ANGLO AMERICAN PLATINUM LIMITED ANNUAL RESULTS 2020 ANGLO AMERICAN PLATINUM LIMITED RE-IMAGINING MINING TO IMPROVE PEOPLE’S LIVES ANNUAL RESULTS 2020 RESULTS ANNUAL KEY FEATURES FATALITIES EBITDA NET SALES REVENUE Own managed operations 1 R41.6bn R137.8bn 2020 1 2020 R41.6bn 2020 R137.8bn 2019 0 2019 R30.0bn 2019 R99.6bn NET CASH HEADLINE EARNINGS PER SHARE ROCE R18.7bn 11,554 cents 72% 2020 R18.7bn 2020 11,554 cents 2020 72% 2019 R17.3bn 2019 7,087 cents 2019 58% CONTENTS 1 Performance highlights 2 2020 Annual results commentary 20 Summarised consolidated statement of comprehensive income 21 Summarised consolidated statement of financial position 22 Summarised consolidated statement of cash flows 23 Summarised consolidated statement of changes in equity 24 Notes to the summarised consolidated SUPPORTING DOCUMENTATION ON THE WEBSITE financial statements Full annual financial statements (AFS) 40 Sustainability commitments Full Ore Reserves and Mineral Resources report 42 Group performance data Environmental, social and governance (ESG) report 73 2020 Annual results presentation www.angloamericanplatinum.com/investors/annual-reporting/2020 IBC Administration PERFORMANCE HIGHLIGHTS 2020 2019 %,change OPERATIONAL PERFORMANCE Tonnes milled 000 tonnes 24,851 28,932 (14) Built-up head grade 4E g/tonne 3.56 3.62 (2) Total PGM production¹ 000 oz 3,808.9 4,440.8 (14) PGM ounces produced per employee per annum 93.4 110.5 (15) REFINED PRODUCTION (EXCLUDING TOLLING) Total PGMs 000 oz 2,713.1 4,650.0 (42) Platinum (Pt) 000 oz 1,201.0 2,210.9 (46) Palladium (Pd) 000 oz 905.3 1,480.5 (39) Rhodium (Rh) 000 oz 173.9 293.4 (41) Other PGMs 000 oz 432.8 665.1 (35) Nickel (Ni) 000 tonnes 13.9 23.0 (40) Copper (Cu) 000 tonnes 10.4 14.2 (27) FINANCIAL PERFORMANCE Total net sales revenue R million 137,790 99,551 38 Net sales revenue per ounce (excluding trading) R/PGM oz sold 33,320 19,534 71 Cost of sales R million 98,067 72,737 35 Cash on-mine cost per tonne milled R/tonne 993 884 12 Cash operating cost per PGM oz produced (mined volume) R/PGM oz 11,739 10,189 15 Gross profit on metal sales R million 39,723 26,814 48 Gross profit margin % 29 27 2 Adjusted EBITDA R million 41,583 29,950 39 Adjusted EBITDA margin (excluding trading) % 43 32 11 Mining EBITDA margin % 55 43 12 ROCE % 72 58 14 Headline earnings R million 30,346 18,603 63 Headline earnings per share cents 11,554 7,087 63 Dividend per share (ordinary and special) cents 4,558 5,260 (13) Net cash R million 18,650 17,278 7 Capital expenditure R million 9,471 8,301 13 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) Fatalities Number 1 — Total recordable case frequency rate (TRCFR) Rate / million hrs 2.40 2.50 (4) Employees³ Number (at period end) 25,634 25,268 1 HDSAs in management4 % 80 78 2 5 GHG emissions, CO2 equivalents 1,000 tonnes 3,943 4,436 (11) Water withdrawals or abstractions Megalitres 22,357 25,094 (11) Energy use Terajoules 18,045 20,079 (10) Number of Level 4 and 5 environmental incidents Number — — — Total social investment excluding dividends6 R million 459 392 17 ¹ Sum total of Platinum, Palladium, Rhodium, Iridium, Ruthenium and Gold. ² Amplats total own and contractor employees excluding joint venture and associate employees and contractors. ³ Includes all levels of management. 4 Excludes Scope 3 emissions. 5 Total social investment includes SLP and CSI expenditure of R378 million and R81 million for COVID-19 related initiatives. Anglo American Platinum Limited Annual Results 2020 1 ANNUAL RESULTS 2020 ANNUAL RESULTS COMMENTARY 2020 ANNUAL RESULTS 2 Anglo American Platinum Limited Annual Results 2020 RECORD FINANCIAL PERFORMANCE AHEAD OF NEXT PHASE OF VALUE CREATION Commitment to eliminate fatalities – regrettably, one colleague died in a fall-of-ground incident at Amandelbult Adapting the business to deliver through headwinds – including the temporary closures and the successful repair of the Anglo Converter Plant (ACP), and the ongoing impact of the Covid-19 pandemic Safety performance continues to improve – total recordable injury frequency rate improved by 4% to 2.40 per million hours worked Dedication to the health and wellbeing of our employees and communities during the pandemic – comprehensive WeCare programme to protect lives and livelihoods Continuing to protect the environment – commitment to becoming carbon neutral by 2040 Making a difference to local communities – successful settlement of the Alchemy notional vendor financing, leading to the transfer of unencumbered shares to communities of c.R2 billion (as at 31 December 2020) Operations set up for a strong 2021 recovery ­ PGM production impacted by national Covid-19 lockdowns in South Africa and Zimbabwe – c.712,300 ounces lost in 2020 ­ Significant rebound in production in the second half of the year up 1% against H2 2019 Refined PGM production affected by the temporary shutdowns of the ACP ­ – Impact mitigated through rapid response and management capability ­ – ACP Phase A repair completed ahead of schedule ­ – Build-up of work-in-progress inventory of c.1 million PGM ounces to be released over 24 months Sales volumes impacted by lower refined production – partially offset by drawdown of refined metal inventory. Trading activities increased to support customers and mitigate the impact of lower refined production. Strong financial performance, underpinned by a 71% increase in the PGM basket price ­ – Record EBITDA of R41.6 billion, a 39% increase ­ – Return on capital employed increased to 72% ­ – Net cash position of R18.7 billion (including the customer prepayment) Final dividend declared – R9.4 billion, or R35.35 per share, based on a 40% of headline earnings pay-out ratio. The capability of our people ensure we continue to manage the business for the long term – with developments towards achieving carbon neutrality, implementing technology and driving innovation to realise further performance improvements, despite the challenging year. Anglo American Platinum Limited Annual Results 2020 3 ANNUAL RESULTS 2020 ANNUAL RESULTS COMMENTARY Natascha Viljoen, CEO of Anglo American Platinum, commented: “2020 has been a devastating year for many who have lost loved ones to Covid-19, and we pay our respects to victims of the virus on behalf of everyone at Anglo American Platinum. From a safety perspective, we let ourselves down this year. We regrettably lost our colleague Lindile Manzingi, a 56-year-old mining team supervisor, in a fall of ground incident on 3 September at Amandelbult mine. I am also deeply saddened by the loss of three of our colleagues at our joint operations – João Silindane at Kroondal, and Johannes Mahlalela and Dennis Mdaka at Modikwa. Work-related fatalities are never acceptable, and we continue to focus on implementing safety improvements to ensure we eliminate fatalities and create a safe work environment for our employees. We extend our deepest condolences to their families, friends and colleagues. The pandemic has posed incredible challenges on many fronts. The mining industry has, however, played a leading role in limiting the disastrous health and economic impact of the virus. With the support of the South African and Zimbabwean governments, the industry was allowed to return to work during the lockdown period as a result of the strict Covid-19 workplace protocols we put in place to limit the spread of the virus and to help keep employees and host communities safe and well. We are well equipped to manage safety and health risks supported by our robust health management systems, which enabled us to adapt quickly and restart operations. By doing so and recognising our role as the economic engine in many areas, we have been able to continue paying employees and suppliers, and carry on our extensive provision of services in our host communities - allowing us to make a significant contribution to the economic recovery of the countries in which we operate. We are particularly proud of the support we have given to our employees and communities during the pandemic, with more than R500 million spent on Covid-19, including gender-based-violence (GBV) prevention and victim support measures, and R1.6 billion paid to employees who could not work due to lockdown regulations or underlying health issues. We believe the industry will continue to play an essential role in safeguarding lives and livelihoods during the pandemic. This includes the role we can play to assist in the roll-out of Covid-19 vaccines through both our logistical capabilities and existing medical infrastructure. Our engagements with governments and other stakeholders continue in this regard. Despite the impact of Covid-19 on operations, which included a full ramp-down of operations to meet the initial requirements of the national lockdowns, we saw metal-in-concentrate (M&C) production decrease by only 14% for the year. We had a strong ramp- up and recovery in production in the second half, up 1% against H2 2019, which was largely back to normal despite the additional safety and hygiene protocols now embedded in our operating practices. We continued our P101 journey with step changes made in operational efficiencies at most of our operations and the fast track roll-out of technology and modernisation that will underpin the value generated from our operations. The temporary shutdowns of the ACP impacted our refined production. It is testament to the capabilities of a strong ACP management team that we were able to manage the Phase B unit safely during the year. In November, we had to bring the Phase B unit down before the Phase A repairs had been completed, but we were successful in completing the repair of ACP Phase A as planned and ahead of schedule, reflecting careful planning and construction.