AngloGold Ashanti will release results for the six months ended 30 June 2023 (the “Period”) on the Johannesburg
Stock Exchange News Service on 4 August 2023.
With reference to the Listings Requirements of the JSE Limited, issuers are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous corresponding reporting period
(“comparative period”). The comparative period is for the six months ended 30 June 2022.
Expected Headline Earnings and Basic Earnings
Shareholders are advised that AngloGold Ashanti has reasonable certainty that basic earnings for the Period are
expected to be between $25 million and $54 million, resulting in basic earnings per share (“EPS”) between 6 US
cents and 13 US cents, a decrease of between 82% to 92% from the comparative period. Basic earnings and
EPS for the comparative period were $298 million and 71 US cents, respectively.
Headline earnings for the Period are expected to be between $125 million and $155 million, with headline earnings
per share (“HEPS”) between 30 US cents and 37 US cents, a decrease of between 48% to 58% from the
comparative period. Headline earnings and HEPS for the comparative period were $300 million and 71 US cents,
respectively.
The expected decrease in basic earnings for the Period versus the comparative period is the result of non-cash
impairments and derecognitions at our Brazilian operations which totaled $103 million net of tax, or 24 US cents.
These non-cash impairments related to continued operational underperformance at Córrego do Sítio, Cuiabá’s
Queiroz metallurgical plant which suspended operating activities while the buttress at the Calcinados tailings storage facility (“TSF”) is designed and completed, and derecognition of legacy TSFs no longer in use.
Both basic earnings and headline earnings were further impacted by higher non-cash environmental provisions
of $38m net of tax, or 9 US cents, for legacy TSFs following implementation of new legislation in Brazil relating to
emergency response and safety management for TSFs, the effect of continued industry-wide inflation which impacted operating costs by about $111m, or 26 US cents, increased investment in exploration and evaluation
costs, the effect of the transition to third-party gold concentrate sales at the Cuiabá mine complex and the Siguiri
carbon-in-leach (“CIL”) tank failure in May 2023.

Operational Performance
Gold production for the Period is expected to be 1.236Moz, compared to 1.233Moz for the comparative period.
Gold production is expected to be marginally higher year-on-year, following a stronger second quarter, with increased production contributions from Obuasi, Sunrise Dam, Geita, Iduapriem and Tropicana. The increase in
gold production was mainly driven by higher overall recovered grade for the group, partially offset by lower tonnes processed, including at AGA Mineração following the transition to gold concentrate sales, at Geita following the
planned mill shutdown, which has been completed, and at Siguiri following the CIL tank failure, which has since been repaired.
The financial information on which this trading statement is based has not been reviewed or reported on by
AngloGold Ashanti’s external auditors.
Johannesburg
1 August 2023
JSE Sponsor: The Standard Bank of South Africa Limited