We create, preserve and grow value by:

• Delivering on our strategic objectives, plans and growth projects, which helps improve our returns, and also our share price and market capitalisation
• Maintaining prudent financial management and tight cost control contributes to sustained profitability
• Maintaining disciplined and efficient capital allocation to ensure the desired returns on equity, capital and assets
• Returning surplus funds to shareholders in the form of dividends and, in certain circumstances, share buybacks
• Ensuring best possible credit rating profile in order to ensure the lowest possible cost of debt
• Enhancing our ESG performance

Value created, preserved and grown – 2021

For investors and shareholders:

• Dividend of 20 US cents per share for the year declared – total dividend of $85m
• Share price declined by 7.3%, relative to the benchmark Market Vectors Gold Miners Exchange Traded Fund, which fell by 11%
• The relative and absolute TSRs are based on a three-year trailing average using the average share price achieved in 2018 as the base ($9.38 a share) and comparing it to the average share price achieved in 2021. The share price has increased by 124.25% over this period, including dividends paid of $0.72/share from January 2019 until the end of December 2021
• Absolute TSR growth substantially exceeded the stretch target set, while the relative TSR performance is compared to a comparator peer group. The median TSR of the comparator peer group was 70.50% at 31 December 2021

For AngloGold Ashanti:

• Improved tenor of debt profile by issuing a new seven-year $750m bond, at a coupon of 3.375% p.a. and using the proceeds to redeem a 5.125% p.a. bond of the same principal, due in 2022
• Maintained investment grade ratings with Moody’s Investor Services and Fitch; S&P continues to rate AngloGold Ashanti at BB+, which is one notch below investment grade
• Included in ESG indices – S&P Global Corporate Sustainability Assessment, Responsible Mining Index, FTSE4Good and Bloomberg Gender-Equality Index
• Achieved an improved rating in the MSCI ESG index, to BB, from B previously

Contributing to the SDGs:

We create, preserve and grow value by:

• Providing employment and job opportunities
• Paying fair, market-related salaries and benefits, including healthcare
• Providing skills development and training
• Having in place incentive schemes to reward performance excellence
• Promoting diversity and inclusion
• Facilitating access to medical aid and healthcare programmes (malaria and mental health, among others)
• Implementing a new Operating Model which contributed to a loss of employment

Value created, preserved and grown – 2021

For employees:

• On average, 30,561 people employed (including contractors), with $515m ⁽¹⁾ paid in paid in employee benefits, excluding skills development, to give an average annual payment per employee of $16,622 (2020: 36,952, $508m and $13,450 respectively)
• $7.11m spent on skills development (2020: $10.76m)
• Promoted and facilitated COVID-19 vaccination campaigns where practical
• 12.3% ⁽²⁾ of workforce is female (2020: 12.6%)

⁽¹⁾ Payments to employees include salaries, wages and other benefits
⁽²⁾ Employees on payroll

For AngloGold Ashanti:

• Stable, motivated and empowered workforce, working together to deliver on the strategic goals
• Attraction and retention of those skills necessary to the safe, efficient delivery on our strategy and enhanced productivity
• Introduction of a new Operating Model and related organisational restructuring led to a reduction of 215 functional support roles. The impact of this reduction was mitigated by the use of voluntary severance packages to affected employees

Contributing to the SDGs:

We create, preserve and grow value by:

• Delivering on our strategic objectives and growth projects, we provide a reliable, steady market for suppliers
• Contributing to and stimulating local economic activity through our procurement expenditure, especially that portion spent locally
• Ensuring our procurement practices are aligned to best practice and do not enable the exploitation of people along the value chain

Value created, preserved and grown – 2021

For suppliers:

• $2.61bn spent on the total procurement of goods and services (2020: $2.58bn)
• Local preferential procurement, including, in-country capital expenditure, of $2.4bn* or 93% of total procurement (2020: $2.1bn and 82% respectively)

* This amount includes capital expenditure in-country

For AngloGold Ashanti:

• A well-established, reliable, cost-efficient supplier data base aided delivery on our strategy and in particular our aim to optimise overhead, costs and capital expenditure
• Strong relationships with suppliers help ensure business continuity during disruptions to global supply chains, such as those currently being experienced
• Published inaugural Modern Slavery Statement

Contributing to the SDGs:

We create, preserve and grow value by:

• Partnering with governments in our operations, yielding benefits from earnings generated
• Contributing to the national fiscus with the payment of corporate taxes and royalties due to government as well as payment of personal income tax on behalf of employees
• Delivering on our obligations as an ethical, responsible corporate citizen
• Collaborating to develop and provide local infrastructure (water reticulation, educational facilities, among others)

Value created, preserved and grown – 2021

For governments:

• $489m paid in corporate taxes, other taxes and royalties in total (2020: $846m)
• $167m paid as personal income tax on behalf of employees (2020: $209m)

For AngloGold Ashanti:

• Strong, constructive government relations:
  • facilitate partnerships, ethical conduct and good governance
  • help maintain permits and ensure regulatory licences to operate
  • assist in managing risk of regulatory uncertainty

Contributing to the SDGs:

We create, preserve and grow value by:

• Delivering on our obligations as an ethical, responsible corporate citizen
• Providing employment and procurement opportunities
• Focusing our community investment on development of local socio-economic projects that are economically viable and sustainable in the long term that support resilient, self-sustaining communities and improved standard of living – covers agriculture, education and infrastructure, among others
• Conducting community healthcare initiatives such as the malaria programme in Africa and COVID-19 initiatives across our business

Value created, preserved and grown – 2021

For communities:

• $18.1m⁽¹⁾ invested in community socio-economic development projects (2020: $20.6m⁽²⁾)
• Major focus of such projects is at host communities in and around our Africa operations
• Employment and procurement opportunities
• Local procurement spend of $2.4bn (2020: $2.1bn)
• We prioritise the employment of people from our local communities and host countries at our operations

⁽¹⁾ Excludes joint ventures
⁽²⁾ Excludes joint ventures and includes South African operations to date of sale

For AngloGold Ashanti:

• Strong, constructive community relations support our social licence to operate
• Mutually beneficial relations enable us to better understand and manage stakeholder needs and expectations guides socio-economic project delivery
• Reduced incidence of operational disruptions as a result of community protests

Contributing to the SDGs:

Our socio-economic community projects contribute indirectly to:

We create, preserve and grow value by:

• Delivering on our environmental obligations as a responsible corporate citizen – we aim to minimise our environmental impacts and help restore natural capital and preserve environmental value
• Complying with relevant regulations and committing to various standards (ISO standards, Cyanide Management Code, ICMM Principals)
• Having in place systems, plans and procedures to mitigate instances where we have eroded environmental value

Value created, preserved and grown – 2021

For the environment:

• 5 reportable environmental incidents (2020: 8) – action taken to address and mitigate effects
• 3,643ha of land rehabilitated by end 2021 – total rehabilitation liabilities of $688m (2020: 5,243ha; $674m respectively)
• 639,709ha under management of which 806ha was newly disturbed and 177ha rehabilitated at the end of 2021

For AngloGold Ashanti:

• Improved environmental and ESG performance supported responsible investment in our equity and our valuation in the long term
• Reduced environmental impact and GHG footprint, in line with ICMM mining principles and our UNGC commitments

Contributing to the SDGs: