ANGLO AMERICAN PLC EXANE BNP PARIBAS EUROPEAN SEMINAR 9 JUNE 2011, PARIS

René Medori Finance Director 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.). STRONG PERFORMANCE FROM A UNIQUELY DIVERSIFIED PORTFOLIO UNIQUE DIVERSIFICATION IN STRUCTURALLY ATTRACTIVE COMMODITIES

Commodity diversification Chinese demand for our products

Attributable earnings by Business Unit1 % ’s share of global consumption %

PRECIOUS BULKS 62% 60% 15% 60% 47% 5% 9% 55% of our net assets 6% 22% 40% 38% 32% 26%

20% 9% 37% 20% 38% 11% BASE 10% 1% 0%

Platinum Copper Met Coal KIO Nickel Copper Iron Ore Platinum Met Coal Met De Beers Nickel Thermal Coal Samancor Palladium Thermal Coal 1 Core businesses 2010 4 Source: Anglo American, AME, Brook Hunt, a Wood Mackenzie company, Johnson Matthey. Thermal Coal represents share of internationally traded market, nickel and copper represent share of world mined production DELIVERING STRONG PERFORMANCE.. SOLID FOUNDATION FOR GROWTH

Significant Asset Optimisation Metallurgical coal productivity Platinum productivity & Procurement benefit

ROM (kt) per FTE at export mines m2 per operating employee per month

AO +23% Procurement 7.1 $3.0bn +48% 6.3 8.8 5.7 7.9

6.0 $1.7bn 2.2

1.2

0.8 0.5

2009 2010 2008 2009 2010 2008 2009 2010

5 IMPROVING NET DEBT POSITION

Net cash inflows from Disposals 2010 & 2011 disposals1 Net debt and gearing

Including:

$11.3bn Moly-Cop and AltaSteel $1.0bn $11.0bn

Australian undeveloped coal assets $0.5bn $7.4bn Tarmac European businesses2 $0.5bn

Skorpion zinc mine $0.6bn

Black Mountain $0.3bn

Lisheen $0.2bn 2008 2009 2010

Gearing 38% 29% 16% $3.2bn

1 A further $0.2bn was received from sales of joint ventures in Platinum and Metallurgical Coal business units 6 2 Relates to Tarmac’s French and Belgian and Polish Concrete Products business and its European Aggregates business MACRO ECONOMIC ENVIRONMENT LONG TERM ECONOMIC ENVIRONMENT SUPPORTED BY DEVELOPING ECONOMIES

Middle Classes by region 2009 and 2030 Investment in infrastructure (US$ billion, constant 2005 prices and exchange rates) 1,000 900 2008 2030 800 700 600 500 400 300 200

100 0 1bn US Japan Germany UK China India Brazil GDP per capita growth in developing economies 19.5 18.5 India China 13.3 Brazil 12.7 9.6 7.7 7.8 6.6 5.2 2.7 3.0 1.7

2000 2010 2020 2030 8 Source: Anglo American ,OECD, Standard Chartered Research, McKinsey Global Institute CHINESE URBANISATION IS SET TO CONTINUE

2010 GDP per capita 2020 GDP per capita US$ 7,000 US$ 13,000

Heilongjiang Heilongjiang

Jilin Jilin Inner Inner Mongolia Liaoning Mongolia Liaoning Xinjiang Xinjiang Huang River Huang River Beijing Beijing Tianjin Tianjin Hebei Hebei Shanxi Shanxi Shandong Shandong Qinghai Ningxia Qinghai Ningxia

Gansu Jiangsu Gansu Jiangsu Shaanxi Henan Shaanxi Henan Anhui Anhui Tibet Shanghai Tibet Shanghai Hubei Hubei Chongqing Chongqing Sichuan Sichuan Zhejiang Zhejiang River Yangtze River Jiangxi Jiangxi Hunan Hunan Guizhou Fujian Guizhou Fujian

Xun River Taiwan Xun River Taiwan Yunnan Guangdong Yunnan Guangdong Guangxi Hong Kong Macau

Hainan Hainan

● >$12k ● $9k-$12k

● $6k-$9k ● $3k-$6k

● <$3k 9 Source: Anglo American URBANISATION WILL DRIVE EARLY PHASE STEEL DEMAND GROWTH

Demographic steel intensity kg per capita

700 Japan

600

500 Germany Developed world

400 USA

China 300

200

World

100 India

0 1997 2000 2005 2010 2015 10 Source: Anglo American PLATINUM AND DIAMOND DEMAND WILL GROW AS ECONOMY MATURES

Chinese platinum jewellery demand DTC nominal price index 80% 1800 160 Diamond Demand Growth in 2010

US 7% 70% 150 1600 Japan 4% India 37% 140 60% 1400 China 26% Total 8% 130 1200 50% Pt price US$/oz price Pt 120 1000 40% 110 800 30% 100 600

Pt share global demandPt % 90 20% DTC nominal price index 400 80 10% 200 70 0 0% 60 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010

11

Source: Anglo American ,Johnson Matthey, De Beers SUPPLY CONSISTENTLY UNDER DELIVERS

Copper industry production planned vs. actual Copper industry grade declines – a long term downward trend

20

2010 2010 planned planned

Mt Copper Mt 15 2007 2010 actual actual Copper grade Cu %

10 2008 2010

12 Source: Anglo American ,Brook Hunt A Wood Mackenzie Company WELL POSITIONED TO CONTINUE TO DELIVER GROWTH SUCCESSFUL DELIVERY OF BARRO ALTO IS ONLY THE BEGINNING..

Barro Alto Nickel, Los Bronces Copper, Kolomela Minas-Rio Brazil Brazil Chile Iron Ore, South Africa 45% complete 100% complete 92% complete 89% complete

First Q1 2011 Q4 2011 H1 2012 H2 2013 Production • 41 ktpa first five yrs; 36 • 278 ktpa • 9 Mtpa • 26.5 Mtpa ktpa over LOM • Doubling Los Bronces • High quality export •Extremely high • First metal achieved 30 capacity to 490ktpa1 iron ore quality pellet feed March • At peak production, 5th • Positioned H1 cost • 80 – 90 Mtpa • Proven technology largest producing copper curve potential capacity standard rotary kiln - mine globally • Capex $1.1bn • Positioned in Q1 electric furnace • Positioned H1 cost cost curve • Positioned H1 cost curve • Capex $5bn curve • Capex $2.8bn • Completed on budget $1.9bn

1 Over first 3 years, average 400 ktpa over first 10 years 14 THE NEAR TERM PIPELINE WILL INCREASE PRODUCTION BY 50% TO 2015, WITH FURTHER VOLUME GROWTH BEYOND

100% 200 Selected projects Jacaré I, Morro Sem Boné 180 Michiquillay, Collahuasi 160 50%

140 Barro Alto Los Bronces Various Platinum Quellaveco Projects 120

Various Platinum 100 Nickel Grosvenor Ph2, Projects Copper Moranbah South, 80 Drayton South

PGM Grosvenor Ph1 Cerrejón, Elders, New 60 Largo

40 Met Coal SEP 1B, Sishen B-Grade Indexed production growth growth (2009 = production Indexed 100) Thermal Coal (SEP2), Minas-Rio Minas-Rio , Kolomela 20 expansion Iron Ore 0 2009 2015 Outlook

15 THANK YOU