Anglogold Ashanti Plc · NYSE:AU
Anglogold Ashanti — Corporate Update (September 2026)
44 slides from Anglogold Ashanti's corporate update, Sep 25, 2026
Slide 1: Building Nevada's Next Prolific Gold District
M I N I N G T O E M P O W E R P E O P L E A N D A D V A N C E S O C I E T I E S N Y S E │ J S E │ G S E B E AT T Y G O L D D I S T R I C T | N E VA D A P R O J E C T S Building Nevada's Next Prolific Gold District Investor Site Visit & Strategic Overview | September 2026
Slide 2: Forward-Looking Statements & Legal Disclosures
Forward-Looking Statements & Legal Disclosures 2 LEGAL & REGULATORY COMPLIANCE Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold price
Slide 3: Technical Report Summary
Technical Report Summary For additional information on the Arthur Gold Project, refer to the Technical Report Summary on a Pre-Feasibility Study for the Arthur Gold Project (the “AGP TRS”), filed as Exhibit 19.15.3 to the 2025 Form 20-F. Mineral Resource and Mineral Reserve The Mineral Resource and
Slide 4: Nevada Projects: The Vision
Nevada Projects 4 THE VISION INVESTOR SITE VISIT & STRATEGIC OVERVIEW Nevada – USA
Slide 5: Nevada Projects: The Key Takeaways to Remember
Nevada Projects: The Key Takeaways to Remember 5 CORE MESSAGE INVESTOR SITE VISIT & STRATEGIC OVERVIEW Back-to-back projects in the world’s premier mining jurisdiction. # Laying the foundation for the next great Nevada Gold District.Structured execution, proven team, permitting ability and track rec
Slide 6: Beatty District, North Bullfrog, Arthur Gold Project and regional opportunities
• PFS complete • 10.8Moz total exclusive Mineral Resource (Silicon & Merlin)#, • MPO advancing toward submission, focused on Merlin with a 13-year LOM • Feasibility Study underway Beatty District North Bullfrog Project Arthur Gold Project Regional Opportunities • Generational Tier 1 District • Targe
Slide 7: The Strategic Building Blocks of the Next World Class Gold District
The 5 Strategic Building Blocks of the Next World Class Gold District 7 STRATEGIC ARCHITECTURE BLOCK 1 Entry platform into the district BLOCK 2 Ecological baseline North Bullfrog • Improve understanding of permitting process • Near-term cash flow • Operational readiness • Local workforce development
Slide 8: The Beatty Gold District Advantage
The Beatty Gold District Advantage 8 STRATEGIC ARCHITECTURE INVESTOR SITE VISIT & STRATEGIC OVERVIEW Favorable Geology OVERCOMES REFRACTORY CARLIN CHALLENGES Streamlined Processing LOW CAPITAL & OPERATIONAL INTENSITY Unencumbered Assets MAXIMIZED DISTRICT VALUE Tier-1 Infrastructure READY FOR RAPID
Slide 9: Arthur Gold Project
Arthur Gold Project
Slide 10: Arthur Gold Project – Strategic Building Blocks | PFS • MPO • FS
Arthur Gold Project – Strategic Building Blocks | PFS • MPO • FS 10 TIER-1 CORNERSTONE INVESTOR SITE VISIT & STRATEGIC OVERVIEW An innovative Front-End Loaded approach integrating PFS and FS workflows to de-risk and accelerate permitting. Early funding of the MPO during the PFS enabled key data coll
Slide 11: Arthur Gold Project 2026 - Mineral Reserve Results Summary
ARTHUR GOLD PROJECT 2026 - MINERAL RESERVE RESULTS SUMMARY Mineral Reserve - Merlin deposit Probable: 88Mt @ 1.75g/t for 4.9Moz Mineral Reserve Gold Price ($/oz) 1,950 Gold Produced (Moz) c. 4.5 Ore tonnes (Mtpa) c. 12.75 Life of Mine (Yrs) – initial c. 9 Avg Annual Production (Au Koz) c. 500 Projec
Slide 12: AGP Technology Vision
Enhanced Safety Eliminate exposure by removing people from active, high-risk mining zones. Assure critical controls, retain local intervention. Increased Productivity Lowers mechanical downtime, increases utilization, and optimizes continuous operations. Builds resilience (flexibility & backup). Pot
Slide 13: What Makes Arthur Unique? Bulk Mining, High Grades, Oxide Ore
What Makes Arthur Unique? Bulk Mining, High Grades, Oxide Ore 13 TIER-1 CORNERSTONE INVESTOR SITE VISIT & STRATEGIC OVERVIEW AGP Mining & Geology Bulk mining capability. ~150m average mineralization thickness. Ultra-class trucks & electric shovels. Phase 1: ~10M tonnes at 5.0 g/t estimated. AGP Proc
Slide 14: What Makes Arthur Unique? Bulk Mining, High Grades, Oxide Ore
What Makes Arthur Unique? Bulk Mining, High Grades, Oxide Ore 14 TIER-1 CORNERSTONE INVESTOR SITE VISIT & STRATEGIC OVERVIEW 2 km
Slide 15: What Makes Arthur Unique? Industry-Leading Cost Structure
What Makes Arthur Unique? Industry-Leading Cost Structure 15 TIER-1 CORNERSTONE INVESTOR SITE VISIT & STRATEGIC OVERVIEW Source: S&P Global Market Intelligence, 2025 Results PROJECTED TOTAL CASH COST* Lowest cash cost among Nevada majors Driven by simple oxide processing & bulk mining methods Favora
Slide 16: Arthur Gold Project Area - Plan View
A rt h u r G o ld P ro je c t A re a - P la n V ie w Merlin Mineral Resource Merlin Mineral Resource targeted for conversion Silicon Mineral Resource Merlin Mineral Reserve Merlin Potential Exploration Upside Arthur Gold Project Potential M o z A u Mineral Reserve & Resource Merlin Reserve converted
Slide 17: Resource Stewardship
Resource Stewardship
Slide 18: Existing Authorizations – Record of Success in Permitting
Existing Authorizations – Record of Success in Permitting 18 FEDERAL LANDS PERMITTING INVESTOR SITE VISIT & STRATEGIC OVERVIEW Year Project Name Federal Analysis 2020 Silicon Exploration Project Env. Assessment 2020 Crown Exploration Project Env. Assessment 2020 Mother Lode Exploration Plan Env. Ass
Slide 19: Environmental Study is Foundational to the Mine Design
Environmental Study is Foundational to the Mine Design 19 ECOLOGICAL BASELINE INVESTOR SITE VISIT & STRATEGIC OVERVIEW 01 Ecological Surveys Establishes extensive baseline conditions. 02 Resource Testing Investigates water quantity and regional flow. 03 Plan Integration Embeds biodiversity and effic
Slide 20: Nevada Permitting Framework: Regulatory Path
Nevada Permitting Framework: Regulatory Path 20 REGULATORY & SUSTAINABILITY OVERVIEW INVESTOR SITE VISIT & STRATEGIC OVERVIEW Proven team navigating well understood State and Federal regulatory requirements. STATE & FEDERAL APPROVALS ENVIRONMENTAL COMMITMENTS MPO Submission: Formal mine plan of oper
Slide 21: District-Wide Resource Security & Water Stewardship
District-Wide Resource Security & Water Stewardship 21 ECOLOGICAL BASELINE INVESTOR SITE VISIT & STRATEGIC OVERVIEW Committed to sustainable operations through advanced water stewardship and science-based biodiversity protection. STRATEGIC WATER STEWARDSHIP CONSERVATION BANK Community Resource: Vita
Slide 22: Stakeholder Alignment
Stakeholder Alignment
Slide 23: Stakeholder Alignment & Earning the Social License
Stakeholder Alignment & Earning the Social License SOCIAL LICENSE Proactive stakeholder alignment through transparent dialogue, community-led planning, and sustainable investment. Community Engagement Advisory Framework: Dedicated community advisory group & Beatty Foundation. Active Dialogue: Struct
Slide 24: Putting Down Roots in the Community
Putting Down Roots in the Community 24 SOCIAL LICENSE INVESTOR SITE VISIT & STRATEGIC OVERVIEW Construction began May 2026 on a permanent Community Relations Center in the town of Beatty. “We took an exciting step forward with the official groundbreaking ceremony… This new space will serve as a hub
Slide 25: Safety Performance & Site Hazard Training
Safety Performance & Site Hazard Training
Slide 26: Operational Excellence – The Results
Operational Excellence – The Results 26 SAFETY OVERVIEW INVESTOR SITE VISIT & STRATEGIC OVERVIEW Reduction in TRIFR • Our proactive leading indicators have translated into a sustained, measurable reduction in the AGP Total Recordable Injury Frequency Rate (TRIFR) Safety Milestone • Celebrating our l
Slide 27: North Bullfrog
North Bullfrog
Slide 28: About the projects | North Bullfrog Project
About the projects | Nevada Projects Link to NBP Video North Bullfrog Project 28 STRATEGIC ARCHITECTURE INVESTOR SITE VISIT & STRATEGIC OVERVIEW
Slide 29: North Bullfrog Project Summary
North Bullfrog Project Summary 29 STRATEGIC ARCHITECTURE INVESTOR SITE VISIT & STRATEGIC OVERVIEW 1 Using $1,600/oz* Project parameters based on 2023 Feasibility Study, published at AngloGold Ashanti’s full year results ended 31 December 2023; figures to be updated following receipt of Record of Dec
Slide 30: North Bullfrog Project Summary
North Bullfrog Project Summary 30 STRATEGIC ARCHITECTURE INVESTOR SITE VISIT & STRATEGIC OVERVIEW PHASING & MATERIAL OPERATIONS 10 sequential mining phases. 210 Mt total material moved. 77 Mt total reserve ore. 1.5:1 low stripping ratio. Day-one ore accessibility. CORE FLEET 3x CAT 995 Loaders 8x CA
Slide 31: North Bullfrog Project the Regional Starter Platform
Detailed Engineering Complete Runway cleared for construction; All technical deliverables had been defined with majority at issued for construction status Construction Ready Major early contracts and long-lead items prepared, early contractor involvement active. Regulatory Milestone Record of Decisi
Slide 32: North Bullfrog Project Anticipated Timeline
North Bullfrog Project Anticipated Timeline 32 NORTH BULLFROG PROJECT (NBP) INVESTOR SITE VISIT & STRATEGIC OVERVIEW Timeline is based on receiving all necessary regulatory permits by Dec 2026. 2026 2027 2028 2029 Permitting finalization Construction planning Long lead equipment Operational readines
Slide 33: One Starter Project Leading to a Giant Operational Leap
One Starter Project Leading to a Giant Operational Leap INVESTOR SITE VISIT & STRATEGIC OVERVIEW 33 NORTH BULLFROG TO ARTHUR GOLD North Bullfrog Regional Starter Project Arthur Gold Project Tier One Asset De-Risking Permitting Lessons Learned Procurement & Execution Operational Readiness & Construct
Slide 34: District Exploration
District Exploration
Slide 35: District Geology
District Geology 35 EXPLORATION & GROWTH INVESTOR SITE VISIT & STRATEGIC OVERVIEW Silicon Merlin Mother Lode Legend • AGA Claim Boundary • Deposit • Paleozoic Rocks • Pre-13 Ma Volcanic Rocks • 13-11.6 Ma Volcanic Rocks • Post 11.6 Ma Volcanic Rocks • Post Mineral Cover SNA Secret Pass North Bullfro
Slide 36: Priority Exploration: West Merlin
Forward-Looking District Exploration Program West Merlin Exploration • Mineralization style: disseminated and high-grade vein hosted Au • Multiple high-grade vein targets with thicknesses over 30m • Drilled dimensions: 1.7 km strike length x 750m Width x Average thickness >200 m • Still open to the
Slide 37: Priority Exploration: Silicon
Forward-Looking District Exploration Program Silicon Exploration • Proven continuity of high-grade Tramway vein • Drilled dimensions: 1 km strike length x >700 m down dip x 30-80 m vein thickness • Still open north and south along strike Priority Exploration: Silicon 37 EXPLORATION & GROWTH INVESTOR
Slide 38: Priority Exploration: Silicon-Merlin Connection
Forward-Looking District Exploration Program Silicon Extension • Extend the Tramway vein southeast along strike to connect Silicon to Merlin • Mineralization in north Merlin transitions from a northeast to a northwest (Silicon style) orientation Priority Exploration: Silicon-Merlin Connection 38 EXP
Slide 39: Priority Exploration: Silicon NW Target
Forward-Looking District Exploration Program Silicon NW Target • Discovery made during hydrological drill program • Over 1 km northwest along strike from silicon • Disseminated style mineralization • Exploring for high-grade feeder like Silicon Priority Exploration: Silicon NW Target 39 EXPLORATION
Slide 40: Exploration Value (E4V)
Forward-Looking District Exploration Program Exploration 4 Value (E4V) • Exploration 4 Value is a long-term exploratory drill planning exercise undertaken by AGA. •The program employs a disciplined ratings matrix, accounting for geological confidence, potential extraction timelines, and probability-
Slide 41: Path Forward
Path Forward
Slide 42: Planned Execution Roadmap: Anticipated Permitting & Engineering Milestones
H2 2026: Record of Decision Targeted H1 2027: MPO BLM Target Submission H1 2028: FS Report Target Completion 2026 2027 2028 2029 2030 2031 2032 2033 North Bullfrog Project (The Entry Platform) Arthur Gold Project (The Enduring Gold Producer) H1 2027: Target Construction Start H1 2028: Target First G
Slide 43: Five strategic building blocks summary
BLOCK 1 North Bullfrog Starter Mine Acts as the low-capex entry platform providing early heap leach cash flow, establishing localized supply networks, and builds local workforce. BLOCK 2 Ecological & Baseline Certainty Secures multi-season baseline data and environmental permits (including desert to
Slide 44: Investor Relations
ANDREA MAXEY Telephone: +61 08 9435 4603 Mobile: +61 400 072 199 amaxey@aga.gold w w w . a n g l o g o l d a s h a n t i . c o m YATISH CHOWTHEE Telephone: +27 11 637 6273 Mobile: +27 78 364 2080 yrchowthee@aga.gold INVESTOR RELATIONS General e-mail enquiries investors@aga.gold
AngloGold Ashanti — Corporate Update (September 2026) on 6ix