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N Y S E │ J S E │ G S E MINING FORUM AMERICAS 2026 M I N I N G T O E M P O W E R P E O P L E A N D A D V A N C E S O C I E T I E S S E P T E M B E R 2 0 2 6 w w w . a n g l o g o l d a s h a n t i . c o m
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Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, mine life, total cash costs, all-in sustaining costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects, preliminary financial and production metrics for in-process projects, the ability to convert Mineral Resource into Mineral Reserve and replace Mineral Reserve net of depletion from production and outlook of AngloGold Ashanti plc’s (the “Company”, “AngloGold Ashanti” or “AGA”) operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects, the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti’s financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as “believe”, “expect”, “aim”, “anticipate”, “intend”, “foresee”, “forecast”, “predict”, “project”, “estimate”, “likely”, “may”, “might”, “could”, “should”, “would”, “seek”, “plan”, “scheduled”, “possible”, “continue”, “potential”, “outlook”, “target” or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti’s actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics, the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti’s annual report on Form 20-F for the financial year ended 31 December 2025 filed with the United States Securities and Exchange Commission (“SEC”). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti’s actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti’s future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. The information included in this presentation has not been reviewed or reported on by AngloGold Ashanti’s external auditors. Non-GAAP financial measures This communication may contain certain “Non-GAAP” financial measures, including, for example, “total cash costs”, “total cash costs per ounce”, “all-in sustaining costs”, “all-in sustaining costs per ounce”, “average gold price received per ounce”, “total cash cost margin”, “sustaining capital expenditure”, “non-sustaining capital expenditure”, “EBITDA”, “Net debt (cash)” and “free cash flow”. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use. Reconciliations from IFRS to Non-GAAP financial measures can be found in the appendices to this presentation or in AngloGold Ashanti’s Earnings Release for Q2 2026, which is available on its website. Website: w w w . a n g l o g o l d a s h a n t i. c o m INVESTOR NOTE │ DISCLAIMER M I N I N G F O R U M A M E R I C A S 2 0 2 6 2
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LEADING NORTH AMERICAN MAJOR | WITH A GLOBAL FOOTPRINT M I N I N G F O R U M A M E R I C A S 2 0 2 6 3 Fit-For-Purpose Corporate Structure World-Class Diversified Portfolio Social License to Operate NYSE:AU primary listing Denver HQ Global scale Top 5 Producer, No.1 in Africa Strong safety record Ranked Top 3 among ICMM members Additional liquidity Well-established JSE secondary listing Diversified 10 operations in 8 countries Successful track record Operating across Africa, Australia, Americas Russell US Indexes Inclusion broadens investor attractiveness High quality Mineral Resource and Mineral Reserve base Leadership team Experienced, proven, well-established Strong technical capability From Denver, Johannesburg and Perth, supporting Full Asset Potential Significant organic pipeline Tier One growth in Obuasi and Nevada Decarbonisation Advancing projects to achieve 2030 targets
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SAFETY │OUR HIGHEST PRIORITY M I N I N G F O R U M A M E R I C A S 2 0 2 6 4 R E I N F O R C I N G S A F E T Y P R O T O C O L S I N O U R P U R S U I T O F Z E R O H A R M *TRIFR: Total Recordable Injury Frequency Rate (excludes non-managed joint ventures) We continuously strive to remove harm and injury from our operations. Cuiabá, Brazil 1.0 2.0 3.0 4.0 5.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 0.79 Q2 2026 -83% TRIFR ICMM 2025 member companies avg. 2.10 Total Recordable Injury Frequency Rate* Injuries per million hours worked
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GLOBAL PORTFOLIO | TIER 1 ASSETS DRIVING GROUP PERFORMANCE 5 L O W- C O S T , H I G H- M A R G I N T I E R O N E A S S E T S A N C H O R I N G T H E P O R T F O L I O M I N I N G F O R U M A M E R I C A S 2 0 2 6 DRC Kibali (45%) (c) Egypt Sukari (50%) Tanzania Geita Australia Tropicana (70%) Sunrise Dam Brazil AGA Mineração (Cuiabá) Colombia Quebradona Argentina Cerro Vanguardia (92.5%) United States of America Arthur Gold Project(a) North Bullfrog Project Nevada Regional Deposits(b) Guinea Siguiri (85%) Ghana Obuasi Iduapriem Tier 1 Projects Tier 2 Assets Exploration Tier 1 Assets Legend Notes: (a) Arthur Gold Project (previously known as Expanded Silicon Project, includes the Silicon and Merlin deposits) (b) Includes deposits of Reward, Bullfrog, Mother Lode, Crown Block (SNA, Secret Pass and Daisy) and the Sterling mine (c) Operated by Barrick Mining Corporation (Barrick) TIER 1 Lower cost │ Scale │ Growth potential Assets Projects ▼ ▼ Geita Obuasi Kibali Sukari Cuiabá Tropicana Nevada Quebradona Gold Production TCC* TCC Margin* AISC* 524koz $1,292/oz 71% $1,786/oz TIER 2 Reliable cash generators │ FP focus │ Opportunities to improve cost competitiveness Assets ▼ Sunrise Dam Siguiri Iduapriem Cerro Vanguardia Gold Production TCC* TCC Margin* AISC* 220koz $1,876/oz 58% $2,390/oz *Refer to appendices below and "Non-GAAP disclosure" in AngloGold Ashanti's Earnings Release for Q2 2026 for definitions and reconciliations.
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* Refer to “Non-GAAP disclosure” for definitions and reconciliations. H1 2026 │ OPERATIONAL DISCIPLINE DRIVING RETURNS R I G O R O U S C O N T R O L L A B L E C O S T M A N A G E M E N T M A X I M I Z I N G B O T T O M- L I N E E A R N I N G S A N D S H A R E H O L D E R D I V I D E N D S Serra Grande gold production in H1 2025 accounted for 26,000oz. *Refer to appendices below and "Non-GAAP disclosure" in AngloGold Ashanti's Earnings Release for Q2 2026 for definitions and reconciliations. **The financial measures “headline earnings (loss)” and “headline earnings (loss) per share” are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the SEC applicable to the use and disclosure of Non-GAAP financial measures M I N I N G F O R U M A M E R I C A S 2 0 2 6 6 Production - Group 1,468koz -2% y-o-y (excluding Serra Grande) Total Cash Costs* - Group $1,436/oz +17% y-o-y (royalties, fuel, inflation, FX accounted for c.18%; controllable costs -1%) Capital Expenditure - Group $1,016m +42% y-o-y (brownfield reinvestment, advancing Nevada) EBITDA* $4.3bn +82% y-o-y Headline Earnings** $2.3bn +111% y-o-y Net Cash Flow from Operating Activities $3.1bn +80% y-o-y Free Cash Flow* $1.9bn +102% y-o-y Dividends Declared $949m +102% y-o-y
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CAPITAL ALLOCATION │ ENHANCING FUTURE RETURNS 7 A S E C T O R- L E A D I N G F R A M E W O R K D E L I V E R I N G O N E O F T H E M O S T B A L A N C E D A N D G E N E R O U S Y I E L D S I N T H E I N D U S T R Y *Refer to appendices below and "Non-GAAP disclosure" in AngloGold Ashanti's Earnings Release for Q2 2026 for definitions and reconciliations. ** Includes $1,026m paid in dividends during Q1 2026. Sustaining capital expenditure* Safe, stable operations Base dividend (Minimum payout $0.125 per quarter) Robust Balance Sheet < 1.0 x Net Debt* / EBITDA* Cash flow from operations Operational Excellence Growth capital expenditure* (Investing in future low cost growth) Top up dividend (payout to achieve 50% FCF* target) 50% of Free Cash Flow* Excess cash optionality Potential Share Buybacks Under supportive market conditions Additional Dividends Additional returns to shareholders Long-term Debt Reduction 2025: Enhancing Shareholder Yield • Established an industry-leading dividend payout framework • Declared >$3.0bn** in dividends since the end of 2024 • Successfully distributed >50% of our $2.9bn FCF* in 2025 2026: Optimizing the Balance Sheet • Executed proactive liability management program • Successfully retired $666m of our long-dated bonds in April 2026 • Stronger balance sheet to support long-term operational flexibility • Targeting a net cash* balance of c.$1bn at the end of 2026 2026: Strategic Share Repurchase • New proposed $2bn share repurchase program approved by shareholders • Disciplined capital returns, in line with North American peers • Supplement dividend policy, which remains main form of capital return M I N I N G F O R U M A M E R I C A S 2 0 2 6
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DIVIDENDS │ CONVERTING THE GOLD PRICE TO SHAREHOLDER RETURNS 8 *Refer to appendices below and "Non-GAAP disclosure" in AngloGold Ashanti's Earnings Release for Q2 2026 for definitions and reconciliations **Dividend data is based on dividends declared during the relevant period; dividend formula for H1 2024 is based on 20% of the free cash flow, before growth capital expenditure; dividend formula for H1 2025 and H1 2026 pays a base dividend of $0.50 per share annually, plus a variable dividend to achieve a 50% payout of free cash flow. Total dividends declared for FY2024 was c.$439m and for FY2025 was c.$1.8bn 206 938 1,895 92 469 949 H1 2024 H1 2025 H1 2026 Free cash flow* Dividend Declared* Translating robust free cash flow* into >$3.0bn of dividends declared since 2024. Dividend declared ($/m) S T R O N G C A S H G E N E R A T I O N D R O V E A 1 0 2 % Y E A R- ON - Y E A R I N C R E A S E I N H 1 2 0 2 6 D I V I D E N D S M I N I N G F O R U M A M E R I C A S 2 0 2 6
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STRATEGIC CATALYSTS │ DE-RISKING HIGH -MARGIN GROWTH 9 M U L T I- S T A G E O P T I O N S I N E X E C U T I O N A N D S T U D I E S U N D E R W A Y O N C A P I T A L E F F I C I E N T G R O W T H P R O J E C T S TARGETING LOW RISK, HIGH MARGIN ORGANIC GROWTH BROWNFIELD GROWTH Obuasi • Growing production by an additional ~130koz to achieve targeted 400koz/pa by 2028 • Advancing additional surface source opportunities Geita • Advancing plant expansion evaluation with processing trade-offs nearing completion. • Ongoing exploration to unlock potential underground and open pit upside Sukari • Mining expansion: new portal, fleet upgrade, accelerated stripping • Processing: new adsorption tank, gravity circuit to improve recovery Cuiabá • Extend life through Mineral Reserve growth, infrastructure upgrades • Increase plant throughput via Line 2 refurbishment • Higher ore feed from satellite operations being implemented Siguiri • Progressing the development of additional satellite pit • Progressing the study work to establish full plant treatment capacity of fresh rock (12mtpa) • Extend life through Mineral Reserve growth, infrastructure upgrades GREENFIELD GROWTH Nevada • Arthur Gold Project (Merlin): Feasibility Study has commenced • Ongoing Mineral Resource conversion drilling targeting the upgrade of 1.4 Moz from Inferred to Indicated categories • North Bullfrog: NEPA Record of Decision anticipated by end of 2026 c.500koz/pa Sukari – Egypt M I N I N G F O R U M A M E R I C A S 2 0 2 6
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NEVADA │ ADVANCING ARTHUR GOLD PROJECT ARTHUR GOLD PROJECT 2026 - MINERAL RESERVE RESULTS SUMMARY Mineral Reserve - Merlin deposit Probable: 88Mt @ 1.75g/t for 4.9Moz Mineral Reserve Gold Price ($/oz) 1,950 Gold Produced (Moz) c. 4.5 Ore tonnes (Mtpa) c. 12.75 Life of Mine (Yrs) – initial c. 9 Avg Annual Production (Au koz) c. 500 Project Capital Expenditure ($bn) - real c. 3.6 LOM Total Cash Costs ($/oz) - real c. 778 LOM AISC ($/oz) - real c. 954 ARTHUR GOLD PROJECT EVOLUTION • Feasibility level environmental, hydrological, and community baseline studies underway • Drilling underway to support Mineral Resource expansion and expected development of additional Mineral Reserve by year-end 2026 • Merlin Mineral Reserve predominantly oxide material (greater than 95%) amenable to conventional processing, requiring significantly less complexity/technical risk than refractory processing MERLIN MINERAL RESERVE PIT - Mineralised blocks displayed 10 Refer to Technical Report Summary on Pre-feasibility Study for Arthur Gold Project ("PFS"), filed as Exhibit 19.15.3 to the Company’s Annual Report on Form 20-F for the financial year ended 31 December 2025, as filed with the SEC on 26 March 2026. Estimates are as of December 31, 2025, unless otherwise noted, and economic estimates presented are calculated based on the Mineral Reserve declared in the PFS only, exclusive of Mineral Resource. Refer to the Mineral Resource and Mineral Reserve information in this presentation. Project capital, cash costs and AISC estimates are calculated at a pre-feasibility study accuracy level of approximately ±25% and a contingency range not exceeding 15%. Reconciliations of Non-GAAP forward-looking information not provided to most directly comparable IFRS measure in reliance on exception provided by Rule 100(a)(2) of Regulation G. See "Corporate Update" in the Company’s Earnings Release for the three months and year ended 31 December 2025. M I N I N G F O R U M A M E R I C A S 2 0 2 6
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Arthur Gold Project Potential Moz Au NEVADA │ PAVING THE WAY FOR ARTHUR’S GROWTH A R T H U R G O L D P R O J E C T P O T E N T I A L Arthur Gold Project Area - Plan View Merlin Mineral Resource Merlin Mineral Resource targeted for conversion Silicon Mineral Resource Merlin Mineral Reserve 11 Exclusive Mineral Resource is the inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied. Refer to “2025 Mineral Resource and Mineral Reserve Information” in the Company’s Earnings Release for the three months and year ended 31 December 2025. Rounding of numbers may result in computational discrepancies in the Mineral Resource and Mineral Reserve tabulations. Potential exploration upside is based upon exploration results and there is no certainty that it will be realised. The Mineral Resource is subject to further exploration, development and risks, and no assurance can be given that all or any portion of the Mineral Resource will eventually convert to Mineral Reserve. Conversion of Mineral Resource to Mineral Reserve could differ from management estimates and any deviations may be significant. Refer to the Mineral Resource and Mineral Reserve information in this presentation. Mineral Reserve & Resource Merlin Potential Exploration Upside Merlin Reserve converted in 2025 Merlin Resource targeted for conversion in 2026 0.6 Merlin Resource 0.8 Silicon Resource Merlin Exploration Potential Upside 1.4 5.1 4.2 4.9 0.4 1.0 4.5 3.4 +81% +218% 2.0 – 4.0 Merlin Mineral Reserve - Probable Merlin Mineral Resource targeted for conversion - Inferred Merlin Mineral Resource targeted for conversion - Indicated Merlin Mineral Resource - Inferred Merlin Mineral Resource - Indicated Merlin Exploration Potential Upside Silicon Mineral Resource- Measured & Indicated Silicon Mineral Resource- Inferred Exploration potential M I N I N G F O R U M A M E R I C A S 2 0 2 6
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12 Best-in-Class Safety Ranked Top 3 among ICMM members; focus on safe, stable operations Leading Cost Performance Real total cash costs since Q2 2021 - held 20% below the industry average growth Tier One Production Growth and excellent brownfields optionality Robust Balance Sheet Approaching net cash; $4.2bn liquidity, no near-term maturities Enhanced Capital Returns Strong dividend payout - 50% FCF c.$949m dividend declared for H1 2026 Superior, Predictable Operating Performance Active Portfolio Management Enhancing Capital Returns Streamlined Portfolio Divested non-core assets and closed loss makers to enhance portfolio focus Value Accretive Growth Added high-margin, long-life assets in Egypt and Nevada CONSISTENT DELIVERY COMPELLING VALUATION Geita, Tanzania M I N I N G F O R U M A M E R I C A S 2 0 2 6 CLEAR STRATEGIC EXECUTION | DELIVERING SUPERIOR VALUE G R O W I N G M A R G I N S A N D S H A R E H O L D E R R E T U R N S
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Visible Alpha data for the next twelve months (NTM) – solid bubbles 7 September 2026, transparent bubbles 31 July 2025 Company reports, Grey bubbles represent the Peer group: Agnico-Eagle, Barrick, Gold Fields, Kinross and Newmont CONCLUSION │ PREMIUM POSITION WITH SIGNIFICANT EMBEDDED UPSIDE 13M I N I N G F O R U M A M E R I C A S 2 0 2 6 M A I N T A I N I N G S E C T O R- L E A D I N G Y I E L D S W H I L E A D V A N C I N G A H I G H- R E T U R N G R O W T H P I P E L I N E Bubble size: FCF Yield, AGA NTM 8% Target Zone Resilient outperformance supported by future catalysts • Near-term Execution: Successful delivery of Obuasi ramp-up • Organic Growth Engine: Targeting ~10% organic production growth from Tier-1 brownfield pipeline • Transformational Pipeline: Advancing Nevada greenfield growth strategy with North Bullfrog, Arthur projects • Superior Returns: Sustaining leading FCF yields, funding an industry- leading dividend yield AngloGold Ashanti - engineered for continued outperformance AGA
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ANDREA MAXEY Mobile: +61 400 072 199 amaxey@a ga.gold w w w . a n g l o g o l d a s h a n t i . c o m YATISH CHOWTHEE Mobile: +27 78 364 2080 yrchowthee@aga.gold INVESTOR RELATIONS General e-mail enquiries investors@anglogoldashanti.com
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XX 2026 Guidance Gold Production (Koz) Group 2,800 – 3,170 Managed Operations 2,530 – 2,860 Non-Managed Operations 270 – 310 Africa 1,890 – 2,150 Australia 495 – 555 Americas 415 – 465 Costs (1) ($/Oz) Group All-in Sustaining Costs 1,780 – 1,990 Managed Operations 1,825 – 2,050 Non-Managed Operations 1,355 – 1,460 Africa 1,780 Australia 2,100 Americas 1,725 Group Total Cash Costs 1,315 – 1,430 Managed Operations 1,335 – 1,455 Non-Managed Operations 1,135 – 1,225 Africa 1,300 Australia 1,815 Americas 1,190 Capital Expenditure (1) ($M) Group Total Capital Expenditure 1,825 – 1,975 Managed Operations 1,640 – 1,770 Non-Managed Operations 185 – 205 Group Sustaining Capital Expenditure 1,040 – 1,140 Managed Operations 985 – 1,075 Non-Managed Operations 55 – 65 Group Non-sustaining Capital Expenditure 785 – 835 Managed Operations 655 – 695 Non-Managed Operations 130 – 140 (1) The Company is not providing quantitative reconciliations to the most directly comparable IFRS measures for its Non-GAAP financial guidance shown above in reliance on the exception provided by Rule 100(a)(2) of Regulation G because the reconciliations cannot be performed without unreasonable efforts as such IFRS measures cannot be reliably estimated due to their dependence on future uncertainties and adjusting items, including, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics, and other business and operational risks and challenges and other factors, including mining accidents, that the Company cannot reasonably predict at this time but which may be material. Outlook economic assumptions for 2026 guidance are as follows: $0.68/A$, BRL5.47/$, AP1,606/$, ZAR16.90/$, Brent $61/bbl and gold price of approximately $4,250/oz. Cost and capital forecast ranges for 2026 are expressed in “nominal” terms. “Nominal” cash flows are current price term cash flows that have been inflated into future value, using an appropriate “inflation” rate. Cost and capital forecast ranges for 2027 are expressed in “real” terms. “Real” cash flows are adjusted for “inflation” in order to reflect the change in value of money over time. Estimates assume neither operational or labour interruptions or power disruptions, nor further changes to asset portfolio and/or operating mines and have not been reviewed by AngloGold Ashanti's external auditors. Other unknown or unpredictable factors, or factors outside the Company's control, including inflationary pressures on its cost base, could also have material adverse effects on AngloGold Ashanti's future results and no assurance can be given that any expectations expressed by AngloGold Ashanti will prove to have been correct. Measures taken at AngloGold Ashanti's operations together with AngloGold Ashanti's business continuity plans aim to enable its operations to deliver in line with its production targets. Actual results could differ from guidance, and any deviations may be significant. Please refer to the Risk Factors section in AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2025 filed with the SEC. OUTLOOK │ 2026 GUIDANCE REAFFIRMED 15 G R O W I N G M A R G I N S A N D S H A R E H O L D E R R E T U R N S M I N I N G F O R U M A M E R I C A S 2 0 2 6
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(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. Costs per ounce may not be calculated based on amounts presented in this table due to rounding. (2) Corporate and other includes non-gold producing managed operations and comprises Corporate, Africa other, Australia other and Americas other. (3) Total including equity-accounted non-managed joint ventures. (4) “Total cash costs per ounce” and “all-in sustaining costs per ounce” may not be calculated based on amounts presented in this table due to rounding. Rounding of figures may result in computational discrepancies. APPENDIX A │ ALL -IN SUSTAINING COSTS 16 F O R T H E Q U A R T E R E N D E D 3 0 J U N E 2 0 2 6 M I N I N G F O R U M A M E R I C A S 2 0 2 6 ALL-IN SUSTAINING COSTS Geita Sukari Obuasi Tropicana - Attr. 70% AngloGold Ashanti Mineração Projects Sub-total Kibali - Attr. 45% Tier 1 Sunrise Dam Siguiri Iduapriem Cerro Vanguardia Tier 2 Corporate and other (2) Non- managed joint ventures Managed operations Group Total (3) Cost of sales 214 217 123 167 121 - 842 127 969 131 169 127 118 545 14 127 1,401 1,528 By-product revenue (1) (2) - (2) (5) - (10) (1) (11) (1) - - (59) (60) - (1) (70) (71) Realised other commodity contracts - - - - - - - - - - - - - - - - - - Amortisation of tangible, intangible and right of use assets (57) (104) (18) (36) (24) - (239) (26) (265) (16) (14) (22) (15) (67) (3) (26) (309) (335) Adjusted for decommissioning and inventory amortisation - - - 1 - - 1 - 1 - - - (1) (1) - - - - Corporate administration, marketing and related expenses - - - - - - - - - - - - - - 44 - 44 44 Lease payment sustaining 9 1 - 6 6 1 23 2 25 3 1 1 - 5 - 2 28 30 Sustaining exploration and study costs 2 - - - 1 - 3 - 3 1 3 - - 4 - - 7 7 Total sustaining capital expenditure 38 62 48 14 46 2 210 18 228 22 19 37 26 104 - 18 314 332 All-in sustaining costs (4) 205 174 153 150 144 4 830 121 951 139 178 142 69 528 56 121 1,414 1,535 Gold sold - oz (000) 124 121 51 92 73 - 461 71 532 51 76 47 47 221 - 71 682 753 All-in sustaining costs per ounce - $/oz (1) 1,655 1,444 2,980 1,617 1,973 - 1,797 1,710 1,786 2,742 2,337 3,013 1,471 2,390 - 1,710 2,073 2,039
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(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. Costs per ounce may not be calculated based on amounts presented in this table due to rounding. (2) Corporate and other includes non-gold producing managed operations and comprises Corporate, Africa other, Australia other and Americas other. (3) Total including equity-accounted non-managed joint ventures. (4) “Total cash costs per ounce” and “all-in sustaining costs per ounce” may not be calculated based on amounts presented in this table due to rounding. Rounding of figures may result in computational discrepancies. APPENDIX B │ TOTAL CASH COSTS 17 F O R T H E Q U A R T E R E N D E D 3 0 J U N E 2 0 2 6 M I N I N G F O R U M A M E R I C A S 2 0 2 6 TOTAL CASH COSTS Geita Sukari Obuasi Tropicana - Attr. 70% AngloGold Ashanti Mineração Sub-total Kibali - Attr. 45% Tier 1 Sunrise Dam Siguiri Iduapriem Cerro Vanguardia Tier 2 Corporate and other (2) Non- managed joint ventures Managed operations Group Total (3) Cost of sales 214 217 123 167 121 842 127 969 131 169 127 118 545 14 127 1,401 1,528 - By-product revenue (1) (2) - (2) (5) (10) (1) (11) (1) - - (59) (60) - (1) (70) (71) - Inventory change (12) (2) (5) - (1) (20) 7 (13) (2) 5 - 2 5 - 7 (15) (8) - Amortisation of tangible assets (50) (103) (18) (33) (20) (224) (25) (249) (14) (13) (21) (15) (63) (2) (25) (289) (314) - Amortisation of right of use assets (7) (1) - (3) (4) (15) (1) (16) (2) (1) (1) - (4) (1) (1) (20) (21) - Amortisation of intangible assets - - - - - - - - - - - - - - - - - - Rehabilitation and other non-cash costs (1) 3 (3) - (2) (3) - (3) - (4) (2) (3) (9) (1) - (13) (13) - Retrenchment costs - - - - - - - - - - - (1) (1) - - (1) (1) Total cash costs (4) 143 112 96 129 89 569 107 676 112 156 103 43 414 10 107 993 1,100 Gold produced - oz (000) 116 119 48 93 72 448 76 524 49 78 47 46 220 - 76 668 744 Total cash costs per ounce - $/oz (1) 1,230 940 1,998 1,388 1,241 1,270 1,426 1,292 2,258 1,995 2,189 933 1,876 - 1,426 1,486 1,480 Average gold price received per ounce - $/oz 4,436 4,470 Total cash cost margin - % 71% 58%
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APPENDIX B │ TOTAL CASH COSTS 18M I N I N G F O R U M A M E R I C A S 2 0 2 6 Six months Six months Six months ended ended ended Jun Jun Jun 2026 2025 2024 US Dollar million, except as otherwise noted Unaudited Unaudited Unaudited Cost of sales 2,944 2,585 1,936 - By-product revenue (154) (75) (62) - Inventory change (7) (15) (38) - Amortisation of tangible assets (601) (556) (329) - Amortisation of right of use assets (45) (49) (43) - Amortisation of intangible assets - - - - Rehabilitation and other non-cash costs (28) (24) (10) - Retrenchment costs (1) (1) (2) Total cash costs 2,107 1,866 1,452 Gold produced – oz (000) 1,468 1,524 1,254 Total cash costs per ounce - $/oz 1,436 1,224 1,158 Rounding of figures may result in computational discrepancies.
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APPENDIX C │ EBITDA 19M I N I N G F O R U M A M E R I C A S 2 0 2 6 Quarter Quarter Six months Six months EBITDA ended ended ended ended Jun Jun Jun Jun 2026 2025 2026 2025 US Dollar million, except as otherwise noted Unaudited Unaudited Unaudited Unaudited EBITDA Profit for the period 1,192 806 2,654 1,348 Add back: Finance costs and unwinding of obligations 38 44 128 85 Finance income (36) (39) (73) (71) Taxation 468 240 955 427 Amortisation of tangible, right of use and intangible assets 309 303 600 558 Other amortisation 3 (1) 1 2 EBITDA 1,974 1,353 4,265 2,349 Rounding of figures may result in computational discrepancies.
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APPENDIX D │ NET DEBT (CASH) 20M I N I N G F O R U M A M E R I C A S 2 0 2 6 As at As at NET DEBT (CASH) Jun Jun 2026 2025 US Dollar million, except as otherwise noted Unaudited Unaudited Borrowings - non-current portion 1,559 2,017 Borrowings - current portion 12 86 Lease liabilities - non-current portion 156 128 Lease liabilities - current portion 51 66 Total borrowings 1,778 2,297 Less: Cash and cash equivalent, net of bank overdraft (2,769) (1,986) Net debt (cash) (991) 311 Net debt (cash) to EBITDA ratio (0.13):1 0.08:1 Total borrowings to profit for the period 0.40:1 1.11:1 Rounding of figures may result in computational discrepancies.
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APPENDIX E │ FREE CASH FLOW 21M I N I N G F O R U M A M E R I C A S 2 0 2 6 Quarter Quarter Six months Six months FREE CASH FLOW ended ended ended ended Jun Jun Jun Jun 2026 2025 2026 2025 US Dollar million, except as otherwise noted Unaudited Unaudited Unaudited Unaudited Net cash flow from operating activities (1) 1,432 1,018 3,141 1,743 Repayment of loans advanced to joint ventures 16 17 66 77 Distributions to non-controlling interests (234) (150) (397) (229) Operating cash flow 1,214 885 2,810 1,591 Capital expenditure on tangible and intangible assets (487) (350) (915) (653) Free cash flow 727 535 1,895 938 (1) Includes working capital movements as per table below. (Increase) decrease in inventories (35) 19 (43) 19 (Increase) decrease in trade receivables (79) (145) (151) (186) (Decrease) increase in trade payables 71 (14) 33 (141) Movement in working capital (43) (140) (161) (308) Rounding of figures may result in computational discrepancies.
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APPENDIX E │ FREE CASH FLOW 22M I N I N G F O R U M A M E R I C A S 2 0 2 6 Six months FREE CASH FLOW ended Jun 2024 US Dollar million, except as otherwise noted Unaudited Cash generated from operations 735 Dividends received from joint ventures 36 Taxation paid (99) Net cash inflow from operating activities 672 Corporate restructuring costs 2 Capital expenditure on tangible and intangible assets (490) Net cash from operating activities after capital expenditure and excluding corporate restructuring costs 184 Repayment of lease liabilities (43) Finance costs accrued and capitalised (71) Net cash flow after capital expenditure and interest 70 Other net cash inflow from investing activities 152 Cash restricted for use (16) Free cash flow* (1) 206 (1) Adjusted to exclude corporate restructuring costs. During H1 2024, free cash flow was calculated and reported by AngloGold Ashanti to include cash inflow from operating activities, less cash outflow from investing activities and after finance costs, adjusted to exclude once-off acquisitions, disposals and corporate restructuring cots, and movements in restricted cash. To enhance comparability with industry peers, AngloGold Ashanti revised its definition of free cash flow in 2025 and it has since been calculated as operating cash flow less capital expenditure. Rounding of figures may result in computational discrepancies.