RNS Number : 8971R

Anglo American PLC

06 March 2023

Anglo American plc

(the "Company")

Registered office: 17 Charterhouse Street, London EC1N 6RA

Registered number: 3564138 (incorporated in England and Wales)

Legal Entity Identifier: 549300S9XF92D1X8ME43

6 March 2023


In accordance with Listing Rule 9.6 and Disclosure Guidance and Transparency Rule ("DTR") 4.1, the Company announces that the following documents are today published on its website: www.angloamerican.com

   --      Integrated Annual Report for the year ended 31 December 2022 (the "2022 Annual Report") 
   --      Notice of the 2023 Annual General Meeting ("AGM") to be held on 26 April 2023 
   --      Sustainability Report 2022 
   --      Climate Change Report 2022 
   --      Ore Reserves and Mineral Resources Report 2022 
   --      Tax and Economic Contribution Report 2022 

The 2022 Annual Report, Notice of the 2023 AGM and the 2023 AGM proxy form ("Proxy Form") have been submitted to the Financial Conduct Authority via the National Storage Mechanism and will shortly be made available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The above mentioned documents (except for the Proxy Form) are available on our website at www.angloamerican.com/investors/annual-reporting and www.angloamerican.com/investors/shareholder-information/agm/agm2023 respectively, and will be posted to shareholders on 24 March 2023. Shareholders can obtain additional copies of the Proxy Form from our Registrar, Equiniti Limited at Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA or view online at www.shareview.co.uk .

This announcement should be read in conjunction with the Company's Preliminary Results announcement issued on 23 February 2023. Together these constitute the material required by DTR 6.3.5 to be communicated to the media in full unedited text through a Regulatory Information Service. This material is not a substitute for reading the Company's 2022 Annual Report. Page references and references to notes to the financial statements, refer to those contained in the 2022 Annual Report.

An indication of the important events that occurred in 2022 and their impact on the consolidated financial statements and the consolidated financial statements themselves were announced to the London Stock Exchange on 23 February 2023, forming part of the Preliminary Results announcement for the year ended 31 December 2022. Additional content forming part of the management report are set out in the appendices to this announcement.

AGM Timetable

In accordance with JSE Listing Requirement 18.20 the Company confirms the following dates in respect of its AGM which will be held at The Queen Elizabeth II Centre, Broad Sanctuary, Westminster, London SW1P 3EE, and virtually via the Lumi platform on Wednesday, 26 April 2023 at 11:00 UK time.

 AGM Date 
                                               Wednesday, 26 April 2023 
 Record date - to determine which 
  shareholders were entitled to                Friday, 24 February 2023 
  receive the notice of meeting 
 Notice of Meeting Publication 
  date                                         Monday, 6 March 2023 
 Last day to trade to determine              Wednesday, 19 April 2023 (for 
  eligible shareholders that may              South Africa shareholders) 
  attend, speak and vote at the 
  Meeting                                     Thursday, 20 April 2023 (for 
                                              UK shareholders) 
 Record date - to determine eligible         Monday 24 April 2023 at 18:30 
  shareholders that may attend,               UK time 
  speak and vote at the meeting 
 Meeting deadline date (for administrative   Monday 24 April 2023 at 11:00 
  purposes, forms of proxy for                UK time or 12:00 South African 
  the meeting to be lodged)                   time 
 Results of meeting released                 As soon as practicable after 
                                              the conclusion of the AGM 

Clare Davage

Deputy Company Secretary

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers - safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel - with crop nutrients in development - we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.

Forward-looking statements and third-party information

This document includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, those regarding Anglo American's financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations, prospects and projects (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserve and Mineral Resource positions) and sustainability performance related (including environmental, social and governance) goals, ambitions, targets, visions, milestones and aspirations, are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, unanticipated downturns in business relationships with customers or their purchases from Anglo American, mineral resource exploration and project development capabilities and delivery, recovery rates and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the impact of attacks from third parties on our information systems, natural catastrophes or adverse geological conditions, climate change and extreme weather events, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to obtain key inputs in a timely manner, the ability to produce and transport products profitably, the availability of necessary infrastructure (including transportation) services, the development, efficacy and adoption of new or competing technology, challenges in realising resource estimates or discovering new economic mineralisation, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, liquidity and counterparty risks, the effects of inflation, terrorism, war, conflict, political or civil unrest, uncertainty, tensions and disputes and economic and financial conditions around the world, evolving societal and stakeholder requirements and expectations, shortages of skilled employees, unexpected difficulties relating to acquisitions or divestitures, competitive pressures and the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this document. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South

Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share. Certain statistical and other information about Anglo American included in this document is sourced from publicly available third-party sources. As such it has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.

APPIX A - Principal risks

We define a principal risk as a risk or combination of risks that would threaten the business model, future performance, solvency or liquidity of Anglo American. In addition to these principal risks, we

continue to be exposed to other risks related to currency, inflation, community relations, environment, litigation and regulatory proceedings, changing societal expectations, infrastructure and human resources. These risks are subject to our normal procedures to identify, implement and oversee appropriate mitigation actions, supported by internal audit work to provide assurance over the status of controls or mitigating actions. These principal risks are considered over the next three years as a

minimum, but we recognise that many of them will be relevant for a longer period.

For more on Principal risks see pages 69 - 73

Catastrophic risks

We also face certain risks that we deem catastrophic risks. These are very high severity, very low likelihood events that could result in multiple fatalities or injuries, an unplanned fundamental change to strategy or the way we operate, and have significant financial consequences. We do not consider likelihood when assessing these risks, as the potential impacts mean these risks must be treated as a priority. Catastrophic risks are included as principal risks.

For more on catastrophic risks see page 69

Risk appetite

We define risk appetite as 'the nature and extent of risk Anglo American is willing to accept in relation to the pursuit of its objectives'. We look at risk appetite from the context of severity of the consequences should the risk materialise, any relevant internal or external factors influencing the risk, and the status of management actions to mitigate or control the risk. A scale is used to help determine the limit of appetite for each risk, recognising that risk appetite will change over time.

If a risk exceeds appetite, it will threaten the achievement of objectives and may require a change to strategy. Risks that are approaching the limit of the Group's risk appetite may require management actions to be accelerated or enhanced to ensure the risks remain within appetite levels.

For catastrophic and operational risks, our risk appetite for exceptions or deficiencies in the status of our controls that have safety implications is very low. Our internal audit programme evaluates these controls with technical experts at operations and the results of that audit work will determine the risk appetite evaluation, along with the management response to any issues identified.

For more on the risk management and internal control systems and the review of their effectiveness See pages 157-159


Our risk profile evolved in 2022, mainly due to external factors. Macro-economic uncertainty increased as a result of the Russia's invasion of Ukraine, global inflation and economic slowdowns in key markets. The regulatory environment in which we operate remains impacted by political and societal changes in key countries, which could affect future production and delay the deployment of new technologies to support future production and sustainability objectives. Operationally, we have identified reliance on third-party infrastructure and power supply as a heightened risk, particularly in South Africa. Climate change remains one of the defining challenges of our era and our unequivocal commitment to being part of the global response presents both opportunities and risks. A number of our principal risks are directly or indirectly related to climate change and our strategies to reduce its impact on our business, and the planet.

Our catastrophic risks are the highest priority risks, given the potential consequences.

 1. Catastrophic risks 
 We are exposed to                 Impact: Multiple                  Risk appetite: Operating 
  the following risks               fatalities and injuries,          within the limits 
  we deem as potentially            damage to assets,                 of our appetite. 
  catastrophic: tailings            environmental damage, 
  dam failure; geotechnical         production loss, reputational     Commentary: These 
  failure; mineshaft                damage and loss of                very high impact but 
  failure; and fire                 licence to operate.               very low frequency 
  and explosion.                    Financial costs                   risks are treated 
                                    associated with recovery          with the highest priority. 
  Root cause: Any of                and liability claims 
  these risks may result            may be 
  from inadequate                   significant. Regulatory 
  design or construction,           issues may result 
  adverse geological                and community 
  conditions,                       relations may be affected. 
  shortcomings in operational 
  performance, natural              Mitigation: Technical 
  events                            standards exist that 
  such as seismic activity          provide 
  or flooding, and failure          minimum criteria for 
  of structures or machinery        design and operational 
  and equipment                     performance 
                                    requirements, the 
                                    implementation of 
                                    which is regularly 
                                    inspected by technical 
                                    experts. Additional 
                                    assurance work is 
                                    conducted to assess 
                                    the adequacy of controls 
                                    associated with these 
                                  --------------------------------  ------------------------------- 
 2. Product prices 
 Global macro-economic             Impact : Low product              Risk appetite: Operating 
  conditions leading                prices can result                 within the limits 
  to sustained low product          in lower levels of                of our appetite. 
  prices and/or volatility.         cash flow, profitability 
                                    and valuation. Debt               Commentary: Macro-economic 
  Root cause: Factors               costs may rise                    conditions remain 
  that could contribute             owing to ratings agency           uncertain; that may 
  to this risk include              downgrades and the                result in price volatility 
  a deep and protracted             possibility                       in the products 
  slowdown in economic              of restricted access              mined, and marketed, 
  growth,                           to funding. The Group             by Anglo American. 
  armed conflict involving          may be unable 
  major world powers,               to complete any divestment 
  trade war                         programme within the 
  between major economies           desired 
  and a disrupted recovery          timescales or achieve 
  from                              expected values. The 
  the Covid-19 pandemic             capacity to invest 
  as a result of new                in growth projects 
  variants being                    is constrained during 
  resistant to vaccines.            periods 
                                    of low product prices 
                                    - which may, in turn, 
                                    affect future 
                                    Mitigation: Maintaining 
                                    a conservative balance 
                                    sheet and proactive 
                                    management of debt 
                                    facilities and the 
                                    of cash improvement 
                                    and operational performance 
                                    targets are the key 
                                    mitigation strategies 
                                    for this risk. 
                                    Regular updates of 
                                    economic analysis 
                                    and product price 
                                    assumptions are discussed 
                                    with executive management 
                                    and the Board. 
                                  --------------------------------  ------------------------------- 
 3. Cyber security 
 Loss or harm to our               Impact: Theft or                  Risk appetite: Operating 
  technical infrastructure          loss of intellectual              within the limits 
  and the use of technology         property, financial               of our appetite. 
  within the organisation           losses, increased 
  from malicious or                 costs, reputational               Commentary: During 
  unintentional sources.            damage, operational               2022, we further strengthened 
                                    disruption and compromise         our 
  Root cause: Attacks               of safety systems.                control environment. 
  motivated by fraud,                                                 Our controls responded 
  ransomware, and/                  Mitigation: We have               as planned 
  or access to sensitive            a dedicated Global                and no cyber attack 
  data or information.              Information                       attempt resulted in 
                                    Management Security               negative impacts 
                                    team with appropriate             for Anglo American. 
                                    third-party support 
                                    to oversee our network 
                                    security. We 
                                    have aligned to the 
                                    internationally recognised 
                                    NIST Cyber Security 
                                    Framework, as well 
                                    as ISO27001 in sensitive 
                                    areas. Additionally, 
                                    we employ the IRAM2 
                                    risk assessment 
                                    methodology to large 
                                    scale projects and 
                                    maintain an 
                                    ongoing cyber awareness 
                                    programme across the 
                                  --------------------------------  ------------------------------- 
 4. Political 
 Global, regional                  Impact: Global supply             Risk appetite: Operating 
  and                               chains may be impacted            within the limits 
  national political                by the                            of our appetite. 
  tensions and disputes             threat of or actual 
  may negatively impact             disputes between major            Commentary: Global 
  our business.                     economies.                        economic conditions 
                                    Regional and national             can have a significant 
  Root cause: Geopolitical          political tensions                impact on countries 
  disputes between major            may result in                     whose economies are 
  economic countries,               social unrest affecting           exposed to commodities, 
  regional and national             our operations and                placing greater pressure 
  political                         employees.                        on 
  tensions. The effectiveness       Uncertainty over future           governments to find 
  of national governance            business conditions               alternative means 
  in                                leads to a lack of                of raising revenues, 
  countries in which                confidence in making              and increasing the 
  we operate may be                 investment decisions,             risk of social and 
  compromised                       which can influence               labour unrest. 
  by corruption, weak               future financial performance. 
  policy framework and              Increased costs 
  ineffective                       can be incurred through 
  enforcement of the                additional regulations 
  law.                              or resource taxes, 
                                    while the ability 
                                    to execute strategic 
                                    initiatives that reduce 
                                    costs or divest assets 
                                    may also be restricted, 
                                    all of which may reduce 
                                    profitability and 
                                    affect future 
                                    performance. These 
                                    may adversely affect 
                                    the Group's 
                                    operations or performance 
                                    of those operations. 
                                    Mitigation: Anglo 
                                    American has an active 
                                    strategy with governments, 
                                    regulators and other 
                                    stakeholders within 
                                    the countries in which 
                                    we operate, 
                                    or plan to operate, 
                                    as well as at an international 
                                    level. We make significant 
                                    efforts to contribute 
                                    to public policy 
                                    objectives such as 
                                    socio-economic development 
                                    demonstrate the broader 
                                    value of our presence. 
                                    We assess 
                                    portfolio capital 
                                    investments against 
                                    political risks and 
                                    or minimise exposure 
                                    to jurisdictions with 
                                    risk levels. We actively 
                                    monitor regulatory 
                                    and political developments 
                                    at a national level, 
                                    as well as global 
                                    and international 
                                    policy trends, on 
                                    a continuous basis. 
                                    page 16 for more detail 
                                    on how we engage with 
                                    our key 
                                  --------------------------------  ------------------------------- 
 5. Community and Social Relations 
 Failure to maintain               Impact: A breakdown               Risk appetite: Operating 
  healthy                           in trust with local               within the limits 
  relationships with                communities and                   of our appetite. 
  local                             society at large threatens 
  communities and society           Anglo American's 'licence         Commentary: Through 
  at large.                         to                                the Social Way 3.0, 
                                    operate', potentially             we ensure that 
  Root cause: Failure               leading to increased              policies and systems 
  to identify, understand           costs, future growth              are in place at all 
  and respond to community          being impacted, business          Anglo American 
  and societal needs                interruption and reputational     managed sites to support 
  and expectations.                 damage.                           effective engagement 
                                    Mitigation: The Anglo             communities, avoid 
                                    American Social Way               or minimise adverse 
                                    3.0 is our                        social impacts, 
                                    integrated management             and maximise development 
                                    system for social                 opportunities. For 
                                    performance,                      further 
                                    adopted and implemented           information on how 
                                    at all managed sites.             we engage with key 
                                    In addition, the commitments      stakeholders, see 
                                    we have made as part              pages 16-19. For more 
                                    of the Thriving Communities       information on our 
                                    pillar of our Sustainable         Sustainable 
                                    Mining Plan will deliver          Mining Plan commitments, 
                                    tangible and valued               see page 42. 
                                    benefits to host communities. 
                                  --------------------------------  ------------------------------- 
 6. Regulatory and permitting 
 Failure to comply                 Impact: Delays to                 Risk appetite: Operating 
  with permitting and               projects and disruption           within the limits 
  other mining regulations.         to existing operations            of our appetite. 
                                    may impact future 
  Root cause: Regulations           production, delays                Commentary: Annual 
  impacting the mining              in deploying new technologies     assessments of compliance 
  industry are evolving             that support future               with the Anglo American 
  as a result of political          growth and sustainability         Minimum Permitting 
  developments, changes             objectives, legal                 Requirements are 
  in societal expectations          claims and regulatory             undertaken, as well 
  and the public perception         actions, fines and                as periodic independent 
  of mining activities.             reputational damage.              audits. 
  Failure to comply 
  with management processes         Mitigation: All operations 
  will threaten the                 must comply with our 
  ability to adhere                 Minimum 
  to regulations and                Permitting Requirements, 
  permits.                          which is a management 
                                    system to ensure necessary 
                                    permits and other 
                                    requirements are identified 
                                    and embedded in life 
                                    of asset 
                                    plans and management 
                                    routines. Through 
                                    our Sustainable Mining 
                                    Plan, we make considerable 
                                    efforts to meet community 
                                    aspirations for socio-economic 
                                    and carefully manage 
                                    the environmental 
                                    impacts of our 
                                    business to avoid 
                                    causing harm and nuisance. 
                                  --------------------------------  ------------------------------- 
 7. Operational Performance 
 Unplanned operational             Impact: Inability                 Risk appetite: Operating 
  stoppages affecting               to achieve production,            within the limits 
  production and profitability.     cash flow or                      of our appetite. 
                                    profitability targets. 
  Root cause: We are                There are potential               Commentary: There 
  exposed to risks of               safety-related risks              were no material unplanned 
  interruption to                   associated with unplanned         operational incidents 
  power supply and the              operational stoppages,            in 2022, although 
  failure of critical               along                             power outages in South 
  third-party-owned                 with a loss of investor           Africa impacted our 
  and -operated infrastructure;     confidence.                       operations. 
  e.g. rail networks 
  and ports.                        Mitigation: We maintain 
  Failure to implement              ongoing engagement 
  and embed our Operating           with 
  Model,                            critical power and 
  maintain critical                 infrastructure suppliers 
  plant, machinery and              and maintain 
  infrastructure, and               appropriate business 
  operate in compliance             continuity and emergency 
  with Anglo American's             preparedness plans. 
  Technical                         Implementation of 
  Standards, will affect            our Operating Model 
  our performance levels.           and compliance with 
  Our                               Technical Standards, 
  operations may also               supported by operational 
  be exposed to natural             risk management and 
  catastrophes and extreme          assurance processes, 
  weather events.                   are key to the mitigation 
                                    against this risk. 
                                    Regular tracking and 
                                    monitoring of progress 
                                    against the underlying 
                                    production plans is 
                                  --------------------------------  ------------------------------- 
 8. Safety 
 Failure to eliminate              Impact: A fatal incident          Risk appetite: Operating 
  fatalities.                       is devastating for                within the limits 
                                    the bereaved                      of our appetite. 
  Root cause: Fatalities            family, friends and 
  may result from operational       colleagues. Over the              Commentary: During 
  leaders,                          longer term, failure              2022, there were two 
  employees and contractors         to provide a safe                 work-related 
  failing to apply safety           working environment               fatalities in our 
  rules                             threatens our licence             managed operations. 
  and poor hazard identification    to operate.                       Management remains 
  and control, including                                              fully committed to 
  non -- compliance                 Mitigation: All operations        the elimination of 
  with critical controls.           continue to implement             fatalities. 
                                    improvement plans, 
                                    with a focus on: effective 
                                    management of critical 
                                    controls required 
                                    to manage significant 
                                    safety risks; learning 
                                    from high potential 
                                    incidents and hazards; 
                                    embedding a safety 
                                    culture; and leadership 
                                    engagement and accountability. 
                                    Our Elimination of 
                                    Fatalities Taskforce 
                                    oversees targeted 
                                    improvement initiatives 
                                    to further improve 
                                    safety performance. 
                                  --------------------------------  ------------------------------- 
 9. Climate Change 
 Climate change is                 Impact: Potential                 Risk appetite: Operating 
  the defining challenge            loss of stakeholder               within the limits 
  of our era and our                confidence, negative              of our appetite. 
  commitment to being               impact on reputation, 
  part of the global                financial performance             Commentary: For more 
  response presents                 and valuation.                    information on our 
  both opportunities                                                  Sustainable 
  and risks.                        Mitigation: We have               Mining Plan and approach 
                                    articulated our climate           to climate change, 
  Root cause: We are                change plans, policies            see pages 42 
  committed to the alignment        and progress and engage           and 45-49, and for 
  of                                with key stakeholders             further information 
  our portfolio with                to ensure they understand         on how we engage 
  the needs of a low                them. Our Sustainable             with key stakeholders, 
  carbon world in a                 Mining Plan includes              see pages 16-19. For 
  responsible manner;               operation-specific                more on the 
  however, different                and Group targets                 extreme weather events 
  stakeholder expectations          for reductions in                 that have affected 
  continue to evolve                carbon emissions,                 the operating 
  and are not always                power and water usage.            performance of our 
  aligned. Long term                                                  business units, see 
  demand for metals                                                   pages 84-111. 
  and minerals mined 
  and marketed by Anglo 
  American may deviate 
  from assumptions based 
  on climate change 
  abatement initiatives. 
  Changing weather patterns 
  and an increase in 
  extreme weather events 
  may impact operational 
  stability and our 
  local communities. 
  Our Scope 1 and 2 
  carbon emission reduction 
  targets are partly 
  reliant on new technologies 
  that are at various 
  stages of development, 
  and our Scope 3 reduction 
  ambition is reliant 
  on the adoption of 
  greener technologies 
  in the steelmaking 
                                  --------------------------------  ------------------------------- 
 10. Pandemic 
 Large scale outbreak              Impact: As has been               Risk appetite: Operating 
  of infectious disease             witnessed by the Covid-19         within the limits 
  increasing morbidity              pandemic, widespread              of our appetite. 
  and                               consequences include 
  mortality over a                  the physical and mental           Commentary: For more 
  wide                              health and well-being             information on our 
  geographic area.                  of our people and                 response to the Covid-19 
                                    local communities;                pandemic, see pages 
  Root cause: Human                 economic shocks and               59-60. 
  population growth,                disruption; social 
  urbanisation, changes             unrest; an increase 
  in land use, loss                 in political stresses 
  of biodiversity, exploitation     and tensions, a rise 
  of the natural environment,       in criminal acts; 
  viral disease from                and the potential 
  animals, and increased            for increased resource 
  global travel and                 nationalism. 
  integration are all 
  contributory causes               Mitigation: Anglo 
  of health pandemics.              American actively 
                                    monitors global 
                                    diseases. In the event 
                                    of a pandemic, 
                                    our Group Crisis Management 
                                    Team is activated 
                                    at an early stage 
                                    to direct the Group's 
                                    response, prioritising 
                                    the well-being of 
                                    our people, their 
                                    families and our host 
                                    communities, and ensuring 
                                    the continuity of 
                                    the operations. 
                                  --------------------------------  ------------------------------- 
 11. Corruption 
 Bribery or other                  Impact: Potential                 Risk appetite: Operating 
  forms of corruption               criminal investigations,          within the limits 
  committed by an employee          adverse media                     of our appetite. 
  or agent of Anglo                 attention and reputational 
  American.                         damage. A possible                Commentary: Group 
                                    negative                          Compliance Committee 
  Root cause: Anglo                 impact on licensing               oversees the organisation's 
  American has operations           processes and valuation.          anti-bribery management 
  in some countries                                                   system to ensure its 
  where there is a higher           Mitigation: A comprehensive       continuing suitability, 
  prevalence of corruption.         anti-bribery and corruption       adequacy and 
                                    policy and programme,             effectiveness. 
                                    including risk assessment, 
                                    training and awareness, 
                                    with active monitoring, 
                                    are in place. 
                                  --------------------------------  ------------------------------- 
 12. Water 
 Inability to obtain               Impact: Loss of production        Risk appetite: Operating 
  or sustain the level              and inability to achieve          within the limits 
  of water security                 cash flow or volume               of our appetite. 
  needed to support                 improvement targets. 
  operations over the               Damage to stakeholder             Commentary: This 
  current life of asset             relationships or reputational     continues to be a 
  plan or future growth             damage can result                 risk to the majority 
  options.                          from failure to manage            of 
                                    this critical resource.           our operations. For 
  Root cause: Poor                                                    more information on 
  water resource management         Mitigation: Various               our Sustainable 
  or                                projects have been                Mining Plan, see page 
  inadequate on site                implemented at                    42. 
  storage, combined                 operations most exposed 
  with reduced water                to this risk, focused 
  supply at some operations         on: water 
  as weather patterns               efficiency; water 
  change, can affect                security; water treatment; 
  production. Water                 and discharge management; 
  is a shared resource              as well as alternative 
  with local communities            supplies. New 
  and permits to use                technologies are being 
  water in our operations           developed that will 
  are at risk if we                 reduce water demand. 
  do not manage the 
  resource in a responsible 
  and sustainable manner. 
                                  --------------------------------  ------------------------------- 
 13. Future demand 
 Demand for metals                 Impact: Potential                 Risk appetite: Operating 
  and minerals produced             for negative impact               within the limits 
  and marketed by Anglo             on revenue, cash flow,            of our appetite. 
  American may deviate              profitability and 
  from our assumptions.             valuation.                        Commentary: We monitor 
                                                                      new business opportunities 
  Root cause: Technological         Mitigation: Regular               in line with our strategy 
  developments and/or               reviews of production             to secure, develop 
  product                           and financial                     and operate a portfolio 
  substitution leading              plans, as well as                 of high quality and 
  to reduced demand,                longer term portfolio             long life mineral 
  growth in the                     decisions, are based              assets, from which 
  circular economy and              on extensive research.            we will deliver leading 
  shifts in consumer                Our businesses invest             shareholder returns. 
  preferences.                      in marketing                      Our Ethical Value 
                                    and other activities              Chain commitments 
                                    to enhance the inherent           within the Trusted 
                                    value of                          Corporate Leader pillar 
                                    the products we produce,          of our Sustainable 
                                    including building                Mining Plan 
                                    consumer                          ensure we operate 
                                    confidence in the                 in line with stakeholder 
                                    ethical provenance                expectations for responsible 
                                    of our products.                  mining. For more information 
                                                                      on our ethical 
                                                                      value chains and responsible 
                                                                      mining certification, 
                                                                      see page 
                                  --------------------------------  ------------------------------- 

APPIX B - Related party transactions

The Group has related party relationships with its subsidiaries, joint operations, associates and joint ventures (see notes 34 and 35). Members of the Board and the Group Management Committee are considered to be related parties.

The Company and its subsidiaries, in the ordinary course of business, enter into various sale, purchase and service transactions with joint operations, associates, joint ventures and others in which the Group has a material interest. These transactions are under terms that are no less favourable to the Group than those arranged with third parties.

                                        Associates       Joint ventures     Joint operations 
                                     -------------  -------------------  ------------------- 
 US$ million                           2022   2021     2022        2021       2022      2021 
-----------------------------------  ------  -----  -------  ----------  ---------  -------- 
 Transactions with related parties 
 Sale of goods and services               -      -       16           -        181       158 
 Purchase of goods and services           -      -    (190)       (169)    (4,253)   (3,466) 
 Balances with related parties 
 Trade and other receivables 
  from related parties                    -      -        7           1         17        18 
 Trade and other payables to 
  related parties                         -      -     (18)        (16)      (250)     (273) 
 Loans receivable from related 
  parties                                 2      2      147          76          -         - 
-----------------------------------  ------  -----  -------  ----------  ---------  -------- 

Balances and transactions with joint operations or joint operation partners represent the portion that the Group does not have the right to offset against the corresponding amount recorded by the respective joint operations. These amounts primarily relate to purchases by De Beers and Platinum Group Metals from their joint operations in excess of the Group's attributable share of their production.

Loans receivable from related parties are included in Financial asset investments on the Consolidated balance sheet.

Remuneration and benefits received by directors are disclosed in the Remuneration report. Remuneration and benefits of key management personnel, including directors, are disclosed in note 26. Information relating to pension fund arrangements is disclosed in note 27.

APPENDIX C - Statement of directors' responsibilities in respect of the financial statements

The directors are responsible for preparing the Integrated Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the Group financial statements in accordance with UK-adopted International Accounting Standards and the Parent Company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 "Reduced Disclosure Framework", and applicable law).

Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and Parent Company and of the profit or loss of the Group for that period.

In preparing the financial statements, the directors are required to:

 --   Select suitable accounting policies and then apply them 
 --   State whether applicable UK-adopted International Accounting 
       Standards have been followed for the Group financial statements 
       and United Kingdom Accounting Standards, comprising FRS 
       101 have been followed for the Parent Company financial 
       statements, subject to any material departures disclosed 
       and explained in the financial statements 
 --   Make judgements and accounting estimates that are reasonable 
       and prudent 
 --   Prepare the financial statements on the going concern basis 
       unless it is inappropriate to presume that the Group and 
       Parent Company will continue in business 

The directors are responsible for safeguarding the assets of the Group and Parent Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the Group's and Parent Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and Parent Company and enable them to ensure that the financial statements and the Directors' Remuneration Report comply with the Companies Act 2006.

The directors are responsible for the maintenance and integrity of the Parent Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Directors' responsibility statement

for the year ended 31 December 2022

The directors consider that the Integrated Annual Report and accounts, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group's and Parent Company's position and performance, business model and strategy.

We confirm that to the best of our knowledge:

 --   the Group financial statements, which have been prepared 
       in accordance with UK-adopted international accounting 
       standards, give a true and fair view of the assets, liabilities, 
       financial position and profit of the Group 
 --   the Parent Company financial statements, which have been 
       prepared in accordance with United Kingdom Accounting 
       Standards, comprising FRS 101, give a true and fair view 
       of the 
       assets, liabilities and financial position of the Parent 
       Company and 
 --   the Strategic Report includes a fair review of the development 
       and performance of the business and the position of the 
       Group and Parent Company, together with a description 
       of the principal risks and uncertainties that it faces. 

By order of the Board

 Duncan Wanblad    Stephen Pearce 
 Chief Executive   Finance Director 

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(END) Dow Jones Newswires

March 06, 2023 04:00 ET (09:00 GMT)

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