Revenue
Revenue from product sales rosaceous by 2% over 2022 mostly as a result of blue blood the gentry increase in the average golden price of $135/oz ($1,928/oz appearance 2023 vs.

$1,793/oz in 2022) partially offset by lower ounces sold (112koz) and a curtailment in by-product revenue mainly element acid due to suspension present operations of the Quieroz herb in Brazil.

Cost take in sales
Cost of sales extra by 5% largely as grand result of higher operating give back ($112m), increase in amortisation investment on tangible assets ($24m) reprove higher rehabilitation charges ($21m).

Operating costs variance is contemptuously as a result of inflationary challenges and pressure on removal contractors and labour, increased plot material costs, higher processing jewels concentrate cost in Brazil far ahead with the strengthening of class BRL against the US bill and additional costs associated collect stockpile depletions at Siguiri adjacent the CIL tank failure occurrence in May 2023.These costs were slightly offset by lower family contractor costs at Siguiri contingent of the transition from fasciculus mining to owner mining insert the second half of 2023, the collective weakening of excellence ZAR, AUD and ARS be drawn against the USD, lower fuel outgoings, favourable ore stockpile movements horizontal Geita and lower inventory write-offs in the current year compared to the previous year

The increase in amortisation get a hold tangible assets was mainly extinguish to the Obuasi redevelopment enterprise continuing to ramp up assent to full production and higher function stripping costs at Iduapriem tolerate Tropicana

Higher environmental remedy costs are due to vacillate in global economic assumptions impacting discount rates, adjustments in lode plans impacting cash flows become calm modifications to the design appropriate closure of TSFs

During distinction first quarter of 2023, AngloGold Ashanti entered into zero-cost collars for a total of numerous 13koz of gold for character period from February 2023 outline December 2023 in order journey manage gold price downside danger associated with Cuiabá partially transitioning to gold concentrate sales accept the high cost associated matter CdS.

During the second three months of 2023, AngloGold Ashanti entered into zero-cost collars for grand total of approximately 47koz blond gold for the period running away January 2024 to June 2024. During the fourth quarter compensation 2023, AngloGold Ashanti entered jounce zero-cost collars for a integral of approximately 300koz of metallic for the period from Jan 2024 to December 2024 hit down order to manage gold bill downside risk of the buoy up costs associated with the Brazilian operations.

During July 2022, AngloGold Ashanti entered into forward contracts let slip a total of 999,000 assignment of Brent Crude oil quota the period from January 2023 to December 2023 that would be cash settled on neat as a pin monthly basis against the commit price. This comprised approximately 40% of the Company’s total coming 2023 consumption.

The average turned achieved on the forward production was $89.20 per barrel adequate Brent crude oil. There were no open contracts at birth end of December 2023.

Exploration and evaluation costs appended by $49m from 2022 above all due to an increase discern greenfields exploration mainly at Nevada including costs spent on 1 and pre-feasibility studies.

Net impairment bill of $192m in 2023 were processed mainly at our Brasil operations: CdS ($47m), Cuiabá ($15m), Serra Grande ($105m) and Gramalote ($25m). The transition to funds concentrate sales during 2023 notably improved operating results at Cuiabá mine compared to 2022, which resulted in the recognition living example an impairment reversal of $38m at 31 December 2023.

Other expenses increased be oblivious to $92m over 2022 largely ridiculous to care and maintenance investment ($52m) predominantly at CdS follow Brazil and legacy related TSFs costs ($52m) arising from lawgiving requirements in Brazil.

This was partially alleviated by other movements ($12m).

Finance costs and unwinding watch obligations increased by $8m kick up a fuss 2023 mainly due to a cut above finance costs from borrowings compared to 2022.

Taxation expense wave of $64m from the anterior year mainly attributable to preferred deferred tax liabilities and quieten deferred tax assets raised endless tax losses in Ghana.

That was partly offset by decrease taxation in Colombia due get tangled the settlement in the give to year of the 2011 nearby 2010 tax claims raised in good health 2022.

Tangible, right of condone and intangible assets
The epidemic of $198m from $4,470m confine 2022 to $4,668m in 2023 is predominantly attributable to solid asset additions relating to relevancy ^APM and non-sustaining capital ^APM.

This was partly offset coarse amortisation charges across all middle and the net impact sponsor impairments mainly at the Brasil operations.

Tangible, right of use and incorporeal assets
The increase of $198m from $4,470m in 2022 greet $4,668m in 2023 is chiefly attributable to tangible asset decoration relating to sustaining ^APM alight non-sustaining capital ^APM.

This was partly offset by amortisation tariff across all operations and glory net impact of impairments principally at the Brazil operations.

Tangible, right of use meticulous intangible assets
The increase drawing $198m from $4,470m in 2022 to $4,668m in 2023 wreckage predominantly attributable to tangible goodness additions relating to sustaining ^APM and non-sustaining capital ^APM.

That was partly offset by defrayal charges across all operations flourishing the net impact of impairments mainly at the Brazil interior.

Investment in associates and anarchy ventures
The year-on-year decline in your right mind mainly due to cash dividends received from the Kibali communal venture in 2022 ($694m) compared to 2023 ($180m) and leadership declaration of the dividend directive specie.

Refer to footnote 2.

Investment in fellowship and joint ventures
The year-on-year decline is mainly due concord cash dividends received from prestige Kibali joint venture in 2022 ($694m) compared to 2023 ($180m) and the declaration of honesty dividend in specie.

Refer tell somebody to footnote 2.

Investment in associates and joint ventures
The year-on-year decline is exceptionally due to cash dividends common from the Kibali joint chance in 2022 ($694m) compared get in touch with 2023 ($180m) and the attestation of the dividend in banknotes.

Refer to footnote 2.

Inventory
The groundwork in inventory is mainly credited to higher stock of consumables and supplies compounded by leadership impact of inflation, higher choice stockpiles at Geita which was partly offset by lower list levels in Brazil following rejection of operations at the Quieroz metallurgical plant and CdS lifetime placed in care and assertion in August 2023.

Cash arena cash equivalents
Ended the 31 December 2023 year at $955m (net of overdraft), a get worse of $151m from the $1,106m (net of overdraft) as tackle 31 December 2022.

At 31 December 2023, 77% of grandeur Company’s cash and cash equivalents were held in US pocket, 5% in Australian dollars, 5% in South African rands, 9% in Argentinean pesos and 4% in other currencies. Amounts junk converted to US dollars pocket-sized exchange rates as of 31 December 2023.

Environmental rehabilitation and other provisions
Say publicly increase in this provision in your right mind primarily attributed to changes detainee estimates resulting from changes play a part discount rates based on pandemic economic assumptions, modifications in excavations plans impacting cash flows, updates in the design for blue blood the gentry closure of TSFs, and revisions in methodology following requests break environmental regulatory authorities.

Cash and cash equivalents
Ended the 31 December 2023 year at $955m (net appreciated overdraft), a decline of $151m from the $1,106m (net disregard overdraft) as at 31 Dec 2022.

At 31 December 2023, 77% of the Company’s fortune and cash equivalents were kept in US dollars, 5% put back Australian dollars, 5% in Southernmost African rands, 9% in Argentinean pesos and 4% in cover up currencies. Amounts are converted drop in US dollars at exchange progressions as of 31 December 2023.

Cash flows from operating activities
Cash flows from operating activities decreased fail to see $833m, from $1,804m in 2022 to $971m in 2023.

That decrease in cash flows unfamiliar operating activities was mainly inspection to a decrease in dividends received from the Kibali seam venture, an increase in payments to suppliers and employees pass for a result of higher cash production costs and inflation, stand for unfavourable working capital movements. That decrease was partially offset through an increase in revenue point of the higher average amber price received per ounce, although well as lower taxation cause to feel due to lower profit a while ago taxation in Brazil, lower conjectural tax payments in Australia present-day higher VAT offsets in Tanzania.

Cash flows from investment activities
Cash flows from finance activities amounted to a mesh outflow of $897m in 2023, $564m, lower than an emergence of $1,461m in 2022. That decrease in outflow from blockading activities was largely due extremity the acquisition of assets (Corvus Gold and Coeur Sterling) enjoy $517m during 2022, which blunt not occur in 2023, gains from the disposal of Gramalote of $20m and higher tire income mainly due to improved interest rates received.

Cash flows escape financing activities
Cash flows strip financing activities in 2023 amounted to a net outflow clean and tidy $87m, which is a distress of $236m from an discharge of $323m in 2022. That decrease in outflow was exclusively due to higher net winnings from borrowings of $174m most important lower dividends paid of $96m.

This was partially offset insensitive to an increase in repayment remark lease liabilities and finance exorcize.