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DIGGERS & DEALERS FORUM AUGUST 5, 2013 Graham Ehm – EVP Australia, Group Planning & Technical

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Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning

the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating

results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in

the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain

of AngloGold Ashanti’s exploration and production projects and the completion of acquisitions and dispositions, AngloGold Ashanti’s

liquidity and capital resources and capital expenditures and the outcome and consequence of any potential or pending litigation or

regulatory proceedings or environmental issues, are forward-looking statements regarding AngloGold Ashanti’s operations, economic

performance and financial condition. These forward-looking statements or forecasts involve known and unknown risks, uncertainties

and other factors that may cause AngloGold Ashanti’s actual results, performance or achievements to differ materially from the

anticipated results, performance or achievements expressed or implied in these forward-looking statements. Although AngloGold

Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can

be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the

forward-looking statements as a result of, among other factors, changes in economic, social and political and market conditions, the

success of business and operating initiatives, changes in the regulatory environment and other government actions, including

environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, and

business and operational risk management. For a discussion of such risk factors, refer to the document entitled “Risk factors related

to AngloGold Ashanti’s suite of 2012 reports” on the AngloGold Ashanti online corporate report website at www.aga-reports.com.

These factors are not necessarily all of the important factors that could cause AngloGold Ashanti’s actual results to differ materially

from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse

effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold

Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or

circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable

law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are

qualified by the cautionary statements herein. This communication may contain certain “Non-GAAP” financial measures. AngloGold

Ashanti utilises certain Non-GAAP performance measures and ratios in managing its business. Non-GAAP financial measures should

be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other

measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable

to similarly titled measures other companies may use. AngloGold Ashanti posts information that is important to investors on the main

page of its website at www.anglogoldashanti.com and under the “Investors” tab on the main page. This information is updated

regularly. Investors should visit this website to obtain important information about AngloGold Ashanti.

Disclaimer

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South Africa(a)

30%

Continental Africa38%

Australia7%

Americas25%

2012 production

South Africa42%

Continental Africa33%

Australia9%

Americas16%

AngloGold Ashanti - global footprint

An extensive global operational and exploration footprint…

...provides a wealth of flexible options across four continents.

2009 production

(a) If adjusted for the estimated 235,000 oz of lost production due to the unprotected strike action, South

Africa would have been approximately 36% of production in 2012

(b) Based on 2012 disclosed mineral reserves on an attributable basis

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Portfolio regeneration

New projects expected to improve overall portfolio quality and cash generation…

…while average costs benefit from rationalisation and sale of high-cost assets.

Average

Cost

Average

Grade

Tropicana

Kibali

CC&V

Expected low cost production

Asset sales

Assets or mining areas closed or

placed on care and maintenance

Portfolio restructuring

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Low cost production – Tropicana (70% AGA)

On track and on budget to pour gold in the September quarter…

…from our first greenfield development in more than a decade.

Project schedule

Feasibility

study Construction Ramp up

Full

production

Feasibility study

completed; project

approved Q4-10

Q4 10

• Commissioning underway

• Mine life (approved project) of 10+ years

• Remains on budget

Q3 13

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Low cost production – Kibali (45% AGA)

A second greenfield development moving quickly to production…

…expected to contribute additional higher-quality ounces.

Project schedule

• Located in the DRC

• JV with Randgold and DRC Govt

• Project on budget and on schedule with USD366m spent by end of 2012(a)

• Open-pit mining exceeding planned tonnage and grade

Approved Q2 2012

Feasibility

study Construction Ramp up

Full

production

Q1 12

Village

resettlement

completed

(a) As per available 20F disclosures

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Additional production – CC&V Mine Life Extension 2 (100% AGA)

On track and on budget…

…to extend the life of our key North American asset.

Project schedule

• c.USD100m spent as at end of 2012(a)

• Engineering and design largely complete

• Purchasing of the major mill equipment packages is nearly complete

• Contract awarded for construction of the Squaw Gulch Valley Leach Facility

Feasibility

study Construction Ramp up

Full

production

Approved;

earthworks started

during final phase

of permitting

Q1 13

(a) As per available 20F disclosures

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This is a potential game changer for South African mining…

…and is progressing towards commercial application.

• Developing prototype of key technologies to

potentially automate parts of AngloGold Ashanti’s

deep-level underground mining operations

• This technology has the potential to improve

productivity by reducing mining of waste and

extracting mainly gold-bearing reef

• Could lead to opportunities to produce gold from

high-grade shaft pillars where development is

largely done

• Four additional 30m holes completed during Q1,

2013

• Design of first production machine underway

• Two long holes successfully filled with Ultra High

Strength Backfill show viability of technology

• Focus is now on linking the technologies into a

commercially viable, integrated production system

Technology initiative – in-stope reef boring

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Atlantis

Mark II

4.5d

3.2d Atlantis

Mark III

2d

Future

Rig

1d

Auto loading

Ore handling

Self aligning

Mobile

Disc cutting

Physical breaking

Cutter life

Atlantis

7d

Process optimization

More shifts

Higher power

Single pass

Raise-

bore

Theory

7d

30d

21d

14d

7d

Days to drill a 30m long hole

Current

performance

Current Machine being designed

Technology initiative – in-stope reef boring

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Technology initiative – Sunrise Dam

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Technology initiative – Sunrise Dam underground RC drilling

Intensive development of GQ started in 2012….

Success of RC drilling for grade control in the open pit

applied to underground

Underground RC trials in October 2012 gave excellent

preliminary results

3-4 times faster than diamond drilling

Increased sample volume and density

High quality assay data for robust grade control

modelling

Moved to full RC Grade Control in November 2012

...converting resource into reserve quickly.

GQ Orebody

900m

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2075

Section at 99520N

60m

Technology initiative – Sunrise Dam optimised stoping

Drives not

required

New grade control approach suits bulk mining ….

...leading to potential significant savings in underground development costs.

• Infill with production holes after sampling

• Conditional simulation with stope optimisation

enables a lower cost, bulk mining approach

• 115mm RC holes have the ability to drill 60m,

removing the need for intermediate levels

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Tropicana Gold Mine – project parameters*

Capital Cost: A$820-A$845 million

Annual Production first three years: 470,000-

490,000 ounces

LOM Production: 3.6 million ounces

Cash Costs first three years: A$590/oz-A$630/oz

LOM Cash Costs: A$710/oz-730/oz

Ore Reserves (as at December 31, 2011): 3.91 Moz

Mineral Resource (as at December 31, 2012): 7.89

Moz

Mining Methods: Conventional open cut with

potential for future underground mining

Plant Throughput: 5.8 million tonnes per annum (5.5

Mtpa on fresh material)

* 100% project – updated August 2013

Tropicana Mine Site

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Tropicana Gold Mine – status

• All permitting and approvals in place

• Commissioning of dry and wet plant underway

• Power house commissioned and TSF construction

completed

• Full operating team in place and mobilised to site in the

June quarter along with the EPCM commissioning team

• Procurement of capital and operating spares completed

• Mining celebrated one year anniversary in July, 2013

• Third Macmahon fleet commissioned in July

• Ore for oxide commissioning phase stockpiled and initial

grade control results in line with resource model

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Tropicana Gold Mine - status

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Tropicana Gold Mine - status

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Tropicana innovation – mine geology

Grade control sample logistics…

TRADITIONAL PROCESS

… improved safety, productivity and less errors.

Sampling Samples

Picked Up Samples

Transported Samples Resorted

SDO Created

Samples Picked Up

Samples Transported

Samples Resorted/

Reconciled

Samples loaded into

Racks

Samples loaded into

Ovens

Sent Offsite

TROPICANA PROCESS

….links evaluation, short to medium term scheduling, production and processing.

Integrated

Planning Model

Automated Sample Prep/ Geomet

Integrated Planning Model…

Scheduling Mining/ Minestar Processing

GC/ Geomet Models

UC Resource Model

Mine Blocks Exploration Model

GC Au

Recovery

WAD Cyanide Consumption

Mine Block Au

Sulphur %/ AMD GC Au 90% percentile

GC Au 10% percentile

Penetration Rates

XRF

Digger Productivity

Hardness

Hardness

Exp Au

Schedule Compliance

Planned Mining

Rocktype

Regolith

Profitability

Tropicana innovation – integrated planning

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Drill

Excavator Trucks

CAT MineStar technology components…

… real time tracking of work execution, material movement, HME asset management.

Tropicana innovation – mining

Tropicana innovation – maintenance

Asset Availability

Spares Profile

Labor Profile

Critical Failure Modes

Plant Availability & Capacity

Shutdown evaluation

Use of stockpiles/buffers

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CIL

Primary

Crusher

Coarse Ore

Stockpile Secondary

Crusher

HPGR Feed Bin

Fine Ore Stockpile Ball Mill

TSF

Over Size Ore

Stockpile

Phase 1 …

HPGR

… oxide ore commissioning of primary crusher

Tropicana Gold Mine – ore commissioning

CIL

Primary

Crusher

Coarse Ore

Stockpile Secondary

Crusher

HPGR Feed Bin

Fine Ore Stockpile Ball Mill

TSF

Over Size Ore

Stockpile

Phase 2 …

HPGR

… oxide ore commissioning of circuit, HPGR bypassed

Tropicana Gold Mine – ore commissioning

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Primary

Crusher

Coarse Ore

Stockpile Secondary

Crusher

HPGR Feed Bin

Fine Ore Stockpile Ball Mill

CIL TSF

Over Size Ore

Stockpile

Phase 3 …

HPGR

… fresh ore commissioning full circuit

Tropicana Gold Mine – ore commissioning

Primary

Crusher

Coarse Ore

Stockpile Secondary

Crusher

HPGR Feed Bin

Fine Ore Stockpile Ball Mill

CIL TSF

Over Size Ore

Stockpile

Phase 3 …

HPGR

Tropicana Gold Mine – ore commissioning

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Tropicana Gold Mine – ramp up

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South Africa(a)

30%

Continental Africa38%

Australia7%

Americas25%

South Africa42%

Continental Africa33%

Australia9%

Americas16%

(a) If adjusted for the estimated 235,000 oz of lost production due to the unprotected strike action, South

Africa would have been approximately 36% of production in 2012

(b) Based on 2012 disclosed mineral reserves on an attributable basis

Conclusion