Chief Executive Cynthia Carroll presented at the Deutsche Bank BRICS Metals and Mining Conference in London. You can find out more about Anglo American here: http://www.angloamerican.com/ http://www.facebook.com/angloamerican http://www.twitter.com/angloamerican http://www.youtube.com/angloamerican http://www.flickr.com/photos/angloamerican http://www.linkedin.com/company/anglo-american

1. DEUTSCHE BRICS METALS AND
MINING CONFERENCE
Cynthia Carroll, Chief Executive
2 November 2011

2. CAUTIONARY STATEMENT
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Intermediary Services Act 37 of 2002.).
2

3. A CONSISTENT STRATEGY AND SIMPLIFIED
ORGANISATION DELIVERING RESULTS
Well diversified portfolio(1) Improving productivity performance(3)
Diamonds Iron Ore 150
& Manganese Copper
11% 140
26% 130
Kumba
Platinum 23% 120
110 Met Coal
11% Platinum
Met Coal 100
2%
Nickel 11% 90
16%
Thermal Coal 80
Copper
2008 2009 2010 Q1 Q2
11 11
Structurally attractive commodities(2) Delivering commodity positions in
China’s share of global consumption 2010 (%) lower half of cost curves(4)
0% 20% 40% 60% 80% 100%
Met Coal 62%
2008
Iron Ore 54% Export Iron Ore 2011
Steel 41% Export Hard 2008
Coking Coal 2011
Copper 38%
2008
Nickel 33% Copper 2011
Platinum 25%
Nickel(5) 2011
Palladium 21%
Thermal Coal 2009
11% Platinum 2011
Imports
(1) Core revenue split (2) Source: AME, Brook Hunt - a Wood Mackenzie company, Johnson Matthey. Thermal Coal represents share of internationally traded market, nickel and
copper represent share of world mined production (3) Productivity based on material moved, mined or processed per operational headcount, excluding projects. Kumba refers to 3
Sishen only (4) Source: AME, Brook Hunt - a Wood Mackenzie company, Anglo American Platinum. Represents % of attributable production in lower half of the cost curve (5) In 2008
all Nickel operations in H2

4. MATERIAL GROWTH IN THE SHORT AND LONG TERM
220 >100%
200
180
Indexed production growth (2010 = 100)
>65%
160
>35%
140
120
Continuing to
100 Nickel Existing invest in
Future growth
Copper operations Near term exploration
options
80 & approved approvals and
projects restocking the
PGM pipeline
60
40 Met Coal
20 Thermal Coal
Iron Ore
0
2010 2014 Medium term Future options
growth
Indexed production growth charts exclude Diamonds, Manganese, niobium and phosphates as at 29 July 2011.
4

5. MOVING TO INDUSTRY LEADING COST POSITIONS
Export Hard
Copper Nickel Platinum Export Iron Ore
Coking Coal
100%
80% 2nd
half
cost
60% curve
40%
1st
half
20% cost
curve
0%
2008 2015 2008 2015 2009 2015 2008 2015 2008 2015
Anglo American Platinum cost curve based on internal estimates; all other data sourced from 3 rd party data providers. Source: AME, Brook Hunt - a Wood Mackenzie
company, Anglo American Platinum 5

6. LONG TERM DEMAND GROWTH REMAINS HEALTHY
Chinese Regional Urbanisation(1) 2009 China’s expected growth 2010 to 2018
Heilongjiang
Truck output 100%
Jilin
Inner
Mongolia Liaoning
Xinjiang
Huang River
Beijing Car output 85%
Tianjin
Hebei
Shanxi
Qinghai Shandong
Ningxia
Gansu Jiangsu
Urban floor space 84%
Shaanxi Henan
Anhui
Tibet Shanghai
Hubei
Chongqing
Sichuan
Zhejiang
Yangtze River
Hunan
Jiangxi
Steel for ship building 82%
Guizhou Fujian
Xun River
Yunnan Guangdong
Guangxi Hong Kong
Macau
Expressways (Km) 78%
>80% 70%-80% Hainan
60%-70% 50-60%
<50%
(1) The analysis excludes Taiwan. Source: NBS, CEIC, Anglo American Analysis 6

7. SET TO BENEFIT FROM THE SHIFT
IN COMMODITIES DEMAND
Chinese share of global demand
60%
Nickel
50% Copper
40% Finished Steel
Light duty vehicles
30%
20%
Polished diamonds
10%
0%
2000 2005 2010 2015 2020
Source: Anglo American Commodity Research
7

8. SUPPLY CONSISTENTLY UNDER DELIVERS
Infrastructure project delays Copper industry grade declines, Copper mine
a long term downward trend underperformance ‘04 – ‘11e
3 1.7 9.0
1.6 8.0
2 2 ? 2010
1.5 7.0
planned
Copper grade Cu %
2 6.0
1.4
Years
5.0
1.3
4.0
1 1.2
1 3.0
1.1
2.0
1.0 1.0
0 0.9 0.0
DBCT 7X Northern RBCT Oakajee 1990 2000 2010 2020 2004 2005 2006 2007 2008 2009 2010 2011
Missing Port &
Link Rail
Pit Walls Strikes Technical Ramp-up
Weather Grades Other
Source: Anglo American, Brook Hunt - a Wood Mackenzie Company
8

9. FUTURE SUPPLY WILL BE IMPACTED
BY INCREASING CAPITAL INTENSITY
$ per t/yr Cu
25,000
Conc Producers
SxEw
Annual Prod Scale kt/yr Cu
20,000
Projects Under Construction
Projects Probable
15,000
10,000,
30
5,000
15
5
0
1980 1985 1990 1995 2000 2005 2010 2015 2020 2025
Source: Brook Hunt – Wood Mackenzie
9

10. STRATEGIC PROJECT MANAGEMENT APPROACH
Delivering four longwalls in the same region offers fantastic synergy
Project Delivery Our Approach Target Outcomes Benefits
Objectives
Project Cost
Planned growth profile 1. One standard Longwall Progressive engineering 120%
100%
requires a project that: & CHPP design & management efficiencies 80%
& cost reductions 60%
• Achieves lower 40%
20%
capital costs 2. Partnerships with Joy Reduced delivery 0%
Mining Machinery & lead times 1 2 3 4
• Provides greater Hatch
schedule Start-up Time
120%
predictability Strategic equipment
3. Standard organisation sourcing
100%
80%
• Reduces risk structures & integrated 60%
resourcing 40%
• Enhances AAMC’s Construction safety and 20%
0%
public profile and productivity gains
4. Integrated community 1 2 3 4
corporate engagement and
reputation management Improved production ramp-up Operability
115%
(Moranbah 2020) and operability
• Enhances SHEC 110%
105%
outcomes
5. Dedicated port terminal Team continuity and 100%
95%
of 30 Mt performance
90%
1 2 3 4
Number of Longwalls
10

11. DELIVERING VALUE FROM A CONSISTENT STRATEGY
• Consistent strategy and simple organisational Operational improvements realised across businesses
structure delivering results Indexed productivity(2) (2008 = 100)
150
Copper
• Comprehensive improvements undertaken 140
over the last three years 130
Kumba
• Delivering on key near-term growth projects,
120
110 Met coal
major volume growth is under way Platinum
100
• Operations moving down the cost curve 90
• Longer term fundamentals remain unchanged 80
2008 2009 2010 Q1 11 Q2 11
• Supply challenges and increasing capital Material growth in the short and long term
intensity underpinned longer term Indexed production growth (2010 = 100)
220
>100%
fundamentals 200
180 >65%
• Strategic project management is a key enabler 160 >35%
140
for future projects delivery 120 Existing
Near term Future
operations
100 & approved
approvals growth
• Anglo American is well placed to deliver future 80
60
projects
($16bn) options
growth 40
20
0
2010 2014 Medium term Future options
growth
(1) 100% basis (2) Productivity based on material moved, mined or processed per operational headcount, excluding projects. Kumba refers to Sishen only 11