To ensure long-term resilience against variable rainfall patterns and fluctuating regional availability, AngloGold Ashanti employs a systematic, adaptive approach to water stewardship. We view effective water management not only as an environmental necessity but as a critical component of operational stability.

Our Water Management Standard ensures a consistent framework is applied across the entire mining life cycle. Regardless of whether our operations are located in water-scarce or water-abundant regions, we use comprehensive water balance models to monitor usage and identify catchment-specific risks. This data-driven approach allows us to set tailored objectives for optimising withdrawal and consumption.

Our primary operational goals are compliance and efficiency. Where feasible, we implement closed-loop systems that recycle process water, eliminating the need for environmental discharge. In regions with high rainfall where discharge is required to manage excess runoff, we apply treatment processes to ensure all water leaving our sites maintains appropriate water quality standards and aligns with regional catchment priorities.

Our commitment

We believe that water should be used in a way that is socially equitable, environmentally sustainable and economically beneficial.

As responsible stewards of environmental resources, AngloGold Ashanti is committed to minimising our consumption of water and our impacts on local and regional water resources.

All our operations work to optimise their consumptive water use and achieve their water quality objectives. They do this with the support of a calibrated water balance model and guard against compromising the water supply of local communities and downstream ecosystems.

We recognise that climate change is forecasted to alter rainfall intensity and water availability, hence a systematic and adaptive approach to water stewardship is vital to our business and the communities around us.

Performance in 2025

Enhancing site- and catchment-level water stewardship

Over 2025, our Water Stewardship initiative advanced a portfolio of one-to-two-year projects designed to deliver value-adding water stewardship goals adapted to each mine’s local context. These spanned internal operational efficiency improvements, to enhanced water security and resilience within our host catchments. Oversight by the Water Stewardship Committee ensured projects were tracked rigorously against their agreed schedule and sustainability milestones, reflecting commitment
to ‘inside-the-fence’ engineering excellence and ‘outside-the-fence’ community partnership. The year’s progress demonstrates a maturing approach to water management – spanning enhanced industrial water recycling, application of nature-based solutions and community Water, Sanitation, and Hygiene (WASH) improvements.

In the Australia region, the primary focus remained on increasing water reuse and leveraging data for better decision making. At Sunrise Dam, significant progress was made on the construction of a new Wastewater Treatment Plant (WWTP), which will treat effluent for reuse in the processing plant, thereby reducing potable water withdrawals from Laverton. This was complemented by the rollout of a digital Potable Water Dashboard, which allows for real-time monitoring to drive reduced wastage. Similarly, Tropicana advanced its water efficiency infrastructure by commencing civil construction on a sediment settling pond to enhance underground water reuse, expanded its TSF seepage recovery strategy to explore curtain drain designs for improved management of groundwater mounding adjacent to its TSF, and is working to improve long-term sustainability of its primary water supply aquifers.

Our African operations placed a strong emphasis on community access and regional watershed governance. In Guinea, the Siguiri mine expanded reliable access to clean water by drilling and equipping boreholes across multiple host communities, despite the logistical challenges posed by seasonal flooding. In Ghana, Iduapriem advanced a strategic partnership with the Ghana Water Company to assess the feasibility of using mine pit water as an alternative raw water source for the Tarkwa municipality, while Obuasi continued its work to catalyse the formation of the Pra Basin Board for improved regional water governance. Furthermore, Geita in Tanzania received regulatory approval to trial mechanical evaporation of excess TSF water and continued its in-situ bioremediation project to safeguard downstream groundwater quality.

In the Americas, projects were characterised by environmental restoration and discharge reduction. The Cuiabá complex in Brazil successfully advanced its ‘Calcinados’ project to separate clean water from tailings, while simultaneously executing a landscape restoration initiative that included planting over 40,000 seedlings and providing environmental education to over 8,500 local residents. Meanwhile, Cerro Vanguardia in Argentina reinforced community trust through its participatory water monitoring programme, while implementing water recirculation in diamond drilling that yielded significant reductions in both water and diesel consumption.

This year’s progress moved projects closer to attaining their goal(s) expected by 2026, but by combining technical innovation with stakeholder inclusivity, we have already seen improvements in our operational water metrics and have contributed meaningfully to the health and sustainability of the water catchments we share.

Water performance

Cumulative water withdrawals for 2025 totalled 35,992ML (2024: 26,424ML), 36% higher than the previous year. The inclusion of Sukari into the portfolio accounted for the majority (29%) of this increase, with the balance (7%) spread amongst operations in Latin America and Australia.

Group water withdrawal intensity increased 0.6% to 668L/tonne treated, from 632L/ tonne in 2024. This was ascribed to increased throughput in LATAM operations, including at the restarted Queiroz Process Plant in Brazil and vastly reduced rainfall in Australia (compared to 2024), necessitating increased imports of hyper-saline water.

Recognising that the physical effects of climate change pose substantial risk to our business, ecosystems and communities, we proactively work to mitigate the impacts of climate change by reducing our carbon emissions, finding renewable alternatives to traditional energy and strengthening our operational resilience.

Our commitment

We recognise the substantial and increasing risks climate change poses to the global economy and socio-economic development, and are committed to minimising current and future climate risks.

Our goal is to achieve net zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 2050, with a parallel focus on strengthening climate resilience across our business, value chain, host communities, and operational environments.

Performance in 2025

AngloGold Ashanti is committed to improving how we manage climate-related risks and opportunities to foster and promote business resiliency, accountability and stakeholder value.

We have implemented numerous initiatives to reduce our GHG emissions by installing new technology, reducing power consumption and improving energy efficiency. We have also made certain voluntary commitments, including working towards our GHG emissions reduction targets.

GHG emissions reduction

United Nations agency, the World Meteorological Organization (WMO), verified that 2024 was the hottest year on record. Rising temperatures, changing rainfall patterns, flooding, drought and severe weather conditions believed to be caused or exacerbated by climate change remain growing concerns for businesses, investors, broader society and governments.

This has led to increased pressure on companies, including those in the mining sector, to reduce GHG emissions consistent with national commitments made by numerous countries under the Paris Agreement; to promote responsible corporate practices, including the mitigation of climate-related risks; and to increase transparency about the risks and opportunities of transitioning to a low carbon economy.

Our goal is to achieve net zero Scope 1 and Scope 2 GHG emissions by 2050. Additionally, in partnership with targeted suppliers, AngloGold Ashanti expects to continue to work on Scope 3 GHG emissions accounting and to explore opportunities, where feasible, to address material Scope 3 GHG emissions.

LA | Scope 3 emissions (tCO₂e)

GHG Protocol Category	2025	2024	2023	2022	2021
Purchased Goods and Services	706,748	455,263	495,222	524,369	479,681
Capital Goods	21,455	8,882	13,876	11,981	384
Fuel and Energy Related activities	358,815	277,010	240,425	242,647	260,532
Upstream Transportation and Distribution	52,911	36,552	36,541	36,748	29,493
Waste Generated in Operations	7,971	6,062	5,019	4,220	4,567
Business Travel	30,282	14,454	6,848	5,037	1,453
Employee Commuting	31,361	29,898	25,486	24,681	23,141
Upstream Leased Assets	N/A	N/A	N/A	N/A	N/A
Downstream Transportation and Distribution	344	16,159	24,389	4,934	8,033
Processing of Sold Products	4,300	3,747	4,669	786	689
Use of Sold Products	N/A	N/A	N/A	N/A	N/A
End of Life Treatment of Sold Products	N/A	N/A	N/A	N/A	N/A
Downstream Leased Assets	N/A	N/A	N/A	N/A	N/A
Franchises	N/A	N/A	N/A	N/A	N/A
Investments	71,100	N/A	N/A	N/A	N/A
Estimated Group Total	1,285,288	848,027	852,475	855,403	807,973

Baseline restatement

We announced an interim target to achieve a 30% reduction in its absolute Scope 1 and 2 GHG emissions by 2030, as compared to a 2021 baseline, through a combination of renewable energy projects, fleet electrification, loweremission power sources and alternative fuels.

However, following the acquisition of Centamin in late 2024, and in accordance with Greenhouse Gas (GHG) Protocol, we have adjusted our 2021 decarbonisation baseline to reflect our larger global portfolio. Our original 2021 Scope 1 and 2 baseline of 1.383 million tonnes of GHG emissions equivalent has been restated to 1.861 million tonnes of GHG emissions, incorporating 0.478 million tonnes of GHG emissions attributed to Sukari mine. By maintaining our 2030 reduction percentage targets against this restated baseline, our absolute commitment for 2030 has been adjusted to 1.303 million tonnes of GHG emissions. The Serra Grande operation was included in this 2021 baseline restatement to maintain historical portfolio consistency. The asset was successfully divested in November 2025 and as a result, Serra Grande’s contributions are reflected in our 2025 performance data. A subsequent baseline adjustment will be performed during 2026 to remove Serra Grande’s historical emissions.

This rebaselining ensures that our decarbonisation progress remains measurable and representative of our current operational footprint, reinforcing our accountability as we integrate new assets into our Group-wide net zero pathway. When growth projects are factored in, including those in Nevada and Colombia, AngloGold Ashanti is targeting a 35% reduction in emissions through to 2030. We are working with our sites to evaluate emission reduction opportunities and initiatives. However, many of these potential GHG abatement initiatives are currently in either pre-feasibility or feasibility stage.

In 2025, our absolute Scope 1 and Scope 2 GHG emissions totalled 1.806Mt (2024: 1.473Mt ) with our African operations being our largest contributors. Our performance was impacted by the inclusion of Sukari and by increases in Australia’s diesel-related emissions, caused by production related increases.

This was offset by emission reduction from decarbonisation projects at Geita and Tropicana approaching 94.5kt CO₂e year-on-year. GHG emission intensity was 4.83% lower year-on-year, at 33.50tCO₂e/t of ore treated (2024: 35.2tCO₂e/t of ore treated).

At AngloGold Ashanti, climate change is a Board-level governance issue, overseen primarily by the SES Committee and the Audit and Risk Committee, which oversees assurance. Our Climate Change Strategy, which was approved in 2021, seeks to embed the management of physical, regulatory and transition climate change-related risks, as well as climate change-related opportunities, into the Company’s strategic and operational planning processes.

Low carbon energy alternatives

Increasing global demand for energy, concerns about nuclear power and the limited growth of new supply are impacting the price and supply of energy. Already there have been increased demands and hints of constrained supply which have resulted in sharply escalating oil and energy prices.

AngloGold Ashanti continues to invest in a combination of renewable energy projects and initiatives to use lower emission power sources and improve energy efficiency.

Our first renewable energy project at Tropicana was completed in February 2025. Integrating 61MW of clean energy into Tropicana’s existing diesel-and gas-powered system, the project involved the construction of four 6MW wind turbines, a 24MW solar farm and a 13MW battery storage system. The facility, one of Australia’s largest off-grid hybrid power systems, will significantly reduce Tropicana’s diesel and gas consumption for power generation and is expected to reduce the site’s GHG emissions by an average of 65,000t annually over 10 years.

At Geita, the performance of the grid connection was significantly enhanced in 2025 by the fasttracked commissioning of the Julius Nyerere Hydropower Plant. This infrastructure milestone shifted the national generation mix to 65.35% hydropower (45.2%: 2024), while the thermal component was reduced to 34.24%, of which 92% is derived from lower-emission natural gas. This increased availability of renewable energy contributed an additional 23,000t in elevating the project’s total annual emissions reduction to 72,000t. Critically, this strategic shift is currently displacing approximately 80% of Geita’s diesel consumption for power, demonstrating the immediate impact of aligning our operations with cleaner national infrastructure.

In Brazil, our operations continue to benefit from a net zero power profile through the annual certification of International Renewable Energy Certificates (iRECs), ensuring our grid-sourced electricity remains carbon neutral. To address residual fleet-related emissions, the region successfully piloted a 14t Epiroc Battery Electric Vehicle (BEV) in 2025. This trial confirms a viable electrification pathway for our underground fleet and marks a critical step toward transitioning our Brazilian assets into fully net zero operations. By pairing a carbon-neutral grid with the systematic displacement of diesel-powered machinery, Brazil remains at the forefront of our global decarbonisation strategy.

AngloGold Ashanti’s energy consumption was 27.69 petajoules (2024: 22.45 petajoules or 29.57 petajoules including Sukari), 6.36% lower year-on-year based on the 2024 value with Sukari included and the annual carbon intensity of our total energy mix at 65.22kg/GJ (2024: 65.59kg/ GJ) of CO₂e per GJ of energy consumed, was 0.56% below the figure at the end of last year. This is lower than the gold industry peer group average of 86.46kgCO₂e per GJ of energy, that we track at a one-year stagger (2023: 80.43kg/ GJ).

Operational resilience and community preparedness

With the physical effects of climate change manifesting at a global scale, the frequency of extreme weather events in many of our mining regions is under increased scrutiny. This has helped improve site level awareness of predicted weather related impacts on mining infrastructure, workforce, surrounding ecosystems and host communities.

Climate change risks encompass changes in rainfall rates or patterns resulting in floods or droughts, reduced water availability, higher temperatures and extreme weather events. Such conditions could disrupt mining and transport operations, mineral processing and rehabilitation efforts, as well as increase on site health and safety risks.

Next generation climate model forecasts (three scenarios) for all our operations and major project sites were commissioned. These will be used during 2026 to review our existing climate adaptation plans.

Our operations have implemented site-specific programmes to enhance the resilience of local communities. These programmes cover awareness raising and adaptive business projects. Considerable contributions to strengthening community safety and health resilience have been achieved, including through partnering with international, local governmental, and community agents.

Looking ahead

We are advancing several key initiatives to further scale our global climate response. In Guinea, we have entered advanced contractual stages to progress a 40MW solar PV plant at our Siguiri mine.

Simultaneously, following the acquisition of assets in Egypt, we are exploring a potential 80MW grid connection at Sukari to transition the site toward a lower-carbon energy mix.

Beyond operational energy shifts, we are reviewing the environmental impact of our extensive landholdings in Brazil to understand its carbon potential. These diverse projects underscore our commitment to using both technology-driven and nature-based solutions to meet our long-term climate targets.

Tailings are the residue which remains after extracting minerals and metals from mined ore.

This residue is usually composed of finely milled ore, water and trace quantities of metals and additives used in processing. While some tailings residue may be placed as backfill (that is, returned to the excavated area underground in carefully contained paddocks), most residue is deposited in surface tailings storage facilities (TSFs).

AngloGold Ashanti has developed a comprehensive and holistic approach to tailings management and remains committed to the industry’s transformative improvements in tailings governance, accountability and transparency.

We seek to comply with local and international tailings management standards and best practice, including the GISTM.

Tailings management framework

Our commitment

We are committed to the responsible governance and management of our TSFs throughout their life cycle, from design to closure and post closure.

As a member of the ICMM, we subscribed to and committed to implementing the GISTM at all our TSFs, achieving substantial conformance by, and issuing a Declaration of Conformance in August Our Statement of Commitment to the GISTM may be found on our website. The GISTM complements our own Tailings Management Framework that sets our principles, standards, guidelines and accountabilities for the construction, management, and oversight of TSFs, and our compliance with national standards and legislation.

Performance in 2025

Combining industry best practice and decades of institutional experience, AngloGold Ashanti focuses on the sound management of all phases of the TSF life cycles from planning to closure.

Our tailings management protocol is guided by our Tailings Management Framework and based on a four-layered assurance system aimed at achieving zero harm to people and the environment.

Tailings management protocol

AngloGold Ashanti manages 24 TSFs, 13 of which are active, with the remainder in the process of closure or removal by re-mining. Safe closure has also been achieved for several historical TSFs at our operations.

Our Tailings Management Standard sets the mandatory requirements for the management of TSFs. Adopting a risk-based approach, the standard requires sites to:

• Identify and document the relevant legislative and regulatory requirements and to review applicable TSF compliance requirements annually
• Maintain a life-of-mine tailings storage plan that is updated concurrently with the life of mine production plans
• Develop, implement, and maintain integrated plans, procedures, practices, and assign responsibilities covering the design, approvals, construction, operation, and closure of TSFs
• Define and document the responsibilities of all employees and contractors involved with tailings management and validate that they are authorised and competent to conduct their work effectively
• Collect, monitor and analyse data to assess the stability and integrity of each TSF and update stability analyses annually
• Develop site-specific closure criteria and closure plans for each TSF
• Prepare and document detailed emergency preparedness and response plans for potential TSF failures as well as carry out annual testing of the TSF emergency response plan

The careful management and monitoring of TSFs using a four-tiered assurance system has allowed us to maintain a strong track record in managing an international portfolio of different types of TSFs. Importantly, TSF management is overseen by the Board via the SES Committee and Executive Committee.

Meeting global industry standards

AngloGold Ashanti supports and is committed to achieving full conformance with of the GISTM, the global benchmark for achieving strong social, environmental and technical outcomes by elevating accountability to the highest organisational levels.

With the ultimate goal of zero harm to people and the environment, the standard strengthens tailings facility life cycle practices — from site selection, design and construction, through management and monitoring, to closure and post-closure — adding requirements for independent oversight, transparency and public disclosure.

We have made significant progress toward full conformance to the GISTM’s principles and are able to report substantial conformance as indicated in the table below.

GISTM conformance

The GISTM complements our own Tailings Management Framework that sets our principles, standards, guidelines and accountabilities for the construction, management, and oversight of TSFs, and our compliance with national standards and legislation.

Since the GISTM was finalised in 2020, we have developed a conformance protocol to meet the standard’s 77 requirements. These conformance efforts have strengthened our internal tailings governance structures and systems.

We have appointed External Engineers of Record and Independent Tailings Review Boards at all our operations, embraced new technologies and processes and undertaken additional precautionary measures to reduce risk and meet regulatory and other requirements.

Detailed information relating to each of our tailings facilities and progress summaries for each of our TSFs are published on our website.

New and planned facilities

The Ghana Minerals Commissions granted approval for the Obuasi mine to commence construction of its new Dokyiwa Flotation Tailings Storage Facility. The Ghana EPA also renewed the environmental permits for the Obuasi Redevelopment Project, BIOX TSF and water infrastructure projects.

The EPA is conducting a year-long study at Binsere to assess the extent of environmental and health impacts of the BIOX TSF on the community. Expected to conclude during 2026, the EPA has already determined that community members living within 100m of the facility are too close and directed that they be relocated for their safety.

Obuasi will develop a resettlement plan for residents within the 100m buffer zone and, in collaboration with community leaders and the Municipal Assembly, will enforce a ‘No Development’ area within the 100m buffer zone. Drone footage of the area will highlight community assets within the buffer zone and serve as a reference for determining compensation.

Following the Tanzanian Ministry of Water’s concern about evaporator trials for managing excess process water from the Geita TSF, a multi-disciplinary workshop involving the National Environmental Management Council, the Ministry of Water and the Tanzania Meteorological Authority was convened. This led to in-principle approval for a six-month trial, subject to the formality of a justification note seeking approval from the Chief Inspector of Mines. On conclusion of the trial, Geita will submit a technical report detailing the key findings and the system’s performance. If proceeding with a permanent installation, the mine would have to undertake a full EIA.

Designs are in progress for a new TSF at Siguiri. This will allow the transition and closure of the existing TSF. Work on this is expected to be executed over the 2026—2028 period.

Looking ahead

Focus areas for 2026 include (but are not limited to):

• The remediation and closure of TSF 1 at Siguiri, with the design and construction of a new TSF 2
• The transition from the STSF at Obuasi to the new DTSF, allowing the STSF to enter operational closure
• Projects to advance the removal and closure of Kokoteasua and Pompora Tailings facilities at Obuasi
• Continued progress towards achieving full conformance with the GISTM

We minimise the impact of our activities through a rigorous governance framework that applies consistent standards to current operations, major expansions, and new projects. Our Sustainability Policy and associated standards mandate a systematic approach to managing environmental risks — including threats to natural resources — while prioritising the proactive reduction of closure liabilities.

We translate these high-level ambitions into action through site-level Environmental Management Systems (EMS) certified to ISO 14001: 2015. Central to our approach is the recognition that every mine operates in a unique setting; our systems are designed to adapt to diverse geological, climatic, and regulatory environments while maintaining strict compliance. Senior operational managers hold accountability for performance, supported by standardised software tools and our internal enterprise risk platform, AuRisk, which provides timely visibility of risk exposure from the site to the enterprise level.

Our focus on environmental performance begins at the design stage. Capital projects incorporate environmental requirements into the earliest development phases to ensure regulatory and internal compliance. To maintain the integrity of this framework, we conduct regular assurance via rotational audits and project stage-gate
reviews.

Through our engagement with the CMSI Industry Advisory Group, we are positioned to evolve our internal standards in line with this emerging unified global standard, ensuring our environmental governance remains robust and current.

Our commitment

We prioritise the avoidance, minimisation and mitigation of our environmental impacts. Our operations proactively manage risks to air, land, biodiversity and water resources across the full mining life cycle, ensuring responsible closure.

We are committed to compliance with host country regulatory obligations and maintaining certification of our environment management systems to the ISO 14001 environmental management standard and with the ICMC. We implement measures to conform with voluntary environment commitments outlined in ICMM’s Position Statements, Performance Expectations and the World Gold Council’s Mining Principles.

Performance in 2025

Environmental incidents

We recorded three reportable environmental incidents during the year (2024: one). These occurred at Iduapriem, Siguiri and Obuasi mines respectively. Details of each are outlined in the 2025 ESG Databook. Eleven moderate severity incidents were logged in 2025, compared to eight in 2024. Minor severity incidents equalled 2024, with 223 events being reported.

Reportable incidents are defined by our incident classification and reporting standard, which sets out how we identify, respond to, and communicate events that impact negatively on the environment or communities.

Strengthening environmental governance and systems

In April 2025, we convened a global technical workshop to align our strategic approach to governance and digital systems. Informed by a comprehensive internal survey, we prioritised the harmonisation of key business processes to maximise the efficiency of existing and new global software platforms. Specific priorities include aligning functional risk management to streamline material sustainability risks into our enterprise risk system (AuRisk), enhancing regulatory compliance transparency, and simplifying environmental incident logging, classification and action management.

We also advanced critical operational themes, defining a roadmap to evolve our Group Standards and Assurance processes to ensure they remain fit for purpose. Key additional technical outcomes included the integration of ‘No Net Loss’ biodiversity principles into mine planning and the advancement of sustainable post-closure water strategies. To sustain these efforts, we proposed essential updates to our ‘Health of Discipline’ framework to guide technical capability development, ensuring we maintain the necessary skills to navigate an increasingly complex global regulatory landscape.

These initiatives are being sequenced over a two-to- three-year horizon. Execution commenced in 2025 with the successful global launch of the new web-based Environmental Management Applications (EMA) suite, comprising the Environmental Incident Manager and Action Manager. Further EMA tools that will be developed for rollout during 2026, include the Compliance, Audit, and Inspection modules, each underpinned by the globally harmonised business processes established this year.

Environmental permitting and compliance

We maintain a robust approach to environmental permitting, ensuring all projects align with evolving regulatory frameworks and stakeholder expectations. A primary focus has been the North Bullfrog project in Nevada, where we have advanced critical technical work to ensure a legally sound Environmental Impact Statement (EIS) is completed for the project. We achieved a significant milestone in November 2025 with the formal acceptance of the Groundwater Flow Model for use in the NEPA process, following extensive agency engagement. In parallel, the Administrative Draft EIS was submitted for review in October. The target completion date for the Record of Decision (ROD) is December 2026.

In Colombia, the Quebradona and La Colosa projects navigated a complex regulatory environment throughout 2025. At Quebradona, evolving land-use designations — specifically regarding agricultural protection and environmental reserves — have temporarily paused our ability to advance key permitting activities. At La Colosa, while our request to formally suspend contractual obligations (force majeure) was declined by the National Mining Agency in October, we remain committed to engaging with the relevant authorities to clarify these overlapping requirements and define a constructive path forward. Encouragingly, the Quebradona project retains a strong social foundation at the local level. Community engagement remains robust, with continued high participation in our social investment and skills training programmes. We also value the ongoing advocacy from regional leadership in Antioquia, who continue to highlight the project’s potential contribution to local economic development. This enduring alignment between our project goals and regional priorities provides a resilient basis for Quebradona’s future once the current regulatory landscape stabilises.

In Ghana, we continued to advance critical environmental infrastructure through a mature and co-operative regulatory framework. Following approval from the Minerals Commission, construction commenced on the new Dokyiwa Flotation Tailings Storage Facility (DTSF) at Obuasi, accompanied by proactive fauna relocation partnerships with the Wildlife Division and accelerated buffer zone planting to mitigate community impacts. Significantly, after years of exhaustive engagement and technical testing, the Environmental Protection Agency (EPA) granted the permit for the Arsenic Trioxide Treatment and Permanent Disposal Project. This milestone approval resolves a decades-long legacy challenge, enabling the safe, permanent disposal of historical stockpiles and once complete will close a key chapter in our legacy management commitments. The EPA further signalled confidence in our operational stewardship by renewing permits for the broader Obuasi Redevelopment Project and associated water infrastructure.

In Western Australia, our team successfully navigated a constrained administrative environment to secure essential operational approvals. Despite industry-wide processing delays attributed to regulatory resourcing constraints, proactive engagement with state regulators unlocked pending approvals for key capital projects at Sunrise Dam and Tropicana. These included the Sunrise Dam Wastewater Treatment Plant and critical upgrades at Tropicana, such as the Paste Fill Plant, Gas Power Station expansion, and a Groundwater Licence amendment to enhance tailings seepage recovery. Looking ahead, we are adapting to the Department of Energy, Mines, Industry Regulation and Safety’s new approval framework introduced in September. While this transition may influence timelines for upcoming initiatives like Sunrise Dam’s Pink Lady project, our active engagement aims to minimise disruption during this implementation phase.

Committed to nature-positive outcomes

AngloGold Ashanti, along with other ICMM member companies, voluntarily committed to an updated Nature Position Statement in 2024, which contains five overarching objectives that support a nature positive future by 2030.

In response, we undertook a comprehensive Group-wide Nature Screening Assessment in Focused exclusively on our active mining operations, this study excluded early-stage development projects where surface disturbance remains immaterial. We employed a two-phased methodology aligned with the Taskforce on Nature-related Financial Disclosures (TNFD) LEAP approach:

• Phase A (Desktop Screening): We used global biodiversity datasets, including the Integrated Biodiversity Assessment Tool (IBAT), Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE), and the World Wildlife Fund (WWF) Biodiversity Risk Filter, to identify potential nature-related dependencies and sensitivities across the portfolio
• Phase B (Site Validation): We conducted on-site engagements to ground-truth these desktop findings against local ecological realities

This validation phase proved critical, revealing that global mapping tools — while valuable for high-level screening — can sometimes misrepresent biodiversity value in understudied or dryland environments. For example, at Tropicana, site-specific verification confirmed the presence of species new to science or with distribution ranges not yet captured in global datasets, highlighting risks that a purely desktop exercise would have missed.

Our on-site validation also highlighted the complex challenge of managing biodiversity within shared, socio-economically active landscapes, particularly across our African operations. In Ghana and Tanzania, external pressures including rapid urbanisation, agricultural expansion, ASM and illegal mining have, and continue to, actively alter ecosystem integrity outside our operational footprints.

Furthermore, our ability to secure long-term conservation outcomes is influenced by regional land tenure systems. In these jurisdictions, where we operate under time-bound mining leases rather than holding freehold title, we cannot unilaterally set aside land for permanent conservation. Consequently, our strategy for achieving ‘No Net Loss’ in these settings will require us to seek collaboration with government agencies, conservation partners and/or our peers, to support protected areas while promoting alternative livelihoods that reduce community dependency on natural resources.

Based on this hybrid assessment of ecosystem integrity, protected area proximity, and physical water risks, we have confirmed the following operations as priority locations requiring focused management strategies:

• Brazil: AGA Mineração
• Ghana: Iduapriem and Obuasi
• Tanzania: Geita

The strategic value of this assessment extends beyond these priority assets. We are using the findings to inform a consolidated ‘Nature Strategy Roadmap’ that will standardise our approach to Critical Habitat, Residual Impact Assessments and an AngloGold Ashanti Metrics Framework. This provides a blueprint for defining credible pathways to ‘No Net Loss’ by mine closure at our non-priority sites as well, ensuring a consistent, nature-positive standard across our entire operating portfolio.

In parallel, mine-wide biodiversity status study undertaken at Obuasi reported an ~31% net gain in medium to large mammal diversity over a 10- year period, an ~5% net loss in avifauna diversity and an ~21% net gain observed in amphibian diversity. The report findings will be used to update mine-level biodiversity management, closure and rehabilitation plans.

At our Nevada projects, we are exploring development of a Conservation Bank strategy to support nature-positive outcomes in the Beatty District. This proposed concept aims to restore currently degraded habitats for sensitive species — such as the Amargosa Toad — potentially establishing a credit-based system to offset AGA’s potential future operational impacts. Following positive initial workshops with federal and state agencies in late 2025, we have moved into the development phase and plan to continue with regulatory and community engagements.

At Tropicana, our environmental teams are finding ways to balance the benefits of the new renewable energy infrastructure with downside of an increased risk of bird and bat interactions with the new wind turbines. Monitoring frequencies of bird and bat interactions have been increased, with the goal of informing development of a robust, comprehensive, and evidence-based management strategy.

Looking ahead

• Progress Phase 2 of the Environmental Management Applications (EMA) including Compliance, Audit and Inspection modules
• Align AGA’s Environmental Standards with the (final) Consolidated Mining Standard to facilitate implementation
• Simplify the Group Environmental Assurance Programme, for enhanced focus on material environmental risk
• Advance key recommendations from the 2025 Nature Screening Assessment