AngloAmerican Investor Update

Quellaveco modelling Accounting treatment Production (copper equivalent) (ktpa) By-products² Grade (%TCu)³ Stay-in-business capex (nominal)4 Tax rate Ramp-up to full design capacity Accounting treatment considerations once commercial production is reached Fully consolidated with a 40% minority interest Shareholder loans from minority shareholder consolidated in Anglo American net debt ~330 ave. over first 5 years ~220 ave. over 36 year Reserve Life¹ ~5ktpa contained molybdenum (ave. over first 5 years), with silver content 0.82% ROM ave. over first 5 years 0.53%¹ ROM ave. over 36 year Reserve Life¹ ~$0.1bn pa ~40% Ramp-up ongoing with full design capacity expected from mid-2023 Threshold for commercial production will be reached ahead of full design capacity, at which point: Mine depreciation commences Cessation of capitalisation of borrowing costs; interest on Mitsubishi shareholder facility will be expensed in finance costs on consolidation ● ● 1. Please refer to the most recent Anglo American plc Ore Reserves and Mineral Resources Report for more details. 2. By-product credits are included in the C1 unit cost and volumes are based on the average over the first 5 years of production. 3. Grade based on the average over the first 5 years of production. 4. 5-year average on nominal basis. 100% basis. Excludes deferred stripping. Anglo American 43

View entire presentation