# EDGAR Filing Document

**Accession Number:** 0001973832
**File Stem:** 0001973832-26-000009
**Filing Date:** 2026-2
**Character Count:** 587589
**Document Hash:** bfe6f0269df671a6cc61cef00458a451
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001973832-26-000009.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001973832-26-000009

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AngloGold Ashanti PLC
- **CENTRAL INDEX KEY:** 0001973832
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41815
- **FILM NUMBER:** 26656569

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** THIRD FLOOR, HOBHOUSE COURT
- **STREET 2:** SUFFOLK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
- **ZIP:** SW1Y 4HH
- **BUSINESS PHONE:** 44 0 203 968 3323

**MAIL ADDRESS:**
- **STREET 1:** 6363 S. FIDDLERS GREEN CIRCLE
- **STREET 2:** SUITE 1000
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AngloGold Ashanti (UK) Ltd
- **DATE OF NAME CHANGE:** 20230414

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16 UNDER**

**THE SECURITIES EXCHANGE ACT OF 1934**

For the month of February 2026

Commission File Number: 001-41815

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti plc&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

(Translation of registrant's name into English)

Third Floor, Hobhouse Court, Suffolk Street

London SW1Y 4HH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>United Kingdom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

6363 S. Fiddlers Green Circle, Suite 1000

Greenwood Village, CO 80111

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>United States of America&nbsp;&nbsp;&nbsp;&nbsp;</u> 

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F

or Form 40-F.

**Form 20-F <u>☒</u>** Form 40-F ☐

Enclosure: **AngloGold Ashanti Earnings Release for the Three Months and Year Ended 31 December** 

**2025**

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>2</sub> | ![text.jpg](text.jpg) |

---

![q42025reportbannerimagepla.jpg](q42025reportbannerimagepla.jpg)

**AngloGold Ashanti free cash flow\* triples to record $2.9bn in 2025,** <br>**as Adjusted EBITDA\* more than doubles to $6.3bn**<br>**• Gold production +16% • Total cash costs\* and AISC\* flat in real terms**<br>**• Adjusted net cash\* of $879m • Q4 interim dividend of $875m, or 173cps**<br>**• Total dividends declared for 2025 of $1.8bn, or 357cps**<br>

**London, Denver, Johannesburg, 20 February 2026** –

AngloGold Ashanti plc's<sup>(2)</sup> ("AngloGold Ashanti", "AGA", the

"Company" or the "Group") delivered record free cash flow\*

of $2.9bn in 2025 on strong production growth, continued

cost discipline and a higher average gold price received per

ounce\*. The Company announced an interim dividend of

$875m for Q4 2025, taking the total payout declared for

2025 to $1.8bn, the highest ever.

AngloGold Ashanti again achieved guidance on gold

production and sustaining capital expenditure\*, as it

continues to build a track record of reliability and resilience

from its portfolio of ten operating assets across three

continents.

*"We continued to focus on safety, operational excellence* 

*and consistency of execution. This allowed us once again to* 

*safely meet production guidance, control costs better than* 

*most of the industry and consequently deliver record* 

*earnings and dividends"* said CEO Alberto Calderon. *"We* 

*delivered growth and kept costs flat in real terms, which* 

*translated into record earnings, cash flow and dividends."*

Total cash costs per ounce\* for the Group<sup>(1)(2)</sup> of $1,242/oz in

2025, up 7% year-on-year primarily due to higher royalty

costs ($67/oz) driven by an average gold price received per

ounce\* of $3,468/oz. Despite this increase, the Company

demonstrated another disciplined performance for the year.

Total cash costs per ounce\* for managed operations<sup>(1)(2)</sup>

were flat year on year in real terms.

Our portfolio optimisation through acquisitions and

divestitures has continued to add value for our shareholders.

The acquisition of Centamin is proving to be a great addition

to our portfolio. In Nevada, we complemented our

exploration findings with three acquisitions over the last few

years, enabling us to create one of the most exciting new

gold projects in the United States. We have also been

disciplined in selling non-core assets to improve focus on our

core portfolio, including the ABC and Doropo projects in Côte

d'Ivoire, and most recently Serra Grande (MSG) in Brazil.

The Company delivered on key strategic initiatives: capturing

synergies and Sukari's integration into the portfolio; delivery

of Obuasi's ramp-up schedule; a more competitive dividend

policy with a quarterly payout schedule; and admission to the

Russell equity indexes, for greater liquidity and visibility

among US investors.

At 31 December 2025, total Group gold Mineral Reserve

was 36.5Moz, which represents a 17% increase from

31.2Moz at 31 December 2024. At 31 December 2025, total

Group gold Measured and Indicated Mineral Resource was

68.0Moz and total Group gold Inferred Mineral Resource

was 49.3Moz.

**Record safety performance**

The Total Recordable Injury Frequency Rate ("TRIFR") at the

Company's managed operations<sup>(1)(2)</sup> improved from 0.98

injuries per million hours worked in 2024 to 0.97 injuries per

million hours worked in 2025, the lowest level in AngloGold

Ashanti's history and well below the member average of the

International Council on Metals and Minerals (ICMM) of 2.29

injuries per million hours worked in 2024.

**Operating and financial review**

Gold production for the Group<sup>(1)(2)(3)</sup> increased 16% year-on-

year to 3.1Moz in 2025 from 2.7Moz in 2024, mainly

reflecting the first full-year production contribution from

Sukari and improved operational performance at certain

assets in the portfolio. The average gold price received per

ounce\*<sup>(1)(2)</sup> rose 45% year-on-year to $3,468/oz in 2025,

from $2,394/oz in 2024.

Higher revenues translated directly into record cash flow and

earnings, supported by continued focus on operational

efficiency, working capital discipline and cost leadership.

Adjusted EBITDA\* increased 129% year-on-year to a record

$6.3bn in 2025 (from $2.7bn in 2024), while free cash flow\*

rose 204% to $2.9bn in 2025 (from $1.0bn in 2024).

Total cash costs per ounce\* for the Group<sup>(1)(2)</sup>increased 7%

year-on-year in 2025 broadly in line with aggregate inflation

of about 3% across the portfolio, and materially higher

royalties driven by the higher gold price, which resulted in an

estimated 6% increase in total cash costs per ounce\*.

The 45% increase in the average gold price received per

ounce\*<sup>(1)(2)</sup> in 2025 compared to 2024 translated into a 143%

rise in net cash flow from operating activities.

**Cash flow supports strong capital allocation**

The Company generated record free cash flow\* of $2.9bn for

the full year, as AngloGold Ashanti continued to translate

higher margins into cash generation.

Adjusted EBITDA\* was a record $6.3bn in 2025, while

headline earnings<sup>(4)</sup> increased 186% year-on-year to $2.7bn

for the year (from $1.0bn in 2024), reflecting higher realised

gold prices, production growth and disciplined cost control.

An interim dividend of $875m, or 173 US cents per share,

was declared for Q4 2025. The payout comprises 50% of

free cash flow\* and an additional amount of $350m,

providing additional direct returns to shareholders and

highlighting continued confidence in the outlook for operating

performance and free cash flow\* generation in 2026. This

takes the total payout for 2025 to a record $1.8bn, or 357 US

cents per share. This represents 62% of free cash flow\* for

2025. ---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>3</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **2025 I** GROUP **PERFORMANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

The balance sheet ended the year in its strongest position

ever, even after record dividend payments, with an Adjusted

net cash\* position of $879m at 31 December 2025,

compared with Adjusted net debt\* of $567m at the end of

2024. Total liquidity was approximately $4.4bn at year end,

including cash and cash equivalents of approximately

$2.9bn.

**Payments to host Governments**

AngloGold Ashanti's strong performance in 2025 translated

into tangible benefits for a wide range of stakeholders, who

realised a significant increase in benefits from the improved

operational result and the higher gold price. During the year,

$2.66bn was paid by the Company to host governments in

various forms including direct and indirect taxes, royalties,

dividends, profit share arrangements and taxes on employee

payrolls. This was more than double the amount paid in

2024, reinforcing the Company's role as a long-term

development partner.

**Momentum continued at managed operations**<sup>(1)(2)</sup>

Operational performance across the portfolio remained

resilient, supported by improved execution, mine plan

delivery and continued focus on safety and cost discipline.

Gold production for the Group<sup>(1)(2)(3)</sup> was 3.1Moz for 2025

compared to 2.7Moz in 2024. Gold production for the year

was mainly driven by year-on-year production improvements

at Obuasi (+20%), Siguiri (+6%), Geita (+2%), Cerro

Vanguardia (+2%) and AGA Mineração (Cuiabá) (+1%), as

well as the first full-year contribution from Sukari (500koz).

These increases were partly offset by lower gold production

contributions from Iduapriem (-16%), Sunrise Dam (-10%),

Serra Grande (-34%), Tropicana (-3%) and Kibali (-2%).

The solid production performance from AngloGold Ashanti's

managed operations<sup>(1)(2)</sup>, alongside an ongoing focus on site

expenditures and implementation of the Full Asset Potential

programme, helped partially offset inflationary pressures and

materially higher royalty payments.

Total cash costs per ounce\* for the Group<sup>(1)(2)</sup> rose 7% year-

on-year to $1,242/oz in 2025, compared with $1,157/oz in

2024. All-in sustaining costs per ounce\* ("AISC") for the

Group<sup>(1)(2)</sup> rose 6% year-on-year to $1,709/oz in 2025,

compared with $1,611/oz in 2024, mainly due to higher total

cash costs per ounce\* and increased sustaining capital

expenditure\*.

Total cash costs per ounce\* for managed operations<sup>(1)(2)</sup> rose

5% year-on-year to $1,252/oz in 2025, compared with

$1,187/oz in 2024. AISC per ounce\* for managed

operations<sup>(1)(2)</sup> rose 5% year-on-year to $1,751/oz in 2025,

compared with $1,672/oz in 2024.

Total capital expenditure for the Group<sup>(1)(2)</sup> rose to $1.6bn in

2025, up 32% year-on-year from $1.2bn in 2024, with

sustaining capital expenditure\* increasing 22% year-on-year

to $1,141m, from $932m in 2024. The increase in sustaining

capital expenditure\* reflects the first full-year inclusion of

Sukari and ongoing investment to support asset integrity and

long-term operational resilience, in line with strategic

priorities. Non-sustaining capital expenditure\* was $459m in

2025, up 62% from $283m in 2024.

**Advancing Arthur Gold Project studies**<sup>(5)</sup>

The Company is declaring a first-time Merlin gold Mineral

Reserve for the Arthur Gold Project totalling 4.9Moz. The

completed pre-feasibility study supports an initial nine-year

mine life with an estimated average annual production of

approximately 500,000oz, with AISC per ounce\* estimated at

$954/oz (real terms). Project capital expenditure (real terms)

is forecast at $3.6bn. The Arthur Gold Project integrates the

Merlin and Silicon deposits into a large-scale, continuous

mineralised system, demonstrating the possibility for a Tier

One gold asset with strong economics and potential for

further growth in southern Nevada's Beatty Mining District.

**Continued exploration success**

AngloGold Ashanti continued to invest in exploration and

Mineral Resource to Mineral Reserve conversion to underpin

long-term value creation. The Company has achieved

significant exploration success over the past five years,

adding 23.1Moz to its gold Mineral Reserve including

acquisitions and before accounting for depletion.

In 2025, for the ninth consecutive year, AngloGold Ashanti

has recorded an annual increase in gold Mineral Reserve

before depletion (for the continuing operations), including a

first time Mineral Reserve declaration at Merlin of 4.9Moz

and a notable increase of 1.3Moz pre-depletion at Geita.

![a01iduapriem_v10.jpg](a01iduapriem_v10.jpg)

*Iduapriem, Ghana*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>4</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **2025 I** GROUP **PERFORMANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

At 31 December 2025, total Group gold Mineral Reserve

was 36.5Moz, total Group gold Measured and Indicated

Mineral Resource was 68.0Moz and total Group gold

Inferred Mineral Resource was 49.3Moz.

**Updated outlook reflecting higher royalties**<sup>(6)</sup>

The Company is pleased to provide updated 2026 guidance,

following the divestment of Serra Grande from the portfolio.

The 2026 outlook includes estimated non-sustaining capital

expenditure on the definitive feasibility study for the Arthur

Gold Project ($111m), estimated early expenditure for North

Bullfrog ($32m), estimated Kibali Pamoa waste stripping and

tailings storage facilities ("TSFs") ($134m attributable),

estimated enhanced TSFs at Obuasi and Siguiri to facilitate

production growth and life extensions in coming years

($131m) and estimated waste stripping at Sukari ($126m) to

provide flexibility for future organic growth projects.

Gold production for the Group<sup>(1)(2)(3)</sup> is forecast to range

between 2.80Moz and 3.17Moz in 2026.

Total cash cost per ounce\* for the Group<sup>(1)(2)</sup> is forecast to

range between $1,315/oz and $1,430/oz. The midpoint of

these range represents an approximate 11% increase (or

$130/oz) compared to 2025, with approximately 50% of the

increase reflecting higher royalty costs and 50% of the

increase reflecting cost inflation. AISC per ounce\* for the

Group<sup>(1)(2)</sup> is forecast to range between $1,780/oz and

$1,990/oz in 2026.

<sup>(</sup><sup>1)</sup>*The term "managed operations" refers to subsidiaries managed by* 

*AngloGold Ashanti and included in its consolidated reporting, while the* 

*term "non-managed joint ventures" (i.e., Kibali) refers to equity-accounted* 

*joint ventures that are reported based on AngloGold Ashanti's share of* 

*attributable earnings and are not managed by AngloGold Ashanti.* 

*Managed operations are reported on a consolidated basis. Non-managed* 

*joint ventures are reported on an attributable basis.* 

<sup>(2)</sup> *On 22 November 2024, the acquisition of Centamin plc ("Centamin") was* 

*successfully completed. Centamin has been included from the effective* 

*date of the acquisition.*

<sup>(3)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.*

<sup>(4)</sup> *The financial measures "headline earnings (loss)" and "headline earnings* 

*(loss) per share" are not calculated in accordance with IFRS® Accounting* 

*Standards, but in accordance with the Headline Earnings Circular 1/2023,* 

*issued by the South African Institute of Chartered Accountants (SAICA),* 

*at the request of the Johannesburg Stock Exchange Limited (JSE). These* 

*measures are required to be disclosed by the JSE Listings Requirements* 

*and therefore do not constitute Non-GAAP financial measures for* 

*purposes of the rules and regulations of the US Securities and Exchange* 

*Commission ("SEC") applicable to the use and disclosure of Non-GAAP* 

*financial measures.*

<sup>(5)</sup> *The Pre-Feasibility Technical Report Summary for the Arthur Gold Project* 

*will be filed as an exhibit to the Company's annual report on Form 20-F* 

*for the financial year ended 31 December 2025 to be filed with the SEC.* 

*A Tier One asset is generally defined by AngloGold Ashanti as a large,* 

*long-life, low-cost operation or project, located in a stable and supportive* 

*jurisdiction, capable of generating strong free cash flow\* through* 

*commodity cycles and delivering sustained value to shareholders and* 

*host countries. In addition, refer to the disclaimers below "Corporate* 

*update—Arthur Gold Project pre-feasibility study".*

<sup>(6)</sup> *Refer to the disclaimer below the heading "Guidance" herein for further* 

*information.*

*\*Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

![a12geita_v4.jpg](a12geita_v4.jpg)

*Geita, Tanzania*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>5</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **2025 I** GROUP **PERFORMANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| FINANCIAL RESULTS | **Quarter** | Quarter |  | **Year** | Year |  |
| FINANCIAL RESULTS | **ended** | ended | % | **ended** | ended | % |
| FINANCIAL RESULTS | **Dec** | Dec | Variance | **Dec** | Dec | Variance |
| *US Dollar millions, except as otherwise noted* | **2025** | 2024 |  | **2025** | 2024 |  |
| Average gold price received\*<sup>(1)(2)</sup> ($/oz) | 4171 | 2653 | 57% | 3468 | 2394 | 45% |
| Adjusted EBITDA\* ($m) | 2175 | 884 | 146% | 6294 | 2747 | 129% |
| Headline earnings<sup>(4)</sup>($m) | 967 | 405 | 139% | 2725 | 954 | 186% |
| Capital expenditure - Group<sup>(1)(2)</sup> ($m) | 495 | 369 | 34% | 1600 | 1215 | 32% |
| Net cash flow from operating activities ($m) | 1622 | 690 | 135% | 4784 | 1968 | 143% |
| Free cash flow\* ($m) | 1050 | 302 | 248% | 2908 | 956 | 204% |
| Adjusted net debt (cash)\* ($m) | (879) | 567 | (255)% | (879) | 567 | (255)% |

---

FINANCIAL HIGHLIGHTS<br>•Adjusted EBITDA\* rose by 129% year-on-year to $6,294m for 2025, compared to $2,747m for 2024, mainly due to <br>increased production volumes, effective cost management and supported by the higher average gold price received per <br>ounce\* <br>•Free cash flow\* rose by 204% to $2,908m in 2025, from $956m in 2024<br>•Headline earnings<sup>(4)</sup> rose 186% year-on-year to $2,725m in 2025, from $954m in 2024; headline earnings<sup>(4)</sup> per share up <br>143% year-on-year to 537 US cents per share in 2025, from 221 US cents per share in 2024<br>•Total capital expenditure for the Group<sup>(1)(2)</sup>, which included $262m at Sukari, increased 32% year-on-year to $1,600m in <br>2025, from $1,215m in 2024, including $1,141m in sustaining capital expenditure\* and $459m in non-sustaining capital <br>expenditure\*, reflecting Sukari's inclusion and reinvestment across the portfolio<br>•Adjusted net debt\* ended in a cash position of $879m at 31 December 2025<br>•Interim dividend of 173 US cents/share declared for Q4 2025 <br>

*\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>6</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **2025 I** GROUP **PERFORMANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| OPERATING RESULTS | **Quarter** | Quarter |  | **Year** | Year |  |
| OPERATING RESULTS | **ended** | ended | % | **ended** | ended | % |
| OPERATING RESULTS | **Dec** | Dec | Variance | **Dec** | Dec | Variance |
| *US Dollar millions, except as otherwise noted* | **2025** | 2024 |  | **2025** | 2024 |  |
| Gold production - Group<sup>(1)(2)(3)</sup> (koz) | 799 | 750 | 7% | 3091 | 2661 | 16% |
| Gold production - Managed operations<sup>(1)(2)(3)</sup>(koz) | 720 | 670 | 7% | 2788 | 2352 | 19% |
| Total cash costs\* - Group<sup>(1)(2)</sup> ($/oz) | 1292 | 1144 | 13% | 1242 | 1157 | 7% |
| Total cash costs\* - Managed operations<sup>(1)(2)</sup>($/oz) | 1307 | 1165 | 12% | 1252 | 1187 | 5% |
| AISC\* - Group<sup>(1)(2)</sup> ($/oz) | 1805 | 1647 | 10% | 1709 | 1611 | 6% |
| AISC\* - Managed operations<sup>(1)(2)</sup> ($/oz) | 1881 | 1702 | 11% | 1751 | 1672 | 5% |

---

OPERATIONAL HIGHLIGHTS<br>•TRIFR at managed operations was 0.97 injuries per million hours worked in 2025, well below industry benchmarks<br>•Gold production for the Group<sup>(1)(2)(3)</sup> increased by 16% year-on-year in 2025, reaching 3,091koz compared to 2,661koz <br>in 2024 <br>•Sukari contributed 500,000oz in gold production for 2025, cementing itself as a Tier 1 asset for the Group<br>•Obuasi delivered a strong 266,000oz in 2025, a 20% year-on-year increase, as underground mined tonnes and grade <br>improved, together with an uplift in plant recoveries, while Siguiri also grew production by 6% year-on-year <br>•Gold production from managed operations<sup>(1)(2)(3)</sup> rose 19% year-on-year to 2,788koz in 2025, up from 2,352koz in 2024, <br>supported by consistent production delivery from Sukari, Obuasi, Siguiri, Geita, Cerro Vanguardia and Cuiabá <br>•Australia's gold production was lower year-on-year in 2025, in line with internal expectations<br>•Total cash costs per ounce\* for the Group<sup>(1)(2)</sup> increased 7% to $1,242/oz in 2025, from $1,157/oz in 2024; AISC per <br>ounce\* for the Group<sup>(1)(2)</sup>rose 6% to $1,709/oz in 2025, from $1,611/oz in 2024<br>•Total cash costs per ounce\* from managed operations<sup>(1)(2)</sup> increased 5% year-on-year to $1,252/oz in 2025, from <br>$1,187/oz in 2024 mainly driven by cost inflation reflecting increases in labour, consumable stores and mining contractor <br>costs, and higher gold royalty costs<br>•AISC per ounce\* from managed operations<sup>(1)(2)</sup> rose 5% year-on-year to $1,751/oz in 2025, from $1,672/oz in 2024, <br>reflecting higher total cash costs per ounce\* and higher sustaining capital expenditure\* reinvestment<br>•AngloGold Ashanti achieved full-year 2025 guidance for gold production. AISC per ounce\* and total cash costs per <br>ounce\* were marginally above guidance due to higher royalty costs related to the higher gold price<br>

*\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>7</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL AND OPERATING KEY STATISTICS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| KEY STATISTICS |  | **Quarter** | Quarter | **Year** | Year |
| KEY STATISTICS |  | **ended** | ended | **ended** | ended |
| KEY STATISTICS |  | **Dec** | Dec | **Dec** | Dec |
| *US Dollar millions, except as otherwise noted* |  | **2025** | 2024 | **2025** | 2024 |
| **Operating review** |  |  |  |  |  |
| Gold |  |  |  |  |  |
| Produced - Group<sup>(1)(2)(3)</sup> | - oz (000) | 799 | 750 | 3091 | 2661 |
| Produced - Managed operations<sup>(1)(2)(3)</sup> | - oz (000) | 720 | 670 | 2788 | 2352 |
| Produced - Non-managed joint ventures<sup>(1)</sup> | - oz (000) | 79 | 80 | 303 | 309 |
| Sold - Group<sup>(1)(2)(3)</sup> | - oz (000) | 803 | 725 | 3105 | 2679 |
| Sold - Managed operations<sup>(1)(2)(3)</sup> | - oz (000) | 725 | 647 | 2807 | 2370 |
| Sold - Non-managed joint ventures<sup>(1)</sup> | - oz (000) | 78 | 78 | 298 | 309 |
| **Financial review** |  |  |  |  |  |
| Gold income | - $m | 3023 | 1716 | 9730 | 5673 |
| Cost of sales - Group<sup>(1)(2)</sup> | - $m | 1521 | 1144 | 5454 | 4106 |
| Cost of sales - Managed operations<sup>(1)(2)</sup> | - $m | 1425 | 1043 | 5022 | 3726 |
| Cost of sales - Non-managed joint ventures<sup>(1)</sup> | - $m | 96 | 101 | 432 | 380 |
| Total operating costs | - $m | 986 | 815 | 3655 | 2911 |
| Gross profit | - $m | 1643 | 707 | 4871 | 2067 |
| Average gold price received per ounce\* - Group<sup>(1)(2)</sup> | - $/oz | 4171 | 2653 | 3468 | 2394 |
| Average gold price received per ounce\* - Managed operations<sup>(1)(2)</sup> | - $/oz | 4172 | 2652 | 3466 | 2393 |
| Average gold price received per ounce\* - Non-managed joint ventures<sup>(1)</sup> | - $/oz | 4162 | 2662 | 3483 | 2401 |
| All-in sustaining costs per ounce\* - Group<sup>(1)(2)</sup> | - $/oz | 1805 | 1647 | 1709 | 1611 |
| All-in sustaining costs per ounce\* - Managed operations<sup>(1)(2)</sup> | - $/oz | 1881 | 1702 | 1751 | 1672 |
| All-in sustaining costs per ounce\* - Non-managed joint ventures<sup>(1)</sup> | - $/oz | 1108 | 1188 | 1317 | 1146 |
| Total cash costs per ounce\* - Group<sup>(1)(2)</sup> | - $/oz | 1292 | 1144 | 1242 | 1157 |
| Total cash costs per ounce\* - Managed operations<sup>(1)(2)</sup> | - $/oz | 1307 | 1165 | 1252 | 1187 |
| Total cash costs per ounce\* - Non-managed joint ventures<sup>(1)</sup> | - $/oz | 1156 | 967 | 1148 | 935 |
| Profit before taxation | - $m | 1444 | 698 | 4276 | 1672 |
| Adjusted EBITDA\* | - $m | 2175 | 884 | 6294 | 2747 |
| Total borrowings | - $m | 2258 | 2125 | 2258 | 2125 |
| Adjusted net debt (cash)\* | - $m | (879) | 567 | (879) | 567 |
| Profit attributable to equity shareholders | - $m | 855 | 470 | 2636 | 1004 |
|  | - US cents/share | 168 | 103 | 519 | 233 |
| Headline earnings<sup>(4)</sup> | - $m | 967 | 405 | 2725 | 954 |
|  | - US cents/share | 190 | 89 | 537 | 221 |
| Net cash inflow from operating activities | - $m | 1622 | 690 | 4784 | 1968 |
| Free cash flow\* | - $m | 1050 | 302 | 2908 | 956 |
| Capital expenditure - Group<sup>(1)(2)</sup> | - $m | 495 | 369 | 1600 | 1215 |
| Capital expenditure - Managed operations<sup>(1)(2)</sup> | - $m | 454 | 333 | 1449 | 1090 |
| Capital expenditure - Non-managed joint ventures<sup>(1)</sup> | - $m | 41 | 36 | 151 | 125 |
| <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  | <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  | <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  | <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  | <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  | <sup>(1)</sup>*The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint* <br>*ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed* <br>*by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.*  |
| <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* | <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* | <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* | <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* | <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* | <sup>(2)</sup>*On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.* |
| <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(3)</sup>*Includes gold concentrate from the Cuiabá mine sold to third parties.* |
| <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* | <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* | <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* | <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* | <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* | <sup>(4)</sup>*The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS*<sup>®</sup>*Accounting Standards, but in* <br>*accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg* <br>*Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial* <br>*measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP* <br>*financial measures.* |
| *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* |
| *$ represents US Dollar, unless otherwise stated.* |  |  |  |  |  |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |

---

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>8</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTERLY REVIEW

**Gold production**

Group gold production for Q4 2025 totalled 799,000oz, a 7%

increase from 750,000oz in Q4 2024. This strong year-on-

year growth was mainly the result of another full-quarter

production contribution from Sukari, combined with solid gold

production increases at Obuasi (+12koz), Siguiri (+11koz)

and Cuiabá (+2koz). The Group experienced lower gold

production at Geita (-23koz), mainly due to lower mined

grades from underground operations, and lower plant

recoveries from poor grinding and underperformance of the

gravity gold circuit; at Serra Grande (-11koz), which was sold

on 1 December 2025; at Sunrise Dam (-8koz), mainly due to

lower recovered grade resulting from mine plan changes and

lower loader and stope availability; at Tropicana (-7koz),

mainly due to a higher proportion of lower grade stockpile

ore processed; and at Cerro Vanguardia (-5koz), mainly due

to lower tonnes treated from open pit operations. Gold

production at Iduapriem, and Kibali remained largely

unchanged year-on-year.

Group gold production for 2025 totalled 3,091,000oz, a 16%

increase from 2,661,000oz in 2024. This strong year-on-year

growth was mainly driven by the addition of Sukari

production into the portfolio, and production improvements at

Obuasi (+45koz), Siguiri (+16koz), Geita (+9koz), Cerro

Vanguardia (+4koz) and Cuiabá (+2koz). The Group

experienced lower gold production at Iduapriem (-38koz),

Sunrise Dam (-27koz), Serra Grande (-27koz), Tropicana

(-8koz) and Kibali (-6koz).

Obuasi delivered significant improvements for both the

quarter and year, with gold production increasing by 20% in

Q4 2025 compared to Q4 2024, as well as a 20% year-on-

year increase in 2025 compared to 2024. These increases

were mainly driven by an increase in tonnes treated from

underground operations; overcoming the ventilation and

equipment constraints experienced in 2024; and an increase

in recovered grades due to a combination of higher

underground feed grades, together with the commissioning

and optimisation of a second flash cell.

Siguiri also delivered a solid Q4 2025 and 2025 full year,

with gold production increasing by 15% in Q4 2025

compared to Q4 2024, benefiting from an increase in

recovered grade, with higher plant recoveries due to

improved carbon management, and an increase in tonnes

treated due to higher mill run time.

**Costs**

Total cash costs per ounce\* for the Group increased by 13%

year-on-year to $1,292/oz in Q4 2025, compared to $1,144/

oz in Q4 2024. The increase was largely driven by higher

royalty costs linked to the stronger average gold price

received per ounce\*, which resulted in an estimated 8%

increase in total cash costs per ounce\*. In addition, costs

increased as a result of an estimated 4% rise in inflation

mainly due to increases in labour, consumable stores and

mining contractor costs, reflecting consumer price index

("CPI") movements in the jurisdictions where the Group

operates.

Managed operations recorded a 12% year-on-year increase

in total cash costs per ounce\*, rising from $1,165/oz in Q4

2024 to $1,307/oz in Q4 2025. In addition to the impact of

the higher gold royalties, the increase reflects lower gold

production at Geita, Sunrise Dam, Tropicana, Cerro

Vanguardia and Serra Grande, as well as increases in

labour, consumable stores and contractor costs at Siguiri

and Obuasi. This increase was partially offset by the addition

of Sukari production to the portfolio, and stronger production

performances at Siguiri, Obuasi and Cuiabá.

Total cash costs per ounce\* at the Group's non-managed

joint ventures increased by 20% year-on-year to $1,156/oz in

Q4 2025, compared to $967/oz in Q4 2024. The increase

was primarily driven by higher royalties and increases in

labour, consumable stores and mining contractor costs at

Kibali year-on-year.

All-in sustaining costs per ounce\* ("AISC") for the Group

increased by 10% year-on-year to $1,805/oz in Q4 2025,

compared to $1,647/oz in Q4 2024. At the managed

operations, AISC per ounce\* increased by 11% to $1,881/oz

in Q4 2025, up from $1,702/oz in Q4 2024, reflecting higher

total cash costs per ounce\* and higher year-on-year

sustaining capital expenditure\*. AISC per ounce\* at the non-

managed joint ventures decreased by 7% to $1,108/oz in Q4

2025, from $1,188/oz in Q4 2024, primarily due to a year-on-

year decrease in rehabilitation and other expenditure at

Kibali.

Total cash costs per ounce\* for the Group increased by 7%

year-on-year to $1,242/oz for 2025, compared to $1,157/ oz

in 2024. This increase was primarily driven by higher royalty

costs linked to the stronger average gold price received per

ounce\*, which resulted in an estimated 6% increase in total

cash costs per ounce\*, and an estimated 3% rise in inflation

driven by higher labour, stores and mining contractor costs.

These impacts were partially offset by a favourable

cumulative foreign currency exchange rate against the US

dollar, which resulted in a 2% cost benefit.

Managed operations reported a 5% year-on-year increase in

total cash costs per ounce\*, from $1,187/oz in 2024 to

$1,252/oz in 2025. This increase was primarily driven by

higher gold royalty costs and higher labour, consumable

stores and mining contractor costs, including operational

challenges at Iduapriem, Sunrise Dam and Serra Grande.

This increase was partially offset by the inclusion of Sukari

production into the portfolio and strong operational

performances at Obuasi, Siguiri, Geita, Cerro Vanguardia

and Cuiabá.

Total cash costs per ounce\* at non-managed joint ventures

increased by 23% year-on-year to $1,148/oz for 2025, up

from $935/oz in 2024, primarily due to year-on-year

increases in labour, consumable stores and mining

contractor costs and higher gold royalties at Kibali.

AISC per ounce\* for the Group increased by 6% year-on-

year to $1,709/oz in 2025, from $1,611/oz in 2024. For

managed operations, AISC per ounce\* increased by 5% to

$1,751/oz for 2025, up from $1,672/oz in 2024, reflecting the

impact of higher total cash costs per ounce\*, and higher

sustaining capital expenditure\*, partially offset by the positive

impact of the inclusion of Sukari production in the portfolio.

AISC per ounce\* at non-managed joint ventures increased

by 15% to $1,317/oz for 2025, compared to $1,146/oz for

2024, primarily due to increases in labour, consumable

stores and mining contractor costs and higher sustaining

capital expenditure\*.

**Adjusted EBITDA\*** 

Adjusted earnings before interest, tax, depreciation and

amortisation\* ("Adjusted EBITDA\*") for Q4 2025 increased to

$2,175m, up from $884m in Q4 2024. This strong year-on-

year growth was underpinned by a favourable operating and

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>9</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTERLY REVIEW CONTINUED

market environment, including a higher average gold price

received per ounce\*, increased gold sales volumes, no

losses on non-hedge derivatives and other commodity

contracts, lower costs related to legacy TSFs, lower legal

fees and other provisions, and higher equity earnings from

associates and non-managed joint ventures. These gains

were partially offset by higher total operating costs (mainly

driven by increased royalty expenses and higher costs

related to the inclusion of Sukari for the full quarter), higher

inventory movements, higher corporate and exploration

costs, higher governmental fiscal claims, higher costs

relating to mining contractor rates and no insurance claim

reimbursements in the current period.

Adjusted EBITDA\* for 2025 increased to $6,294m,

compared to $2,747m in 2024. This strong year-on-year

growth was driven by a combination of favourable

operational and market conditions, including a higher

average gold price received per ounce\*, increased gold

sales volumes, no losses on non-hedge derivatives and

other commodity contracts, lower legal fees and higher

equity earnings from associates and non-managed joint

ventures. This increase was partly offset by higher total

operating costs (mainly driven by higher royalty costs and

higher costs related to the full year inclusion of Sukari),

higher inventory movements, higher corporate and

exploration costs, higher costs associated with legacy TSFs,

higher governmental fiscal claims, higher indirect taxes,

higher costs relating to mining contractor rates, higher other

provisions and no insurance claim reimbursements in the

current period.

**Earnings** 

Basic earnings (profit attributable to equity shareholders) for

Q4 2025 were $855m, or 168 US cents per share, compared

to $470m, or 103 US cents per share, in Q4 2024. The

strong year-on-year increase was largely driven by a higher

average gold price received per ounce\*, increased gold

sales volumes, no losses on non-hedge derivatives and

other commodity contracts and higher equity earnings from

associates and non-managed joint ventures. Q4 2025 also

benefited from lower costs related to legacy TSFs as well as

lower legal fees and other provisions.

These positive contributions were partially offset by higher

total operating costs, including increased royalty expenses

and costs associated with the inclusion of Sukari for the full

quarter in the current period, along with higher asset

amortisation, higher inventory movements, higher corporate

and exploration costs, higher finance costs, lower foreign

exchange gains, higher care and maintenance costs in the

current period compared with a credit in the prior-year

period, higher costs relating to mining contractor rates, less

impairment reversals and higher asset impairment in the

current period compared with profits in the prior-year period,

and a higher tax charge.

Basic earnings (profit attributable to equity shareholders) for

2025 were $2,636m, or 519 US cents per share, compared

to $1,004m, or 233 US cents per share, in 2024. This strong

year-on-year growth was primarily driven by a higher

average gold price received per ounce\*, increased gold

sales volumes, and no losses on non-hedge derivatives and

other commodity contracts. Additional contributions came

from lower legal fees, lower care and maintenance costs,

and higher equity earnings from associates and non-

managed joint ventures.

These positive impacts were partially offset by higher total

operating costs, including increased royalty expenses and

the costs associated with the full year inclusion of Sukari in

the current period, alongside higher amortisation of assets,

elevated costs related to legacy TSFs and governmental

fiscal claims, higher costs relating to mining contractor rates,

higher corporate and exploration costs, higher finance costs

and interest relating to the once-off settlement of a tax

liability in Brazil, higher foreign exchange losses, higher

indirect taxes, higher restructure costs and other provisions

in the current period, loss on disposal of the Doropo and

ABC projects in Côte d'Ivoire in the current period, higher

asset impairments, and a higher tax charge.

Headline earnings<sup>‡</sup> for Q4 2025 were $967m, or 190 US

cents per share, compared to $405m, or 89 US cents per

share, in Q4 2024. The increase in headline earnings<sup>‡</sup>

reflects the same key drivers that supported the rise in basic

earnings during Q4 2025. In addition, headline earnings<sup>‡</sup>

excludes impairment reversals/impairments, asset

derecognitions and losses (profits) on disposal of assets and

taxes thereon.

Headline earnings<sup>‡</sup> for 2025 were $2,725m, or 537 US cents

per share, compared to $954m, or 221 US cents per share,

for 2024. The increase in headline earnings<sup>‡</sup> reflects the

same key drivers that supported the rise in basic earnings

during 2025, except for impairment reversals/impairments,

asset derecognitions and losses (profits) on disposal of

assets and taxes thereon which are excluded.

<sup>‡</sup>*The financial measures "headline earnings (loss)" and "headline* 

*earnings (loss) per share" are not calculated in accordance with* 

*IFRS*<sup>®</sup> *Accounting Standards, but in accordance with the* 

*Headline Earnings Circular 1/2023, issued by the South African* 

*Institute of Chartered Accountants (SAICA), at the request of the* 

*Johannesburg Stock Exchange Limited (JSE). These measures* 

*are required to be disclosed by the JSE Listings Requirements* 

*and therefore do not constitute Non-GAAP financial measures* 

*for purposes of the rules and regulations of the SEC applicable* 

*to the use and disclosure of Non-GAAP financial measures.*

**Cash flow** 

Net cash inflow from operating activities reached $1,622m in

Q4 2025, representing a 135% year-on-year increase from

$690m in Q4 2024. This strong performance was

underpinned by a higher average gold price received per

ounce\*, increased gold sales volumes from managed

operations, and higher dividends received from joint

ventures. These gains were partially offset by higher total

operating costs and increased tax payments.

After accounting for capital expenditure, loan repayments

from Kibali, and dividends paid to non-controlling

shareholders, the Company generated a free cash inflow\* of

$1,050m in Q4 2025, compared to $302m in Q4 2024.

Net cash inflow from operating activities was $4,784m for

2025, a 143% increase year-on-year from $1,968m for 2024.

This strong performance was primarily driven by a higher

average gold price received per ounce\*, increased gold

sales volumes from managed operations, and higher

dividends received from joint ventures. These benefits were

partially offset by higher total operating costs and increased

tax payments.

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>10</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTERLY REVIEW CONTINUED

After accounting for capital expenditure, loan repayments

from Kibali, dividends paid to non-controlling shareholders,

the Company generated a free cash inflow\* of $2,908m in

2025, compared to $956m in 2024.

The dividend policy targets a 50% payout of annual free

cash flow\*, subject to maintaining an Adjusted net debt\* to

Adjusted EBITDA\* ratio of 1.0 times. The interim dividend for

Q4 2025, is 173 US cents per share, bringing the total

amount of dividends declared in relation to 2025 to $1.8bn.

During Q4 2025, AngloGold Ashanti received $67m in

dividends and $84m in loan repayments from the Kibali joint

venture, compared to $44m in dividends and $10m in loan

repayments in Q4 2024. The Company's attributable share

of outstanding cash balances awaiting repatriation from the

Democratic Republic of the Congo ("DRC") was $110m at

31 December 2025, down from $119m at 30 September

2025. Free cash flow\* during Q4 2025 was impacted by ongoing

movements in value-added tax ("VAT") recoveries at Geita

and Kibali, foreign exchange controls and export duty-related

restrictions at Cerro Vanguardia ("CVSA"), as well as a tax

liability settlement in Brazil:

• In Tanzania, the net overdue recoverable VAT input credit

balance (after discounting provisions) decreased by

$15m during Q4 2025 to $171m at 31 December 2025,

down from $186m at 30 September 2025. This decrease

reflects the application of $41m in verified VAT claims

against corporate tax liabilities and foreign exchange

gains of $2m , partially offset by new claims submitted

during the period of $23m, and a decrease in the

discounting provision of $5m. AngloGold Ashanti expects

to continue offsetting eligible VAT claims against

corporate taxes as part of its recovery strategy.

• In the DRC, the Company's attributable share of the net

recoverable VAT balance (including fuel duties and after

discounting provisions) decreased by $27m during

Q4 2025 to $63m at 31 December 2025, down from

$90m at 30 September 2025. This decrease was driven

by $57m of VAT refunds received, partially offset by $7m

in new claims submitted, $12m in revaluation

adjustments and $11m decrease in the discounting

provision.

• In Argentina, CVSA's cash balance decreased by $12m<sup>#</sup>

during Q4 2025 to $97m<sup>#</sup>at 31 December 2025, down

from $109m<sup>#</sup> at 30 September 2025. The cash remains

available for CVSA's operational and exploration

requirements.

During Q2 2025, CVSA approved its 2024 local financial

statements and declared dividends attributable to the

2024 financial year to AngloGold Ashanti's offshore

($222m<sup>#</sup>) and onshore ($23m<sup>#</sup>) investment holding

companies. CVSA paid all the offshore dividends to

AngloGold Ashanti ($35m during Q2 2025, $140m during

Q3 2025 and $47m during Q4 2025), by utilising a

currency swap mechanism to secure the required US

dollars. Regarding onshore payments, CVSA paid $5m

during H2 2025 and expects to continue with onshore

dividend payments, subject to cash availability, in order

to pay the remaining amount of dividends declared.

<sup>#</sup>*US dollar equivalent and at prevailing exchange rates.*

• In Brazil there was a once-off settlement of a tax liability

in Q4 2025 relating to the 2020 to 2024 financial years of

$130m as a result of the misclassification of certain costs

in those years.<sup>†</sup>

<sup>†</sup>*As previously reported in the Company's Q3 2025 Earnings* 

*Release, selected line items in its consolidated statement of* 

*financial position as at 31 December 2024 have been revised to* 

*correct immaterial prior period errors relating to the classification* 

*of deferred and current taxation assets and liabilities.*

![a02cuiba_v12.jpg](a02cuiba_v12.jpg)

*AGA Mineração, Cuiabá, Brazil*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>11</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTERLY REVIEW CONTINUED

---

| | | | | |
|:---|:---|:---|:---|:---|
| FREE CASH FLOW\* | **Quarter** | Quarter | **Year** | Year |
| FREE CASH FLOW\* | **ended** | ended | **ended** | ended |
| FREE CASH FLOW\* | **Dec** | Dec | **Dec** | Dec |
| *US Dollar millions, except as otherwise noted* | **2025** | 2024 | **2025** | 2024 |
| **Net cash flow from operating activities** | 1622 | 690 | 4784 | 1968 |
| Repayment of loans advanced to joint ventures | 84 | 10 | 161 | 149 |
| Dividends paid to non-controlling interests | (202) | (65) | (588) | (71) |
| **Operating cash flow** | 1504 | 635 | 4357 | 2046 |
| Capital expenditure on tangible and intangible assets | (454) | (333) | (1449) | (1090) |
| **Free cash flow\*** | 1050 | 302 | 2908 | 956 |

---

<sup>\*</sup>*Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

*Rounding of figures may result in computational discrepancies.*

**Balance sheet and liquidity**

During Q4 2025, Adjusted net debt\* ended in a cash

position, despite the payment of $670m in dividends during

Q4 2025. Adjusted net cash\* at 31 December 2025 was

$879m, compared to Adjusted net debt\* of $567m at

31 December 2024.

At 31 December 2025, the balance sheet remained robust,

supported by significant available liquidity. This included the

undrawn $1.4bn multi-currency revolving credit facility

("RCF"), the undrawn $65m Siguiri RCF and $5m undrawn

on the Geita multi-currency RCF. AngloGold Ashanti held

approximately $2.9bn in cash and cash equivalents at 31

December 2025, bringing Group liquidity to approximately

$4.4bn at 31 December 2025.

**Capital expenditure**

During Q4 2025, sustaining capital expenditure\* of the

Group increased by 23% year-on-year to $350m, compared

to $285m in Q4 2024. Sustaining capital expenditure\* at

managed operations rose by 24% year-on-year to $329m in

Q4 2025, up from $266m in Q4 2024. This increase was

primarily driven by the inclusion of Sukari's sustaining capital

expenditure\* of $43m to the portfolio (including additional

mining fleet replacements and adjusted rebuild schedules in

Q4 2025), and a $13m increase at Obuasi mainly due to an

increased rate per meter in Mineral Reserve development

and underground infrastructure development. At non-

managed joint ventures, sustaining capital expenditure\*

increased by 11% year-on-year to $21m in Q4 2025, from

$19m in Q4 2024, mainly reflecting higher expenditure on

underground equipment and increased Mineral Reserve

development costs at Kibali, aligned with increased

underground development metres.

Non-sustaining capital expenditure\* for the Group was

$145m in Q4 2025, a 73% increase year-on-year from $84m

in Q4 2024. At managed operations, non-sustaining capital

expenditure\* rose by 87% year-on-year to $125m, from

$67m in Q4 2024, largely due to the addition of Sukari's non-

sustaining capital expenditure\* of $35m to the portfolio, and

a $10m increase at Siguiri due to Block 3 implementation,

with haul road construction and mining hub workshops

underway. This increase was partially offset by reduced

growth capital expenditure at Obuasi, following the

completion of Phase 3 of the Obuasi redevelopment project

in Q4 2024.

Non-managed joint ventures recorded an 18% year-on-year

increase in non-sustaining capital expenditure\* to $20m in

Q4 2025, from $17m in Q4 2024, mainly driven by higher

expenditure at Kibali on waste stripping for the Pamao

deposition project, as well as expenditure on the

implementation of the Oere resettlement action plan.

During 2025, sustaining capital expenditure\* of the Group

increased by 22% year-on-year to $1,141m, compared to

$932m in 2024. Sustaining capital expenditure\* at managed

operations rose by 24% year-on-year to $1,070m in 2025, up

from $864m in 2024. This increase was primarily driven by

the inclusion of Sukari's sustaining capital expenditure\* of

$145m in the portfolio, a $37m increase at Geita reflecting

the acquisition of a new mining fleet and increased

investment in Mineral Reserve development, and a $29m

increase at Obuasi mainly due to an increased rate per

meter in Mineral Reserve development and underground

infrastructure development. This increase was partially offset

by lower expenditure at Siguiri following elevated deferred

stripping expenditure in 2024, and reduced expenditure at

Iduapriem mainly due to savings initiatives and temporary

deferral of some stay-in-business capital. At non-managed

joint ventures, sustaining capital expenditure\* at Kibali

increased by 4% year-on-year to $71m in 2025, from $68m

in 2024.

Non-sustaining capital expenditure\* for the Group was

$459m in 2025, a 62% increase year-on-year from $283m in

2024. At managed operations, non-sustaining capital

expenditure\* rose by 68% year-on-year to $379m, from

$226m in 2024, primarily driven by the addition of Sukari's

non-sustaining capital expenditure\* of $117m to the portfolio,

investment in growth at Cuiabá to ramp up production and

increased expenditure on the Havana growth project at

Tropicana. These increases were partially offset by lower

non-sustaining capital expenditure\* at Obuasi following the

successful completion of Phase 3 of the Obuasi

redevelopment project in Q4 2024. Non-managed joint

ventures recorded a 40% year-on-year increase in non-

sustaining capital expenditure\* to $80m in 2025, from $57m

in 2024. The increase was primarily driven by higher

investment at Kibali, including waste stripping for the Pamao

deposition project and continued progress on buttressing the

TSF.

*\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>12</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

GUIDANCE

---

| | | |
|:---|:---|:---|
| 2026 GUIDANCE | 2026 GUIDANCE | **2026 Guidance**<sup>(1)</sup> |
| **Gold production**  | **Gold production (koz)** |  |
| **Gold production**  | –Managed operations | 2530 - 2860 |
| **Gold production**  | –Non-managed joint ventures | 270 - 310 |
| **Gold production**  | –Group | 2800 - 3170 |
| **Gold production**  | Africa | 1890 - 2150 |
| **Gold production**  | Australia | 495 - 555 |
| **Gold production**  | Americas | 415 - 465 |
| **Costs**<sup>(1)</sup> | **All-in sustaining costs per ounce\* ($/oz)** |  |
| **Costs**<sup>(1)</sup> | –Managed operations | 1825 - 2050 |
| **Costs**<sup>(1)</sup> | –Non-managed joint ventures | 1355 - 1460 |
| **Costs**<sup>(1)</sup> | –Group | 1780 - 1990 |
| **Costs**<sup>(1)</sup> | Africa | 1780 |
| **Costs**<sup>(1)</sup> | Australia | 2100 |
| **Costs**<sup>(1)</sup> | Americas | 1725 |
| **Costs**<sup>(1)</sup> | **Total cash costs per ounce\* ($/oz)** |  |
| **Costs**<sup>(1)</sup> | –Managed operations | 1335 - 1455 |
| **Costs**<sup>(1)</sup> | –Non-managed joint ventures | 1135 - 1225 |
| **Costs**<sup>(1)</sup> | –Group | 1315 - 1430 |
| **Costs**<sup>(1)</sup> | Africa | 1300 |
| **Costs**<sup>(1)</sup> | Australia | 1815 |
| **Costs**<sup>(1)</sup> | Americas | 1190 |
| **Capital expenditure**<sup>(1)</sup> | **Capital expenditure ($m)** |  |
| **Capital expenditure**<sup>(1)</sup> | –Managed operations | 1640 - 1770 |
| **Capital expenditure**<sup>(1)</sup> | –Non-managed joint ventures | 185 - 205 |
| **Capital expenditure**<sup>(1)</sup> | –Group | 1825 - 1975 |
| **Capital expenditure**<sup>(1)</sup> | **Sustaining capital expenditure\* ($m)** |  |
| **Capital expenditure**<sup>(1)</sup> | –Managed operations | 985 - 1075 |
| **Capital expenditure**<sup>(1)</sup> | –Non-managed joint ventures | 55 - 65 |
| **Capital expenditure**<sup>(1)</sup> | –Group | 1040 - 1140 |
| **Capital expenditure**<sup>(1)</sup> | **Non-sustaining capital expenditure\* ($m)** |  |
| **Capital expenditure**<sup>(1)</sup> | –Managed operations | 655 - 695 |
| **Capital expenditure**<sup>(1)</sup> | –Non-managed joint ventures | 130 - 140 |
| **Capital expenditure**<sup>(1)</sup> | –Group | 785 - 835 |

---

<sup>(1)</sup> *The Company is not providing quantitative reconciliations to the most directly comparable IFRS measures for its Non-GAAP financial guidance* 

*shown above in reliance on the exception provided by Rule 100(a)(2) of Regulation G because the reconciliations cannot be performed without* 

*unreasonable efforts as such IFRS measures cannot be reliably estimated due to their dependence on future uncertainties and adjusting items,* 

*including, among other factors, changes in economic, social, political and market conditions, including related to inflation or international* 

*conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including* 

*environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply* 

*chain disruptions, any public health crises, pandemics or epidemics, and other business and operational risks and challenges and other factors,* 

*including mining accidents, that the Company cannot reasonably predict at this time but which may be material. Outlook economic assumptions* 

*for 2026 guidance are as follows: $0.68/A$, BRL5.47/$, AP1,606/$, ZAR16.90/$, Brent $61/bbl and gold price range of approximately $4,250/*

*oz.* 

*Cost and capital forecast ranges for 2026 are expressed in "nominal" terms. "Nominal" cash flows are current price term cash flows that have* 

*been inflated into future value, using an appropriate "inflation" rate. Estimates assume neither operational or labour interruptions or power* 

*disruptions, nor further changes to asset portfolio and/or operating mines and have not been reviewed by AngloGold Ashanti's external* 

*auditors. Other unknown or unpredictable factors, or factors outside the Company's control, including inflationary pressures on its cost base,* 

*could also have material adverse effects on AngloGold Ashanti's future results and no assurance can be given that any expectations expressed* 

*by AngloGold Ashanti will prove to have been correct. Measures taken at AngloGold Ashanti's operations together with AngloGold Ashanti's* 

*business continuity plans aim to enable its operations to deliver in line with its production targets. Actual results could differ from guidance and* 

*any deviations may be significant. Please refer to the Risk Factors section in AngloGold Ashanti's annual report on Form 20-F for the financial* 

*year ended 31 December 2024 filed with the SEC.*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>13</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

GUIDANCE CONTINUED

Group gold production is expected to range from 2.80Moz to 3.17Moz and total cash costs per ounce\* for managed operations are

expected to range from $1,335/oz to $1,455/oz in 2026. After accounting for macroeconomic factors, the range of total cash costs

per ounce\* is expected to increase slightly in 2026 due to higher forecast royalties, additional material movement in both our

underground and open pit operations and generally lower grades. Our continued enhancements of, and investments in, the Sukari

operation are anticipated to maintain sustaining capital expenditure\* at our managed operations broadly in line with 2025 level in

2026. This includes Full Asset Potential investments expected to unlock productivity gains in late 2026 and into 2027. Non-

sustaining capital expenditure\* at our managed operations in 2026 is planned to focus on Nevada, waste stripping at Sukari, and

TSFs at Obuasi and Siguiri.

---

| | | |
|:---|:---|:---|
| 2027 GUIDANCE | 2027 GUIDANCE | **2027 Guidance**<sup>(1)</sup> |
| **Gold production**  | Gold production (koz) - Group | 2850 - 3220 |
| **Costs**<sup>(1)</sup> | All-in sustaining costs per ounce\* ($/oz) - Group | 1780 - 1990 |
| **Costs**<sup>(1)</sup> | Total cash costs per ounce\* ($/oz) - Group | 1315 - 1430 |
| **Capital expenditure**<sup>(1)</sup> | Capital expenditure ($m) - Group | 2000 - 2200 |
| **Capital expenditure**<sup>(1)</sup> | Sustaining capital expenditure\* ($m) - Group | 1040 - 1140 |
| **Capital expenditure**<sup>(1)</sup> | Non-sustaining capital expenditure\* ($m) - Group | 960 - 1060 |

---

<sup>(1)</sup> *The Company is not providing quantitative reconciliations to the most directly comparable IFRS measures for its Non-GAAP financial guidance* 

*shown above in reliance on the exception provided by Rule 100(a)(2) of Regulation G because the reconciliations cannot be performed without* 

*unreasonable efforts as such IFRS measures cannot be reliably estimated due to their dependence on future uncertainties and adjusting items,* 

*including, among other factors, changes in economic, social, political and market conditions, including related to inflation or international* 

*conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including* 

*environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply* 

*chain disruptions, any public health crises, pandemics or epidemics, and other business and operational risks and challenges and other factors,* 

*including mining accidents, that the Company cannot reasonably predict at this time but which may be material. Outlook economic assumptions* 

*for 2027 guidance are as follows: $0.68/A$, BRL5.47/$, AP1,606/$, ZAR16.90/$, Brent $61/bbl and gold price range of approximately $4,250/*

*oz.* 

*Cost and capital forecast ranges for 2027 are expressed in "real" terms. "Real" cash flows are adjusted for "inflation" in order to reflect the* 

*change in value of money over time. Estimates assume neither operational or labour interruptions or power disruptions, nor further changes to* 

*asset portfolio and/or operating mines and have not been reviewed by AngloGold Ashanti's external auditors. Other unknown or unpredictable* 

*factors, or factors outside the Company's control, including inflationary pressures on its cost base, could also have material adverse effects on* 

*AngloGold Ashanti's future results and no assurance can be given that any expectations expressed by AngloGold Ashanti will prove to have* 

*been correct. Measures taken at AngloGold Ashanti's operations together with AngloGold Ashanti's business continuity plans aim to enable its* 

*operations to deliver in line with its production targets. Actual results could differ from guidance and any deviations may be significant. Please* 

*refer to the Risk Factors section in AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with* 

*the SEC.*

The continued ramp-up at Obuasi is expected to underpin the anticipated uplift in 2027 gold production ounces while AISC\* and

total cash costs per ounce\* are expected to remain flat in real terms in 2027 on the strength of our cost leadership and productivity

programmes. Investment in sustaining capital expenditure\* to support safe and stable operations is expected to continue in 2027 at

the same level as 2025 and 2026 while the expected increase in non-sustaining capital expenditure\* reflects the planned start of

construction at the North Bullfrog project in 2027.

*\*Refer to "Non-GAAP disclosure" for definitions and reconciliations.*

![a11nevada_v2.jpg](a11nevada_v2.jpg)

*Nevada, United States of America*

---

| | |
|:---|:---|
| Q4 2025 EARNINGS RELEASE<sub>14</sub> | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW

**Regional view**

**Africa region**

![africa_resizedxv2.jpg](africa_resizedxv2.jpg)

**In the Africa region,** managed operations (including Sukari)

produced 439,000oz at a total cash cost\* of $1,297/oz in Q4

2025, compared to 360,000oz at a total cash cost\* of

$1,225/oz in Q4 2024. Non-managed joint ventures

produced (on an attributable basis) 79,000oz at a total cash

cost\* of $1,156/oz in Q4 2025, compared to 80,000oz at a

total cash cost\* of $967/oz in Q4 2024.

Managed operations (including Sukari) produced

1,746,000oz at a total cash cost\* of $1,182/oz in 2025,

compared to 1,254,000oz at a total cash cost\* of $1,212/oz

in 2024.

Non-managed joint ventures produced (on an attributable

basis) 303,000oz at a total cash cost\* of $1,148/oz in 2025,

compared to 309,000oz at a total cash cost\* of $935/oz in

2024. **In Ghana, at Iduapriem,** gold production was 50,000oz at a

total cash cost\* of $1,489/oz for Q4 2025, in line with the

50,000oz produced at a total cash cost\* of $1,478/oz during

Q4 2024. Gold production remained in line year-on-year in

Q4 2025 compared with Q4 2024, with a 6% year-on-year

increase in recovered grade offset by a 5% decrease in

tonnes treated, stemming from operational delays causing

lower effective plant operating hours coupled with lower ore

tonnes mined compared to Q4 2024. Total cash costs per

ounce\* marginally increased by 1% year-on-year in Q4 2025

compared to Q4 2024, mainly due to increases in royalties

and production taxes linked to the higher gold price, higher

mining contractor costs related to updated rates, and

increases in maintenance-related expenditures, partially

offset by lower metal inventory costs and an increase in

stripping costs capitalised compared to Q4 2024.

Gold production was 199,000oz at a total cash cost\* of

$1,482/oz for 2025, compared to 237,000oz at a total cash

cost\* of $1,118/oz during 2024. Gold production decreased

by 16% year-on-year in 2025 compared to 2024, mainly due

to an unplanned seventeen-day plant shutdown in Q1 2025

to investigate and repair a tear in the lining of the Beposo

TSF, as well as a reduction in overall grade resulting from

the depletion of the higher-grade Cut 2B pit in 2024 and

increased processing plant operational downtime due to

power supply interruptions. Total cash costs per ounce\*

increased by 33% year-on-year in 2025 compared to 2024,

mainly driven by lower production, including an estimated

shortfall of approximately 12,000oz due to the plant

stoppage in Q1 2025, and the processing of lower-grade ore

year-on-year. Additionally, operating costs increased due to

higher expenditure on mining contractor costs, consultant

costs, and repair and maintenance costs.

![a03obuasi_v3.jpg](a03obuasi_v3.jpg)

*Obuasi, Ghana*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 15 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW CONTINUED

**At Obuasi,** gold production was 72,000oz at a total cash

cost\* of $1,376/oz for Q4 2025, compared to 60,000oz at a

total cash cost\* of $1,169/oz during Q4 2024. Gold

production increased by 20% year-on-year in Q4 2025

compared to Q4 2024. This strong production performance

was mainly driven by a 4% improvement in total recovered

grade in Q4 2025 compared to the lower grade Kokoteasua

material included in the ore processed in Q4 2024, and a

15% increase in tonnes treated in Q4 2025 driven by

improved underground ore deliveries compared to Q4 2024

when ore output was affected by ventilation constraints and

low equipment availability. Total cash costs per ounce\*

increased by 18% year-on-year in Q4 2025 compared to Q4

2024, mainly due to higher operating costs associated with

increases in royalties linked to the higher gold price,

increases in labour costs related to increases in rate and

labour complement, increases in mining contractor costs due

to updated rates, and increases in consultant and

maintenance expenditure.

Gold production was 266,000oz at a total cash cost\* of

$1,325/oz for 2025, compared to 221,000oz at a total cash

cost\* of $1,214/oz during 2024. Gold production increased

by 20% year-on-year in 2025 compared to 2024. This strong

production performance was mainly driven by a 13%

improvement in average mill head grade, together with a 3%

recovery uplift due to the commissioning of the second flash

cell and stable plant performance, as well as 4% higher

tonnes treated compared to 2024 when output was

constrained by multiple equipment breakdowns and poor

ground conditions. Total cash costs per ounce\* increased by

9% year-on-year in 2025 compared to 2024, mainly due to

higher labour costs associated with increases in rate and

labour complement, bonuses linked to stronger production

performance, mining contractor costs associated with

increased tonnes mined and updated rates, along with

elevated consultant and maintenance costs, and higher

royalties linked to the higher gold price.

**In Guinea, at Siguiri,** gold production was 85,000oz at a

total cash cost\* of $1,898/oz for Q4 2025, compared to

74,000oz at a total cash cost\* of $1,747/oz in Q4 2024. Gold

production increased by 15% year-on-year in Q4 2025

compared to Q4 2024, mainly due to improvements in plant

recoveries driven by plant efficiency initiatives, including

carbon management, together with a 3% improvement in

total tonnes treated due to higher throughput related to the

improved Mill 2 rate and run time, as well as processing of

stockpiled ore following the TSF-related plant stoppage in

Q3 2025. Total cash costs per ounce\* increased by 9% year-

on-year in Q4 2025 compared to Q4 2024, as the benefit of

higher production was more than offset by higher royalties

linked to the higher gold price, and increases in labour

contractor, material stores and maintenance costs.

Gold production was 289,000oz at a total cash cost\* of

$1,783/oz for 2025, compared to 273,000oz at a total cash

cost\* of $1,703/oz in 2024. Gold production increased by 6%

in 2025 compared to 2024, mainly due to a 9% improvement

in recovered grade driven by plant efficiency measures and

the exclusion of the Bidini ore from the blend. This increase

was partly offset by a 3% decrease in tonnes treated, due to

the plant stoppage in Q3 2025 to address seepage on a

section of the south wall of the TSF following a significant

rainfall event. Remedial works, including buttressing, are

well advanced and will continue around the perimeter of the

TSF through H1 2026. Total cash costs per ounce\*

increased by 5% year-on-year in 2025 compared to 2024,

mainly due to increases in royalty expenses associated with

the higher gold price, and increases in labour contractor,

material stores and maintenance costs, partially offset by the

higher production base, and a build-up of metal inventories

year-on-year.

**In Tanzania, at Geita,** gold production was 113,000oz at a

total cash cost\* of $1,187/oz for Q4 2025, compared to

136,000oz at a total cash cost\* of $892/oz in Q4 2024. Gold

production decreased by 17% year-on-year in Q4 2025

![a04siquiri_v4.jpg](a04siquiri_v4.jpg)

*Siguiri, Guinea*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 16 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW CONTINUED

compared to Q4 2024, mainly due to 16% lower recovered

grades stemming from low availability of high-grade stopes

following the negative geological model conversions at Geita

Hill and Nyankanga Block 4 P8 stopes, as well as lower

plant recovery relating to grinding, lower recovery stopes

and a 3% lower mine call factor compared to Q4 2024. Gold

production was also halted for almost a week in late

October/early November 2025, to limit risk to employees,

contractors and suppliers travelling to and from site amid

widespread unrest in Tanzania following the general

elections. It was again significantly slowed in early

December 2025 as a precautionary measure in anticipation

of a nationwide protest. Total cash costs per ounce\*

increased by 33% year-on-year in Q4 2025 compared to Q4

2024, largely due to the lower production base, increased

backfilling, maintenance and stores costs and a decrease in

metal inventory build-up year-on-year.

Gold production was 492,000oz at a total cash cost\* of

$1,038/oz for 2025, compared to 483,000oz at a total cash

cost\* of $984/oz in 2024. Gold production marginally

increased by 2% year-on-year in 2025 compared to 2024,

mainly due to a 17% higher mined grade from open-pit

operations, despite lower plant recovery and a 4% decrease

in tonnes treated due to lower mill throughput rate, major

engineering breakdowns, an emergency shutdown, and 10

lost production days due to political unrest. Total cash costs

per ounce\* increased by 5% year-on-year in 2025 compared

to 2024, with the benefit of the higher production base more

than offset by increases in mining contractor costs related to

updated rates, higher royalties linked to the higher gold

price, increases in contractor and consultant expenditure,

higher stores costs, and additional maintenance expenditure

on the plant and mining fleet.

**In Egypt, at Sukari,** gold production for Q4 2025 was

119,000oz (Q4 2024: 125,000oz) at a total cash cost\* of

$841/oz. Sukari was acquired by the Company on

22 November 2024. Gold production decreased by 5% year-

on-year in Q4 2025 compared to Q4 2024, mainly due to

lower head grades from selected stopes in the mine

sequence, grade dilution from development ore and low

grade material at Stage 6 East and Stage 7.

Gold production for 2025 was 500,000oz (2024: 481,000oz)

at a total cash cost\* of $783/oz. Gold production increased

by 4% year-on-year in 2025 compared to 2024, mainly due

to higher ore throughput, and better equipment availability

and utilisation.

**In the DRC, at Kibali,** gold production (on an attributable

basis) was 79,000oz at a total cash cost\* of $1,156/oz for Q4

2025, compared to 80,000oz at a total cash cost\* of $967/oz

in Q4 2024. Gold production marginally decreased by 1%

year-on-year in Q4 2025 compared to Q4 2024, mainly due

to a 4% decrease in the tonnes treated due to a shutdown

overrun and equipment availability issues, partly offset by

42% higher recovered grades from currently mined open-pit

areas and 2% higher underground mined grade. Total cash

costs per ounce\* increased by 20% year-on-year in Q4 2025

compared to Q4 2024, mainly due to volume-related

increases in open-pit mining costs, higher stores costs and

higher royalties linked to the higher gold price.

Gold production (on an attributable basis) was 303,000oz at

a total cash cost\* of $1,148/oz for 2025, compared to

309,000oz at a total cash cost\* of $935/oz in 2024. Gold

production marginally decreased by 2% year-on-year in

2025 compared to 2024, mainly due to a 2% decrease in

tonnes treated in 2025 compared to 2024, while recovered

grades remained in line with 2024. Total cash costs per

ounce\* increased by 23% year-on-year in 2025 compared to

2024, mainly due to volume-related increases in open-pit

mining costs, higher stores costs and higher gold royalties

resulting from the higher gold price.

![a05kibali_v9.jpg](a05kibali_v9.jpg)

*Kibali, Democratic Republic of the Congo*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 17 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW CONTINUED

**Australia region**

![australia_resized.jpg](australia_resized.jpg)

**In the Australia region,** gold production (on an attributable

basis) was 151,000oz at a total cash cost\* of $1,445/oz in

Q4 2025, compared to 166,000oz at a total cash cost\* of

$1,171/oz in Q4 2024.

Gold production (on an attributable basis) was 537,000oz at

a total cash cost\* of $1,530/oz in 2025, compared to

572,000oz at a total cash cost\* of $1,287/oz in 2024.

**At Sunrise Dam,** gold production was 58,000oz at a total

cash cost\* of $1,601/oz for Q4 2025, compared to 66,000oz

at a total cash cost\* of $1,406/oz in Q4 2024. Gold

production decreased by 12% year-on-year in Q4 2025

compared to Q4 2024, mainly due to lower underground

grade, which was impacted by lower loader and stope

availability, partially offset by improved recoveries driven by

increased circuit residence time and reduced solution losses.

Total cash costs per ounce\* increased by 14% year-on-year

in Q4 2025 compared to Q4 2024, mainly driven by the

impact of the lower production base year-on-year, and

volume-related increases in mining costs, partially offset by a

build-up of metal inventories.

Gold production was 232,000oz at a total cash cost\* of

$1,634/oz for 2025, compared to 259,000oz at a total cash

cost\* of $1,343/oz in 2024. Gold production decreased by

10% year-on-year in 2025 compared to 2024, mainly due to

reduced underground ore tonnes mined resulting from lower

loader and stope availability, partially offset by an

improvement in plant recoveries. Total cash costs per ounce\*

increased by 22% year-on-year in 2025 compared to 2024,

mainly driven by the lower production base, drawdown on

gold-in-process inventories and volume-related increases in

mining costs year-on-year.

**At Tropicana,** gold production (on an attributable basis) was

93,000oz at a total cash cost\* of $1,234/oz in Q4 2025,

compared to 100,000oz at a total cash cost\* of $924/oz in

Q4 2024. Gold production decreased by 7% year-on-year in

Q4 2025 compared to Q4 2024, mainly due to a greater

proportion of the lower-grade stockpile ore processed,

partially offset by higher open-pit mined grade. Total cash

costs per ounce\* increased by 34% year-on-year in Q4 2025

compared to Q4 2024, mainly due to the lower production

base year-on-year, higher royalties linked to the higher gold

price, drawdown of metal inventories, and volume-related

increases in mining costs.

Gold production (on an attributable basis) was 305,000oz at

a total cash cost\* of $1,330/oz in 2025, compared to

313,000oz at a total cash cost\* of $1,132/oz in 2024. Gold

production decreased by 3% year-on-year for 2025

compared to 2024, with lower recovered grade, primarily

driven by a higher proportion of lower-grade stockpile ore

processed, partially offset by a 3% improvement in tonnes

treated. Total cash costs per ounce\* increased by 17% year-

on-year for 2025 compared to 2024, primarily driven by the

lower production base, volume-related increases in

underground mining costs, elevated gold royalties and

drawdown of metal inventories year-on-year.

![a06sunrisedam_v2.jpg](a06sunrisedam_v2.jpg)

*Sunrise Dam, Australia*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 18 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW CONTINUED

**Americas region**

![americas_updatednotesxv2.jpg](americas_updatednotesxv2.jpg)

**In the Americas region,** gold production was 130,000oz at

a total cash cost\* of $1,178/oz in Q4 2025, compared to

144,000oz at a total cash cost\* of $1,035/oz in Q4 2024.

Gold production was 505,000oz at a total cash cost\* of

$1,195/oz in 2025, compared to 526,000oz at a total cash

cost\* of $1,027/oz in 2024.

**In Brazil, at Cuiabá (AGA Mineração),** gold production was

77,000oz at a total cash cost\* of $1,058/oz for Q4 2025,

compared to 75,000oz at a total cash cost\* of $859/oz in Q4

2024. Following the successful restart of the Queiroz plant in

September 2024, gold production is now recorded upon

refining and pouring at the plant, together with the shipment

of gold concentrate. Gold production increased by 3% year-

on-year in Q4 2025 compared to Q4 2024, mainly due to a

46% increase in tonnes treated in Q4 2025 driven by higher

tonnes mined compared to Q4 2024, partly offset by 30%

lower mined grades from underground operations. Total cash

costs per ounce\* increased by 23% year-on-year for Q4

2025 compared to Q4 2024, mainly due to volume-related

increases in mining and processing costs, partially offset by

the higher production base and an increase in by-product

revenue.

Gold production was 273,000oz at a total cash cost\* of $976/

oz for 2025, compared to 271,000oz at a total cash cost\* of

$876/oz in 2024. Gold production marginally increased by

1% year-on-year in 2025 compared to 2024, mainly due to a

15% increase in mined ore, partially offset by 11% lower

recovered grade. Total cash costs per ounce\* increased by

11% year-on-year for 2025 compared to 2024, mainly due to

volume-related increases in underground mining costs, and

increases in maintenance costs, partially offset by increased

by-product revenue and a weaker Brazilian real relative to

the US dollar.

**At Serra Grande,** gold production was 11,000oz at a total

cash cost\* of $2,095/oz for Q4 2025, compared to 22,000oz

at a total cash cost\* of $1,338/oz in Q4 2024. Gold

production decreased by 50% year-on-year in Q4 2025

compared to Q4 2024, mainly due to the completion of the

sale of Serra Grande on 1 December 2025, as well as lower

recovered grade and tonnes treated stemming from changes

in the mine plan. Total cash costs per ounce\* increased by

57% year-on-year in Q4 2025 compared to Q4 2024, mainly

driven by lower production.

Gold production was 53,000oz at a total cash cost\* of

$2,165/oz for 2025, compared to 80,000oz at a total cash

cost\* of $1,411/oz in 2024. Gold production decreased by

34% year-on-year in 2025 compared to 2024, mainly due to

lower recovered grades and ore volumes mined, impacted

by the completion of the sale of Serra Grande on

1 December 2025. Total cash costs per ounce\* increased by

53% year-on-year for 2025 compared to 2024, largely

reflecting the impact of the lower production base and the

sale of Serra Grande.

**In Argentina, at Cerro Vanguardia,** gold production was

42,000oz at a total cash cost\* of $1,142/oz during Q4 2025,

compared to 47,000oz at a total cash cost\* of $1,155/oz in

Q4 2024. Gold production decreased by 11% year-on-year in

Q4 2025 compared to Q4 2024, mainly due to 7% lower

tonnes treated as a result of a five-day planned maintenance

shutdown in December 2025 and an 8% decrease in heap

leach tonnes placed. Total cash costs per ounce\* marginally

decreased by 1% year-on-year in Q4 2025 compared to Q4

2024, mainly driven by an increase in by-product revenue

due to a stronger silver price, partially offset by increases in

maintenance and stores costs and higher gold royalties

resulting from the higher gold price.

Gold production was 179,000oz at a total cash cost\* of

$1,227/oz during 2025, compared to 175,000oz at a total

cash cost\* of $1,073/oz in 2024. Gold production marginally

increased by 2% year-on-year in 2025 compared to 2024,

mainly due to a 3% increase in total recovered grades, partly

offset by a marginal 1% decrease in heap leach tonnes

placed. Total cash costs per ounce\* increased by 14% year-

on-year in 2025 compared to 2024, mainly driven by cost

increases in consumable stores and elevated royalty costs

resulting from the higher gold price, partially offset by a

weaker Argentinean peso against the US dollar.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 19 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **REGIONS I FINANCIAL AND OPERATING RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER IN REVIEW CONTINUED

**Corporate update**

**Issued share capital**

As at 19 February 2026, the total issued ordinary share

capital of the Company consisted of 505,014,800 ordinary

shares of $1.00 each. Each AngloGold Ashanti ordinary

share carries one voting right. The Company does not hold

any of its ordinary shares in treasury.

This figure may be used by AngloGold Ashanti shareholders

to determine whether they are required to notify their

interest, or a change to their interest, in the Company under

its Articles of Association or to comply with any other

applicable laws and regulations.

**Sale of the Serra Grande mine**

On 1 December 2025, AngloGold Ashanti completed the sale

of Mineração Serra Grande S.A., which owns the Serra

Grande mine ("MSG") in the state of Goiás, Brazil, to Aura

Minerals Inc.

**Quebradona**

On 20 June 2025, the Colombian Ministry of Environment

and Sustainable Development issued Resolution No. 855 of

2025, declaring a temporary renewable natural resources

reserve zone over multiple municipalities in the southwest of

the Department of Antioquia, including the area in which the

Quebradona project is located.

Resolution No. 855 restricts mining activities for three years

(extendable for a further two years) while authorities may

conduct technical studies regarding the conservation value

of the area and subsequently determine whether to convert

the area to a permanent protected area or to withdraw the

temporary designation. No new environmental permits or

licences may be issued as long as Resolution No. 855 is in

force, though it expressly provides that existing concessions,

permits and licences must be respected.

On 2 December 2025, the Company lodged an annulment

and redress claim against Resolution No. 855 before the

Colombian courts, which is currently pending the Court's

admission.

**Change to Board of Directors**

Effective 27 October 2025, Mr. Marcus Randolph joined

AngloGold Ashanti's board of directors as an independent

non-executive director. Mr. Randolph serves as a member of

the Compensation and Human Resources Committee and

the Social, Ethics and Sustainability Committee.

**Annual General Meeting (AGM)**

The Company's AGM will be held at, and will be broadcast

from, the Group's global headquarters at 6363 S. Fiddlers

Green Circle, Suite 1000, Greenwood Village, CO 80111,

United States of America at 9:00 a.m. (MDT) on 5 May 2026,

with a record date of 13 March 2026.

Shareholders should refer to the Notice of Meeting which is

expected to be made available on the Company's website on

or around 26 March 2026 at www.anglogoldashanti.com/

investors/shareholders/general-meetings for further

information.

**Arthur Gold Project pre-feasibility study**<sup>(a) (b) (c)</sup>

With completion of the pre-feasibility ("PFS"), a Probable

Mineral Reserve of 4.9Moz of contained gold (88Mt at 1.75

g/t) and 7.8Moz of contained silver (88Mt at 2.76g/t) is

reported for the first time as at 31 December 2025 for the

Arthur Gold Project. This supports an initial nine-year mine

life with an estimated average annual production of

approximately 500,000oz.

There is also a gold Indicated Mineral Resource of 1.0Moz

and a gold Inferred Mineral Resource of 5.5Moz in addition

to the gold Mineral Reserve of 4.9Moz as at 31 December

2025 at the Merlin deposit. Silver by-product at Merlin

includes a silver Indicated Mineral Resource of 2.0Moz and

a silver Inferred Mineral Resource of 13.7Moz. Drilling

programmes remain underway with the aim to convert

additional Mineral Resource, expand the mineralised

footprint and support additional technical studies.

The Company expects that the Arthur Gold Project will have

a structurally competitive cost profile, with AISC per ounce\*

estimated at $954/oz. This resilience is underpinned by

predominantly oxide mineralisation (>95%) and planned

conventional processing flowsheets. The development plan

envisions an integrated operation comprising a 7Mtpa milling

facility and a 5.5Mtpa crushed heap-leach circuit. The

Company anticipates that mining will utilize conventional

open-pit methods with electric rope shovels and ultra-class

haul trucks. To ensure environmental stewardship, the Arthur

Gold Project is planned to use filtered, dry-stacked tailings

for enhanced water conservation.

The PFS report is expected to be presented to the AGA

Board of Directors for approval to transition to the feasibility

study phase in June 2026.

**Arthur 2026 Mineral Reserve Results Summary** 

---

| | |
|:---|:---|
| **Key Metric** | Mineral Reserve |
| Initial Mineral Reserve @$1,950/oz | 88Mt @ 1.75g/t for 4.9Moz |
| Gold Produced (Moz) | c.4.5 |
| Ore Tonnes (Mtpa) | c.12.75 |
| Life of Mine (Yrs) - initial | c. 9 |
| Avg. Annual Production (koz) | c. 500 |
| LOM Total Cash Costs\* ($/oz) | c.778 |
| LOM AISC ($/oz) | c. 954 |
| Project Capital Expenditure\* ($bn) | c. 3.6 |

---

<sup>(a)</sup>*The Pre-Feasibility Technical Report Summary for the Arthur Gold Project* 

*will be filed as an exhibit to the Company's annual report on Form 20-F* 

*for the financial year ended 31 December 2025 to be filed with the SEC.* 

<sup>(b)</sup>*Arthur Gold Project Mineral Reserve and Mineral Resource estimates are* 

*presented as at 31 December 2025, unless otherwise stated, and* 

*economic estimates presented are calculated based on the Mineral* 

*Reserve declared in the PFS only, exclusive of Mineral Resource. For* 

*further information see "2025 Mineral Resource and Mineral Reserve* 

*Information" below.*

<sup>(c)</sup>*The Company is not providing quantitative reconciliations to the most* 

*directly comparable IFRS measures for its Non-GAAP forward-looking* 

*information shown above in reliance on the exception provided by Rule* 

*100(a)(2) of Regulation G because the reconciliations cannot be* 

*performed without unreasonable efforts as such IFRS measures cannot* 

*be reliably estimated due to their dependence on future uncertainties and* 

*adjusting items, including, among other factors, changes in economic,* 

*social, political and market conditions, including related to inflation or* 

*international conflicts, the success of business and operating initiatives,* 

*changes in the regulatory environment and other government actions,* 

*including environmental approvals, fluctuations in gold prices and* 

*exchange rates, the outcome of pending or future litigation proceedings,* 

*any supply chain disruptions, any public health crises, pandemics or* 

*epidemics, and other business and operational risks and challenges and* 

*other factors, including mining accidents, that the Company cannot* 

*reasonably predict at this time but which may be material.*

**Exploration update**

For detailed disclosure on the exploration work done for the

three months ended 31 December 2025, see the Exploration

Update document on the Company's website at

www.anglogoldashanti.com on both brownfield and

greenfield exploration programmes.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 20 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

INCOME STATEMENT

---

| | | | | |
|:---|:---|:---|:---|:---|
| GROUP INCOME STATEMENT | **Quarter** | Quarter | **Year** | Year |
| GROUP INCOME STATEMENT | **ended** | ended | **ended** | ended |
| GROUP INCOME STATEMENT | **Dec** | Dec | **Dec** | Dec |
| GROUP INCOME STATEMENT | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| Revenue from product sales | **3068** | 1750 | **9893** | 5793 |
| Cost of sales | **(1425)** | (1043) | **(5022)** | (3726) |
| **Gross profit**  | **1643** | 707 | **4871** | 2067 |
| Corporate administration, marketing and related expenses | **(45)** | (32) | **(138)** | (118) |
| Exploration and evaluation costs | **(90)** | (75) | **(267)** | (252) |
| (Impairment) reversal of impairment, (derecognition of assets) and profit (loss) <br>on disposal <sup>(1)</sup><br>| **(110)** | 72 | **(88)** | 58 |
| Other expenses | **(62)** | (26) | **(248)** | (144) |
| Finance income | **38** | 38 | **152** | 160 |
| Foreign exchange and fair value adjustments | **16** | 29 | **(41)** | (87) |
| Finance costs and unwinding of obligations | **(54)** | (41) | **(220)** | (167) |
| Share of associates and joint ventures' profit | **108** | 26 | **255** | 155 |
| **Profit before taxation** | **1444** | 698 | **4276** | 1672 |
| Taxation | **(433)** | (204) | **(1102)** | (623) |
| **Profit for the period** | **1011** | 494 | **3174** | 1049 |
| *Attributable to:* |  |  |  |  |
| Equity shareholders | **855** | 470 | **2636** | 1004 |
| Non-controlling interests | **156** | 24 | **538** | 45 |
|  | **1011** | 494 | **3174** | 1049 |
| Basic earnings per ordinary share (US cents) <sup>(2)</sup> | **168** | 103 | **519** | 233 |
| Diluted earnings per ordinary share (US cents) <sup>(3)</sup> | **168** | 103 | **519** | 233 |
| <sup>(1)</sup>*(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal line item for the year ended 31 December 2025 includes an impairment* <br>*on Quebradona of $98m and a loss on disposal of $47m relating to the disposal of the Doropo and Archean-Birimian Contact (ABC) projects, partially offset by a* <br>*reversal of impairment for Mineração Serra Grande mine (MSG) of $59m (gross of taxation).* | <sup>(1)</sup>*(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal line item for the year ended 31 December 2025 includes an impairment* <br>*on Quebradona of $98m and a loss on disposal of $47m relating to the disposal of the Doropo and Archean-Birimian Contact (ABC) projects, partially offset by a* <br>*reversal of impairment for Mineração Serra Grande mine (MSG) of $59m (gross of taxation).* | <sup>(1)</sup>*(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal line item for the year ended 31 December 2025 includes an impairment* <br>*on Quebradona of $98m and a loss on disposal of $47m relating to the disposal of the Doropo and Archean-Birimian Contact (ABC) projects, partially offset by a* <br>*reversal of impairment for Mineração Serra Grande mine (MSG) of $59m (gross of taxation).* | <sup>(1)</sup>*(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal line item for the year ended 31 December 2025 includes an impairment* <br>*on Quebradona of $98m and a loss on disposal of $47m relating to the disposal of the Doropo and Archean-Birimian Contact (ABC) projects, partially offset by a* <br>*reversal of impairment for Mineração Serra Grande mine (MSG) of $59m (gross of taxation).* | <sup>(1)</sup>*(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal line item for the year ended 31 December 2025 includes an impairment* <br>*on Quebradona of $98m and a loss on disposal of $47m relating to the disposal of the Doropo and Archean-Birimian Contact (ABC) projects, partially offset by a* <br>*reversal of impairment for Mineração Serra Grande mine (MSG) of $59m (gross of taxation).* |
| <sup>(2)</sup> *Calculated on the basic weighted average number of ordinary shares.* |  |  |  |  |
| <sup>(3)</sup> *Calculated on the diluted weighted average number of ordinary shares.* |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 21 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

STATEMENT OF FINANCIAL POSITION

---

| | | |
|:---|:---|:---|
| GROUP STATEMENT OF FINANCIAL POSITION | **As at** | As at |
| GROUP STATEMENT OF FINANCIAL POSITION | **Dec** | Dec |
| GROUP STATEMENT OF FINANCIAL POSITION | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited<br>Revised<br>|
| **ASSETS** |  |  |
| **Non-current assets** |  |  |
| Tangible assets | **8515** | 8512 |
| Right of use assets | **187** | 123 |
| Intangible assets | **106** | 98 |
| Investments in associates and joint ventures | **726** | 530 |
| Other investments | **12** | 54 |
| Loan receivable | **200** | 203 |
| Inventories | **175** | 158 |
| Trade, other receivables and other assets <sup>(1)</sup> | **249** | 213 |
| Contingent consideration <sup>(1)</sup> | **60** | 30 |
| Reimbursive right for post-retirement benefits | **51** | 49 |
| Deferred taxation  | **106** | 85 |
| Cash restricted for use | **44** | 41 |
|  | **10431** | 10096 |
| **Current assets** |  |  |
| Loan receivable | **133** | 260 |
| Inventories | **1076** | 1055 |
| Trade, other receivables and other assets <sup>(1)</sup> | **423** | 356 |
| Contingent consideration <sup>(1)</sup> | **62** | 18 |
| Taxation | **3** |  |
| Cash restricted for use | **23** | 20 |
| Cash and cash equivalents  | **2905** | 1425 |
| Assets held for sale <sup>(2)</sup> | **22** |  |
|  | **4647** | 3134 |
| **Total assets** | **15078** | 13230 |
| **EQUITY AND LIABILITIES** |  |  |
| Share capital and premium | **554** | 526 |
| Accumulated profit (losses) and other reserves | **7537** | 6103 |
| Shareholders' equity | **8091** | 6629 |
| Non-controlling interests | **1825** | 1884 |
| **Total equity** | **9916** | 8513 |
| **Non-current liabilities** |  |  |
| Borrowings | **2025** | 1901 |
| Lease liabilities | **155** | 65 |
| Environmental rehabilitation and other provisions  | **687** | 656 |
| Provision for pension and post-retirement benefits | **61** | 57 |
| Trade and other payables | **14** | 6 |
| Deferred taxation | **600** | 502 |
|  | **3542** | 3187 |
| **Current liabilities** |  |  |
| Borrowings | **19** | 83 |
| Lease liabilities | **59** | 76 |
| Environmental rehabilitation and other provisions  | **131** | 109 |
| Trade and other payables | **1001** | 957 |
| Taxation | **377** | 277 |
| Bank overdraft | **23** | 28 |
| Liabilities held for sale <sup>(2)</sup> | **10** |  |
|  | **1620** | 1530 |
| **Total liabilities** | **5162** | 4717 |
| **Total equity and liabilities** | **15078** | 13230 |

---

<sup>(1)</sup> *Contingent consideration, which was previously reported as part of trade, other receivables and other assets, is now reported separately on the statement of financial* 

*position as these assets have a different measurement basis. Comparative periods have been reclassified. The increase in contingent consideration from December* 

*2024 is mainly as a result of contingent consideration recognised for the sale of the Doropo and ABC projects of $38m and the sale of MSG of $44m.*

<sup>(2)</sup> *The assets and liabilities held for sale relate to the La Colosa project being classified as a disposal group held for sale.*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 22 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I FINANCIAL RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

STATEMENT OF CASH FLOWS

---

| | | | | |
|:---|:---|:---|:---|:---|
| GROUP STATEMENT OF CASH FLOWS | **Quarter** | Quarter | **Year** | Year |
| GROUP STATEMENT OF CASH FLOWS | **ended** | ended | **ended** | ended |
| GROUP STATEMENT OF CASH FLOWS | **Dec** | Dec | **Dec** | Dec |
| GROUP STATEMENT OF CASH FLOWS | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **Cash flows from operating activities** |  |  |  |  |
| Cash generated from operations | **1902** | 713 | **5409** | 2063 |
| Dividends received from joint ventures | **67** | 44 | **122** | 88 |
| Taxation refund | **1** |  | **11** | 6 |
| Taxation paid | **(348)** | (67) | **(758)** | (189) |
| Net cash inflow from operating activities | **1622** | 690 | **4784** | 1968 |
| **Cash flows from investing activities** |  |  |  |  |
| Capital expenditure on tangible and intangible assets | **(454)** | (333) | **(1449)** | (1090) |
| Acquisition of assets <sup>(1)</sup> | **(158)** |  | **(158)** |  |
| Dividends from associates and other investments | **—** | 12 | **—** | 12 |
| Proceeds from disposal of tangible assets | **14** | 15 | **14** | 16 |
| Proceeds from disposal of subsidiary, net of cash disposed<sup>(2)</sup> | **52** |  | **77** |  |
| Deferred compensation received | **—** |  | **19** | 5 |
| Other investments and assets acquired | **—** | (1) | **(3)** | (30) |
| Proceeds on disposal of investment <sup>(3)</sup> | **—** |  | **70** |  |
| Payment upon disposal of joint venture and associate | **—** | (2) | **—** | (2) |
| Loans advanced to associates and joint ventures | **—** |  | **—** | (1) |
| Acquisition of subsidiary, net of cash acquired | **—** | 68 | **—** | 68 |
| (Increase) decrease in cash restricted for use | **1** | (10) | **(3)** | 5 |
| Interest received | **24** | 25 | **92** | 106 |
| Repayment of loans advanced to joint ventures | **84** | 10 | **161** | 149 |
| Net cash outflow from investing activities | **(437)** | (216) | **(1180)** | (762) |
| **Cash flows from financing activities** |  |  |  |  |
| Proceeds from borrowings | **—** | 180 | **285** | 655 |
| Repayment of borrowings | **(65)** | (338) | **(245)** | (909) |
| Repayment of lease liabilities | **(23)** | (23) | **(92)** | (91) |
| Finance costs – borrowings | **(89)** | (36) | **(164)** | (126) |
| Finance costs – leases | **(5)** | (3) | **(17)** | (11) |
| Other borrowing costs | **—** |  | **—** | (1) |
| Dividends paid | **(670)** | (65) | **(1871)** | (244) |
| Net cash outflow from financing activities | **(852)** | (285) | **(2104)** | (727) |
| **Net increase in cash and cash equivalents** | **333** | 189 | **1500** | 479 |
| Translation | **5** | (17) | **(15)** | (37) |
| Reclassification to disposal group held for sale | **12** |  | **—** |  |
| Cash and cash equivalents at beginning of period (net of bank overdraft) | **2532** | 1225 | **1397** | 955 |
| **Cash and cash equivalents at end of period (net of bank overdraft)**  | **2882** | 1397 | **2882** | 1397 |

---

<sup>(1)</sup> *The acquisition of assets relates to the exploration assets of Augusta Gold Corp.*

<sup>(2)</sup> *The proceeds relate to the disposal of the Doropo project ($25m) and the disposal of MSG, net of cash disposed ($52m).*

<sup>(3)</sup> *The proceeds relate to the disposal of the investment in G2 Goldfields Inc.*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 23 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I SEGMENTAL** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

GOLD AND BY-PRODUCT INCOME

AngloGold Ashanti's operating segments are being reported based on the financial information regularly provided to the Chief

Executive Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual

members of the Executive Committee are responsible for geographic regions of the business. Under the Group's operating model,

the financial results and the composition of the operating segments are reported to the CODM per geographical region and the

Projects segment which comprises all the major non-sustaining capital projects with the potential to be developed into operating

entities. In addition to the geographical reportable segments structure, the Group has voluntarily disaggregated and disclosed the

financial information on a line-by-line basis for each mining operation to facilitate comparability of mine performance.

---

| | | | | |
|:---|:---|:---|:---|:---|
| GOLD INCOME | **Quarter** | Quarter | **Year** | Year |
| GOLD INCOME | **ended** | ended | **ended** | ended |
| GOLD INCOME | **Dec** | Dec | **Dec** | Dec |
| GOLD INCOME | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **2183** | 1114 | **7152** | 3756 |
| Kibali - Attributable 45% | **327** | 208 | **1038** | 741 |
| Iduapriem | **224** | 125 | **704** | 563 |
| Obuasi | **328** | 157 | **942** | 530 |
| Siguiri | **328** | 182 | **990** | 653 |
| Geita | **484** | 323 | **1730** | 1150 |
| Sukari | **492** | 119 | **1748** | 119 |
| **AUSTRALIA** | **650** | 441 | **1876** | 1394 |
| Sunrise Dam | **247** | 176 | **789** | 626 |
| Tropicana - Attributable 70% | **403** | 265 | **1087** | 768 |
| **AMERICAS** | **517** | 369 | **1740** | 1264 |
| Cerro Vanguardia | **148** | 116 | **612** | 439 |
| AngloGold Ashanti Mineração <sup>(1)</sup> | **323** | 195 | **946** | 634 |
| Serra Grande | **46** | 58 | **182** | 191 |
|  | **3350** | 1924 | **10768** | 6414 |
| Equity-accounted joint venture included above | **(327)** | (208) | **(1038)** | (741) |
|  | **3023** | 1716 | **9730** | 5673 |
| <sup>(1)</sup>*Includes income from sale of gold concentrate.* |  |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| BY-PRODUCT REVENUE |  |  |  |  |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **3** | 1 | **11** | 6 |
| Kibali - Attributable 45% | **—** |  | **2** | 2 |
| Obuasi | **—** |  | **1** | 1 |
| Siguiri | **—** |  | **—** | 1 |
| Geita | **1** | 1 | **4** | 2 |
| Sukari | **2** |  | **4** |  |
| **AUSTRALIA** | **2** | 1 | **6** | 5 |
| Sunrise Dam | **1** |  | **2** | 2 |
| Tropicana - Attributable 70% | **1** | 1 | **4** | 3 |
| **AMERICAS** | **40** | 32 | **148** | 111 |
| Cerro Vanguardia | **36** | 30 | **130** | 109 |
| AngloGold Ashanti Mineração | **4** | 2 | **18** | 2 |
|  | **45** | 34 | **165** | 122 |
| Equity-accounted joint venture included above | **—** |  | **(2)** | (2) |
|  | **45** | 34 | **163** | 120 |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 24 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I SEGMENTAL** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

COST OF SALES AND GROSS PROFIT

---

| | | | | |
|:---|:---|:---|:---|:---|
| COST OF SALES | **Quarter** | Quarter | **Year** | Year |
| COST OF SALES | **ended** | ended | **ended** | ended |
| COST OF SALES | **Dec** | Dec | **Dec** | Dec |
| COST OF SALES | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **989** | 658 | **3466** | 2304 |
| Kibali - Attributable 45% | **96** | 101 | **432** | 380 |
| Iduapriem | **108** | 91 | **424** | 351 |
| Obuasi | **138** | 101 | **458** | 360 |
| Siguiri | **173** | 134 | **591** | 518 |
| Geita | **253** | 148 | **773** | 612 |
| Sukari | **221** | 83 | **789** | 83 |
| Administration and other | **—** |  | **(1)** |  |
| **AUSTRALIA** | **285** | 259 | **1009** | 945 |
| Sunrise Dam | **116** | 114 | **442** | 430 |
| Tropicana - Attributable 70% | **158** | 135 | **527** | 479 |
| Administration and other | **11** | 10 | **40** | 36 |
| **AMERICAS** | **245** | 230 | **973** | 858 |
| Cerro Vanguardia | **94** | 99 | **441** | 368 |
| AngloGold Ashanti Mineração | **120** | 98 | **391** | 352 |
| Serra Grande | **31** | 32 | **139** | 136 |
| Administration and other | **—** | 1 | **2** | 2 |
| **CORPORATE AND OTHER** | **2** | (3) | **6** | (1) |
|  | **1521** | 1144 | **5454** | 4106 |
| Equity-accounted joint venture included above | **(96)** | (101) | **(432)** | (380) |
|  | **1425** | 1043 | **5022** | 3726 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| GROSS PROFIT <sup>(1)</sup> |  |  |  |  |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **1197** | 458 | **3696** | 1459 |
| Kibali - Attributable 45% | **231** | 107 | **608** | 363 |
| Iduapriem | **117** | 34 | **280** | 213 |
| Obuasi | **190** | 57 | **485** | 171 |
| Siguiri | **156** | 48 | **400** | 136 |
| Geita | **231** | 176 | **960** | 540 |
| Sukari | **272** | 36 | **962** | 36 |
| Administration and other | **—** |  | **1** |  |
| **AUSTRALIA** | **367** | 184 | **874** | 453 |
| Sunrise Dam | **132** | 63 | **350** | 197 |
| Tropicana - Attributable 70% | **246** | 131 | **564** | 292 |
| Administration and other | **(11)** | (10) | **(40)** | (36) |
| **AMERICAS** | **312** | 169 | **915** | 517 |
| Cerro Vanguardia | **90** | 47 | **301** | 180 |
| AngloGold Ashanti Mineração | **207** | 98 | **573** | 283 |
| Serra Grande | **15** | 25 | **43** | 56 |
| Administration and other | **—** | (1) | **(2)** | (2) |
| **CORPORATE AND OTHER** | **(2)** | 3 | **(6)** | 1 |
|  | **1874** | 814 | **5479** | 2430 |
| Equity-accounted joint venture included above | **(231)** | (107) | **(608)** | (363) |
|  | **1643** | 707 | **4871** | 2067 |
| <sup>(1)</sup>*The Group's segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit before* <br>*taxation, refer to the Group income statement.* | <sup>(1)</sup>*The Group's segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit before* <br>*taxation, refer to the Group income statement.* | <sup>(1)</sup>*The Group's segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit before* <br>*taxation, refer to the Group income statement.* | <sup>(1)</sup>*The Group's segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit before* <br>*taxation, refer to the Group income statement.* | <sup>(1)</sup>*The Group's segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit before* <br>*taxation, refer to the Group income statement.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 25 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I SEGMENTAL** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

AMORTISATION AND CAPITAL EXPENDITURE

---

| | | | | |
|:---|:---|:---|:---|:---|
| AMORTISATION | **Quarter** | Quarter | **Year** | Year |
| AMORTISATION | **ended** | ended | **ended** | ended |
| AMORTISATION | **Dec** | Dec | **Dec** | Dec |
| AMORTISATION | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **343** | 142 | **1006** | 455 |
| Kibali - Attributable 45% | **28** | 25 | **107** | 92 |
| Iduapriem | **28** | 19 | **113** | 79 |
| Obuasi | **21** | 22 | **87** | 75 |
| Siguiri | **18** | 14 | **64** | 51 |
| Geita | **127** | 42 | **256** | 138 |
| Sukari | **121** | 20 | **379** | 20 |
| **AUSTRALIA**  | **59** | 58 | **181** | 190 |
| Sunrise Dam | **22** | 19 | **67** | 77 |
| Tropicana - Attributable 70% | **37** | 39 | **113** | 112 |
| Administration and other | **—** |  | **1** | 1 |
| **AMERICAS** | **47** | 62 | **203** | 195 |
| Cerro Vanguardia | **8** | 21 | **68** | 61 |
| AngloGold Ashanti Mineração | **31** | 33 | **105** | 112 |
| Serra Grande | **8** | 8 | **30** | 22 |
| **CORPORATE AND OTHER** | **1** | 1 | **4** | 4 |
|  | **450** | 263 | **1394** | 844 |
| Equity-accounted joint venture included above | **(28)** | (25) | **(107)** | (92) |
|  | **422** | 238 | **1287** | 752 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE |  |  |  |  |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **AFRICA** | **354** | 247 | **1135** | 814 |
| Kibali - Attributable 45% | **41** | 36 | **151** | 125 |
| Iduapriem | **63** | 50 | **173** | 169 |
| Obuasi | **64** | 54 | **209** | 202 |
| Siguiri | **50** | 29 | **102** | 102 |
| Geita | **58** | 58 | **238** | 196 |
| Sukari | **78** | 20 | **262** | 20 |
| **AUSTRALIA** | **61** | 40 | **185** | 153 |
| Sunrise Dam | **29** | 26 | **87** | 65 |
| Tropicana - Attributable 70% | **32** | 14 | **98** | 88 |
| **AMERICAS** | **71** | 66 | **236** | 209 |
| Cerro Vanguardia | **21** | 24 | **64** | 71 |
| AngloGold Ashanti Mineração | **46** | 30 | **135** | 98 |
| Serra Grande | **4** | 12 | **37** | 40 |
| **PROJECTS** | **8** | 16 | **42** | 38 |
| Colombian projects | **1** | 8 | **13** | 13 |
| North American projects | **7** | 8 | **29** | 25 |
| **CORPORATE AND OTHER** | **1** |  | **2** | 1 |
|  | **495** | 369 | **1600** | 1215 |
| Equity-accounted joint venture included above | **(41)** | (36) | **(151)** | (125) |
|  | **454** | 333 | **1449** | 1090 |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 26 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I SEGMENTAL** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

TOTAL ASSETS

---

| | | |
|:---|:---|:---|
| TOTAL ASSETS | **As at** | As at |
| TOTAL ASSETS | **Dec** | Dec |
| TOTAL ASSETS | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited<br>Revised<br>|
| **AFRICA** | **9294** | 9081 |
| Kibali - Attributable 45% | **981** | 950 |
| Iduapriem | **668** | 579 |
| Obuasi | **1617** | 1481 |
| Siguiri | **700** | 591 |
| Geita | **1283** | 1231 |
| Sukari | **4034** | 4243 |
| Administration and other | **11** | 6 |
| **AUSTRALIA**  | **1115** | 845 |
| **AMERICAS** | **1712** | 1533 |
| Cerro Vanguardia | **560** | 626 |
| AngloGold Ashanti Mineração | **1080** | 728 |
| Serra Grande | **—** | 161 |
| Administration and other | **72** | 18 |
| **PROJECTS**  | **975** | 991 |
| Colombian projects | **117** | 207 |
| North American projects | **858** | 784 |
| **CORPORATE AND OTHER** | **1982** | 780 |
|  | **15078** | 13230 |

---

---

| | | |
|:---|:---|:---|
| **By order of the Board** | **By order of the Board** | **By order of the Board** |
| **J TILK**<br>*Chairman*<br>| **A CALDERON**<br>*Chief Executive Officer*<br>| **G DORAN**<br>*Chief Financial Officer*<br>|
| 19 February 2026 |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 27 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

**Year in review**

The AngloGold Ashanti gold Measured and Indicated Mineral

Resource increased from 67.1Moz at 31 December 2024 to

68.0Moz at 31 December 2025. Additions included 1.3Moz

from the acquisition of the Reward and Bullfrog assets from

Augusta Gold Corp. ("Augusta Gold"), exploration and

modelling changes of 1.0Moz and economic assumptions of

0.4Moz. The additions were partially offset by reductions

which included disposals of the Doropo, ABC and Serra

Grande assets of 1.7Moz and other factors of 0.1Moz. As a

result, the net year-on-year gold Measured and Indicated

Mineral Resource addition was 0.9Moz.

The AngloGold Ashanti gold Inferred Mineral Resource

decreased from 55.0Moz at 31 December 2024 to 49.3Moz

at 31 December 2025. Additions included exploration and

modelling changes of 3.4Moz (excluding the Arthur Gold

Project) and 0.3Moz from the acquisition of the Reward and

Bullfrog assets from Augusta Gold and other factors of

0.2Moz. The additions were fully offset by exploration and

modelling reductions of 5.8Moz at the Arthur Gold Project

due to the development of a new Mineral Reserve, disposals

of the Doropo, ABC and Serra Grande assets of 3.3Moz and

economic assumptions of 0.5Moz. As a result, the net year-

on-year gold Inferred Mineral Resource reduction was

5.7Moz.

The AngloGold Ashanti copper Mineral Resource remained

unchanged at 1.32Mt (2,902Mlb) Measured and Indicated

Mineral Resource and 1.47Mt (3,231Mlb) Inferred Mineral

Resource at 31 December 2025 as compared to

31 December 2024, as a feasibility study optimisation is

ongoing and no additional exploration has been completed

at Quebradona.

The AngloGold Ashanti gold Mineral Reserve increased from

31.2Moz at 31 December 2024 to 36.5Moz at 31 December

2025. Additions consisted of exploration and modelling

changes of 7.3Moz, including the first-time reporting of the

Arthur Gold Project Mineral Reserve of 4.9Moz, acquisition

of the Reward assets from Augusta Gold of 0.4Moz,

economic assumptions of 2.1Moz and other factors of

0.2Moz. The additions were partially offset by reductions that

included depletion of 2.7Moz and disposals of the Doropo

and Serra Grande assets of 2.0Moz. As a result, the net

year-on-year gold Mineral Reserve addition was 5.3Moz.

The AngloGold Ashanti copper Mineral Reserve remained

unchanged at 1.47Mt (3,250Mlb) at 31 December 2025 as

compared to 31 December 2024, as a feasibility study

optimisation is ongoing and no additional exploration has

been completed at Quebradona.

**Notes on the Mineral Resource and Mineral** 

**Reserve estimates**

The Mineral Resource and Mineral Reserve stated herein

were prepared in compliance with Subpart 1300 of

Regulation S-K (17 CFR § 229.1300) ("Regulation S-K

1300"). Refer to Item 1300 (Definitions) of Regulation S-K for

the meaning of the terms used in AngloGold Ashanti's

Mineral Resource and Mineral Reserve reporting. The

Mineral Resource and Mineral Reserve represent the

amount of gold, copper, silver, sulphur and molybdenum

estimated at 31 December 2025 and are based on

information available at the time of estimation. Such

estimates are, or will be, to a large extent, based on the

prices of the respective commodities and interpretations of

geologic data obtained from drill holes and other exploration

techniques, which data may not necessarily be indicative of

future results.The Mineral Resource and Mineral Reserve

estimates are published at 31 December 2025, taking into

account economic assumptions, changes to future

production and capital costs, depletion, additions as well as

any acquisitions or disposals during 2025. The legal tenure

of each material property has been verified to the

satisfaction of the accountable Qualified Person and all of

the Mineral Reserve has been confirmed to be covered by

the required mining permits or there exists a realistic

expectation, based on applicable laws and regulations, that

issuance of permits or resolution of legal issues necessary

for mining and processing at a particular deposit will be

accomplished in the ordinary course and in a timeframe

consistent with AngloGold Ashanti's (or its joint venture

partners') current mine plans. For the Mineral Reserve, the

term "economically viable" means that profitable extraction

or production has been established or analytically

demonstrated in, at a minimum, a pre-feasibility study, to be

economically viable under reasonable investment and

market assumptions. Mineral Reserve is subdivided and

reported, in order of increasing geoscientific knowledge and

confidence, into Probable and Proven Mineral Reserve

categories. Mineral Reserve is aggregated from the

Probable and Proven Mineral Reserve categories. Ounces of

gold or silver or pounds of copper or sulphur included in the

Probable and Proven Mineral Reserve are estimated and

reported as delivered to plant (i.e., the point where material

is delivered to the processing facility) and exclude losses

during metallurgical treatment. In compliance with

Regulation S-K 1300, the Mineral Resource herein is

reported as exclusive of the Mineral Reserve before dilution

and other factors are applied, unless otherwise stated.

![a08sukari_v4.jpg](a08sukari_v4.jpg)

*Sukari, Egypt*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 28 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

Mineral Resource is subdivided and reported, in order of

increasing geoscientific knowledge and confidence, into

Inferred, Indicated and Measured Mineral Resource

categories. Ounces of gold or silver or pounds of copper,

sulphur or molybdenum included in the Inferred, Indicated

and Measured Mineral Resource are those contained in situ

prior to losses during extraction and processing. While it

would be reasonable to expect that the majority of Inferred

Mineral Resource would upgrade to Indicated Mineral

Resource with continued exploration, due to the uncertainty

of Inferred Mineral Resource, it should not be assumed that

such upgrading will always occur.

If estimations must be revised due to significantly lower

commodity prices, increases in operating costs, reductions in

metallurgical recovery or other factors, the Mineral Resource

or Mineral Reserve may not be mined or processed

profitably. In addition, material write-downs of AngloGold

Ashanti's investment in its mining properties may be

required, including impacts on goodwill, as well as increased

amortisation, reclamation and closure charges. If AngloGold

Ashanti determines that certain parts of its Mineral Resource

or Mineral Reserve have become uneconomic, this may

ultimately lead to a reduction in its reported aggregate

Mineral Resource or Mineral Reserve, respectively.

Consequently, if AngloGold Ashanti's actual Mineral

Resource and Mineral Reserve is less than current

estimates, its business, prospects, results of operations and

financial position may be materially impaired.

Pre-feasibility and feasibility studies for undeveloped ore

bodies present estimated capital expenditure and operating

costs based on anticipated tonnage and grades of ore to be

mined and processed. Other factors underlying the

estimations include, among others, the predicted

configuration of the ore body, anticipated metal recovery

rates, and estimated costs of operating and processing

equipment and facilities. Actual operating and capital

expenditure cost and economic returns on projects may

differ significantly from original estimates.

Further, it may take many years from the initial phases of

exploration until commencement of production, during which

time, the economic feasibility of production may change. The

Mineral Resource is subject to further exploration and

development, and is subject to additional risks, and no

assurance can be given that they will eventually convert to

Mineral Reserve.

For additional information, refer to Table 1 (Summary Mineral

Resource) and Table 2 (Summary Mineral Reserve) to

Paragraph (b) of Item 1303 (Summary disclosure) of

Regulation S-K below. These summary tables will also be

presented in AngloGold Ashanti's annual report on Form 20-

F for the financial year ended 31 December 2025 to be filed

with the SEC. These summary tables include each class of

Mineral Resource (Inferred, Indicated and Measured)

together with total Measured and Indicated Mineral

Resource, and each class of Mineral Reserve (Probable and

Proven) together with total Mineral Reserve. The Mineral

Resource at the end of the financial year ended

31 December 2025 was estimated using a gold price of

$2,000/oz (2024: $1,900/oz), a copper price of $3.50/lb

(2024: $3.50/lb), a silver price of $23.00/oz (2024: $23.00/

oz) and a molybdenum price of $12.00/lb (2024: $12.00/lb),

unless otherwise stated. The Mineral Reserve at the end of

the financial year ended 31 December 2025 was estimated

using a gold price of $1,700/oz (2024: $1,600/oz), a copper

price of $3.10/lb (2024: $2.90/lb) and a silver price of $19.50/

oz (2024: $19.50/oz), unless otherwise stated. The net

difference between the Mineral Resource and Mineral

Reserve at the end of the last completed financial year and

the preceding financial year will be detailed for material

properties, if applicable, in AngloGold Ashanti's annual report

on Form 20-F for the financial year ended 31 December

2025 to be filed with the SEC.

*<u>Notes</u>*

*The Mineral Resource exclusive of Mineral Reserve is defined as* 

*the inclusive Mineral Resource less the Mineral Reserve before* 

*dilution and other factors are applied.*![a01iduapriem_op2xv4.jpg](a01iduapriem_op2xv4.jpg)

*Iduapriem, Ghana*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 29 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

The below summary table is prepared in accordance with Table 1 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Resource for gold at the end of the financial year ended 31 December 2025, based

on an estimated gold price of $2,000/oz, unless otherwise stated.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESOURCE<sup>(1)</sup> | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESOURCE<sup>(1)</sup> | **Measured** | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| GOLD | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Gold** | **Contained Gold** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Gold** | **Contained Gold** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Gold** | **Contained Gold** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Gold** | **Contained Gold** |
| GOLD | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** |
| **Africa Region** | **63.60** | **1.88** | **119.57** | **3.84** | **410.92** | **1.74** | **715.04** | **22.99** | **474.52** | **1.76** | **834.61** | **26.83** | **320.86** | **2.29** | **734.80** | **23.62** |
| **Democratic Republic of the Congo** | **5.92** | **2.86** | **16.93** | **0.54** | **27.16** | **2.30** | **62.36** | **2.01** | **33.08** | **2.40** | **79.29** | **2.55** | **21.98** | **2.10** | **46.11** | **1.48** |
| Kibali (45%) <sup>(2)(4)(13)</sup> | 5.92 | 2.86 | 16.93 | 0.54 | 27.16 | 2.30 | 62.36 | 2.01 | 33.08 | 2.40 | 79.29 | 2.55 | 21.98 | 2.10 | 46.11 | 1.48 |
| **Ghana** | **6.18** | **7.14** | **44.18** | **1.42** | **118.32** | **2.88** | **340.24** | **10.94** | **124.51** | **3.09** | **384.42** | **12.36** | **102.58** | **4.24** | **435.24** | **13.99** |
| Iduapriem <sup>(13)</sup> | 0.07 | 0.72 | 0.05 | 0.00 | 74.60 | 1.44 | 107.19 | 3.45 | 74.67 | 1.44 | 107.24 | 3.45 | 58.64 | 1.57 | 92.29 | 2.97 |
| Obuasi <sup>(5)(13)</sup> | 6.12 | 7.21 | 44.13 | 1.42 | 43.72 | 5.33 | 233.05 | 7.49 | 49.84 | 5.56 | 277.17 | 8.91 | 43.93 | 7.81 | 342.95 | 11.03 |
| **Guinea** | **—** | **—** | **—** | **—** | **154.81** | **1.06** | **164.14** | **5.28** | **154.81** | **1.06** | **164.14** | **5.28** | **112.74** | **1.14** | **128.42** | **4.13** |
| Siguiri (85%) <sup>(2)(13)</sup> |  | **—** |  |  | 154.81 | 1.06 | 164.14 | 5.28 | 154.81 | 1.06 | 164.14 | 5.28 | 112.74 | 1.14 | 128.42 | 4.13 |
| **Tanzania** | **9.90** | **2.47** | **24.51** | **0.79** | **70.15** | **1.77** | **124.31** | **4.00** | **80.05** | **1.86** | **148.82** | **4.78** | **53.22** | **2.01** | **107.09** | **3.44** |
| Geita <sup>(6)(13)</sup> | 9.90 | 2.47 | 24.51 | 0.79 | 70.15 | 1.77 | 124.31 | 4.00 | 80.05 | 1.86 | 148.82 | 4.78 | 53.22 | 2.01 | 107.09 | 3.44 |
| **Egypt** | **41.60** | **0.82** | **33.96** | **1.09** | **40.48** | **0.59** | **23.98** | **0.77** | **82.08** | **0.71** | **57.94** | **1.86** | **30.34** | **0.59** | **17.94** | **0.58** |
| Sukari (50%) <sup>(2)(8)(13)</sup> | 41.60 | 0.82 | 33.96 | 1.09 | 40.48 | 0.59 | 23.98 | 0.77 | 82.08 | 0.71 | 57.94 | 1.86 | 30.34 | 0.59 | 17.94 | 0.58 |
| **Americas Region** | **16.97** | **4.16** | **70.55** | **2.27** | **27.22** | **3.33** | **90.56** | **2.91** | **44.19** | **3.65** | **161.12** | **5.18** | **41.60** | **3.93** | **163.60** | **5.26** |
| **Argentina** | **6.06** | **3.26** | **19.78** | **0.64** | **7.63** | **3.08** | **23.52** | **0.76** | **13.69** | **3.16** | **43.30** | **1.39** | **3.15** | **3.32** | **10.47** | **0.34** |
| Cerro Vanguardia (92.5%) <sup>(2)(13)</sup> | 6.06 | 3.26 | 19.78 | 0.64 | 7.63 | 3.08 | 23.52 | 0.76 | 13.69 | 3.16 | 43.30 | 1.39 | 3.15 | 3.32 | 10.47 | 0.34 |
| **Brazil** | **10.91** | **4.66** | **50.78** | **1.63** | **19.60** | **3.42** | **67.04** | **2.16** | **30.50** | **3.86** | **117.82** | **3.79** | **38.45** | **3.98** | **153.13** | **4.92** |
| AGA Mineração - Córrego do Sítio <sup>(9)</sup> | 3.03 | 3.31 | 10.04 | 0.32 | 7.80 | 3.16 | 24.66 | 0.79 | 10.83 | 3.20 | 34.70 | 1.12 | 20.45 | 3.94 | 80.56 | 2.59 |
| AGA Mineração - Cuiabá <sup>(13)</sup> | 5.52 | 6.29 | 34.71 | 1.12 | 6.20 | 4.93 | 30.57 | 0.98 | 11.72 | 5.57 | 65.29 | 2.10 | 11.87 | 5.01 | 59.49 | 1.91 |
| AGA Mineração - Lamego <sup>(13)</sup> | 2.35 | 2.56 | 6.02 | 0.19 | 5.60 | 2.11 | 11.81 | 0.38 | 7.95 | 2.24 | 17.83 | 0.57 | 6.13 | 2.13 | 13.07 | 0.42 |
| **Australia Region** | **41.71** | **1.89** | **78.70** | **2.53** | **31.28** | **1.85** | **57.88** | **1.86** | **72.99** | **1.87** | **136.58** | **4.39** | **51.55** | **2.19** | **113.07** | **3.64** |
| Sunrise Dam <sup>(13)</sup> | 32.16 | 1.91 | 61.53 | 1.98 | 24.83 | 1.74 | 43.23 | 1.39 | 57.00 | 1.84 | 104.77 | 3.37 | 31.77 | 2.04 | 64.80 | 2.08 |
| Butcher Well (70%) <sup>(2)(11)</sup> |  |  |  |  |  |  |  |  |  |  |  |  | 2.62 | 3.93 | 10.28 | 0.33 |
| Tropicana (70%) <sup>(2)(13)</sup> | 9.55 | 1.80 | 17.17 | 0.55 | 6.45 | 2.27 | 14.65 | 0.47 | 15.99 | 1.99 | 31.81 | 1.02 | 17.16 | 2.21 | 37.98 | 1.22 |
| **Projects** | **76.03** | **0.44** | **33.54** | **1.08** | **1240.72** | **0.77** | **949.62** | **30.53** | **1316.75** | **0.75** | **983.16** | **31.61** | **905.33** | **0.58** | **523.33** | **16.83** |
| **Colombia** | **45.15** | **0.37** | **16.93** | **0.54** | **982.40** | **0.79** | **776.20** | **24.96** | **1027.55** | **0.77** | **793.13** | **25.50** | **523.83** | **0.43** | **225.50** | **7.25** |
| La Colosa <sup>(10)(11)</sup> |  |  |  |  | 833.49 | 0.87 | 726.31 | 23.35 | 833.49 | 0.87 | 726.31 | 23.35 | 217.89 | 0.71 | 154.86 | 4.98 |
| Quebradona <sup>(12)(14)</sup> | 45.15 | 0.37 | 16.93 | 0.54 | 148.91 | 0.34 | 49.89 | 1.60 | 194.06 | 0.34 | 66.82 | 2.15 | 305.94 | 0.23 | 70.64 | 2.27 |
| **United States of America** | **30.88** | **0.54** | **16.61** | **0.53** | **258.31** | **0.67** | **173.41** | **5.58** | **289.20** | **0.66** | **190.03** | **6.11** | **381.50** | **0.78** | **297.83** | **9.58** |
| North Bullfrog <sup>(12)</sup> |  |  |  |  | 49.85 | 0.27 | 13.22 | 0.43 | 49.85 | 0.27 | 13.22 | 0.43 | 40.28 | 0.24 | 9.52 | 0.31 |
| Arthur Gold <sup>(7)(12)</sup> |  |  |  |  | 164.14 | 0.84 | 137.30 | 4.41 | 164.14 | 0.84 | 137.30 | 4.41 | 219.79 | 0.90 | 197.33 | 6.34 |
| Nevada Regional Deposits <sup>(15)</sup> | 30.88 | 0.54 | 16.61 | 0.53 | 44.32 | 0.52 | 22.89 | 0.74 | 75.20 | 0.53 | 39.51 | 1.27 | 121.43 | 0.75 | 90.97 | 2.92 |
| **AngloGold Ashanti Total** | **198.31** | **1.52** | **302.36** | **9.72** | **1710.14** | **1.06** | **1813.10** | **58.29** | **1908.46** | **1.11** | **2115.47** | **68.01** | **1319.34** | **1.16** | **1534.79** | **49.34** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations. The Mineral Resource estimates with respect to our material properties have been prepared by the Qualified Persons (employed by

AngloGold Ashanti unless otherwise stated). The net difference between the Mineral Resource at the end of the last completed financial year and the preceding financial year will be detailed for material properties, if applicable, in AngloGold

Ashanti's annual report on Form 20-F for the financial year ended 31 December 2025 to be filed with the SEC. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports

tonnage, grade and content for gold to two decimals. All ounces are Troy ounces. "Moz" refers to million ounces. The Mineral Resource tonnages and grades are reported *in situ* and constrained to meet the requirement for reasonable

prospects of economic extraction by volumes created through a mine shape optimiser process for underground or within an economically optimised pit shell for open pit and stockpiled material is reported as broken material. The Serra

Grande mine in Brazil and the Doropo and ABC projects in Côte d'Ivoire were sold in 2025.

<sup>(1)</sup> All disclosure of Mineral Resource is exclusive of Mineral Reserve. The Mineral Resource exclusive of Mineral Reserve is defined as the inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 30 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

<sup>(2)</sup> Mineral Resource attributable to AngloGold Ashanti's percentage interest shown.

<sup>(3)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(4)</sup> Kibali is operated by Barrick Mining Corporation ("Barrick"). The Mineral Resource estimate was prepared through the Kibali joint venture's estimation and governance processes and under the supervision of Barrick's Qualified Persons. In 2025, a

cut-off grade range from 0.59g/t to 0.82g/t (varying according to area and weathering domain) with an overall tonnage weighted average cut-off grade of 0.71g/t was applied to the open pits, a cut-off grade range from 0.45g/t to 0.49g/t (varying

according to area and weathering domain) was applied to the stockpiles, and a cut-off grade of 0.91g/t was applied to the underground. In 2025, a metallurgical recovery factor range from 75.5% to 91.0% (varying according to area and

weathering domain) was applied to the open pits, stockpiles, and underground for gold. The Qualified Person responsible for the Kibali Mineral Resource is Richard Peattie, FAusIMM, employed by Barrick.

<sup>(5)</sup> In 2025, for Obuasi, a cut-off grade of 0.94g/t was applied to the open pit, and a cut-off grade range from 3.22g/t to 3.96g/t (varying according to area) was applied to the underground. In 2025, a metallurgical recovery factor of 88.0% was applied

to the open pit and underground for gold. The Qualified Person responsible for the Obuasi Mineral Resource is Eric Kofi Owusu Acheampong, MAusIMM (CP).

<sup>(6)</sup> In 2025, for Geita, a cut-off grade range from 0.50g/t to 1.20g/t (varying according to area) was applied to the open pit, and a cut-off grade range from 0.88g/t to 2.52g/t (varying according to area) was applied to the underground. In 2025, a

metallurgical recovery factor range from 43.50% to 97.00% (varying according to the material type) was applied to the open pit, a metallurgical recovery factor of 92.80% was applied to the stockpile, and a metallurgical recovery factor range

from 78.02% to 93.37% (varying according to area) was applied to the underground for gold. The Qualified Person responsible for the Geita Mineral Resource is Janeth Luponelo, SME RM.

<sup>(7)</sup> The gold Mineral Resource of the Arthur Gold Project (previously Expanded Silicon) includes the Silicon and Merlin deposits. The Merlin gold Mineral Resource is based on a gold price of $2,150/oz. In 2025, for Merlin, a cut-off grade range from

0.19g/t to 0.30g/t (varying according to grade and material type) was applied to the open pit. In 2025, for Merlin, a metallurgical recovery factor range from 63.61% to 95.00% (varying according to grade and material type) was applied to the

open pit for gold. The Silicon gold Mineral Resource is based on a gold price of $1,750/oz. In 2025, for Silicon, a cut-off grade of 0.14g/t was applied to the open pit. In 2025, for Silicon, a metallurgical recovery factor range from 46.0% to 79.0%

(varying according to grade and material type) was applied to the open pit for gold. The Qualified Person responsible for the Arthur Gold Project Mineral Resource is Geoffrey Gushée, FAusIMM.

<sup>(8)</sup> In 2025, for Sukari, a cut-off grade of 0.20g/t was applied to the open pit, a cut-off grade of 0.43g/t was applied to the stockpiles, and a cut-off grade of 1.20g/t was applied to the underground. In 2025, a metallurgical recovery factor of 89.50% was

applied to the open pit and underground, and a metallurgical recovery factor of 86.56% was applied to the stockpiles for gold. Open pit gold Mineral Resource is based on a gold price of $2,150/oz. Stockpile gold Mineral Resource is based on a

gold price of $1,700/oz. The Qualified Person responsible for the Sukari Mineral Resource is Doxel Mutunda, MAIG.

<sup>(9)</sup> The Córrego do Sítio ("CdS") operation was placed on care and maintenance in August 2023. The Mineral Resource at CdS is based on a gold price of $1,750/oz.

<sup>(10)</sup> The La Colosa gold Mineral Resource is based on a gold price of $1,400/oz. The delineation of the Los Nevados Páramo by Resolution 1987/2016 in November 2016 is considered a risk or uncertainty to the gold Mineral Resource estimate, and

Resolution 1987/2016 is currently being contested before the Colombian courts. This puts potentially approximately 13.99Moz (50%) of the gold Mineral Resource at risk. The La Colosa project has been classified as held for sale in the

Company's consolidated statement of financial position as at 31 December 2025.

<sup>(11)</sup> Property currently in an exploration stage.

<sup>(12)</sup> Property currently in a development stage.

<sup>(13)</sup> Property currently in a production stage.

<sup>(14)</sup> The Quebradona gold Mineral Resource is based on a gold price of $1,500/oz.

<sup>(15)</sup> The Nevada Regional Deposits gold Mineral Resource includes the deposits of Reward, Bullfrog, Mother Lode, Crown Block (SNA, Secret Pass and Daisy), and the Sterling mine. Reward and Bullfrog were acquired by AngloGold Ashanti through

its acquisition of Augusta Gold in October 2025. No additional work was completed on the Reward and Bullfrog gold Mineral Resource during 2025, and the Qualified Person has not performed sufficient work to support classification of the

estimate as a current gold Mineral Resource.The Reward gold Mineral Resource is currently in a development stage and based on a gold price of $1,950/oz. The Sterling mine gold Mineral Resource is currently on care and maintenance and

based on a gold price of $1,700/oz. The remainder of the gold Mineral Resource in the Nevada Regional Deposits are currently in an exploration stage, where the Mother Lode gold Mineral Resource is based on a gold price of $1,500/oz, the

Crown Block gold Mineral Resource is based on a gold price of $1,700/oz, and the Bullfrog gold Mineral Resource is based on a gold price of $1,550/oz.

The below summary table is prepared in accordance with Table 1 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Resource for copper at the end of the financial year ended 31 December 2025,

based on an estimated copper price of $3.50/lb.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESOURCE<sup>(1)</sup> | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESOURCE<sup>(1)</sup> | **Measured** | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| COPPER | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Copper** | **Contained** <br>**Copper** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Copper** | **Contained** <br>**Copper** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Copper** | **Contained** <br>**Copper** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Copper** | **Contained** <br>**Copper** |
| COPPER | **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>|
| **Projects** | **45.15** | **0.69** | **0.31** | **684** | **148.91** | **0.68** | **1.01** | **2218** | **194.06** | **0.68** | **1.32** | **2902** | **305.94** | **0.48** | **1.47** | **3231** |
| **Colombia** | **45.15** | **0.69** | **0.31** | **684** | **148.91** | **0.68** | **1.01** | **2218** | **194.06** | **0.68** | **1.32** | **2902** | **305.94** | **0.48** | **1.47** | **3231** |
| Quebradona <sup>(3)</sup> | 45.15 | 0.69 | 0.31 | 684 | 148.91 | 0.68 | 1.01 | 2218 | 194.06 | 0.68 | 1.32 | 2902 | 305.94 | 0.48 | 1.47 | 3231 |
| **AngloGold Ashanti Total** | **45.15** | **0.69** | **0.31** | **684** | **148.91** | **0.68** | **1.01** | **2218** | **194.06** | **0.68** | **1.32** | **2902** | **305.94** | **0.48** | **1.47** | **3231** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations. To

reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold

Ashanti reports tonnage and grade to two decimals and content for copper with no decimals. "Mlb" refers to

million pounds. The Mineral Resource tonnages and grades are reported *in situ* and stockpiled material is

reported as broken material.

<sup>(1)</sup> All disclosure of Mineral Resource is exclusive of Mineral Reserve. The Mineral Resource exclusive of

Mineral Reserve is defined as the inclusive Mineral Resource less the Mineral Reserve before dilution

and other factors are applied.

<sup>(2)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(3)</sup> Property currently in a development stage.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 31 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

The below summary table is prepared in accordance with Table 1 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Resource for silver at the end of the financial year ended 31 December 2025,

based on an estimated silver price of $23.00/oz, unless otherwise stated.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESOURCE<sup>(1)</sup> | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESOURCE<sup>(1)</sup> | **Measured** | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| SILVER | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Silver** | **Contained Silver** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Silver** | **Contained Silver** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Silver** | **Contained Silver** | **Tonnes** <br><sup>(3)</sup><br>| **Grade** | **Contained Silver** | **Contained Silver** |
| SILVER | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** |
| **Americas Region** | **6.06** | **65.49** | **396.87** | **12.76** | **7.63** | **75.09** | **572.69** | **18.41** | **13.69** | **70.84** | **969.57** | **31.17** | **3.15** | **105.73** | **333.19** | **10.71** |
| **Argentina** | **6.06** | **65.49** | **396.87** | **12.76** | **7.63** | **75.09** | **572.69** | **18.41** | **13.69** | **70.84** | **969.57** | **31.17** | **3.15** | **105.73** | **333.19** | **10.71** |
| Cerro Vanguardia (92.5%) <sup>(2)(6)</sup> | 6.06 | 65.49 | 396.87 | 12.76 | 7.63 | 75.09 | 572.69 | 18.41 | 13.69 | 70.84 | 969.57 | 31.17 | 3.15 | 105.73 | 333.19 | 10.71 |
| **Projects** | **75.28** | **3.25** | **244.63** | **7.87** | **403.79** | **3.21** | **1297.84** | **41.73** | **479.07** | **3.22** | **1542.47** | **49.59** | **652.80** | **2.61** | **1705.92** | **54.85** |
| **Colombia** | **45.15** | **4.52** | **203.91** | **6.56** | **148.91** | **4.63** | **688.92** | **22.15** | **194.06** | **4.60** | **892.84** | **28.71** | **305.94** | **3.66** | **1121.25** | **36.05** |
| Quebradona <sup>(5)(7)</sup> | 45.15 | 4.52 | 203.91 | 6.56 | 148.91 | 4.63 | 688.92 | 22.15 | 194.06 | 4.60 | 892.84 | 28.71 | 305.94 | 3.66 | 1121.25 | 36.05 |
| **United States of America** | **30.13** | **1.35** | **40.72** | **1.31** | **254.88** | **2.39** | **608.91** | **19.58** | **285.01** | **2.28** | **649.63** | **20.89** | **346.86** | **1.69** | **584.66** | **18.80** |
| North Bullfrog <sup>(5)</sup> |  |  |  |  | 49.85 | 0.28 | 13.95 | 0.45 | 49.85 | 0.28 | 13.95 | 0.45 | 40.28 | 0.32 | 12.80 | 0.41 |
| Arthur Gold <sup>(5)(8)</sup> |  |  |  |  | 164.14 | 3.33 | 546.51 | 17.57 | 164.14 | 3.33 | 546.51 | 17.57 | 219.79 | 2.26 | 496.48 | 15.96 |
| Nevada Regional Deposits <sup>(4)(9)</sup> | 30.13 | 1.35 | 40.72 | 1.31 | 40.88 | 1.18 | 48.44 | 1.56 | 71.01 | 1.26 | 89.16 | 2.87 | 86.79 | 0.87 | 75.38 | 2.42 |
| **AngloGold Ashanti Total** | **81.34** | **7.89** | **641.51** | **20.62** | **411.42** | **4.55** | **1870.53** | **60.14** | **492.76** | **5.10** | **2512.04** | **80.76** | **655.95** | **3.11** | **2039.10** | **65.56** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations.To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage,

grade and content for silver to two decimals.All ounces are Troy ounces. "Moz" refers to million ounces. The Mineral Resource tonnages and grades are reported *in situ* and stockpiled material is reported as broken material. The reported

tonnages for the silver by-product are an outcome from the associated conceptual pit shell or mineable shapes, that have been determined based on the extraction of the primary mineral. The primary mineral for all properties is gold (except

for Quebradona where the primary mineral is copper and a net smelter return (NSR) approach has been adopted). All Qualified Persons are employed by AngloGold Ashanti unless otherwise stated.

<sup>(1)</sup> All disclosure of Mineral Resource is exclusive of Mineral Reserve. The Mineral Resource exclusive of Mineral Reserve is defined as the inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied.

<sup>(2)</sup> Mineral Resource attributable to AngloGold Ashanti's percentage interest shown.

<sup>(3)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(4)</sup> Property currently in an exploration stage.

<sup>(5)</sup> Property currently in a development stage.

<sup>(6)</sup> Property currently in a production stage.

<sup>(7)</sup> The Quebradona silver Mineral Resource is based on a silver price of $25.15/oz.

<sup>(8)</sup> The silver Mineral Resource of the Arthur Gold Project (previously Expanded Silicon) includes the Silicon and Merlin deposits. In 2025, for Merlin, a metallurgical recovery factor range from 10.20% to 22.21% (varying according to grade

and material type) was applied to the open pit for silver. The Silicon silver Mineral Resource is based on a silver price of $26.25/oz. In 2025, for Silicon, a metallurgical recovery factor range from 17.00% to 21.00% (varying according to

grade and material type) was applied to the open pit for silver. The Qualified Person responsible for the Arthur Gold Project Mineral Resource is Geoffrey Gushée, FAusIMM.

<sup>(9)</sup> The Nevada Regional Deposits silver Mineral Resource includes the Mother Lode and Bullfrog deposits. Bullfrog was acquired by AngloGold Ashanti through its acquisition of Augusta Gold in October 2025. No additional work was

completed on the Bullfrog silver Mineral Resource during 2025, and the Qualified Person has not performed sufficient work to support classification of the estimate as a current silver Mineral Resource. The Mother Lode silver Mineral

Resource is based on a silver price of $18.75/oz and the Bullfrog silver Mineral Resource is based on a silver price of $20.00/oz.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 32 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

The below summary table is prepared in accordance with Table 1 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Resource for molybdenum at the end of the financial year ended 31

December 2025, based on an estimated molybdenum price of $12.00/lb.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESOURCE<sup>(1)</sup> | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESOURCE<sup>(1)</sup> | **Measured** | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| MOLYBDENUM | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Molybdenum** | **Contained** <br>**Molybdenum** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Molybdenum** | **Contained** <br>**Molybdenum** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Molybdenum** | **Contained** <br>**Molybdenum** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Molybdenum** | **Contained** <br>**Molybdenum** |
| MOLYBDENUM | **Million** | **ppm** | **Kilo-**<br>**tonnes**<br>| **Pounds** <br>**Million**<br>| **Million** | **ppm** | **Kilo-**<br>**tonnes**<br>| **Pounds** <br>**Million**<br>| **Million** | **ppm** | **Kilo-**<br>**tonnes**<br>| **Pounds** <br>**Million**<br>| **Million** | **ppm** | **Kilo-**<br>**tonnes**<br>| **Pounds** <br>**Million**<br>|
| **Projects** | **45.15** | **168** | **7.58** | **17** | **148.91** | **155** | **23.12** | **51** | **194.06** | **158** | **30.70** | **68** | **305.94** | **135** | **41.35** | **91** |
| **Colombia** | **45.15** | **168** | **7.58** | **17** | **148.91** | **155** | **23.12** | **51** | **194.06** | **158** | **30.70** | **68** | **305.94** | **135** | **41.35** | **91** |
| Quebradona <sup>(3)</sup> | 45.15 | 168 | 7.58 | 17 | 148.91 | 155 | 23.12 | 51 | 194.06 | 158 | 30.70 | 68 | 305.94 | 135 | 41.35 | 91 |
| **AngloGold Ashanti Total** | **45.15** | **168** | **7.58** | **17** | **148.91** | **155** | **23.12** | **51** | **194.06** | **158** | **30.70** | **68** | **305.94** | **135** | **41.35** | **91** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage and

content (kilotonnes) to two decimals and grade and content (pounds million) with no decimals for molybdenum. The Mineral Resource tonnages and grades are reported *in situ* and stockpiled material is reported as broken material. The

reported tonnages for the molybdenum by-product are an outcome from the associated conceptual pit shell or mineable shapes, that have been determined based on the extraction of the primary mineral. The primary mineral for

Quebradona is copper and a net smelter return (NSR) approach has been adopted.

<sup>(1)</sup> All disclosure of Mineral Resource is exclusive of Mineral Reserve. The Mineral Resource exclusive of Mineral Reserve is defined as the inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied.

<sup>(2)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(3)</sup> Property currently in a development stage.

The below summary table is prepared in accordance with Table 1 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Resource for sulphur at the end of the financial year ended 31 December 2025.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESOURCE<sup>(1)</sup> | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESOURCE<sup>(1)</sup> | **Measured** | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Total Measured and Indicated** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| SULPHUR | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Sulphur** | **Contained** <br>**Sulphur** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Sulphur** | **Contained** <br>**Sulphur** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Sulphur** | **Contained** <br>**Sulphur** | **Tonnes** <br><sup>(2)</sup><br>| **Grade** | **Contained** <br>**Sulphur** | **Contained** <br>**Sulphur** |
| SULPHUR | **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>|
| **Americas Region** | **7.87** | **4.5** | **0.35** | **777** | **11.80** | **3.1** | **0.37** | **806** | **19.67** | **3.6** | **0.72** | **1583** | **18.00** | **3.8** | **0.68** | **1508** |
| **Brazil** | **7.87** | **4.5** | **0.35** | **777** | **11.80** | **3.1** | **0.37** | **806** | **19.67** | **3.6** | **0.72** | **1583** | **18.00** | **3.8** | **0.68** | **1508** |
| AGA Mineração - Cuiabá <sup>(3)</sup> | 5.52 | 5.1 | 0.28 | 625 | 6.20 | 3.1 | 0.19 | 419 | 11.72 | 4.0 | 0.47 | 1043 | 11.87 | 3.7 | 0.44 | 964 |
| AGA Mineração - Lamego <sup>(3)</sup> | 2.35 | 2.9 | 0.07 | 152 | 5.60 | 3.1 | 0.18 | 387 | 7.95 | 3.1 | 0.24 | 539 | 6.13 | 4.0 | 0.25 | 544 |
| **AngloGold Ashanti Total** | **7.87** | **4.5** | **0.35** | **777** | **11.80** | **3.1** | **0.37** | **806** | **19.67** | **3.6** | **0.72** | **1583** | **18.00** | **3.8** | **0.68** | **1508** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage and

content (tonnes million) to two decimals, grade to one decimal, and content (pounds million) with no decimals for sulphur. The Mineral Resource tonnages and grades are reported *in situ* and stockpiled material is reported as broken

material. The reported tonnages for the sulphur by-product are an outcome from the associated conceptual pit shell or mineable shapes, that have been determined based on the extraction of the primary mineral which is gold.

<sup>(1)</sup> All disclosure of Mineral Resource is exclusive of Mineral Reserve. The Mineral Resource exclusive of Mineral Reserve is defined as the inclusive Mineral Resource less the Mineral Reserve before dilution and other factors are applied.

<sup>(2)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(3)</sup> Property currently in a production stage. A sulphuric acid price of $130/t is used.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 33 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

The below summary table is prepared in accordance with Table 2 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Reserve for gold at the end of the financial year ended 31 December 2025, based

on an estimated gold price of $1,700/oz, unless otherwise stated.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESERVE | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESERVE | **Proven** | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Probable** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** |
| GOLD | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Gold** | **Contained Gold** | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Gold** | **Contained Gold** | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Gold** | **Contained Gold** |
| GOLD | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** |
| **Africa Region** | **107.60** | **1.62** | **174.04** | **5.60** | **250.21** | **2.11** | **527.97** | **16.97** | **357.81** | **1.96** | **702.01** | **22.57** |
| **Democratic Republic of the Congo** | **13.45** | **3.13** | **42.16** | **1.36** | **36.87** | **2.92** | **107.49** | **3.46** | **50.32** | **2.97** | **149.65** | **4.81** |
| Kibali (45%) <sup>(1)(3)(8)</sup> | 13.45 | 3.13 | 42.16 | 1.36 | 36.87 | 2.92 | 107.49 | 3.46 | 50.32 | 2.97 | 149.65 | 4.81 |
| **Ghana** | **8.45** | **5.75** | **48.58** | **1.56** | **64.67** | **3.68** | **237.93** | **7.65** | **73.13** | **3.92** | **286.51** | **9.21** |
| Iduapriem <sup>(8)</sup> | 4.22 | 0.90 | 3.80 | 0.12 | 47.61 | 1.33 | 63.13 | 2.03 | 51.83 | 1.29 | 66.93 | 2.15 |
| Obuasi <sup>(4)(8)</sup> | 4.23 | 10.58 | 44.78 | 1.44 | 17.06 | 10.25 | 174.80 | 5.62 | 21.30 | 10.31 | 219.58 | 7.06 |
| **Guinea** | **8.89** | **0.62** | **5.47** | **0.18** | **73.73** | **0.84** | **61.82** | **1.99** | **82.62** | **0.81** | **67.29** | **2.16** |
| Siguiri (85%) <sup>(1)(8)</sup> | 8.89 | 0.62 | 5.47 | 0.18 | 73.73 | 0.84 | 61.82 | 1.99 | 82.62 | 0.81 | 67.29 | 2.16 |
| **Tanzania** | **21.20** | **1.06** | **22.44** | **0.72** | **54.49** | **1.88** | **102.65** | **3.30** | **75.69** | **1.65** | **125.09** | **4.02** |
| Geita <sup>(5)(8)</sup> | 21.20 | 1.06 | 22.44 | 0.72 | 54.49 | 1.88 | 102.65 | 3.30 | 75.69 | 1.65 | 125.09 | 4.02 |
| **Egypt** | **55.61** | **1.00** | **55.39** | **1.78** | **20.44** | **0.88** | **18.08** | **0.58** | **76.06** | **0.97** | **73.48** | **2.36** |
| Sukari (50%) <sup>(1)(7)(8)</sup> | 55.61 | 1.00 | 55.39 | 1.78 | 20.44 | 0.88 | 18.08 | 0.58 | 76.06 | 0.97 | 73.48 | 2.36 |
| **Americas Region** | **7.05** | **4.47** | **31.54** | **1.01** | **11.67** | **4.12** | **48.10** | **1.55** | **18.72** | **4.25** | **79.65** | **2.56** |
| **Argentina** | **2.76** | **3.48** | **9.62** | **0.31** | **4.14** | **2.92** | **12.08** | **0.39** | **6.90** | **3.14** | **21.70** | **0.70** |
| Cerro Vanguardia (92.5%) <sup>(1)(8)</sup> | 2.76 | 3.48 | 9.62 | 0.31 | 4.14 | 2.92 | 12.08 | 0.39 | 6.90 | 3.14 | 21.70 | 0.70 |
| **Brazil** | **4.29** | **5.12** | **21.92** | **0.70** | **7.54** | **4.78** | **36.03** | **1.16** | **11.82** | **4.90** | **57.95** | **1.86** |
| AGA Mineração - Córrego do Sítio <sup>(10)</sup> | 0.84 | 3.10 | 2.62 | 0.08 | 2.01 | 4.42 | 8.89 | 0.29 | 2.86 | 4.03 | 11.50 | 0.37 |
| AGA Mineração - Cuiabá <sup>(8)</sup> | 2.58 | 6.43 | 16.61 | 0.53 | 4.48 | 5.39 | 24.15 | 0.78 | 7.07 | 5.77 | 40.75 | 1.31 |
| AGA Mineração - Lamego <sup>(8)</sup> | 0.86 | 3.15 | 2.70 | 0.09 | 1.04 | 2.87 | 2.99 | 0.10 | 1.90 | 3.00 | 5.70 | 0.18 |
| **Australia Region** | **23.89** | **1.31** | **31.39** | **1.01** | **17.52** | **2.37** | **41.52** | **1.34** | **41.40** | **1.76** | **72.91** | **2.34** |
| Sunrise Dam <sup>(8)</sup> | 8.77 | 1.69 | 14.78 | 0.48 | 5.51 | 2.97 | 16.34 | 0.53 | 14.27 | 2.18 | 31.12 | 1.00 |
| Tropicana (70%) <sup>(1)(8)</sup> | 15.12 | 1.10 | 16.61 | 0.53 | 12.01 | 2.10 | 25.19 | 0.81 | 27.13 | 1.54 | 41.79 | 1.34 |
| **Projects** | **5.49** | **0.93** | **5.11** | **0.16** | **292.83** | **0.94** | **274.55** | **8.83** | **298.32** | **0.94** | **279.66** | **8.99** |
| **Colombia** | **—** | **—** | **—** | **—** | **120.01** | **0.67** | **80.83** | **2.60** | **120.01** | **0.67** | **80.83** | **2.60** |
| Quebradona <sup>(9)(12)</sup> |  |  |  |  | 120.01 | 0.67 | 80.83 | 2.60 | 120.01 | 0.67 | 80.83 | 2.60 |
| **United States of America** | **5.49** | **0.93** | **5.11** | **0.16** | **172.81** | **1.12** | **193.71** | **6.23** | **178.30** | **1.12** | **198.82** | **6.39** |
| North Bullfrog <sup>(9)(11)</sup> |  |  |  |  | 77.01 | 0.44 | 33.64 | 1.08 | 77.01 | 0.44 | 33.64 | 1.08 |
| Arthur Gold <sup>(6)(9)</sup> |  |  |  |  | 87.64 | 1.75 | 153.68 | 4.94 | 87.64 | 1.75 | 153.68 | 4.94 |
| Nevada Regional Deposits <sup>(13)</sup> | 5.49 | 0.93 | 5.11 | 0.16 | 8.16 | 0.78 | 6.39 | 0.21 | 13.65 | 0.84 | 11.50 | 0.37 |
| **AngloGold Ashanti Total** | **144.03** | **1.68** | **242.08** | **7.78** | **572.23** | **1.56** | **892.15** | **28.68** | **716.26** | **1.58** | **1134.22** | **36.47** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Reserve tabulations. The Mineral Reserve estimates with respect to our material properties have been prepared by the Qualified Persons (employed by AngloGold

Ashanti unless otherwise stated). The net difference between the Mineral Reserve at the end of the last completed financial year and the preceding financial year will be detailed for material properties, if applicable, in AngloGold Ashanti's annual

report on Form 20-F for the financial year ended 31 December 2025 to be filed with the SEC. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage, grade and content for

gold to two decimals. All ounces are Troy ounces. "Moz" refers to million ounces. The Mineral Reserve tonnages and grades are estimated and reported as delivered to plant (i.e., the point where material is delivered to the processing facility). The

Serra Grande mine in Brazil and the Doropo project in Côte d'Ivoire were sold in 2025.

<sup>(1)</sup> Mineral Reserve attributable to AngloGold Ashanti's percentage interest shown.

<sup>(2)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 34 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

<sup>(3)</sup> Kibali is operated by Barrick. The Mineral Reserve estimate was prepared through the Kibali joint venture's estimation and governance processes and under the supervision of Barrick's Qualified Persons. The Kibali gold Mineral Reserve is based

on a gold price of $1,500/oz. In 2025, a cut-off grade range from 0.76g/t to 0.99g/t (varying according to area and weathering domain) was applied to the open pits, a cut-off grade range from 0.45g/t to 0.49g/t (varying according to weathering

domain) was applied to the stockpiles, and a cut-off grade of 2.06g/t was applied to the underground. In 2025, a metallurgical recovery factor range from 75.5% to 91.0% (varying according to area and weathering domain) was applied to the

open pits, stockpiles, and underground for gold. The Qualified Person responsible for the Kibali Mineral Reserve is Derek Holm, FAusIMM, employed by Barrick.

<sup>(4)</sup> In 2025, for Obuasi, a cut-off grade range from 4.91g/t to 6.31g/t was applied to the underground (varying according to area). In 2025, a metallurgical recovery factor of 88.0% was applied to the open pit and underground for gold. The Qualified

Person responsible for the Obuasi Mineral Reserve is Douglas Atanga, SME RM.

<sup>(5)</sup> In 2025, for Geita, a cut-off grade range from 0.85g/t to 0.95g/t (varying according to area) was applied to the open pit, a cut-off grade range from 0.70g/t to 0.88g/t (varying according to the material type) was applied to the stockpiles, and a cut-off

grade range from 2.40g/t to 3.36g/t (varying according to area) was applied to the underground. In 2025, a metallurgical recovery factor range from 92.80% to 97.00% (varying according to the material type) was applied to the open pit, a

metallurgical recovery factor of 92.80% was applied to the stockpiles, and a metallurgical recovery factor range from 78.02% to 93.37% (varying according to area) was applied to the underground for gold. The Qualified Person responsible for

the Geita Mineral Reserve is Duan Campbell, Pr. Eng.

<sup>(6)</sup> The gold Mineral Reserve of the Arthur Gold Project (previously Expanded Silicon) includes only the Merlin deposit. The Merlin gold Mineral Reserve was declared for the first time in 2025 and is based on a gold price of $1,950/oz. In

2025, for Merlin, a dynamic cut-off grade strategy was applied for mine planning and the open pit cut-off grades range from 0.28g/t to 0.49g/t (varying according to grade and material type), and stockpiles cut-off grades range from

0.30g/t to 0.52g/t (varying according to grade and material type). In 2025, for the Merlin deposit, a metallurgical recovery factor range from 63.61% to 95.00% (varying according to grade and material type) was applied to the open pit

and stockpiles for gold. The Qualified Person responsible for the Arthur Gold Project Mineral Reserve is Hamid Taghavi, SME RM.

<sup>(7)</sup> In 2025, for Sukari, a cut-off grade of 0.43g/t was applied to the open pit and stockpiles, and a cut-off grade of 2.34g/t was applied to the underground. In 2025, a metallurgical recovery factor of 89.50% was applied to the open pit and

underground, and a metallurgical recovery factor of 86.56% was applied to the stockpiles for gold. The Qualified Person responsible for the Sukari open pit Mineral Reserve is Sherif Moemen, MAusIMM (CP) and the Qualified Person

responsible for the Sukari underground Mineral Reserve is Mahmoud Abdelmonem, MIMMM QMR.

<sup>(8)</sup> Property currently in a production stage.

<sup>(9)</sup> Property currently in a development stage.

<sup>(10)</sup> The CdS operation was placed on care and maintenance in August 2023.

<sup>(11)</sup> The North Bullfrog gold Mineral Reserve is based on a gold price of $1,720/oz.

<sup>(12)</sup> The Quebradona gold Mineral Reserve is based on a gold price of $1,350/oz.

<sup>(13)</sup> The Nevada Regional Deposits gold Mineral Reserve includes only the Reward deposit, currently in a development stage. The remainder of the deposits in the Nevada Regional Deposits are currently in an exploration stage. The Reward

deposit was acquired by AngloGold Ashanti through its acquisition of Augusta Gold in October 2025. The Reward deposit gold Mineral Reserve is based on a gold price of $1,850/oz. No additional work was completed on the Reward

deposit gold Mineral Reserve during 2025, and the Qualified Person has not performed sufficient work to support classification of the estimate as a current gold Mineral Reserve.

The below summary table is prepared in accordance with Table 2 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Reserve for copper at the end of the financial year ended

31 December 2025, based on an estimated copper price of $3.10/lb.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **MINERAL RESERVE** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| **MINERAL RESERVE** | **Proven** | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Probable** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** |
| COPPER | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Copper** | **Contained Copper** | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Copper** | **Contained Copper** | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Copper** | **Contained Copper** |
| COPPER | **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%Cu** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>|
| **Projects** | **—** | **—** | **—** | **—** | **120.01** | **1.23** | **1.47** | **3250** | **120.01** | **1.23** | **1.47** | **3250** |
| **Colombia** | **—** | **—** | **—** | **—** | **120.01** | **1.23** | **1.47** | **3250** | **120.01** | **1.23** | **1.47** | **3250** |
| Quebradona <sup>(2)</sup> |  | **—** |  |  | 120.01 | 1.23 | 1.47 | 3250 | 120.01 | 1.23 | 1.47 | 3250 |
| **AngloGold Ashanti Total** | **—** | **—** | **—** | **—** | **120.01** | **1.23** | **1.47** | **3250** | **120.01** | **1.23** | **1.47** | **3250** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Reserve tabulations. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage and grade to

two decimals and content for copper with no decimals. "Mlb" refers to million pounds. The reference point for the Mineral Reserve is the point of delivery to the process plant. The Mineral Reserve tonnages and grades are estimated and reported as

delivered to plant (i.e., the point where material is delivered to the processing facility).

<sup>(1)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(2)</sup> Property currently in a development stage.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 35 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **GROUP I MINERAL RESOURCE AND MINERAL RESERVE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

The below summary table is prepared in accordance with Table 2 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Reserve for silver at the end of the financial year ended 31 December 2025, based

on an estimated silver price of $19.50/oz, unless otherwise stated.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESERVE | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESERVE | **Proven** | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Probable** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** |
| SILVER | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Silver** | **Contained Silver** | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Silver** | **Contained Silver** | **Tonnes** <sup>(2)</sup> | **Grade** | **Contained Silver** | **Contained Silver** |
| SILVER | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** | **Million** | **g/t** | **Tonnes** | **Moz** |
| **Americas Region** | **2.76** | **61.14** | **168.99** | **5.43** | **4.14** | **97.25** | **402.31** | **12.93** | **6.90** | **82.79** | **571.30** | **18.37** |
| **Argentina** | **2.76** | **61.14** | **168.99** | **5.43** | **4.14** | **97.25** | **402.31** | **12.93** | **6.90** | **82.79** | **571.30** | **18.37** |
| Cerro Vanguardia (92.5%) <sup>(1)(4)</sup> | 2.76 | 61.14 | 168.99 | 5.43 | 4.14 | 97.25 | 402.31 | 12.93 | 6.90 | 82.79 | 571.30 | 18.37 |
| **Projects** | **—** | **—** | **—** | **—** | **284.66** | **4.31** | **1227.68** | **39.47** | **284.66** | **4.31** | **1227.68** | **39.47** |
| **Colombia** | **—** | **—** | **—** | **—** | **120.01** | **7.29** | **874.33** | **28.11** | **120.01** | **7.29** | **874.33** | **28.11** |
| Quebradona <sup>(3)(5)</sup> |  | **—** |  |  | 120.01 | 7.29 | 874.33 | 28.11 | 120.01 | 7.29 | 874.33 | 28.11 |
| **United States of America** | **—** | **—** | **—** | **—** | **164.65** | **2.15** | **353.35** | **11.36** | **164.65** | **2.15** | **353.35** | **11.36** |
| North Bullfrog <sup>(3)</sup> |  | **—** |  |  | 77.01 | 1.45 | 111.32 | 3.58 | 77.01 | 1.45 | 111.32 | 3.58 |
| Arthur Gold <sup>(3)(6)</sup> |  | **—** |  |  | 87.64 | 2.76 | 242.03 | 7.78 | 87.64 | 2.76 | 242.03 | 7.78 |
| **AngloGold Ashanti Total** | **2.76** | **61.14** | **168.99** | **5.43** | **288.80** | **5.64** | **1629.99** | **52.41** | **291.56** | **6.17** | **1798.98** | **57.84** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Reserve tabulations. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage,

grade and content for silver to two decimals. All ounces are Troy ounces. "Moz" refers to million ounces. The Mineral Reserve tonnages and grades are estimated and reported as delivered to plant (i.e., the point where material is delivered

to the processing facility). The reported tonnages for the silver by-product are an outcome from the associated pit or underground mine plans, that have been determined based on the extraction of the primary mineral. The primary mineral

for all properties is gold (except for Quebradona where the primary mineral is copper and a net smelter return (NSR) approach has been adopted). All Qualified Persons are employed by AngloGold Ashanti unless otherwise stated.

<sup>(1)</sup> Mineral Reserve attributable to AngloGold Ashanti's percentage interest shown.

<sup>(2)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(3)</sup> Property currently in a development stage.

<sup>(4)</sup> Property currently in a production stage.

<sup>(5)</sup> The Quebradona silver Mineral Reserve is based on a silver price of $18.67/oz

<sup>(6)</sup> The silver Mineral Reserve of the Arthur Gold Project (previously Expanded Silicon) includes only the

Merlin deposit. The Merlin silver Mineral Reserve was declared for the first time in 2025. In 2025, for

Merlin, a metallurgical recovery factor range from 10.20% to 22.21% (varying according to material type)

was applied to the open pit for silver. The Qualified Person responsible for the Arthur Gold Project

Mineral Reserve is Hamid Taghavi, SME RM.

The below summary table is prepared in accordance with Table 2 to Paragraph (b) of Item 1303 of Regulation S-K - Summary Mineral Reserve for sulphur at the end of the financial year ended

31 December 2025.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MINERAL RESERVE | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** | **AT 31 DECEMBER 2025** |
| MINERAL RESERVE | **Proven** | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Probable** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** | **Total Mineral Reserve** |
| SULPHUR | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Sulphur** | **Contained Sulphur** | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Sulphur** | **Contained Sulphur** | **Tonnes** <sup>(1)</sup> | **Grade** | **Contained Sulphur** | **Contained Sulphur** |
| SULPHUR | **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>| **Million** | **%S** | **Tonnes** <br>**Million**<br>| **Pounds** <br>**Million**<br>|
| **Americas Region** | **3.44** | **3.3** | **0.11** | **247** | **5.53** | **2.7** | **0.15** | **326** | **8.97** | **2.9** | **0.26** | **572** |
| **Brazil** | **3.44** | **3.3** | **0.11** | **247** | **5.53** | **2.7** | **0.15** | **326** | **8.97** | **2.9** | **0.26** | **572** |
| AGA Mineração - Cuiabá <sup>(2)</sup> | 2.58 | 3.7 | 0.09 | 209 | 4.48 | 2.8 | 0.12 | 272 | 7.07 | 3.1 | 0.22 | 481 |
| AGA Mineração - Lamego <sup>(2)</sup> | 0.86 | 2.0 | 0.02 | 38 | 1.04 | 2.3 | 0.02 | 54 | 1.90 | 2.2 | 0.04 | 91 |
| **AngloGold Ashanti Total** | **3.44** | **3.3** | **0.11** | **247** | **5.53** | **2.7** | **0.15** | **326** | **8.97** | **2.9** | **0.26** | **572** |

---

<u>Notes:</u>

Rounding of numbers may result in computational discrepancies in the Mineral Reserve tabulations. To reflect that figures are not precise calculations and that there is uncertainty in their estimation, AngloGold Ashanti reports tonnage and

content (tonnes million) to two decimals, grade to one decimal, and content (pounds million) with no decimals for sulphur. The Mineral Reserve tonnages and grades are estimated and reported as delivered to plant (i.e., the point where

material is delivered to the processing facility). The reported tonnages for the sulphur by-product are an outcome from the associated pit or underground mine plans, that have been determined based on the extraction of the primary mineral

which is gold.

<sup>(1)</sup> "Tonnes" refers to a metric tonne which is equivalent to 1,000 kilograms.

<sup>(2)</sup> Property currently in a production stage. A sulphuric acid price of $130/t is used.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 36 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **2025 I DIVIDENDS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

AngloGold Ashanti plc today announces an interim dividend for the three months ended 31 December 2025 of 173 US cents per

share. In respect of the interim dividend, the timelines, including dates for currency conversions, set out below will apply.

**To holders of ordinary shares on the New York Stock Exchange (NYSE)**

---

| | |
|:---|:---|
| **2026** | **2026** |
| Ex-dividend on NYSE | Friday, 13 March |
| Record date | Friday, 13 March |
| Payment date | Friday, 27 March |

---

**To holders of ordinary shares on the South African Register**

Additional information for South African resident shareholders of AngloGold Ashanti:

Shareholders registered on the South African section of the register are advised that the distribution of 173 US cents per ordinary

share will be converted to South African rands at the applicable exchange rate.

In compliance with the requirements of Strate and the Johannesburg Stock Exchange (JSE) Listings Requirements, the salient

dates for payment of the dividend are as follows:

---

| | |
|:---|:---|
| **2026** | **2026** |
| Declaration date | Friday, 20 February |
| Currency conversion rate for South African rands announcement date | Friday, 6 March |
| Last date to trade ordinary shares cum dividend | Tuesday, 10 March |
| Ordinary shares trade ex-dividend | Wednesday, 11 March |
| Record date | Friday, 13 March |
| Payment date | Friday, 27 March |

---

Dividends in respect of dematerialised shareholdings will be credited to shareholders' accounts with the relevant CSDP (as defined

below) or broker.

To comply with further requirements of Strate, share certificates may not be dematerialised or rematerialised between Wednesday,

11 March 2026 and Friday, 13 March 2026, both days inclusive. No transfers between South African, NYSE and Ghanaian share

registers will be permitted between Friday, 6 March 2026 and Friday, 13 March 2026, both days inclusive.

Details of the exchange rates applicable to the dividend and a summary of the tax considerations applicable to South African

shareholders is expected to be published on Friday, 6 March 2026.

**To Beneficial Owners on the Ghana sub-register holding shares through the nominee arrangement with the** 

**Central Securities Depositary (GH) LTD**

---

| | |
|:---|:---|
| **2026** | **2026** |
| Currency conversion date | Friday, 6 March |
| Last date to trade and to register shares cum dividend | Tuesday, 10 March |
| Shares trade ex-dividend | Wednesday, 11 March |
| Record date | Friday, 13 March |
| Approximate payment date of dividend | Friday, 27 March |

---

**To Beneficial Owners holding Ghanaian Depositary Shares (GhDSs) and acting by National Trust Holding** 

**Company Ltd as depository agent 100 GhDSs represent one ordinary share**

---

| | |
|:---|:---|
| **2026** | **2026** |
| Currency conversion date | Friday, 6 March |
| Last date to trade and to register GhDSs cum dividend | Tuesday, 10 March |
| GhDSs trade ex-dividend | Wednesday, 11 March |
| Record date | Friday, 13 March |
| Approximate payment date of dividend | Friday, 27 March |

---

Beneficial owners on the Ghana sub-register holding shares and beneficial owners holding GhDSs are advised that the distribution

of 173 US cents per ordinary share will be converted to Ghanaian cedis at the applicable exchange rate. Assuming an exchange

rate of US$1/¢11.0000, the gross dividend payable per share, is equivalent to ca. ¢19.0300 Ghanaian cedis. However, the actual

rate of payment will depend on the exchange rate on the date for currency conversion.

**Entitlement to interim dividends**

A "Shareholder of Record" is a person appearing on the register of members of the Company in respect of ordinary shares at the

close of business on the relevant record date. A "Beneficial Owner" is a person who holds ordinary shares of the Company through

a bank, broker, central securities depository participant ("CSDP"), Shareholder of Record or other agent (sometimes referred to as

holding shares "in street name").

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 37 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

**Non-GAAP disclosure**

From time to time AngloGold Ashanti may publicly disclose certain "Non-GAAP" financial measures in the course of its financial

presentations, earnings releases, earnings conference calls and otherwise.

In this document, AngloGold Ashanti presents the financial items "total cash costs", "total cash costs per ounce", "all-in sustaining

costs", "all-in sustaining costs per ounce", "average gold price received per ounce", "sustaining capital expenditure" and "non-

sustaining capital expenditure", which have been determined using industry guidelines and practices and are not measures under

IFRS. In addition, AngloGold Ashanti also presents the financial items "Adjusted EBITDA", "Adjusted net debt (cash)" and "free

cash flow" which are not measures under IFRS either. An investor should not consider these items in isolation or as alternatives to

cost of sales, gold income, capital expenditure, profit (loss) before taxation, total borrowings, cash flows from operating activities or

any other measure of financial performance presented in accordance with IFRS or as an indicator of the Group's performance. The

Group uses certain Non-GAAP performance measures and ratios in managing the business and may provide users of this financial

information with additional meaningful comparisons between current results and results in prior operating periods. Non-GAAP

financial measures should be viewed in addition to, and not as an alternative to, the reported operating results or any other

measure of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be

comparable to similarly titled measures that other companies use.

The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting,

while the term "non-managed joint ventures" refers to equity-accounted joint ventures that are reported based on AngloGold

Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a

consolidated basis. Non-managed joint ventures are reported on an attributable basis.

**All-in sustaining costs**

During 2018, the World Gold Council ("WGC"), an industry body, published a revised Guidance Note on the "all-in sustaining costs"

metric, which gold mining companies can use to supplement their overall Non-GAAP disclosure. The WGC worked closely with its

members (including AngloGold Ashanti) to develop these Non-GAAP measures which are intended to provide further transparency

into the full cost associated with producing gold. It is expected that this metric, which AngloGold Ashanti provides herein, will be

helpful to investors, governments, local communities and other stakeholders in understanding the economics of gold mining.

"All-in sustaining costs" is a Non-GAAP measure which is an extension of the existing "total cash costs" metric and incorporates all

costs related to sustaining production and in particular, recognises sustaining capital expenditures associated with developing and

maintaining gold mines. In addition, this metric includes the cost associated with Corporate Office structures that support these

operations, the community and environmental rehabilitation costs attendant with responsible mining and any exploration and

evaluation cost associated with sustaining current operations. "All-in sustaining costs per ounce - managed operations" ($/oz) is

calculated by dividing the consolidated US dollar value of this cost metric by the consolidated ounces of gold sold. "All-in sustaining

costs per ounce - non-managed joint ventures" ($/oz) is calculated by dividing the attributable US dollar value of this cost metric by

the attributable ounces of gold sold.

**Total cash costs**

"Total cash costs" is calculated in accordance with the guidelines of the Gold Institute industry standard and industry practice and is

a Non-GAAP measure. The Gold Institute, which has been incorporated into the National Mining Association, is a non-profit

international association of miners, refiners, bullion suppliers and manufacturers of gold products, which developed a uniform

format for reporting total cash costs on a per ounce basis. The guidance was first adopted in 1996 and revised in November 1999.

"Total cash costs" is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, include costs for all mining,

processing, onsite administration costs, royalties and production taxes, as well as contributions from by-products, but exclude

amortisation of tangible, intangible and right of use assets, rehabilitation costs and other non-cash costs, retrenchment costs,

corporate administration, marketing and related costs, capital costs and exploration costs. "Total cash costs per ounce - managed

operations" ($/oz) is calculated by dividing the consolidated US dollar value of this cost metric by the consolidated ounces of gold

produced. "Total cash costs per ounce - non-managed joint ventures" ($/oz) is calculated by dividing the attributable US dollar

value of this cost metric by the attributable ounces of gold produced.

**Average gold price received per ounce**

"Average gold price received per ounce" is a Non-GAAP measure which gives an indication of revenue earned per ounce of gold

sold and serves as a benchmark of performance against the market spot gold price. "Average gold price received per ounce -

managed operations" is calculated by dividing the consolidated US dollar value of this revenue metric by the consolidated ounces

of gold sold. "Average gold price received per ounce - non-managed joint ventures" is calculated by dividing the attributable US

dollar value of this revenue metric by the attributable ounces of gold sold.

**Sustaining capital expenditure**

"Sustaining capital expenditure" is a Non-GAAP measure comprising capital expenditure incurred to sustain and maintain existing

assets at their current productive capacity in order to achieve constant planned levels of productive output and capital expenditure

to extend useful lives of existing production assets. This includes replacement of vehicles, plant and machinery, Mineral Reserve

development, deferred stripping and capital expenditure related to financial benefit initiatives, safety, health and the environment.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 38 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

**Non-sustaining capital expenditure**

*"*Non-sustaining capital expenditure" is a Non-GAAP measure comprising capital expenditure incurred at new operations and

capital expenditure related to 'major projects' at existing operations where these projects will materially increase production.

While the Gold Institute provided definitions for the calculation of "total cash costs" and the WGC published a revised Guidance

Note on the "all-in sustaining costs" metric during 2018, the calculation of "total cash costs", "total cash costs per ounce", "all-in

sustaining costs" and "all-in sustaining costs per ounce" may vary significantly among gold mining companies, and by themselves

do not necessarily provide a basis for comparison with other gold mining companies. However, AngloGold Ashanti believes that

"total cash costs" and "all-in sustaining costs" in total by mine and per ounce by mine as well as "average gold price received per

ounce", "sustaining capital expenditure" and "non-sustaining capital expenditure" are useful indicators to investors and

management as they provide:

• an indication of profitability, efficiency and cash flows;

• the trend in costs as the mining operations mature over time on a consistent basis; and

• an internal benchmark of performance to allow for comparison against other mines, both within the Group and at other gold

mining companies.

Management prepares its internal management reporting documentation, for use and decision making by the Chief Operating

Decision Maker (CODM), on a total basis.

The key metrics are based on the total ounces, gold income, "total cash costs", "all-in sustaining costs", "sustaining capital

expenditure" and "non-sustaining capital expenditure" from each operation and as a consequence includes AngloGold Ashanti's

share of the "total cash costs", "all-in sustaining costs", "sustaining capital expenditure" and "non-sustaining capital expenditure" of

its non-managed joint ventures that are accounted for under the equity method. In a capital intensive industry, this basis allows

management to make operating and resource allocation decisions on a comparable basis between mining operations irrespective

of whether they are consolidated or accounted for under the equity method. This basis of calculating the metrics is consistent with

the WGC's Guidance Note on the "all-in sustaining costs" metric.

Although AngloGold Ashanti has shareholder rights and board representation commensurate with its ownership interests in its

equity-accounted non-managed joint ventures and reviews the underlying operating results including "total cash costs", "all-in

sustaining costs", "sustaining capital expenditure" and "non-sustaining capital expenditure" with them at each reporting period, it

does not have direct control over their operations or resulting revenue and expenses, nor does it have a proportionate legal interest

in each financial statement line item. AngloGold Ashanti's use of "total cash costs", "all-in sustaining costs", "sustaining capital

expenditure" and "non-sustaining capital expenditure" on a total basis, is not intended to imply that it has any such control or

proportionate legal interest, but rather to reflect the Non-GAAP measures on a basis consistent with its internal and external

segmental reporting.

**Adjusted EBITDA**

"Adjusted EBITDA" is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, includes profit (loss) before

taxation, amortisation of tangible, intangible and right of use assets, retrenchment costs at the operations, finance income, other

gains (losses), care and maintenance costs, finance costs and unwinding of obligations, impairment and derecognition of assets,

impairment of investments, profit (loss) on disposal of assets and investments, gain (loss) on early settlement of hedge contracts,

fair value adjustments, repurchase premium and costs on settlement of issued bonds and the share of associates' EBITDA. The

Adjusted EBITDA calculation is based on the formula included in AngloGold Ashanti's Revolving Credit Facility Agreements for

compliance with the debt covenant formula.

"Adjusted EBITDA margin" is calculated as the percentage of Adjusted EBITDA divided by revenue from product sales.

**Adjusted net debt (cash)**

"Adjusted net debt (cash)" is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, includes total

borrowings adjusted for the unamortised portion of borrowing costs and IFRS 16 lease adjustments; less cash restricted for use

and cash and cash equivalents (net of bank overdraft). The Adjusted net debt (cash) calculation is based on the formula included in

AngloGold Ashanti's Revolving Credit Facility Agreements for compliance with the debt covenant formula.

**Free cash flow**

AngloGold Ashanti has revised its definition of "free cash flow" in order to align it with industry practice. "Free cash flow" is a Non-

GAAP measure and, as calculated and reported by AngloGold Ashanti, includes operating cash flow less capital expenditure.

Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures, less

dividends paid to non-controlling interests. "Free cash flow" for the three months and year ended 31 December 2024 has been

adjusted to reflect this change in reporting.

**Reconciliations**

***All-in sustaining costs and total cash costs per ounce***

A reconciliation of cost of sales as included in AngloGold Ashanti's Earnings Release for the three months and years ended 31

December 2025 and 31 December 2024, to "all-in sustaining costs", "all-in sustaining costs per ounce", "total cash costs" and "total

cash costs per ounce" for each of the three-month periods and years ended 31 December 2025 and 31 December 2024, is

presented on a total (Group), total (managed operations/non-managed joint ventures) and segment basis in Note A below.

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 39 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I RESULTS** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

CONTINUED

In addition, the Company has provided detail of the consolidated ounces of gold produced and sold by mine (for managed

operations) and the attributable ounces of gold produced and sold by mine (for non-managed joint ventures) for each of those

periods below.

***Average gold price received per ounce***

A reconciliation of gold income as included in AngloGold Ashanti's Earnings Release for the three months and years ended 31

December 2025 and 31 December 2024, to "average gold price received per ounce" for each of the three-month periods and years

ended 31 December 2025 and 31 December 2024, is presented on a total (Group) and total (managed operations/non-managed

joint ventures) basis in Note B below.

***Sustaining capital expenditure and non-sustaining capital expenditure***

A reconciliation of capital expenditure as included in AngloGold Ashanti's Earnings Release for the three months and years ended

31 December 2025 and 31 December 2024, to "sustaining capital expenditure" and "non-sustaining capital expenditure" for each of

the three-month periods and years ended 31 December 2025 and 31 December 2024, is presented on a total (Group), total

(managed operations/non-managed joint ventures) and segment basis in Note C below.

***Adjusted EBITDA***

A reconciliation of profit (loss) before taxation as included in AngloGold Ashanti's Earnings Release for the three months and years

ended 31 December 2025 and 31 December 2024, to "Adjusted EBITDA" for each of the three-month periods and years ended

31 December 2025 and 31 December 2024, is presented on a total (Group) basis in Note D below.

***Adjusted net debt (cash)***

A reconciliation of total borrowings as included in AngloGold Ashanti's Earnings Release as at 31 December 2025 and 31

December 2024 to "Adjusted net debt (cash)" as at 31 December 2025 and 31 December 2024, is presented on a total (Group)

basis in Note E below.

***Free cash flow***

A reconciliation of net cash flow from operating activities as included in AngloGold Ashanti's Earnings Release for the three months

and years ended 31 December 2025 and 31 December 2024, to "free cash flow" for each of the three-month periods and years

ended 31 December 2025 and 31 December 2024, is presented on a total (Group) basis in Note F below.

![a10cvsa_v5.jpg](a10cvsa_v5.jpg)

*Cerro Vanguardia, Argentina*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 40 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** |
| ALL-IN SUSTAINING COSTS | **Corporate**<br>**and other**<sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| ALL-IN SUSTAINING COSTS | **Corporate**<br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | 2 | 96 | 108 | 138 | 173 | 253 | 221 |  | 893 | 116 | 158 | 11 | 285 |
| By-product revenue |  |  |  |  |  | (1) | (2) |  | (3) | (1) | (1) |  | (2) |
| Amortisation of tangible, intangible and right of use assets | (1) | (28) | (28) | (21) | (18) | (127) | (121) |  | (315) | (22) | (37) |  | (59) |
| Adjusted for decommissioning and inventory amortisation |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate administration, marketing and related expenses | 44 |  |  |  |  |  |  |  |  |  |  |  |  |
| Lease payment sustaining | 1 | (1) | 3 |  | 1 | 4 |  |  | 8 | 4 | 6 |  | 10 |
| Sustaining exploration and study costs |  |  | 1 | 1 | 3 | 2 |  |  | 7 | 2 |  |  | 2 |
| Total sustaining capital expenditure | 1 | 21 | 39 | 47 | 37 | 53 | 43 |  | 219 | 29 | 13 |  | 42 |
| **All-in sustaining costs** <sup>(5)</sup> | 46 | 87 | 123 | 164 | 196 | 185 | 142 |  | 810 | 127 | 139 | 11 | 277 |
| Gold sold - oz (000) |  | 78 | 53 | 78 | 79 | 114 | 119 |  | 443 | 60 | 96 |  | 156 |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> |  | 1108 | 2303 | 2079 | 2493 | 1621 | 1211 |  | 1830 | 2145 | 1444 |  | 1783 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 41 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** |  |  |
| ALL-IN SUSTAINING COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| ALL-IN SUSTAINING COSTS | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations**  | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations**  | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 94 | 120 | 31 |  | 245 |  | **96** | **1425** | **1521** | **1204** | **1300** |
| By-product revenue | (36) | (4) |  |  | (40) |  | **—** | **(45)** | **(45)** | **(43)** | **(43)** |
| Amortisation of tangible, intangible and right of use assets | (8) | (31) | (8) |  | (47) |  | **(28)** | **(422)** | **(450)** | **(301)** | **(329)** |
| Adjusted for decommissioning and inventory amortisation | (5) | (1) |  |  | (6) |  | **—** | **(6)** | **(6)** | **(6)** | **(6)** |
| Corporate administration, marketing and related expenses |  |  |  |  |  | 1 | **—** | **45** | **45** | **45** | **45** |
| Lease payment sustaining |  | 6 | 1 |  | 7 |  | **(1)** | **26** | **25** | **26** | **25** |
| Sustaining exploration and study costs | 1 | 1 |  |  | 2 | (1) | **—** | **10** | **10** | **10** | **10** |
| Total sustaining capital expenditure | 21 | 41 | 4 |  | 66 | 1 | **21** | **329** | **350** | **286** | **307** |
| **All-in sustaining costs** <sup>(5)</sup> | 67 | 132 | 29 |  | 228 | 2 | **87** | **1363** | **1450** | **1221** | **1308** |
| Gold sold - oz (000) | 36 | 79 | 11 |  | 126 |  | **78** | **725** | **803** | **606** | **684** |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> | 1850 | 1670 | 2583 |  | 1806 |  | **1108** | **1881** | **1805** | **2012** | **1908** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs* <br>*per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 42 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** |
| TOTAL CASH COSTS | **Corporate** <br>**and other**<sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| TOTAL CASH COSTS | **Corporate** <br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate** <br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | 2 | 96 | 108 | 138 | 173 | 253 | 221 |  | 893 | 116 | 158 | 11 | 285 |
| - By-product revenue |  |  |  |  |  | (1) | (2) |  | (3) | (1) | (1) |  | (2) |
| - Inventory change |  | 1 | (6) | (11) | 14 | 8 |  |  | 5 | (3) | (7) |  | (10) |
| - Amortisation of tangible assets | (1) | (28) | (26) | (21) | (17) | (121) | (120) |  | (305) | (17) | (30) |  | (47) |
| - Amortisation of right of use assets |  |  | (2) |  | (1) | (6) | (1) |  | (10) | (5) | (7) |  | (12) |
| - Amortisation of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
| - Rehabilitation and other non-cash costs |  | 22 | 1 | (5) | (7) |  |  |  | (11) | 3 | 1 |  | 4 |
| - Retrenchment costs |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total cash costs** <sup>(5)</sup> |  | 92 | 74 | 100 | 163 | 133 | 99 |  | 569 | 93 | 114 | 11 | 218 |
| Gold produced - oz (000) |  | 79 | 50 | 72 | 85 | 113 | 119 |  | 439 | 58 | 93 |  | 151 |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> |  | 1156 | 1489 | 1376 | 1898 | 1187 | 841 |  | 1297 | 1601 | 1234 |  | 1445 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 43 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** |  |  |
| TOTAL CASH COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| TOTAL CASH COSTS | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 94 | 120 | 31 |  | 245 |  | **96** | **1425** | **1521** | **1204** | **1300** |
| - By-product revenue | (36) | (4) |  |  | (40) |  | **—** | **(45)** | **(45)** | **(43)** | **(43)** |
| - Inventory change | 3 | (2) |  |  | 1 |  | **1** | **(4)** | **(3)** | **(4)** | **(3)** |
| - Amortisation of tangible assets | (8) | (27) | (6) |  | (41) |  | **(28)** | **(394)** | **(422)** | **(274)** | **(302)** |
| - Amortisation of right of use assets |  | (4) | (2) |  | (6) |  | **—** | **(28)** | **(28)** | **(27)** | **(27)** |
| - Amortisation of intangible assets |  |  |  |  |  |  | **—** | **—** | **—** | **—** | **—** |
| - Rehabilitation and other non-cash costs | (4) |  |  |  | (4) |  | **22** | **(11)** | **11** | **(11)** | **11** |
| - Retrenchment costs |  | (1) |  |  | (1) |  | **—** | **(1)** | **(1)** | **(1)** | **(1)** |
| **Total cash costs** <sup>(5)</sup> | 49 | 82 | 23 |  | 154 |  | **92** | **941** | **1033** | **842** | **934** |
| Gold produced - oz (000) | 42 | 77 | 11 |  | 130 |  | **79** | **720** | **799** | **601** | **680** |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> | 1142 | 1058 | 2095 |  | 1178 |  | **1156** | **1307** | **1292** | **1398** | **1370** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 44 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other**<sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate** <br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | (3) | 101 | 91 | 101 | 134 | 148 | 83 |  | 557 | 114 | 135 | 10 | 259 |
| By-product revenue |  |  |  |  |  | (1) |  |  | (1) |  | (1) |  | (1) |
| Amortisation of tangible, intangible and right of use assets | (1) | (25) | (19) | (22) | (14) | (42) | (20) |  | (117) | (19) | (39) |  | (58) |
| Adjusted for decommissioning and inventory amortisation |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate administration, marketing and related expenses | 31 |  |  |  |  |  |  |  |  |  |  |  |  |
| Lease payment sustaining | 1 | (3) | 1 |  | 1 | 6 |  |  | 8 | 4 | 3 |  | 7 |
| Sustaining exploration and study costs |  |  |  | 1 | 2 | (2) |  |  | 1 |  |  |  |  |
| Total sustaining capital expenditure |  | 19 | 28 | 34 | 26 | 52 | 20 |  | 160 | 26 | 11 |  | 37 |
| **All-in sustaining costs** <sup>(5)</sup> | 28 | 93 | 100 | 113 | 150 | 161 | 83 |  | 607 | 125 | 109 | 10 | 244 |
| Gold sold - oz (000) |  | 78 | 47 | 59 | 69 | 122 | 44 |  | 341 | 66 | 100 |  | 166 |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> |  | 1188 | 2131 | 1905 | 2186 | 1327 | 1858 |  | 1780 | 1888 | 1086 |  | 1465 |
| <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 45 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** |  |  |
| ALL-IN SUSTAINING COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| ALL-IN SUSTAINING COSTS | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 99 | 98 | 32 | 1 | 230 |  | **101** | **1043** | **1144** | **960** | **1061** |
| By-product revenue | (30) | (2) |  |  | (32) |  | **—** | **(34)** | **(34)** | **(34)** | **(34)** |
| Amortisation of tangible, intangible and right of use assets | (21) | (33) | (8) |  | (62) |  | **(25)** | **(238)** | **(263)** | **(218)** | **(243)** |
| Adjusted for decommissioning and inventory amortisation | 6 |  |  |  | 6 |  | **—** | **6** | **6** | **6** | **6** |
| Corporate administration, marketing and related expenses |  |  |  |  |  | 1 | **—** | **32** | **32** | **32** | **32** |
| Lease payment sustaining |  | 6 | 3 |  | 9 |  | **(3)** | **25** | **22** | **25** | **22** |
| Sustaining exploration and study costs | 1 | 1 |  |  | 2 |  | **—** | **3** | **3** | **3** | **3** |
| Total sustaining capital expenditure | 24 | 30 | 12 |  | 66 | 3 | **19** | **266** | **285** | **246** | **265** |
| **All-in sustaining costs** <sup>(5)</sup> | 79 | 100 | 40 |  | 219 | 4 | **93** | **1102** | **1195** | **1019** | **1112** |
| Gold sold - oz (000) | 44 | 74 | 22 |  | 140 |  | **78** | **647** | **725** | **603** | **681** |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> | 1811 | 1344 | 1842 |  | 1574 |  | **1188** | **1702** | **1647** | **1691** | **1633** |
| <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 46 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** |
| TOTAL CASH COSTS | **Corporate**<br>**and other**<sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| TOTAL CASH COSTS | **Corporate**<br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br>**and other**<sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | (3) | 101 | 91 | 101 | 134 | 148 | 83 |  | 557 | 114 | 135 | 10 | 259 |
| - By-product revenue |  |  |  |  |  | (1) |  |  | (1) |  | (1) |  | (1) |
| - Inventory change |  | 1 | 6 | (1) | 11 | 17 | (17) |  | 16 | (1) |  |  | (1) |
| - Amortisation of tangible assets | (1) | (25) | (18) | (22) | (13) | (37) | (19) |  | (109) | (15) | (37) |  | (52) |
| - Amortisation of right of use assets |  |  | (1) |  | (1) | (5) | (1) |  | (8) | (4) | (2) |  | (6) |
| - Amortisation of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
| - Rehabilitation and other non-cash costs |  |  | (3) | (7) | (2) | (1) |  |  | (13) | (1) | (2) |  | (3) |
| - Retrenchment costs |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total cash costs** <sup>(5)</sup> | (4) | 77 | 74 | 71 | 129 | 121 | 46 |  | 441 | 93 | 93 | 9 | 195 |
| Gold produced - oz (000) |  | 80 | 50 | 60 | 74 | 136 | 40 |  | 360 | 66 | 100 |  | 166 |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> |  | 967 | 1478 | 1169 | 1747 | 892 | 1165 |  | 1225 | 1406 | 924 |  | 1171 |
| <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |  |  |  |  |  |  |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |  |  |  |  |  |  |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |  |  |  |  |  |  |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |  |  |  |  |  |  |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 47 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** |  |  |
| TOTAL CASH COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| TOTAL CASH COSTS | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 99 | 98 | 32 | 1 | 230 |  | **101** | **1043** | **1144** | **960** | **1061** |
| - By-product revenue | (30) | (2) |  |  | (32) |  | **—** | **(34)** | **(34)** | **(34)** | **(34)** |
| - Inventory change | 9 | (1) | 1 |  | 9 |  | **1** | **24** | **25** | **41** | **42** |
| - Amortisation of tangible assets | (21) | (27) | (7) |  | (55) |  | **(25)** | **(217)** | **(242)** | **(198)** | **(223)** |
| - Amortisation of right of use assets |  | (6) | (1) |  | (7) |  | **—** | **(21)** | **(21)** | **(21)** | **(21)** |
| - Amortisation of intangible assets |  |  |  |  |  |  | **—** | **—** | **—** | **—** | **—** |
| - Rehabilitation and other non-cash costs | (2) | 2 | 4 |  | 4 |  | **—** | **(12)** | **(12)** | **(12)** | **(12)** |
| - Retrenchment costs |  | (1) |  |  | (1) |  | **—** | **(1)** | **(1)** | **(1)** | **(1)** |
| **Total cash costs** <sup>(5)</sup> | 54 | 64 | 30 | 1 | 149 |  | **77** | **781** | **858** | **735** | **812** |
| Gold produced - oz (000) | 47 | 75 | 22 |  | 144 |  | **80** | **670** | **750** | **630** | **710** |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> | 1155 | 859 | 1338 |  | 1035 |  | **967** | **1165** | **1144** | **1165** | **1143** |
| <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup> *In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in* <br>*sustaining costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces.* <br>*"All-in sustaining costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |  |  |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |  |  |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |  |  |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |  |  |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |  |  |
| *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 48 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | 6 | 432 | 424 | 458 | 591 | 773 | 789 | (1) | 3034 | 442 | 527 | 40 | 1009 |
| By-product revenue |  | (2) |  | (1) |  | (4) | (4) |  | (9) | (2) | (4) |  | (6) |
| Amortisation of tangible, intangible and right of use assets | (4) | (107) | (113) | (87) | (64) | (256) | (379) |  | (899) | (67) | (113) | (1) | (181) |
| Adjusted for decommissioning and inventory amortisation |  |  |  | (1) |  | (1) |  |  | (2) | 1 |  |  | 1 |
| Corporate administration, marketing and related expenses | 135 |  |  |  |  |  |  |  |  |  |  |  |  |
| Lease payment sustaining | 1 | (1) | 6 |  | 5 | 21 | 3 |  | 35 | 15 | 21 | 1 | 37 |
| Sustaining exploration and study costs |  |  | 4 | 1 | 10 | 9 |  |  | 24 | 2 |  |  | 2 |
| Total sustaining capital expenditure | 2 | 71 | 101 | 174 | 85 | 218 | 145 |  | 723 | 87 | 35 |  | 122 |
| **All-in sustaining costs** <sup>(5)</sup> | 139 | 393 | 421 | 544 | 627 | 760 | 554 |  | 2906 | 478 | 467 | 40 | 985 |
| Gold sold - oz (000) |  | 298 | 201 | 269 | 289 | 499 | 507 |  | 1765 | 230 | 309 |  | 539 |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> |  | 1317 | 2096 | 2026 | 2165 | 1525 | 1094 |  | 1647 | 2078 | 1508 |  | 1825 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 49 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** |  |  |
| ALL-IN SUSTAINING COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| ALL-IN SUSTAINING COSTS | Cerro<br>Vanguardia | AngloGold <br>Ashanti <br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold <br>Ashanti <br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 441 | 391 | 139 | 2 | 973 |  | **432** | **5022** | **5454** | **4233** | **4665** |
| By-product revenue | (130) | (18) |  |  | (148) |  | **(2)** | **(163)** | **(165)** | **(159)** | **(161)** |
| Amortisation of tangible, intangible and right of use assets | (68) | (105) | (30) |  | (203) |  | **(107)** | **(1287)** | **(1394)** | **(908)** | **(1015)** |
| Adjusted for decommissioning and inventory amortisation | (3) | (1) |  |  | (4) |  | **—** | **(5)** | **(5)** | **(5)** | **(5)** |
| Corporate administration, marketing and related expenses |  |  |  |  |  | 3 | **—** | **138** | **138** | **138** | **138** |
| Lease payment sustaining |  | 23 | 8 |  | 31 | 2 | **(1)** | **106** | **105** | **103** | **102** |
| Sustaining exploration and study costs | 6 | 1 |  |  | 7 | 1 | **—** | **34** | **34** | **34** | **34** |
| Total sustaining capital expenditure | 64 | 119 | 37 |  | 220 | 3 | **71** | **1070** | **1141** | **925** | **996** |
| **All-in sustaining costs** <sup>(5)</sup> | 309 | 410 | 154 | 3 | 876 | 8 | **393** | **4914** | **5307** | **4360** | **4753** |
| Gold sold - oz (000) | 178 | 272 | 53 |  | 503 |  | **298** | **2807** | **3105** | **2300** | **2598** |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> | 1726 | 1506 | 2951 |  | 1741 |  | **1317** | **1751** | **1709** | **1895** | **1829** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 50 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** |
| TOTAL CASH COSTS | **Corporate and** <br>**other** <sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| TOTAL CASH COSTS | **Corporate and** <br>**other** <sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate and** <br>**other** <sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | 6 | 432 | 424 | 458 | 591 | 773 | 789 | (1) | 3034 | 442 | 527 | 40 | 1009 |
| - By-product revenue |  | (2) |  | (1) |  | (4) | (4) |  | (9) | (2) | (4) |  | (6) |
| - Inventory change |  | 8 | (3) | (4) |  | 3 | (12) |  | (16) | 3 | (5) |  | (2) |
| - Amortisation of tangible assets | (3) | (106) | (107) | (87) | (59) | (234) | (377) |  | (864) | (52) | (89) |  | (141) |
| - Amortisation of right of use assets |  | (1) | (6) |  | (5) | (22) | (2) |  | (35) | (15) | (24) | (1) | (40) |
| - Amortisation of intangible assets | (1) |  |  |  |  |  |  |  |  |  |  |  |  |
| - Rehabilitation and other non-cash costs |  | 17 | (13) | (13) | (11) | (6) | (3) |  | (46) | 4 |  | (1) | 3 |
| - Retrenchment costs |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total cash costs** <sup>(5)</sup> | 2 | 348 | 295 | 353 | 516 | 510 | 391 | (1) | 2064 | 379 | 406 | 37 | 822 |
| Gold produced - oz (000) |  | 303 | 199 | 266 | 289 | 492 | 500 |  | 1746 | 232 | 305 |  | 537 |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> |  | 1148 | 1482 | 1325 | 1783 | 1038 | 783 |  | 1182 | 1634 | 1330 |  | 1530 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 51 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** |  |  |
| TOTAL CASH COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| TOTAL CASH COSTS | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 441 | 391 | 139 | 2 | 973 |  | **432** | **5022** | **5454** | **4233** | **4665** |
| - By-product revenue | (130) | (18) |  |  | (148) |  | **(2)** | **(163)** | **(165)** | **(159)** | **(161)** |
| - Inventory change | (4) |  | 1 |  | (3) |  | **8** | **(21)** | **(13)** | **(9)** | **(1)** |
| - Amortisation of tangible assets | (68) | (86) | (24) |  | (178) |  | **(106)** | **(1186)** | **(1292)** | **(809)** | **(915)** |
| - Amortisation of right of use assets |  | (19) | (6) |  | (25) |  | **(1)** | **(100)** | **(101)** | **(98)** | **(99)** |
| - Amortisation of intangible assets |  |  |  |  |  |  | **—** | **(1)** | **(1)** | **(1)** | **(1)** |
| - Rehabilitation and other non-cash costs | (18) |  | 5 |  | (13) |  | **17** | **(56)** | **(39)** | **(53)** | **(36)** |
| - Retrenchment costs | (1) | (1) | (1) |  | (3) |  | **—** | **(3)** | **(3)** | **(3)** | **(3)** |
| **Total cash costs** <sup>(5)</sup> | 220 | 266 | 115 | 2 | 603 |  | **348** | **3491** | **3839** | **3100** | **3448** |
| Gold produced - oz (000) | 179 | 273 | 53 |  | 505 |  | **303** | **2788** | **3091** | **2288** | **2591** |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> | 1227 | 976 | 2165 |  | 1195 |  | **1148** | **1252** | **1242** | **1355** | **1330** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 52 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| ALL-IN SUSTAINING COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa <br>other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | (1) | 380 | 351 | 360 | 518 | 612 | 83 |  | 1924 | 430 | 479 | 36 | 945 |
| By-product revenue |  | (2) |  | (1) | (1) | (2) |  |  | (4) | (2) | (3) |  | (5) |
| Amortisation of tangible, intangible and right of use assets | (4) | (92) | (79) | (75) | (51) | (138) | (20) |  | (363) | (77) | (112) | (1) | (190) |
| Adjusted for decommissioning and inventory amortisation |  |  |  |  |  | (1) |  |  | (1) | (1) |  |  | (1) |
| Corporate administration, marketing and related expenses | 115 |  |  |  |  |  |  |  |  |  |  |  |  |
| Lease payment sustaining | 1 | (1) | 6 |  | 3 | 22 |  |  | 31 | 18 | 10 | 1 | 29 |
| Sustaining exploration and study costs |  |  |  | 2 | 6 | 6 |  |  | 14 | 1 |  |  | 1 |
| Total sustaining capital expenditure | 1 | 68 | 108 | 145 | 93 | 181 | 20 |  | 547 | 65 | 37 |  | 102 |
| **All-in sustaining costs** <sup>(5)</sup> | 112 | 354 | 385 | 430 | 569 | 680 | 83 |  | 2147 | 434 | 411 | 36 | 881 |
| Gold sold - oz (000) |  | 309 | 238 | 222 | 272 | 479 | 44 |  | 1255 | 261 | 317 |  | 578 |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> |  | 1146 | 1614 | 1942 | 2093 | 1418 | 1858 |  | 1709 | 1665 | 1297 |  | 1526 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 53 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ALL-IN SUSTAINING COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** |  |  |
| ALL-IN SUSTAINING COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| ALL-IN SUSTAINING COSTS | Cerro <br>Vanguardia | AngloGold <br>Ashanti <br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro <br>Vanguardia | AngloGold <br>Ashanti <br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 368 | 352 | 136 | 2 | 858 |  | **380** | **3726** | **4106** | **3643** | **4023** |
| By-product revenue | (109) | (2) |  |  | (111) |  | **(2)** | **(120)** | **(122)** | **(120)** | **(122)** |
| Amortisation of tangible, intangible and right of use assets | (61) | (112) | (22) |  | (195) |  | **(92)** | **(752)** | **(844)** | **(732)** | **(824)** |
| Adjusted for decommissioning and inventory amortisation | 9 | (1) | (1) |  | 7 |  | **—** | **5** | **5** | **5** | **5** |
| Corporate administration, marketing and related expenses |  |  |  |  |  | 3 | **—** | **118** | **118** | **118** | **118** |
| Lease payment sustaining |  | 27 | 10 |  | 37 | 1 | **(1)** | **99** | **98** | **99** | **98** |
| Sustaining exploration and study costs | 6 | 2 |  |  | 8 | 1 | **—** | **24** | **24** | **24** | **24** |
| Total sustaining capital expenditure | 71 | 98 | 40 |  | 209 | 5 | **68** | **864** | **932** | **844** | **912** |
| **All-in sustaining costs** <sup>(5)</sup> | 284 | 365 | 162 | 2 | 813 | 10 | **354** | **3963** | **4317** | **3880** | **4234** |
| Gold sold - oz (000) | 183 | 274 | 80 |  | 537 |  | **309** | **2370** | **2679** | **2326** | **2635** |
| **All-in sustaining costs per ounce - $/oz** <sup>(1)</sup> | 1544 | 1334 | 2039 |  | 1514 |  | **1146** | **1672** | **1611** | **1668** | **1607** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 54 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** |
| TOTAL CASH COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| TOTAL CASH COSTS | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-**<br>**managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate** <br>**and other** <br><sup>(3)</sup> | **Non-**<br>**managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| **Cost of sales per segmental information** <sup>(2)</sup> | (1) | 380 | 351 | 360 | 518 | 612 | 83 |  | 1924 | 430 | 479 | 36 | 945 |
| - By-product revenue |  | (2) |  | (1) | (1) | (2) |  |  | (4) | (2) | (3) |  | (5) |
| - Inventory change |  | 2 | 1 | (2) | 4 | 7 | (17) |  | (7) | (3) | (7) |  | (10) |
| - Amortisation of tangible assets | (3) | (91) | (75) | (75) | (48) | (111) | (19) |  | (328) | (61) | (106) |  | (167) |
| - Amortisation of right of use assets | (1) | (1) | (4) |  | (3) | (27) | (1) |  | (35) | (16) | (6) | (1) | (23) |
| - Amortisation of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
| - Rehabilitation and other non-cash costs |  | 1 | (7) | (14) | (6) | (3) |  |  | (30) | (2) | (2) | (1) | (5) |
| - Retrenchment costs |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Total cash costs** <sup>(5)</sup> | (5) | 289 | 265 | 268 | 465 | 476 | 46 | (1) | 1519 | 347 | 354 | 34 | 735 |
| Gold produced - oz (000) |  | 309 | 237 | 221 | 273 | 483 | 40 |  | 1254 | 259 | 313 |  | 572 |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> |  | 935 | 1118 | 1214 | 1703 | 984 | 1165 |  | 1212 | 1343 | 1132 |  | 1287 |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining costs per* <br>*ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining costs per ounce" and* <br>*"total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 55 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE A**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH COSTS | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** |  |  |
| TOTAL CASH COSTS | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP**<br> **GROUP EXCL. SUKARI**<sup>(6)</sup> |  |  |
| TOTAL CASH COSTS | Cerro <br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro <br>Vanguardia | AngloGold<br>Ashanti<br>Mineração | Serra <br>Grande | Americas <br>other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> | **Managed** <br>**operations** | **Group total** <sup>(4)</sup> |
| **Cost of sales per segmental information** <sup>(2)</sup> | 368 | 352 | 136 | 2 | 858 |  | **380** | **3726** | **4106** | **3643** | **4023** |
| - By-product revenue | (109) | (2) |  |  | (111) |  | **(2)** | **(120)** | **(122)** | **(120)** | **(122)** |
| - Inventory change | 1 | (2) |  |  | (1) |  | **2** | **(18)** | **(16)** | **(1)** | **1** |
| - Amortisation of tangible assets | (61) | (89) | (18) |  | (168) |  | **(91)** | **(666)** | **(757)** | **(647)** | **(738)** |
| - Amortisation of right of use assets |  | (23) | (4) |  | (27) |  | **(1)** | **(86)** | **(87)** | **(86)** | **(87)** |
| - Amortisation of intangible assets |  |  |  |  |  |  | **—** | **—** | **—** | **—** | **—** |
| - Rehabilitation and other non-cash costs | (10) | 2 |  |  | (8) |  | **1** | **(43)** | **(42)** | **(43)** | **(42)** |
| - Retrenchment costs | (1) | (1) | (1) |  | (3) |  | **—** | **(3)** | **(3)** | **(3)** | **(3)** |
| **Total cash costs** <sup>(5)</sup> | 189 | 237 | 113 | 2 | 541 |  | **289** | **2790** | **3079** | **2744** | **3033** |
| Gold produced - oz (000) | 175 | 271 | 80 |  | 526 |  | **309** | **2352** | **2661** | **2312** | **2621** |
| **Total cash costs per ounce - $/oz** <sup>(1)</sup> | 1073 | 876 | 1411 |  | 1027 |  | **935** | **1187** | **1157** | **1187** | **1157** |
| <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(1)</sup>*In addition to the operational performances of the mines, "all-in sustaining costs per ounce" and "total cash costs per ounce" are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports "all-in sustaining* <br>*costs per ounce" calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports "total cash costs per ounce" calculated to the nearest US dollar amount and gold produced in ounces. "All-in sustaining* <br>*costs per ounce" and "total cash costs per ounce" may not be calculated based on amounts presented in this table due to rounding.* |
| <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* | <sup>(2)</sup> *Refer to Segmental reporting.* |  |  |
| <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* | <sup>(3)</sup> *Corporate includes non-gold producing managed operations.* |  |  |
| <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* | <sup>(4)</sup>*Total including equity-accounted non-managed joint ventures.* |  |  |
| <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* | <sup>(5)</sup> *"Total cash costs" and "all-in sustaining costs" may not be calculated based on amounts presented in this table due to rounding.* |  |  |
| <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(6)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 56 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE B**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER 4 AND YEAR I 2025 AND 2024

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AVERAGE GOLD PRICE <br>RECEIVED PER OUNCE | **Quarter** | **Quarter** | **Quarter** | Quarter | Quarter | Quarter | **Year** | **Year** | **Year** | Year | Year | Year |
| AVERAGE GOLD PRICE <br>RECEIVED PER OUNCE | **ended** | **ended** | **ended** | ended | ended | ended | **ended** | **ended** | **ended** | ended | ended | ended |
| AVERAGE GOLD PRICE <br>RECEIVED PER OUNCE | **Dec** | **Dec** | **Dec** | Dec | Dec | Dec | **Dec** | **Dec** | **Dec** | Dec | Dec | Dec |
| AVERAGE GOLD PRICE <br>RECEIVED PER OUNCE | **2025** | **2025** | **2025** | 2024 | 2024 | 2024 | **2025** | **2025** | **2025** | 2024 | 2024 | 2024 |
| AVERAGE GOLD PRICE <br>RECEIVED PER OUNCE | **Unaudited** | **Unaudited** | **Unaudited** | Unaudited | Unaudited | Unaudited | **Unaudited** | **Unaudited** | **Unaudited** | Unaudited | Unaudited | Unaudited |
| *US Dollar millions, except as otherwise noted* | **Managed** <br>**operations**<br>| **Non-**<br>**managed** <br>**joint** <br>**ventures**<br>| **Group**<br>**(Equity)** <br>| Managed <br>operations<br>| Non-<br>managed <br>joint <br>ventures<br>| Group<br>(Equity) <br>| **Managed** <br>**operations**<br>| **Non-**<br>**managed** <br>**joint** <br>**ventures**<br>| **Group**<br>**(Equity)** <br>| Managed <br>operations<br>| Non-<br>managed <br>joint ventures<br>| Group<br>(Equity) <br>|
| Gold income per income statement | **3023** | **327** | **3023** | 1716 | 208 | 1716 | **9730** | **1038** | **9730** | 5673 | 741 | 5673 |
| Associates and joint ventures' share of gold income |  |  | **327** |  |  | 208 |  |  | **1038** |  |  | 741 |
| Gold income | **3023** | **327** | **3350** | 1716 | 208 | 1924 | **9730** | **1038** | **10768** | 5673 | 741 | 6414 |
| Gold sold - oz (000) | **725** | **78** | **803** | 647 | 78 | 725 | **2807** | **298** | **3105** | 2370 | 309 | 2679 |
| Average gold price received per ounce - $/oz  | **4172** | **4162** | **4171** | 2652 | 2662 | 2653 | **3466** | **3483** | **3468** | 2393 | 2401 | 2394 |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 57 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE C**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER 4 2025 AND 2024

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** | **FOR THE QUARTER ENDED 31 DECEMBER 2025** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| Sustaining capital expenditure | 1 | 21 | 21 | 39 | 47 | 37 | 53 | 43 |  | 219 | 29 | 13 |  | 42 |
| Non-sustaining capital expenditure |  | 20 | 20 | 24 | 17 | 13 | 5 | 35 |  | 94 |  | 19 |  | 19 |
| **Capital expenditure** | 1 | 41 | 41 | 63 | 64 | 50 | 58 | 78 |  | 313 | 29 | 32 |  | 61 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP** | **GROUP EXCL. SUKARI**<sup>(2)</sup> | **GROUP EXCL. SUKARI**<sup>(2)</sup> |
| CAPITAL EXPENDITURE | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| Sustaining capital expenditure | 21 | 41 | 4 |  | 66 | 1 | **21** | **329** | **350** | **286** | **307** |
| Non-sustaining capital expenditure |  | 5 |  |  | 5 | 7 | **20** | **125** | **145** | **90** | **110** |
| **Capital expenditure** | 21 | 46 | 4 |  | 71 | 8 | **41** | **454** | **495** | **376** | **417** |

---

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** | **FOR THE QUARTER ENDED 31 DECEMBER 2024** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| Sustaining capital expenditure |  | 19 | 19 | 28 | 34 | 26 | 52 | 20 |  | 160 | 26 | 11 |  | 37 |
| Non-sustaining capital expenditure |  | 17 | 17 | 22 | 20 | 3 | 6 |  |  | 51 |  | 3 |  | 3 |
| **Capital expenditure** |  | 36 | 36 | 50 | 54 | 29 | 58 | 20 |  | 211 | 26 | 14 |  | 40 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP** | **GROUP EXCL. SUKARI**<sup>(2)</sup> | **GROUP EXCL. SUKARI**<sup>(2)</sup> |
| CAPITAL EXPENDITURE | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| Sustaining capital expenditure | 24 | 30 | 12 |  | 66 | 3 | **19** | **266** | **285** | **246** | **265** |
| Non-sustaining capital expenditure |  |  |  |  |  | 13 | **17** | **67** | **84** | **67** | **84** |
| **Capital expenditure** | 24 | 30 | 12 |  | 66 | 16 | **36** | **333** | **369** | **313** | **349** |

---

<sup>(1)</sup> *Total including equity-accounted non-managed joint ventures.*

<sup>(2)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.*

*Rounding of figures may result in computational discrepancies.*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 58 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE C**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

YEAR 2025 AND 2024

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** | **FOR THE YEAR ENDED 31 DECEMBER 2025** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| Sustaining capital expenditure | 2 | 71 | 71 | 101 | 174 | 85 | 218 | 145 |  | 723 | 87 | 35 |  | 122 |
| Non-sustaining capital expenditure |  | 80 | 80 | 72 | 35 | 17 | 20 | 117 |  | 261 |  | 63 |  | 63 |
| **Capital expenditure** | 2 | 151 | 151 | 173 | 209 | 102 | 238 | 262 |  | 984 | 87 | 98 |  | 185 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP** | **GROUP EXCL. SUKARI**<sup>(2)</sup> | **GROUP EXCL. SUKARI**<sup>(2)</sup> |
| CAPITAL EXPENDITURE | Cerro <br>Vanguardia | AngloGold <br>Ashanti <br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro <br>Vanguardia | AngloGold <br>Ashanti <br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| Sustaining capital expenditure | 64 | 119 | 37 |  | 220 | 3 | **71** | **1070** | **1141** | **925** | **996** |
| Non-sustaining capital expenditure |  | 16 |  |  | 16 | 39 | **80** | **379** | **459** | **262** | **342** |
| **Capital expenditure** | 64 | 135 | 37 |  | 236 | 42 | **151** | **1449** | **1600** | **1187** | **1338** |

---

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2024** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AFRICA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** | **AUSTRALIA** |
| CAPITAL EXPENDITURE | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| *in US Dollar millions, except as otherwise noted* | **Corporate**<br> **and other** | Kibali | **Non-managed** <br>**joint ventures** | Iduapriem | Obuasi | Siguiri | Geita | Sukari | Africa other | **Managed** <br>**operations** | Sunrise <br>Dam | Tropicana | Australia <br>other | **Australia** |
| Sustaining capital expenditure | 1 | 68 | 68 | 108 | 145 | 93 | 181 | 20 |  | 547 | 65 | 37 |  | 102 |
| Non-sustaining capital expenditure |  | 57 | 57 | 61 | 57 | 9 | 15 |  |  | 142 |  | 51 |  | 51 |
| **Capital expenditure** | 1 | 125 | 125 | 169 | 202 | 102 | 196 | 20 |  | 689 | 65 | 88 |  | 153 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CAPITAL EXPENDITURE | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **AMERICAS** | **Projects** | **GROUP** | **GROUP** | **GROUP** | **GROUP EXCL. SUKARI**<sup>(2)</sup> | **GROUP EXCL. SUKARI**<sup>(2)</sup> |
| CAPITAL EXPENDITURE | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| *in US Dollar millions, except as otherwise noted* | Cerro<br>Vanguardia | AngloGold<br>Ashanti<br>Mineração  | Serra Grande | Americas other | **Americas** | **Projects** | **Non-**<br>**managed** <br>**joint** <br>**ventures** | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> | **Managed** <br>**operations** | **Group total** <sup>(1)</sup> |
| Sustaining capital expenditure | 71 | 98 | 40 |  | 209 | 5 | **68** | **864** | **932** | **844** | **912** |
| Non-sustaining capital expenditure |  |  |  |  |  | 33 | **57** | **226** | **283** | **226** | **283** |
| **Capital expenditure** | 71 | 98 | 40 |  | 209 | 38 | **125** | **1090** | **1215** | **1070** | **1195** |

---

<sup>(1)</sup> *Total including equity-accounted non-managed joint ventures.*

<sup>(2)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.*

*Rounding of figures may result in computational discrepancies.*

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 59 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE D** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| ADJUSTED EBITDA | **Quarter** | Quarter | **Year** | Year |
| ADJUSTED EBITDA | **ended** | ended | **ended** | ended |
| ADJUSTED EBITDA | **Dec** | Dec | **Dec** | Dec |
| ADJUSTED EBITDA | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **Adjusted EBITDA** <sup>(1)</sup> |  |  |  |  |
| Profit before taxation | **1444** | 698 | **4276** | 1672 |
| Add back: |  |  |  |  |
| Finance costs and unwinding of obligations | **54** | 41 | **220** | 167 |
| Finance income | **(38)** | (38) | **(152)** | (160) |
| Amortisation of tangible, right of use and intangible assets | **422** | 238 | **1287** | 752 |
| Other amortisation | **8** | (4) | **8** | (3) |
| Associates and joint ventures share of amortisation, interest, <br>taxation and other<br>| **160** | 109 | **452** | 307 |
| **EBITDA** | **2050** | 1044 | **6091** | 2735 |
| **Adjustments:** |  |  |  |  |
| Foreign exchange and fair value adjustments | **(16)** | (68) | **41** | 1 |
| Care and maintenance costs | **9** | (28) | **27** | 51 |
| Retrenchment and related costs | **22** | 8 | **47** | 17 |
| Impairment (reversal of impairment), derecognition of assets <br>and (profit) loss on disposal<br>| **110** | (72) | **88** | (58) |
| Joint ventures share of costs | **—** |  | **—** | 1 |
| **Adjusted EBITDA** | **2175** | 884 | **6294** | 2747 |
| <sup>(1)</sup> *EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* | <sup>(1)</sup> *EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* | <sup>(1)</sup> *EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* | <sup>(1)</sup> *EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* | <sup>(1)</sup> *EBITDA (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 60 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE E**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | |
|:---|:---|:---|
| ADJUSTED NET DEBT (CASH)<sup>(1)</sup> | **As at** | As at |
| ADJUSTED NET DEBT (CASH)<sup>(1)</sup> | **Dec** | Dec |
| ADJUSTED NET DEBT (CASH)<sup>(1)</sup> | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited |
| Borrowings - non-current portion | **2025** | 1901 |
| Borrowings - current portion | **19** | 83 |
| Lease liabilities - non-current portion  | **155** | 65 |
| Lease liabilities - current portion | **59** | 76 |
| Total borrowings | **2258** | 2125 |
| Less cash and cash equivalents, net of bank overdraft | **(2882)** | (1397) |
| **Net debt (cash)** | **(624)** | 728 |
| Adjustments: |  |  |
| IFRS16 lease adjustments | **(204)** | (126) |
| Unamortised portion of borrowing costs | **16** | 26 |
| Cash restricted for use | **(67)** | (61) |
| **Adjusted net debt (cash)** | **(879)** | 567 |
| **Adjusted net debt (cash) to Adjusted EBITDA ratio** | **(0.14) :1** | 0.21:1 |
| **Total borrowings to profit before taxation** | **0.53:1** | 1.27:1 |
| <sup>(1)</sup> *Net debt (cash) (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* | <sup>(1)</sup> *Net debt (cash) (as adjusted) and prepared in terms of the formula set out in the Revolving Credit Agreements.* |  |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 61 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **NON-GAAP DISCLOSURE I NOTE F**  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FREE CASH FLOW | **Quarter** | Quarter | **Year** | Year |
| FREE CASH FLOW | **ended** | ended | **ended** | ended |
| FREE CASH FLOW | **Dec** | Dec | **Dec** | Dec |
| FREE CASH FLOW | **2025** | 2024 | **2025** | 2024 |
| *US Dollar millions, except as otherwise noted* | **Unaudited** | Unaudited | **Unaudited** | Unaudited |
| **Net cash flow from operating activities**<sup>(1)</sup> | **1622** | 690 | **4784** | 1968 |
| Repayment of loans advanced to joint ventures | **84** | 10 | **161** | 149 |
| Dividends paid to non-controlling interests | **(202)** | (65) | **(588)** | (71) |
| **Operating cash flow** | **1504** | 635 | **4357** | 2046 |
| Capital expenditure on tangible and intangible assets | **(454)** | (333) | **(1449)** | (1090) |
| **Free cash flow** | **1050** | 302 | **2908** | 956 |
| <sup>(1)</sup> *Includes working capital movements as per table below.* | <sup>(1)</sup> *Includes working capital movements as per table below.* | <sup>(1)</sup> *Includes working capital movements as per table below.* | <sup>(1)</sup> *Includes working capital movements as per table below.* | <sup>(1)</sup> *Includes working capital movements as per table below.* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| (Increase) decrease in inventories | **(22)** | (55) | **(57)** | (78) |
| (Increase) decrease in trade receivables | **(38)** | (61) | **(219)** | (182) |
| (Decrease) increase in trade payables | **88** | (7) | **102** | 6 |
| Movement in working capital | **28** | (123) | **(174)** | (254) |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 62 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **OTHER INFORMATION I EXCHANGE RATES** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | |
|:---|:---|:---|
| EXCHANGE RATES | **Dec** | Dec |
| EXCHANGE RATES | **2025** | 2024 |
| EXCHANGE RATES | **Unaudited** | Unaudited |
| **ZAR/USD** |  |  |
| Average for the year | **17.86** | 18.32 |
| Average for the quarter | **17.10** | 17.89 |
| Closing | **16.56** | 18.85 |
| **AUD/USD** |  |  |
| Average for the year | **1.55** | 1.52 |
| Average for the quarter | **1.52** | 1.53 |
| Closing | **1.50** | 1.62 |
| **BRL/USD** |  |  |
| Average for the year | **5.59** | 5.39 |
| Average for the quarter | **5.39** | 5.83 |
| Closing | **5.50** | 6.19 |
| **ARS/USD** |  |  |
| Average for the year | **1246.73** | 916.78 |
| Average for the quarter | **1436.37** | 1000.92 |
| Closing | **1459.42** | 1032.50 |
| **EGP/USD** |  |  |
| Average for the year | **49.19** | 45.36 |
| Average for the quarter | **47.45** | 49.54 |
| Closing | **47.65** | 50.89 |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 63 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **OPERATING RESULTS I OPERATIONS AT A GLANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER 4 2025 AND 2024

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| OPERATIONS AT A GLANCE | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** |
| OPERATIONS AT A GLANCE | **Gold production**<br>**oz (000)** | **Gold production**<br>**oz (000)** | **Open-pit treated**<br>**000 tonnes** | **Open-pit treated**<br>**000 tonnes** | **Underground** <br>**milled / treated 000** <br>**tonnes** | **Underground** <br>**milled / treated 000** <br>**tonnes** | **Other milled /** <br>**treated**<br>**000 tonnes** | **Other milled /** <br>**treated**<br>**000 tonnes** | **Open-pit recovered**<br> **grade g/tonne** | **Open-pit recovered**<br> **grade g/tonne** | **Underground** <br>**recovered grade**<br> **g/tonne** | **Underground** <br>**recovered grade**<br> **g/tonne** | **Other recovered** <br>**grade g/tonne** | **Other recovered** <br>**grade g/tonne** | **Total recovered** <br>**grade g/tonne** | **Total recovered** <br>**grade g/tonne** |
| OPERATIONS AT A GLANCE | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 |
| **AFRICA Non-managed joint ventures** | **79** | 80 | **639** | 577 | **293** | 394 | **—** |  | **1.60** | 1.13 | **4.89** | 4.64 | **—** |  | **2.64** | 2.55 |
| Kibali - Attributable 45% <sup>(1)</sup> | **79** | 80 | **639** | 577 | **293** | 394 | **—** |  | **1.60** | 1.13 | **4.89** | 4.64 | **—** |  | **2.64** | 2.55 |
| **AFRICA Managed operations** | **439** | 360 | **7977** | 5863 | **1338** | 1080 | **—** | 434 | **1.06** | 1.03 | **3.78** | 4.77 | **—** | 0.07 | **1.47** | 1.52 |
| Iduapriem | **50** | 50 | **1345** | 1422 | **—** |  | **—** |  | **1.16** | 1.09 | **—** |  | **—** |  | **1.16** | 1.09 |
| Obuasi | **72** | 60 | **—** |  | **359** | 301 | **—** | 11 | **—** |  | **6.26** | 6.21 | **—** | 1.02 | **6.26** | 6.01 |
| Siguiri <sup>(3)</sup> | **85** | 74 | **3020** | 2938 | **—** |  | **—** |  | **0.88** | 0.78 | **—** |  | **—** |  | **0.88** | 0.78 |
| Geita | **113** | 136 | **766** | 740 | **646** | 686 | **—** |  | **2.05** | 1.85 | **3.01** | 4.17 | **—** |  | **2.49** | 2.97 |
| Sukari <sup>(3)</sup> | **119** | 40 | **2846** | 763 | **333** | 93 | **—** | 423 | **0.93** | 1.04 | **2.59** | 4.52 | **—** | 0.05 | **1.16** | 0.97 |
| **AUSTRALIA** | **151** | 166 | **1646** | 1603 | **991** | 977 | **—** |  | **1.42** | 1.52 | **2.37** | 2.80 | **—** |  | **1.78** | 2.00 |
| Sunrise Dam | **58** | 66 | **407** | 331 | **583** | 622 | **—** |  | **1.61** | 1.25 | **1.98** | 2.63 | **—** |  | **1.83** | 2.15 |
| Tropicana - Attributable 70% | **93** | 100 | **1239** | 1272 | **408** | 355 | **—** |  | **1.36** | 1.59 | **2.93** | 3.09 | **—** |  | **1.75** | 1.92 |
| **AMERICAS** | **130** | 144 | **179** | 317 | **692** | 612 | **684** | 676 | **2.87** | 2.37 | **3.89** | 4.83 | **1.25** | 1.14 | **2.61** | 2.79 |
| Cerro Vanguardia <sup>(3)(5)</sup> | **42** | 47 | **179** | 232 | **137** | 107 | **549** | 596 | **2.87** | 2.73 | **4.74** | 6.19 | **0.28** | 0.27 | **1.53** | 1.56 |
| AngloGold Ashanti Mineração <sup>(2)</sup> | **77** | 75 | **—** |  | **341** | 245 | **135** | 80 | **—** |  | **4.96** | 7.01 | **5.16** | 7.59 | **5.02** | 7.15 |
| Serra Grande | **11** | 22 | **—** | 85 | **214** | 260 | **—** |  | **—** | 1.39 | **1.63** | 2.21 | **—** |  | **1.63** | 2.01 |
| **Managed operations** | **720** | 670 | **9802** | 7783 | **3021** | 2669 | **684** | 1110 | **1.15** | 1.18 | **3.34** | 4.06 | **1.25** | 0.72 | **1.66** | 1.80 |
| **Non-managed joint ventures** | **79** | 80 | **639** | 577 | **293** | 394 | **—** |  | **1.60** | 1.13 | **4.89** | 4.64 | **—** |  | **2.64** | 2.55 |
| **Group total including equity-accounted non-**<br>**managed joint ventures**<br>| **799** | 750 | **10441** | 8360 | **3314** | 3063 | **684** | 1110 | **1.18** | 1.18 | **3.48** | 4.13 | **1.25** | 0.72 | **1.72** | 1.86 |
| **Managed operations (excluding Sukari)**<sup>(4)</sup> | **601** | 630 | **6956** | 7020 | **2688** | 2576 | **684** | 687 | **1.24** | 1.20 | **3.43** | 4.04 | **1.25** | 1.14 | **1.81** | 1.91 |
| **Non-managed joint ventures** | **79** | 80 | **639** | 577 | **293** | 394 | **—** |  | **1.60** | 1.13 | **4.89** | 4.64 | **—** |  | **2.64** | 2.55 |
| **Group total including equity-accounted non-**<br>**managed joint ventures (excluding Sukari)**<sup>(4)</sup><br>| **680** | 710 | **7595** | 7597 | **2981** | 2970 | **684** | 687 | **1.27** | 1.19 | **3.58** | 4.12 | **1.25** | 1.14 | **1.88** | 1.96 |
| <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* |
| <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* |
| <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* |
| <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for Q4 2024.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 64 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **FINANCIAL RESULTS I OPERATIONS AT A GLANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

QUARTER 4 2025 AND 2024

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| OPERATIONS AT A GLANCE | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE QUARTERS ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** |
| OPERATIONS AT A GLANCE | **Cost of sales** | **Cost of sales** | **Gross profit** | **Gross profit** | **Total cash costs per** <br>**ounce\***  | **Total cash costs per** <br>**ounce\***  | **All-in sustaining costs** <br>**per ounce\*** | **All-in sustaining costs** <br>**per ounce\*** | **Sustaining MRD /** <br>**Stripping capital** | **Sustaining MRD /** <br>**Stripping capital** | **Other sustaining** <br>**capital** | **Other sustaining** <br>**capital** | **Non-sustaining capital\*** | **Non-sustaining capital\*** |
| OPERATIONS AT A GLANCE | **$m** | **$m** | **$m** | **$m** | **$/oz** | **$/oz** | **$/oz** | **$/oz** | **$m** | **$m** | **$m** | **$m** | **$m** | **$m** |
| OPERATIONS AT A GLANCE | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 | **Dec-25** | Dec-24 |
| **AFRICA Non-managed joint ventures** | **96** | 101 | **231** | 107 | **1156** | 967 | **1108** | 1188 | **6** | 5 | **15** | 14 | **20** | 17 |
| Kibali - Attributable 45% <sup>(1)</sup> | **96** | 101 | **231** | 107 | **1156** | 967 | **1108** | 1188 | **6** | 5 | **15** | 14 | **20** | 17 |
| **AFRICA Managed operations** | **893** | 557 | **966** | 351 | **1297** | 1225 | **1830** | 1780 | **109** | 73 | **110** | 87 | **94** | 51 |
| Iduapriem | **108** | 91 | **117** | 34 | **1489** | 1478 | **2303** | 2131 | **33** | 17 | **6** | 11 | **24** | 22 |
| Obuasi | **138** | 101 | **190** | 57 | **1376** | 1169 | **2079** | 1905 | **30** | 21 | **17** | 13 | **17** | 20 |
| Siguiri <sup>(3)</sup> | **173** | 134 | **156** | 48 | **1898** | 1747 | **2493** | 2186 | **4** | 7 | **33** | 19 | **13** | 3 |
| Geita | **253** | 148 | **231** | 176 | **1187** | 892 | **1621** | 1327 | **31** | 16 | **22** | 36 | **5** | 6 |
| Sukari <sup>(3)</sup> | **221** | 83 | **272** | 36 | **841** | 1165 | **1211** | 1858 | **11** | 12 | **32** | 8 | **35** |  |
| Administration and other | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **AUSTRALIA** | **285** | 259 | **367** | 184 | **1445** | 1171 | **1783** | 1465 | **19** | 18 | **23** | 19 | **19** | 3 |
| Sunrise Dam | **116** | 114 | **132** | 63 | **1601** | 1406 | **2145** | 1888 | **14** | 14 | **15** | 12 | **—** |  |
| Tropicana - Attributable 70% | **158** | 135 | **246** | 131 | **1234** | 924 | **1444** | 1086 | **5** | 4 | **8** | 7 | **19** | 3 |
| Administration and other | **11** | 10 | **(11)** | (10) | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **AMERICAS**  | **245** | 230 | **312** | 169 | **1178** | 1035 | **1806** | 1574 | **35** | 39 | **31** | 27 | **5** |  |
| Cerro Vanguardia<sup>(3)</sup> | **94** | 99 | **90** | 47 | **1142** | 1155 | **1850** | 1811 | **13** | 11 | **8** | 13 | **—** |  |
| AngloGold Ashanti Mineração <sup>(2)</sup>  | **120** | 98 | **207** | 98 | **1058** | 859 | **1670** | 1344 | **20** | 22 | **21** | 8 | **5** |  |
| Serra Grande | **31** | 32 | **15** | 25 | **2095** | 1338 | **2583** | 1842 | **2** | 6 | **2** | 6 | **—** |  |
| Administration and other | **—** | 1 | **—** | (1) | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **PROJECTS** | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **1** | 3 | **7** | 13 |
| Colombian projects | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **1** | 8 |
| North American projects | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **1** | 3 | **6** | 5 |
| **CORPORATE AND OTHER** | **2** | (3) | **(2)** | 3 | **—** |  | **—** |  | **—** |  | **1** |  | **—** |  |
| **Managed operations** | **1425** | 1043 | **1643** | 707 | **1307** | 1165 | **1881** | 1702 | **163** | 130 | **166** | 136 | **125** | 67 |
| **Non-managed joint ventures** | **96** | 101 | **231** | 107 | **1156** | 967 | **1108** | 1188 | **6** | 5 | **15** | 14 | **20** | 17 |
| **Group total including equity-accounted non-**<br>**managed joint ventures** <br>| **1521** | 1144 | **1874** | 814 | **1292** | 1144 | **1805** | 1647 | **169** | 135 | **181** | 150 | **145** | 84 |
| **Managed operations (excluding Sukari)**<sup>(4)</sup> | **1204** | 960 | **1371** | 671 | **1398** | 1165 | **2012** | 1691 | **152** | 118 | **134** | 128 | **90** | 67 |
| **Non-managed joint ventures** | **96** | 101 | **231** | 107 | **1156** | 967 | **1108** | 1188 | **6** | 5 | **15** | 14 | **20** | 17 |
| **Group total including equity-accounted non-**<br>**managed joint ventures (excluding Sukari)**<sup>(4)</sup><br>| **1300** | 1061 | **1602** | 778 | **1370** | 1143 | **1908** | 1633 | **158** | 123 | **149** | 142 | **110** | 84 |
| <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* |
| <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* |
| <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* |
| <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 65 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **OPERATING RESULTS I OPERATIONS AT A GLANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

YEAR 2025 AND 2024

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| OPERATIONS AT A GLANCE | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** |
| OPERATIONS AT A GLANCE | **Gold production**<br>**oz (000)** | **Gold production**<br>**oz (000)** | **Open-pit treated**<br>**000 tonnes** | **Open-pit treated**<br>**000 tonnes** | **Underground** <br>**milled / treated 000** <br>**tonnes** | **Underground** <br>**milled / treated 000** <br>**tonnes** | **Other milled /** <br>**treated** <br>**000 tonnes** | **Other milled /** <br>**treated** <br>**000 tonnes** | **Open-pit recovered** <br>**grade g/tonne** | **Open-pit recovered** <br>**grade g/tonne** | **Underground** <br>**recovered grade** <br>**g/tonne** | **Underground** <br>**recovered grade** <br>**g/tonne** | **Other recovered** <br>**grade g/tonne** | **Other recovered** <br>**grade g/tonne** | **Total recovered** <br>**grade g/tonne** | **Total recovered** <br>**grade g/tonne** |
| OPERATIONS AT A GLANCE | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** |
| **AFRICA Non-managed joint ventures** | **303** | 309 | **2437** | 2229 | **1308** | 1598 | **—** |  | **1.37** | 0.99 | **4.65** | 4.63 | **—** |  | **2.52** | 2.51 |
| Kibali - Attributable 45% <sup>(1)</sup> | **303** | 309 | **2437** | 2229 | **1308** | 1598 | **—** |  | **1.37** | 0.99 | **4.65** | 4.63 | **—** |  | **2.52** | 2.51 |
| **AFRICA Managed operations** | **1746** | 1254 | **29543** | 20083 | **5108** | 3879 | **190** | 564 | **1.08** | 1.06 | **4.25** | 4.54 | **0.34** | 0.29 | **1.56** | 1.59 |
| Iduapriem | **199** | 237 | **5116** | 5410 | **—** |  | **—** |  | **1.21** | 1.36 | **—** |  | **—** |  | **1.21** | 1.36 |
| Obuasi | **266** | 221 | **—** |  | **1336** | 1144 | **—** | 141 | **—** |  | **6.19** | 5.89 | **—** | 0.99 | **6.19** | 5.35 |
| Siguiri <sup>(3)</sup> | **289** | 273 | **10813** | 11103 | **—** |  | **—** |  | **0.83** | 0.76 | **—** |  | **—** |  | **0.83** | 0.76 |
| Geita | **492** | 483 | **2594** | 2807 | **2611** | 2642 | **—** |  | **2.23** | 1.64 | **3.64** | 3.95 | **—** |  | **2.94** | 2.76 |
| Sukari <sup>(3)</sup> | **500** | 40 | **11020** | 763 | **1161** | 93 | **190** | 423 | **0.98** | 1.04 | **3.41** | 4.52 | **0.34** | 0.05 | **1.26** | 0.97 |
| **AUSTRALIA** | **537** | 572 | **6556** | 6427 | **3776** | 3709 | **—** |  | **1.16** | 1.19 | **2.41** | 2.73 | **—** |  | **1.62** | 1.75 |
| Sunrise Dam | **232** | 259 | **1496** | 1494 | **2377** | 2399 | **—** |  | **1.37** | 1.18 | **2.17** | 2.62 | **—** |  | **1.86** | 2.07 |
| Tropicana - Attributable 70% | **305** | 313 | **5060** | 4933 | **1399** | 1310 | **—** |  | **1.10** | 1.20 | **2.81** | 2.93 | **—** |  | **1.47** | 1.56 |
| **AMERICAS**  | **505** | 526 | **722** | 897 | **2831** | 2057 | **2193** | 2785 | **2.91** | 2.42 | **4.07** | 4.28 | **0.95** | 1.94 | **2.73** | 2.85 |
| Cerro Vanguardia <sup>(3)(5)</sup> | **179** | 175 | **720** | 755 | **532** | 497 | **1997** | 2020 | **2.92** | 2.62 | **4.55** | 5.05 | **0.53** | 0.48 | **1.72** | 1.67 |
| AngloGold Ashanti Mineração <sup>(2)</sup> | **273** | 271 | **—** |  | **1427** | 663 | **196** | 765 | **—** |  | **5.22** | 6.02 | **5.31** | 5.80 | **5.23** | 5.90 |
| Serra Grande | **53** | 80 | **2** | 142 | **872** | 897 | **—** |  | **1.17** | 1.30 | **1.89** | 2.56 | **—** |  | **1.89** | 2.39 |
| **Managed operations**  | **2788** | 2352 | **36821** | 27407 | **11715** | 9645 | **2383** | 3349 | **1.13** | 1.13 | **3.61** | 3.79 | **0.91** | 1.66 | **1.70** | 1.81 |
| **Non-managed joint ventures** | **303** | 309 | **2437** | 2229 | **1308** | 1598 | **—** |  | **1.37** | 0.99 | **4.65** | 4.63 | **—** |  | **2.52** | 2.51 |
| **Group total including equity-accounted non-**<br>**managed joint ventures** <br>| **3091** | 2661 | **39258** | 29636 | **13023** | 11243 | **2383** | 3349 | **1.14** | 1.12 | **3.72** | 3.91 | **0.91** | 1.66 | **1.76** | 1.87 |
| **Managed operations (excluding Sukari)**<sup>(4)</sup> | **2288** | 2312 | **25801** | 26644 | **10554** | 9552 | **2193** | 2926 | **1.19** | 1.14 | **3.64** | 3.78 | **0.95** | 1.90 | **1.85** | 1.84 |
| **Non-managed joint ventures** | **303** | 309 | **2437** | 2229 | **1308** | 1598 | **—** |  | **1.37** | 0.99 | **4.65** | 4.63 | **—** |  | **2.52** | 2.51 |
| **Group total including equity-accounted non-**<br>**managed joint ventures (excluding Sukari)**<sup>(4)</sup><br>| **2591** | 2621 | **28238** | 28873 | **11862** | 11150 | **2193** | 2926 | **1.21** | 1.13 | **3.75** | 3.90 | **0.95** | 1.90 | **1.91** | 1.90 |
| <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* |
| <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* |
| <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* |
| <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* | <sup>(5)</sup> *Cerro Vanguardia has adjusted the basis of allocation between open-pit, underground and other treated tonnes resulting in an adjustment of treated tonnes and related grades for 2024.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |  |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 66 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **FINANCIAL RESULTS I OPERATIONS AT A GLANCE** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

YEAR 2025 AND 2024

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| OPERATIONS AT A GLANCE | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** | **FOR THE YEAR ENDED 31 DECEMBER 2025 AND 31 DECEMBER 2024** |
| OPERATIONS AT A GLANCE | **Cost of sales** | **Cost of sales** | **Gross profit** | **Gross profit** | **Total cash costs per** <br>**ounce\*** | **Total cash costs per** <br>**ounce\*** | **All-in sustaining costs** <br>**per ounce\*** | **All-in sustaining costs** <br>**per ounce\*** | **Sustaining MRD /** <br>**Stripping capital** | **Sustaining MRD /** <br>**Stripping capital** | **Other sustaining** <br>**capital** | **Other sustaining** <br>**capital** | **Non-sustaining capital\*** | **Non-sustaining capital\*** |
| OPERATIONS AT A GLANCE | **$m** | **$m** | **$m** | **$m** | **$/oz** | **$/oz** | **$/oz** | **$/oz** | **$m** | **$m** | **$m** | **$m** | **$m** | **$m** |
| OPERATIONS AT A GLANCE | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** | **Dec-25** | **Dec-24** |
| **AFRICA Non-managed joint ventures** | **432** | 380 | **608** | 363 | **1148** | 935 | **1317** | 1146 | **20** | 32 | **51** | 36 | **80** | 57 |
| Kibali - Attributable 45% <sup>(1)</sup> | **432** | 380 | **608** | 363 | **1148** | 935 | **1317** | 1146 | **20** | 32 | **51** | 36 | **80** | 57 |
| **AFRICA Managed operations** | **3034** | 1924 | **3088** | 1096 | **1182** | 1212 | **1647** | 1709 | **390** | 333 | **333** | 214 | **261** | 142 |
| Iduapriem | **424** | 351 | **280** | 213 | **1482** | 1118 | **2096** | 1614 | **85** | 85 | **16** | 23 | **72** | 61 |
| Obuasi | **458** | 360 | **485** | 171 | **1325** | 1214 | **2026** | 1942 | **121** | 98 | **53** | 47 | **35** | 57 |
| Siguiri <sup>(3)</sup> | **591** | 518 | **400** | 136 | **1783** | 1703 | **2165** | 2093 | **18** | 28 | **67** | 65 | **17** | 9 |
| Geita | **773** | 612 | **960** | 540 | **1038** | 984 | **1525** | 1418 | **120** | 110 | **98** | 71 | **20** | 15 |
| Sukari <sup>(3)</sup> | **789** | 83 | **962** | 36 | **783** | 1165 | **1094** | 1858 | **46** | 12 | **99** | 8 | **117** |  |
| Administration and other | **(1)** |  | **1** |  | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **AUSTRALIA** | **1009** | 945 | **874** | 453 | **1530** | 1287 | **1825** | 1526 | **50** | 53 | **72** | 49 | **63** | 51 |
| Sunrise Dam | **442** | 430 | **350** | 197 | **1634** | 1343 | **2078** | 1665 | **36** | 36 | **51** | 29 | **—** |  |
| Tropicana - Attributable 70% | **527** | 479 | **564** | 292 | **1330** | 1132 | **1508** | 1297 | **14** | 17 | **21** | 20 | **63** | 51 |
| Administration and other | **40** | 36 | **(40)** | (36) | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **AMERICAS** | **973** | 858 | **915** | 517 | **1195** | 1027 | **1741** | 1514 | **141** | 143 | **79** | 66 | **16** |  |
| Cerro Vanguardia <sup>(3)</sup> | **441** | 368 | **301** | 180 | **1227** | 1073 | **1726** | 1544 | **34** | 38 | **30** | 33 | **—** |  |
| AngloGold Ashanti Mineração <sup>(2)</sup> | **391** | 352 | **573** | 283 | **976** | 876 | **1506** | 1334 | **79** | 78 | **40** | 20 | **16** |  |
| Serra Grande | **139** | 136 | **43** | 56 | **2165** | 1411 | **2951** | 2039 | **28** | 27 | **9** | 13 | **—** |  |
| Administration and other | **2** | 2 | **(2)** | (2) | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  |
| **PROJECTS** | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **3** | 5 | **39** | 33 |
| Colombian projects | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **13** | 13 |
| North American projects | **—** |  | **—** |  | **—** |  | **—** |  | **—** |  | **3** | 5 | **26** | 20 |
| **CORPORATE AND OTHER** | **6** | (1) | **(6)** | 1 | **—** |  | **—** |  | **—** |  | **2** | 1 | **—** |  |
| **Managed operations** | **5022** | 3726 | **4871** | 2067 | **1252** | 1187 | **1751** | 1672 | **581** | 529 | **489** | 335 | **379** | 226 |
| **Non-managed joint ventures** | **432** | 380 | **608** | 363 | **1148** | 935 | **1317** | 1146 | **20** | 32 | **51** | 36 | **80** | 57 |
| **Group total including equity-accounted non-**<br>**managed joint ventures**<br>| **5454** | 4106 | **5479** | 2430 | **1242** | 1157 | **1709** | 1611 | **601** | 561 | **540** | 371 | **459** | 283 |
| **Managed operations (excluding Sukari)**<sup>(4)</sup> | **4233** | 3643 | **3909** | 2031 | **1355** | 1187 | **1895** | 1668 | **535** | 517 | **390** | 327 | **262** | 226 |
| **Non-managed joint ventures** | **432** | 380 | **608** | 363 | **1148** | 935 | **1317** | 1146 | **20** | 32 | **51** | 36 | **80** | 57 |
| **Group total including equity-accounted non-**<br>**managed joint ventures (excluding Sukari)**<sup>(4)</sup><br>| **4665** | 4023 | **4517** | 2394 | **1330** | 1157 | **1829** | 1607 | **555** | 549 | **441** | 363 | **342** | 283 |
| <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* | <sup>(1)</sup> *Equity-accounted joint venture.* |
| <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* | <sup>(2)</sup> *Includes gold concentrate from the Cuiabá mine sold to third parties.* |
| <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* | <sup>(3)</sup> *On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.* |
| <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* | <sup>(4)</sup> *Adjusted to exclude Sukari operation which was acquired on 22 November 2024 as part of the Centamin acquisition.* |
| *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* | *\* Refer to "Non-GAAP disclosure" for definitions and reconciliations.* |
| *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* | *Rounding of figures may result in computational discrepancies.* |

---

---

| | | |
|:---|:---|:---|
| Q4 2025 EARNINGS RELEASE | 67 | ![text.jpg](text.jpg) |

---

---

| | |
|:---|:---|
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
| **ADMINISTRATION AND CORPORATE I INFORMATION** | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |
|  | ![aganewlogocmyk.jpg](aganewlogocmyk.jpg) |

---

---

| | | |
|:---|:---|:---|
| **AngloGold Ashanti plc**<br>Incorporated in England & Wales<br>Registration No. 14654651<br>LEI No. 2138005YDSA7A82RNU96<br>**Share codes:**<br>ISIN: GB00BRXH2664 <br>CUSIP: G0378L100<br>NYSE: AU <br>JSE: ANG<br>A2X: ANG<br>GhSE (Shares): AGA<br>GhSE (GhDS): AAD<br>**JSE Sponsor:** <br>The Standard Bank of South Africa Limited<br>**Auditors:** <br>PricewaterhouseCoopers Inc.<br>PricewaterhouseCoopers LLP<br>**Offices**<br>**Registered and Corporate**<br>Third Floor, Hobhouse Court<br>Suffolk Street<br>London SW1Y 4HH<br>United Kingdom<br>**Global headquarters**<br>6363 S. Fiddlers Green Circle, Suite 1000<br>Greenwood Village, CO 80111<br>United States of America<br>**Telephone:** +1 303 889 0700<br>**Australia**<br>Level 10, AMP Building,<br>140 St George's Terrace <br>Perth, WA 6000<br>(PO Box Z5046, Perth WA 6831)<br>Australia<br>**Telephone:** +61 8 9425 4600<br>**South Africa**<br>112 Oxford Road <br>Houghton Estate, <br>Johannesburg, 2198 <br>(Private Bag X 20, Rosebank, 2196) <br>South Africa <br>**Telephone:** +27 11 637 6000 <br>**Fax:** +27 11 637 6624<br>**Ghana**<br>Gold House<br>Patrice Lumumba Road<br>(PO Box 2665)<br>Accra<br>Ghana<br>**Telephone:** +233 303 773400<br>**Fax:** +233 303 778155<br>| **Directors**<br>**Executive**<br>Alberto Calderon (Chief Executive Officer)<br>Gillian Doran (Chief Financial Officer)<br>**Non-Executive**<br>Jochen Tilk (Chair)<br>Kojo Busia<br>Bruce Cleaver<br>Alan Ferguson<br>Albert Garner <br>Jinhee Magie<br>Nicky Newton-King<br>Marcus Randolph<br>Diana Sands<br>**Company Secretary**<br>Catherine Stead<br>**Company secretarial e-mail**<br>***companysecretary@anglogoldashanti.com***<br>**Investor Relations contacts**<br>**Yatish Chowthee**<br>**Telephone:** +27 11 637 6273<br>**Mobile:** +27 78 364 2080<br>**E-mail: *yrchowthee@aga.gold***<br>**Andrea Maxey**<br>**Telephone:** +61 08 9425 4603<br>**Mobile**: +61 400 072 199<br>**E-mail: *amaxey@aga.gold***<br>**AngloGold Ashanti website**<br>***www.anglogoldashanti.com***<br>| **Share Registrars**<br>**United States**<br>Computershare Trust Company, N.A.<br>150 Royall Street<br>Suite 101<br>Canton, MA 02021<br>United States of America<br>**Telephone US:** 866-644-4127<br>**Telephone non-US:** +1-781-575-2906 <br>**Shareholder Online inquiries:**<br>***https://www-us.computershare.com/Investor/***<br>***#Contact*** <br>**Website: *www.computershare.com/***<br>***AngloGoldAshanti*** <br>**South Africa**<br>*Computershare Investor Services (Pty) Limited* <br>Rosebank Towers, 15 Biermann Avenue<br>Rosebank, 2196<br>(PO Box 61051, Marshalltown 2107) <br>South Africa<br>**Telephone:** 0861 100 950 (in SA)<br>**Fax:** +27 11 688 5218<br>**E-mail: *queries@computershare.co.za*** <br>**Website: *www.computershare.com***<br>**Ghana**<br>*Central Securities Depository (GH) LTD*<br>4th Floor, Cedi House<br>PMB CT 465, Cantonments<br>Accra, Ghana<br>**Telephone:** +233 302 689313<br>**Fax:** +233 302 689315<br>***Ghana depositary***<br>NTHC Limited<br>18 Gamel Abdul Nasser Avenue <br>Ringway Estate <br>Accra, Ghana<br>**Telephone:** +233 302 235814/6<br>**Fax:** +233 302 229975<br>|

---

AngloGold Ashanti posts information that may be important to investors on the main page of its website at

www.anglogoldashanti.com and under the "Investors" tab on the main page. This information is updated

periodically. AngloGold Ashanti intends to use its website as a means of disclosing material non-public

information to the public in a broad, non-exclusionary manner and for complying with its disclosure obligations.

Accordingly, investors should visit this website regularly to obtain important information about AngloGold

Ashanti, in addition to following its press releases, documents it files with, or furnishes to, the United States

Securities and Exchange Commission (SEC) and public conference calls and webcasts. No material on the

AngloGold Ashanti website forms any part of, or is incorporated by reference into, this document. References

herein to the AngloGold Ashanti website shall not be deemed to cause such incorporation.

PUBLISHED BY ANGLOGOLD ASHANTI

**FORWARD-LOOKING I STATEMENTS**

Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations

regarding gold prices, production, total cash costs, all-in sustaining costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of

AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold

Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital

expenditures and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements

regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but

rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as "believe",

"expect", "aim", "anticipate", "intend", "foresee", "forecast", "predict", "project", "estimate", "likely", "may", "might", "could", "should", "would", "seek", "plan", "scheduled", "possible", "continue",

"potential", "outlook", "target" or other similar words, phrases, and expressions; *provided* that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that

describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors

that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied

in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be

given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements

as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating

initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future

litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics, the failure to maintain effective internal control over financial reporting or effective disclosure

controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting,

and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F

for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could

cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors

could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-

looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date

hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold

Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

**Non-GAAP financial measures**

This communication may contain certain "Non-GAAP" financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its business. Non-GAAP

financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in

accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly

caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti plc

Date: 20 February 2026

By:<u>/s/ C STEAD</u>

Name:C Stead

Title:Company Secretary