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AngloGold Ashanti Q3 profit rises to $787M

Gold production was down 9%, all-in sustaining costs increased 26%, and free cash flow declined 22% year over year in Q3 2026.

Available on EDGAR Accepted by SEC EDGAR
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(Moderate)
Filing Sentiment

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Form Type
6-K

Rhea-AI Filing Summary

AngloGold Ashanti (AU) reported Q3 2026 EBITDA of $1.568 billion, up 12% year over year, and profit attributable to equity shareholders of $787 million versus $669 million. Gold production was 696,000 ounces, down 9% from 768,000 ounces, while free cash flow was $722 million versus $920 million. The average gold price received was $4,239 per ounce, and all-in sustaining costs were $2,170 per ounce, up 26%.

Net cash was $1.256 billion and liquidity approximately $4.5 billion at September 30, 2026. The board declared an interim dividend of 71 US cents per share and reaffirmed full-year production guidance of 2,800,000 to 3,170,000 ounces. One colleague died in an underground rockfall at Sukari in August; operations were suspended and later resumed.

The company completed an acquisition of Lake Carey tenements on October 20 for A$55 million (US$39 million). The board approved North Bullfrog’s execution phase, subject to federal and state permits. Shareholders approved a proposed repurchase program of up to $2.0 billion, but the company is not obligated to repurchase shares.

3 points · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 3 points

How the balance works

Positive

  • Moderate pointQ3 EBITDA rose 12% to $1.568 billion.
  • Moderate pointNine-month headline earnings rose 75% to $3.085 billion.
  • Moderate pointNine-month operating cash flow increased 43% to $4.521 billion.

Negative

  • Moderate pointQ3 free cash flow fell 22% to $722 million.
  • Moderate pointQ3 gold production fell 9% to 696,000 ounces.
  • Moderate pointQ3 all-in sustaining costs rose 26% to $2,170 per ounce.

Filing Explained

Guinea's requirement to refine raw gold domestically before export is in force; implementation details remain under discussion.

The company says it became aware on October 16, 2026 of unauthorized activity involving certain systems; it believes containment measures succeeded, while the investigation remains ongoing. It reports that mining production has not been affected.

A decree that took effect in Guinea in early October requires raw gold to be refined domestically before export; the company is discussing implementation with the government.

EBITDA $1.568 billion; up 12% from $1.400 billion Q3 2026 versus Q3 2025
Profit attributable to equity shareholders $787 million, compared with $669 million Q3 2026 versus Q3 2025
Free cash flow $722 million; down 22% from $920 million Q3 2026 versus Q3 2025
Gold production 696,000 ounces; down 9% from 768,000 ounces Q3 2026 versus Q3 2025
All-in sustaining costs per ounce $2,170 per ounce; up 26% Group, Q3 2026 versus Q3 2025
Net cash $1.256 billion At September 30, 2026
Group liquidity Approximately $4.5 billion At September 30, 2026
Interim dividend 71 US cents per share Q3 2026
Free cash flow financial
"Free cash flow of $722m was achieved in Q3 2026"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
All-in sustaining costs financial
"All-in sustaining costs per ounce* (“AISC”)"
All-in sustaining costs (AISC) is a per-unit measure used mainly in the mining sector that captures the full ongoing cost to produce a unit of metal, including operating expenses, sustaining capital (maintenance of current operations), and a share of corporate overhead and site-level costs. Investors use AISC to judge whether production generates real profit and sustainable cash flow—think of it as the total monthly household cost to keep a home running, not just the utility bill.
Net cash financial
"net cash* position of $1,256m"
Net cash is the amount of money a company has after subtracting any debts or obligations from its total cash holdings. It shows how much cash would remain if the company used its available funds to pay off its debts. For investors, positive net cash indicates financial health and flexibility, while negative net cash may suggest potential difficulties in meeting financial commitments.
Non-managed joint ventures financial
"non-managed joint ventures refers to equity-accounted joint ventures"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much free cash flow did AU generate in Q3 2026?
AU generated $722 million in Q3 2026, compared with $920 million in Q3 2025. The release attributes the lower quarterly figure mainly to lower ounces sold, increased capital expenditure, higher taxes, working-capital absorption and higher operating costs.

What is AU’s full-year gold production guidance?
AU reaffirmed full-year gold production guidance of 2,800,000 to 3,170,000 ounces. The stated estimates assume no operational or labor interruptions or power disruptions, and the company says actual results could differ from guidance.

When will AU pay its Q3 2026 dividend?
AU declared an interim dividend of 71 US cents per share for Q3 2026, with payment scheduled for December 11, 2026. The record date for holders of ordinary shares on the NYSE is November 27, 2026.

Does AU have to carry out its proposed $2 billion share repurchase?
The proposed program is for up to $2.0 billion, and shareholders approved it on July 23, 2026. The company says the program does not obligate it to acquire any particular number of shares and may be initiated, suspended or discontinued at its discretion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2026
Commission File Number: 001-41815
            AngloGold Ashanti plc           
(Translation of registrant’s name into English)
Third Floor, Hobhouse Court, Suffolk Street
London SW1Y 4HH
        United Kingdom        
6363 S. Fiddlers Green Circle, Suite 1000
Greenwood Village, CO 80111
        United States of America       
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F
or Form 40-F.
Form 20-F ☒      Form 40-F ☐
Enclosure: AngloGold Ashanti Earnings Release for the Three Months and Nine Months Ended 30
September 2026
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2
Q3 2026 Earnings Release
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5 November 2026
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Q3 2026 EBITDA*(5) +12% to $1.57bn • Q3 2026 free cash flow* $722m
• YTD free cash flow* $2.6bn • Q3 2026 interim dividend of $361m,
or 71 cps • Full-year 2026 guidance(6) reaffirmed • Net cash*(5)
expands to $1.26bn • Organic growth plan charted
London, Denver, Johannesburg, 5 November 2026 –
AngloGold Ashanti plc (“AngloGold Ashanti”, “AGA”, the
“Company” or the “Group”) delivered $722m in free cash flow* in
Q3 2026, reflecting the underlying cash-generation capacity of its
global portfolio to self-fund strategic reinvestment while
maintaining sector-leading shareholder returns.
Safety performance
AngloGold Ashanti reports with deep sadness the death of a
colleague due to an underground rockfall at the Sukari
underground mine in August 2026. The Company’s Board of
Directors (“Board”) and leadership team extend their sincere
condolences to the family, friends, and co-workers.
Operations were suspended immediately to investigate alongside
authorities and review critical risk procedures with all site teams.
Operations have since resumed, with key learnings being
implemented across the Group.
Operating performance
With year-to-date gold production for the Group(1)(2) of
2,164,000oz, AngloGold Ashanti confirms full-year output tracking
to achieve annual guidance(6).
Through a planned period of intensive reinvestment in growth
and mine life extension projects, as well as scheduled mine
sequencing, AngloGold Ashanti generated $722m in free cash
flow*, lifted net cash*(5) to $1.26bn, and supported an interim
dividend for Q3 2026 of $361m.
“Our Q3 2026 performance highlights AngloGold Ashanti’s
structural quality and free cash flow* generation,” said CEO
Alberto Calderon. “We remain focused on operational
predictability, balance sheet resilience, and delivering on our
commitments.”
The operational catalysts that are expected to unlock a strong Q4
2026 are already active across the Company’s assets.
Dewatering at Iduapriem following flooding from a neighbouring
mine earlier this year, has restored full access to high-grade
mining blocks; open-pit waste-stripping at Sukari is unlocking
higher-grade ore and underground stopes at Obuasi are returning
to their operational ramp-up following a fatality earlier this year.
“We are well positioned to deliver a strong final quarter to achieve
our full-year gold production targets while advancing our long-
term, high-margin pipeline in Nevada and our brownfield assets,”
said CEO Alberto Calderon.
Cash conversion, balance sheet strength
The strong financial result translated into improved balance sheet
strength. EBITDA*(5) for Q3 2026 rose 12% year-on-year to
$1,568m, from $1,400m(3) for Q3 2025, supported by the
increase in the average gold price received per ounce*(1) for the
Group to $4,239/oz, from $3,490/oz(3) in Q3 2025.
Free cash flow* of $722m was achieved in Q3 2026, compared
with $920m(3) in Q3 2025, as tax payments increased year-on-
year in line with improved profitability and the Company
increased investment in safe, sustainable production and a
portfolio of organic growth projects. Free cash flow* was
impacted in Q3 2026 mainly by lower ounces sold as well as:
•A planned 45% increase in total capital expenditure to $497m
in Q3 2026, funding critical waste stripping campaigns, fleet
upgrades, and the continued advancement of the North
Bullfrog and Arthur Gold Projects in Nevada.
•A year-on-year increase in net cash taxes paid to $174m in
Q3 2026, from $75m(3) in Q3 2025.
•A working capital absorption mainly from lower payables and
higher receivables, and higher operating costs.
The Group ended Q3 2026 in a net cash*(5) position of $1,256m,
with overall liquidity of around $4.5bn, providing substantial
headroom to fund organic growth.
Sector-leading returns
Reflecting the continued robust cash flow generation, the Board
declared an interim dividend of $361m, or 71 US cents per share
for Q3 2026. This brings total dividends declared year-to-date to
$1,310m, or 259 US cents per share.
Guidance reaffirmed(6)
Full-year gold production guidance of 2,800,000oz to
3,170,000oz is reaffirmed.
Gold production for the Group(1)(2) of 696,000oz in Q3 2026
reflected anticipated grade sequencing across key open pits and
short-term operating challenges that have since normalised. Five
assets expanded production year-on-year compared with Q3
2025, led by Siguiri (+49%), Sunrise Dam (+6%), Kibali (+6%),
Cuiabá (+4%), and Cerro Vanguardia (+2%), reinforcing the
benefits of the Group’s diversified portfolio. Year-on-year
production decreases were recorded at Tropicana, as anticipated
(-15%), Iduapriem (-43%), Obuasi (-26%), Sukari (-21%), and
Geita (-4%) in Q3 2026.
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3
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
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Group Performance continued
Total cash costs per ounce* for Q3 2026 were $1,534/oz, versus
$1,480/oz in Q2 2026 and $1,225/oz in Q3 2025. AISC per
ounce* for Q3 2026 were $2,170/oz from $1,720/oz in Q3 2025,
with most of the increase stemming from exogenous market-
related factors. This performance also reflects planned annual
sustaining capital expenditure* and volume-sensitive fixed cost
absorption during the lowest-production quarter of the year.
Exogenous, market-driven factors accounted for $189/oz (61%)
of the year-on-year increase in total cash costs per ounce* in Q3
2026, and $201/oz (83%) of the year-on-year increase across the
first nine months of 2026. These external factors reflect, among
other things:
•Price-linked royalties: Average gold price received per
ounce*(1) of $4,518/oz for year-to-date (“YTD”) Sep 2026,
generated a royalty impact of +$81/oz across the cost base
compared to YTD Sep 2025.
•Energy pricing lags: The pass-through impacts on fuel from
market-driven increases in global crude oil increased the cost
base by +$33/oz for YTD Sep 2026 compared to YTD Sep
2025.
Unlocking organic growth and long-term value
AngloGold Ashanti has identified targeted, capital efficient
brownfield expansions across its portfolio. These projects – at
Geita, Siguiri, and Cuiabá, as well as the ongoing ramp-up at
Obuasi – are designed to leverage existing infrastructure and
operational footprints to reduce execution risk and optimise
capital intensity.
Total forecast capital expenditure for the growth projects at Geita,
Siguiri and Cuiabá is estimated at $750m to $900m over a 3 year
period, which is projected to provide incremental production from
a 2025 base of 300,000oz - 450,000oz by the end of the decade.
At steady state, these projects are expected to maintain or
improve real operational costs.
In Nevada, the Arthur Gold Project Feasibility Study and North
Bullfrog permitting activities are advancing on schedule, with the
aim to establish the Company’s next Tier One production centre
in a premier mining jurisdiction. On 3 November 2026, the Board
approved funding for the execution phase of the North Bullfrog
project, subject to receipt of federal and state-level permits.
“We have world-class, Tier One growth advancing in Nevada,
and near-term upside within our existing operations,” said CEO
Alberto Calderon. “These are high-return, capital efficient projects
at our operating mines that are expected to provide high-margin
ounces and unlock further value from our portfolio.”
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AGA Mineração, Brazil
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4
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
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Group Performance continued
(1)The term “managed operations” refers to subsidiaries managed by
AngloGold Ashanti and included in its consolidated reporting, while the
term “non-managed joint ventures” (i.e., Kibali) refers to equity-accounted
joint ventures that are reported based on AngloGold Ashanti's share of
attributable earnings and are not managed by AngloGold Ashanti.
Managed operations are reported on a consolidated basis. Non-managed
joint ventures are reported on an attributable basis.
(2)Includes gold concentrate from the Cuiabá mine sold to third parties.
(3)Includes the results of Serra Grande operation to the date of disposal on    
1 December 2025.
(4)The financial measures “headline earnings (loss)” and “headline earnings
(loss) per share” are not calculated in accordance with IFRS® Accounting
Standards, but in accordance with the Headline Earnings Circular 1/2023,
issued by the South African Institute of Chartered Accountants (SAICA), at
the request of the Johannesburg Stock Exchange Limited (JSE).
These measures are required to be disclosed by the JSE Listings
Requirements and therefore do not constitute Non-GAAP financial
measures for purposes of the rules and regulations of the US Securities
and Exchange Commission (“SEC”) applicable to the use and disclosure of
Non-GAAP financial measures.
(5)To enhance comparability with industry peers, AngloGold Ashanti will
present net debt (cash)* and EBITDA* as well as its net debt (cash)* to
EBITDA* ratio (leverage ratio), which are Non-GAAP financial measures,
and will not further adjust these metrics in its reporting. Comparative
periods will also reflect this change.
(6)Estimates assume neither operational or labour interruptions or power
disruptions, nor further changes to asset portfolio and/or operating mines
and have not been reviewed by AngloGold Ashanti’s external auditors.
Other unknown or unpredictable factors, or factors outside the Company’s
control, including inflationary pressures on its cost base, could also have
material adverse effects on AngloGold Ashanti’s future results and no
assurance can be given that any expectations expressed by AngloGold
Ashanti will prove to have been correct. Measures taken at AngloGold
Ashanti’s operations together with AngloGold Ashanti’s business continuity
plans aim to enable its operations to deliver in line with its production
targets. Actual results could differ from guidance and any deviations may
be significant. Please refer to the Risk Factors section in AngloGold
Ashanti’s annual report on Form 20-F for the financial year ended
31 December 2025 filed with the SEC.
*Refer to “Non-GAAP disclosure” for definitions and reconciliations.
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Nevada, United States of America
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5
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Performance continued
Financial results
Quarter
Quarter
Nine
months
Nine
months
ended
ended
%
ended
ended
%
Sep
Sep
Variance
Sep
Sep
Variance
US Dollar millions, except as otherwise noted
2026
2025
2026
2025
Average gold price received*(1) ($/oz)
4,239
3,490
21%
4,518
3,222
40%
EBITDA*(5) ($m)
1,568
1,400
12%
5,833
3,749
56%
Headline earnings(4) ($m)
790
672
18%
3,085
1,759
75%
Capital expenditure - Group(1) ($m)
563
388
45%
1,579
1,105
43%
Net cash flow from operating activities ($m)
1,380
1,419
(3)%
4,521
3,162
43%
Free cash flow* ($m)
722
920
(22)%
2,617
1,858
41%
Net cash*(5) ($m)
1,256
231
N/M
1,256
231
N/M
N/M: Not meaningful
Financial highlights
•EBITDA*(5) rose year-on-year to $1,568m for Q3 2026, compared to $1,400m for Q3 2025, mainly due to the higher average
gold price received per ounce*, higher equity earnings from non-managed joint ventures, and lower costs related to legacy
tailings storage facilities (“TSF”), partly offset by lower ounces sold and higher operating costs
•Free cash flow* declined year-on-year to $722m in Q3 2026, from $920m in Q3 2025. This decline mainly reflects increased
capital expenditure, higher tax payments, lower working capital inflows, higher operating costs and lower gold sold, which was
partly offset by the benefits of a stronger average gold price received per ounce*(1)
•Headline earnings(4) rose year-on-year to $790m in Q3 2026, from $672m in Q3 2025; headline earnings(4) per share was up
year-on-year to 155 US cents per share in Q3 2026, from 132 US cents per share in Q3 2025
•Total capital expenditure for the Group(1) increased year-on-year to $563m for Q3 2026, from $388m in Q3 2025, including
$352m in sustaining capital expenditure* and $211m in non-sustaining capital expenditure*, reflecting reinvestment across the
portfolio
•Net cash*(5) position of $1,256m at 30 September 2026
•Interim dividend of 71 US cents/share declared for Q3 2026
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
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6
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Performance continued
Operating results
Quarter
Quarter
Nine
months
Nine
months
ended
ended
%
ended
ended
%
Sep
Sep
Variance
Sep
Sep
Variance
US Dollar millions, except as otherwise noted
2026
2025
2026
2025
Gold production - Group(1)(2) (koz)
696
768
(9)%
2,164
2,292
(6)%
Gold production - Managed operations(1)(2 )(koz)
605
682
(11)%
1,939
2,068
(6)%
Total cash costs* - Group(1) ($/oz)
1,534
1,225
25%
1,467
1,224
20%
Total cash costs* - Managed operations(1) ($/oz)
1,597
1,244
28%
1,483
1,233
20%
AISC* - Group(1) ($/oz)
2,170
1,720
26%
2,053
1,676
22%
AISC* - Managed operations(1) ($/oz)
2,273
1,766
29%
2,104
1,706
23%
Operational highlights
•Total Recordable Injury Frequency Rate (“TRIFR”) at managed operations was 1.09 injuries per million hours worked in Q3
2026, compared to 0.79 injuries per million hours worked in Q2 2026
•Gold production for the Group(1)(2) decreased by 9% year-on-year in Q3 2026 to 696,000oz compared to 768,000oz in Q3 2025;
excluding Serra Grande, there was an 8% year-on-year decrease in Q3 2026 compared to Q3 2025
•Siguiri delivered 58,000oz in Q3 2026, a significant 49% year-on-year increase from Q3 2025, overcoming the TSF-related plant
stoppage in Q3 2025, while Sunrise Dam (+6%), Kibali (+6%), Cuiabá (+4%) and Cerro Vanguardia (+2%) also grew production
year-on-year
•Sukari’s gold production decreased 21% year-on-year in Q3 2026, mainly as a result of the mining of increased ounces from
Stage 5 in Q3 2025, as well as the inclusion of lower-grade material and lower-grade underground development ore in Q3 2026
•Total cash costs per ounce* for the Group(1) increased year-on-year to $1,534/oz in Q3 2026, from $1,225/oz in Q3 2025; AISC
per ounce* for the Group(1) rose year-on-year to $2,170/oz in Q3 2026, from $1,720/oz in Q3 2025
•Total cash costs per ounce* from managed operations(1) increased year-on-year to $1,597/oz in Q3 2026, from $1,244/oz in Q3
2025 mainly due to the impact of lower gold production and market-driven factors, with higher labour and mining contractor
rates, increased gold royalty costs, higher fuel costs, as well as appreciation of local currencies against the US dollar
•AISC per ounce* from managed operations(1) rose year-on-year to $2,273/oz in Q3 2026, from $1,766/oz in Q3 2025, reflecting
the impact of lower gold sales, higher total cash costs per ounce* and higher sustaining capital expenditure* reinvestment
•AngloGold Ashanti reaffirmed its full-year 2026 guidance, with gold production, costs and capital spending expected to remain
within the guided ranges(6)
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
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7
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Financial and Operating Key Statistics
Key statistics
Quarter
Quarter
Nine
months
Nine
months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
US Dollar millions, except as otherwise noted
2026
2025
2026
2025
Operating review
Gold
Produced - Group(1)(2)(3)
- oz (000)
696
768
2,164
2,292
Produced - Managed operations(1)(2)(3)
- oz (000)
605
682
1,939
2,068
Produced - Non-managed joint ventures(1)
- oz (000)
91
86
225
224
Sold - Group(1)(2)(3)
- oz (000)
697
764
2,168
2,302
Sold - Managed operations(1)(2)(3)
- oz (000)
604
680
1,935
2,083
Sold - Non-managed joint ventures(1)
- oz (000)
93
84
233
219
Financial review
Gold income
- $m
2,559
2,373
8,747
6,707
Cost of sales - Group(1)
- $m
1,456
1,348
4,400
3,933
Cost of sales - Managed operations(1)
- $m
1,316
1,225
4,010
3,597
Cost of sales - Non-managed joint ventures(1)
- $m
140
123
390
336
Total operating costs
- $m
1,025
894
3,087
2,669
Gross profit
- $m
1,303
1,192
4,949
3,228
Average gold price received per ounce* - Group(1)
- $/oz
4,239
3,490
4,518
3,222
Average gold price received per ounce* - Managed operations(1)
- $/oz
4,238
3,488
4,520
3,220
Average gold price received per ounce* - Non-managed joint ventures(1)
- $/oz
4,248
3,502
4,503
3,240
All-in sustaining costs per ounce* - Group(1)
- $/oz
2,170
1,720
2,053
1,676
All-in sustaining costs per ounce* - Managed operations(1)
- $/oz
2,273
1,766
2,104
1,706
All-in sustaining costs per ounce* - Non-managed joint ventures(1)
- $/oz
1,497
1,355
1,628
1,392
Total cash costs per ounce* - Group(1)
- $/oz
1,534
1,225
1,467
1,224
Total cash costs per ounce* - Managed operations(1)
- $/oz
1,597
1,244
1,483
1,233
Total cash costs per ounce* - Non-managed joint ventures(1)
- $/oz
1,117
1,068
1,334
1,145
Profit for the period
- $m
927
815
3,581
2,163
EBITDA*(5)
- $m
1,568
1,400
5,833
3,749
Total borrowings
- $m
1,804
2,301
1,804
2,301
Net cash*(5)
- $m
1,256
231
1,256
231
Profit attributable to equity shareholders
- $m
787
669
3,070
1,781
- US cents/share
154
132
603
350
Headline earnings(4)
- $m
790
672
3,085
1,759
- US cents/share
155
132
606
346
Net cash inflow from operating activities
- $m
1,380
1,419
4,521
3,162
Free cash flow*
- $m
722
920
2,617
1,858
Capital expenditure - Group(1)
- $m
563
388
1,579
1,105
Capital expenditure - Managed operations(1)
- $m
497
342
1,412
995
Capital expenditure - Non-managed joint ventures(1)
- $m
66
46
167
110
(1) The term “managed operations” refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term “non-managed joint
ventures” (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti’s share of attributable earnings and are not managed
by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties.
(3) Includes gold production and gold sold for the Serra Grande operation, which was sold on 1 December 2025, comprising (i) gold produced and gold sold of 15,000oz
for Q3 2025 and (ii) gold produced of 42,000oz and gold sold of 41,000oz for YTD Sep 2025.
(4) The financial measures “headline earnings (loss)” and “headline earnings (loss) per share” are not calculated in accordance with IFRS® Accounting Standards, but in
accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg
Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial
measures for purposes of the rules and regulations of the US Securities and Exchange Commission (“SEC”) applicable to the use and disclosure of Non-GAAP
financial measures.
(5) To enhance comparability with industry peers, AngloGold Ashanti will present net debt (cash)* and EBITDA* as well as its net debt (cash)* to EBITDA* ratio
(leverage ratio), which are Non-GAAP financial measures, and will not further adjust these metrics in its reporting. Comparative periods will also reflect this change.
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
$ represents US Dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.
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8
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial and Operating Results
Quarterly Review
Gold production
Group gold production for Q3 2026 totalled 696,000oz, a
decrease year-on-year from 768,000oz in Q3 2025. Excluding
Serra Grande, which produced 15,000oz in Q3 2025 and was
sold on 1 December 2025, there was an 8% year-on-year
decrease in gold production for the Group in Q3 2026 compared
to Q3 2025.
Siguiri (+19koz) recorded a significant year-on-year increase in
gold production in Q3 2026, overcoming the plant stoppage
experienced in Q3 2025 to address seepage on the TSF caused
by excessive rainfall. Cuiabá (+3koz) delivered a solid Q3 2026,
with total tonnes treated increasing by 3% year-on-year, whilst
Sunrise Dam (+3koz) increased recovered grade compared to
Q3 2025. Kibali (+5koz) had a strong performance in Q3 2026
with a 6% increase in recovered grade year-on-year attributable
to additional ore mined at Pamao and advanced mining at
Gorumbwa. Cerro Vanguardia (+1koz) remained largely
unchanged year-on-year.
Sukari (-28koz) recorded a year-on-year decline in gold
production, mainly reflecting a 34% decrease in recovered grade
alongside a high comparative baseline from Stage 5 open-pit
mining in Q3 2025. Mill feed was intentionally diversified toward
lower-grade development ore and surface inventory during a 30-
day safety-related underground operational pause, following the
tragic fatality at the mine in August 2026.
Iduapriem (-26koz) was impacted in Q3 2026 mainly due to
flooding from the nearby mine, affecting the mining of the high-
grade 2C pit, and a decrease in tonnes treated as a result of
major plant component change-outs.
At Obuasi (-18koz), gold production was lower year-on-year in
Q3 2026, primarily reflecting infrastructure constraints at the KMS
shaft, localised operational delays, and the implementation of
comprehensive underground safety and compliance protocols
initiated in Q2 2026. Operating momentum recovered significantly
in October 2026, positioning the mine to achieve an anticipated
annualised fourth-quarter production run rate of around 300,000
ounces.
Tropicana (-11koz) and Geita (-5koz) both recorded decreases in
Q3 2026 compared to Q3 2025 primarily due to the processing of
lower-grade ore.
Group gold production for YTD Sep 2026 totalled 2,164,000oz, a
6% decrease from 2,292,000oz in YTD Sep 2025. This year-on-
year reduction was driven primarily by decreases at Sukari,
Obuasi, Iduapriem, Sunrise Dam and Geita. Excluding Serra
Grande, which produced 42,000oz in YTD Sep 2025 and was
sold on 1 December 2025, there was a 4% year-on-year
decrease in gold production for the Group in YTD Sep 2026
compared to YTD Sep 2025.
Costs
Total cash costs per ounce* for the Group increased year-on-year
to $1,534/oz in Q3 2026, compared to $1,225/oz in Q3 2025. The
increase was driven primarily by market-related factors which
resulted in an estimated 15% year-on-year increase, in addition
to lower gold production which further elevated total cash costs
per ounce*.
Inflation, mainly driven by higher labour and mining contractor
costs, increased total cash costs per ounce* year-on-year by an
estimated 6%, reflecting consumer price index (“CPI”)
movements in the jurisdictions where the Group operates, in
addition to market-related increases in fuel prices which resulted
in an estimated 4% year-on-year increase in total cash costs per
ounce*. Higher royalty costs linked to the stronger average gold
price received per ounce* resulted in an estimated 4% year-on-
year increase in total cash costs per ounce*.
Managed operations recorded a year-on-year increase in total
cash costs per ounce*, rising from $1,244/oz in Q3 2025 to
$1,597/oz in Q3 2026. The impact of inflation from higher labour
and mining contractor costs, higher fuel prices, higher gold
royalties, and lower gold production from most of the managed
portfolio was partially offset by stronger year-on-year production
performances at Siguiri, Sunrise Dam and Cuiabá, as well as
higher by-product revenue at Cerro Vanguardia due to the higher
silver price received in Q3 2026.
Total cash costs per ounce* at the Group’s non-managed joint
ventures increased year-on-year to $1,117/oz in Q3 2026,
compared to $1,068/oz in Q3 2025. The increase was primarily
driven by higher labour, mining contractor, gold price-linked
royalty, and fuel costs at Kibali, partly offset by higher production
year-on-year.
All-in sustaining costs per ounce* (“AISC”) for the Group
increased year-on-year to $2,170/oz in Q3 2026, compared to
$1,720/oz in Q3 2025. At the managed operations, AISC per
ounce* increased year-on-year to $2,273/oz in Q3 2026, up from
$1,766/oz in Q3 2025, primarily due to higher operating costs and
sustaining capital expenditure*, and lower gold sales year-on-
year. AISC per ounce* at the non-managed joint ventures
increased year-on-year to $1,497/oz in Q3 2026, from $1,355/oz
in Q3 2025, mainly due to a year-on-year increase in total cash
costs per ounce* and higher sustaining capital expenditure*.
Total cash costs per ounce* for the Group increased year-on-year
to $1,467/oz for YTD Sep 2026, compared to $1,224/oz in YTD
Sep 2025. The increase was driven primarily by market-related
factors increasing costs by an estimated 16% year-on-year, in
addition to lower gold production which further increased total
a03cvsa_v11a.jpg
Cerro Vanguardia, Argentina
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9
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial and Operating Results continued
Quarterly Review
cash costs per ounce*, partially offset by higher by-product
revenue. Higher royalty costs linked to the stronger average gold
price received per ounce* resulted in an estimated 6% year-on-
year increase in total cash costs per ounce*. In addition, inflation
mainly driven by higher labour and mining contractor costs
increased total cash costs per ounce* year-on-year by an
estimated 4%, higher fuel prices resulted in an estimated 3%
year-on-year increase in total cash costs per ounce*, and a
stronger foreign currency exchange rate against the US dollar
resulted in an estimated 3% year-on-year increase in total cash
costs per ounce*.
Managed operations recorded year-on-year increase in total cash
costs per ounce*, rising from $1,233/oz in YTD Sep 2025 to
$1,483/oz in YTD Sep 2026. The impact of the market-driven
increases in total cash costs per ounce* and lower gold
production from Sukari, Obuasi, Iduapriem, Sunrise Dam and
Geita were partially offset by stronger year-on-year production
performances at Tropicana, Cuiabá and Siguiri, and higher by-
product revenue at Cerro Vanguardia due to the higher silver
price received in YTD Sep 2026.
Total cash costs per ounce* at the Group’s non-managed joint
ventures increased year-on-year to $1,334/oz for YTD Sep 2026,
compared to $1,145/oz in YTD Sep 2025. The increase was
primarily driven by the impact of higher labour, mining contractor,
gold price-linked royalties and fuel costs at Kibali.
AISC per ounce* for the Group increased year-on-year to $2,053/
oz for YTD Sep 2026, compared to $1,676/oz in YTD Sep 2025.
At the managed operations, AISC per ounce* increased year-on-
year to $2,104/oz in YTD Sep 2026, up from $1,706/oz in YTD
Sep 2025, primarily due to higher year-on-year total cash costs
per ounce* and sustaining capital expenditure*. AISC per ounce*
at the non-managed joint ventures increased year-on-year to
$1,628/oz in YTD Sep 2026, from $1,392/oz in YTD Sep 2025,
mainly due to year-on-year increases in total cash costs per
ounce* and sustaining capital expenditure*, partially offset by an
increase in gold sales at Kibali.
EBITDA*
Earnings before interest, tax, depreciation and amortisation*
(“EBITDA*”) for Q3 2026 increased to $1,568m, up from $1,400m
in Q3 2025. This strong year-on-year growth was mainly
underpinned by a higher average gold price received per ounce*,
higher by-product revenue, higher equity earnings from
associates and non-managed joint ventures, lower exploration
and evaluation costs, lower costs related to legacy TSFs and
lower Centamin integration costs.
These positive contributions were partially offset by lower gold
sales volumes, higher total operating costs (driven mainly by
increases in labour, mining contractor and fuel prices, and higher
royalty costs), higher corporate administration costs, and higher
foreign exchange and fair value adjustments.
EBITDA* for YTD Sep 2026 increased to $5,833m, up from
$3,749m in YTD Sep 2025. This strong year-on-year growth was
primarily driven by a higher average gold price received per
ounce*, higher by-product revenue, higher equity earnings from
associates and non-managed joint ventures, lower exploration
and evaluation costs, lower costs related to legacy TSFs and
mining contractor rate adjustments, and a premium received on
the repurchase of bonds.
These positive impacts were partially offset by higher total
operating costs including market-related increases in fuel prices,
higher royalty costs, and a stronger foreign currency exchange
rate against the US dollar, lower gold sales volumes, higher
corporate administration costs, and higher foreign exchange and
fair value adjustments. YTD Sep 2025 included an impairment
reversal for Serra Grande which was partially offset by a loss on
disposal relating to the sale of the Doropo and Archean-Birimian
Contact project.
Earnings
Basic earnings (profit attributable to equity shareholders) for Q3
2026 were $787m, or 154 US cents per share, compared to
$669m, or 132 US cents per share, in Q3 2025. The strong year-
on-year increase was largely driven by a higher average gold
price received per ounce*, higher by-product revenue, higher
equity earnings from associates and non-managed joint ventures,
lower exploration and evaluation costs, lower finance costs, lower
costs related to legacy TSFs, and lower Centamin integration
costs.
This increase in basic earnings was partly offset by lower gold
sales volumes, higher total operating costs (driven mainly by
increases in labour, mining contractor and fuel prices, and higher
royalty costs), higher corporate administration costs, higher
foreign exchange and fair value adjustments, and a higher tax
charge.
Basic earnings (profit attributable to equity shareholders) for YTD
Sep 2026 were $3,070m, or 603 US cents per share, compared
to $1,781m, or 350 US cents per share, in YTD Sep 2025. This
strong year-on-year growth was primarily driven by a higher
average gold price received per ounce*, higher by-product
revenue, higher equity earnings from associates and non-
managed joint ventures, lower exploration and evaluation costs,
lower costs related to legacy TSFs and mining contractor rate
adjustments, and a premium received on the repurchase of
bonds.
These positive impacts were partially offset by higher total
operating costs including market-related increases in fuel prices,
higher royalty costs, and a stronger foreign currency exchange
rate against the US dollar, lower gold sales volumes, higher
amortisation of assets, higher corporate administration costs,
higher foreign exchange and fair value adjustments, higher
finance costs and a higher tax charge. YTD Sep 2025 included
an impairment reversal for Serra Grande which was partially
offset by a loss on disposal relating to the sale of the Doropo and
Archean-Birimian Contact project.
Headline earnings‡ for Q3 2026 were $790m, or 155 US cents
per share, compared to $672m, or 132 US cents per share, in Q3
2025. The increase in headline earnings‡ reflects the same key
drivers that supported the rise in basic earnings during Q3 2026.
Headline earnings‡ for YTD Sep 2026 were $3,085m, or 606 US
cents per share, compared to $1,759m, or 346 US cents per
share, for YTD Sep 2025. The increase in headline earnings‡
reflects the same key drivers that supported the rise in basic
earnings during YTD Sep 2026.
In addition, headline earnings‡ excludes impairments, reversals
of impairment, asset derecognitions and losses (profits) on
disposal of assets and taxes thereon.
‡The financial measures “headline earnings (loss)” and “headline earnings
(loss) per share” are not calculated in accordance with IFRS® Accounting
Standards, but in accordance with the Headline Earnings Circular 1/2023,
issued by the South African Institute of Chartered Accountants (SAICA), at
the request of the Johannesburg Stock Exchange Limited (JSE). These
measures are required to be disclosed by the JSE Listings Requirements
and therefore do not constitute Non-GAAP financial measures for
purposes of the rules and regulations of the SEC applicable to the use and
disclosure of Non-GAAP financial measures.
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10
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial and Operating Results continued
Quarterly Review
Cash flow
Net cash inflow from operating activities reached $1,380m in Q3
2026 compared to $1,419m in Q3 2025. This performance was
underpinned by lower gold sales volumes from managed
operations, higher total operating costs and increased tax
payments, partially offset by a higher average gold price received
per ounce* and higher dividends received from joint ventures.
After accounting for capital expenditure, loan repayments from
Kibali, and distributions to non-controlling interests, the Company
generated a free cash inflow* of $722m in Q3 2026, compared to
$920m in Q3 2025.
Net cash inflow from operating activities was $4,521m for YTD
Sep 2026, a 43% increase year-on-year from $3,162m for YTD
Sep 2025. This strong performance was primarily driven by a
higher average gold price received per ounce* and higher
dividends received from joint ventures. These benefits were
partially offset by lower gold sales volumes from managed
operations, higher total operating costs, and increased tax
payments. After accounting for capital expenditure, loan
repayments from Kibali, distributions to non-controlling
shareholders, the Company generated a free cash inflow* of
$2,617m in YTD Sep 2026, compared to $1,858m in YTD Sep
2025.
The interim dividend for Q3 2026 is 71 US cents per share.
During Q3 2026, AngloGold Ashanti received $61m in dividends
from the Kibali joint venture, compared to $37m in dividends in
Q3 2025. The Company’s attributable share of outstanding cash
balances awaiting repatriation from the Democratic Republic of
the Congo (“DRC”) was $163m at 30 September 2026, up from
$60m at 30 June 2026.
a04tropicana_v13a.jpg
Tropicana, Australia
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11
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial and Operating Results continued
Quarterly Review
Free cash flow*
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
US Dollar millions, except as otherwise noted
2026
2025
2026
2025
Net cash flow from operating activities
1,380
1,419
4,521
3,162
Repayment of loans advanced to joint ventures
—
—
66
77
Distributions to non-controlling interests
(161)
(157)
(558)
(386)
Operating cash flow
1,219
1,262
4,029
2,853
Capital expenditure on tangible and intangible assets
(497)
(342)
(1,412)
(995)
Free cash flow*
722
920
2,617
1,858
*Refer to “Non-GAAP disclosure” for definitions and reconciliations.
Rounding of figures may result in computational discrepancies.
Balance sheet and liquidity
Net cash* at 30 September 2026 was $1,256m, despite the
payment of $530m in dividends during Q3 2026, compared to a
net cash* position of $991m at 30 June 2026.
At 30 September 2026, the balance sheet remained robust,
supported by significant available liquidity. This included the
undrawn $1.4bn multi-currency revolving credit facility (“RCF”),
and the undrawn $65m Siguiri RCF. The $488m Geita RCF was
fully drawn at 30 September 2026. AngloGold Ashanti held
approximately $3.1bn in cash and cash equivalents at 30
September 2026, bringing Group liquidity to approximately
$4.5bn at 30 September 2026.
Capital expenditure
During Q3 2026, sustaining capital expenditure* of the Group
increased year-on-year to $352m, compared to $281m in Q3
2025. Sustaining capital expenditure* at managed operations
rose year-on-year to $323m in Q3 2026, up from $255m in Q3
2025. This increase was primarily driven by increased capital
expenditure at Cuiabá, which included major projects such as the
Queiroz Plant and Full Asset Potential initiatives, alongside
increased Mineral Reserve development at Iduapriem and Geita.
At non-managed joint ventures, sustaining capital expenditure*
increased year-on-year to $29m in Q3 2026, from $26m in Q3
2025. This was primarily driven by Kibali's higher Mineral
Reserve development, partially offset by reduced underground
equipment purchases.
Non-sustaining capital expenditure* for the Group was $211m in
Q3 2026, an increase year-on-year from $107m in Q3 2025. At
managed operations, non-sustaining capital expenditure* rose by
100% year-on-year to $174m, from $87m in Q3 2025. This
increase was primarily driven by higher expenditure on growth
projects to advance North American initiatives, increased open pit
waste stripping at Sukari, and the construction of the Block 3 haul
road and TSF 1 reinforcement projects at Siguiri.
Non-managed joint ventures recorded a year-on-year increase in
non-sustaining capital expenditure* to $37m in
Q3 2026, from $20m in Q3 2025, mainly driven by higher
expenditure at Kibali on waste stripping for the Pamao deposition
and TSF projects.
During YTD Sep 2026, sustaining capital expenditure* of the
Group increased year-on-year to $989m, compared to $791m in
YTD Sep 2025. Sustaining capital expenditure* at managed
operations increased year-on-year to $927m in YTD Sep 2026,
up from $741m in YTD Sep 2025. This increase was primarily
driven by additional mining equipment and increased Mineral
Reserve development at Iduapriem, increased capital
expenditure at Cuiabá and Sukari including major projects such
as the Queiroz Plant and TSF2 lift 7, respectively. At non-
managed joint ventures, sustaining capital expenditure*
increased year-on-year to $62m in YTD Sep 2026, from $50m in
YTD Sep 2025, mainly reflecting higher expenditure at Kibali on
mining equipment and rebuilds to enhance both underground and
open-pit fleet availability.
Non-sustaining capital expenditure* for the Group was $590m in
YTD Sep 2026, an increase year-on-year from $314m in YTD
Sep 2025. At managed operations, non-sustaining capital
expenditure* increased year-on-year to $485m, from $254m in
YTD Sep 2025, largely due to higher expenditure on growth
projects linked to the progress of North American initiatives.
Additionally, Siguiri’s non-sustaining capital expenditure* rose
primarily due to higher TSF 1 expenditure and construction of the
Block 3 haul road, while the increase at Sukari was driven by
increased waste stripping.
Non-managed joint ventures recorded a year-on-year increase in
non-sustaining capital expenditure* to $105m in YTD Sep 2026,
from $60m in YTD Sep 2025. This increase was mainly driven by
higher expenditure at Kibali on Pamao deposition waste stripping,
TSF projects (CTSF 3 phases 1 & 2, and FTSF 2), and
underground equipment purchases, partially offset by lower
capital expenditure on the PV solar project.
*Refer to “Non-GAAP disclosure” for definitions and reconciliations.
a05geita_v4.jpg
Geita, Tanzania
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12
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Regions Financial and Operating Results
Quarter in review
Regional view
Africa region
neo_mapsxregionalreviewsxve.jpg
Notes
(a)Operated by Barrick Mining
Corporation (Barrick)
In the Africa region, managed operations’ gold production was
370,000oz at a total cash cost* of $1,560/oz in Q3 2026,
compared to 428,000oz at a total cash cost* of $1,154/oz in Q3
2025. Non-managed joint ventures’ gold production (on an
attributable basis) was 91,000oz at a total cash cost* of $1,117/
oz in Q3 2026, compared to 86,000oz at a total cash cost* of
$1,068/oz in Q3 2025.
Managed operations produced 1,200,000oz at a total cash cost*
of $1,473/oz in YTD Sep 2026, compared to 1,307,000oz at a
total cash cost* of $1,144/oz in YTD Sep 2025.
Non-managed joint ventures produced (on an attributable basis)
225,000oz at a total cash cost* of $1,334/oz in YTD Sep 2026,
compared to 224,000oz at a total cash cost* of $1,145/oz in YTD
Sep 2025.
In Ghana, at Iduapriem, gold production was 34,000oz at a total
cash cost* of $2,093/oz for Q3 2026, compared to 60,000oz at a
total cash cost* of $1,321/oz during Q3 2025. Gold production
decreased by 43% year-on-year in Q3 2026 compared to Q3
2025, mainly due to lower recovered grade from varied ore
supply and water ingress preventing access to high-grade ore,
alongside a decrease in tonnes treated caused by major plant
component change-outs. Total cash costs per ounce* increased
by 58% year-on-year in Q3 2026 compared to Q3 2025, primarily
driven by the impact of lower production and higher operating
costs, linked to increases in royalty rates, higher mining
contractor costs and a rise in fuel prices, partially offset by lower
stores costs and an increase in stripping costs capitalised.
Gold production was 125,000oz at a total cash cost* of $2,004/oz
for YTD Sep 2026, compared to 149,000oz at a total cash cost*
of $1,480/oz in YTD Sep 2025. Gold production decreased by
16% year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
largely due to limited high grade ore supply as a result of delay in
face advancement caused by water ingress, partly offset by a 6%
increase in tonnes treated year-on-year as a result of the 17-day
plant shutdown in YTD Sep 2025 to investigate and repair a tear
in the lining of the Beposo TSF.
Total cash costs per ounce* increased by 35% year-on-year in
YTD Sep 2026 compared to YTD Sep 2025, mainly driven by the
impact of lower production, increased royalties associated with
increased royalty rates and a stronger gold price, elevated fuel
prices, and higher labour and mining contractor costs, partially
offset by an increase in stripping costs capitalised and lower
stores costs.
At Obuasi, gold production was 51,000oz at a total cash cost* of
$1,881/oz for Q3 2026, compared to 69,000oz at a total cash
cost* of $1,331/oz during Q3 2025. Gold production decreased
by 26% year-on-year in Q3 2026 compared to Q3 2025, primarily
due to restricted access to high-grade stopes and operational
disruptions, including equipment breakdowns, operator
availability constraints, extensive rehabilitation, drilling rework
and pastefill delays. Total cash costs per ounce* increased by
41% year-on-year in Q3 2026 compared to Q3 2025, primarily
driven by the impact of lower production, increased royalties
linked to a stronger gold price, lower mining costs capitalised and
elevated fuel costs associated with higher diesel prices and
longer haulage distances due to constrained stope access,
partially offset by lower labour, mining contractor and engineering
material costs.
Gold production was 161,000oz at a total cash cost* of $1,766/oz
for YTD Sep 2026, compared to 194,000oz at a total cash cost*
of $1,306/oz in YTD Sep 2025. Gold production decreased by
17% year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to an operational disruption following a contractor
fatality in April 2026 that resulted in a temporary stoppage in Q2
2026, equipment breakdowns, and operator availability
constraints reducing underground ore delivery to the plant. Total
cash costs per ounce* increased by 35% year-on-year in YTD
Sep 2026 compared to YTD Sep 2025, mainly due to the impact
of lower production and higher operating costs associated with
increased royalties linked to a stronger gold price, higher fuel
costs associated with a rise in diesel prices and longer haulage
distances to access planned stopes, lower mining costs
capitalised and higher labour contractor costs, partially offset by
decreased engineering material and stores costs from reduced
maintenance activity.
In Guinea, at Siguiri, gold production was 58,000oz at a total
cash cost* of $2,302/oz for Q3 2026, compared to 39,000oz at a
total cash cost* of $2,331/oz in Q3 2025. Gold production
increased by 49% year-on-year in Q3 2026 compared to Q3
2025, mainly due to a 76% year-on-year increase in tonnes
treated, overcoming the 42-day plant stoppage experienced in
Q3 2025, which was to address seepage on the TSF caused by
excessive rainfall. Total cash costs per ounce* decreased
marginally by 1% year-on-year in Q3 2026 compared to Q3 2025,
mainly due to the impact of higher gold production, partly offset
by higher operating costs associated with elevated fuel prices,
higher engineering material and stores costs and increased
royalties associated with a stronger gold price.
Gold production was 211,000oz at a total cash cost* of $2,043/oz
for YTD Sep 2026, compared to 204,000oz at a total cash cost*
of $1,735/oz in YTD Sep 2025. Gold production increased by 3%
year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
largely due to a 9% year-on-year increase in tonnes treated,
overcoming the TSF-related plant stoppage experienced in Q3
2025. Total cash costs per ounce* increased by 18% year-on-
year in YTD Sep 2026 compared to YTD Sep 2025, mainly due to
higher operating costs associated with the depletion of ore
stockpiles, increased royalties linked to a stronger gold price,
higher fuel prices and increased labour, mining contractor and
material stores costs associated with increased maintenance
activity at the TSF.
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13
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Regions Financial and Operating Results continued
Quarter in review
In Tanzania, at Geita, gold production was 120,000oz at a total
cash cost* of $1,349/oz for Q3 2026, compared to 125,000oz at a
total cash cost* of $1,010/oz in Q3 2025. Gold production
decreased by 4% year-on-year in Q3 2026 compared to Q3
2025, mainly due to a 5% year-on-year decrease in head grade
(driven by 20% lower mined grades from Nyamulilima open pit),
partly offset by a 4% increase in underground mined grade, and
an increase in plant recoveries year-on-year (mainly due to the
stabilisation of the leaching train parameter controls). Total cash
costs per ounce* increased by 34% year-on-year in Q3 2026
compared to Q3 2025, mainly driven by the impact of lower
production, higher operating costs associated with revised mining
contractor rates, a rise in fuel prices, higher royalties linked to a
stronger gold price, and higher material stores costs.
Gold production was 364,000oz at a total cash cost* of $1,238/oz
for YTD Sep 2026, compared to 379,000oz at a total cash cost*
of $993/oz in YTD Sep 2025. Gold production decreased by 4%
year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to lower mined grades year-on-year from both open
pit and underground operations, partially offset by an increase in
tonnes treated from improved throughput rates and plant
availability year-on-year, with YTD Sep 2025 impacted by a ball
mill shutdown. Total cash costs per ounce* increased by 25%
year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to the impact of lower gold production and higher
operating costs linked to increased royalties associated with a
higher gold price, higher mining contractor rates, elevated fuel
prices, higher material stores costs, increased services costs to
support increased backfilling activities, and lower mining costs
capitalised, partially offset by a build-up of ore stockpile inventory
and lower labour costs.
In Egypt, at Sukari, gold production was 107,000oz at a total
cash cost* of $1,081/oz in Q3 2026, compared to 135,000oz at a
total cash cost* of $793/oz in Q3 2025. Gold production
decreased by 21% year-on-year in Q3 2026 compared to Q3
2025, primarily stemming from a 34% decrease in recovered
grade relative to Q3 2025, when production included increased
open pit ounces from Stage 5. The lower grade in Q3 2026 was
also impacted by a 30-day safety shutdown in the underground
mine following a fatality in August 2026, as well as the inclusion
of lower-grade material and lower-grade underground
development ore in the mill feed in Q3 2026. Total cash costs per
ounce* increased by 36% year-on-year in Q3 2026 compared to
Q3 2025, mainly due to the impact of lower gold production,
higher operating costs linked to revised mining contractor rates,
increased fuel prices and higher royalties linked to a stronger
gold price, partially offset by the benefit of higher mining costs
capitalised and lower services costs.
Gold production was 339,000oz at a total cash cost* of $1,039/oz
for YTD Sep 2026, compared to 381,000oz at a total cash cost*
of $765/oz in YTD Sep 2025. Gold production decreased by 11%
year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to lower mined grades from underground operations
year-on-year, partially offset by improved plant throughput driven
by increased ore delivery from underground operations and
improved plant availability year-on-year, as well as an increase in
heap leach tonnes placed. Total cash costs per ounce* increased
by 36% year-on-year in YTD Sep 2026 compared to YTD Sep
2025, mainly driven by the impact of lower gold production and
higher operating costs linked to an increase in mining contractor
rates, elevated fuel prices and higher material stores costs,
partially offset by the benefit of higher mining costs capitalised.
In the DRC, at Kibali, gold production (on an attributable basis)
was 91,000oz at a total cash cost* of $1,117/oz for Q3 2026,
compared to 86,000oz at a total cash cost* of $1,068/oz in Q3
2025. Gold production increased by 6% year-on-year in Q3 2026
compared to Q3 2025, mainly driven by a 6% increase in
recovered grade year-on-year attributable to additional ore mined
at Pamao and advanced mining at Gorumbwa. Total cash costs
per ounce* increased by 5% year-on-year in Q3 2026 compared
to Q3 2025, primarily driven by higher operating costs linked to
increased labour and mining contractor costs, higher services
costs, higher royalties linked to the elevated gold price, and
increased fuel prices, partially offset by the benefit of increased
production and higher mining costs capitalised.
Gold production (on an attributable basis) was 225,000oz at a
total cash cost* of $1,334/oz for YTD Sep 2026, compared to
224,000oz at a total cash cost* of $1,145/oz in YTD Sep 2025.
Gold production remained largely unchanged year-on-year in
YTD Sep 2026 compared to YTD Sep 2025, with a marginal
increase in recovered grade, partially offset by a marginal
decrease in tonnes treated. Total cash costs per ounce*
increased by 17% year-on-year in YTD Sep 2026 compared to
YTD Sep 2025, mainly driven by higher operating costs
associated with increased labour and mining contractor rates,
elevated fuel prices, and increased explosives material and
services costs, partially offset by lower stores costs and the
benefit of increased mining costs capitalised.
a07egypt_v6.jpg
Sukari, Egypt
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14
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Regions Financial and Operating Results continued
Quarter in review
Australia region
neo_mapsxregionalreviewsxvc.jpg
In the Australia region, gold production (on an attributable
basis) was 117,000oz at a total cash cost* of $2,164/oz in Q3
2026, compared to 125,000oz at a total cash cost* of $1,638/oz
in Q3 2025.
Gold production (on an attributable basis) was 387,000oz at a
total cash cost* of $1,899/oz in YTD Sep 2026, compared to
386,000oz at a total cash cost* of $1,564/oz in YTD Sep 2025.
At Sunrise Dam, gold production was 55,000oz at a total cash
cost* of $2,317/oz for Q3 2026, compared to 52,000oz at a total
cash cost* of $1,844/oz in Q3 2025. Gold production increased
by 6% year-on-year in Q3 2026 compared to Q3 2025, mainly
due to a 9% year-on-year increase in recovered grade, with a
higher proportion of underground ore in the mill feed.
Total cash costs per ounce* increased by 26% year-on-year in
Q3 2026 compared to Q3 2025, mainly due to higher operating
costs linked to higher mining and labour contractor costs
associated with increased underground mining activity, elevated
fuel prices, and increased stores and services costs due to
increased maintenance and repair activity, partially offset by the
benefit of higher gold production, and higher mining costs
capitalised.
Gold production was 156,000oz at a total cash cost* of $2,223/oz
for YTD Sep 2026, compared to 174,000oz at a total cash cost*
of $1,646/oz in YTD Sep 2025. Gold production decreased by
10% year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to lower mechanical availability, lower throughput and
recoveries and an increase in low grade stockpiles processed.
Total cash costs per ounce* increased by 35% year-on-year in
YTD Sep 2026 compared to YTD Sep 2025, mainly due to the
impact of lower gold production and higher operating costs driven
by increased mining and labour contractor rates, higher material
stores and services costs, and increased royalties associated
with a stronger gold price, partially offset by higher mining costs
capitalised.
At Tropicana, gold production (on an attributable basis) was
62,000oz at a total cash cost* of $1,854/oz in Q3 2026,
compared to 73,000oz at a total cash cost* of $1,364/oz in Q3
2025. Gold production decreased by 15% year-on-year in Q3
2026 compared to Q3 2025, primarily due to a planned higher
proportion of lower-grade stockpile ore being processed. Total
cash costs per ounce* increased by 36% year-on-year in Q3
2026 compared to Q3 2025, mainly due to the impact of lower
gold production, elevated fuel prices, and higher services, labour
and mining contractor costs, partially offset by the benefit of
higher mining costs capitalised.
Gold production (on an attributable basis) was 231,000oz at a
total cash cost* of $1,537/oz for YTD Sep 2026, compared to
212,000oz at a total cash cost* of $1,372/oz in YTD Sep 2025.
Gold production increased by 9% year-on-year in YTD Sep 2026
compared to YTD Sep 2025, mainly due to open pit recovered
grade increasing year-on-year from 1.01g/t to 1.20g/t, with a
greater proportion of open pit ore mined and processed
compared to YTD Sep 2025. Total cash costs per ounce*
increased by 12% year-on-year in YTD Sep 2026 compared to
YTD Sep 2025, mainly due to higher operating costs linked to
higher labour and mining contractor costs, higher services costs,
elevated fuel prices and increased royalties linked to a stronger
gold price, partially offset by the benefit of increased gold
production and higher mining costs capitalised.
a08tropicana2_v3.jpg
Tropicana, Australia
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15
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Regions Financial and Operating Results continued
Quarter in review
Americas region
neo_mapsxregionalreviewsxvd.jpg
Notes
(a)Previously the Expanded Silicon project, and includes the Silicon and Merlin deposits
(b)Includes the deposits of Reward, Bullfrog, Mother Lode, Crown Block
(SNA, Secret Pass and Daisy), and the Sterling mine
In the Americas region, gold production was 118,000oz at a
total cash cost* of $1,157/oz in Q3 2026, compared to 129,000oz
at a total cash cost* of $1,192/oz in Q3 2025 (including gold
production of 15,000oz for the Serra Grande operation, which
was sold on 1 December 2025).
Gold production was 352,000oz at a total cash cost* of $1,068/oz
in YTD Sep 2026, compared to 375,000oz at a total cash cost* of
$1,201/oz in YTD Sep 2025 (including gold production of
42,000oz for the Serra Grande operation, which was sold on
1 December 2025).
In Brazil, at Cuiabá (AGA Mineração), gold production was
74,000oz at a total cash cost* of $1,265/oz for Q3 2026,
compared to 71,000oz at a total cash cost* of $983/oz in Q3
2025.
Gold production is recorded upon refining and pouring at the
plant, together with the shipment of gold concentrate. Gold
production increased by 4% year-on-year in Q3 2026 compared
to Q3 2025, mainly driven by an increase in total tonnes treated,
as a result of a higher volume of concentrate ore mined. Total
cash costs per ounce* increased by 29% year-on-year for Q3
2026 compared to Q3 2025, mainly driven by increased labour
and reagent costs, higher services, engineering material and
stores costs linked to increased maintenance activities, elevated
fuel prices, and increased royalties linked to a higher gold price,
partially offset by the benefit of increased gold production.
Gold production was 213,000oz at a total cash cost* of $1,223/oz
for YTD Sep 2026, compared to 196,000oz at a total cash cost*
of $944/oz in YTD Sep 2025. Gold production increased by 9%
year-on-year in YTD Sep 2026 compared to YTD Sep 2025,
mainly due to an increase in concentrate ore tonnes mined from
underground operations, partially offset by a decrease in
recovered grade due to lower mined grades in YTD Sep 2026.
Total cash costs per ounce* increased by 30% year-on-year in
YTD Sep 2026 compared to YTD Sep 2025, mainly due to higher
operating costs linked to increases in engineering material,
reagents, labour and services costs due to increased
maintenance activity, and higher by-product processing costs due
to increased acid prices, partially offset by the benefit of higher
gold production.
In Argentina, at Cerro Vanguardia, gold production was
44,000oz at a total cash cost* of $974/oz during Q3 2026,
compared to 43,000oz at a total cash cost* of $1,139/oz in Q3
2025. Gold production marginally increased by 2% year-on-year
in Q3 2026 compared to Q3 2025, mainly due to an increase in
the recovered grade from underground operations. Total cash
costs per ounce* decreased by 14% year-on-year in Q3 2026
compared to Q3 2025, mainly due to increased by-product
revenue (due to a stronger silver price) and lower engineering
material and stores costs, partially offset by higher royalties
associated with stronger gold and silver prices, and higher
operating costs linked to increased labour and services costs.
Gold production was 139,000oz at a total cash cost* of $827/oz
for YTD Sep 2026, compared to 137,000oz at a total cash cost*
of $1,253/oz in YTD Sep 2025. Gold production marginally
increased by 1% year-on-year in YTD Sep 2026 compared to
YTD Sep 2025, mainly due to an increase in recovered grade
from underground operations. Total cash costs per ounce*
decreased by 34% year-on-year in YTD Sep 2026 compared to
YTD Sep 2025, mainly driven by higher by-product revenue (due
to a stronger silver price) and lower engineering material and
stores costs, partially offset by higher royalties linked to higher
gold and silver prices, elevated fuel prices and increases in
labour, reagents and services costs.
a09nevada2_v3.jpg
Nevada, United States of America
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16
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Corporate Update
Quarter in review
Corporate update
Issued share capital
As at 3 November 2026, the total issued ordinary share capital of
the Company consisted of 505,882,772 ordinary shares of $1.00
each. Each AngloGold Ashanti ordinary share carries one voting
right. The Company does not hold any of its ordinary shares in
treasury.
This figure may be used by AngloGold Ashanti shareholders to
determine whether they are required to notify their interest, or a
change to their interest, in the Company under its Articles of
Association or to comply with any other applicable laws and
regulations.
Update on proposed share repurchase
programme
On 23 July 2026, the Company’s shareholders approved the
previously announced proposed share repurchase programme
for AngloGold Ashanti’s ordinary shares of up to $2.0bn. The
applicable regulatory approvals have been obtained, with the final
approval from the South African Reserve Bank having been
received on 22 September 2026.
There can be no certainty as to whether the Company will
repurchase any of its ordinary shares, or as to the amount of any
such repurchases, or the prices at which such repurchases may
be made, or the exchanges on which such repurchases may be
made. The implementation of the proposed share repurchase
programme (including the timing, price and number of AngloGold
Ashanti ordinary shares repurchased) will depend on a number of
factors, such as the Company’s financial performance, availability
of cash flows, business and market conditions, and legal and
regulatory requirements, and will be subject to the Company’s
discretion. The proposed share repurchase programme does not
obligate AngloGold Ashanti to acquire any particular number of its
ordinary shares, and the proposed share repurchase programme
may be initiated, suspended or discontinued at any time without
prior notice.
Lake Carey project in Western Australia
On 22 September 2026, AngloGold Ashanti executed a revised
option agreement with Matsa Resources Limited (“Matsa”) over
certain specific tenements of Matsa’s Lake Carey project, near
Laverton in Western Australia. Those specific Lake Carey
tenements are south of AngloGold Ashanti’s Sunrise Dam
operation, and adjacent to the Company’s Corvette project.
Under the revised option agreement, the cash consideration for
those specific tenements was reduced to A$55m (US$39m), and
AngloGold Ashanti agreed to exercise its option early to acquire
those specific tenements.
The acquisition of those specific tenements was completed on
20 October 2026. The Lake Carey tenements not covered by the
revised option agreement remain with Matsa.
Guinea gold exports
In early October 2026, a presidential decree came into effect in
Guinea requiring all raw gold to be refined domestically prior to
export. The Company is engaging in discussions with the
Government of Guinea regarding the practicalities of the
implementation of this new legislation.
Systems update
The Company became aware on 16 October 2026 of
unauthorised activity involving certain AngloGold Ashanti
systems. The Company promptly responded to the activity and
believes that its containment measures have been successful. An
investigation of the incident is ongoing. Mining production has not
been impacted.
Change to Board of Directors
Effective 1 October 2026, Mr. Paul Graves joined AngloGold
Ashanti’s board of directors as an independent non-executive
director. Mr. Graves serves as a member of the Audit and Risk
Committee and the Social, Ethics and Sustainability Committee.
Exploration update
For detailed disclosure on the exploration work done for the
three months ended 30 September 2026, see the Exploration
Update document on the Company’s website at
www.anglogoldashanti.com on both brownfield and greenfield
exploration programmes.
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Iduapriem, Ghana
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17
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial Results
Income Statement
Group Income Statement
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
Revenue from product sales
2,619
2,417
8,959
6,825
Cost of sales
(1,316)
(1,225)
(4,010)
(3,597)
Gross profit
1,303
1,192
4,949
3,228
Corporate administration, marketing and related expenses
(50)
(32)
(139)
(93)
Exploration and evaluation costs
(52)
(72)
(149)
(177)
(Impairment) reversal of impairment, (derecognition of assets) and
profit (loss) on disposal
(3)
(3)
(14)
22
Other expenses
(14)
(62)
(77)
(186)
Finance income
38
43
111
114
Foreign exchange and fair value adjustments
(30)
(12)
(77)
(57)
Finance costs and unwinding of obligations
(51)
(81)
(179)
(166)
Share of associates’ and joint ventures’ profit (1)
121
84
446
147
Profit before taxation
1,262
1,057
4,871
2,832
Taxation
(335)
(242)
(1,290)
(669)
Profit for the period
927
815
3,581
2,163
Attributable to:
Equity shareholders
787
669
3,070
1,781
Non-controlling interests
140
146
511
382
927
815
3,581
2,163
Basic earnings per ordinary share (US cents) (2)
154
132
603
350
Diluted earnings per ordinary share (US cents) (3)
154
131
601
350
(1) The increase in share of associates and joint ventures’ profit is mainly due to increased profitability at Kibali.
(2) Calculated on the weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.
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18
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Financial Results
Statement of Financial Position
Group Statement of Financial Position
As at
As at
As at
Sep
Sep
Dec
2026
2025
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Reclassified (1)
Audited
ASSETS
Non-current assets
Tangible assets
9,100
8,456
8,515
Right of use assets
185
156
187
Intangible assets
111
105
106
Investments in associates and joint ventures
922
664
726
Other investments (2)
123
13
12
Loan receivable (3)
189
141
200
Inventories
240
170
175
Trade, other receivables and other assets
147
304
249
Contingent consideration
74
68
60
Reimbursive right for post-retirement benefits
54
58
51
Deferred taxation
120
115
106
Cash restricted for use
46
43
44
11,311
10,293
10,431
Current assets
Loan receivable (3)
47
269
133
Inventories
1,113
1,058
1,076
Trade, other receivables and other assets (1)
608
411
426
Contingent consideration
40
12
62
Cash restricted for use
29
24
23
Cash and cash equivalents
3,079
2,546
2,905
Assets held for sale (4)
—
223
22
4,916
4,543
4,647
Total assets
16,227
14,836
15,078
EQUITY AND LIABILITIES
Share capital and premium
574
552
554
Accumulated profit (loss) and other reserves
8,811
7,138
7,537
Shareholders’ equity
9,385
7,690
8,091
Non-controlling interests
1,778
1,864
1,825
Total equity
11,163
9,554
9,916
Non-current liabilities
Borrowings
1,558
2,025
2,025
Lease liabilities
165
126
155
Environmental rehabilitation and other provisions
665
751
687
Provision for pension and post-retirement benefits
65
65
61
Trade and other payables
14
5
14
Deferred taxation
670
550
600
3,137
3,522
3,542
Current liabilities
Borrowings
27
96
19
Lease liabilities
54
54
59
Environmental rehabilitation and other provisions
152
119
131
Trade and other payables
1,167
925
1,001
Taxation
508
453
377
Bank overdraft
19
14
23
Liabilities held for sale (4)
—
99
10
1,927
1,760
1,620
Total liabilities
5,064
5,282
5,162
Total equity and liabilities
16,227
14,836
15,078
(1)Current taxation asset, which was previously reported separately, is now reported as part of trade, other receivables and other assets. Comparative period has
been reclassified.
(2)The increase in non-current other investments is mainly due to the purchase of shares in Gold X2 Mining Inc. and Thesis Gold & Silver Inc. of $103m.
(3)The decrease in the loan receivable is mainly due to the loss on restructuring of the Kibali loan of $40m and repayments of $66m.
(4)The movement in assets and liabilities held for sale are due to the sale of Serra Grande in Q4 2025 and La Colosa in Q2 2026.
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19
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Financial Results
Statement of Cash Flows
Group Statement of Cash Flows
Quarter
Quarter
Nine
months
Nine
months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
Cash flows from operating activities
Cash generated from operations
1,493
1,457
5,289
3,507
Dividends received from joint ventures
61
37
251
55
Taxation refund
3
10
3
10
Taxation paid
(177)
(85)
(1,022)
(410)
Net cash inflow from operating activities
1,380
1,419
4,521
3,162
Cash flows from investing activities
Capital expenditure on tangible and intangible assets
(497)
(342)
(1,412)
(995)
Proceeds from disposal of tangible assets
—
—
1
—
Proceeds from disposal of subsidiary, net of cash disposed
—
—
9
25
Contingent consideration received
—
—
19
19
Other investments and assets acquired (1)
(36)
—
(103)
(3)
Proceeds on disposal of other investments
—
70
—
70
(Increase) decrease in cash restricted for use
(5)
(11)
(7)
(4)
Interest received
22
23
75
68
Repayment of loans advanced to joint ventures
—
—
66
77
Net cash outflow from investing activities
(516)
(260)
(1,352)
(743)
Cash flows from financing activities
Proceeds from borrowings
—
—
199
285
Repayment of borrowings
—
—
(650)
(180)
Repayment of lease liabilities
(21)
(23)
(66)
(69)
Finance costs – borrowings
(15)
(21)
(76)
(75)
Finance costs – leases
(5)
(4)
(14)
(12)
Other borrowing costs
—
—
(3)
—
Dividends paid to external shareholders and distributions to non-
controlling interests
(530)
(562)
(2,383)
(1,201)
Net cash outflow from financing activities
(571)
(610)
(2,993)
(1,252)
Net increase (decrease) in cash and cash equivalents
293
549
176
1,167
Translation
(2)
(11)
2
(20)
Reclassification to disposal group held for sale
—
8
—
(12)
Cash and cash equivalents at beginning of period (net of bank overdraft)
2,769
1,986
2,882
1,397
Cash and cash equivalents at end of period (net of bank overdraft)
3,060
2,532
3,060
2,532
(1)This relates to the purchase of shares in Gold X2 Mining Inc. and Thesis Gold & Silver Inc.
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20
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Segmental
Gold and by-product income
AngloGold Ashanti’s operating segments are being reported based on the financial information regularly provided to the Chief Executive
Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual members of the
Executive Committee are responsible for geographic regions of the business. Under the Group’s operating model, the financial results and
the composition of the operating segments are reported to the CODM per geographical region and the Projects segment which comprises
all the major non-sustaining capital projects with the potential to be developed into operating entities. In addition to the geographical
reportable segments structure, the Group has voluntarily disaggregated and disclosed the financial information on a line-by-line basis for
each mining operation to facilitate comparability of mine performance.
Gold Income
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
1,968
1,779
6,472
4,969
Kibali - Attributable 45%
394
294
1,048
711
Iduapriem
142
202
569
480
Obuasi
207
238
721
614
Siguiri
253
151
970
662
Geita
516
418
1,664
1,246
Sukari
456
476
1,500
1,256
AUSTRALIA
492
429
1,761
1,226
Sunrise Dam
230
176
706
542
Tropicana - Attributable 70%
262
253
1,055
684
AMERICAS
493
459
1,562
1,223
Cerro Vanguardia
182
169
638
464
AngloGold Ashanti Mineração (1)
311
236
924
623
Serra Grande
—
54
—
136
2,953
2,667
9,795
7,418
Equity-accounted joint venture included above
(394)
(294)
(1,048)
(711)
2,559
2,373
8,747
6,707
(1) Includes income from sale of gold concentrate.
By-product Revenue
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
4
3
14
8
Kibali - Attributable 45%
1
1
3
2
Obuasi
(1)
—
1
1
Siguiri
1
—
1
—
Geita
2
1
4
3
Sukari
1
1
5
2
AUSTRALIA
3
1
9
4
Sunrise Dam
1
—
3
1
Tropicana - Attributable 70%
2
1
6
3
AMERICAS
54
41
192
108
Cerro Vanguardia
49
36
177
94
AngloGold Ashanti Mineração
5
5
15
14
61
45
215
120
Equity-accounted joint venture included above
(1)
(1)
(3)
(2)
60
44
212
118
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21
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Segmental
Cost of sales and gross profit
Cost of Sales
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
921
841
2,801
2,477
Kibali - Attributable 45%
140
123
390
336
Iduapriem
92
115
312
316
Obuasi
112
118
345
320
Siguiri
157
118
490
418
Geita
211
170
629
520
Sukari
210
198
636
568
Administration and other
(1)
(1)
(1)
(1)
AUSTRALIA
298
249
897
724
Sunrise Dam
146
110
403
326
Tropicana - Attributable 70%
140
128
458
369
Administration and other
12
11
36
29
AMERICAS
238
261
702
728
Cerro Vanguardia
112
121
351
347
AngloGold Ashanti Mineração
125
100
350
271
Serra Grande
—
40
—
108
Administration and other
1
—
1
2
CORPORATE AND OTHER
(1)
(3)
—
4
1,456
1,348
4,400
3,933
Equity-accounted joint venture included above
(140)
(123)
(390)
(336)
1,316
1,225
4,010
3,597
Gross Profit (1)
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
1,052
940
3,686
2,499
Kibali - Attributable 45%
256
172
662
377
Iduapriem
50
87
257
163
Obuasi
95
120
377
295
Siguiri
97
33
481
244
Geita
306
249
1,039
729
Sukari
247
278
869
690
Administration and other
1
1
1
1
AUSTRALIA
197
182
873
507
Sunrise Dam
85
67
306
218
Tropicana - Attributable 70%
124
126
603
318
Administration and other
(12)
(11)
(36)
(29)
AMERICAS
309
239
1,052
603
Cerro Vanguardia
120
83
465
211
AngloGold Ashanti Mineração
191
141
589
366
Serra Grande
—
15
—
28
Administration and other
(2)
—
(2)
(2)
CORPORATE AND OTHER
1
3
—
(4)
1,559
1,364
5,611
3,605
Equity-accounted joint venture included above
(256)
(172)
(662)
(377)
1,303
1,192
4,949
3,228
(1) The Group’s segmental profit measure is gross profit, which excludes the results of associates and joint ventures. For the reconciliation of gross profit to profit for the
period, refer to the Group income statement.
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22
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Group Segmental
Amortisation and capital expenditure
Amortisation
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
235
235
689
663
Kibali - Attributable 45%
29
32
75
79
Iduapriem
25
29
59
85
Obuasi
20
24
60
66
Siguiri
18
13
44
46
Geita
46
48
158
129
Sukari
97
89
293
258
AUSTRALIA
45
46
154
122
Sunrise Dam
21
16
56
45
Tropicana - Attributable 70%
24
29
97
76
Administration and other
—
1
1
1
AMERICAS
43
57
123
156
Cerro Vanguardia
16
23
49
60
AngloGold Ashanti Mineração
27
26
74
74
Serra Grande
—
8
—
22
PROJECTS
1
—
1
—
North American projects
1
—
1
—
CORPORATE AND OTHER
—
1
3
3
324
339
970
944
Equity-accounted joint venture included above
(29)
(32)
(75)
(79)
295
307
895
865
Capital Expenditure
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
AFRICA
377
271
1,074
781
Kibali - Attributable 45%
66
46
167
110
Iduapriem
43
38
125
110
Obuasi
61
57
182
145
Siguiri
51
20
159
52
Geita
64
51
172
180
Sukari
92
59
269
184
AUSTRALIA
62
49
153
124
Sunrise Dam
22
28
72
58
Tropicana - Attributable 70%
40
21
81
66
AMERICAS
81
60
213
165
Cerro Vanguardia
16
12
63
43
AngloGold Ashanti Mineração
65
35
150
89
Serra Grande
—
13
—
33
PROJECTS
43
7
138
34
Colombian projects
1
2
3
12
North American projects
42
5
135
22
CORPORATE AND OTHER
—
1
1
1
563
388
1,579
1,105
Equity-accounted joint venture included above
(66)
(46)
(167)
(110)
497
342
1,412
995
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23
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Group Segmental
Total Assets
Total Assets
As at
As at
As at
Sep
Sep
Dec
2026
2025
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Audited
AFRICA
10,144
9,451
9,294
Kibali - Attributable 45%
1,051
1,008
981
Iduapriem
750
706
668
Obuasi
1,818
1,584
1,617
Siguiri
798
609
700
Geita
1,535
1,415
1,283
Sukari
4,180
4,119
4,034
Administration and other
12
10
11
AUSTRALIA
1,180
997
1,115
AMERICAS
1,952
1,834
1,712
Cerro Vanguardia
712
564
560
AngloGold Ashanti Mineração
1,046
1,029
1,080
Serra Grande
—
223
—
Administration and other
194
18
72
PROJECTS
1,109
929
975
Colombian projects
98
222
117
North American projects
1,011
707
858
CORPORATE AND OTHER
1,842
1,625
1,982
16,227
14,836
15,078
By order of the Board
J TILK
Chairman
A CALDERON
Chief Executive Officer
G DORAN
Chief Financial Officer
3 November 2026
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24
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Dividends
AngloGold Ashanti plc today announces an interim dividend for the three months ended 30 September 2026 of 71 US cents per share. In
respect of the interim dividend, the timelines, including dates for currency conversions, set out below will apply.
To holders of ordinary shares on the New York Stock Exchange (NYSE)
2026
Ex-dividend on NYSE
Friday, 27 November
Record date
Friday, 27 November
Payment date
Friday, 11 December
To holders of ordinary shares on the South African Register
Additional information for South African resident shareholders of AngloGold Ashanti:
Shareholders registered on the South African section of the register are advised that the distribution of 71 US cents per ordinary share will
be converted to South African rands at the applicable exchange rate.
In compliance with the requirements of Strate and the Johannesburg Stock Exchange (JSE) Listings Requirements, the salient dates for
payment of the dividend are as follows:
2026
Declaration date
Thursday, 5 November
Currency conversion rate for South African rands announcement date
Friday, 20 November
Last date to trade ordinary shares cum dividend
Tuesday, 24 November
Ordinary shares trade ex-dividend
Wednesday, 25 November
Record date
Friday, 27 November
Payment date
Friday, 11 December
Dividends in respect of dematerialised shareholdings will be credited to shareholders’ accounts with the relevant CSDP (as defined below)
or broker.
To comply with further requirements of Strate, share certificates may not be dematerialised or rematerialised between Wednesday, 25
November 2026 and Friday, 27 November 2026, both days inclusive. No transfers between South African, NYSE and Ghanaian share
registers will be permitted between Friday, 20 November 2026 and Friday, 27 November 2026, both days inclusive.
Details of the exchange rates applicable to the dividend and a summary of the tax considerations applicable to South African shareholders
is expected to be published on Friday, 20 November 2026.
To Beneficial Owners on the Ghana sub-register holding shares through the nominee arrangement
with the Central Securities Depositary (GH) LTD
2026
Currency conversion date
Friday, 20 November
Last date to trade and to register shares cum dividend
Tuesday, 24 November
Shares trade ex-dividend
Wednesday, 25 November
Record date
Friday, 27 November
Approximate payment date of dividend
Friday, 11 December
To Beneficial Owners holding Ghanaian Depositary Shares (GhDSs) and acting by National Trust
Holding Company Ltd as depository agent 100 GhDSs represent one ordinary share
2026
Currency conversion date
Friday, 20 November
Last date to trade and to register GhDSs cum dividend
Tuesday, 24 November
GhDSs trade ex-dividend
Wednesday, 25 November
Record date
Friday, 27 November
Approximate payment date of dividend
Friday, 11 December
Beneficial owners on the Ghana sub-register holding shares and beneficial owners holding GhDSs are advised that the distribution of 71
US cents per ordinary share will be converted to Ghanaian cedis at the applicable exchange rate. Assuming an exchange rate of
US$1/ ¢11.6600, the gross dividend payable per share, is equivalent to ca. ¢8.27860 Ghanaian cedis. However, the actual rate of payment
will depend on the exchange rate on the date for currency conversion.
Entitlement to interim dividends
A “Shareholder of Record” is a person appearing on the register of members of the Company in respect of ordinary shares at the close of
business on the relevant record date. A “Beneficial Owner” is a person who holds ordinary shares of the Company through a bank, broker,
central securities depository participant (“CSDP”), Shareholder of Record or other agent (sometimes referred to as holding shares “in
street name”).
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25
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Non-GAAP Disclosure Results
Non-GAAP Disclosure
From time to time AngloGold Ashanti may publicly disclose certain “Non-GAAP” financial measures in the course of its financial
presentations, earnings releases, earnings conference calls and otherwise.
In this document, AngloGold Ashanti presents the financial items “total cash costs”, “total cash costs per ounce”, “all-in sustaining costs”,
“all-in sustaining costs per ounce”, “average gold price received per ounce”, “total cash cost margin”, “sustaining capital expenditure” and
“non-sustaining capital expenditure”, which have been determined using industry guidelines and practices and are not measures under
IFRS. In addition, AngloGold Ashanti also presents the financial items “EBITDA”, “net debt (cash)” and “free cash flow” which are not
measures under IFRS either. An investor should not consider these items in isolation or as alternatives to cost of sales, gold income,
capital expenditure, profit (loss) for the period, total borrowings, cash flows from operating activities or any other measure of financial
performance presented in accordance with IFRS or as an indicator of the Group’s performance. The Group uses certain Non-GAAP
performance measures and ratios in managing the business and may provide users of this financial information with additional meaningful
comparisons between current results and results in prior operating periods. Non-GAAP financial measures should be viewed in addition to,
and not as an alternative to, the reported operating results or any other measure of performance prepared in accordance with IFRS. In
addition, the presentation of these measures may not be comparable to similarly titled measures that other companies use.
The term “managed operations” refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the
term “non-managed joint ventures” refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti’s share of
attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-
managed joint ventures are reported on an attributable basis.
All-in sustaining costs
During 2018, the World Gold Council (“WGC”), an industry body, published a revised Guidance Note on the “all-in sustaining costs” metric,
which gold mining companies can use to supplement their overall Non-GAAP disclosure. The WGC worked closely with its members
(including AngloGold Ashanti) to develop these Non-GAAP measures which are intended to provide further transparency into the full cost
associated with producing gold. It is expected that this metric, which AngloGold Ashanti provides herein, will be helpful to investors,
governments, local communities and other stakeholders in understanding the economics of gold mining.
“All-in sustaining costs” is a Non-GAAP measure which is an extension of the existing “total cash costs” metric and incorporates all costs
related to sustaining production and in particular, recognises sustaining capital expenditures associated with developing and maintaining
gold mines. In addition, this metric includes the cost associated with Corporate Office structures that support these operations, the
community and environmental rehabilitation costs attendant with responsible mining and any exploration and evaluation cost associated
with sustaining current operations. “All-in sustaining costs per ounce - managed operations” ($/oz) is calculated by dividing the
consolidated US dollar value of this cost metric by the consolidated ounces of gold sold. “All-in sustaining costs per ounce - non-managed
joint ventures” ($/oz) is calculated by dividing the attributable US dollar value of this cost metric by the attributable ounces of gold sold.
Total cash costs
“Total cash costs” is calculated in accordance with the guidelines of the Gold Institute industry standard and industry practice and is a Non-
GAAP measure. The Gold Institute, which has been incorporated into the National Mining Association, is a non-profit international
association of miners, refiners, bullion suppliers and manufacturers of gold products, which developed a uniform format for reporting total
cash costs on a per ounce basis. The guidance was first adopted in 1996 and revised in November 1999.
“Total cash costs” is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, include costs for all mining, processing,
mine-site administration costs, royalties and production taxes, as well as contributions from by-products, but exclude amortisation of
tangible, intangible and right of use assets, rehabilitation costs and other non-cash costs, retrenchment costs, corporate administration,
marketing and related costs, capital costs and exploration costs. “Total cash costs per ounce - managed operations” ($/oz) is calculated by
dividing the consolidated US dollar value of this cost metric by the consolidated ounces of gold produced. “Total cash costs per ounce -
non-managed joint ventures” ($/oz) is calculated by dividing the attributable US dollar value of this cost metric by the attributable ounces of
gold produced.
Average gold price received per ounce
“Average gold price received per ounce” is a Non-GAAP measure which gives an indication of revenue earned per ounce of gold sold and
serves as a benchmark of performance against the market spot gold price. “Average gold price received per ounce - managed operations”
is calculated by dividing the consolidated US dollar value of this revenue metric by the consolidated ounces of gold sold. “Average gold
price received per ounce - non-managed joint ventures” is calculated by dividing the attributable US dollar value of this revenue metric by
the attributable ounces of gold sold.
Total cash cost margin
“Total cash cost margin” is a Non-GAAP measure which gives an indication of profitability after covering total cash costs, representing the
difference between the average realised price of gold per ounce and the total cash costs per ounce required to produce it, expressed on a
percentage basis. “Total cash cost margin” is calculated by AngloGold Ashanti as “average gold price received per ounce” minus “total
cash costs per ounce”, divided by “average gold price received per ounce”, expressed on a percentage basis.
Sustaining capital expenditure
“Sustaining capital expenditure” is a Non-GAAP measure comprising capital expenditure incurred to sustain and maintain existing assets at
their current productive capacity in order to achieve constant planned levels of productive output and capital expenditure to extend useful
lives of existing production assets. This includes replacement of vehicles, plant and machinery, Mineral Reserve development, deferred
stripping and capital expenditure related to financial benefit initiatives, safety, health and the environment.
Non-sustaining capital expenditure
“Non-sustaining capital expenditure” is a Non-GAAP measure comprising capital expenditure incurred at new operations and capital
expenditure related to ‘major projects’ at existing operations where these projects will materially increase production.
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Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Non-GAAP Disclosure Results continued
While the Gold Institute provided definitions for the calculation of “total cash costs” and the WGC published a revised Guidance Note on
the “all-in sustaining costs” metric during 2018, the calculation of “total cash costs”, “total cash costs per ounce”, “all-in sustaining costs”
and “all-in sustaining costs per ounce” may vary significantly among gold mining companies, and by themselves do not necessarily provide
a basis for comparison with other gold mining companies.
However, AngloGold Ashanti believes that “total cash costs” and “all-in sustaining costs” in total by mine and per ounce by mine as well as
“average gold price received per ounce”, “sustaining capital expenditure” and “non-sustaining capital expenditure” are useful indicators to
investors and management as they provide:
•an indication of profitability, efficiency and cash flows;
•the trend in costs as the mining operations mature over time on a consistent basis; and
•an internal benchmark of performance to allow for comparison against other mines, both within the Group and at other gold mining
companies.
Management prepares its internal management reporting documentation, for use and decision making by the Chief Operating Decision
Maker (CODM), on a total basis.
The key metrics are based on the total ounces, gold income, “total cash costs”, “all-in sustaining costs”, “sustaining capital expenditure”
and “non-sustaining capital expenditure” from each operation and as a consequence includes AngloGold Ashanti’s share of the “total cash
costs”, “all-in sustaining costs”, “sustaining capital expenditure” and “non-sustaining capital expenditure” of its non-managed joint ventures
that are accounted for under the equity method. In a capital intensive industry, this basis allows management to make operating and
resource allocation decisions on a comparable basis between mining operations irrespective of whether they are consolidated or
accounted for under the equity method. This basis of calculating the metrics is consistent with the WGC’s Guidance Note on the “all-in
sustaining costs” metric.
Although AngloGold Ashanti has shareholder rights and board representation commensurate with its ownership interests in its equity-
accounted non-managed joint ventures and reviews the underlying operating results including “total cash costs”, “all-in sustaining costs”,
“sustaining capital expenditure” and “non-sustaining capital expenditure” with them at each reporting period, it does not have direct control
over their operations or resulting revenue and expenses, nor does it have a proportionate legal interest in each financial statement line
item. AngloGold Ashanti’s use of “total cash costs”, “all-in sustaining costs”, “sustaining capital expenditure” and “non-sustaining capital
expenditure” on a total basis, is not intended to imply that it has any such control or proportionate legal interest, but rather to reflect the
Non-GAAP measures on a basis consistent with its internal and external segmental reporting.
EBITDA
“EBITDA” is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, includes profit (loss) for the period, adding back
finance costs and unwinding of obligations, taxation, amortisation of tangible, right of use and intangible assets, and other amortisation,
less finance income for the period. 
To enhance comparability with industry peers, AngloGold Ashanti will present EBITDA, and will not further adjust this metric in its reporting.
Comparative periods will also reflect this change.
Net debt (cash)
“Net debt (cash)” is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, includes total borrowings less cash and
cash equivalents (net of bank overdraft).
To enhance comparability with industry peers, AngloGold Ashanti will present net debt (cash), and will not further adjust this metric in its
reporting. Comparative periods will also reflect this change.
Free cash flow
“Free cash flow" is a Non-GAAP measure and, as calculated and reported by AngloGold Ashanti, includes operating cash flow less capital
expenditure. Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures,
less distributions to non-controlling interests.
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Geita, Tanzania
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27
Q3 2026 EARNINGS RELEASE
AngloGold Ashanti plc
2026 | Quarter 3
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Non-GAAP Disclosure Results continued
Reconciliations
All-in sustaining costs and total cash costs per ounce (including total cash cost margin)
A reconciliation of cost of sales as included in AngloGold Ashanti’s Earnings Release for the three months and nine months ended 30
September 2026 and 30 September 2025, to “all-in sustaining costs”, “all-in sustaining costs per ounce”, “total cash costs” and “total cash
costs per ounce” for each of the three-month and nine-month periods ended 30 September 2026 and 30 September 2025, is presented on
a total (Group), total (managed operations/non-managed joint ventures) and segment basis in Note A below.
In addition, the Company has provided detail of the consolidated ounces of gold produced and sold by mine (for managed operations) and
the attributable ounces of gold produced and sold by mine (for non-managed joint ventures) for each of those periods below.
Average gold price received per ounce
A reconciliation of gold income as included in AngloGold Ashanti’s Earnings Release for the three months and nine months ended 30
September 2026 and 30 September 2025, to “average gold price received per ounce” for each of the three-month and nine-month periods
ended 30 September 2026 and 30 September 2025, is presented on a total (Group) and total (managed operations/non-managed joint
ventures) basis in Note B below.
Sustaining capital expenditure and non-sustaining capital expenditure
A reconciliation of capital expenditure as included in AngloGold Ashanti’s Earnings Release for the three months and nine months ended 
30 September 2026 and 30 September 2025, to “sustaining capital expenditure” and “non-sustaining capital expenditure” for each of the
three-month and nine-month periods ended 30 September 2026 and 30 September 2025, is presented on a total (Group), total (managed
operations/non-managed joint ventures) and segment basis in Note C below.
EBITDA
A reconciliation of profit (loss) for the period as included in AngloGold Ashanti’s Earnings Release for the three months and nine months
ended 30 September 2026 and 30 September 2025, to “EBITDA” for each of the three-month and nine-month periods ended 30
September 2026 and 30 September 2025, is presented on a total (Group) basis in Note D below.
Net debt (cash)
A reconciliation of total borrowings as included in AngloGold Ashanti’s Earnings Release as at 30 September 2026, 30 September 2025
and 31 December 2025 to “net debt (cash)” as at 30 September 2026, 30 September 2025 and 31 December 2025, is presented on a total
(Group) basis in Note E below.
Free cash flow
A reconciliation of net cash flow from operating activities as included in AngloGold Ashanti’s Earnings Release for the three months and
nine months ended 30 September 2026 and 30 September 2025, to “free cash flow” for each of the three-month and nine-month periods
ended 30 September 2026 and 30 September 2025, is presented on a total (Group) basis in Note F below.
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Cerro Vanguardia, Argentina
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28
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
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Non-GAAP Disclosure Note A
All-in sustaining costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2026
Corporate
and other(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
(1)
140
140
92
112
157
211
210
(1)
781
146
140
12
298
By-product revenue
—
(1)
(1)
—
1
(1)
(2)
(1)
—
(3)
(1)
(2)
—
(3)
Amortisation of tangible, intangible and right of use assets
—
(29)
(29)
(25)
(20)
(18)
(46)
(97)
—
(206)
(21)
(24)
—
(45)
Adjusted for decommissioning and inventory amortisation
—
—
—
—
—
—
—
—
—
—
—
1
—
1
Corporate administration, marketing and related expenses
50
—
—
—
—
—
—
—
—
—
—
—
—
—
Lease payment sustaining
—
1
1
2
—
1
5
1
—
9
3
6
—
9
Sustaining exploration and study costs
—
—
—
1
—
4
3
—
—
8
—
—
—
—
Total sustaining capital expenditure
—
29
29
41
45
24
64
45
—
219
17
18
—
35
All-in sustaining costs (5)
49
139
139
112
137
167
234
158
—
808
144
139
12
295
Gold sold - oz (000)
—
93
93
34
49
60
120
108
—
371
54
62
—
116
All-in sustaining costs per ounce - $/oz (1)
—
1,497
1,497
3,324
2,770
2,790
1,952
1,465
—
2,178
2,667
2,257
—
2,546
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
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29
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2026
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
112
125
1
238
—
140
1,316
1,456
By-product revenue
(49)
(5)
—
(54)
—
(1)
(60)
(61)
Amortisation of tangible, intangible and right of use assets
(16)
(27)
—
(43)
(1)
(29)
(295)
(324)
Adjusted for decommissioning and inventory amortisation
2
(1)
—
1
—
—
2
2
Corporate administration, marketing and related expenses
—
—
—
—
1
—
51
51
Lease payment sustaining
—
6
—
6
1
1
25
26
Sustaining exploration and study costs
2
1
—
3
—
—
11
11
Total sustaining capital expenditure
16
51
—
67
2
29
323
352
All-in sustaining costs (5)
67
150
—
217
4
139
1,373
1,512
Gold sold - oz (000)
43
74
—
117
—
93
604
697
All-in sustaining costs per ounce - $/oz (1)
1,562
2,008
—
1,846
—
1,497
2,273
2,170
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining
costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining
costs per ounce” and “total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
30
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2026
Corporate
and other(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
(1)
140
140
92
112
157
211
210
(1)
781
146
140
12
298
- By-product revenue
—
(1)
(1)
—
1
(1)
(2)
(1)
—
(3)
(1)
(2)
—
(3)
- Inventory change
—
(5)
(5)
2
4
(3)
1
2
—
6
2
1
—
3
- Amortisation of tangible assets
—
(29)
(29)
(23)
(20)
(17)
(37)
(96)
—
(193)
(19)
(19)
—
(38)
- Amortisation of right of use assets
—
—
—
(2)
—
(1)
(9)
(1)
—
(13)
(2)
(5)
—
(7)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
—
(2)
(2)
2
(1)
(2)
(1)
2
—
—
2
1
(1)
2
- Retrenchment costs
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Total cash costs (5)
(1)
102
102
72
96
133
162
116
(1)
578
128
116
11
255
Gold produced - oz (000)
—
91
91
34
51
58
120
107
—
370
55
62
—
117
Total cash costs per ounce - $/oz (1)
—
1,117
1,117
2,093
1,881
2,302
1,349
1,081
—
1,560
2,317
1,854
—
2,164
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
31
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2026
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
112
125
1
238
—
140
1,316
1,456
- By-product revenue
(49)
(5)
—
(54)
—
(1)
(60)
(61)
- Inventory change
—
(1)
—
(1)
—
(5)
8
3
- Amortisation of tangible assets
(16)
(22)
—
(38)
(1)
(29)
(270)
(299)
- Amortisation of right of use assets
—
(5)
—
(5)
—
—
(25)
(25)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
(4)
1
—
(3)
(1)
(2)
(2)
(4)
- Retrenchment costs
(1)
—
—
(1)
—
—
(1)
(1)
Total cash costs (5)
42
93
—
135
(1)
102
966
1,068
Gold produced - oz (000)
44
74
—
118
—
91
605
696
Total cash costs per ounce - $/oz (1)
974
1,265
—
1,157
—
1,117
1,597
1,534
Average gold price received per ounce - $/oz
4,248
4,238
4,239
Total cash cost margin - %
74%
62%
64%
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports
“all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold
produced in ounces. “All-in sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
32
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2025
Corporate
and other(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
(3)
123
123
115
118
118
170
198
(1)
718
110
128
11
249
By-product revenue
—
(1)
(1)
—
—
—
(1)
(1)
—
(2)
—
(1)
—
(1)
Amortisation of tangible, intangible and right of use assets
(1)
(32)
(32)
(29)
(24)
(13)
(48)
(89)
—
(203)
(16)
(29)
(1)
(46)
Adjusted for decommissioning and inventory amortisation
—
—
—
—
—
—
(1)
—
—
(1)
—
—
—
—
Corporate administration, marketing and related expenses
31
—
—
—
—
—
—
—
—
—
—
—
—
—
Lease payment sustaining
—
(2)
(2)
1
—
1
6
1
—
9
4
6
—
10
Sustaining exploration and study costs
—
—
—
—
—
3
3
—
—
6
—
—
—
—
Total sustaining capital expenditure
1
26
26
23
49
18
46
32
—
168
28
8
—
36
All-in sustaining costs (5)
28
114
114
110
144
126
175
141
(1)
695
125
113
10
248
Gold sold - oz (000)
—
84
84
58
68
45
120
135
—
426
51
73
—
124
All-in sustaining costs per ounce - $/oz (1)
—
1,355
1,355
1,902
2,109
2,804
1,464
1,041
—
1,631
2,439
1,558
—
2,007
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
33
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2025
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Serra Grande(6)
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
121
100
40
—
261
—
123
1,225
1,348
By-product revenue
(36)
(5)
—
—
(41)
—
(1)
(44)
(45)
Amortisation of tangible, intangible and right of use assets
(23)
(26)
(8)
—
(57)
—
(32)
(307)
(339)
Adjusted for decommissioning and inventory amortisation
2
—
1
—
3
—
—
2
2
Corporate administration, marketing and related expenses
—
—
—
—
—
1
—
32
32
Lease payment sustaining
—
6
2
—
8
—
(2)
27
25
Sustaining exploration and study costs
3
—
—
—
3
1
—
10
10
Total sustaining capital expenditure
12
25
13
—
50
—
26
255
281
All-in sustaining costs (5)
80
99
47
1
227
2
114
1,200
1,314
Gold sold - oz (000)
47
68
15
—
130
—
84
680
764
All-in sustaining costs per ounce - $/oz (1)
1,691
1,459
3,105
—
1,740
—
1,355
1,766
1,720
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in
sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in
sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
(6) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
34
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2025
Corporate
and other(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
(3)
123
123
115
118
118
170
198
(1)
718
110
128
11
249
- By-product revenue
—
(1)
(1)
—
—
—
(1)
(1)
—
(2)
—
(1)
—
(1)
- Inventory change
—
2
2
3
2
(12)
8
—
—
1
2
2
—
4
- Amortisation of tangible assets
(1)
(32)
(32)
(27)
(24)
(12)
(43)
(89)
—
(195)
(12)
(23)
(1)
(36)
- Amortisation of right of use assets
—
—
—
(2)
—
(1)
(5)
—
—
(8)
(4)
(6)
—
(10)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
—
—
—
(10)
(4)
(2)
(3)
(1)
—
(20)
—
—
—
—
- Retrenchment costs
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Total cash costs (5)
(4)
92
92
79
92
90
126
107
(1)
493
96
100
9
205
Gold produced - oz (000)
—
86
86
60
69
39
125
135
—
428
52
73
—
125
Total cash costs per ounce - $/oz (1)
—
1,068
1,068
1,321
1,331
2,331
1,010
793
—
1,154
1,844
1,364
—
1,638
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
35
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE QUARTER ENDED 30 SEPTEMBER 2025
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Serra Grande(6)
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
121
100
40
—
261
—
123
1,225
1,348
- By-product revenue
(36)
(5)
—
—
(41)
—
(1)
(44)
(45)
- Inventory change
(5)
1
1
—
(3)
—
2
2
4
- Amortisation of tangible assets
(23)
(21)
(6)
—
(50)
—
(32)
(282)
(314)
- Amortisation of right of use assets
—
(5)
(2)
—
(7)
—
—
(25)
(25)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
(8)
—
2
—
(6)
—
—
(26)
(26)
- Retrenchment costs
—
(1)
—
—
(1)
—
—
(1)
(1)
Total cash costs (5)
49
70
35
—
154
—
92
848
940
Gold produced - oz (000)
43
71
15
—
129
—
86
682
768
Total cash costs per ounce - $/oz (1)
1,139
983
2,253
—
1,192
—
1,068
1,244
1,225
Average gold price received per ounce - $/oz
3,502
3,488
3,490
Total cash cost margin - %
70%
64%
65%
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in
sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in
sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
(6) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
36
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE NINE  MONTHS ENDED 30 SEPTEMBER 2026
Corporate
and other
(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa
other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
—
390
390
312
345
490
629
636
(1)
2,411
403
458
36
897
By-product revenue
—
(3)
(3)
—
(1)
(1)
(4)
(5)
—
(11)
(3)
(6)
—
(9)
Amortisation of tangible, intangible and right of use assets
(3)
(75)
(75)
(59)
(60)
(44)
(158)
(293)
—
(614)
(56)
(97)
(1)
(154)
Adjusted for decommissioning and inventory amortisation
—
—
—
—
—
—
(1)
1
—
—
—
1
—
1
Corporate administration, marketing and related expenses
137
—
—
—
—
—
—
—
—
—
—
—
—
—
Lease payment sustaining
1
5
5
4
—
4
19
3
—
30
7
19
1
27
Sustaining exploration and study costs
—
—
—
2
—
9
7
—
—
18
1
1
—
2
Total sustaining capital expenditure
1
62
62
117
133
75
169
137
—
631
55
43
—
98
All-in sustaining costs (5)
137
379
379
376
418
532
660
478
—
2,464
407
419
36
862
Gold sold - oz (000)
—
233
233
125
159
214
367
331
—
1,196
156
232
—
388
All-in sustaining costs per ounce - $/oz (1)
—
1,628
1,628
2,998
2,631
2,483
1,800
1,444
—
2,060
2,616
1,806
—
2,224
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
37
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas
other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
351
350
1
702
—
390
4,010
4,400
By-product revenue
(177)
(15)
—
(192)
—
(3)
(212)
(215)
Amortisation of tangible, intangible and right of use assets
(49)
(74)
—
(123)
(1)
(75)
(895)
(970)
Adjusted for decommissioning and inventory amortisation
3
(1)
—
2
—
—
3
3
Corporate administration, marketing and related expenses
—
—
—
—
2
—
139
139
Lease payment sustaining
—
17
—
17
1
5
76
81
Sustaining exploration and study costs
2
1
—
3
1
—
24
24
Total sustaining capital expenditure
63
128
—
191
6
62
927
989
All-in sustaining costs (5)
192
406
1
599
10
379
4,072
4,451
Gold sold - oz (000)
140
211
—
351
—
233
1,935
2,168
All-in sustaining costs per ounce - $/oz (1)
1,372
1,923
—
1,704
—
1,628
2,104
2,053
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange
rate. AngloGold Ashanti reports “all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per
ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on
amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
38
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026
Corporate and
other (3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
—
390
390
312
345
490
629
636
(1)
2,411
403
458
36
897
- By-product revenue
—
(3)
(3)
—
(1)
(1)
(4)
(5)
—
(11)
(3)
(6)
—
(9)
- Inventory change
—
(10)
(10)
1
6
(5)
(11)
15
—
6
—
(1)
—
(1)
- Amortisation of tangible assets
(2)
(75)
(75)
(53)
(60)
(40)
(137)
(291)
—
(581)
(50)
(82)
—
(132)
- Amortisation of right of use assets
(1)
—
—
(6)
—
(4)
(21)
(1)
—
(32)
(6)
(15)
(1)
(22)
- Amortisation of intangible assets
—
—
—
—
—
—
—
(1)
—
(1)
—
—
—
—
- Rehabilitation and other non-cash costs
—
(1)
(1)
(3)
(6)
(8)
(4)
(2)
—
(23)
2
1
(2)
1
- Retrenchment costs
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Total cash costs (5)
(3)
300
300
251
284
431
452
352
(1)
1,769
346
355
33
734
Gold produced - oz (000)
—
225
225
125
161
211
364
339
—
1,200
156
231
—
387
Total cash costs per ounce - $/oz (1)
—
1,334
1,334
2,004
1,766
2,043
1,238
1,039
—
1,473
2,223
1,537
—
1,899
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
39
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas
other
Americas
Non-managed
joint ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
351
350
1
702
—
390
4,010
4,400
- By-product revenue
(177)
(15)
—
(192)
—
(3)
(212)
(215)
- Inventory change
(1)
1
—
—
—
(10)
5
(5)
- Amortisation of tangible assets
(49)
(60)
—
(109)
(1)
(75)
(825)
(900)
- Amortisation of right of use assets
—
(14)
—
(14)
—
—
(69)
(69)
- Amortisation of intangible assets
—
—
—
—
—
—
(1)
(1)
- Rehabilitation and other non-cash costs
(8)
(1)
—
(9)
(1)
(1)
(32)
(33)
- Retrenchment costs
(1)
(1)
—
(2)
—
—
(2)
(2)
Total cash costs (5)
115
260
1
376
(1)
300
2,875
3,175
Gold produced - oz (000)
139
213
—
352
—
225
1,939
2,164
Total cash costs per ounce - $/oz (1)
827
1,223
—
1,068
—
1,334
1,483
1,467
Average gold price received per ounce - $/oz
4,503
4,520
4,518
Total cash cost margin - %
70%
67%
68%
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange
rate. AngloGold Ashanti reports “all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per
ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on
amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
40
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025
Corporate
and other
(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
4
336
336
316
320
418
520
568
(1)
2,141
326
369
29
724
By-product revenue
—
(2)
(2)
—
(1)
—
(3)
(2)
—
(6)
(1)
(3)
—
(4)
Amortisation of tangible, intangible and right of use assets
(3)
(79)
(79)
(85)
(66)
(46)
(129)
(258)
—
(584)
(45)
(76)
(1)
(122)
Adjusted for decommissioning and inventory amortisation
—
—
—
—
—
—
(2)
—
—
(2)
1
—
—
1
Corporate administration, marketing and related expenses
91
—
—
—
—
—
—
—
—
—
—
—
—
—
Lease payment sustaining
1
(1)
(1)
3
—
4
17
2
—
26
11
16
1
28
Sustaining exploration and study costs
—
—
—
2
—
6
9
—
—
17
1
—
—
1
Total sustaining capital expenditure
1
50
50
62
127
49
166
101
—
505
58
22
—
80
All-in sustaining costs (5)
94
305
305
298
380
430
577
411
—
2,096
350
328
29
707
Gold sold - oz (000)
—
219
219
148
190
210
385
389
—
1,322
170
214
—
384
All-in sustaining costs per ounce - $/oz (1)
—
1,392
1,392
2,021
2,004
2,043
1,497
1,059
—
1,586
2,055
1,537
—
1,842
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
41
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
All-in sustaining costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Serra
Grande(6)
Americas
other
Americas
Non-managed
joint ventures
Managed
operations
Group
total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
347
271
108
2
728
—
336
3,597
3,933
By-product revenue
(94)
(14)
—
—
(108)
—
(2)
(118)
(120)
Amortisation of tangible, intangible and right of use assets
(60)
(74)
(22)
—
(156)
—
(79)
(865)
(944)
Adjusted for decommissioning and inventory amortisation
2
—
1
—
3
—
—
2
2
Corporate administration, marketing and related expenses
—
—
—
—
—
2
—
93
93
Lease payment sustaining
—
18
6
—
24
1
(1)
80
79
Sustaining exploration and study costs
4
—
—
—
4
1
—
23
23
Total sustaining capital expenditure
43
77
33
—
153
2
50
741
791
All-in sustaining costs (5)
243
278
126
2
649
6
305
3,552
3,857
Gold sold - oz (000)
143
193
41
—
377
—
219
2,083
2,302
All-in sustaining costs per ounce - $/oz (1)
1,695
1,438
3,051
—
1,719
—
1,392
1,706
1,676
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold
Ashanti reports “all-in sustaining costs per ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US
dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and “total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
(6) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
42
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025
Corporate
and other
(3)
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
4
336
336
316
320
418
520
568
(1)
2,141
326
369
29
724
- By-product revenue
—
(2)
(2)
—
(1)
—
(3)
(2)
—
(6)
(1)
(3)
—
(4)
- Inventory change
—
6
6
3
7
(13)
(5)
(13)
—
(21)
6
1
—
7
- Amortisation of tangible assets
(2)
(78)
(78)
(81)
(66)
(42)
(112)
(257)
—
(558)
(35)
(59)
—
(94)
- Amortisation of right of use assets
(1)
(1)
(1)
(4)
—
(4)
(17)
(1)
—
(26)
(10)
(17)
(1)
(28)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
—
(5)
(5)
(14)
(8)
(4)
(7)
(2)
—
(35)
—
—
(1)
(1)
- Retrenchment costs
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Total cash costs (5)
1
256
256
221
253
354
376
292
(1)
1,495
286
291
27
604
Gold produced - oz (000)
—
224
224
149
194
204
379
381
—
1,307
174
212
—
386
Total cash costs per ounce - $/oz (1)
—
1,145
1,145
1,480
1,306
1,735
993
765
—
1,144
1,646
1,372
—
1,564
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
Rounding of figures may result in computational discrepancies.
texta.jpg
43
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note A continued
Total cash costs
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025
AMERICAS
Projects
GROUP
Cerro Vanguardia
AngloGold
Ashanti
Mineração
Serra Grande(6)
Americas other
Americas
Non-managed joint
ventures
Managed
operations
Group total (4)
in US Dollar millions, except as otherwise noted
Cost of sales per segmental information (2)
347
271
108
2
728
—
336
3,597
3,933
- By-product revenue
(94)
(14)
—
—
(108)
—
(2)
(118)
(120)
- Inventory change
(7)
3
1
—
(3)
—
6
(17)
(11)
- Amortisation of tangible assets
(60)
(60)
(18)
—
(138)
—
(78)
(792)
(870)
- Amortisation of right of use assets
—
(14)
(4)
—
(18)
—
(1)
(73)
(74)
- Amortisation of intangible assets
—
—
—
—
—
—
—
—
—
- Rehabilitation and other non-cash costs
(13)
—
4
—
(9)
—
(5)
(45)
(50)
- Retrenchment costs
(1)
(1)
—
—
(2)
—
—
(2)
(2)
Total cash costs (5)
172
185
91
2
450
—
256
2,550
2,806
Gold produced - oz (000)
137
196
42
—
375
—
224
2,068
2,292
Total cash costs per ounce - $/oz (1)
1,253
944
2,184
—
1,201
—
1,145
1,233
1,224
Average gold price received per ounce - $/oz
3,240
3,220
3,222
Total cash cost margin - %
65%
62%
62%
(1) In addition to the operational performances of the mines, “all-in sustaining costs per ounce” and “total cash costs per ounce” are affected by fluctuations in the foreign currency exchange rate. AngloGold Ashanti reports “all-in sustaining costs per
ounce” calculated to the nearest US dollar amount and gold sold in ounces. AngloGold Ashanti reports “total cash costs per ounce” calculated to the nearest US dollar amount and gold produced in ounces. “All-in sustaining costs per ounce” and
“total cash costs per ounce” may not be calculated based on amounts presented in this table due to rounding.
(2) Refer to Segmental reporting.
(3) Corporate includes non-gold producing managed operations.
(4) Total including equity-accounted non-managed joint ventures.
(5) “Total cash costs” and “all-in sustaining costs” may not be calculated based on amounts presented in this table due to rounding.
(6) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
44
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note B
Quarter 3 and nine months | 2026 and 2025
Average gold price
received per ounce
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
Unaudited
Unaudited
Unaudited
Unaudited
US Dollar millions, except as otherwise noted
Managed
operations
Non-
managed
joint
ventures
Group
(Equity)
Managed
operations
Non-
managed
joint ventures
Group
(Equity)
Managed
operations
Non-
managed
joint
ventures
Group
(Equity)
Managed
operations
Non-managed
joint ventures
Group
(Equity)
Gold income per income statement
2,559
2,559
2,373
2,373
8,747
8,747
6,707
6,707
Associates’ and joint ventures’ share of
gold income
394
394
294
294
1,048
1,048
711
711
Gold income
2,559
394
2,953
2,373
294
2,667
8,747
1,048
9,795
6,707
711
7,418
Gold sold (oz 000) (1)
604
93
697
680
84
764
1,935
233
2,168
2,083
219
2,302
Average gold price received per ounce
- $/oz
4,238
4,248
4,239
3,488
3,502
3,490
4,520
4,503
4,518
3,220
3,240
3,222
(1) Includes gold sold of 15,000oz for Q3 2025 and 41,000oz for YTD Sep 2025 for the Serra Grande operation, which was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
45
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note C
Quarter 3 | 2026 and 2025
Capital expenditure
FOR THE QUARTER ENDED 30 SEPTEMBER 2026
Corporate
and other
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr.70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
—
29
29
41
45
24
64
45
—
219
17
18
—
35
Non-sustaining capital expenditure
—
37
37
2
16
27
—
47
—
92
5
22
—
27
Capital expenditure
—
66
66
43
61
51
64
92
—
311
22
40
—
62
Capital expenditure
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (1)
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
16
51
—
67
2
29
323
352
Non-sustaining capital expenditure
—
14
—
14
41
37
174
211
Capital expenditure
16
65
—
81
43
66
497
563
Capital expenditure
FOR THE QUARTER ENDED 30 SEPTEMBER 2025
Corporate
and other
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
1
26
26
23
49
18
46
32
—
168
28
8
—
36
Non-sustaining capital expenditure
—
20
20
15
8
2
5
27
—
57
—
13
—
13
Capital expenditure
1
46
46
38
57
20
51
59
—
225
28
21
—
49
Capital expenditure
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Serra Grande(2)
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (1)
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
12
25
13
—
50
—
26
255
281
Non-sustaining capital expenditure
—
10
—
—
10
7
20
87
107
Capital expenditure
12
35
13
—
60
7
46
342
388
(1)Total including equity-accounted non-managed joint ventures.
(2)Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
46
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note C continued
Nine months | 2026 and 2025
Capital expenditure
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026
Corporate
and other
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
1
62
62
117
133
75
169
137
—
631
55
43
—
98
Non-sustaining capital expenditure
—
105
105
8
49
84
3
132
—
276
17
38
—
55
Capital expenditure
1
167
167
125
182
159
172
269
—
907
72
81
—
153
Capital expenditure
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (1)
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
63
128
—
191
6
62
927
989
Non-sustaining capital expenditure
—
22
—
22
132
105
485
590
Capital expenditure
63
150
—
213
138
167
1,412
1,579
Capital expenditure
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025
Corporate
and other
AFRICA
AUSTRALIA
Kibali - Attr.
45%
Non-managed
joint ventures
Iduapriem
Obuasi
Siguiri
Geita
Sukari
Africa other
Managed
operations
Sunrise
Dam
Tropicana -
Attr. 70%
Australia
other
Australia
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
1
50
50
62
127
49
166
101
—
505
58
22
—
80
Non-sustaining capital expenditure
—
60
60
48
18
3
14
83
—
166
—
44
—
44
Capital expenditure
1
110
110
110
145
52
180
184
—
671
58
66
—
124
Capital expenditure
AMERICAS
Projects
GROUP
Cerro
Vanguardia
AngloGold
Ashanti
Mineração
Serra Grande(2)
Americas other
Americas
Non-managed
joint ventures
Managed
operations
Group total (1)
in US Dollar millions, except as otherwise noted
Sustaining capital expenditure
43
77
33
—
153
2
50
741
791
Non-sustaining capital expenditure
—
12
—
—
12
32
60
254
314
Capital expenditure
43
89
33
—
165
34
110
995
1,105
(1)Total including equity-accounted non-managed joint ventures.
(2)Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
47
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note D
EBITDA
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
EBITDA
Profit for the period
927
815
3,581
2,163
Add back:
Finance costs and unwinding of obligations
51
81
179
166
Finance income
(38)
(43)
(111)
(114)
Taxation
335
242
1,290
669
Amortisation of tangible, right of use and intangible assets
295
307
895
865
Other amortisation
(2)
(2)
(1)
—
EBITDA
1,568
1,400
5,833
3,749
Rounding of figures may result in computational discrepancies.
texta.jpg
48
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note E
Net cash (debt)
As at
As at
As at
Sep
Sep
Dec
2026
2025
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Borrowings - non-current portion
1,558
2,025
2,025
Borrowings - current portion
27
96
19
Lease liabilities - non-current portion
165
126
155
Lease liabilities - current portion
54
54
59
Total borrowings
1,804
2,301
2,258
Less cash and cash equivalents, net of bank overdraft
3,060
2,532
2,882
Net cash (debt)
1,256
231
624
Net cash (debt) to EBITDA ratio
0.16 :1
0.05:1
0.11:1
Total borrowings to profit for the period
0.39:1
0.87:1
0.71:1
Rounding of figures may result in computational discrepancies.
texta.jpg
49
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Non-GAAP Disclosure Note F
Free cash flow
Quarter
Quarter
Nine months
Nine months
ended
ended
ended
ended
Sep
Sep
Sep
Sep
2026
2025
2026
2025
US Dollar millions, except as otherwise noted
Unaudited
Unaudited
Unaudited
Unaudited
Net cash flow from operating activities (1)
1,380
1,419
4,521
3,162
Repayment of loans advanced to joint ventures
—
—
66
77
Distributions to non-controlling interests
(161)
(157)
(558)
(386)
Operating cash flow
1,219
1,262
4,029
2,853
Capital expenditure on tangible and intangible assets
(497)
(342)
(1,412)
(995)
Free cash flow
722
920
2,617
1,858
(1) Includes working capital movements as per table below.
(Increase) decrease in inventories
(64)
(54)
(107)
(35)
(Increase) decrease in trade receivables
(15)
5
(166)
(181)
(Decrease) increase in trade payables
124
155
157
14
Movement in working capital
45
106
(116)
(202)
Rounding of figures may result in computational discrepancies.
texta.jpg
50
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Other Information Exchange Rates
Exchange Rates
Sep
Sep
Dec
2026
2025
2025
Unaudited
Unaudited
Unaudited
ZAR/USD
Average for the year to date
16.36
18.11
17.86
Average for the quarter
16.28
17.63
17.10
Closing
16.42
17.25
16.56
AUD/USD
Average for the year to date
1.42
1.56
1.55
Average for the quarter
1.42
1.53
1.52
Closing
1.44
1.51
1.50
BRL/USD
Average for the year to date
5.15
5.65
5.59
Average for the quarter
5.14
5.45
5.39
Closing
5.18
5.32
5.50
ARS/USD
Average for the year to date
1,443.26
1,182.19
1,246.73
Average for the quarter
1,500.04
1,330.75
1,436.37
Closing
1,517.52
1,366.58
1,459.42
EGP/USD
Average for the year to date
50.53
49.78
49.19
Average for the quarter
50.66
48.61
47.45
Closing
51.89
47.80
47.65
texta.jpg
51
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Operating Results Operations at a glance
Quarter 3 2026 and 2025
Operations at a glance
FOR THE QUARTERS ENDED 30 SEPTEMBER 2026 AND 30 SEPTEMBER 2025
Gold production
oz (000)
Open pit treated
000 tonnes
Underground
milled / treated
000 tonnes
Other
milled / treated
000 tonnes
Open pit recovered
grade g/tonne
Underground
recovered grade
g/tonne
Other recovered
grade g/tonne
Total recovered
grade g/tonne
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
AFRICA Non-managed joint ventures
91
86
545
578
392
357
—
—
2.09
1.86
4.34
4.46
—
—
3.03
2.85
Kibali - Attr. 45% (1)
91
86
545
578
392
357
—
—
2.09
1.86
4.34
4.46
—
—
3.03
2.85
AFRICA Managed operations
370
428
7,756
6,687
1,313
1,344
688
—
0.84
1.17
3.77
4.02
0.31
—
1.18
1.66
Iduapriem
34
60
1,293
1,420
—
—
—
—
0.83
1.31
—
—
—
—
0.83
1.31
Obuasi
51
69
—
—
287
340
—
—
—
—
5.48
6.31
—
—
5.48
6.31
Siguiri (3)
58
39
2,961
1,686
—
—
—
—
0.61
0.72
—
—
—
—
0.61
0.72
Geita
120
125
558
640
797
715
—
—
1.77
2.46
3.45
3.23
—
—
2.76
2.87
Sukari (3)
107
135
2,944
2,941
229
289
688
—
0.89
1.07
2.71
3.27
0.31
—
0.86
1.31
AUSTRALIA
117
125
1,610
1,717
971
911
—
—
0.85
1.03
2.36
2.33
—
—
1.42
1.48
Sunrise Dam
55
52
372
425
591
561
—
—
1.10
1.03
2.21
2.10
—
—
1.78
1.64
Tropicana - Attr. 70%
62
73
1,238
1,292
380
350
—
—
0.77
1.03
2.60
2.71
—
—
1.20
1.39
AMERICAS
118
129
152
194
474
728
459
544
3.13
3.47
5.05
3.71
1.69
1.15
3.36
2.73
Cerro Vanguardia (3)
44
43
152
194
148
100
349
483
3.13
3.47
4.49
3.84
0.62
0.58
2.09
1.72
AngloGold Ashanti Mineração (2)
74
71
—
—
326
362
110
61
—
—
5.30
5.09
5.06
5.65
5.24
5.17
Serra Grande (4)
—
15
—
—
—
266
—
—
—
—
—
1.80
—
—
—
1.80
Managed operations
605
682
9,518
8,598
2,758
2,983
1,147
544
0.87
1.19
3.49
3.43
0.86
1.15
1.40
1.75
Non-managed joint ventures
91
86
545
578
392
357
—
—
2.09
1.86
4.34
4.46
—
—
3.03
2.85
Group total including equity-accounted non-
managed joint ventures
696
768
10,063
9,176
3,150
3,340
1,147
544
0.94
1.23
3.60
3.54
0.86
1.15
1.51
1.83
(1) Equity-accounted joint venture.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties.
(3) On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.
(4) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
52
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Financial Results Operations at a glance
Quarter 3 2026 and 2025
Operations at a glance
FOR THE QUARTERS ENDED 30 SEPTEMBER 2026 AND 30 SEPTEMBER 2025
Cost of sales
Gross profit
Total cash costs per
ounce*
All-in sustaining costs
per ounce*
Sustaining MRD /
Stripping capital
Other sustaining
capital
Non-sustaining capital*
$m
$m
$/oz
$/oz
$m
$m
$m
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
AFRICA Non-managed joint ventures
140
123
256
172
1,117
1,068
1,497
1,355
17
4
12
22
37
20
Kibali - Attr. 45% (1)
140
123
256
172
1,117
1,068
1,497
1,355
17
4
12
22
37
20
AFRICA Managed operations
781
718
796
768
1,560
1,154
2,178
1,631
112
89
107
79
92
57
Iduapriem
92
115
50
87
2,093
1,321
3,324
1,902
33
18
8
5
2
15
Obuasi
112
118
95
120
1,881
1,331
2,770
2,109
32
33
13
16
16
8
Siguiri (3)
157
118
97
33
2,302
2,331
2,790
2,804
2
3
22
15
27
2
Geita
211
170
306
249
1,349
1,010
1,952
1,464
36
22
28
24
—
5
Sukari (3)
210
198
247
278
1,081
793
1,465
1,041
9
13
36
19
47
27
Administration and other
(1)
(1)
1
1
—
—
—
—
—
—
—
—
—
—
AUSTRALIA
298
249
197
182
2,164
1,638
2,546
2,007
17
14
18
22
27
13
Sunrise Dam
146
110
85
67
2,317
1,844
2,667
2,439
9
12
8
16
5
—
Tropicana - Attr. 70%
140
128
124
126
1,854
1,364
2,257
1,558
8
2
10
6
22
13
Administration and other
12
11
(12)
(11)
—
—
—
—
—
—
—
—
—
—
AMERICAS
238
261
309
239
1,157
1,192
1,846
1,740
38
33
29
17
14
10
Cerro Vanguardia (3)
112
121
120
83
974
1,139
1,562
1,691
12
8
4
4
—
—
AngloGold Ashanti Mineração (2)
125
100
191
141
1,265
983
2,008
1,459
26
15
25
10
14
10
Serra Grande (4)
—
40
—
15
—
2,253
—
3,105
—
10
—
3
—
—
Administration and other
1
—
(2)
—
—
—
—
—
—
—
—
—
—
—
PROJECTS
—
—
—
—
—
—
—
—
—
—
2
—
41
7
Colombian projects
—
—
—
—
—
—
—
—
—
—
—
—
1
2
North American projects
—
—
—
—
—
—
—
—
—
—
2
—
40
5
CORPORATE AND OTHER
(1)
(3)
1
3
—
—
—
—
—
—
—
1
—
—
Managed operations
1,316
1,225
1,303
1,192
1,597
1,244
2,273
1,766
167
136
156
119
174
87
Non-managed joint ventures
140
123
256
172
1,117
1,068
1,497
1,355
17
4
12
22
37
20
Group total including equity-accounted non-
managed joint ventures
1,456
1,348
1,559
1,364
1,534
1,225
2,170
1,720
184
140
168
141
211
107
(1) Equity-accounted joint venture.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties.
(3) On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.
(4) Serra Grande was sold on 1 December 2025.
*  Refer to “Non-GAAP disclosure” for definitions and reconciliations.
Rounding of figures may result in computational discrepancies.
texta.jpg
53
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Operating Results Operations at a glance
Nine months 2026 and 2025
Operations at a glance
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026 AND 30 SEPTEMBER 2025
Gold production
oz (000)
Open pit treated
000 tonnes
Underground
milled / treated
000 tonnes
Other
milled / treated
000 tonnes
Open pit recovered
grade g/tonne
Underground
recovered grade
g/tonne
Other recovered
grade g/tonne
Total recovered
grade g/tonne
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
AFRICA Non-managed joint ventures
225
224
1,761
1,798
1,009
1,015
—
—
1.59
1.29
4.16
4.58
—
—
2.53
2.48
Kibali - Attr. 45% (1)
225
224
1,761
1,798
1,009
1,015
—
—
1.59
1.29
4.16
4.58
—
—
2.53
2.48
AFRICA Managed operations
1,200
1,307
22,676
21,566
3,975
3,770
1,958
190
0.94
1.08
3.92
4.42
0.32
0.34
1.31
1.59
Iduapriem
125
149
4,003
3,771
—
—
—
—
0.97
1.23
—
—
—
—
0.97
1.23
Obuasi
161
194
—
—
890
976
—
—
—
—
5.63
6.17
—
—
5.63
6.17
Siguiri (3)
211
204
8,529
7,792
—
—
—
—
0.77
0.81
—
—
—
—
0.77
0.81
Geita
364
379
1,815
1,828
2,220
1,965
—
—
1.97
2.31
3.49
3.84
—
—
2.81
3.11
Sukari (3)
339
381
8,329
8,175
865
829
1,958
190
0.88
1.00
3.24
3.73
0.32
0.34
0.95
1.29
AUSTRALIA
387
386
5,013
4,910
2,592
2,786
—
—
1.18
1.07
2.35
2.42
—
—
1.58
1.56
Sunrise Dam
156
174
1,193
1,089
1,613
1,794
—
—
1.13
1.28
2.16
2.23
—
—
1.72
1.87
Tropicana - Attr. 70%
231
212
3,820
3,821
979
992
—
—
1.20
1.01
2.66
2.76
—
—
1.50
1.37
AMERICAS
352
375
497
543
1,401
2,139
1,472
1,510
2.80
2.93
5.03
4.13
1.70
0.82
3.24
2.78
Cerro Vanguardia (3)
139
137
497
541
433
395
1,128
1,449
2.80
2.93
5.03
4.49
0.67
0.62
2.10
1.78
AngloGold Ashanti Mineração (2)
213
196
—
—
968
1,087
344
61
—
—
5.03
5.30
5.06
5.65
5.04
5.32
Serra Grande(4)
—
42
—
2
—
657
—
—
—
1.17
—
1.97
—
—
—
1.97
Managed operations
1,939
2,068
28,186
27,019
7,968
8,695
3,430
1,700
1.02
1.12
3.60
3.71
0.91
0.77
1.52
1.72
Non-managed joint ventures
225
224
1,761
1,798
1,009
1,015
—
—
1.59
1.29
4.16
4.58
—
—
2.53
2.48
Group total including equity-accounted non-
managed joint ventures
2,164
2,292
29,947
28,817
8,977
9,710
3,430
1,700
1.05
1.13
3.67
3.80
0.91
0.77
1.59
1.77
(1) Equity-accounted joint venture.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties.
(3) On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.
(4) Serra Grande was sold on 1 December 2025.
Rounding of figures may result in computational discrepancies.
texta.jpg
54
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Financial Results Operations at a glance
Nine months 2026 and 2025
Operations at a glance
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2026 AND 30 SEPTEMBER 2025
Cost of sales
Gross profit
Total cash costs per
ounce*
All-in sustaining costs
per ounce*
Sustaining MRD /
Stripping capital
Other sustaining
capital
Non-sustaining capital*
$m
$m
$/oz
$/oz
$m
$m
$m
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
Sep-26
Sep-25
AFRICA Non-managed joint ventures
390
336
662
377
1,334
1,145
1,628
1,392
30
14
32
36
105
60
Kibali - Attr. 45% (1)
390
336
662
377
1,334
1,145
1,628
1,392
30
14
32
36
105
60
AFRICA Managed operations
2,411
2,141
3,024
2,122
1,473
1,144
2,060
1,586
314
281
317
224
276
166
Iduapriem
312
316
257
163
2,004
1,480
2,998
2,021
99
52
18
10
8
48
Obuasi
345
320
377
295
1,766
1,306
2,631
2,004
79
91
54
36
49
18
Siguiri (3)
490
418
481
244
2,043
1,735
2,483
2,043
16
14
59
35
84
3
Geita
629
520
1,039
729
1,238
993
1,800
1,497
89
90
80
76
3
14
Sukari (3)
636
568
869
690
1,039
765
1,444
1,059
31
34
106
67
132
83
Administration and other
(1)
(1)
1
1
—
—
—
—
—
—
—
—
—
—
AUSTRALIA
897
724
873
507
1,899
1,564
2,224
1,842
54
31
44
49
55
44
Sunrise Dam
403
326
306
218
2,223
1,646
2,616
2,055
32
22
23
36
17
—
Tropicana - Attr. 70%
458
369
603
318
1,537
1,372
1,806
1,537
22
9
21
13
38
44
Administration and other
36
29
(36)
(29)
—
—
—
—
—
—
—
—
—
—
AMERICAS
702
728
1,052
603
1,068
1,201
1,704
1,719
112
106
79
47
22
12
Cerro Vanguardia (3)
351
347
465
211
827
1,253
1,372
1,695
41
22
22
21
—
—
AngloGold Ashanti Mineração (2)
350
271
589
366
1,223
944
1,923
1,438
71
58
57
19
22
12
Serra Grande(4)
—
108
—
28
—
2,184
—
3,051
—
26
—
7
—
—
Administration and other
1
2
(2)
(2)
—
—
—
—
—
—
—
—
—
—
PROJECTS
—
—
—
—
—
—
—
—
—
—
6
2
132
32
Colombian projects
—
—
—
—
—
—
—
—
—
—
—
—
3
12
North American projects
—
—
—
—
—
—
—
—
—
—
6
2
129
20
CORPORATE AND OTHER
—
4
—
(4)
—
—
—
—
—
—
1
1
—
—
Managed operations
4,010
3,597
4,949
3,228
1,483
1,233
2,104
1,706
480
418
447
323
485
254
Non-managed joint ventures
390
336
662
377
1,334
1,145
1,628
1,392
30
14
32
36
105
60
Group total including equity-accounted non-
managed joint ventures
4,400
3,933
5,611
3,605
1,467
1,224
2,053
1,676
510
432
479
359
590
314
(1) Equity-accounted joint venture.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties.
(3) On a consolidated basis. Siguiri, Sukari and Cerro Vanguardia are owned 85%, 50% and 92.50% by AngloGold Ashanti, respectively.
(4) Serra Grande was sold on 1 December 2025.
*  Refer to “Non-GAAP disclosure” for definitions and reconciliations.
Rounding of figures may result in computational discrepancies.
texta.jpg
55
Q3 2026 Earnings Release
AngloGold Ashanti plc
2026 | Quarter 3
lion_v3a.jpg
Administration and Corporate Information
AngloGold Ashanti plc
Incorporated in England & Wales
Registration No. 14654651
LEI No. 2138005YDSA7A82RNU96
Share codes:
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE: AU
JSE: ANG
A2X: ANG
GhSE (Shares): AGA
GhSE (GhDS): AAD
JSE Sponsor:
The Standard Bank of South Africa Limited
Auditors:
PricewaterhouseCoopers Inc.
PricewaterhouseCoopers LLP
Offices
Registered and Corporate
Third Floor, Hobhouse Court
Suffolk Street
London SW1Y 4HH
United Kingdom
Telephone: +44 (0) 203 968 3320
Global headquarters
6363 S. Fiddlers Green Circle, Suite 1000
Greenwood Village, CO 80111
United States of America
Telephone: +1 303 889 0700
Australia
Level 10, AMP Building,
140 St George’s Terrace
Perth, WA 6000
(PO Box Z5046, Perth WA 6831)
Australia
Telephone: +61 8 9425 4602
South Africa
112 Oxford Road
Houghton Estate,
Johannesburg, 2198
(Private Bag X 20, Rosebank, 2196)
South Africa
Telephone: +27 11 637 6000
Fax: +27 11 637 6624
Ghana
Gold House
Patrice Lumumba Road
(PO Box 2665)
Accra
Ghana
Telephone: +233 303 773400
Fax: +233 303 778155
Directors
Executive
Alberto Calderon (Chief Executive Officer)
Gillian Doran  (Chief Financial Officer)
Non-Executive
Jochen Tilk (Chair)
Kojo Busia
Bruce Cleaver
Alan Ferguson
Albert Garner
Paul Graves
Jinhee Magie
Nicky Newton-King
Marcus Randolph
Diana Sands
Company Secretary
Catherine Stead
Company secretarial e-mail
companysecretary@anglogoldashanti.com
Investor Relations contacts
Yatish Chowthee
Telephone: +27 11 637 6273
Mobile: +27 78 364 2080
E-mail: yrchowthee@aga.gold
Andrea Maxey
Telephone: +61 08 9425 4603
Mobile: +61 400 072 199
E-mail: amaxey@aga.gold
AngloGold Ashanti website
www.anglogoldashanti.com
Share Registrars
United States
Computershare Trust Company, N.A.
150 Royall Street
Suite 101
Canton, MA 02021
United States of America
Telephone US: 866-644-4127
Telephone non-US: +1-781-575-2906
Shareholder Online inquiries:
https://www-us.computershare.com/Investor/
#Contact
Website: www.computershare.com/
AngloGoldAshanti
South Africa
Computershare Investor Services (Pty) Limited
Rosebank Towers, 15 Biermann Avenue
Rosebank, 2196
(PO Box 61051, Marshalltown 2107)
South Africa
Telephone: 0861 100 950 (in SA)
Fax: +27 11 688 5218
E-mail: queries@computershare.co.za
Website: www.computershare.com
Ghana
Central Securities Depository (GH) LTD
4th Floor, Cedi House
PMB CT 465, Cantonments
Accra, Ghana
Telephone: +233 302 689313
Fax: +233 302 689315
Ghana depositary
NTHC Limited
18 Gamel Abdul Nasser Avenue
Ringway Estate
Accra, Ghana
Telephone: +233 302 235814/6
Fax: +233 302 229975
neomorphismcircle_webiconxa.jpg
AngloGold Ashanti posts information that may be important to investors on the main page of its website at
www.anglogoldashanti.com and under the “Investors” tab on the main page. This information is updated
periodically. AngloGold Ashanti intends to use its website as a means of disclosing material non-public
information to the public in a broad, non-exclusionary manner and for complying with its disclosure obligations.
Accordingly, investors should visit this website regularly to obtain important information about AngloGold
Ashanti, in addition to following its press releases, documents it files with, or furnishes to, the United States
Securities and Exchange Commission (SEC) and public conference calls and webcasts. No material on the
AngloGold Ashanti website forms any part of, or is incorporated by reference into, this document. References
herein to the AngloGold Ashanti website shall not be deemed to cause such incorporation.
PUBLISHED BY ANGLOGOLD ASHANTI
Forward-looking statements
Certain statements contained in this document, 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 Reserve 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, development and production projects as well as growth projects, 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 AngloGold
Ashanti’s annual report on Form 20-F for the financial year ended 31 December 2025 filed with the United States Securities and Exchange Commission (SEC). 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 hereof 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 communication may contain certain “Non-GAAP” financial measures. 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
                                                                    AngloGold Ashanti plc
Date: 5 November 2026
By:/s/ C STEAD
Name:C Stead
Title:Company Secretary

Source: View Original Filing on SEC EDGAR

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