Anglo American plc (the “Company”)
Registered office: 17 Charterhouse Street, London EC1N 6RA
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM

8 September 2022

Anglo American Platinum revises refined production guidance as quality assurance processes detect
sub-standard materials received for the Polokwane smelter rebuild

Anglo American plc notes the announcement by Anglo American Platinum Limited released today to the
Johannesburg stock exchange. The text of the announcement is copied below:

Anglo American Platinum announces that it has revised its 2022 refined production guidance, as our
quality assurance processes have detected the delivery of sub-standard materials for the Polokwane
smelter rebuild. Delivery of replacement materials will result in a two-month delay to the completion of
the project. As a result, there will be a build-up in work-in-progress inventory in 2022 and a short-term
timing impact to refined PGM production.

Natascha Viljoen, CEO of Anglo American Platinum, said:

“As we undergo our first full rebuild of the Polokwane smelter in twelve years, our quality assurance
processes identified a defective consignment of materials required to complete the rebuild. We remain
committed to ensuring the structural integrity of our Polokwane smelter, with high standards embedded
into the rebuild to ensure asset integrity and the longevity of this operation. We will not compromise on
safety or quality and therefore the defective materials will not be used, and a new consignment of
materials is expected to be delivered by the end of October. This has resulted in a two-month delay in
recommissioning the Polokwane Smelter. This will result in a build-up in work-in-progress inventory, and
a timing impact to our refined production. We therefore revise our 2022 refined production guidance to
between 3.7 – 3.9 million PGM ounces (previously 4.0 – 4.4 million PGM ounces). Work has commenced
to find solutions to mitigate the impact on refined production this year.”

Guidance

As a result of the delay to the Polokwane smelter rebuild and the resultant work-in-progress inventory
build, we have revised refined production in 2022 to between 3.7 – 3.9 million PGM ounces. Sales
guidance will therefore be revised in line with refined production to between 3.7 – 3.9 million PGM
ounces. There is no impact to metal-in-concentrate guidance which remains at between 3.9 – 4.3 million
PGM ounces and unit cost guidance remains at between R14,000 – R15,000 per PGM ounce. All guidance
is subject to no disruptions due to load-shedding. We have not updated 2023 refined production guidance
at this stage until further information is available, and analysis can be conducted.




Anglo American plc
17 Charterhouse Street, London, EC1N 6RA, United Kingdom
Registered office as above. Incorporated in England and Wales under the Companies Act 1985.
Registered Number: 3564138 Legal Entity Identifier: 549300S9XF92D1X8ME43
For further information, please contact:

Media                                                      Investors

UK                                                         UK
James Wyatt-Tilby                                          Paul Galloway
james.wyatt-tilby@angloamerican.com                        paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759                                   Tel: +44 (0)20 7968 8718

Marcelo Esquivel                                           Emma Waterworth
marcelo.esquivel@angloamerican.com                         Emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891                                   Tel: +44 (0) 20 7968 8574

South Africa                                               Michelle Jarman
Nevashnee Naicker                                          michelle.jarman@angloamerican.com
nevashnee.naicker@angloamerican.com                        Tel: +44 (0)20 7968 1494
Tel: +27 (0)11 638 3189

Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175

The Company has a primary listing on the Main Market of the London Stock Exchange and
secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the
Namibia Stock Exchange and the SIX Swiss Exchange.

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Notes to editors:
Anglo American is a leading global mining company and our products are the essential ingredients in
almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad
range of future development options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions
of consumers. With our people at the heart of our business, we use innovative practices and the latest
technologies to discover new resources and to mine, process, move and market our products to our
customers – safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium
quality iron ore and steelmaking coal, and nickel – with crop nutrients in development – we are
committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining
Plan commits us to a series of stretching goals to ensure we work towards a healthy environment,
creating thriving communities and building trust as a corporate leader. We work together with our
business partners and diverse stakeholders to unlock enduring value from precious natural resources for
the benefit of the communities and countries in which we operate, for society as a whole, and for our
shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Forward-looking statements:
This document includes forward-looking statements. All statements other than statements of historical facts included
in this document, including, without limitation, those regarding Anglo American’s financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations
(including development plans and objectives relating to Anglo American’s products, production forecasts and Ore
Reserve and Mineral Resource positions) and environmental, social and corporate governance goals and aspirations,
are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American
or industry results to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American’s present and
future business strategies and the environment in which Anglo American will operate in the future. Important factors
that could cause Anglo American’s actual results, performance or achievements to differ materially from those in the
forward-looking statements include, among others, levels of actual production during any period, levels of global
demand and commodity market prices, mineral resource exploration and development capabilities, recovery rates
and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory proceedings, the availability of mining and
processing equipment, the ability to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices and operating costs, the availability
of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the
world, the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to
permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American’s assets and
changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo
American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo
American’s most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such
risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American expressly disclaims any obligation or
undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the
Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities
exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-
looking statement contained herein to reflect any change in Anglo American’s expectations with regard thereto or
any change in events, conditions or circumstances on which any such statement is based.

Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will
necessarily match or exceed its historical published earnings per share. Certain statistical and other information
about Anglo American included in this document is sourced from publicly available third party sources. As such it has
not been independently verified and presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in
respect of, such information.

Legal Entity Identifier: 549300S9XF92D1X8ME43