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Analyst Visit October 2009

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Analyst Visit October 2009 Analyst Visit October 2009 • Day 1: Barro Alto Project • Day 2: Minas Rio Presentation • Day 3: Los Bronces Project 0 Cautionary statement Disclaimer: This presentation has been prepared by Anglo American plc (“Anglo American”) and comprises the written materials/slides for a presentation concerning Anglo American. By attending this presentation and/or reviewing the slides you agree to be bound by the following conditions. This presentation is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy shares in Anglo American. Further, it does not constitute a recommendation by Anglo American or any other party to sell or buy shares in Anglo American or any other securities. All written or oral forward-looking statements attributable to Anglo American or persons acting on their behalf are qualified in their entirety by these cautionary statements. Forward-Looking Statements This presentation includes forward-looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding Anglo American’s financial position, business and acquisition strategy, plans and objectives of management for future operations (including development plans and objectives relating to Anglo American’s products, production forecasts and reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Anglo American’s present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American’s actual results, performance or achievements to differ materially from those in the forward- looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, mineral resource exploration and development capabilities, recovery rates and other operational capabilities, the availability of mining and processing equipment, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American’s most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this presentation. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers (the “Takeover Code”), the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Services Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SWX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in this presentation should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share. Certain statistical and other information about Anglo American included in this presentation is sourced from publicly available third party sources. As such it presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American. No Investment Advice This presentation has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs. It is important that you view this presentation in its entirety. If you are in any doubt in relation to these matters, you should consult your stockbroker, bank manager, solicitor, accountant, taxation adviser or other independent financial adviser (where applicable, as authorised under the Financial Services and Markets Act 2000 in the UK, or in South Africa, under the Financial Advisory and Intermediary Services Act 37 of 2002.). 1 Anglo Base Metals: Barro Alto Project Shaping our Nickel Portfolio Brian Beamish Chief Executive, Anglo Base Walter De Simoni Head of Nickel Euler Piantino Barro Alto Project Manager 6th October 2009 Brian Beamish, CEO Anglo Base 1. Introduction to Anglo Base Metals Walter De Simoni, Head of Nickel 2. Nickel Market Overview Walter De Simoni, Head of Nickel 3. Nickel Business Overview Euler Piantino, Barro Alto Project Manager 4. Barro Alto Project Delivery Questions and Answers Site Visit Itinerary 3 Safety First: Our Number 1 Priority Base Metals Safety Performance* Safety Statistics 7 0.7 • Safe production is our top priority 6 0.6 • Vision to achieve Zero Harm through effective management of safety in all managed 5 0.5 operations and projects 4 0.4 • Safety Improvement Plan implemented across the Division with positive results LTIFR Fatalities 3 0.3 – Codemin has worked in excess of two years 2 0.2 without a LTI 1 0.1 – 13 of our 15 managed operations have had 0 0 no fatalities in the past 2 years, with Chagres 2005 2006 2007 2008 2009 H1 having no fatalities in the past 16 years Fatalities – 6 of our operations achieved their lowest Lost time injury frequency (per 200,000 man hrs) LTIFR since 2005 in H1 2009 – 5 sites were LTI free in H1 2009 *Managed operations – Excludes Collahuasi 4 Base Metals and One Anglo Base Metals – an integrated strategic framework A leading contributor to the Anglo portfolio Large, long-life, expandable, An integrated strategy leveraging Anglo’s Technical, Safety, Asset low cost operations Optimisation and Procurement initiatives to drive significant shareholder value Excellence in project delivery - 25% of approved volume growth from Anglo Base Metals Quality and experience of Anglo Base management 5 Base Metals Strategy Focus on large, long life, expandable, low cost operations, weighted towards the more structurally attractive commodities • Since 1999, significant reshaping of the portfolio has taken place – Divestment of smaller, higher-cost EBITDA Margin operations e.g. KCM, BCL, Bindura, Tati, Copper 72% HBMS 71% 71% Nickel 70% 67% Zinc – Acquisition of Disputada at bottom of 64% 61% 61% 59% 58% cycle, organic growth and acquisitions of 57% high quality projects to provide significant 52% optionality 44% 36% • Copper generates the majority of earnings 35% • Focus on high quality operations has 29% delivered attractive margins 21% • An operating and growth strategy targeting 13% low cost production in established operating environments, leveraging from technical and geographical experience 2004 2005 2006 2007 2008 2009 H1 6 Management Team • Decentralised structure • Depth of management Brian Beamish CEO Duncan Walter De John Allen Ramsay Peter Whitcutt Greg Ruthven Business Dave Morris Graham Brown Wanblad Simoni Mackenzie Head of CFO HR Development Head S&SD Exploration Head of Copper Head of Nickel Head of Zinc Technical 7 Geographical Footprint Copper Nickel, Phosphates, Niobium Zinc 8 Rep of 1 Ireland 6 Venezuela 2 1 Alaska 2 3 7 4 6 95 Brazil Chile 5 42 3 Namibia Operations 2008 Prod 1 Collahuasi (44%) 204kt 1 South 3 4 Africa 2 Mantos Blancos 88kt 3 Mantoverde 63kt 4 El Soldado 50kt Operations 2008 Prod 5 Los Bronces 236kt 1 Loma de Níquel (Ni) 11kt Operations 2008 Prod 9 Chagres 146kt 2 Codemin (Ni) 9kt 1 Skorpion 145kt Approved Projects Est. Prod 3 Copebrás (P) 982kt 2 Lisheen 167kt 5 Los Bronces to 415kt 3 Catalão (Nb) 4.6kt 3 Black Mountain 28kt Unapproved Projects Est. Prod Approved Projects Est. Prod Unapproved Projects Est. Prod 6 Quellaveco 175kt 4 Barro Alto (Ni) 36kt 4 Gamsberg 400kt 1 Collahuasi expansions Up to 1Mt Unapproved Projects Est. Prod 7 Pebble 350kt 5 Morro Sem Bone (Ni) 32kt 8 Michiquillay 300kt 6 Jacaré Phase 1 (Ni) 40kt Mining operation 3 Mantoverde Sulphides 55kt 3 Goias II (P) ~x2 Smelting operation 9 Chagres expansion +166kt Greenfield project 8 Financial Profile • Anglo Base Metals is a significant profit Operating Profit by Commodity* (US$M) contributor within Anglo, averaging over one 3,019 third of operating profit in the last 3½ years 2,983 2,017 Anglo Base Metals contribution to Group’s Operating Profit (% of total Operating Profit) 654 651 604 516 354 345 182 153 136 56 60 40 2 56 55 75 67 2006 2007 2008 2009 H1 Copper Zinc Nickel 44 45 Niobium, Phosphates & Mineral Sands 25 33 Operating Profit by Region* (US$M) 2006 2007 2008 2009 H1 Anglo Base Metals 3,019 Remaining AA plc BUs 2,983 • Copper is the largest segment within Anglo 2,017 Base
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