AngloAmerican Results Presentation Deck
Guidance summary
Earnings
Volumes
Unit costs
2023 depreciation
2023 effective tax rate
LT effective tax rate
Base dividend pay-out ratio
See slide 44-45 2023
See slide 46
$3.3-3.5bn
35-37%²
33-37%²
Capex¹
40% of underlying
earnings
Growth
Includes:
• Woodsmith
SA renewables5 & nuGen™
Sustaining
• Baseline
• Lifex
Collahuasi desalination4
●
2024
Growth
Includes:
• SA renewables5 & nuGen™
Sustaining
• Baseline
• Lifex
• Collahuasi desalination4
2025
Growth
Includes:
. SA renewables5 & nuGen™
Sustaining
• Baseline
• Lifex
Collahuasi desalination4
LT sustaining (2022 real)
●
Other
$6.0-6.5bn Quellaveco copper project
~$1.8bn
~$0.8bn
~$0.3bn
$4.2-4.7bn
$3.1-$3.6bn
~$0.7bn
~$0.4bn
$5.5-6.0bn
~$1.0bn
~$0.3bn
$4.5-5.0bn
$3.5-$4.0bn
~$0.7bn
~$0.3bn
$5.0-5.5bn
~$1.0bn
~$0.3bn
$4.0-4.5bn
$3.2-$3.7bn
~$0.5bn
~$0.3bn
$3.0-3.5bn + lifex
●
●
2023 capex³: 100% ~$0.2bn; our share
~$0.1bn
Our share of capex included in capex
guidance¹
Net debt: EBITDA: <1.5x bottom of cycle
1. Cash expenditure on property, plant and equipment including related derivatives, net of proceeds from disposal of property, plant and equipment and includes direct funding for capital expenditure from non-controlling interests. Shown
excluding capitalised operating cash flows. Consequently, for Quellaveco, growth capex reflects our attributable share. Guidance includes unapproved projects and is, therefore, subject to the progress of project studies, and unapproved
Woodsmith capex of ~$1bn pa is excluded after 2023. Long-term sustaining capex guidance is shown on a 2022 real basis.
2. ETR is highly dependent on a number of factors, including the mix of profits and any corporate tax reforms impacting the countries where we operate, and may vary from the guided ranges.
3. Excludes the coarse particle recovery capex approved in February 2021.
4. Attributable share of capex. Collahuasi desalination capex shown includes related infrastructure.
5. Regional Renewable Energy Ecosystem in South Africa (RREE). RREE and nuGenTM programmes capex is subject to change as studies and execution plans progress. Includes the Group's proportionate share of capex incurred by Envusa
Energy.
Anglo American
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