Anglo American Minas-Rio Project Update

HIGH QUALITY PELLET FEED PRODUCTS With the perfect fit for the evolving iron ore consumer market Alumina silica content 0% 2% 4% 6% 8% Australia Standard Quality Minas-Rio Increased market demand for high quality ore Minas-Rio Minas-Rio High quality pellet feed products Brazil North America • Direct Reduction - ~68% Fe Other Africa China . Kumba Iron Ore Blast Furnace - ~67% Fe CIS . India Low Silica and Alumina Australia High Quality 10% 56% 58% 60% 62% 64% 66% 68% 70% Fe content 1) Chinese production (rich ore equivalent) inferred from a small sample of mines Source: CRU, AME, Anglo American Minas-Rio products are priced on a basis. fully reflecting the excellent physical and chemical specifications 13 13

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