INDEPENDENT AUDITOR’S ASSURANCE REPORT ON SELECTED SUSTAINABILITY PERFORMANCE INFORMATION REPORTED IN ANGLOGOLD ASHANTI LIMITED’S SUSTAINABILITY REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

TO THE DIRECTORS OF ANGLOGOLD ASHANTI LIMITED

Reasonable Assurance Opinion and Limited Assurance Conclusion on selected sustainability information

We have undertaken an assurance engagement on selected sustainability performance information, as described below, and presented in the 2021 AngloGold Ashanti Limited’s (AngloGold Ashanti’s) Sustainability Report for the year ended 31 December 2021 (the Report). This engagement was conducted by a multidisciplinary team with experience in sustainability performance and carbon emissions.

a. Reasonable assurance opinion

In our opinion (and subject to the inherent limitations outlined elsewhere in this report):

• The selected sustainability performance information and related disclosures for the year ended 31 December 2021 identified below in Appendix A (reasonable assurance sustainability performance information) are prepared in all material respects, in accordance with AngloGold Ashanti management’s measurement and reporting criteria applied for preparing that information.
• In relation to AngloGold Ashanti’s reporting to the ICMM Information Disclosure Requirements for Subject Matter 3 for the year ended 31 December 2021, AngloGold Ashanti has in all material respects, implemented systems and approaches to manage its material sustainability risks and opportunities in respect of the sustainability performance information.

b. Limited assurance conclusion

Based on the procedures we have performed and the evidence we have obtained (and subject to the inherent limitations outlined elsewhere in this report), nothing has come to our attention that causes us to believe:

• In relation to the selected sustainability performance information for the year ended 31 December 2021 identified below in Appendix A (limited assurance sustainability performance information), that the information presented in the Report is not prepared, in all material respects, in accordance with AngloGold Ashanti management’s measurement and reporting criteria applied for preparing that information.
• In relation to AngloGold Ashanti’s reporting in relation to the ICMM Information Disclosure Requirements for Subject Matter 1 for the year ended 31 December 2021, that AngloGold Ashanti’s sustainability policies are not aligned in all material respects to ICMM’s 10 SD Principles and any mandatory requirements set out in ICMM Position Statements.
• In relation to AngloGold Ashanti’s reporting in relation to the ICMM Information Disclosure Requirements for Subject Matter 2 for the year ended 31 December 2021, that AngloGold Ashanti has not disclosed, in all material respects, its material risks and opportunities based on its own review of the business and the views and expectations of its stakeholders.
• In relation to AngloGold Ashanti’s self-declared assertion for the year ended 31 December 2021 on page 1 of the Report that the Report is presented in accordance with the “core-level” GRI Standards, that AngloGold Ashanti has not complied in all material respects with the relevant GRI Standard requirements for making that assertion.
• That management has not made a commitment to comply with the World Gold Council’s (WGC) Responsible Gold Mining Principles (RGMP’s) or has not commenced with the self-assessment process, in accordance with the WGC RGMP’S requirement for self-declared assertion and self-assessment process.

Subject matter

We have been engaged to provide a reasonable assurance opinion and a limited assurance conclusion on the following information presented in the Report.

Reasonable assurance

Our reasonable assurance engagement was performed in respect of the following sustainability performance information:

• Information disclosed with reference to the ICMM Requirements for Subject Matter 4 (AngloGold Ashanti’s reported performance for a selection of identified material Sustainable Development [SD] risks and opportunities), as set out in Appendix A and prepared in accordance with management’s measurement and reporting criteria (management’s criteria); and
• The ICMM Information Disclosure Requirements in respect of Subject Matter 3 (Existence and status of implementation of systems and approaches that AngloGold Ashanti is using to manage selected identified material SD risks and opportunities).

Limited Assurance

Our limited assurance engagement was performed in respect of the following sustainability performance information:

• Information disclosed with reference to the ICMM Requirements for Subject Matter 4 (AngloGold Ashanti’s reported performance for a selection of identified material SD risks and opportunities), as set out in Appendix A and prepared in accordance with management’s criteria.
• The ICMM Information Disclosure Requirements in respect of:
  • Subject Matter 1 (Alignment of AngloGold Ashanti’s sustainability policies to ICMM’s 10 SD Principles and any mandatory requirements in ICMM Position Statements); and
  • Subject Matter 2 (AngloGold Ashanti’s material SD risks and opportunities based on its own review of the business and the views and expectations of its stakeholders).
• AngloGold Ashanti’s self-declared assertion that the Report is “in-accordance with” the core-level GRI Standards.
• AngloGold Ashanti’s commitment to align with the WGC’s RGMP’s and the self-assessment process.

The selected sustainability performance information prepared and presented in accordance with management’s criteria are marked with the symbols RA or LA respectively on the relevant pages of the Report where they appear. Download Measurement criteria and reporting definitions for criteria applied to report the information.

AngloGold Ashanti’s responsibilities

The Directors of AngloGold Ashanti are responsible for the selection, preparation and presentation of the selected sustainability performance information in accordance with management’s criteria. This responsibility includes the identification of stakeholders and stakeholder requirements, key issues, commitments with respect to sustainability performance and design, implementation and maintenance of internal control and maintaining adequate records and making estimates that are relevant to the preparation of the Report and the GRI statement, such that it is free from material misstatement, whether due to fraud or error. In addition, the Directors of AngloGold Ashanti are responsible for, in relation to application of the GRI Standards to preparation of the Report, ensuring the Report is prepared in accordance with the GRI Reporting Principles and the “core-level” GRI Standards. The Directors are also responsible for determining the appropriateness of the measurement and reporting criteria in view of the intended users of the selected sustainability performance information and for ensuring that those criteria are publicly available to the Report users.

Inherent limitations

Where AngloGold Ashanti’s reporting of the selected sustainability performance information relies on factors derived by independent third parties, our assurance work has not included examination of the derivation of those factors and other third-party information.

Our assurance report does not extend to any disclosures or assertions relating to management’s future performance plans, forward-looking statements or strategies disclosed in the Report.

Our Independence and Quality Control

We have complied with the independence and other ethical requirements of the Code of Professional Conduct for Registered Auditors issued by the Independent Regulatory Board for Auditors (IRBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards).

EY also applies International Standard on Quality Control 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and other Assurance and Related Service Engagements, and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Our responsibilities

Our responsibility is to express either a reasonable assurance opinion or limited assurance conclusion on the selected sustainability performance information as set out in the Reasonable Assurance and Limited Assurance sections of the Subject Matter paragraph, based on the procedures we have performed and the evidence we have obtained. We conducted our assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical Financial Information, and, in respect of the greenhouse gas emissions, in accordance with ISAE 3410, Assurance Engagements on Greenhouse Gas Statements, issued by the International Auditing and Assurance Standards Board. Those Standards require that we plan and perform our engagement to obtain the appropriate level of assurance about whether the selected sustainability performance information is free from material misstatement.

The procedures performed in a limited assurance engagement vary in nature and timing and are less in extent than for a reasonable assurance engagement. As a result, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement.

Summary of work performed

Reasonable assurance

A reasonable assurance engagement in accordance with ISAE 3000 (Revised) and ISAE 3410 involves performing procedures to obtain evidence about the measurement of the selected sustainability performance information in the Report. The nature, timing and extent of procedures selected depend on the auditor’s professional judgement, including the assessment of the risks of material misstatement of the selected sustainability performance information, whether due to fraud or error. In making those risk assessments, we have considered internal control relevant to AngloGold Ashanti’s preparation of the selected sustainability performance information.

• For the relevant sustainability performance information (listed in Appendix A), we:
  • Tested the suitability and application of management’s criteria to the reported information on a sample basis;
  • Performed analytical procedures to evaluate the relevant data generation and reporting processes against management’s criteria;
  • Inspected supporting documentation on a sample basis to corroborate the statements of management and senior executives in our interviews;
  • Evaluated the reasonableness and appropriateness of significant estimates and judgements made by the directors in preparing the sustainability performance information;
• Established and documented the existence and status of the implementation of systems and approaches that AngloGold Ashanti uses to manage selected identified risks and opportunities related to its sustainability performance (ICMM Subject Matter 3).
• We also performed such other procedures as we considered necessary in the circumstances

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our reasonable assurance opinion.

Limited assurance

A limited assurance engagement undertaken in accordance with ISAE 3000 (Revised) and ISAE 3410 involves assessing the suitability in the circumstances of AngloGold Ashanti’s use of its reporting criteria as the basis of preparation for the selected sustainability performance information, assessing the risks of material misstatement of the selected sustainability performance information whether due to fraud or error, responding to the assessed risks as necessary in the circumstances, and evaluating the overall presentation of the selected sustainability performance information. A limited assurance engagement is substantially less in scope than a reasonable assurance engagement in relation to both risk assessment procedures, including an understanding of internal control, and the procedures performed in response to the assessed risks. The procedures we performed were based on our professional judgement. A limited assurance engagement consists of making enquiries, primarily of persons responsible for preparing the subject matter and related information, and applying analytical and other appropriate procedures.

• For the selected sustainability performance information (listed in Appendix A), we:
  • Interviewed management and senior executives to obtain an understanding of the internal control environment, risk assessment process and information systems relevant to reporting sustainability performance information and selected identified material sustainability risks and opportunities;
  • Performing limited tests of detail on the selected performance information, on a selective basis, as part of assessing whether (i) the data has been appropriately measured, recorded, collated and reported; and (ii) activities set out by management are appropriately evidenced and reported; and
  • Performing analytical procedures to evaluate the relevant data generation and reporting processes against management’s criteria.
• We reviewed AngloGold Ashanti’s policies and management standards to determine their alignment with the ICMM’s 10 Principles and Position Statements (ICMM Subject Matter 1); and
• We evaluated processes to understand how AngloGold Ashanti performs its own review of the business and of the views of its stakeholders to assess its material sustainability risks and opportunities to inform its sustainability reporting (ICMM Subject Matter 2).
• We examined the GRI content index prepared by management to assess whether management has made disclosures in accordance with all the GRI Standards requirements for presenting the Report in accordance with the core-level GRI Standards, to obtain limited assurance about management’s assertion to that effect.
• We obtained evidence in relation to AngloGold Ashanti’s self-declared assertion that management has made a commitment to comply with the WGC’s RGMP’s and has commenced with the self-assessment process.
• We also performed such other procedures as we considered necessary in the circumstances.

We believe that the evidence obtained is sufficient and appropriate to provide a basis for our limited assurance conclusions.

Restriction of Liability

Our report, including our opinion/conclusions, has been prepared solely for the Board of Directors of AngloGold Ashanti in accordance with the agreement between us and for no other purpose. We permit this report to be published in AngloGold Ashanti’s 2021 Sustainability Report, to assist the Directors in responding to their governance responsibilities by obtaining an independent assurance report in connection with the selected sustainability performance information.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Board of Directors and AngloGold Ashanti for our work or for our report and the conclusion contained therein. We agree to publication of our assurance report within AngloGold Ashanti’s Report provided it is clearly understood by recipients or readers of the Report that they enjoy such receipt for information only and that we accept no duty of care to them whatsoever in respect of our assurance report.

Maintenance and integrity of AngloGold Ashanti’s website is the responsibility of AngloGold Ashanti’s management. Our procedures did not involve consideration of these matters and, accordingly we accept no responsibility for any changes to either the selected sustainability performance information as reported, or our independent assurance report that may occur subsequent to the initial date of publication of the Report on AngloGold Ashanti’s website.

Ernst & Young Inc.
Director – Dawid Petrus Venter
Registered Auditor
Chartered Accountant (SA)
102 Rivonia Road

Sandton
29 March 2022

APPENDIX A:

List of the selected sustainability performance information (KPIs) in the scope of the assurance engagement

Reasonable Assurance (RA)

Category	Selected KPIs	Management’s Measurement and Reporting Criteria	Sustainability Report page reference	GRI disclosure	Level of assurance
Employee Safety	Type of injury and rates of injury and number of work-related fatalities	Fatality Rate per 1 million hours Lost time injury frequency rate per 1 million hours All injury frequency rate per 1 million hours See Group Occupational Injuries Data Definitions and Statistical Reporting Procedure Note: Only in scope in continuing operations	19	403-2	Reasonable
Employee and Community Health issues	Occupational diseases (Number of new Silicosis / Tuberculosis (TB) / Noise-Induced Hearing Loss (NIHL) cases)	Number of new cases of Silicosis Number of new cases of Pulmonary Tuberculosis Number of new cases of NIHL	21; 2021 ESG and Sustainability Data Workbook	403-2	Reasonable
Contributing to self-sustaining communities	Community investment (CSI)	Total Community Investment based on site specific policies, in USD	26; 2021 ESG and Sustainability Data Workbook	201-1	Reasonable
Responsible Environmental Stewardship	Energy intensity	Report the intensity ratio for Total Energy expressed as Total Energy in GJ per tonne of ore treated	35; 2021 ESG and Sustainability Data Workbook	302-3	Reasonable
	Total greenhouse gas (GHG) emissions	GHG (Scope 1 and 2) in tonnes CO2e in line with the GHG Protocol	35; 2021 ESG and Sustainability Data Workbook	305-1	Reasonable
	GHG emissions intensity	Intensity ratio for Total GHG emissions (Scope 1 and 2) expressed as Total GHG Emissions in tonnes of CO2e per tonne of ore treated	35; 2021 ESG and Sustainability Data Workbook	305-2	Reasonable
	Total water discharge by quality and destination	Water Discharge Volume in megalitres Water Discharge Conductivity Water Discharge pH Water Discharge Destination	2021 ESG and Sustainability Data Workbook	306-1	Reasonable
	Total water imported by source	Total water imported from surface water in megalitres Total water imported from groundwater in megalitres Total water obtained from third party water utilities in megalitres	36; 2021 ESG and Sustainability Data Workbook	303-1	Reasonable
	Total number and volume of significant spills	Total number and volume of significant spills in kilolitres where a spill is considered ‘significant’ if it meets the criteria for a High, Major or Extreme loss of containment event, as defined in the Environmental Incident Classification and Reporting Standard	2021 ESG and Sustainability Data Workbook	306-3	Reasonable
	Total amounts of overburden, rock, tailings, and sludges and their associated risks	Tonnage of tailings deposited (Million tonnes) Tonnage of waste rock placed (Million tonnes)	2021 ESG and Sustainability Data Workbook	MM3	Reasonable
	Number of operations with Closure plans	Number of company operations that have closure plans	2021 ESG and Sustainability Data Workbook	MM10	Reasonable
Respecting human rights	Percentage of security personnel trained in the organisation’s policies and procedures concerning aspects of human rights (VPSHR) that are relevant to operation	% of security personnel who have received formal training in human rights policies Report whether training requirements apply to third party organizations providing security personnel	28; 2021 ESG and Sustainability Data Workbook	410-1	Reasonable
	Percentage of new suppliers that were screened using labour practices / human rights impacts criteria	% of new suppliers that were screened using labour practices criteria % of new suppliers that were screened using human rights criteria	28; 2021 ESG and Sustainability Data Workbook	414-1	Reasonable
Navigating political and regulatory uncertainty and risk	Royalties and taxes paid to government in terms of Extractive Industries Transparency Initiative (EITI) Principles	Taxation paid to local government authorities, in USD Royalties relates to fees paid on revenue/turnover or profits payable to the Government or Revenue Authorities, based on a fixed or variable percentage and is not part of development and other levies paid to improve skills and regional infrastructure	4; 2021 ESG and Sustainability Data Workbook	201-1	Reasonable

Limited Assurance (LA)

Category	Selected KPIs	Management’s Measurement and Reporting Criteria	Sustainability Report page reference	GRI disclosure	Level of assurance
Navigating political and regulatory uncertainty and risk	Proportion of Senior Management hired from the local community at significant locations of operation	% of senior management hired from the local community	2021 ESG and Sustainability Data Workbook	202-2	Limited
Contributing to self-sustaining communities	Proportion of spending on locally-based suppliers at significant locations of operation	Proportion of spending on local suppliers at significant locations of operation, in USD South Africa=Total spend on Black Economic Empowerment (BEE) entities / (Total procurement spend – Total exclusions) Other sites=Total spend on local suppliers / (Total procurement spend – exclusions) Where “local supplier” refers to a business that provides a product or service to the AngloGold Ashanti based in the same geographical market as the AngloGold Ashanti and no trans-national payments to the supplier are made. The geographical definition of local may include the community surrounding operations, a region within a country, or a country	26; 2021 ESG and Sustainability Data Workbook	204-1	Limited
Responsible Environmental Stewardship	Operational sites owned, leased, managed in or adjacent to protected areas and areas of high biodiversity value outside protected areas	Position in relation to Protected or High Biodiversity Value area Geographic location of operational site near or in Protected or High Biodiversity Value area where ‘protected area’ means a legally designated conservation area such a national park; and ‘high biodiversity value’ means areas not subject to legal protection but recognised for important biodiversity features by a number of governmental and non-governmental organisations Size of operational site near or in Protected or High Biodiversity Value area See: Management Standard and Biodiversity	2021 ESG and Sustainability Data Workbook	304-1	Limited
	Total weight of waste by type and disposal method	Weight of battery waste disposed offsite / onsite / recycled reported in tonnes Volume of hydrocarbon waste disposed onsite / offsite / recycled reported in tonnes Mass of offsite or onsite landfilled general waste reported in tonnes Mass of recycled ferrous metal waste reported in tonnes Mass of recycled non-ferrous metal waste reported in tonnes	2021 ESG and Sustainability Data Workbook	306-2	Limited
	Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with environmental laws and regulations	Number of non-monetary sanctions for non-compliance with environmental laws and regulations Value of significant fines paid for non-compliance with environmental laws and regulations in USD, where significance is defined as exceeding USD100,000	2021 ESG and Sustainability Data Workbook	307-1	Limited
Employee and Community Health issues	Workers with high incidences or high risk of diseases related to their occupation (Number of new Malaria cases & Malaria Lost Time Injury Frequency Rate (MLTIFR))	Number of new Malaria cases MLTIFR per 1 million hours	2021 ESG and Sustainability Data Workbook	403-3	Limited
Respecting human rights	Percentage and total number of operations that have been subject to human rights reviews and/or impact assessments	Percentage of operations that have been subject to human rights reviews and/or impact assessments Total number of operations that have been subject to human rights reviews and/or impact assessments	2021 ESG and Sustainability Data Workbook	412-1	Limited
	Third party incidents / injuries / fatalities related to security interventions	Number of Third-party incidents / injuries / fatalities related to security interventions ( Measurement Criteria and Reporting Definitions)	44; 2021 ESG and Sustainability Data Workbook	GRI 414-2	Limited
Integrated closure planning	Amount of land (owned, or managed) disturbed or rehabilitated	Total land disturbed and not yet rehabilitated (opening balance) in hectares Total amount of land rehabilitated to date in hectares Total amount of land disturbed and not yet rehabilitated (closing balance) in hectares Total amount of land newly rehabilitated within the reporting period to agreed upon end use in hectares Total amount of land newly disturbed within the reporting year in hectares See: Management Standards Closure Planning	39; 2021 ESG and Sustainability Data Workbook	MM1	Limited
Artisanal and small-scale mining (legal and illegal)	Number (and percentage) or company operating sites where Artisanal Small-scale Mining takes place on, or adjacent to, the site; the associated risks and the actions taken to manage and mitigate these risks	Number (and %) of company operating sites where ASM takes place on, or adjacent to, the site; the associated risks and the actions taken to manage and mitigate these risks	2021 ESG and Sustainability Data Workbook	MM8	Limited
Employee, community and asset security	The extent to which grievance mechanisms were used to resolve disputes relating to land use, customary rights of local communities and Indigenous Peoples, and the outcomes.	The extent to which grievance mechanisms were used to resolve disputes relating to land use, customary rights of local communities and Indigenous Peoples, and the outcomes	23	MM7	Limited
	Sites where resettlement took place, including number of households affected	Sites where resettlements took place, the number of households resettled in each, and how their livelihoods were affected in the process	24	MM9	Limited
Respecting human rights	Number of grievances about human rights impacts / impacts on society filed, addressed, and resolved through formal grievance mechanisms	Total number of grievances filed through formal grievance mechanisms Number of grievances about Human Rights impacts / impacts on society filed, addressed, and resolved	2021 ESG and Sustainability Data Workbook	103-2	Limited
	Significant actual and potential negative human rights impacts in the supply chain and actions	Significant actual and potential negative human rights impacts in the supply chain and actions	2021 ESG and Sustainability Data Workbook	414-2	Limited
Talent management, skills development and employee relationships	Number of strikes and lockouts exceeding one week’s duration, by country	Number of strikes and lockouts exceeding one week’s duration, by country	17; 2021 ESG and Sustainability Data Workbook	MM4	Limited
	Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings	Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings	28; 30; 2021 ESG and Sustainability Data Workbook	404-2	Limited
Navigating political and regulatory uncertainty and risk	Material Sustainable Development (SD) risks and opportunities and views and expectations of stakeholders	Material SD risks and opportunities and views and expectations of stakeholders	12; 2021 ESG and Sustainability Data Workbook	ICMM Subject Matter 2	Limited

The ICMM Information Disclosure Requirements

Category	Selected KPIs	Management’s Measurement and Reporting Criteria	Sustainability Report page reference	Level of assurance
ICMM Mining Principles	Subject Matter 1 The alignment of AngloGold Ashanti’s sustainability policies, management standards and procedures to the ICMM Principles, any mandatory requirements set out in ICMM Positions Statements, the Corporate-level Performance Expectations (PE) and corporate level aspects of combined PEs	All AGA policies, management standards and procedures are aligned to the ICMM Principles, any mandatory requirements set out in ICMM Positions Statements, the Corporate-level Performance Expectations (PE) and corporate level aspects of combined PEs. These were also included in the DMA for 2021 reporting period	ICMM Subject Matter 1	Limited
ICMM Mining Principles	Subject Matter 2 Material SD risks and opportunities and views and expectations of stakeholders	Material sustainability risks and opportunities and views and expectations of stakeholders	ICMM Subject Matter 2	Limited
ICMM Mining Principles	Subject Matter 3 Existence and status of implementation of management systems and approaches that AngloGold Ashanti is using to manage a selection of the identified material sustainability risks and opportunities.	The Company’s reported performance during the given reporting period on implementation of management systems and approaches for selected identified material sustainability risks and opportunities	ICMM Subject Matter 3	Reasonable
ICMM Mining Principles	Subject Matter 4 The company’s reported performance during the given reporting period for a selection of the identified material sustainability risks and opportunities.	The company’s reported performance during the given reporting period for a selection of the identified material sustainability risks and opportunities	ICMM Subject Matter 4	Limited or Reasonable as set out in Appendix A above.
ICMM Mining Principles	Subject Matter 5 Disclosure regarding AngloGold Ashanti’s prioritisation process for selecting assets for PE validation through independent external assurance	The assets that will be prioritised based on a combination of factors, namely, the size of the operations, its contribution to the group’s revenue, its sustainability risk profile, and the most recent conformance levels – as assessed by management or through the Group’s combined assurance process	ICMM Subject Matter 5	Limited