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Reviewed Results | Six months ended 30 June 2022

Operating results Segmental operating and financial results

    United States Dollars
Figures in millions unless otherwise stated    Total 
Mine 
Operations 
and projects 
Including 
Equity- 
accounted 
Joint 
Venture 
Total 
Mine 
Operations 
and projects 
Excluding 
Equity- 
accounted 
Joint 
Venture 
South
Africa
Region
West Africa
Region
South America
Region
  Ghana Peru Chile
South 
Deep 
Total  Tarkwa  Damang  Asanko 
45% 
Cerro 
Corona 
Salares 
Norte 
Project1
Operating results (unreviewed)                    
Ore milled/treated (000 tonnes) Six months to June 2022  21,209  19,910  1,499  10,617  6,966  2,351  1,299  3,416   
Six months to Dec 2021  21,224  19,868  1,450  10,618  6,895  2,367  1,357  3,482  – 
Six months to June 2021  21,005  19,691  1,472  10,648  6,982  2,352  1,313  3,336  – 
Yield (grams per tonne) Six months to June 2022  1.8  1.9  3.4  1.2  1.1  1.7  1.0  1.2   
Six months to Dec 2021  1.9  1.9  3.5  1.3  1.2  1.6  1.0  1.3  – 
Six months to June 2021  1.7  1.7  2.7  1.3  1.1  1.8  1.2  0.9  – 
Gold produced (000 managed equivalent ounces) Six months to June 2022  1,245.3  1,203.7  163.9  424.0  257.3  125.2  41.6  129.9   
Six months to Dec 2021  1,282.0  1,237.1  165.0  430.7  264.8  120.9  44.9  149.0  – 
Six months to June 2021  1,148.2  1,098.5  127.6  440.1  256.9  133.5  49.7  99.3  – 
Gold produced (000 attributable equivalent ounces) Six months to June 2022  1,200.5  1,159.0  158.0  385.8  231.5  112.7  41.6  129.3   
Six months to Dec 2021  1,236.8  1,191.9  159.1  392.1  238.3  108.8  44.9  148.2  – 
Six months to June 2021  1,104.1  1,054.4  123.1  401.0  231.2  120.1  49.7  98.8  – 
Gold sold (000 managed equivalent ounces) Six months to June 2022  1,247.1  1,207.5  163.9  422.1  257.3  125.2  39.7  130.5   
Six months to Dec 2021  1,281.6  1,236.7  168.3  430.6  264.8  120.9  44.9  144.9  – 
Six months to June 2021  1,154.7  1,102.3  124.4  442.7  256.9  133.5  52.3  103.5  – 
Gold price received (Dollar per equivalent ounce) Six months to June 2022  1,851  1,851  1,871  1,877  1,881  1,881  1,842  1,668   
Six months to Dec 2021  1,788  1,788  1,788  1,790  1,792  1,793  1,767  1,735  – 
Six months to June 2021  1,798  1,799  1,793  1,798  1,800  1,803  1,772  1,772  – 
Cost of sales before gold inventory change and amortisation and depreciation (Dollar per tonne) Six months to June 2022  47  47  111  31  26  44  34  31   
Six months to Dec 2021  46  47  111  33  26  47  44  30   
Six months to June 2021  43  44  103  30  23  47  42  25  – 
All-in sustaining costs (Dollar per ounce) Six months to June 2022  1,137  1,125  1,359  1,197  1,306  884  1,482  312   
Six months to Dec 2021  1,014  993  1,267  1,086  1,109  856  1,568  (74) – 
Six months to June 2021  1,087  1,076  1,368  1,081  1,203  753  1,314  31  – 
Total all-in cost (Dollar per ounce) Six months to June 2022  1,204  1,191  1,425  1,230  1,306  964  1,576  397   
Six months to Dec 2021  1,086  1,062  1,331  1,110  1,109  898  1,688  173  – 
Six months to June 2021  1,153  1,139  1,444  1,114  1,203  810  1,448  321  – 
Financial results (US$ millions)#                   
Revenue  Six months to June 2022  2,308.4  2,235.3  306.6  792.4  483.8  235.5  73.1  217.7 *   
Six months to Dec 2021  2,291.0  2,211.6  300.8  770.7  474.5  216.8  79.4  251.4 *  – 
Six months to June 2021  2,076.3  1,983.6  223.0  795.7  462.4  240.7  92.7  183.4 *  – 
Cost of sales before amortisation and depreciation  Six months to June 2022  (970.8) (922.6) (166.1) (302.3) (185.4) (68.6) (48.2) (93.3)  
Six months to Dec 2021  (885.0) (830.2) (157.1) (282.5) (152.8) (75.0) (54.8) (84.4) – 
Six months to June 2021  (887.0) (831.4) (147.9) (288.2) (157.4) (75.2) (55.6) (91.2) – 
Cost of sales before gold inventory change and amortisation and depreciation  Six months to June 2022  (988.7) (943.9) (166.3) (329.1) (180.1) (104.2) (44.8) (107.3)  
Six months to Dec 2021  (985.9) (926.4) (160.7) (352.0) (182.2) (110.3) (59.5) (106.1) – 
Six months to June 2021  (913.6) (858.2) (151.5) (324.7) (157.5) (111.7) (55.5) (83.9) – 
– Gold inventory change  Six months to June 2022  17.9  21.3  0.1  26.9  (5.3) 35.6  (3.4) 14.0   
Six months to Dec 2021  100.9  96.2  3.6  69.5  29.5  35.3  4.7  21.7  – 
Six months to June 2021  26.5  26.6  3.7  36.5  0.1  36.5  (0.1) (7.3) – 
Amortisation of mining assets  Six months to June 2022  (377.9) (369.4) (25.1) (147.9) (84.3) (55.1) (8.6) (59.4)  
Six months to Dec 2021  (402.4) (389.5) (23.0) (159.9) (102.0) (44.9) (13.0) (55.2) – 
Six months to June 2021  (315.6) (306.3) (20.0) (127.3) (70.3) (47.6) (9.3) (33.1) – 
Other expenses  Six months to June 2022  (50.0) (38.8) (1.2) (6.8) 6.5  (2.1) (11.2) (7.4) (19.4)
Six months to Dec 2021  (159.2) (160.1) (4.9) (12.8) (3.9) (9.8) 0.9  (9.9) (66.2)
Six months to June 2021  (106.2) (101.6) (1.0) (16.0) (5.4) (6.1) (4.6) (42.0) (30.8)
Profit/(loss) before royalties and taxation  Six months to June 2022  909.7  904.6  114.2  335.4  220.6  109.7  5.1  57.6  (19.4)
Six months to Dec 2021  844.3  831.9  115.9  315.6  215.9  87.2  12.4  101.9  (66.2)
Six months to June 2021  767.5  744.3  54.1  364.2  229.2  111.8  23.2  17.1  (30.8)
Royalties, mining and income taxation  Six months to June 2022  (319.8) (316.1) (43.4) (122.5) (79.1) (39.7) (3.7) (14.4) 4.6 
Six months to Dec 2021  (262.2) (258.2) (37.4) (120.7) (76.2) (40.6) (4.0) (55.0) 84.8 
Six months to June 2021  (273.8) (269.1) (17.0) (131.2) (84.5) (42.0) (4.6) (7.5) – 
– Normal taxation Six months to June 2022 (117.2) (117.2) (84.9) (49.9) (35.0) (32.4)
Six months to Dec 2021 (315.3) (315.3) (100.2) (58.7) (41.5) (47.1) (1.9)
Six months to June 2021 (105.2) (105.2) (91.1) (51.5) (39.6) (14.1)
– Royalties Six months to June 2022 (62.3) (58.6) (1.5) (32.4) (19.4) (9.4) (3.7) (3.3)
Six months to Dec 2021 (62.2) (58.3) (1.5) (31.6) (19.0) (8.7) (4.0) (5.3)
Six months to June 2021 (58.8) (54.1) (1.1) (32.8) (18.5) (9.6) (4.6) (2.6)
– Deferred taxation Six months to June 2022 (140.2) (140.2) (41.9) (5.1) (9.9) 4.7 21.3 4.6
Six months to Dec 2021 115.3 115.3 (35.9) 11.2 1.6 9.6 (2.6) 86.7
Six months to June 2021 (109.8) (109.8) (15.9) (7.3) (14.5) 7.2 9.3
Profit/(loss) before non-recurring items Six months to June 2022 589.9 588.5 70.8 213.0 141.5 70.0 1.4 43.2 (14.8)
Six months to Dec 2021 582.1 573.6 78.4 194.9 139.8 46.6 8.5 46.8 18.6
Six months to June 2021 493.7 475.2 37.1 233.0 144.7 69.8 18.6 9.6 (30.8)
Non-recurring items Six months to June 2022 (5.2) (5.2) 0.1 (0.9) (0.6) (0.3) (3.0) (0.6)
Six months to Dec 2021 (63.4) (63.4) 0.2 (41.1) (23.4) (17.7) (1.0)
Six months to June 2021 5.9 5.9 (1.3) (1.3) (1.3) (0.6)
Net profit/(loss) Six months to June 2022 584.8 583.3 70.8 212.0 140.9 69.7 1.4 40.2 (15.4)
Six months to Dec 2021 518.7 510.2 78.7 153.7 116.4 28.9 8.5 45.8 18.6
Six months to June 2021 499.6 481.0 35.8 231.7 143.4 69.8 18.6 9.0 (30.8)
Capital expenditure Six months to June 2022 (547.0) (544.3) (63.5) (156.0) (120.2) (33.1) (2.7) (16.4) (145.1)
Six months to Dec 2021 (776.9) (765.8) (59.8) (125.7) (101.2) (13.3) (11.1) (36.9) (241.8)
Six months to June 2021 (331.5) (322.2) (29.4) (127.2) (107.7) (10.1) (9.3) (18.8) (133.2)
– Normal taxation  Six months to June 2022  (117.2) (117.2) –  (84.9) (49.9) (35.0) –  (32.4) – 
Six months to Dec 2021  (315.3) (315.3) –  (100.2) (58.7) (41.5) –  (47.1) (1.9)
Six months to June 2021  (105.2) (105.2) –  (91.1) (51.5) (39.6) –  (14.1) – 
– Royalties  Six months to June 2022  (62.3) (58.6) (1.5) (32.4) (19.4) (9.4) (3.7) (3.3) – 
Six months to Dec 2021  (62.2) (58.3) (1.5) (31.6) (19.0) (8.7) (4.0) (5.3) – 
Six months to June 2021  (58.8) (54.1) (1.1) (32.8) (18.5) (9.6) (4.6) (2.6) – 
– Deferred taxation  Six months to June 2022  (140.2) (140.2) (41.9) (5.1) (9.9) 4.7  –  21.3  4.6 
Six months to Dec 2021  115.3  115.3  (35.9) 11.2  1.6  9.6  –  (2.6) 86.7 
Six months to June 2021  (109.8) (109.8) (15.9) (7.3) (14.5) 7.2  –  9.3  – 
Profit/(loss) before non-recurring items  Six months to June 2022  589.9  588.5  70.8  213.0  141.5  70.0  1.4  43.2  (14.8)
Six months to Dec 2021  582.1  573.6  78.4  194.9  139.8  46.6  8.5  46.8  18.6 
Six months to June 2021  493.7  475.2  37.1  233.0  144.7  69.8  18.6  9.6  (30.8)
Non-recurring items  Six months to June 2022  (5.2) (5.2) 0.1  (0.9) (0.6) (0.3) –  (3.0) (0.6)
Six months to Dec 2021  (63.4) (63.4) 0.2  (41.1) (23.4) (17.7) –  (1.0) – 
Six months to June 2021  5.9  5.9  (1.3) (1.3) (1.3) –  –  (0.6) – 
Net profit/(loss) Six months to June 2022  584.8  583.3  70.8  212.0  140.9  69.7  1.4  40.2  (15.4)
Six months to Dec 2021  518.7  510.2  78.7  153.7  116.4  28.9  8.5  45.8  18.6 
Six months to June 2021  499.6  481.0  35.8  231.7  143.4  69.8  18.6  9.0  (30.8)
Capital expenditure Six months to June 2022  (547.0) (544.3) (63.5) (156.0) (120.2) (33.1) (2.7) (16.4) (145.1)
Six months to Dec 2021  (776.9) (765.8) (59.8) (125.7) (101.2) (13.3) (11.1) (36.9) (241.8)
Six months to June 2021  (331.5) (322.2) (29.4) (127.2) (107.7) (10.1) (9.3) (18.8) (133.2)

The average US Dollar/Rand exchange rates for the six months were US$1 = R15.40 for June 2022, US$1 = R15.03 for December 2021 and US$1 = R14.54 for June 2021

The average Australian/US Dollar exchange rates for the six months were A$1 = US$0.72 for June 2022, A$1 = US$0.73 for December 2021 and A$1 = US$0.77 for June 2021.

* Included in total revenue is copper revenue of US$103.2m (Six months to December 2021: US$125.9m and six months to June 2021: US$106.4m).
1 In 2021 Salares Norte became a reportable segment, as the CODM has started monitoring the capital expenditure and progress towards completion. The comparative figures have been disclosed.
# Financial results for the six months ended 30 June 2022 are reviewed (six months ended 30 June 2021 and 31 December 2021 are unreviewed).

Figures may not add as they are rounded independently.

    United States Dollars  Australian Dollars  South
African
Rand 
    Australia
Region 
Australia
Region1 
South 
Africa 
Region2
Figures in millions unless otherwise stated    Total  St Ives  Agnew  Granny 
Smith 
Gruyere 
50% 
Total  St Ives  Agnew  Granny 
Smith 
Gruyere 
50% 
South 
Deep 
Operating results (unreviewed)                        
Ore milled/treated (000 tonnes) Six months to June 2022  5,679  2,041  584  777  2,277  5,679  2,041  584  777  2,277  1,498 
Six months to Dec 2021  5,674  2,040  628  838  2,168  5,674  2,040  628  838  2,168  1,450 
Six months to June 2021  5,549  2,048  626  824  2,051  5,549  2,048  626  824  2,051  1,472 
Yield (grams per tonne) Six months to June 2022  2.9  2.9  6.4  5.5  1.1  2.9  2.9  6.4  5.5  1.1  3.4 
Six months to Dec 2021  2.9  3.1  5.5  5.9  0.9  2.9  3.1  5.5  5.9  0.9  3.5 
Six months to June 2021  2.7  2.9  5.5  4.6  0.9  2.7  2.9  5.5  4.6  0.9  2.7 
Gold produced (000 managed equivalent ounces) Six months to June 2022  527.4  190.3  120.5  138.3  78.4  527.4  190.3  120.5  138.3  78.4  5,097 
Six months to Dec 2021  537.4  204.5  111.3  158.0  63.6  537.4  204.5  111.3  158.0  63.6  5,131 
Six months to June 2021  481.2  188.5  111.7  121.3  59.7  481.2  188.5  111.7  121.3  59.7  3,970 
Gold produced(000 attributable equivalent ounces) Six months to June 2022 527.4  190.3 120.5 138.3 78.4 527.4 190.3 120.5 138.3 78.4 4,915
Six months to Dec 2021  537.4  204.5  111.3  158.0  63.6  537.4  204.5  111.3  158.0  63.6  4,948 
Six months to June 2021  481.2  188.5  111.7  121.3  59.7  481.2  188.5  111.7  121.3  59.7  3,828 
Gold sold (000 managed equivalent ounces) Six months to June 2022  530.6  191.7  121.0  138.3  79.6  530.6  191.7  121.0  138.3  79.6  5,097 
Six months to Dec 2021  537.8  202.6  110.3  161.1  63.8  537.8  202.6  110.3  161.1  63.8  5,234 
Six months to June 2021  484.1  188.5  112.5  122.6  60.6  484.1  188.5  112.5  122.6  60.6  3,868 
Gold price received (Dollar per equivalent ounce) Six months to June 2022  1,869  1,868  1,866  1,869  1,876  2,600  2,599  2,596  2,600  2,609  926,383 
Six months to Dec 2021  1,800  1,800  1,793  1,806  1,798  2,454  2,455  2,453  2,452  2,455  860,689 
Six months to June 2021  1,806  1,808  1,814  1,792  1,811  2,340  2,344  2,351  2,322  2,345  838,127 
Cost of sales before gold inventory change and amortisation and depreciation (Dollar per tonne) Six months to June 2022 68  63  160  139  25  95  87  223  193  35  1,709 
Six months to Dec 2021  65  69  135  112  23  88  93  184  153  31  1,665 
Six months to June 2021  64  63  134  119  21  83  81  173  154  27  1,497 
All-in sustaining costs (Dollar per ounce) Six months to June 2022  1,117  1,185  1,188  1,047  967  1,554  1,649  1,652  1,456  1,345  672,915 
Six months to Dec 2021  1,019  967  1,150  939  1,157  1,391  1,322  1,573  1,281  1,578  610,487 
Six months to June 2021  1,116  1,047  1,178  1,158  1,133  1,447  1,357  1,528  1,501  1,469  639,288 
Total all-in cost (Dollar per ounce) Six months to June 2022  1,211  1,233  1,353  1,196  969  1,685  1,715  1,882  1,663  1,348  705,623 
Six months to Dec 2021  1,108  1,005  1,310  1,073  1,169  1,512  1,374  1,791  1,462  1,594  641,683 
Six months to June 2021  1,189  1,078  1,305  1,276  1,146  1,542  1,398  1,692  1,654  1,486  674,965 
Financial results (US$ millions)#                        
Revenue  Six months to June 2022  991.7  358.2  225.8  258.5  149.3  1,379.6  498.3  314.1  359.6  207.7  4,722.2 
Six months to Dec 2021  968.0  364.7  197.8  290.8  114.7  1,319.5  497.5  270.5  394.9  156.6  4,505.0 
Six months to June 2021  874.2  340.8  204.2  219.6  109.7  1,132.9  441.7  264.6  284.6  142.1  3,241.7 
Cost of sales before amortisation and depreciation  Six months to June 2022  (409.1) (156.6) (96.4) (105.5) (50.7) (569.1) (217.8) (134.1) (146.8) (70.5) (2,558.3)
Six months to Dec 2021  (361.1) (137.0) (83.7) (96.7) (43.6) (493.2) (187.1) (114.6) (132.2) (59.4) (2,359.8)
Six months to June 2021  (359.7) (136.5) (88.8) (96.7) (37.6) (466.4) (177.0) (115.2) (125.4) (48.8) (2,150.2)
Cost of sales before gold inventory change and amortisation and depreciation  Six months to June 2022  (386.0) (127.6) (93.6) (108.0) (56.8) (537.0) (177.5) (130.2) (150.3) (79.0) (2,560.6)
Six months to Dec 2021  (367.1) (139.9) (84.5) (93.5) (49.2) (501.1) (190.7) (115.4) (127.9) (67.0) (2,414.0)
Six months to June 2021  (353.4) (128.5) (83.7) (97.8) (43.3) (458.2) (166.6) (108.5) (126.8) (56.2) (2,203.5)
– Gold inventory change  Six months to June 2022  (23.1) (29.0) (2.8) 2.5  6.1  (32.1) (40.3) (3.9) 3.5  8.5  2.3 
Six months to Dec 2021  6.0  2.9  0.8  (3.2) 5.6  7.8  3.6  0.9  (4.2) 7.6  54.3 
Six months to June 2021  (6.3) (8.0) (5.1) 1.1  5.7  (8.2) (10.4) (6.6) 1.4  7.4  53.3 
Amortisation of mining assets  Six months to June 2022  (145.5)         (202.4)         (386.8)
Six months to Dec 2021  (164.3)         (223.5)         (345.2)
Six months to June 2021  (135.3)         (175.4)         (290.7)
Other expenses  Six months to June 2022  (15.2)         (21.2)         (18.7)
Six months to Dec 2021  (34.5)         (47.6)         (73.0)
Six months to June 2021  (47.2)         (61.2)         (14.0)
Profit/(loss) before royalties and taxation  Six months to June 2022  421.9          586.9          1,758.4 
Six months to Dec 2021  408.1          555.2          1,727.0 
Six months to June 2021  332.1          430.0          786.8 
Royalties, mining and income taxation  Six months to June 2022  (144.2)         (200.6)         (668.2)
Six months to Dec 2021  (133.8)         (182.3)         (557.9)
Six months to June 2021  (118.1)         (153.1)         (246.7)
– Normal taxation  Six months to June 2022                       
Six months to Dec 2021  (166.1)         (221.1)         – 
Six months to June 2021  –          –          – 
– Royalties  Six months to June 2022  (25.0)         (34.8)         (23.6)
Six months to Dec 2021  (23.7)         (32.4)         (22.5)
Six months to June 2021  (22.3)         (28.9)         (16.2)
– Deferred taxation  Six months to June 2022  (119.2)         (165.8)         (644.6)
Six months to Dec 2021  56.0          71.2          (535.4)
Six months to June 2021  (95.8)         (124.2)         (230.5)
Profit/(loss) before non-recurring items       Six months to June 2022  277.7          386.3          1,090.1 
Six months to Dec 2021  274.3          372.9          1,169.1 
Six months to June 2021  214.0          276.9          540.1 
Non-recurring items  Six months to June 2022  (0.7)         (0.9)         0.9 
Six months to Dec 2021  (21.5)         (28.3)         3.1 
Six months to June 2021  9.1          11.8          (18.9)
Net profit/(loss) Six months to June 2022  277.1          385.4          1,091.0 
Six months to Dec 2021  252.7          344.6          1,172.2 
Six months to June 2021  223.0          288.6          521.2 
Capital expenditure  Six months to June 2022  (166.0) (59.3) (49.4) (41.5) (15.9) (231.0) (82.5) (68.8) (57.7) (22.1) (978.0)
Six months to Dec 2021  (179.5) (52.1) (45.8) (59.9) (21.7) (244.5) (71.2) (62.5) (81.1) (29.7) (892.3)
Six months to June 2021  (156.1) (51.2) (42.4) (40.5) (22.0) (202.4) (66.4) (54.9) (52.6) (28.5) (428.1)

As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit.

1 For Australia, all financial numbers are in Australian Dollar.
2 For South Africa, all financial numbers are in Rand and Rand per kilogram.
# Financial results for the six months ended 30 June 2022 are reviewed (six months ended 30 June 2021 and 31 December 2021 are unreviewed).

Figures may not add as they are rounded independently.