GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955

Baar, Switzerland
5 December 2022


Glencore reaches agreement with the Democratic
Republic of Congo over past conduct
Glencore has reached an agreement with the Democratic Republic of Congo (“DRC”)
covering all present and future claims arising from any alleged acts of corruption by the
Glencore Group in the DRC between 2007 and 2018 (“Agreement”). This includes activities
in certain Group businesses that have been the subject of various investigations by,
amongst others, the United States Department of Justice (“DOJ”) and the DRC’s National
Financial Intelligence Unit and Ministry of Justice.

Under the Agreement, Glencore International AG, on behalf of its Congolese-associated
companies, will pay the DRC US$180 million and will continue to implement in the DRC
the Ethics and Compliance Programme the Company committed to continue to
implement in its resolution with the DOJ. The Agreement is governed by Congolese law
and the only admissions made are in respect of the conduct already acknowledged in
Glencore’s resolution with the DOJ.

In a statement, Mr Kalidas Madhavpeddi, Chairman of Glencore said:

“Glencore is a long-standing investor in the DRC and is pleased to have reached this
Agreement to address the consequences of its past conduct. Glencore has actively
promoted its Ethics and Compliance Programme in the DRC in recent years and looks
forward to continuing to work with the DRC authorities and other stakeholders to
facilitate good governance and ethical business practices in the country.”

As stated in its 24 May 2022 announcement of coordinated resolutions with US, UK and
Brazilian authorities, starting before the Company knew of the DOJ’s investigations,
Glencore has invested substantial resources towards developing a best-in-class Ethics
and Compliance Programme. The Company has a refreshed Board and management
team, including in its DRC operations, who are dedicated to fostering a culture of integrity,
responsibility and transparency.

Further details on Glencore’s compliance initiatives can be found in the presentation and
Ethics and Compliance report available here.




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For further information please contact:
 Investors
 Martin Fewings               t: +41 41 709 28 80        m: +41 79 737 56 42       martin.fewings@glencore.com

 Media
 Charles Watenphul            t: +41 41 709 24 62        m: +41 79 904 33 20       charles.watenphul@glencore.com


www.glencore.com

Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and
marketer of more than 60 responsibly-sourced commodities that advance everyday life. Through a network
of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and
distribute the commodities that enable decarbonisation while meeting the energy needs of today.
Glencore companies employ around 135,000 people, including contractors. With a strong footprint in over 35
countries in both established and emerging regions for natural resources, our marketing and industrial
activities are supported by a global network of more than 40 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers
and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris
Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021, we increased
our medium-term emission reduction target to a 50% reduction by 2035 on 2019 levels and introduced a new
short-term target of a 15% reduction by 2026 on 2019 levels.


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Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this
document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore
plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any
other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to
members of the Group or to those who work for them. These expressions are also used where no useful purpose is served
by identifying the particular company or companies.


Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited