Future-Enabling Growth Strategy Update

Quellaveco looking ahead. Mid 2022 First production • On track ~12 month ramp up 2023 Future Commercial production Expansion options • On track Guidance Production (kt) C1 unit cost - nominal (c/lb) Capex-growth ($m)60% basis 2022F 2023F 2024F 120-160 320-370 (prev 100-150) (prev 300-350) 320-370 ~125 n/a n/a 500-700 <250 Anglo American Mid & long term ~10% CuEq growth (-300ktpa19) Since approval, first 5 years' unit cost down from ~96c/lb to ~85c/lb (2018 real basis) (nominal: ~105c/lb to ~95c/lb) Production brought forward - significant value enhancement 20 20

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