Mining Business Overview

GUIDANCE SUMMARY Earnings Volumes: See slide 28-29 2020 Unit costs: See slide 30 Growth 2020 depreciation: ~$2.7bn Previously: $2.7-2.9bn Sustaining 2021 depreciation: $3.2-3.4bn 2020 net interest expense: ~$0.8bn 2020 effective tax rate: ~32%2 Previously: 31-33% 2021 effective tax rate: 30-32%2 Effective tax rate going forward: 30-33%2 Dividend pay-out ratio: 40% 2021 Previously: $2.7-3.0bn $5.7-6.2bn Growth $1.5-2.0bn Woodsmith ~$0.5bn Sustaining ~$3.7bn Capex¹ ~$4.0bn Previously: $4.0-4.5bn ~$1.4bn Previously: $1.3-1.5bn -$2.6bn Other Quellaveco copper project - 2020 capex: 100% ~$1.3bn; our share $0.8bn Previously: 100% $1.2-1.5bn; our share: $0.7-0.9bn - 2021 capex: 100% $1.3-1.6bn; our share $0.8-1.0bn Our share of capex included in capex guidance 2022 $5.7-6.2bn - Mitsubishi share of capex Growth Sustaining 2023 Growth Sustaining LT sustaining ~$4.1bn ~$3.0bn + lifex increase to net debt (slide 34) Net debt:EBITDA: <1.5x bottom of cycle 2020 inventory build: $1.7bn 2020 net interest paid: ~$0.4bn 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 and reimbursement of capital expenditure. Shown excluding capitalised operating cash flows. Consequently, for Quellaveco, reflects attributable share of capex, see slide 34. Capex guidance is subject to progress of growth project studies and Woodsmith is excluded after 2021 pending completion of technical review. See slide 11 for previous 2021-22 guidance and further detail on sustaining capex guidance. 2. ETR is highly dependent on a number of factors, including the mix of profits, and may vary from the guided ranges. ⑩AngloAmerican 27 27 $1.5-2.0bn -$4.2bn $5.6-6.1bn $1.5-2.0bn

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