Investor Presentaiton

Attractive greenfield and brownfield options Growth capex' ($bn) Long life greenfields and fast returning brownfields Capex Volume (pa) From Payback Collahuasi 5th Ball Mill (Copper) Forecast Returns IRR Margin Approved ~$0.1bn² +15kt² Q4 2023 ~3 years >30% >70% Sishen³ (Iron Ore) Woodsmith (Crop Nutrients)4 Under Review³ 2023 capex approved Project plan under review Mogalakwena expansion (PGMs) Ongoing Collahuasi debottlenecking5 (Copper) -2023 Optimisation of development timeline and design ongoing Progressing the six workstreams for the Future of Mogalakwena to drive the best value outcome Debottlenecking studies in progress; implementation between 2025-2028, potential for ~20-50ktpa² Collahuasi expansion (Copper) -2027/8 Technology & innovation Ongoing $0.1bn to $0.3bn pa Studies under way for next stage expansion; potential up to +100ktpa² from ~2032 Multiple options - typically value accretive with sustainability benefits 1. Cash expenditure on property, plant and equipment including related derivatives, net of proceeds from disposal of property, plant and equipment and includes direct funding for capital expenditure from non-controlling interests. Shown excluding capitalised operating cash flows. Guidance includes unapproved projects and is, therefore, subject to the progress of project studies, and unapproved Woodsmith capex of -$1bn pa is excluded after 2023. 'From' column represents first production. 2. Attributable share of capex and production volumes (44% share). 3. This refers to the implementation of Ultra High Dense Media Separation (UHDMS) technology at Sishen. Due to additional complexities identified, the project has been delayed pending a further review. 4. Capex spend for 2020-2023 is approved. Ongoing technical review confirmed there are several improvements to modify design to bring it up to Anglo American's safety and operating integrity standards and optimise value for the long term. Final studies underway; capex & schedule then subject to Board approval. 5. Previously these initiatives were included in Collahuasi Phase 1, which is now split between the 5th Ball Mill and debottlenecking initiatives (e.g. leaching) which are under study. 6. Technology and innovation capex is estimated to be between $0.1-0.3bn pa (previously $0.2-0.5bn pa), including capex on Zero Emissions Haulage Solution (ZEHS) programmes and the lower guidance reflects equity accounting of the SA Regional Renewable Energy Ecosystem joint venture, Envusa Energy. Anglo American 44

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