08 Jun - 3 min read

Cash proceeds of fractional entitlements resulting from demerger of Thungela and apportionment of tax cost

Cash proceeds of fractional entitlements resulting from demerger of Thungela and apportionment of tax cost

Anglo American plc (the "Company")
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM

Cash proceeds of fractional entitlements resulting from demerger of Thungela and
apportionment of tax cost

Anglo American plc ("Anglo American") announces the cash settled entitlements to be received
by shareholders in respect of fractional entitlements resulting from the demerger of Thungela
Resources Limited ("Thungela").

Shareholders are referred to the circular published by Anglo American on 8 April 2021 (the
"Circular") relating to the demerger and the announcement published by Anglo American on
7 June 2021 regarding the completion of the demerger and the listing of the ordinary shares of
Thungela on the Johannesburg Stock Exchange and the London Stock Exchange.

As set out in the Circular, shareholders would have received one Thungela share ("Thungela
Share") for every ten Anglo American shares held. If the number of Anglo American shares held
is not divisible by ten, an entitlement to a fraction of a Thungela Share would have arisen.

No entitlements to a fraction of a Thungela Share shall be transferred to an Anglo American
shareholder (nor to anyone on behalf of an Anglo American shareholder). The aggregated
number of Thungela Shares to which Anglo American shareholders are entitled will first be
rounded down to the nearest whole number of Thungela Shares, resulting in allocations of whole
numbers of Thungela Shares. The aggregated excess fractions of Thungela Shares to which
such Anglo American shareholders would otherwise be entitled will not be transferred to them
but will instead be sold in the market, and the relevant Anglo American shareholder will be entitled
to receive a cash payment in respect of the fraction of a Thungela Share to which they otherwise
would have been entitled.

In this regard, Anglo American shareholders are advised that the price used to determine the
cash payment due them in respect of fractional entitlements is R20.86351. This amount has been
determined with reference to the volume weighted average price in Rand of the Thungela Shares
traded on the Johannesburg Stock Exchange on 7 June 2021, less 10% of such volume weighted
average price. For Anglo American shareholders on the Anglo American UK register, the
reference price will be converted into Sterling using the Rand : Sterling spot rate given on the
Bank of England website for 7 June 2021. Anglo American shareholders are further advised that
the closing price of the Thungela Shares traded on the Johannesburg Stock Exchange on
7 June 2021 was R21.90.

Tax considerations regarding the demerger

For the South African tax consequences that arise regarding the receipt of Thungela shares, and
the information necessary for shareholders' compliance with the South African Income Tax Act,
1962, shareholders are referred to the letter regarding base cost for South African resident
shareholders which is available at www.angloamerican.com/products/thermal-coal/demerger.

For the United Kingdom tax consequences that arise regarding the receipt of Thungela shares,
shareholders are referred to the letter regarding base cost for United Kingdom resident
shareholders which is available at www.angloamerican.com/products/thermal-coal/demerger.

Ellie Klonarides
Deputy Company Secretary
Anglo American plc
8 June 2021

The Company has a primary listing on the Main Market of the London Stock Exchange and
secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the
Namibia Stock Exchange and the SIX Swiss Exchange.

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 08-06-2021 05:00:00
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