UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2026

Commission File Number: 001-41815

AngloGold Ashanti plc

(Translation of registrant’s name into English)

Third Floor, Hobhouse Court, Suffolk Street

London SW1Y 4HH

United Kingdom

6363 S. Fiddlers Green Circle, Suite 1000

Greenwood Village, CO 80111

United States of America

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F

or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Enclosure: AngloGold Ashanti Earnings Release for the Three Months and Six Months Ended 30

June 2026


	2	Q2 2026 Earnings Release

31 July 2026

Q2 2026 EBITDA*(5) +46% to $2.0bn • Q2 2026 free cash flow* +36%

to $727m • YTD free cash flow* $1.9bn • Q2 2026 interim dividend of

$364m, or 72 cps • Proposed $2.0bn share repurchase programme

approved • Net cash*(5) of $991m after debt buyback

London, Denver, Johannesburg, 31 July 2026 – AngloGold

Ashanti plc (“AngloGold Ashanti”, “AGA”, the “Company” or the

“Group”) said Q2 2026 free cash flow* rose 36% year-on-year to

$727m, further strengthening its balance sheet and providing for

increased shareholder returns. The Company reaffirmed its 2026

annual guidance.(6)

“This result shows the strong cash generation capacity of our

assets, and the resilience of our portfolio,” said CEO Alberto

Calderon. “We remain focused on managing the factors in our

control to optimise margins as we look to a production increase in

the second half of the year.”

An interim dividend for Q2 2026 was declared of $364m, or 72

US cents per share. This takes the dividend declared for H1 2026

to $949m, or 188 US cents per share, compared to $469m, or

92.5 US cents per share declared in H1 2025. A proposed $2bn

share buyback programme was approved by the Company’s

shareholders on 23 July 2026.

AngloGold Ashanti continues to focus on a series of key strategic

initiatives: delivery of predictable operating results; providing

competitive returns to shareholders; bringing a large, new

production centre into operation in southern Nevada in the United

States; the steady ramp-up of its Obuasi mine in Ghana; and

realising organic growth projects at its mines in Tanzania,

Guinea, Egypt and Brazil.

Earnings, free cash flow* increase even after

tax payments more than double

Cash flows continued to be robust in Q2 2026, underpinned by

the steady operating performance. Cash generated from

operations for Q2 2026 rose 49% to $1.8bn, compared with

$1.2bn in Q2 2025, demonstrating the robust performance of the

portfolio.

As expected, cash taxes for Q2 2026 more than doubled year-

over-year to $542m, from $237m in Q2 2025, representing the

higher gold price and improved profitability as well as timing of

tax payments across the operating jurisdictions. Remaining 2026

cash taxes(3) are expected to be paid in equal quarterly

instalments of between $230m to $250m.

Headline earnings(4) increased 58% year-on-year to $1.0bn in Q2

2026 from $639m in Q2 2025, and EBITDA*(5) rose 46% year-on-

year to $2.0bn in Q2 2026, from $1.4bn in Q2 2025, supported by

continued focus on cost management and a 35% increase year-

on-year in the average gold price received per ounce*(1) to

$4,446/oz.

Distributions to non-controlling interests of $234m in Q2 2026

were also markedly higher versus $150m in Q2 2025 and $162m

in Q1 2026.

Free cash flow* for H1 2026 more than doubled year-on-year to

$1.9bn.

Balance sheet supports disciplined capital

allocation

The Group’s balance sheet strengthened significantly as a result

of the growth in free cash flow*, ending H1 2026 with net cash*(5)

of $991m, reversing the net debt*(5) position of $311m at 30 June

2025.

On 16 April 2026, the Group completed the repurchase of

approximately $666m principal amount of its outstanding bonds.

This bond buyback has reduced gross debt, lowered future

interest obligations, and partially eliminated maturities in 2028

and 2030, enhancing financial flexibility through the cycle.

To further optimise capital allocation, on 23 July 2026, the

Company’s shareholders approved a proposed share repurchase

programme for up to $2.0bn of AngloGold Ashanti’s ordinary

shares. This programme is expected to provide the Company

with an additional mechanism for shareholder returns, alongside

the existing dividend framework, aligning AngloGold Ashanti’s

capital allocation with its North American peer group. Crucially,

the Group retains ample capacity to continue investing in safe,

stable operations and funding its pipeline of high-return organic

growth projects.

Steady production performance

Gold production for the Group(1)(2) was 744,000oz in Q2 2026

compared to 804,000oz in Q2 2025, mainly reflecting the sale of

Serra Grande in December 2025, lower production at Obuasi as

a result of the previously reported contractor fatality in April 2026,

and planned mine sequencing and maintenance across certain

operations. H2 2026 production is expected to be higher than in

H1 2026.

Underlying operational costs down $20/oz at

managed operations(1) partially offsetting

macro headwinds

The Company’s continued focus on rigorous cost discipline held

total cash costs per ounce* for managed operations(1) at $1,431/

oz for H1 2026. External pressures included a $93/oz rise in

royalties due to higher realised gold prices, $60/oz in inflationary


	3	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Performance continued

impacts, specifically related to higher labour and mining

contractor costs, a $50/oz impact from foreign exchange

movements and the follow-on impact of rising oil price contributed

a further $20/oz increase in costs. Crucially, structural efficiencies

delivered through the Full Asset Potential programme reduced

underlying, controllable costs by $20/oz in H1 2026 compared to

H1 2025.

Total cash costs per ounce* for the Group(1) rose to $1,480/oz in

Q2 2026 from $1,226/oz in Q2 2025, predominantly driven by

macroeconomic market factors representing a $216/oz increase,

while operational factors contributed $29/oz.

The external factors included: general inflation (average CPI)

linked mainly to increases in labour and mining contractor costs

(+$71/oz); higher gold-price-linked royalties (+$67/oz); and

elevated fuel prices ($43/oz), reflecting the 45% increase in

average Brent crude prices as the Company prioritised fuel

supply security during the ongoing US-Iran conflict. Foreign

exchange headwinds added $35/oz, driven primarily by the year-

on-year strengthening of the Australian dollar (+10%), Brazilian

real (+11%) and Ghanaian cedi (+9%) against the US dollar.

Management remains focused on the cost drivers within its

control. The Group’s Full Asset Potential programme and broader

operational-improvement initiatives remain central to protecting

margins and improving the efficiency and resilience of the

portfolio.

All-in sustaining costs per ounce* (“AISC”) for the Group(1) were

$2,039/oz in Q2 2026 compared with $1,666/oz in Q2 2025. The

increase was mainly driven by the impact of lower gold sales and

higher sustaining capital expenditure*, which rose to $332m in

Q2 2026, from $273m in Q2 2025.

The Company increased its investment in Mineral Reserve

development and mine life extensions, and advanced its pipeline

of organic greenfield and brownfield growth projects.

Non-sustaining capital expenditure* doubled to $217m in Q2

2026, from $108m in Q2 2025.

Momentum and resilience at managed

operations

The tragic fatality of a contractor on 24 April 2026 at the Obuasi

mine in Ghana was previously reported along with the Q1 2026

results in May. An investigation into the incident has been

completed and work is underway to implement corrective actions.

The Total Recordable Injury Frequency Rate (“TRIFR”) at the

Company’s managed operations improved to 0.79 injuries per

million hours worked in Q2 2026 compared to 0.86 injuries per

million hours worked in Q1 2026.

Unlocking value from within the portfolio

AngloGold Ashanti has undertaken an in-depth review of its

portfolio to identify opportunities to create additional value from

its current suite of operating assets. The Group has identified a

pipeline of high-return, capital-efficient brownfield opportunities

with the potential to increase gold production from 2029 onwards.

These opportunities span mining, processing and recovery

improvements at Obuasi, Geita, Sukari, Siguiri and Cuiabá. The

strategy is focused on leveraging existing infrastructure and ore

bodies to bring forward potentially high-return ounces from

existing assets. Work is also underway to advance the longer-

term, Tier One growth opportunities from the North Bullfrog and

Arthur Gold projects in Nevada.

“We have two major advantages – world class greenfield growth

projects in Nevada, and a wealth of untapped value right inside

our existing mines,” said CEO Alberto Calderon. “Our priority is to

unlock it, boosting production, extending life and lowering unit

costs by expanding capacity and using the infrastructure we

already have in place. This high-return brownfield growth is

anticipated to be highly efficient.”

Cerro Vanguardia, Argentina


	4	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Performance continued

Guidance on track with an improved H2 2026(6)

Gold production is expected to be significantly weighted toward

H2 2026. As production volumes increase, unit costs are

expected to trend lower during H2 2026. Full-year 2026 guidance

for gold production, costs and capital expenditure, which was

issued in February 2026, remains unchanged.

(1)The term “managed operations” refers to subsidiaries managed by

AngloGold Ashanti and included in its consolidated reporting, while the

term “non-managed joint ventures” (i.e., Kibali) refers to equity-accounted

joint ventures that are reported based on AngloGold Ashanti's share of

attributable earnings and are not managed by AngloGold Ashanti.

Managed operations are reported on a consolidated basis. Non-managed

joint ventures are reported on an attributable basis.

(2)Includes gold concentrate from the Cuiabá mine sold to third parties.

(3)Subject to macroeconomic factors, primarily realised gold prices. Tax

payment estimates reflect consensus market gold price forecasts for the

remainder of 2026 and are subject to change.

(4)The financial measures “headline earnings (loss)” and “headline earnings

(loss) per share” are not calculated in accordance with IFRS® Accounting

Standards, but in accordance with the Headline Earnings Circular 1/2023,

issued by the South African Institute of Chartered Accountants (SAICA), at

the request of the Johannesburg Stock Exchange Limited (JSE).

These measures are required to be disclosed by the JSE Listings

Requirements and therefore do not constitute Non-GAAP financial

measures for purposes of the rules and regulations of the US Securities

and Exchange Commission (“SEC”) applicable to the use and disclosure of

Non-GAAP financial measures.

(5)To enhance comparability with industry peers, AngloGold Ashanti will

present net debt (cash)* and EBITDA* as well as its net debt (cash)* to

EBITDA* ratio (leverage ratio), which are Non-GAAP financial measures,

and will not further adjust these metrics in its reporting. Comparative

periods will also reflect this change.

(6)Estimates assume neither operational or labour interruptions or power

disruptions, nor further changes to asset portfolio and/or operating mines

and have not been reviewed by AngloGold Ashanti’s external auditors.

Other unknown or unpredictable factors, or factors outside the Company’s

control, including inflationary pressures on its cost base, could also have

material adverse effects on AngloGold Ashanti’s future results and no

assurance can be given that any expectations expressed by AngloGold

Ashanti will prove to have been correct. Measures taken at AngloGold

Ashanti’s operations together with AngloGold Ashanti’s business continuity

plans aim to enable its operations to deliver in line with its production

targets. Actual results could differ from guidance and any deviations may

be significant. Please refer to the Risk Factors section in AngloGold

Ashanti’s annual report on Form 20-F for the financial year ended 31

December 2025 filed with the SEC.

*Refer to “Non-GAAP disclosure” for definitions and reconciliations.

Iduapriem, Ghana


	5	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Performance continued




Financial results	Quarter	Quarter		Six months	Six months
	ended	ended	%	ended	ended	%
	Jun	Jun	Variance	Jun	Jun	Variance
US Dollar millions, except as otherwise noted	2026	2025		2026	2025
Average gold price received*(1) ($/oz)	4,446	3,287	35%	4,650	3,089	51%
EBITDA*(5) ($m)	1,974	1,353	46%	4,265	2,349	82%
Headline earnings(4) ($m)	1,010	639	58%	2,295	1,087	111%
Capital expenditure - Group(1) ($m)	549	381	44%	1,016	717	42%
Net cash flow from operating activities ($m)	1,432	1,018	41%	3,141	1,743	80%
Free cash flow* ($m)	727	535	36%	1,895	938	102%
Net debt (cash)*(5) ($m)	(991)	311	N/M	(991)	311	N/M

N/M: Not meaningful



	Financial highlights •EBITDA(5) rose by 46% year-on-year to $1,974m for Q2 2026, compared to $1,353m for Q2 2025, mainly due to the higher average gold price received per ounce •Free cash flow* rose by 36% year-on-year to $727m in Q2 2026, from $535m in Q2 2025 •Headline earnings(4) rose 58% year-on-year to $1,010m in Q2 2026, from $639m in Q2 2025; headline earnings(4) per share was up 58% year-on-year to 198 US cents per share in Q2 2026, from 125 US cents per share in Q2 2025 •Total capital expenditure for the Group(1) increased 44% year-on-year to $549m for Q2 2026, from $381m in Q2 2025, including $332m in sustaining capital expenditure* and $217m in non-sustaining capital expenditure, reflecting strategic portfolio reinvestment •Net debt(5) ended in a net cash*(5) position of $991m at 30 June 2026 •Interim dividend of 72 US cents/share declared for Q2 2026


* Refer to “Non-GAAP disclosure” for definitions and reconciliations.


	6	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Performance continued




Operating results	Quarter	Quarter		Six months	Six months
	ended	ended	%	ended	ended	%
	Jun	Jun	Variance	Jun	Jun	Variance
US Dollar millions, except as otherwise noted	2026	2025		2026	2025
Gold production - Group(1)(2) (koz)	744	804	(7)%	1,468	1,524	(4)%
Gold production - Managed operations(1)(2 )(koz)	668	729	(8)%	1,334	1,386	(4)%
Total cash costs* - Group(1) ($/oz)	1,480	1,226	21%	1,436	1,224	17%
Total cash costs* - Managed operations(1) ($/oz)	1,486	1,241	20%	1,431	1,228	17%
AISC* - Group(1) ($/oz)	2,039	1,666	22%	1,998	1,654	21%
AISC* - Managed operations(1) ($/oz)	2,073	1,694	22%	2,027	1,676	21%



	Operational highlights •TRIFR at managed operations was 0.79 injuries per million hours worked in Q2 2026, compared to 0.86 injuries per million hours worked in Q1 2026 •Gold production for the Group(1)(2) decreased by 7% year-on-year in Q2 2026 to 744koz compared to 804koz in Q2 2025; excluding Serra Grande, there was a 6% year-on-year decrease in Q2 2026 •Gold production from managed operations(1)(2) decreased by 8% year-on-year to 668koz in Q2 2026, down from 729koz in Q2 2025, with the main decreases at Obuasi, Sunrise Dam and Geita; excluding Serra Grande, there was a 6% year-on-year decrease in Q2 2026 •Tropicana delivered 93,000oz in Q2 2026, a significant 43% year-on-year increase from Q2 2025, with a higher proportion of open pit ore being mined and processed, while Cuiabá also grew production by 6% year-on-year •Obuasi’s gold production dropped 32% year-on-year in Q2 2026, mainly stemming from operational and equipment challenges, compounded by the operational disruption in Q2 2026 linked to the rock pass incident that resulted in a contractor fatality in April 2026 •Total cash costs per ounce* for the Group(1) increased 21% year-on-year to $1,480/oz in Q2 2026, from $1,226/oz in Q2 2025; AISC per ounce* for the Group(1) rose 22% year-on-year to $2,039/oz in Q2 2026, from $1,666/oz in Q2 2025 •Total cash costs per ounce* from managed operations(1) increased 20% year-on-year to $1,486/oz in Q2 2026, from $1,241/oz in Q2 2025 mainly due to the impact of lower gold production and market-driven factors, with increases in labour and mining contractor costs, higher gold royalty costs, higher fuel costs, as well as a stronger foreign currency exchange rate against the US Dollar •AISC per ounce* from managed operations(1) rose 22% year-on-year to $2,073/oz in Q2 2026, from $1,694/oz in Q2 2025, reflecting the impact of lower gold sales, higher total cash costs per ounce* and higher sustaining capital expenditure* reinvestment •AngloGold Ashanti reaffirmed its full-year 2026 guidance, with gold production, cost and capital spending expected to remain within the guided ranges(6)


* Refer to “Non-GAAP disclosure” for definitions and reconciliations.


	7	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial and Operating Key Statistics


Key statistics		Quarter	Quarter	Six months	Six months
		ended	ended	ended	ended
		Jun	Jun	Jun	Jun
US Dollar millions, except as otherwise noted		2026	2025	2026	2025
Operating review
Gold
Produced - Group(1)(2)(3)	- oz (000)	744	804	1,468	1,524
Produced - Managed operations(1)(2)(3)	- oz (000)	668	729	1,334	1,386
Produced - Non-managed joint ventures(1)	- oz (000)	76	75	134	138

Sold - Group(1)(2)(3)	- oz (000)	753	801	1,472	1,538
Sold - Managed operations(1)(2)(3)	- oz (000)	682	732	1,332	1,403
Sold - Non-managed joint ventures(1)	- oz (000)	71	69	140	135

Financial review
Gold income	- $m	3,034	2,407	6,188	4,334
Cost of sales - Group(1)	- $m	1,528	1,355	2,944	2,585
Cost of sales - Managed operations(1)	- $m	1,401	1,248	2,694	2,372
Cost of sales - Non-managed joint ventures(1)	- $m	127	107	250	213
Total operating costs	- $m	1,063	942	2,062	1,775
Gross profit	- $m	1,703	1,197	3,646	2,036

Average gold price received per ounce* - Group(1)	- $/oz	4,446	3,287	4,650	3,089
Average gold price received per ounce* - Managed operations(1)	- $/oz	4,448	3,287	4,647	3,090
Average gold price received per ounce* - Non-managed joint ventures(1)	- $/oz	4,431	3,285	4,672	3,078
All-in sustaining costs per ounce* - Group(1)	- $/oz	2,039	1,666	1,998	1,654
All-in sustaining costs per ounce* - Managed operations(1)	- $/oz	2,073	1,694	2,027	1,676
All-in sustaining costs per ounce* - Non-managed joint ventures(1)	- $/oz	1,710	1,367	1,715	1,414
Total cash costs per ounce* - Group(1)	- $/oz	1,480	1,226	1,436	1,224
Total cash costs per ounce* - Managed operations(1)	- $/oz	1,486	1,241	1,431	1,228
Total cash costs per ounce* - Non-managed joint ventures(1)	- $/oz	1,426	1,081	1,482	1,193

Profit for the period	- $m	1,192	806	2,654	1,348
EBITDA*(5)	- $m	1,974	1,353	4,265	2,349
Total borrowings	- $m	1,778	2,297	1,778	2,297
Net debt (cash)*(5)	- $m	(991)	311	(991)	311

Profit attributable to equity shareholders	- $m	1,002	669	2,283	1,112
	- US cents/share	197	132	448	219
Headline earnings(4)	- $m	1,010	639	2,295	1,087
	- US cents/share	198	125	451	214
Net cash inflow from operating activities	- $m	1,432	1,018	3,141	1,743
Free cash flow*	- $m	727	535	1,895	938
Capital expenditure - Group(1)	- $m	549	381	1,016	717
Capital expenditure - Managed operations(1)	- $m	487	350	915	653
Capital expenditure - Non-managed joint ventures(1)	- $m	62	31	101	64


(1) The term “managed operations” refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term “non-managed joint ventures” (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti’s share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.
(2) Includes gold concentrate from the Cuiabá mine sold to third parties In Q2 2026 and H1 2026.
(3) Includes gold production and gold sold for the Serra Grande operation, which was sold on 1 December 2025, comprising 16,000oz for Q2 2025 and 26,000oz for H1 2025.
(4) The financial measures “headline earnings (loss)” and “headline earnings (loss) per share” are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission (“SEC”) applicable to the use and disclosure of Non-GAAP financial measures.
(5) To enhance comparability with industry peers, AngloGold Ashanti will present net debt (cash)* and EBITDA* as well as its net debt (cash)* to EBITDA* ratio (leverage ratio), which are Non-GAAP financial measures, and will not further adjust these metrics in its reporting. Comparative periods will also reflect this change.
* Refer to “Non-GAAP disclosure” for definitions and reconciliations.
$ represents US Dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.


	8	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial and Operating Results

Quarterly Review

Gold production

Group gold production for Q2 2026 totalled 744,000oz, a 7%

decrease year-on-year from 804,000oz in Q2 2025. Excluding

Serra Grande, which produced 16,000oz in Q2 2025 and was

sold on 1 December 2025, there was a 6% year-on-year

decrease in gold production for the Group in Q2 2026 compared

to Q2 2025.

Tropicana (+28koz) recorded a significant year-on-year increase

in gold production in Q2 2026, primarily due to open pit recovered

grade increasing year-on-year from 0.83g/t in Q2 2025 to 1.56g/t

in Q2 2026, mainly driven by higher-grade from the Havana 4 pit

where mining was completed in Q2 2026. Going forward, mining

is planned to focus on the Havana 6 pit, where average grade is

expected to be lower. Cuiabá (+4koz) delivered a strong Q2

2026, with total tonnes treated increasing by 10% year-on-year,

and Kibali (+1koz) had a modest increase.

Obuasi (-23koz) was impacted by a 30% year-on-year reduction

in tonnes treated in Q2 2026, mainly due to a decrease in

underground ore mined stemming from equipment breakdowns,

operator availability constraints and operational delays,

compounded by the rock pass incident and related contractor

fatality in April 2026 that resulted in a stoppage through the

beginning of Q2 2026 and which rendered the KMS area

unavailable for about two weeks.

Geita (-22koz) experienced a planned 17% year-on-year decline

in mill head grade in Q2 2026, mainly driven by lower

Nyamulilima open pit grades. Sunrise Dam (-12koz) was mainly

impacted by lower underground tonnes and grade resulting

primarily from lower equipment availability. Gold production at

Sukari (-10koz) decreased year-on-year mainly due to lower

mined grades from open pit operations, partially offset by

improved plant recoveries year-on-year. There were also modest

year-on-year decreases at Siguiri (-7koz), Iduapriem (-2koz) and

Cerro Vanguardia (-1koz) in Q2 2026.

Group gold production for H1 2026 totalled 1,468,000oz, a 4%

decrease from 1,524,000oz in H1 2025. This year-on-year

reduction was driven primarily by decreases at Sunrise Dam,

Obuasi, Sukari, Siguiri, Geita and Kibali. Excluding Serra Grande,

which produced 26,000oz in H1 2025 and was sold on 1

December 2025, there was a marginal 2% year-on-year decrease

in gold production for the Group in H1 2026 compared to H1

2025.

Costs

Total cash costs per ounce* for the Group increased by 21%

year-on-year to $1,480/oz in Q2 2026, compared to $1,226/oz in

Q2 2025. The increase was driven primarily by market-related

factors which resulted in an estimated 18% year-on-year increase

in total cash costs per ounce*. Inflation mainly driven by higher

labour and mining contractor costs increased total cash costs per

ounce* year-on-year by an estimated 6%, reflecting consumer

price index (“CPI”) movements in the jurisdictions where the

Group operates, in addition to market-related increases in fuel

prices which resulted in an estimated 4% year-on-year increase

in total cash costs per ounce*. Higher royalty costs linked to the

stronger average gold price received per ounce*, resulted in an

estimated 5% year-on-year increase in total cash costs per

ounce*, and a stronger foreign currency exchange rate against

the US dollar resulted in an estimated 3% year-on-year increase

in total cash costs per ounce*.

Managed operations recorded a 20% year-on-year increase in

total cash costs per ounce*, rising from $1,241/oz in Q2 2025 to

$1,486/oz in Q2 2026. The impact of the higher gold royalties,

inflation from higher labour and mining contractor costs and lower

gold production from most of the managed portfolio were partially

offset by stronger year-on-year production performances at

Tropicana and Cuiabá, including higher by-product revenue at

Cerro Vanguardia due to the higher silver price received in Q2

2026.

Total cash costs per ounce* at the Group’s non-managed joint

ventures increased by 32% year-on-year to $1,426/oz in Q2

2026, compared to $1,081/oz in Q2 2025. The increase was

primarily driven by higher gold price-linked royalties, and higher

labour, mining contractor, and fuel costs at Kibali.

All-in sustaining costs per ounce* (“AISC”) for the Group

increased by 22% year-on-year to $2,039/oz in Q2 2026,

compared to $1,666/oz in Q2 2025. At the managed operations,

AISC per ounce* increased by 22% year-on-year to $2,073/oz in

Q2 2026, up from $1,694/oz in Q2 2025, primarily due to higher

operating costs and sustaining capital expenditure*, and lower

gold sales year-on-year. AISC per ounce* at the non-managed

joint ventures increased by 25% year-on-year to $1,710/oz in Q2

2026, from $1,367/oz in Q2 2025, mainly due to a year-on-year

increase in total cash costs per ounce* and higher sustaining

capital expenditure*.

Total cash costs per ounce* for the Group increased by 17%

year-on-year to $1,436/oz in H1 2026, compared to $1,224/oz in

H1 2025. The increase was driven primarily by market-related

factors increasing costs by an estimated 18% year-on-year,

partially offset by higher by-product revenue. Higher royalty costs

linked to the stronger average gold price received per ounce*,

resulted in an estimated 7% year-on-year increase in total cash

costs per ounce*. In addition, inflation mainly driven by higher

labour and mining contractor costs increased total cash costs per

ounce* year-on-year by an estimated 5%, higher fuel prices

resulted in an estimated marginal 2% year-on-year increase in

total cash costs per ounce*, and a stronger foreign currency

exchange rate against the US dollar resulted in an estimated 4%

year-on-year increase in total cash costs per ounce*.

Siguiri, Guinea


	9	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial and Operating Results continued

Quarterly Review

Managed operations recorded a 17% year-on-year increase in

total cash costs per ounce*, rising from $1,228/oz in H1 2025 to

$1,431/oz in H1 2026. The impact of the market-driven increases

in total cash costs per ounce* and lower gold production from

Obuasi, Siguiri, Geita, Sukari and Sunrise Dam were partially

offset by stronger year-on-year production performances at

Tropicana and Cuiabá, and higher by-product revenue at Cerro

Vanguardia due to the higher silver price received in H1 2026.

Total cash costs per ounce* at the Group’s non-managed joint

ventures increased by 24% year-on-year to $1,482/oz in H1

2026, compared to $1,193/oz in H1 2025. The increase was

primarily driven by the impact of lower gold production, higher

gold price-linked royalties, and higher labour, mining contractor,

and fuel costs at Kibali.

AISC per ounce* for the Group increased by 21% year-on-year to

$1,998/oz in H1 2026, compared to $1,654/oz in H1 2025. At the

managed operations, AISC per ounce* increased by 21% year-

on-year to $2,027/oz in H1 2026, up from $1,676/oz in H1 2025,

primarily due to higher year-on-year total cash costs per ounce*

and sustaining capital expenditure*. AISC per ounce* at the non-

managed joint ventures increased by 21% year-on-year to

$1,715/oz in H1 2026, from $1,414/oz in H1 2025, mainly due to

year-on-year increases in total cash costs per ounce* and

sustaining capital expenditure*, partially offset by an increase in

gold sales.

EBITDA*

Earnings before interest, tax, depreciation and amortisation*

(“EBITDA*”) for Q2 2026 increased to $1,974m, up from $1,353m

in Q2 2025. This strong year-on-year growth was mainly

underpinned by a favourable operating and market environment,

including a higher average gold price received per ounce*, higher

by-product revenue, higher equity earnings from associates and

non-managed joint ventures, and lower costs related to legacy

tailings storage facilities (“TSFs”). Q2 2025 included costs

relating to mining contractor rate adjustments, and a loss on

disposal of the Doropo and ABC projects in Côte d’Ivoire, which

were partly offset by an impairment reversal at Serra Grande, all

of which did not reoccur in Q2 2026 (or H1 2026).

These positive contributions were partially offset by lower gold

sales volumes, and higher total operating costs (mainly driven by

increased royalty expenses and global inflation primarily due to

increases in labour, mining contractor and fuel costs).

EBITDA* for H1 2026 increased to $4,265m, up from $2,349m in

H1 2025, underpinned by the same positive drivers as the year-

on-year growth for Q2 2026. In addition to the same offsetting

factors noted for Q2 2026, higher corporate costs also partially

offset the positive contributions in H1 2026.

Earnings

Basic earnings (profit attributable to equity shareholders) for Q2

2026 were $1,002m, or 197 US cents per share, compared to

$669m, or 132 US cents per share, in Q2 2025. The strong year-

on-year increase was largely driven by a higher average gold

price received per ounce*, higher by-product revenue, higher

equity earnings from associates and non-managed joint ventures,

and lower costs related to legacy TSFs. Q2 2025 included costs

relating to mining contractor rate adjustments, and a loss on

disposal of the Doropo and ABC projects in Côte d’Ivoire, which

were partly offset by an impairment reversal at Serra Grande, all

of which did not reoccur in Q2 2026 (or H1 2026).

These positive contributions were partially offset by lower gold

sales volumes, higher total operating costs (mainly driven by

increased royalty expenses and global inflation primarily due to

increases in labour, mining contractor and fuel costs), and a

higher tax charge.

Basic earnings (profit attributable to equity shareholders) for H1

2026 were $2,283m, or 448 US cents per share, compared to

$1,112m, or 219 US cents per share, in H1 2025, underpinned by

the same positive drivers and offsetting factors that supported the

year-on-year growth for Q2 2026.

Headline earnings‡ for Q2 2026 were $1,010m, or 198 US cents

per share, compared to $639m, or 125 US cents per share, in Q2

2025. The increase in headline earnings‡ reflects the same key

drivers that supported the rise in basic earnings during Q2 2026.

In addition, headline earnings‡ excludes impairments, reversals

of impairment, asset derecognitions and losses (profits) on

disposal of assets and taxes thereon.

Headline earnings‡ for H1 2026 were $2,295m, or 451 US cents

per share, compared to $1,087m, or 214 US cents per share, for

H1 2025. The increase in headline earnings‡ reflects the same

key drivers that supported the rise in basic earnings during H1

2026.

‡The financial measures “headline earnings (loss)” and “headline earnings

(loss) per share” are not calculated in accordance with IFRS® Accounting

Standards, but in accordance with the Headline Earnings Circular 1/2023,

issued by the South African Institute of Chartered Accountants (SAICA), at

the request of the Johannesburg Stock Exchange Limited (JSE). These

measures are required to be disclosed by the JSE Listings Requirements

and therefore do not constitute Non-GAAP financial measures for

purposes of the rules and regulations of the SEC applicable to the use and

disclosure of Non-GAAP financial measures.

Cash flow

Net cash inflow from operating activities reached $1,432m in Q2

2026, representing a 41% year-on-year increase from $1,018m in

Q2 2025. This strong performance was underpinned by a higher

average gold price received per ounce* and higher dividends

received from joint ventures. These gains were partially offset by

lower gold sales volumes from managed operations, higher total

operating costs and increased tax payments.

After accounting for capital expenditure, loan repayments from

Kibali, and distributions to non-controlling interests, the Company

generated a free cash inflow* of $727m in Q2 2026, compared to

$535m in Q2 2025.

Net cash inflow from operating activities was $3,141m for H1

2026, an 80% increase year-on-year from $1,743m for H1 2025.

This strong performance was primarily driven by a higher

average gold price received per ounce* and higher dividends

received from joint ventures. These benefits were partially offset

by lower gold sales volumes from managed operations, higher

total operating costs, and increased tax payments. After

accounting for capital expenditure, loan repayments from Kibali,

distributions to non-controlling shareholders, the Company

generated a free cash inflow* of $1,895m in H1 2026, compared

to $938m in H1 2025.

The dividend policy targets a 50% payout of annual free cash

flow*, subject to maintaining a net debt* to EBITDA* ratio of no

higher than 1.0 times. The interim dividend for Q2 2026, is 72 US

cents per share.


	10	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial and Operating Results continued

Quarterly Review

During Q2 2026, AngloGold Ashanti received $129m in dividends

and $16m in loan repayments from the Kibali joint venture,

compared to $18m in dividends and $17m in loan repayments in

Q2 2025. The Company’s attributable share of outstanding cash

balances awaiting repatriation from the Democratic Republic of

the Congo (“DRC”) was $60m at 30 June 2026, down from

$146m at 31 March 2026.

Free cash flow* during Q2 2026 was impacted by ongoing

movements in value-added tax (“VAT”) recoveries at Geita and

Kibali and foreign exchange controls at Cerro Vanguardia

(“CVSA”):

•In Tanzania, the net overdue recoverable VAT input credit

balance (after discounting provisions) increased by $34m

during Q2 2026 to $184m at 30 June 2026, up from $150m at

31 March 2026. This increase was due to new claims totalling

$27m submitted during the period and a decrease in the

discounting provision of $8m, partially offset by foreign

exchange losses of $1m. AngloGold Ashanti expects to

continue offsetting eligible VAT claims against corporate taxes

as part of its recovery strategy.

•In the DRC, the Company’s attributable share of the net

recoverable VAT balance (including fuel duties and after

discounting provisions) increased by $14m during Q2 2026 to

$77m at 30 June 2026, up from $63m at 31 March 2026. This

increase was due to new claims totalling $9m submitted

during the period, a decrease in the discounting provision of

$2m and foreign exchange gains of $3m.

•In Argentina, CVSA’s cash balance decreased by $102m#

during Q2 2026 to $169m# at 30 June 2026, down from

$271m# at 31 March 2026. The cash remains available for

CVSA’s operational and exploration requirements.

During Q2 2026, CVSA’s 2025 local financial statements

were completed, and the relevant dividend distribution was

approved. All offshore dividends related to 2025 of $176m

were paid during Q2 2026 by utilising a currency swap

mechanism to secure the required US dollars.

#US dollar equivalent and at prevailing exchange rates.

Sunrise Dam, Australia


	11	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial and Operating Results continued

Quarterly Review


Free cash flow*	Quarter	Quarter	Six months	Six months
	ended	ended	ended	ended
	Jun	Jun	Jun	Jun
US Dollar millions, except as otherwise noted	2026	2025	2026	2025
Net cash flow from operating activities	1,432	1,018	3,141	1,743
Repayment of loans advanced to joint ventures	16	17	66	77
Distributions to non-controlling interests	(234)	(150)	(397)	(229)
Operating cash flow	1,214	885	2,810	1,591
Capital expenditure on tangible and intangible assets	(487)	(350)	(915)	(653)
Free cash flow*	727	535	1,895	938

*Refer to “Non-GAAP disclosure” for definitions and reconciliations.

Rounding of figures may result in computational discrepancies.

Balance sheet and liquidity

During Q2 2026, net debt* ended in a cash position, despite the

payment of $827m in dividends during Q2 2026. Net cash* at 30

June 2026 was $991m, compared to net cash* of $868m at

31 March 2026.

At 30 June 2026, the balance sheet remained robust, supported

by significant available liquidity. This included the undrawn

$1.4bn multi-currency revolving credit facility (“RCF”), and the

undrawn $65m Siguiri RCF. The $489m Geita RCF was fully

drawn at 30 June 2026. AngloGold Ashanti held approximately

$2.8bn in cash and cash equivalents at 30 June 2026, bringing

Group liquidity to approximately $4.2bn at 30 June 2026.

On 16 April 2026, the Group completed the repurchase of

approximately $666m principal amount of its outstanding bonds.

This bond buyback has reduced gross debt and future interest

obligations, and lowered maturities in 2028 and 2030, enhancing

financial flexibility through the cycle.

Capital expenditure

During Q2 2026, sustaining capital expenditure* of the Group

increased by 22% year-on-year to $332m, compared to $273m in

Q2 2025. Sustaining capital expenditure* at managed operations

rose by 20% year-on-year to $314m in Q2 2026, up from $262m

in Q2 2025. This increase was primarily driven by Sukari’s

increased capital expenditure profile that included major projects

such as booster station 3 and fleet replacement in Q2 2026 and

increased Mineral Reserve development at Iduapriem. At non-

managed joint ventures, sustaining capital expenditure*

increased by 64% year-on-year to $18m in Q2 2026, from $11m

in Q2 2025. This was primarily driven by Kibali's increased

investment in mining equipment and fleet rebuilds to enhance

underground and open-pit fleet availability.

Non-sustaining capital expenditure* for the Group was $217m in

Q2 2026, a 101% increase year-on-year from $108m in Q2 2025.

At managed operations, non-sustaining capital expenditure* rose

by 97% year-on-year to $173m, from $88m in Q2 2025. This

increase was largely due to capital spending on growth projects

linked to the advancement of North American initiatives, TSF

expenditure at Siguiri, and an increase in Sukari’s open pit waste

stripping. This increase was partially offset by reduced growth

capital expenditure at Iduapriem as a result of the completion of

the Beposo TSF Phase 2 project in 2025.

Non-managed joint ventures recorded a 120% year-on-year

increase in non-sustaining capital expenditure* to $44m in Q2

2026, from $20m in Q2 2025, mainly driven by higher

expenditure at Kibali on waste stripping for the Pamao deposition

project and underground equipment.

During H1 2026, sustaining capital expenditure* of the Group

increased by 25% year-on-year to $638m, compared to $509m in

H1 2025. Sustaining capital expenditure* at managed operations

increased by 25% year-on-year to $604m in H1 2026, up from

$485m in H1 2025. This increase was primarily driven by

increased Mineral Reserve development at Iduapriem and early

acquisition of additional mining fleet at Siguiri. At non-managed

joint ventures, sustaining capital expenditure* increased by 42%

year-on-year to $34m in H1 2026, from $24m in H1 2025, mainly

reflecting higher expenditure at Kibali on mining equipment and

rebuilds to enhance both underground and open-pit fleet

availability.

Non-sustaining capital expenditure* for the Group was $378m in

H1 2026, an 82% increase year-on-year from $208m in H1 2025.

At managed operations, non-sustaining capital expenditure*

increased by 85% year-on-year to $311m, from $168m in H1

2025, largely due to increased expenditure on growth projects,

stemming from the progress of North American initiatives during

H1 2026. Siguiri’s non-sustaining capital expenditure* increased

mainly due to higher TSF 1 capital expenditure and TSF 2

feasibility studies costs, while at Sukari the increase was as a

result of increased waste stripping.

Non-managed joint ventures recorded a 68% year-on-year

increase in non-sustaining capital expenditure* to $67m in H1

2026, from $40m in H1 2025. This increase was mainly driven by

higher expenditure at Kibali on waste stripping for the Pamao

deposition project, FTSE 2 construction and ARK drilling, partially

offset by reduced expenditure on grade control drilling and power.

*Refer to “Non-GAAP disclosure” for definitions and reconciliations.

Sukari, Egypt


	12	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Regions Financial and Operating Results

Quarter in review

Regional view

Africa region

Notes

(a)Operated by Barrick Mining

Corporation (Barrick)

In the Africa region, managed operations produced 408,000oz

at a total cash cost* of $1,491/oz in Q2 2026, compared to

472,000oz at a total cash cost* of $1,134/oz in Q2 2025. Non-

managed joint ventures produced (on an attributable basis)

76,000oz at a total cash cost* of $1,426/oz in Q2 2026,

compared to 75,000oz at a total cash cost* of $1,081/oz in Q2

2025.

Managed operations produced 831,000oz at a total cash cost* of

$1,434/oz in H1 2026, compared to 879,000oz at a total cash

cost* of $1,138/oz in H1 2025.

Non-managed joint ventures produced (on an attributable basis)

134,000oz at a total cash cost* of $1,482/oz in H1 2026,

compared to 138,000oz at a total cash cost* of $1,193/oz in H1

2025.

In Ghana, at Iduapriem, gold production was 47,000oz at a total

cash cost* of $2,189/oz for Q2 2026, compared to 49,000oz at a

total cash cost* of $1,663/oz during Q2 2025. Gold production

decreased by 4% year-on-year in Q2 2026 compared to Q2

2025, mainly due to a lower throughput rate to manage residence

time, an increase in plant downtime resulting in a 3% year-on-

year decrease in tonnes treated, and varied ore supply from

mining resulting in a lower head grade in Q2 2026. Total cash

costs per ounce* increased by 32% year-on-year in Q2 2026

compared to Q2 2025, primarily driven by the impact of lower

production and higher operating costs linked to increases in

royalty rates, higher mining contractor costs and a rise in fuel

prices, partially offset by a build-up of ore stockpile inventory and

decreased stores costs.

Gold production was 91,000oz at a total cash cost* of $1,970/oz

for H1 2026, compared to 89,000oz at a total cash cost* of

$1,586/oz in H1 2025. Gold production marginally increased by

2% year-on-year in H1 2026 compared to H1 2025, largely due to

a 15% increase in tonnes treated year-on-year resulting from a

seventeen-day plant shutdown in H1 2025 to investigate and

repair a tear in the lining of the Beposo TSF. The benefit of the

increase in tonnes treated was partially offset by a 12% year-on-

year decrease in recovered grade due to limited high-grade ore

from Block 7&8.

Total cash costs per ounce* increased by 24% year-on-year in H1

2026 compared to H1 2025, mainly driven by elevated royalties

associated with increased royalty rates and a stronger gold price,

increased fuel prices, and higher labour and mining contractor

costs, partially offset by the benefit of higher cost capitalised and

lower grinding media costs.

At Obuasi, gold production was 48,000oz at a total cash cost* of

$1,998/oz for Q2 2026, compared to 71,000oz at a total cash

cost* of $1,299/oz during Q2 2025. Gold production decreased

by 32% year-on-year in Q2 2026 compared to Q2 2025, primarily

due to an operational disruption from a contractor fatality in April

2026 following a release of waste material from an underground

ore pass. The disruption constrained access to planned high

grade stopes and reduced ore delivery resulting in lower plant

throughput and recovered grade year-on-year. Total cash costs

per ounce* increased by 54% year-on-year in Q2 2026 compared

to Q2 2025, primarily driven by the impact of lower production,

increased royalties linked to a stronger gold price and higher fuel

costs associated with increased fuel prices and longer haulage

distances due to constrained stope access, partially offset by

lower labour, mining contractor and material stores costs.

Gold production was 111,000oz at a total cash cost* of $1,713/oz

for H1 2026, compared to 125,000oz at a total cash cost* of

$1,293/oz in H1 2025. Gold production decreased by 11% year-

on-year in H1 2026 compared to H1 2025, mainly due to an

operational disruption following a contractor fatality in April 2026

that resulted in a temporary stoppage in Q2 2026, equipment

breakdowns, and operator availability constraints reducing

underground ore delivery to the plant. Recovered grade

decreased by 6% year-on-year driven by lower head grade and

2% lower plant recoveries. Total cash costs per ounce* increased

by 32% year-on-year in H1 2026 compared to H1 2025, mainly

due to the impact of lower output and higher operating costs

associated with increased royalties linked to a stronger gold price

and higher fuel and mining contractor costs, partially offset by

decreased engineering material costs due to reduced

maintenance activity.

In Guinea, at Siguiri, gold production was 78,000oz at a total

cash cost* of $1,995/oz for Q2 2026, compared to 85,000oz at a

total cash cost* of $1,663/oz in Q2 2025. Gold production

decreased by 8% year-on-year in Q2 2026 compared to Q2

2025, mainly due to an 8% year-on-year decrease in tonnes

treated due to a three-day planned plant shutdown and other

maintenance related stoppages which reduced plant availability

and impacted plant throughput year-on-year. Total cash costs per

ounce* increased by 20% year-on-year in Q2 2026 compared to

Q2 2025, mainly due to higher operating costs linked to

increased labour and mining contractor costs, higher material

stores costs associated with increased maintenance activity at

the TSF, higher fuel costs linked to increased fuel prices and

increased royalties associated with a stronger gold price, partially

offset by lower volume-related processing costs.

Gold production was 153,000oz at a total cash cost* of $1,946/oz

for H1 2026, compared to 165,000oz at a total cash cost* of

$1,595/oz in H1 2025. Gold production decreased by 7% year-

on-year in H1 2026 compared to H1 2025, largely due to a 9%

year-on-year decrease in tonnes treated due to limited capacity

for tailings deposition in Q1 2026 and a planned plant shutdown

and other plant maintenance decreasing plant throughput in Q2

2026. Total cash costs per ounce* increased by 22% year-on-

year in H1 2026 compared to H1 2025, mainly due to the impact

of lower production, a depletion of ore stockpiles, and higher

operating costs related to increased royalties as a result of a

stronger gold price, elevated fuel prices, increased labour and

mining contractor costs and higher material stores costs linked to

increased maintenance activity at the TSF.


	13	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Regions Financial and Operating Results continued

Quarter in review

In Tanzania, at Geita, gold production was 116,000oz at a total

cash cost* of $1,230/oz for Q2 2026, compared to 138,000oz at a

total cash cost* of $955/oz in Q2 2025. Gold production

decreased by 16% year-on-year in Q2 2026 compared to Q2

2025, mainly due to a planned 17% year-on-year decrease in

head grade driven by 20% lower mined grades from Nyamulilima

open pit, partly offset by a 1% increase in plant throughput and

plant recoveries year-on-year, benefitting from improved grinding

and steady carbon-in-leach (“CIL”) circuit operation. Total cash

costs per ounce* increased by 29% year-on-year in Q2 2026

compared to Q2 2025, mainly driven by the impact of lower

production, updated mining contractor rates, increased royalties

linked to a higher gold price, as well as higher fuel and material

stores costs, partially offset by lower labour costs and a build-up

of ore stockpile inventory.

Gold production was 244,000oz at a total cash cost* of $1,183/oz

for H1 2026, compared to 254,000oz at a total cash cost* of

$985/oz in H1 2025. Gold production decreased by 4% year-on-

year in H1 2026 compared to H1 2025, mainly due to lower

mined grades year-on-year from both open pit and underground

operations, partially offset by an increase in tonnes treated from

improved plant availability year-on-year. H1 2025 was impacted

by a ball mill shutdown in Q2 2025 resulting in lower throughput

rates in H1 2025. Total cash costs per ounce* increased by 20%

year-on-year in H1 2026 compared to H1 2025, mainly due to

higher operating costs linked to increased royalties associated

with a higher gold price, elevated mining contractor rates, as well

as higher stores, fuel and services costs to support increased

backfilling activities, partially offset by a build-up of metal

inventory and lower labour costs.

In Egypt, at Sukari, gold production was 119,000oz at a total

cash cost* of $940/oz in Q2 2026, compared to 129,000oz at a

total cash cost* of $681/oz in Q2 2025. Gold production

decreased by 8% year-on-year in Q2 2026 compared to Q2

2025, mainly due to lower mined grades year-on-year from open

pit operations, partially offset by improved plant recoveries year-

on-year and steady plant performance driven by optimised side-

feeder utilisation, minimised downtime, and strong SAG mill

ramp-up which improved overall mill availability. Total cash costs

per ounce* increased by 38% year-on-year in Q2 2026 compared

to Q2 2025, mainly due to the impact of lower production and

increased operating costs linked to revised mining contractor

rates, elevated fuel prices and higher royalties linked to a

stronger gold price, partially offset by lower services costs and a

build-up of gold in process inventory.

Gold production was 232,000oz at a total cash cost* of $1,020/oz

for H1 2026, compared to 246,000oz at a total cash cost* of

$750/oz in H1 2025. Gold production decreased by 6% year-on-

year in H1 2026 compared to H1 2025, mainly due to lower

mined grades from underground operations year-on-year,

partially offset by improved plant throughput driven by increased

ore delivery from underground operations and improved plant

availability year-on-year. Total cash costs per ounce* increased

by 36% year-on-year in H1 2026 compared to H1 2025, primarily

driven by the impact of lower production and increased operating

costs linked to increases in fuel prices, a rise in mining contractor

rates and a drawdown of metal inventory.

In the DRC, at Kibali, gold production (on an attributable basis)

was 76,000oz at a total cash cost* of $1,426/oz for Q2 2026,

compared to 75,000oz at a total cash cost* of $1,081/oz in Q2

2025. Gold production marginally increased by 1% year-on-year

in Q2 2026 compared to Q2 2025, mainly driven by a stronger

open pit mining performance in Q2 2026, partially offset by a 3%

year-on-year decrease in tonnes treated. Total cash costs per

ounce* increased by 32% year-on-year in Q2 2026 compared to

Q2 2025, mainly driven by increased labour and services costs,

higher royalties linked to the elevated gold price, increased fuel

prices, and a drawdown of metal inventory, partially offset by

lower stores costs.

Gold production (on an attributable basis) was 134,000oz at a

total cash cost* of $1,482/oz for H1 2026, compared to

138,000oz at a total cash cost* of $1,193/oz in H1 2025. Gold

production decreased by 3% year-on-year in H1 2026 compared

to H1 2025, mainly due to a 2% decrease in plant throughput and

a 1% decrease in recovered grade driven by a decrease in

underground ore tonnes included in the plant feed year-on-year.

Total cash costs per ounce* increased by 24% year-on-year in H1

2026 compared to H1 2025, mainly driven by higher operating

costs associated with increased royalties linked to a stronger gold

price, as well as elevated labour, services, chemical reagents,

fuel and lubricant material costs.

Obuasi, Ghana


	14	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Regions Financial and Operating Results continued

Quarter in review

Australia region

In the Australia region, gold production (on an attributable

basis) was 142,000oz at a total cash cost* of $1,769/oz in Q2

2026, compared to 126,000oz at a total cash cost* of $1,605/oz

in Q2 2025.

Gold production (on an attributable basis) was 269,000oz at a

total cash cost* of $1,783/oz in H1 2026, compared to 261,000oz

at a total cash cost* of $1,528/oz in H1 2025.

At Sunrise Dam, gold production was 49,000oz at a total cash

cost* of $2,258/oz for Q2 2026, compared to 61,000oz at a total

cash cost* of $1,644/oz in Q2 2025. Gold production decreased

by 20% year-on-year in Q2 2026 compared to Q2 2025, mainly

due to a 15% year-on-year decline in recovered grade as a result

of lower underground tonnes and grade, tied to lower mechanical

availability, crusher instability that constrained throughput,

requiring processing of a greater proportion of low-grade

stockpiles, and lower metallurgical recoveries. Total cash costs

per ounce* increased by 37% year-on-year in Q2 2026 compared

to Q2 2025, mainly due to the impact of lower production, and

increased operating costs linked to higher mining contractor

costs, elevated fuel prices and increased stores and services

costs associated with increased plant and mechanical

maintenance activity, partially offset by a build-up of metal

inventory.

Gold production was 100,000oz at a total cash cost* of $2,172/oz

for H1 2026, compared to 122,000oz at a total cash cost* of

$1,561/oz in H1 2025. Gold production decreased by 18% year-

on-year in H1 2026 compared to H1 2025, mainly due to lower

mechanical availability, lower throughput and recoveries and an

increase in low grade stockpiles processed. Total cash costs per

ounce* increased by 39% year-on-year in H1 2026 compared to

H1 2025, primarily driven by the impact of lower production, a

depletion of metal inventory and higher operating costs linked to

increased mining contractor, stores and services costs and

increased royalties associated with a higher gold price, partially

offset by a build-up of ore stockpiles.

At Tropicana, gold production (on an attributable basis) was

93,000oz at a total cash cost* of $1,388/oz in Q2 2026,

compared to 65,000oz at a total cash cost* of $1,442/oz in Q2

2025. Gold production increased by 43% year-on-year in Q2

2026 compared to Q2 2025, primarily due to open pit recovered

grade increasing year-on-year from 0.83g/t to 1.56g/t, mainly

driven by higher-grade from the Havana 4 pit where mining was

completed in Q2 2026. Going forward, mining is planned to focus

on the Havana 6 pit, where average grade is expected to be

lower. Total cash costs per ounce* decreased by 4% year-on-

year in Q2 2026 compared to Q2 2025, mainly driven by the

impact of higher production and a build-up of ore stockpile

inventory, partially offset by increased royalties linked to a higher

gold price, a rise in fuel prices, and a stronger Australian dollar to

the US dollar.

Gold production (on an attributable basis) was 169,000oz at a

total cash cost* of $1,419/oz for H1 2026, compared to

139,000oz at a total cash cost* of $1,376/oz in H1 2025. Gold

production increased by 22% year-on-year in H1 2026 compared

to H1 2025, mainly due to open pit recovered grade increasing

year-on-year from 1.00g/t to 1.40g/t, with a greater proportion of

open pit ore mined and processed compared to H1 2025. Total

cash costs per ounce* increased by 3% year-on-year in H1 2026

compared to H1 2025, mainly due to increased operating costs

linked to higher labour, mining contractor and stores costs,

elevated royalties linked to a higher gold price, and a rise in fuel

prices, partially offset by the benefit of increased gold production

and a build-up of ore stockpiles.

Tropicana, Australia


	15	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Regions Financial and Operating Results continued

Quarter in review

Americas region

Notes

(a)Previously the Expanded Silicon project, and includes the Silicon and Merlin deposits

(b)Includes the deposits of Reward, Bullfrog, Mother Lode, Crown Block

(SNA, Secret Pass and Daisy), and the Sterling mine

In the Americas region, gold production was 118,000oz at a

total cash cost* of $1,123/oz in Q2 2026, compared to 131,000oz

at a total cash cost* of $1,237/oz in Q2 2025 (including gold

production of 16,000oz for the Serra Grande operation, which

was sold on 1 December 2025).

Gold production was 234,000oz at a total cash cost* of $1,023/oz

in H1 2026, compared to 246,000oz at a total cash cost* of

$1,206/oz in H1 2025 (including gold production of 26,000oz for

the Serra Grande operation, which was sold on 1 December

2025).

In Brazil, at Cuiabá (AGA Mineração), gold production was

72,000oz at a total cash cost* of $1,241/oz for Q2 2026,

compared to 68,000oz at a total cash cost* of $943/oz in Q2

2025. Gold production is recorded upon refining and pouring at

the plant, together with the shipment of gold concentrate. Gold

production increased by 6% year-on-year in Q2 2026 compared

to Q2 2025, mainly driven by higher mining volumes from

underground operations, leading to greater tonnes treated. Total

cash costs per ounce* increased by 32% year-on-year for Q2

2026 compared to Q2 2025, mainly due to higher stores and

services costs linked to increased equipment maintenance

activities, higher by-product processing costs linked to increases

in acid prices, higher fuel prices and increased royalties linked to

a higher gold price.

Gold production was 139,000oz at a total cash cost* of $1,201/oz

for H1 2026, compared to 126,000oz at a total cash cost* of

$922/oz in H1 2025. Gold production increased by 10% year-on-

year in H1 2026 compared to H1 2025, mainly due to an increase

in tonnes mined from underground operations, partially offset by

a decrease in recovered grade due to lower mined grades in H1

2026. Total cash costs per ounce* increased by 30% year-on-

year in H1 2026 compared to H1 2025, mainly driven by higher

operating costs linked to increased engineering material,

reagents, labour and services costs due to increased

maintenance activity, raised acid prices impacting by-product

processing costs and elevated fuel prices.

In Argentina, at Cerro Vanguardia, gold production was

46,000oz at a total cash cost* of $933/oz during Q2 2026,

compared to 47,000oz at a total cash cost* of $1,409/oz in Q2

2025. Gold production marginally decreased by 2% year-on-year

in Q2 2026 compared to Q2 2025, mainly due to a decrease in

total tonnes treated, partially offset by an increase in recovered

grade. Total cash costs per ounce* decreased by 34% year-on-

year in Q2 2026 compared to Q2 2025, mainly due to higher by-

product revenue (due to a stronger silver price) and lower

engineering material costs, partially offset by increased royalties

linked to stronger gold and silver prices, elevated fuel prices, and

higher labour and services costs.

Gold production was 95,000oz at a total cash cost* of $760/oz for

H1 2026, compared to 94,000oz at a total cash cost* of $1,305/

oz in H1 2025. Gold production marginally increased by 1% year-

on-year in H1 2026 compared to H1 2025, mainly due to an

increase in recovered grade stemming from higher mined grades

at open pit and underground operations. Total cash costs per

ounce* decreased by 42% year-on-year in H1 2026 compared to

H1 2025, mainly driven by higher by-product revenue (due to a

stronger silver price) and lower engineering material costs,

partially offset by higher royalties linked to higher gold and silver

prices, and increases in labour, fuel and reagents costs.

Nevada, United States of America


	16	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Corporate Update

Quarter in review

Corporate update

Issued share capital

As at 30 July 2026, the total issued ordinary share capital of the

Company consisted of 505,769,256 ordinary shares of $1.00

each. Each AngloGold Ashanti ordinary share carries one voting

right. The Company does not hold any of its ordinary shares in

treasury.

This figure may be used by AngloGold Ashanti shareholders to

determine whether they are required to notify their interest, or a

change to their interest, in the Company under its Articles of

Association or to comply with any other applicable laws and

regulations.

Update on proposed share repurchase

programme

On 23 July 2026, the Company’s shareholders approved the

previously announced proposed share repurchase programme

for AngloGold Ashanti’s ordinary shares of up to $2.0bn. The

implementation of the proposed share repurchase programme

remains, among other things, subject to receiving any applicable

regulatory approvals.

There can be no certainty as to whether the Company will

repurchase any of its ordinary shares, or as to the amount of any

such repurchases, or the prices at which such repurchases may

be made, or the exchanges on which such repurchases may be

made. The implementation of the proposed share repurchase

programme (including the timing, price and number of AngloGold

Ashanti ordinary shares repurchased) will depend on a number of

factors, such as the Company’s financial performance, availability

of cash flows, business and market conditions, and legal and

regulatory requirements, and will be subject to the Company’s

discretion. The proposed share repurchase programme does not

obligate AngloGold Ashanti to acquire any particular number of its

ordinary shares, and the proposed share repurchase programme

may be initiated, suspended or discontinued at any time without

prior notice.

Exploration update

For detailed disclosure on the exploration work done for the

three months ended 30 June 2026, see the Exploration

Update document on the Company’s website at

www.anglogoldashanti.com on both brownfield and greenfield

exploration programmes.

AGA Mineração, Brazil


	17	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial Results

Income Statement


Group Income Statement	Quarter	Quarter	Six months	Six months
	ended	ended	ended	ended
	Jun	Jun	Jun	Jun
	2026	2025	2026	2025
US Dollar millions, except as otherwise noted	Unaudited	Unaudited	Unaudited	Unaudited

Revenue from product sales	3,104	2,445	6,340	4,408
Cost of sales	(1,401)	(1,248)	(2,694)	(2,372)
Gross profit	1,703	1,197	3,646	2,036
Corporate administration, marketing and related expenses	(45)	(34)	(89)	(61)
Exploration and evaluation costs	(37)	(54)	(97)	(105)
(Impairment) reversal of impairment, (derecognition of assets) and profit (loss) on disposal	(7)	26	(11)	25
Other expenses	(38)	(110)	(63)	(124)
Finance income	36	39	73	71
Foreign exchange and fair value adjustments	(12)	(6)	(47)	(45)
Finance costs and unwinding of obligations	(38)	(44)	(128)	(85)
Share of associates’ and joint ventures’ profit (1)	98	32	325	63
Profit before taxation	1,660	1,046	3,609	1,775
Taxation	(468)	(240)	(955)	(427)
Profit for the period	1,192	806	2,654	1,348

Attributable to:
Equity shareholders	1,002	669	2,283	1,112
Non-controlling interests	190	137	371	236
	1,192	806	2,654	1,348

Basic earnings per ordinary share (US cents) (2)	197	132	448	219
Diluted earnings per ordinary share (US cents) (3)	196	132	447	219

(1) The increase in share of associates and joint ventures’ profit is mainly due to increased profitability at Kibali.
(2) Calculated on the weighted average number of ordinary shares.
(3) Calculated on the diluted weighted average number of ordinary shares.


	18	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial Results

Statement of Financial Position


Group Statement of Financial Position	As at	As at	As at
	Jun	Jun	Dec
	2026	2025	2025
US Dollar millions, except as otherwise noted	Unaudited	Unaudited Revised (1)	Audited

ASSETS
Non-current assets
Tangible assets	8,888	8,399	8,515
Right of use assets	177	174	187
Intangible assets	111	104	106
Investments in associates and joint ventures	861	596	726
Other investments (2)	90	11	12
Loan receivable (3)	173	187	200
Inventories	222	145	175
Trade, other receivables and other assets (4)	208	322	249
Contingent consideration	72	68	60
Reimbursive right for post-retirement benefits	53	55	51
Deferred taxation (1)	126	122	106
Cash restricted for use	46	43	44
	11,027	10,226	10,431

Current assets
Loan receivable (3)	60	215	133
Inventories	1,063	1,030	1,076
Trade, other receivables and other assets (4)	557	448	426
Contingent consideration	40	11	62
Cash restricted for use	25	14	23
Cash and cash equivalents	2,782	2,001	2,905
Assets held for sale	—	295	22
	4,527	4,014	4,647

Total assets	15,554	14,240	15,078

EQUITY AND LIABILITIES
Share capital and premium	571	549	554
Accumulated profit (loss) and other reserves	8,386	6,867	7,537
Shareholders’ equity	8,957	7,416	8,091
Non-controlling interests	1,783	1,875	1,825
Total equity	10,740	9,291	9,916

Non-current liabilities
Borrowings	1,559	2,017	2,025
Lease liabilities	156	128	155
Environmental rehabilitation and other provisions	702	730	687
Provision for pension and post-retirement benefits	64	63	61
Trade and other payables	14	5	14
Deferred taxation (1)	647	551	600
	3,142	3,494	3,542

Current liabilities
Borrowings	12	86	19
Lease liabilities	51	66	59
Environmental rehabilitation and other provisions	142	93	131
Trade and other payables	1,048	786	1,001
Taxation (1)	406	326	377
Bank overdraft	13	15	23
Liabilities held for sale	—	83	10
	1,672	1,455	1,620

Total liabilities	4,814	4,949	5,162

Total equity and liabilities	15,554	14,240	15,078

(1)The comparative period has been revised to correct immaterial prior period errors relating to the classification of deferred and current taxation assets and liabilities

as previously reported in the Company’s Q3 2025 and Q4 2025 financial results.

(2)The increase in non-current other investments is mainly due to the purchase of shares in Gold X2 Mining Inc. and Thesis Gold & Silver Inc. of $67m.

(3)The decrease in the loan receivable is mainly due to the loss on restructuring of the Kibali loan of $40m and repayments of $66m.

(4)The increase in trade, other receivables and other assets is mainly as a result of an increase in prepayments of $60m, current taxation asset of $27m and other

recoverable taxes of $29m, partly offset by a decrease in trade receivables of $46m. Current taxation asset, which was previously reported separately, is now

reported as part of trade, other receivables and other assets. Comparative periods have been reclassified.


	19	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Financial Results

Statement of Cash Flows


Group Statement of Cash Flows	Quarter	Quarter	Six months	Six months
	ended	ended	ended	ended
	Jun	Jun	Jun	Jun
	2026	2025	2026	2025
US Dollar millions, except as otherwise noted	Unaudited	Unaudited	Unaudited	Unaudited

Cash flows from operating activities
Cash generated from operations	1,845	1,237	3,796	2,050
Dividends received from joint ventures	129	18	190	18
Taxation paid	(542)	(237)	(845)	(325)
Net cash inflow from operating activities	1,432	1,018	3,141	1,743

Cash flows from investing activities
Capital expenditure on tangible and intangible assets	(487)	(350)	(915)	(653)
Proceeds from disposal of tangible assets	1	—	1	—
Proceeds from disposal of subsidiary, net of cash disposed	9	25	9	25
Contingent consideration received	—	—	19	19
Other investments and assets acquired (1)	—	(3)	(67)	(3)
(Increase) decrease in cash restricted for use	—	8	(2)	7
Interest received	29	26	53	45
Repayment of loans advanced to joint ventures	16	17	66	77
Net cash outflow from investing activities	(432)	(277)	(836)	(483)

Cash flows from financing activities
Proceeds from borrowings	199	86	199	285
Repayment of borrowings	(650)	—	(650)	(180)
Repayment of lease liabilities	(25)	(23)	(45)	(46)
Finance costs – borrowings	(43)	(32)	(61)	(54)
Finance costs – leases	(5)	(4)	(9)	(8)
Other borrowing costs	(3)	—	(3)	—
Dividends paid to external shareholders and distributions to non- controlling interests	(827)	(212)	(1,853)	(639)
Net cash outflow from financing activities	(1,354)	(185)	(2,422)	(642)

Net (decrease) increase in cash and cash equivalents	(354)	556	(117)	618
Translation	(2)	(8)	4	(9)
Reclassification to disposal group held for sale	—	(20)	—	(20)
Cash and cash equivalents at beginning of period (net of bank overdraft)	3,125	1,458	2,882	1,397
Cash and cash equivalents at end of period (net of bank overdraft)	2,769	1,986	2,769	1,986

(1)This relates to the purchase of shares in Gold X2 Mining Inc. and Thesis Gold & Silver Inc.


	20	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Segmental

Gold and by-product income

AngloGold Ashanti’s operating segments are being reported based on the financial information regularly provided to the Chief Executive

Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual members of the

Executive Committee are responsible for geographic regions of the business. Under the Group’s operating model, the financial results and

the composition of the operating segments are reported to the CODM per geographical region and the Projects segment which comprises

all the major non-sustaining capital projects with the potential to be developed into operating entities. In addition to the geographical

reportable segments structure, the Group has voluntarily disaggregated and disclosed the financial information on a line-by-line basis for

each mining operation to facilitate comparability of mine performance.



Gold Income	Quarter	Quarter	Six months	Six months
	ended	ended	ended	ended
	Jun	Jun	Jun	Jun
	2026	2025	2026	2025
US Dollar millions, except as otherwise noted	Unaudited	Unaudited	Unaudited	Unaudited

AFRICA	2,183	1,801	4,504	3,190
Kibali - Attributable 45%	313	226	654	417
Iduapriem	210	164	427	278
Obuasi	231	205	514	376
Siguiri	340	290	717	511
Geita	544	466	1,148	828
Sukari	545	451	1,044	780

AUSTRALIA	646	409	1,269	797
Sunrise Dam	229	196	476	366
Tropicana - Attributable 70%	417	213	793	431

AMERICAS	518	423	1,069	764
Cerro Vanguardia	208	153	456	295
AngloGold Ashanti Mineração (1)	310	218	613	387
Serra Grande	—	52	—	82

	3,347	2,633	6,842	4,751
Equity-accounted joint venture included above	(313)	(226)	(654)	(417)
	3,034	2,407	6,188	4,334

(1) Includes income from sale of gold concentrate.



By-product Revenue
US Dollar millions, except as otherwise noted	Unaudited	Unaudited	Unaudited	Unaudited

AFRICA	4	3	10	5
Kibali - Attributable 45%	1	1	2	1
Obuasi	—	1	—	1
Geita	1	1	4	2
Sukari	2	—	4	1

AUSTRALIA	3	2	6	3
Sunrise Dam	1	1	2	1
Tropicana - Attributable 70%	2	1	4	2

AMERICAS	64	34	138	67
Cerro Vanguardia	59	28	128	58
AngloGold Ashanti Mineração	5	6	10	9

	71	39	154	75
Equity-accounted joint venture included above	(1)	(1)	(2)	(1)
	70	38	152	74


	21	Q2 2026 Earnings Release


			AngloGold Ashanti plc
2026 \| Quarter 2			AngloGold Ashanti plc

Group Segmental

Cost of sales and gross profit


Cost of Sales	Quarter	Quarter	Six months	Six months
	ended	ended	ended	ended
	Jun	Jun	Jun	Jun
	2026	2025	2026	2025
US Dollar millions, except as otherwise noted	Unaudited	Unaudited	Unaudited	Unaudited

AFRICA	977	872	1,880	1,636
Kibali - Attributable 45%	127	107	250	213
Iduapriem	127	114	220	201
Obuasi	123	101	233	202
Siguiri	169	165	333

AngloGold Ashanti PLC 6-K