Unlocking Value and Performance Outlook

Lower unit costs more than offset cost inflation Copper (c/lb)12 -5% PGMs ($/PGM oz)12 -6% De Beers ($/ct)12 Venetia UG temporary +7% transition impact Anglo American Q1 positions ~165 ~157 at Que & Coll -980 ~920 2023F 2024F Iron ore ($/t) 12 -3% Partly offset by premium ~38 ~37 pricing 2023F 2024F ~75 ~80 ~75 нн 2023F 2024F Steelmaking coal ($/t)12 0% ~115 ~115 Premium qualities 2023F 2024F 2026F+ Group unit costs √2% vs 2023F 2023F 2024F 21

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