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Investor Presentaiton

Directional Unit Costs and Material Movement(1) Mining cost (A$/wmt) 6 5 4 (37%) Long Island ---------- Base Case Plan wmt (Mt) 110 100 90 90 80 80 70 70 60 60 50 50 Tropicana Improved mining costs ANGLOGOLDASHANTI igo Mining costs have fallen 37% since CY15 . • ⚫ Lower diesel costs Productivity improvements Introduction of 600t class hydraulic shovel to mining fleet. Further upside exists Additional 600t class face shovels In-pit dumping of waste Long Island target A$2.50/t (nominal in 2015) 2 40 40 - 30 20 20 10 10 1 0 CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 Mining Cost (A$/wmt) wmt (Mt) Target A$2.50/t 1) For further detailed information on Tropicana mining costs and schedule outlook see Tropicana Gold Mine Investor/Analyst Visit presentation and ASX release dated 4 Aug 2017 24
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