Publication of Final Terms.

Anglo American plc

Registered office: 17 Charterhouse Street, London EC1N 6RA

Registered number: 3564138 (incorporated in England and Wales)

LEI: 549300S9XF92D1X8ME43

Final terms for the proposed demerger of Anglo American Platinum and associated share consolidation

At the General Meeting of Anglo American plc ("Anglo American") on Wednesday, 30 April 2025, Anglo American shareholders voted overwhelmingly to support the proposed demerger of a portion of Anglo American's interest in the platinum group metals business, Anglo American Platinum Limited (now renamed Valterra Platinum Limited) ("AAP") and the associated share consolidation of Anglo American.

Anglo American therefore intends to proceed with the distribution of c.51% of AAP's issued share capital on the basis of 110 AAP shares for every 1,075 Anglo American ordinary shares ("Anglo American Shares"), as previously announced and set out in the circular to shareholders dated Tuesday, 8 April 2025 (the "Circular").

In conjunction with the demerger, Anglo American also intends to carry out a share consolidation. This is intended to provide consistency in the Anglo American share price before and after the demerger process. The share consolidation ratio has now been set such that each Anglo American Shareholder will receive 96 new shares in Anglo American ("New Shares") for every 109 Anglo American Shares held at the share consolidation record time (being 18:00 UK time on Friday, 30 May 2025) (the "Consolidation Ratio"). The Consolidation Ratio has been primarily determined on the basis of the relative three month volume-weighted average share prices for Anglo American and AAP up to Monday, 19 May 2025, together with an appropriate adjustment for AAP's additional dividend of R59 per share paid on Tuesday, 29 April 2025.

As previously announced, the effective date for the demerger will be Saturday, 31 May 2025, and on Monday, 2 June 2025, AAP's ordinary shares will be admitted to the equity shares (international commercial companies secondary listing) listing segment of the FCA's Official List and admitted to trading on the London Stock Exchange's ("LSE") Main Market for listed securities, which will be in addition to AAP's existing primary listing on the Johannesburg Stock Exchange ("JSE").

The effective date for Anglo American's share consolidation is Sunday, 1 June 2025 and unconditional dealings in the consolidated shares (with new ISIN GB00BTK05J60 and SEDOL: BTK05J6)⁽¹⁾  will commence on the LSE on Monday, 2 June 2025, with the listing and commencement of dealings in entitlements to the consolidated shares on the JSE also on Monday, 2 June 2025. Following the share consolidation, the issued share capital of Anglo American will comprise of 1,178,050,272 ordinary shares of US$0.6239⁽²⁾ each.

On Thursday, 8 May 2025, AAP shareholders approved proposals for AAP to be renamed Valterra Platinum Limited. Valterra Platinum Limited will trade with the abbreviated name of "Valterra" and share code "VAL" on the JSE, but maintain the existing ISIN ZAE000013181. The shares will trade on the LSE under the ticker symbol "VALT". The record date for shareholders to be recorded in the AAP share register in respect of corporate actions resulting from the name change to Valterra Platinum Limited will be Friday, 30 May 2025.

Additional information

The Circular contains further detail in relation to the demerger and share consolidation, including the terms and conditions applicable to the demerger and share consolidation and expected key dates. The Circular is available on www.angloamerican.com/investors/anglo-american-platinum-demerger. Anglo American Shareholders are advised to read the Circular with care and in full.

Fractional entitlements

Any holding of Anglo American Shares which is not exactly divisible by the Consolidation Ratio will result in the number of New Shares to be received being rounded down to the nearest whole number. Any fractional entitlements to New Shares will be aggregated with those from other Anglo American Shareholders and sold in the open market as soon as practicable and at the best price reasonably obtainable. The relevant share of the aggregated proceeds will be returned to shareholders as follows.

Anglo American Shareholders on the Anglo American UK share register:

•    The net proceeds of sale (following the deduction of any sale or currency exchange costs or commissions being deducted) will be paid according to their entitlement.

•    Fractional proceeds for Anglo American shareholders on the Anglo American UK share register will be paid electronically by BACS payment utilising existing dividend bank mandates or by crediting individual (or nominee, if applicable) CREST accounts in the United Kingdom by no later than Friday, 13 June 2025.

•    Where no mandated bank account has been registered with the UK share registrar, the payment will be held until such time as a mandated bank account has been registered (and a fee may be charged for release of this payment).

Anglo American Shareholders on the Anglo American South African share register:

•    The cash payment due to an Anglo American shareholder in respect of their fractional entitlements shall be determined with reference to the volume-weighted average price in Rand of the New Shares traded on the JSE on the first trading day following the last day to trade in Anglo American Shares in order to participate in the share consolidation, less 10% of such volume-weighted average price. Such reference price will be announced on SENS by Anglo American by not later than 11:00 (South Africa time) on Tuesday, 3 June 2025.

•    Proceeds will be despatched to Anglo American shareholders on the Anglo American South African share register either paid electronically utilising existing dividend bank mandates or by crediting CSDP or broker accounts (or nominee, if applicable) (in South Africa) (as the case may be) by no later than Friday, 13 June 2025.

Anglo American Shareholders on the Anglo American Botswana share register:

•    The cash payment due to an Anglo American shareholder in respect of their fractional entitlements shall be determined with reference to the volume-weighted average price in Rand of the New Shares traded on the JSE on the first trading day following the last day to trade in Anglo American Shares in order to participate in the share consolidation, less 10% of such volume-weighted average price. Such reference price will be announced on SENS by Anglo American by not later than 11:00 (South Africa time) on Tuesday, 3 June 2025.

•    Fractional proceeds for Anglo American shareholders on the Anglo American Botswana share register will be paid electronically utilising existing dividend bank mandates by no later than Friday, 13 June 2025.

If an Anglo American Shareholder holds only one Anglo American Share (or as a result of the share consolidation has the entitlement to receive less than one New Share), then, as a result of the share consolidation, such Anglo American Shareholder will receive no New Shares and will no longer be an Anglo American Shareholder. However, such Anglo American Shareholders will receive or be entitled to receive payment of net cash proceeds representing their fractional entitlement to a New Share.

Timetable

The following dates and times will apply to the demerger and share consolidation. If any of the dates and times below change, Anglo American will give notice of the change by issuing an announcement through a RNS and SENS announcement.

All references to time in this timetable are to London (UK) time unless otherwise stated. At the date of publication of this announcement, London (UK) time is one hour behind South Africa time.

Note 1: The new ISIN and SEDOL numbers will replace the existing Anglo American ISIN (GB00B1XZS820) and SEDOL (B1XZS82) numbers.

Note 2: the nominal value of an ordinary share without rounding is $0.623855311355311 per share.

Clare Davage

Deputy Company Secretary

Anglo American plc

20 May 2025