Wrap Text
Shareholder Communication
AngloGold Ashanti plc
(Incorporated in England and Wales)
Registration No. 14654651
LEI No. 2138005YDSA7A82RNU96
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE Share code: AU
JSE Share code: ANG
("AngloGold Ashanti", "AGA" or the
"Company")
Shareholder Communication
The Company has issued the following shareholder communication, the content is set out below without
amendment.
DEAR SHAREHOLDERS,
Ahead of our upcoming general meeting of shareholders of AngloGold Ashanti plc (the "Company") on 23
July 2026 (the "Meeting"), we are writing to provide additional context regarding the resolution to approve
the terms of the share repurchase contracts (the "Resolution") in connection with the proposed share
repurchase programme for the Company's ordinary shares of up to $2.0bn (the "Programme"), as set out in
the notice of meeting dated 1 July 2026 (the "Notice of Meeting").
We are asking for your support in voting "FOR" the Resolution, as recommended by the Board of
Directors.
Several proxy advisory services have issued voting reports with respect to the Resolution, including Glass
Lewis & Co. ("Glass Lewis") and Institutional Shareholder Services ("ISS"). While Glass Lewis recommends
a "for" vote, ISS recommends voting against the Resolution. We believe the information provided below will
assist you in better understanding our recommendation.
Unless stated otherwise, defined terms used in this letter have the same meaning as in the Notice of
Meeting.
Aligning With Our Capital Markets Reality
Although incorporated in the UK, the Company is a global gold producer with its primary listing on the New
York Stock Exchange (NYSE: AU) membership in the Russell 3000 Index and its global headquarters in
Denver, Colorado. In addition, the Company's shares are not listed on the London Stock Exchange. While
the Board understands ISS's structural application of its U.K. & Ireland Voting Guidelines (the "UK
Guidelines") based on the Company's place of incorporation, the Board views the requested shareholder
authority as equipping the Company with the same financial agility as its direct peer group, which consists
primarily of North American gold producers. These companies routinely leverage large-value, long-term
buyback authorizations to optimise shareholder returns. Adopting this framework ensures that the Company
is not operating at a structural disadvantage when competing for global equity capital.
The Programme is a natural progression of our capital allocation framework, driven by the Board's
confidence in the Company's cash generation capabilities and long-term financial outlook. It establishes an
efficient mechanism to return capital to shareholders, without disrupting our core operational funding.
Long-Term Flexibility
While ISS advises, under the UK Guidelines, that an authority for market purchases of ordinary shares
should be limited to 18 months, a five-year authority is consistent with UK company law. A multi-year
mandate allows management to execute repurchases in line with the strategic goals of the Company while
accounting for the inherent unpredictability of the global markets and economy, rather than being bound by
short-term, arbitrary renewal timelines.
Additionally, regardless of the authorised period, the Programme is limited in all respects by the aggregate
$2.0bn repurchase volume (the "Aggregate Cap"). Given the Aggregate Cap, the Board does not consider
that the five-year authorised period gives rise to any increased corporate governance risk.
The Board firmly believes the Resolution is in the best interests of the Company's shareholders, ensuring
that capital returns coexist with rigorous balance sheet management.
Please do not hesitate to contact us by email at investors@anglogoldashanti.com should you wish to
discuss our recommendation. On behalf of the Board, thank you for your continued support of AngloGold
Ashanti.
Yours faithfully,
Jochen Tilk
Chair, AngloGold Ashanti plc
13 July 2026
ENDS
London, Johannesburg, Denver
JSE Sponsor: The Standard Bank of South Africa Limited
Date: 13-07-2026 12:16:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
