item 10(b) was not required and was not put to the meeting as it was conditional on item 10(a) being passed      

10(c) Contingent Resolution – Climate-related lobbying

     Ordinary        58,326,495        401,372,913        5,387,270        19,899,714        2,267,109        20,840,105        802,877      Not applicable – item 10(c) was not required and was not put to the meeting as it was conditional on item 10(a) being passed      

10(d) Contingent Resolution – Decommissioning

     Ordinary        57,379,199        409,109,009        5,392,161        13,106,023        2,263,928        20,702,641        943,522      Not applicable – item 10(d) was not required and was not put to the meeting as it was conditional on item 10(a) being passed      

 

*

Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll

 

Page 5 of 5


Forward-looking statements

This announcement contains forward-looking statements. The words ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions are intended to identify forward-looking statements. These forward-looking statements are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woodside, BHP and their respective related bodies corporate and affiliates (and each of their respective directors, officers, employees, partners, consultants, contractors, agents, advisers and representatives), and could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by those forward-looking statements or any projections or assumptions on which those statements are based.

The forward-looking statements are subject to risk factors, including those associated with the oil and gas industry as well as those in connection with the Transaction. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and cost estimates.

Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. These statements may assume the success of the Transaction, BHP’s oil and gas portfolio or Woodside’s business strategies, the success of which may not be realised within the period for which the forward-looking statements may have been prepared, or at all. No guarantee, representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns, statements or tax treatment in relation to future matters contained in this presentation.

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