TOTAL CASH COSTS RECONCILIATION FOR THE YEAR ENDED 31 DECEMBER 2023 Source: AngloGold Ashanti and Centamin company filings The Arab Republic of Egypt (“ARE”) is entitled
to a royalty of 3% of net sales revenue (revenue net of freight and refining costs) as defined from the sale of gold and associated minerals from Sukari Gold Mines (“SGM”). This royalty is calculated and recognised on receipt of the final
certificate of analysis document received from the refinery. Due to its nature, this royalty is not recognised in cost of sales but rather in other operating costs. Subsidiaries are reported on a consolidated basis. Joint ventures are
reported on an attributable basis. Adjusted to exclude the Córrego do Sítio (“CdS”) operation that was placed on care and maintenance in August 2023. The Non-GAAP measures of “Cash cost of production – gold produced” and “Cash cost of
production per ounce produced” ($/oz), as calculated and reported by Centamin, were adjusted to be consistent with AngloGold Ashanti’s definition of “total cash costs” and “total cash costs per ounce” ($/oz). “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, onsite 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” ($/oz) is calculated by dividing the US dollar value of this cost metric by the ounces of gold produced. “Cash cost of production – gold produced” and “Cash cost of production per ounce produced” ($/oz), as reported by
Centamin, was adjusted for royalties, by-product revenue, environmental obligation provision and movements in mining stockpiles to arrive at “Total cash costs per ounce” as calculated by AngloGold Ashanti. See the following page for Centamin
reconciliation. Joint VenturesSubsidiariesAngloGold Ashanti Group TotalCórrego do SítioAngloGold Ashanti Group TotalCentamin Group 4Combined BasisTotal cash costsCost of sales372 3,541 3,913 104 3,809 597 4,406 - By product revenue(2) (102)
(104) - (104) (2) (106) - Inventory change2 12 14 (2) 16 13 29 - Amortisation of tangible assets(98) (579) (677) (3) (674) (197) (871) - Amortisation of right of use assets(1) (78) (79) (3) (76) - (76) - Amortisation of intangible assets- (1)
(1) - (1) - (1) - Rehabilitation and other non-cash costs2 (22) (20) (3) (17) (1) (18) - Retrenchment costs- (4) (4) - (4) - (4) Royalties not included to cost of sales 1- - - - - 27 27 Total cash costs 275 2,767 3,042 93 2,949 436 3,385 Gold
produced - oz (000) 2343 2,343 2,686 42 2,644 450 3,095 Total cash costs per ounce - $/oz802 1,181 1,133 2,217 1,115 970 1,094 Adjusted to exclude Córrego do Sítio operation 320 Shown in US dollar million, except as otherwise noted
