Anglogold Ashanti Plc · NYSE:AU
Anglogold Ashanti — Corporate Update (June 2025)
36 slides from Anglogold Ashanti's corporate update, Jun 3, 2025
Slide 1: Tropicana Analyst Visit 2025
TROPICANA ANALYST VISIT 2025
Slide 2: Disclaimer
DISCLAIMER│ANGLOGOLD ASHANTI T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 2 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 pri
Slide 3: Mineral Resource & Mineral Reserve Information
MINERAL RESOURCE & MINERAL RESERVE INFORMATION│ANGLOGOLD ASHANTI T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 3 The Mineral Resource and Mineral Reserve stated herein were prepared in compliance with Subpart 1300 of Regulation S-K (17 CFR § 229.1300) (“Regulation S-K 1300”). Refer to Item 1300
Slide 4: Tropicana Overview
0 1 2km Boston Shaker Underground Tropicana Underground Havana Open Pit Village Aerodrome Plant TSF Havana Underground Wind Turbines Solar Farm Springbok Open Pit (Conceptual) Crouching Tiger (HS02) Open Pit TROPICANA OVERVIEW T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 4 Location: 330 km ENE
Slide 5: 2025 YTD Safety Performance
T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 5 2025 YTD SAFETY PERFORMANCE LTIFR: Lost Time Injury Frequency rate | RWC: Restricted Work Cases | TRIFR: Total Recordable Injury Frequency Rate (12-month average)
Slide 6: A Track Record of Exceeding Expectations
A TRACK RECORD OF EXCEEDING EXPECTATIONS T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 6 Continuous improvement and delivery … *Gold production at 100% - forecast production subject to plans. 506 417 459 480 517 425 379 437 443 447 ~400-425 ~400-425 0 50 100 150 200 250 300 350 400 450 500 550 6
Slide 7: Department Strategy
T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 7 Department Strategy Underground Mining Increasing total UG material movement in conjunction with development to support delivery of the Havana UG project and establish four UG ore sources. Open Pit Mining “Right-size” the mine, to optimise fleet si
Slide 8: Full Asset Potential
Full Asset Potential
Slide 9: Full Asset Potential Process
FULL ASSET POTENTIAL PROCESS T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 9 Weeks 1-4 Weeks 4-8 Weeks 9-12 Weeks 12-13 Beyond Identify Diagnose (Validate & prioritise) Design Identify solutions Plan & mobilise Deliver Deliver Wave 1 initiatives Establish repeatable model Facilitate PMO Finalise
Slide 10: Full Asset Potential Refresh: Opportunity Prioritisation
FULL ASSET POTENTIAL REFRESH: OPPORTUNITY PRIORITISATION T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 10 We considered 114 opportunities across all workstreams… HPGR Rollers Regional Contracts Grinding Media Strategy Critical Spares Review Asset Preservation GC Drillhole Spacing Increase underg
Slide 11: Processing Plant
Processing Plant
Slide 12: Processing Overview
PROCESSING OVERVIEW T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 12 2025 Anticipated Performance Throughput: 9.3 - 9.5 Mt Head grade: 1.51 - 1.56 g/t Plant availability: 96% Metallurgical recovery: 89% - 90% Residence time: +24 hrs
Slide 13: Full Asset Potential Refresh: Processing
FULL ASSET POTENTIAL REFRESH: PROCESSING ***Approved early May 2025 Overview Situation: Fines crushing project scope & cost estimates required on a compressed timeline Solution: Parallel engagement and review with site, vendor, group technical team and Australia Business Unit project team comple
Slide 14: Renewables
Renewables
Slide 15: Renewable Power Facility
RENEWABLE POWER FACILITY T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 15
Slide 16: Renewable Energy (GWh)
RENEWABLE ENERGY (GWH) T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 16 *May 2025 data is based on forecast 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 6.5 7.5 8.5 9.5 4.5 0.5 1.5 2.5 3.5 5.5 G W h 0.0 Sep-24 3.4 Oct-24 4.1 Nov-24 4.4 3.6 Dec-24 4.4 5.6 Jan-25 3.7 8.0 10.0 8.5 9.8 4.8 7.93.7 6.
Slide 17: Open Pit Mining
Open Pit Mining
Slide 18: Open Pit Mining; Overview
OPEN PIT MINING; OVERVIEW T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 18 • Conventional drill & blast, load and haul open pit mining • Most material mined is hard rock and requires drilling and blasting • Mining is carried out on blasting benches of up to 12m in height then mined in flitches (
Slide 19: Open Pit Mining Fleet
OPEN PIT MINING FLEET T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 19 Drill rigs Haul trucks Excavators Other • 1 x Hitachi 5600 hydraulic excavator • 1 x Caterpillar 6060 hydraulic excavator • 2 x Caterpillar 6040 hydraulic excavators • 1 x Hitachi EX2500 & 1 x Hitachi EX1200 hydraulic excavat
Slide 20: Full Asset Potential Refresh: Mobile Maintenance Improvement
T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 20 FULL ASSET POTENTIAL REFRESH: MOBILE MAINTENANCE IMPROVEMENT ORGANISATIONAL STRUCTURE STEERING COMMITTEE SINGLE POINT ACCOUNTABILITY ORGANISATIONAL and STRATEGY RESOURCING REQUIREMENTS LABOUR INTENSITY and COSTS FLEET STRATEGY WORKSHOP FACILITIES
Slide 21: Full Asset Potential Refresh: 2025 Open Pit Fleet Availability
T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 21 Overview • Q1 Priority: Drills & batter scalers to generate broken stocks • Q1 Opportunity: Trucks - work through legacy backlog and chassis crack repairs during low demand quarter • Key focus on 600t diggers to improve availability • Availability
Slide 22: Underground Mining
Underground Mining
Slide 23: Underground Mining - Overview
UNDERGROUND MINING - OVERVIEW T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 23 • Development of the first underground mine began in May 2019 via a portal in the Tropicana pit to access Boston Shaker, which started production in Sep 2020. • In Sep 2022 the Tropicana underground mine commenced pro
Slide 24: Underground Mining
UNDERGROUND MINING T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 24 Mining • The Boston Shaker underground mine is designed for conventional mechanised mining methods • Development utilises jumbos for drill and blast excavations • Production activities are based around variations of long hole op
Slide 25: Underground Mining: Grade Control, Ore and Waste
UNDERGROUND MINING T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 25 Grade Control • Underground grade control is completed in advance of stope final designs by underground RC or Diamond drilling - predominantly from dedicated drill drives above the orebody • Drill drives are designed parallel to
Slide 26: Underground Fleet
UNDERGROUND FLEET T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 26 Development • 5 x Sandvik DD421 Production Drilling • 2 x Sandvik DL432i (boom rig) • 1 x Sandvik DL421 (horseshoe) Boggers • 7 X Sandvik LH621 • 1 X Sandvik LH517 • 3 X CAT 2900 Trucks • 11 X Sandvik TH663 • Macmahon is the alli
Slide 27: Full Asset Potential Refresh | Development Value Driver
FULL ASSET POTENTIAL REFRESH | DEVELOPMENT VALUE DRIVER T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 27 100 200 600 0 700 800 900 1,000 1,100 1,200 1,300 Ja n- 24 77 6 Fe b- 24 75 2 M ar -2 4 80 9 Ap r- 24 1, 02 4 M ay -2 4 96 7 Ju n- 24 87 9 Ju l-2 4 92 9 Au g- 24 94 4 Se p- 24 97 4 O ct -2 4
Slide 28: Havana Underground Project
HAVANA UNDERGROUND PROJECT T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 28 Overview: • The Havana Underground project includes mining the Havana Underground orebody via a decline with first production scheduled for H1 2027 • The project is expected to contribute 1.94 Mt of ore grading 3.4 g/t,
Slide 29: Underground Mineral Resource Confidence
UNDERGROUND MINERAL RESOURCE CONFIDENCE T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 29 TP03 BS03 BS04 Mined void BP25 Resource gold wireframes IndicatedMeasured Inferred BS03 Stope Oz BS04 Stope Oz TP03 Stope Oz 0% 20% 40% 60% 80% 100% Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 0% 20% 40% 60% 8
Slide 30: Geology
Geology
Slide 31: Investing in the Future
INVESTING IN THE FUTURE T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 31 BS04 BS03 Tropicana Havana Havana South
Slide 32: Investing in the Future
INVESTING IN THE FUTURE T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 32 32 >10.0 5.0 – 10.0 1.5 – 5.0 1.0 – 1.5 0.5 -1.0 5m @ 0.81 g/t Au from 1239m 2m @ 28.85 g/t Au from 1257m 11m @ 2.19g/t Au from 1131m 26m @ 2.71g/t Au from 1282m Boston Fault Shadow 12m @ 5.94g/t Au from 565m BS04BS03Tropic
Slide 33: Investing in the Future
INVESTING IN THE FUTURE T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 33 33 >10.0 5.0 – 10.0 1.5 – 5.0 1.0 – 1.5 0.5 -1.0 BS04BS03Tropicana Havana Havana South Grade legend (g/t) Cobbler Havana Offset Planned drillholes Exploration Targets Swizzler Fault Havana South
Slide 34: Innovative Directional Drilling
INNOVATIVE DIRECTIONAL DRILLING T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 34 34 • A trial of a directional drill core barrel is planned • The expected benefits of directional coring in deep drill holes are: o Effective penetration rate o Increased target accuracy, ensuring each hole is effec
Slide 35: Regional Exploration
T R O P I C A N A A N A L Y S T V I S I T 2 0 2 5 35 35 • Tenure spans ~70km north and south along belt • Regional exploration strategy to focus within 20km of the mill along trend north and south of the current operation • Positive results received from Rosetta with follow up work planned • Large f
Slide 36: AngloGold Ashanti
At ANGLOGOLDASHANTI www.anglogoldashanti.com