This webpage does not purport to be a complete summary of the underlying 2025 Sustainability Report and should be read in conjunction therewith, including the qualifications and limitations described therein, as there may be information in the underlying 2025 Sustainability Report that may be important.

2025 Sustainability Report (pdf)
ESG Data Workbook (xlsx)
Management Criteria and Reporting Definitions (pdf)

2025 at a glance

Working to strengthen our
social licence to operate

Our sustainability commitments matter. They protect the environment, support communities, reduce risk, and ensure the company remains viable and competitive in a world where responsible mining is non‑negotiable.

Creating value

Revenue

$9.9bn

(2024: $5.8bn)

Gold production

3.09Moz

(2024: 2.66Moz)

Gold Mineral Reserve

36.5Moz

(2024: 31.2Moz)

Empowering people

People employed

38,243▴

employees and contractors on average

(2024: 36,496)▴

Total recordable injury frequency rate (TRIFR)

0.97

(2024: 0.98)

Training and development expenditure

$8.62m

(2024: $7.99m)◊

Salaries, wages and benefits paid to employees

$1,028m

(2024: $796m)

Empowering communities

Community investment

$27.25m

(2024: $20.56m)◊

Expenditure with local suppliers

$5.05bn

(92%)

(2024: $4.26bn (92%))◊

Grievances resolved

96%

(2024: 93%)◊

Caring for the environment

Reportable environmental incidents

3

(2024: 1)◊

Cumulative amount of land rehabilitated

4,231ha

(2024: 4,271ha)

Renewable energy supply

7.8%

(2024: 6.6%)

Scope 1 and Scope 2 greenhouse gas (GHG) emissions

1.806Mt

(2024: 1.473Mt)◊

Ensuring best practice governance

Employees that completed ethics training*

9,582*

(2024: 5,697)◊

Payments to government ∧

$2.62bn

(2024: $1.03bn)◊

Security personnel trained on human rights policies

99.98%

(2024: 100%)◊

◊ Excludes Centamin

▲ Excludes Kibali

* Excludes contractors

∧ Refer to ESG Data Workbook for breakdown

Leadership

Determining materiality

We have identified 17 material sustainability issues that are most significant to the business. While the framing of the issues have changed year-on-year, we do not believe that there have been significant additions or exclusions.

We are cognisant that material sustainability issues change over time (dynamic materiality), and we will continue to monitor the broader range of issues, including emerging issues.

While we have grouped the sustainability issues identified into related environment, social, governance and economic topics, we recognise that these issues are deeply interrelated and inter-dependent and should be considered and managed accordingly.

The Company’s double materiality assessment is integrated into the Enterprise Risk Management (ERM) framework ensuring the Company considers a comprehensive view of risks and opportunities that may affect not only its financial outcomes but also its broader societal and environmental responsibilities.

Explore assessment outcomes

Our 2025 materiality assessment included detailed interviews with key internal and external stakeholders, and considered new and emerging disclosure regulations including GRI and SASB. Extractives and mineral processing are among the first industries scheduled for updated SASB-aligned guidance, with new emphasis expected in areas such as biodiversity, water use, tailings, land disturbance, workforce conditions, closure planning and community impacts. These developments informed our framing of material sustainability issues this year, ensuring that our prioritisation reflects future regulatory direction rather than only historical expectations.

Our approach encompasses double materiality

Impact materiality

Whether a matter is material from an impact perspective, that is, whether AngloGold Ashanti’s activities have a material actual or potential impact, positive or negative, on people, society and/or the environment over the short, medium or long term.

Financial materiality

Whether a matter is material from a financial perspective and whether it triggers potential or actual financial effects on AngloGold Ashanti, that is, whether it leads to risks or opportunities that influence or could influence future cash flows and the enterprise value of the Company in the short, medium or long term.

Phase 1

Context

Initial benchmarking involved a thorough review of global standards and voluntary compacts to which we subscribe and align with, peer practices and feedback from ratings agencies, as well as prior year assessments.This benchmarking ensured that the issues considered are relevant, comprehensive and reflect both industry best practice and stakeholder expectations. We then arrived at a comprehensive long list of sustainability topics relevant to AngloGold Ashanti’s footprint and industry context, which we carefully refined to identify 33 issues that are relevant to our industry and sector.

Phase 2

Discovery of impact

We held structured interviews with internal and external stakeholders/leaders to understand:

  • Strategic priorities
  • Operational challenges and dependencies
  • Regional sustainability expectations
  • Emerging risks and opportunities

This process resulted in a refined list of 21 material sustainability issues, including new issues, strengthened definitions, and determining how issues influence our ability to create, sustain, or potentially erode social, environmental, and economic value from both an impact and financial materiality perspective.

Phase 3

Ranking

Finally, members of executive and senior management were asked to rank issues from the perspective of both impact and financial materiality, based on our definitions (alongside). Respondents were also asked to indicate the time horizon –short, medium and long term – associated with impacts and, for financial materiality, whether the issue was primarily a risk or an opportunity.

These issues were then reviewed by the internal sustainability team. The ranking was adjusted to reflect broader industry sustainability issues and issues raised by stakeholders. These results were analysed and combined with internal insights to determine the 17 material sustainability issues for 2025.

Our commitments

Understanding what matters most to society, the environment, investors and the business itself, is central to how AngloGold Ashanti creates and protects long-term value.

Performance against targets

Creating 
value

Empowering people

Empowering communities

Caring for the environment

Ensuring best practice governance

Case studies

Assurance

We subscribe to a number of external principles, charters and standards that rank our ESG and reporting performance, according to their own methodologies.

As a member of the International Council on Mining & Metals (ICMM), AngloGold Ashanti plc is committed to obtaining independent external assurance over its conformance with the ICMM Mining Principles, including specified disclosures presented in its 2025 Sustainability Report

Assurance statement (pdf)
Content Index (pdf)

Report suite 2025 / Sustainability Report / Commitments / Empowering people / Attracting, developing and retaining talent

Attracting, developing and retaining talent

Employee relations at AngloGold Ashanti is founded on a relationship-based model that seeks to foster positive relationships with employees and their union representatives, aligned to our values and focused on interest-based collective bargaining.

AGA Mineração, Cuiabá, Brazil

Our commitment

We remain committed to implementing best-practice talent procurement and management initiatives, and to enhance and develop the capabilities of our employees.

We attract and retain talent through our compelling people value proposition.

Central to employee relations at AngloGold Ashanti is a relationship-based model that commits to fostering positive relationships with employees and their union representatives, aligning with our values and a dedication to embedding interest-based collective bargaining.

Strategic focus areas:

  • Continue to prioritise the proactive identification of critical talent to ensure sustained organisational capability
  • Launch and roll out the leadership capability development strategy
  • Implement high-impact Individual Development Plans (IDPs) that are purposeful, personalised, and development-driven
  • Support mining operations to implement discipline health assessments and development

Performance in 2025

Enhancing talent management and succession planning

AngloGold Ashanti continues to advance talent management and succession planning, building on the structured, best-practice approach introduced in 2022. Our succession planning discipline has matured year-on-year, supported by improved data quality, more practical plans and stronger ability to translate insights into decisive development and deployment actions. Leadership capability has progressed in parallel, with leaders engaging in more rigorous, outcomes-driven talent discussions and demonstrating increased accountability for building sustainable pipelines.

Over the past four years, succession pipelines have become stronger and more realistic, with clear visibility of strengths, gaps and readiness horizons. In 2025, talent assessments were refreshed to improve accuracy and comparability, strengthening our forward-looking pipeline. We also improved visibility of emerging talent at feeder levels, enabling earlier identification of future successors and more deliberate long-term pipeline building.

This maturity has supported the timely deployment of senior talent into critical roles, underpinning business continuity and leadership stability. Proactive external market mapping complements internal succession by providing market insight and credible contingency options, while supporting targeted hiring where internal gaps persist.

Succession health for Stratum IV (VP/GM level) and above remains robust, supported by solid bench strength. Where “ready now” gaps exist, these largely reflect purposeful deployment into critical roles — evidence that the pipeline is being actively used to deliver business continuity. Nearterm readiness is being addressed through accelerated, on-the-job development and planned mobility for identified successors, complemented by selective external hiring and market mapping to ensure continuity and strengthen optionality.

The priority remains to accelerate readiness while rebuilding depth at feeder levels to sustain an uninterrupted leadership pipeline.

Gender representation has improved steadily over recent cycles, providing a stronger platform to advance women into senior leadership roles. While representation remains less consistent across technical and operational disciplines, this is a clearly defined priority area to deepen mining successor pipelines and future pipelines.

The OneHR system continues to enable centralised succession data, improved analytics and more informed leadership conversations. In 2026, development will be emphasised — ensuring disciplined execution of priority development actions, targeted deployment to accelerate readiness, and selective external hiring when required so the organisation maintains a healthy, diverse and future-ready leadership pipeline.

Talent actions progress

Following the 2024 Succession Planning and Talent Review, key actions were progressed and further refined based on insights from the 2025 talent review. The focus was on translating talent insights into tangible development actions, targeted deployment and active risk mitigation. This was supported by proactive external market mapping to expand talent optionality and strengthen succession contingency where required.

Key areas of progress include:

  • Talent deployment and succession execution: A meaningful portion of senior appointments in 2025 were filled through internal moves arising from our succession and movement plans, demonstrating stronger internal mobility and effective use of succession planning to support business continuity. A robust succession and deployment approach also reduces time-to-appoint in critical roles, directly mitigating operational and leadership risk by enabling faster, more confident decisions when vacancies arise. Accelerating successor readiness through deliberate movement and deployment remains a priority, while rebuilding depth at feeder levels to sustain long-term pipeline health.
  • Retention risk and retirement planning: Retention health improved modestly over time, supported by targeted measures for critical roles and high-risk talent. Looking ahead, increased emphasis will be placed on non-monetary levers, particularly for younger talent where progression, exposure and clear career pathways are key drivers of retention. Retirement exposure is receiving proactive attention, with leaders supported to define and implement mitigation actions early to ensure continuity and minimise disruption.
  • Targeted external recruitment and market mapping: Internal talent remains the clear priority, particularly for roles where organisational context, continuity and operational credibility are essential. External market mapping is a well-established process that improves hiring readiness, strengthens contingency options and provides objective market benchmarking. It can also significantly reduce time-to-hire by enabling faster responses when vacancies arise. Importantly, mapping is increasingly being used not only to identify talent but to nurture future talent through ongoing connection and engagement, keeping external pipelines warm and deployable. Where internal gaps persist, most notably in scarce mining skills, selective hiring and targeted mapping are used to improve near-term coverage.
  • Development actions and development planning maturity: The number of successors with development plans increased, reflecting improving rigour and follow-through. The emphasis is now firmly on execution — driving high-quality, role-relevant development actions that close readiness gaps through on-the-job experiences (lateral, stretch and upward moves), aligned to mobility preferences and readiness horizons. Development execution is receiving a strong focus to bring it to the same standard and discipline as succession planning, moving from good practice to consistently high-impact outcomes.
  • Gender representation and sponsorship: Female representation in succession pools has improved steadily over several cycles, strengthening leadership pipeline depth and readiness for senior roles. While technical and operational experience remain the key constraint, this is being addressed through targeted development and selective recruitment. The Elevate Sponsorship Programme was launched to support high-potential talent with the first cohort onboarded and sponsorship relationships established or in progress to enhance exposure, advocacy and readiness for critical roles.

Key talent actions for the next phase

Succession plans are healthy and the organisation is well-positioned. However, continuous improvement remains essential. A small number of targeted actions have been identified to further reduce continuity risk and maintain an uninterrupted, market-ready pipeline aligned to the business strategy:

  • Accelerate readiness through high-quality development execution — ensuring Stratum IV+ successors have actionable, role-relevant development actions aligned to readiness horizons, career aspirations and mobility, with disciplined follow-through
  • Rebuild feeder pipelines through internships and graduate programmes — expanding entry-level intake to strengthen the long-term pipeline into Stratum II and Stratum III, with particular emphasis on operations and mining
  • Strengthen in-house/on-the-job capability building for scarce skills — partnering with operations to create practical, work-based pathways that build critical mining capability and operational depth
  • Expand targeted exposure for key successors into mining leadership roles — increase structured exposure through stretch assignments, acting opportunities and targeted rotations to build end-to-end operational leadership capability and accelerate readiness
  • Continue proactive market mapping and selective recruitment — maintaining external optionality and selectively hiring to replenish critical operational benches, alongside focused mapping for selected senior roles where near-term depth is constrained

Leadership

AngloGold Ashanti’s Leadership Framework defines what effective leadership means across the organisation and is anchored in our Leadership Philosophy. The framework is currently under review by the senior leadership team to ensure it remains relevant, aligned to our strategic priorities and fit for the future. It articulates clear behavioural expectations from both a people leadership and a business leadership perspective, outlining how our leaders are expected to demonstrate these behaviours across the different leadership levels. The Leadership Framework is scheduled for launch in 2026.

In support of leadership capability building, we have rolled out a Coaching Framework that provides a consistent, value-adding and sustainable approach to coaching at AngloGold Ashanti. The framework targets our top talent at manager level and above and is designed to accelerate development, enhance readiness for progression into leadership roles, support successful leadership transitions, and address limiting behaviours.

As part of our Leadership Development Strategy, we have also implemented the Team Effectiveness Programme. This programme supports leaders through a structured approach to team alignment, communication, collaboration and performance, enabling teams to deliver results consistently and sustainably.

Training and development

We continue to utilise SAP SuccessFactors as our Learning Management System (LMS) to enable employee development and support building our current and future skills pipeline. The platform leverages emerging technologies, including artificial intelligence (AI), to promote a strong learning culture across the organisation. Our LMS is powered by Skillsoft, a global learning content provider that gives access to more than 30,000 learning resources across multiple modalities. This enables flexible, “anywhere learning” and delivers a personalised learning experience through AI-driven recommendations, supporting both personal and professional development.

During the year, we started developing global learning catalogues and curricula for all leadership and development programmes. This includes the integration of classroom-based training into the LMS, improving ease of scheduling, participation tracking and reporting.

In 2025, we also initiated a review of our Discipline Health Frameworks to strengthen technical and functional capabilities across all disciplines. The mining discipline has been prioritised, with a focus on building critical capability and a sustainable talent pipeline. Development interventions will be rolled out in 2026 with full integration into OneHR, after which the approach will be extended to other disciplines, including health and safety, human resources, finance and additional technical functions across the organisation.

Labour relations and collective bargaining

AngloGold Ashanti continues to augment the employee relations landscape while focusing on building constructive relations with employees and organised labour. These relationships are based on open, timely engagement, collaboration, and mutual respect. Several channels for employees to have a voice are maintained to build the employee/employer relationship which is critical to the business. This is further enhanced through the Company culture and values.

Our amended Global Employee Relations Standard was approved and launched in 2025. This standard governs employee and labour relations and enables an effective mechanism for communication and participation for our employees. The employee and labour relations environment remained stable in 2025 with the main risks across the business being demands for higher than inflation increases in some jurisdictions.

At AngloGold Ashanti, we continuously endeavour to build and maintain constructive and productive relations with our employees and their union representatives, which are underpinned by our Company values.

There are no collective bargaining agreements in place for employees in Australia, Colombia, Egypt or the United States. However, the Company ensures that we have appropriate relations with our employees in these countries through compliance with labour legislation, fair Company policies and procedures, and promoting healthy relationships through effective line management practices. The Company does not seek to restrict the right to freedom of association or collective bargaining at any of our operations.

All employees in the Australian Region (including all employees in global teams employed through the Australian BU) are engaged on individual common law contracts. Union membership among private sector employees in 2025 remains low in Australia.

Wage negotiations and conditions of service review were concluded successfully at all sites in Ghana and Guinea and were within the official inflation ranges. For the 2025 year, the Company came under pressure for higher than inflation increase demands driven by higher expectations from unions on the back of significant increases in the gold price. In Ghana this was further exacerbated by the strengthening of the Ghana cedi against the US dollar, which reduced employees basic earnings by up to 35%. The Company compensated for this through the payment of ex gratia lump sums to employees in the bargaining unit at both Iduapriem and Obuasi. The annual collective bargaining and wage negotiations in Tanzania was severely delayed due to the post-election unrest in Tanzania. The union in Tanzania has similar expectations for higher than inflation increases on the back of the increased gold price and profitability of Geita compared to the 2024 year. Negotiations are progressing peacefully and we are targeting a final wage deal by Q2 2026.

Retention and development of critical skills, such as underground operator skills, remains a priority and in 2025 efforts were intensified to strengthen the supply and pipeline of critical operator skills. The Africa BU participated in total remuneration surveys to meet the benchmark at competing markets in Ghana and Tanzania. Overall, the wage negotiations took into consideration the various inflationary and labour market demands of unions.

There were no labour-related incidents that disrupted any of our operations in 2025.

Full-time employees receive a number of benefits. These include retirement, accommodation for select employees, production and safety related bonus schemes, and reasonable and fair conditions of services in addition to resultant benefits emanating from collective bargaining.

The minimum notice period regarding operational changes varies from country to country. Please see the 2025 Data Workbook for country notice periods.

Looking ahead

  • Accelerate talent readiness through robust development execution
  • Rebuild our early career talent pipelines through internships and graduate programmes
  • Strengthen in-house on-the-job capability building for scarce skills in partnership with operations
  • Continue proactive market mapping and targeted recruitment to replenish critical operational benches and senior roles where near-term depth is limited

Related SDGs

SDG 3

Good health and well-being

SDG 5

Gender equality

SDG 8

Decent work and economic growth

Material sustainability issues

  • Effectively managing human capital, including succession planning and retaining and attracting of skill

For more information on principal risks see the 2025 Annual Report

Principal risks

  • Inability to attract and retain required skills and resources
  • Failure to maintain sufficient resilience to external financial drivers

Disclosure against standards

  • SASB EM-MM-310a.1: Percentage of active workforce employed under collective agreements
  • SASB EM-MM-310a.2: (1) Number and (2) duration of strikes and lockouts
  • SASB EM-MM-00.B: Total number of employees, percentage contractors
  • GRI 2-30: Collective bargaining agreements
  • GRI 401-1: New employee hires and employee turnover
  • GRI 401-2: Benefits provided to full-time employees that are not provided to temporary or part-time employees
  • GRI 402-1: Minimum notice periods regarding operational changes
  • GRI 404-1: Average hours of training per year per employee
  • GRI 404-2: Programs for upgrading employee skills and transition assistance programs
  • GRI 404-3: Percentage of employees receiving regular performance and career development reviews
  • GRI 14.17: Employment practices
  • ICMM SERF Indicator 5: Workforce development: Training provided
  • ICMM Responsible Mining Principle 3.5: Human rights: Equitably remunerate employees with wages that equal or exceed legal requirements or represents competitive wage within that job market and assign regular and overtime working hours within legally required limits.
  • WGC Responsible Gold Mining Principle 6: Labour rights: We will ensure that our operations are places where employees and contractors are treated with respect and are free from discrimination or abusive labour practices.

What we measure

RA | Total number of employees and contractors

38,243▴

(15,367▴ employees and 22,876 contractors)

(2024: 36,496)▴
(Employees: 15,167▴; Contractors: 21,329▴)
▲ Excludes Kibali

Average number of hours spent on training*

8.49

(2024: 24.69)

* The 2024 training hours per employee were restated to exclude subcontractors at Siguiri and align the metric with the 2025 methodology, following implementation of a new training reporting system that tracks employees only

RA | Training and development expenditure

$8.62m

(2024: $7.99m)

RA | Employees participating in collective bargaining agreements

91%

(2024: 83%)

New employee hires

2,041

(2024: 2,098)

Voluntary turnover rate

1%

(2024: 9%)

RA | Days lost due to industrial action

0

(2024: 4)

RA | Employees covered by collective bargaining agreements
Argentina91 %
Brazil99 %
Ghana86 %
Guinea94 %
Tanzania85 %

AGA Mineração, Córrego do Sítio, Brazil

Disclaimer

This webpage does not purport to be a complete summary of the applicable underlying report and is qualified in its entirety by reference to the applicable underlying report. This webpage should be read in conjunction with the applicable underlying report, including the qualifications and limitations described therein, as there may be information in the applicable underlying report that may be important.

All Mineral Resource and Mineral Reserve information should be read in conjunction with Item 4D. Mineral Resource and Mineral Reserve in AngloGold Ashanti’s annual report on Form-20F for the fiscal year ended 31 December 2025, as filed with the U.S. Securities and Exchange Commission, as well as AngloGold Ashanti’s 2025 Mineral Resource and Mineral Reserve Report.

Forward-looking statements

Certain statements contained in this webpage, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, mine life, total cash costs, all-in sustaining costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects, preliminary financial and production metrics for in-process projects, the ability to convert Mineral Resource into Mineral Reserve and replace Mineral Reserves net of depletion from production 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 the Company’s annual report on Form 20-F for the financial year ended 31 December 2025, filed with the U.S. Securities Exchange Commission. 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 of publication 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 document may contain certain “Non-GAAP” financial measures, including, without limitation, “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”, “non-sustaining capital expenditure”, “Adjusted EBITDA”, “Adjusted net debt (cash)”, “operating cash flow” and “free cash flow”. 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. Reconciliations from IFRS to the Non-GAAP financial measures used in this document can be found either in this document, or in AngloGold Ashanti’s Earnings Release for the three months and the year ended 31 December 2025, which is available on AngloGold Ashanti’s website, or in its annual report on Form 20-F for the financial year ended 31 December 2025 as filed with 
the SEC.

2025 Mineral Resource and Mineral Reserve information

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. 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, which are in AngloGold Ashanti’s annual report on Form 20-F for the financial year ended 
31 December 2025 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.

Notes:

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.

Continue to the online summary report