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Completed capital management initiatives

Description  Date 
commenced 

Date 
completed 

Shares 
repurchased

Cost (local
 currency)

Cost (US$ 
million)

August 2004 program
Off-market buy-back of BHP
Billiton Limited shares
23 November 2004
180,716,428
A$2,272m
US$1,780m
February 2006 program
         
Off-market buy-back of BHP
Billiton Limited shares
  03 April 2006
95,950,979
A$2,250m
US$1,600m
On-market buy-back of BHP
Billiton Plc shares
27 April 2006
16 May 2006
18,820,000
 £217m
US$409m
Total under February 2006
program

    114,770,979
  US$2,009m
February 2011 expanded
program

         
On-market buy-back of BHP
Billiton Plc shares1
07 September 2006
14 December 2007
243,625,800
£3,012m
US$6,002m
Off-market buy-back of BHP
Billiton Limited shares1
  26 March 2007
141,098,555
A$3,501m
US$2,817m
Off-market buy-back of BHP
Billiton Limited shares2
  11 April 2011
146,899,809
A$6,000m
US$6,340m
On-market buy-back of BHP
Billiton Plc shares2
16 November 2010
29 June 2011
94,935,748
£2,275m
US$3,677m
Total under February 2011
expanded program

    626,559,912
  US$18,836m

1On 23 August 2006, BHP Billiton announced its intention to return US$3 billion to shareholders over the next 18 months through a series of share buy-backs.

On 7 February 2007, a US$10 billion extension to this program was announced. At that date, 93,435,000 shares in BHP Billiton Plc had been repurchased under the August 2006 program at a cost of US$1.7 billion, leaving US$1.3 billion to be carried forward and added to the February 2007 program.

On-market purchases of BHP Billiton Plc shares continued until 14 December 2007, when the program was suspended until further notice.

2On 15 November 2010, BHP Billiton announced its intention to continue the company's strong track record of returning excess capital to shareholders by reactivating the remaining US$4.2 billion component of its previously suspended US$13 billion buy-back program.

On 16 February 2011, BHP Billiton announced an expanded total US$10 billion capital management program (which includes the US$4.2 billion reactivated on 15 November 2010) which was completed on 29 June 2011.

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