AngloAmerican Results Presentation Deck
Footnotes
1. Data relates to subsidiaries and joint operations over which Anglo American has management
control. Data excludes results from De Beers' joint operations in Namibia and Botswana. Historical
GHG, energy consumption and fresh water withdrawals data has been adjusted to exclude Thermal
Coal South Africa, which was demerged in June 2021.2021 fatalities was previously restated as a
colleague tragically passed away in 2022 following complications after an accident in 2021.
2. Total Recordable Injury Frequency Rate per million hours worked.
3.
New cases of occupational disease.
4.
Environmental incidents are classified in terms of a 5-level severity rating. Incidents with medium,
high and major impacts, as defined by standard internal definitions, are reported as level 3-5
incidents.
Emissions refers to Scopes 1 and 2.
Jobs supported since 2018, in line with the Sustainable Mining Plan Livelihoods stretch goal.
Copper equivalent production is calculated including the equity share of De Beers' production and
using long-term consensus parameters. Future production levels (~2032) are indicative and subject
to further studies and final approval, see Cautionary Statement slide.
8.
Metrics on an underlying basis - before special items and remeasurements adjusted to include the
Group's attributable share of associates' and joint ventures' results. Group EBITDA also includes
Manganese, Crop Nutrients, third party thermal coal, shipping, exploration expenditure and
unallocated corporate costs.
9.
Copper equivalent unit costs are shown on nominal terms and calculated as the total USD cost base
divided by copper equivalent production.
10. Constitutes a related party transaction under the UK Listing Rules, and therefore will be subject to
approval by Anglo American's shareholders in due course.
11. Annualised dividend yield based on 30 June 2023 share price.
12. Attributable ROCE is defined as attributable underlying EBIT divided by average attributable capital
employed. It excludes the portion of the return and capital employed attributable to non-controlling
interests in operations where the Group has control but does not hold 100% of the equity.
13. Margin represents the Group's underlying EBITDA margin for the mining business. It excludes the
impact of non-mining activities (eg PGMs purchases of concentrate, sale of non-equity product by
De Beers, third party trading activities performed by Marketing) & at Group level reflects Debswana
accounting treatment as a 50:50 joint operation. Mining margin for De Beers on a stand alone basis
is based on proportionate consolidation of mining businesses in De Beers only.
14. Price variance calculated as increase/(decrease) in price multiplied by current period sales volume.
15. Inflation variance calculated using CPI on prior period cash operating costs that have been
impacted directly by inflation.
16. Volume plus cost. Volume: increase/(decrease) in sales volumes multiplied by prior period EBITDA
Anglo American
5.
6.
7.
margin (ie flat unit costs, before CPI). For assets with no prior period comparative (eg in ramp up) all
EBITDA is included in the volume variance. Cost: change in total USD costs before CPI inflation.
17. Other includes the impact of items such as maintenance, deferred stripping and stock movements.
18. Taxes and royalties include all taxes and royalties borne and collected by the Group. This includes
corporate income taxes, withholding taxes, mining taxes and royalties, employee taxes and social
security contributions and other taxes, levies and duties directly incurred by the Group, as well as
taxes incurred by other parties (eg customers and employees) but collected and paid by the Group
on their behalf. Figures disclosed are based on cash remitted, net of entities consolidated for
accounting purposes, plus a proportionate share, based on the percentage shareholding, of joint
operations. Taxes borne and collected by equity accounted associates and joint ventures are not
included.
19. 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. Consequently, for Quellaveco, growth capex reflects our attributable
share. Guidance includes unapproved projects and is, therefore, subject to progress of growth
project studies. Refer to appendix for more details.
20. Sustaining attributable free cash flow is defined as net cash flows from operating activities net of
capital expenditure (sustaining/lifex only), net interest paid, dividends paid to minorities and capital
repayment of lease obligations.
21. Internal analysis using Wood Mackenzie, ICSG, WSA and UN data.
22. Expected average over first 10 years. 100% basis.
23. Copper equivalent future production levels (~2032) are indicative and subject to further studies and
final approval, see Cautionary Statement slide. Collahuasi at our 44% share and represents the
upper end of debottlenecking expectations (as well as the next stage expansion). Quellaveco and
Sakatti at 100% basis. Sakatti is a polymetallic ore body and is stated in copper equivalent terms.
24. Asset life including Inferred Mineral Resources in the Life of Asset Plan. Reserve Life is 27 years.
Indicative, subject to further studies and Board approval.
25. Indicative only. Subject to further studies and Board approval.
26. In comparison to other fertiliser products.
27. Organically certified. Currently certified for organic use in EU and North America with other
certification pending for approval.
28. Progress as at mid-July.
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