Slide 1: a nn
7 a nn a suntan 8 et ee ; Oe | — | ~Y LLU (ad > ~ i =| =| = LL oc O_| |
Slide 2: (Oo = on FF ot — | op) LL a =F ad <—l =
(Oo = on FF ot — | op) LL a =F ad <—l = =| —! LL | iad jae |
Slide 3: Slide 3
Slide 4: (Oo = DM | — | _) | LL a a > ~ <I
(Oo = DM | — | _) | LL a a > ~ <I | | = —l- LL ad ae |
Slide 5: IM HM
IM HM HL TNT Turnover’) EBITDA(2@) EBIT(M@) Attrib profit () Exceptional items ttrib-profit:(i
Slide 6: Business groups
Petroleum Aluminium _ Base Metals Carbon Steel Materials ~ Diamonds & Spec Products Energy Coal. - Stainless Steel Materials
Slide 7: el ne
i el ne It i ig
Slide 8: Profit before tax and attributable profit
my iianni et XCIU { C oti 1S. = - oS — ing oer n & attributable profit nici ie iii Discounting of provisions/Capitalised interest Profit before tax 2, 866 i tee je i on tax expense Wa . . . .
Slide 9: nai iii Hl il | i a
nai iii Hl il | i a 3,102 (15) Net interest (236) 180 | _ Taxation expense Attributa able pr rofi a
Slide 10: Slide 10
Slide 11: Operating cash flow and JV dividends
Operating cash flow and JV dividends Net interest paid Tax paid Available cash flow Capital expenditure Exploration expenditure
Slide 12: Cost savings
é ‘Cost savings on t argin and bo see . ow lll i ay, i i apie Me Ae es ay WN) A real pi a. al: iy NI ee _
Slide 13: Merger benefits and cost savings
a il LCi iiiiiiitiiitines S$ — pr sto 30 June 20 003 | M" Wy Wy) A AN Wy Wh ) ) SN) Wy yy) ye ay Wa LLAMAS Las Cs ck ie Cae ay Me Das Li PO iia i 7 Bei 2 : a ) yi i yy (01S): a gun a 0070 Bm 12-03: exe Dy) TLD LL ae 0) Be Nal hci Ti ui iil if iin Cost related merger benefits 160 ~ 200 _ Non cost rel
Slide 14: (Oo = (op) Re = ae (op) Lu | a > | ac F
(Oo = (op) Re = ae (op) Lu | a > | ac F <— Zz = —l LL | ag ae |
Slide 15: Growth From Deep Inventory
“Growth From Deep Inventory ib in cS tea a : : LS oe of Pr - (ig saa ali [ TG
Slide 16: Slide 16
Slide 17: TET LU TTI TTIL ATE ARTIF EHTTTTTTTR TTT
TET LU TTI TTIL ATE ARTIF EHTTTTTTTR TTT ara fe i i a Si i HAM
Slide 18: Antamina
HN Ml NON) HAA AANA ii Wii Antamina’? oo = 0s oe a
Slide 19: Slide 19
Slide 20: September SA Rand A$ BEE Charter iraq war.
September 11 SA Rand A$ BEE Charter iraq war. World Trade... 3arikt | 1 ak Average - US$1.228 billion
Slide 21: Slide 21
Slide 22: Slide 22
Slide 23: Strategy
‘Stra me U \~
Slide 24: Slide 24
Slide 25: Slide 25
Slide 26: Operating excellence
Operating excellence Improve HSEC statistics Community ~ 1% of pre- tax profits Cut operating costs by 2%pa Return on capital >15% by 2006 Injury rates improved by 20% Improvements in most eco- efficiency measures 1.4% US$310 million 13.4% Il. Growth from a deep inventory of growth projects Investme
Slide 27: The portfolio effect
IV. The porttolio effect Portfolio management Funding and capital management Credit rating of ‘A’ or better Positive cash flow before dividends & funding EBITDA interest cover >8x S&P: A (+ve); Moodys: A2 $1.6bn 12.7x V. The Petroleum CSG Value adding growth Low discovery costs Growing reserves and
Slide 28: a Lu i
ai a Lu i We a i ae a M al) i i it Hi iid aint I 1)
Slide 29: Projects under development
Hillside 3 (South Africa) ~ 100% Aluminium Q4 2003 132,000 tpa Two quarters ahead of initial schedule Paranam refinery expansion (Suriname) — 45% Alumina Q3 2005 Increase capacity to 2.2 million tpa (100%) On time Cerrejon Zona Norte (Colombia) — 33.3% Energy coa Qi 2004 28 million tpa by 2008 On ti
Slide 30: Petroleum projects under development
Ohanet (Algeria) — 45% Q3 2003 Oj 26,100 boe/day One quarter ahead of schedule ROD (Aigeria) - 36% Q1 2004 28,800 boe/day On time Mad Dog (US) ~ 23.9% Q4 2004 20,700 boe/day On time Atlantis (US) - 44% Q3 2006 79,200 boe/day On time GoM Pipelines Infrastructure (US) - 22/25% Q4 2004 Capacities of Oi
Slide 31: Projects completed
Mozal 2 (Mozambique) - 47.1% Q2 2003 Zamzama (Pakistan) - 38.5% Q3 2003 Q2 2003 Bream Gas Pipeline (Australia) - 50% Q2 2003 Q4 2002 Escondida Phase IV (Chile) - 57.5% Q3 2002 Q3 2002 San Juan underground (USA) — 100% Q3 2002 Q3 2002 Tintaya Oxide (Peru) - 99.9% Q2 2002 Q2 2002 Typhoon (USA) - 50% Q
Slide 32: Capital and exploration expenditure
ay HAM ale penditure CAREER i Ss 5-55 se OOO. ye oo TI .. Zi ol a Se A ee Hin NN Ley Wy Wy y us f EGTA Gi, a : oo ee “i - a : iii () : a EU Le I | ay = i y 0 sy POS 1,995 Sustaining capital 671 io 2 Exploration e Sui <—( 348 | ao ene _ Aen ‘milion
Slide 33: Slide 33
Slide 34: si l sl NN i Ay
si l sl NN i Ay 5 ae . _ / - ae ae - - . L 2 _ - . _ a cue - . | . - 1, yResul eo _ | .## #§ }§}3»©™©=C | = ~—COett—eS—iC“#E
Slide 35: Wl__vwۤ_ Te
Wl__vw€§_ Te ie ‘i en CLE UE HELM EE “Net nayables,t receivables & (300 ~ employee provisions Resource Rent Tax provision(200 Tax provisions Debt LL i. acs | = “= a MME, ae Me Ae, 600) lL) J 6, (600 ) 0; of ex a HN ie ac DE ME ane yy Lo oe Coo a7 ig —r”r~”rS~———™”— ado a... Oe eG an wi nterest
Slide 36: Commodity price sensitivities
— i wv )) WAIN ul ill ni i Wi i a i i) Wii a Uy ; y oy - FD y VL) . 5 Tera Vi. _ Ve Va De a Whe dda ae Ly ii ie i US$1/t on iron ore price eae 45 US$1/bbl on oil price 35 USSt/t on metallurgical coal price 20 US /b on aluminium price 1 | : _ USct/lb on copper price: = Cowan ___ USS4/t on ene a price
Slide 37: Currency sensitivities
SW nei Wl (US$SM) Mw Australian dollar (USc1/A$) Operations (net of hedging)" Net monetary liabilities( South African Rand (0.2 Rand/US$) | Operations") - i ne a TT ae he liabilities LWW QW INES easiaass ae eet a ii ee ee aan ee ie ene ii ea SDL LALLA a LLL SSE i ie gn - . 8
Slide 38: Sales revenue
ny yn ou. HEGEL AAA HAE ee il ith va Il) a il i(( (i il i Ot ( nh i Wn Sales revenue 5 cents - (oe | a | a oo . | CC ee . . oe oo | -_ _ a Tae 7. oe - co ae a i a 7 , [oo ii . _ i) ii) Meine Cena cE ee - 1 i cee i eae ae a _ - - - - 7 eae _ oo ve | _. ill _ A i an _ a . LC an ae a . . . . - . con :
Slide 39: {| il i i i
{| il i i i FY2002 Q2 EBIT 729 Depreciation & Amortisation EBITDA 1,147 S$ million Net Profit after Tax Restatement of debt and net monetary liabilities Net Profit after Tax excluding restatements US$ million FY2001 Turnover 49,079 EBIT 3,627 EBIT margin (%) 19.0 Turnover from third party product ac
Slide 40: Slide 40