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Annual Financial Report and Notice of AGM
Anglo American plc (the “Company”)
Registered office: 17 Charterhouse Street, London EC1N 6RA
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
7 March 2022
ANNUAL FINANCIAL REPORT AND NOTICE OF AGM
In accordance with Listing Rule 9.6 and Disclosure Guidance and Transparency Rule (“DTR”) 4.1, the
Company announces that the following documents are today published on its website:
www.angloamerican.com
• Integrated Annual Report for the year ended 31 December 2021 (the “2021 Annual Report”)
• Notice of the 2022 Annual General Meeting (“AGM”) to be held on 19 April 2022
• Sustainability Report 2021
• Ore Reserves and Mineral Resources Report 2021
• Tax and Economic Contribution Report 2021
The 2021 Annual Report, Notice of the 2022 AGM and the 2022 AGM proxy form (“Proxy Form”) have
been submitted to the Financial Conduct Authority via the National Storage Mechanism and will
shortly be made available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The above mentioned documents (except for the Proxy Form) are available on our website at
www.angloamerican.com/investors/annual-reporting and
www.angloamerican.com/investors/shareholder-information/agm/agm2022 respectively, and will be
posted to shareholders on 17 March 2022. Shareholders can obtain additional copies of the Proxy
Form from our Registrar, Equiniti Limited at Aspect House, Spencer Road, Lancing, West Sussex
BN99 6DA or view online at www.shareview.co.uk.
This announcement should be read in conjunction with the Company’s Preliminary Results
announcement issued on 24 February 2022. Together these constitute the material required by DTR
6.3.5 to be communicated to the media in full unedited text through a Regulatory Information Service.
This material is not a substitute for reading the Company’s 2021 Annual Report. Page references and
references to notes to the financial statements, refer to those contained in the 2021 Annual Report.
An indication of the important events that occurred in 2021 and their impact on the consolidated
financial statements and the consolidated financial statements themselves were announced to the
London Stock Exchange on 24 February 2022, forming part of the Preliminary Results announcement
for the year ended 31 December 2021. Additional content forming part of the management report are
set out in the appendices to this announcement.
Clare Davage
Deputy Company Secretary
Anglo American is a leading global mining company and our products are the essential ingredients in
almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad
range of future development options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions
of consumers. With our people at the heart of our business, we use innovative practices and the latest
technologies to discover new resources and to mine, process, move and market our products to our
customers - safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium
quality iron ore and metallurgical coal for steelmaking, and nickel - with crop nutrients in development
- we are committed to being carbon neutral across our operations by 2040. More broadly, our
Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a
healthy environment, creating thriving communities and building trust as a corporate leader. We work
together with our business partners and diverse stakeholders to unlock enduring value from precious
natural resources for the benefit of the communities and countries in which we operate, for society as
a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.
www.angloamerican.com
Forward-looking statements and third-party information
This announcement includes forward-looking statements. All statements other than statements of historical facts included in
this document, including, without limitation, those regarding Anglo American’s financial position, business, acquisition and
divestment strategy, dividend policy, plans and objectives of management for future operations, prospects and projects
(including development plans and objectives relating to Anglo American’s products, production forecasts and Ore Reserve and
Mineral Resource positions) and sustainability performance related (including environmental, social and governance) goals,
ambitions, targets, visions, milestones and aspirations, are forward-looking statements. By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of Anglo American or industry results to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo American’s present and future
business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause
Anglo American’s actual results, performance or achievements to differ materially from those in the forward-looking statements
include, among others, levels of actual production during any period, levels of global demand and commodity market prices,
mineral resource exploration and project development capabilities and delivery, recovery rates and other operational
capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases,
natural catastrophes or adverse geological conditions, climate change and extreme weather events, the outcome of litigation or
regulatory proceedings, the availability of mining and processing equipment, the ability to produce and transport products
profitably, the availability of transport infrastructure, the development, efficacy and adoption of new technology, the impact of
foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation,
political uncertainty, tensions and disputes and economic conditions in relevant areas of the world, evolving societal and
stakeholder requirements and expectations, the actions of competitors, activities by courts, regulators and governmental
authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of
Anglo American’s assets and changes in taxation or safety, health, environmental or other types of regulation in the countries
where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in
Anglo American’s most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk
factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only
as of the date of this document. Anglo American expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the
Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SIX
Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to
release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in
Anglo American’s expectations with regard thereto or any change in events, conditions or circumstances on which any such
statement is based.
Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will necessarily match
or exceed its historical published earnings per share. Certain statistical and other information about Anglo American included in
this document is sourced from publicly available third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American and
Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.
APPENDIX A – Principal risks
We define a principal risk as a risk or combination of risks that would threaten the business model,
future performance, solvency or liquidity of Anglo American. In addition to these principal risks, we
continue to be exposed to other risks related to currency, inflation, community relations, environment,
litigation and regulatory proceedings, changing societal expectations, infrastructure and human
resources. These risks are subject to our normal procedures to identify, implement and oversee
appropriate mitigation actions, supported by internal audit work to provide assurance over the status
of controls or mitigating actions. These principal risks are considered over the next three years as a
minimum, but we recognise that many of them will be relevant for a longer period.
For more on Principal risks see pages 62 – 67
Catastrophic risks
We also face certain risks that we deem catastrophic risks. These are very high severity, very low
likelihood events that could result in multiple fatalities or injuries, an unplanned fundamental change
to strategy or the way we operate, and have significant financial consequences. We do not consider
likelihood when assessing these risks, as the potential impacts mean these risks must be treated as a
priority. Catastrophic risks are included as principal risks.
For more on catastrophic risks see page 62
Risk appetite
We define risk appetite as ‘the nature and extent of risk Anglo American is willing to accept in relation
to the pursuit of its objectives’. We look at risk appetite from the context of severity of the
consequences should the risk materialise, any relevant internal or external factors influencing the risk,
and the status of management actions to mitigate or control the risk. A scale is used to help determine
the limit of appetite for each risk, recognising that risk appetite will change over time.
If a risk exceeds appetite, it will threaten the achievement of objectives and may require a change to
strategy. Risks that are approaching the limit of the Group’s risk appetite may require management
actions
to be accelerated or enhanced to ensure the risks remain within appetite levels.
For catastrophic and operational risks, our risk appetite for exceptions or deficiencies in the status of
our controls that have safety implications is very low. Our internal audit programme evaluates these
controls with technical experts at operations and the results of that audit work will determine the risk
appetite evaluation, along with the management response to any issues identified.
For more on the risk management and internal control systems and the review of their effectiveness
See pages 133-134
Summary
Our risk profile evolved in 2021. The global economy partly recovered from the negative impacts of
the Covid-19 pandemic, which helped ease macro-economic risks. Conversely, we consider political
risks to have increased as a result of the potential for armed conflict involving major world powers as
well as national political tensions in certain countries, elevated partly due to the Covid-19 pandemic.
An outcome of our periodic reviews of risks impacting the business was that we elevated two risks to
Principal Risks – (1) community and social relations and (2) regulatory and permitting, both of which
are influenced by an evolving socio-political landscape and stakeholder expectations. Climate change
is the defining challenge of our era and our unequivocal commitment to being part of the global
response presents both opportunities and risks. A number of our Principal Risks are directly or
indirectly related to climate change and our strategies to reduce its impact on our business and the
planet.
Our catastrophic risks are the highest priority risks, given the potential consequences.
1. Catastrophic risks
We are exposed to the Impact: Multiple fatalities and Risk appetite: Operating
following risks we deem as injuries, damage to assets, within the limits of our appetite.
potentially catastrophic: environmental damage,
tailings dam failure; slope production loss, reputational Commentary: These very high
wall failure; mineshaft damage and loss of licence to impact but very low frequency
failure; and fire and operate. Financial costs risks are treated with the
explosion. associated with recovery and highest priority.
liability claims may be
Root cause: Any of these risks significant. Regulatory issues
may result from inadequate may result and community
design or construction, adverse relations may be affected.
geological conditions,
shortcomings in operational Mitigation: Technical
performance, natural events standards exist that provide
such as seismic activity or minimum criteria for design
flooding, and failure of and operational performance
structures or machinery and requirements, the
equipment. implementation of which is
regularly inspected by
technical experts. Additional
assurance work is conducted
to assess the adequacy of
controls associated with these
risks.
2. Product prices
Global macro-economic Impact: Low product prices Risk appetite: Operating
conditions leading to can result in lower levels of within the limits of our appetite.
sustained low product prices cash flow, profitability and
and/or volatility. valuation. Debt costs may rise Commentary: We believe
owing to ratings agency macro-economic uncertainty
Root cause: Factors that downgrades and the possibility has reduced in 2021 as a
could contribute to this risk of restricted access to funding. result of partial global
include armed conflict involving The Group may be unable to economic recovery following
major world powers, trade war complete any divestment the Covid-19 pandemic.
between major economies, programme within the desired However, future uncertainties
economic slowdown in a timescales or achieve remain that may result in price
leading economy and a expected values. The capacity volatility in the products mined,
disrupted recovery from the to invest in growth projects is and marketed, by
Covid-19 pandemic as a result constrained during periods of Anglo American.
of new variants being resistant low product prices – which
to vaccines. may, in turn, affect future
performance.
Mitigation: Maintaining a
conservative balance sheet
and proactive management of
debt facilities and the delivery
of cash improvement and
operational performance
targets are the key mitigation
strategies for this risk. Regular
updates of economic analysis
and product price assumptions
are discussed with executive
management and the Board.
3. Cyber security
Loss or harm to our Impact: Theft or loss of Risk appetite: Operating
technical infrastructure and intellectual property, financial within the limits of our appetite.
the use of technology within losses, increased costs,
the organisation from reputational damage and Commentary: During 2021,
malicious or unintentional operational disruption. we further strengthened our
sources. control environment. Our
Mitigation: We have a controls responded as planned
Root cause: Attacks motivated dedicated Global Information and no cyber attack attempt
by fraud and/or access to Management Security team resulted in negative impacts for
sensitive data or information. with appropriate specialist Anglo American.
third-party support to oversee
our network security. We have
achieved UK Cyber Essentials
Certification and an ongoing
cyber awareness programme
is in place across the Group.
4. Political
Global, regional and Impact: Global supply chains Risk appetite: Operating
national political tensions may be impacted by the threat within the limits of our appetite.
and disputes may negatively of or actual disputes between
impact our business. major economies. Regional Commentary: Global
and national political tensions economic conditions can have
Root cause: Geo-political may result in social unrest a significant impact on
disputes between major affecting our operations and countries whose economies
economic countries, regional employees. Uncertainty are exposed to commodities,
and national political tensions. over future business conditions placing greater pressure on
The effectiveness of national leads to a lack of confidence in governments to find alternative
governance in countries in making investment decisions, means of raising revenues,
which we operate may be which can influence future and increasing the risk of
compromised by corruption, financial performance. social and labour unrest.
weak policy framework and Increased costs can be
ineffective enforcement of the incurred through additional
law. regulations or resource taxes,
while the ability to execute
strategic initiatives that reduce
costs or divest assets may also
be restricted, all of which may
reduce profitability and affect
future performance. These
may adversely affect the
Group’s operations or
performance of those
operations.
Mitigation: Anglo American
has an active engagement
strategy with governments,
regulators and other
stakeholders within the
countries in which we operate,
or plan to operate, as well as at
an international level. We
make significant efforts to
contribute to public policy
objectives such as socio-
economic development to
demonstrate the broader value
of our presence. We assess
portfolio capital investments
against political risks and avoid
or minimise exposure to
jurisdictions with unacceptable
risk levels. We actively monitor
regulatory and political
developments at a national
level, as well as global themes
and international policy trends,
on a continuous basis. See
page 15 for more detail on how
we engage with our key
stakeholders.
5. Community and Social Relations
Failure to maintain healthy Impact: A breakdown in trust Risk appetite: Operating
relationships with local with local communities and within the limits of our appetite.
communities and society society at large threatens
at large. Anglo American’s ‘licence to Commentary: Through the
operate’, potentially leading to Social Way, we ensure that
Root cause: Failure to identify, increased costs, future growth policies and systems are in
understand and respond to being impacted, business place at all Anglo American
community and societal needs interruption and reputational managed sites to support
and expectations. damage. effective engagement with
communities, avoid or minimise
Mitigation: The Anglo adverse social impacts, and
American Social Way is our maximise development
integrated management opportunities. For further
system for social performance, information on how we engage
adopted and implemented at with key stakeholders, see
all managed sites. page 15.
6. Safety
Failure to eliminate fatalities. Impact: A fatal incident is Risk appetite: Operating
devastating for the bereaved within the limits of our appetite.
Root cause: Fatalities may family, friends and colleagues.
result from operational leaders, Over the longer term, failure to Commentary: We continue to
employees and contractors provide a safe working experience an overall
failing to apply safety rules and environment threatens our improvement in our safety
poor hazard identification licence to operate. performance. During 2021,
and control, including non there was one work-related
compliance with critical Mitigation: All operations fatality in our managed
controls. continue to implement safety operations, compared with two
improvement plans, with a in 2020. Management remains
focus on: effective fully committed to the
management of critical controls elimination of fatalities.
required to manage significant
safety risks; learning from high
potential incidents and
hazards; embedding a safety
culture; and leadership
engagement and
accountability. Our Elimination
of Fatalities Taskforce
oversees targeted
improvement initiatives to
further improve safety
performance.
7. Climate change
Climate change is the Impact: Potential loss of Risk appetite: Operating
stakeholder confidence, within the limits of our appetite.
defining challenge of our era negative impact on reputation,
and our commitment to financial performance and Commentary: For more
being part of the global valuation. information on our Sustainable
response presents both Mining Plan and climate
opportunities and risks. Mitigation: We have change policy, see pages 38–
articulated our climate change 39 and 43–44, and for further
Root cause: We are plans, policies and progress information on how we engage
committed to the alignment of and engage with key with key stakeholders, see
our portfolio with the needs of stakeholders to ensure they page 15.
a low carbon world in a understand them. Our
responsible manner; however, Sustainable Mining Plan
different stakeholder includes operation-specific and
expectations continue to Group targets for reductions in
evolve and are not always carbon emissions, power and
aligned. Long term demand for water usage.
metals and minerals mined and
marketed by Anglo American
may deviate from assumptions
based on climate change
abatement initiatives.
Changing weather patterns
and an increase in extreme
weather events may impact
operational stability and our
local communities. Our Scopes
1 and 2 carbon emission
reduction targets are partly
reliant on new technologies
that are at various stages of
development, and our Scope 3
reduction ambition is reliant on
the adoption of greener
technologies in the steel
making industry.
8. Regulatory and permitting
Failure to comply with Impact: Delays to projects and Risk appetite: Operating
permitting and other mining disruption to existing within the limits of our appetite.
regulations. operations, delays in deploying
new technologies that support Commentary: Annual
Root cause: Regulations future growth and sustainability assessments of compliance
impacting the mining industry objectives, legal claims and with the Anglo American
are evolving as a result of regulatory actions, fines and Minimum Permitting
political developments, reputational damage. Requirements are undertaken,
changes in societal as well as periodic
expectations and the public Mitigation: All operations must independent audits.
perception of mining activities. comply with our Minimum
Failure to comply with Permitting Requirements,
management processes will which is a management
threaten the ability to adhere to system to ensure necessary
regulations and permits. permits and other regulatory
requirements are identified and
embedded in life of asset plans
and management routines.
Through our Sustainable
Mining Plan we make
considerable efforts to meet
community aspirations for
socio-economic development
and carefully manage the
environmental impacts of our
business to avoid causing
harm and nuisance
9. Operational Performance
Unplanned operational Impact: : Inability to achieve Risk appetite: Operating
stoppages affecting production, cash flow or within the limits of our appetite.
production and profitability. profitability targets. There are
potential safety-related risks Commentary: There were no
Root cause: Failure to associated with unplanned material unplanned operational
implement and embed our operational stoppages, along incidents in 2021.
Operating Model, maintain with a loss of investor
critical plant, machinery and confidence.
infrastructure, and operate in
compliance with Mitigation: Implementation of
Anglo American’s Technical our Operating Model and
Standards will affect our compliance with Technical
performance levels. We are Standards, supported by
also exposed to risks of operational risk management
interruptions of power supply and assurance processes, is
and the failure of third-party- the key mitigation against this
owned and -operated risk. Regular tracking and
infrastructure, e.g. rail monitoring of progress against
networks and ports. Our the underlying production and
operations may also be EBITDA targets is undertaken
exposed to natural
catastrophes and extreme
weather events.
10. Pandemic
Large scale outbreak Impact: As has been Risk appetite: Operating
of infectious disease witnessed by the Covid-19 within the limits of our appetite.
increasing morbidity and pandemic, widespread
mortality over a wide consequences include the Commentary: For more
geographic area. physical and mental health and information on our response to
well-being of our people and the Covid-19 pandemic see
Root cause: Human local communities; economic page 55.
population growth, shocks and disruption; social
urbanisation, changes in land unrest; an increase in political
use, loss of biodiversity, stresses and tensions, a rise in
exploitation of the natural criminal acts and the potential
environment, viral disease from for increased resource
animals, and increased global nationalism.
travel and integration are all
contributory causes of health Mitigation: Anglo American
pandemics. actively monitors global
pandemic-potential diseases.
In the event of a pandemic, our
Group Crisis Management
Team is activated at an early
stage to direct the Group’s
response, prioritising the well-
being of our people, their
families and our host
communities, and ensuring the
continuity of the operations.
11. Corruption
Bribery or other forms of Impact: Potential criminal Risk appetite: Operating
corruption committed by an investigations, adverse media within the limits of our appetite.
employee or agent of Anglo attention and reputational
American.
damage. A possible negative Commentary: Group
Root cause: Anglo American impact on licensing processes Compliance Committee
has operations in some and valuation. oversees the organisation’s
countries where there is a anti-bribery management
higher prevalence of Mitigation: A comprehensive system to ensure its continuing
corruption. anti-bribery and corruption suitability, adequacy and
policy and programme, effectiveness.
including risk assessment,
training and awareness, with
active monitoring, are in place.
12. Water
Inability to obtain or sustain Impact: Loss of production Risk appetite: Operating
the level of water security and inability to achieve cash within the limits of our appetite.
needed to support flow or volume improvement
operations over the current targets. Damage to Commentary: This continues
life of mine plan or future stakeholder relationships or to be a risk to the majority of
growth options. reputational damage can result our operations. For more
from failure to manage this information on our Sustainable
Root cause: Poor water critical resource. Mining Plan, see pages 38–39.
resource management or
inadequate on-site storage, Mitigation: Various projects
combined with reduced water have been implemented at
supply at some operations as operations most exposed to
weather patterns change, can this risk, focused on: water
affect production. Water is a efficiency; water security; water
shared resource with local treatment; and discharge
communities and permits to management; as well as
use water in our operations are alternative supplies. New
at risk if we do not manage the technologies are being
resource in a responsible and developed that will reduce
sustainable manner. water demand.
13. Future demand
Demand for metals and Impact: Potential for negative Risk appetite: Operating
minerals produced and impact on revenue, cash flow, within the limits of our appetite.
marketed by Anglo American profitability and value.
may deviate from our Commentary: We monitor new
assumptions. Mitigation: Regular reviews of business opportunities in line
production and financial plans, with our strategy to secure,
Root cause: Technological as well as longer term portfolio develop and operate a portfolio
developments and/or product decisions, are based on of high quality and long life
substitution leading extensive research. Our mineral assets, from which we
to reduced demand, growth in businesses invest in marketing will deliver leading shareholder
the circular economy and shifts and other activities to enhance returns.
in consumer preferences. the inherent value of the
products we produce, including
building consumer confidence
in the ethical provenance of
our products.
APPENDIX B – Related party transactions
35. RELATED PARTY TRANSACTIONS
The Group has related party relationships with its subsidiaries, joint operations, associates and joint
ventures (see notes 34 and 35). Members of the Board and the Group Management Committee are
considered to be related parties.
The Company and its subsidiaries, in the ordinary course of business, enter into various sale,
purchase and service transactions with joint operations, associates, joint ventures and others in which
the Group has a material interest. These transactions are under terms that are no less favourable to
the Group than those arranged with third parties.
Associates Joint ventures Joint operations
US$ million 2021 2020 2021 2020 2021 2020
Transactions with related parties
Sale of goods and services – – – – 158 87
Purchase of goods and services – (28) (169) (197) (3,466) (1,985)
Balances with related parties
Trade and other receivables from related parties – – 1 1 18 21
Trade and other payables to related parties – (38) (16) (31) (273) (157)
Loans receivable from related parties 2 – 76 154 – –
Balances and transactions with joint operations or joint operation partners represent the portion that
the Group does not have the right to offset against the corresponding amount recorded by the
respective joint operations. These amounts primarily relate to purchases by De Beers and Platinum
Group Metals from their joint operations in excess of the Group’s attributable share of their
production.
Loans receivable from related parties are included in Financial asset investments on the Consolidated
balance sheet.
Remuneration and benefits received by directors are disclosed in the Remuneration report.
Remuneration and benefits of key management personnel, including directors, are disclosed in note
26. Information relating to pension fund arrangements is disclosed in note 27.
APPENDIX C – Statement of directors’ responsibilities in respect of the financial statements
The directors are responsible for preparing the Integrated Annual Report and the financial statements
in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that
law the directors have prepared the Group financial statements in accordance with UK-adopted
International Accounting Standards and the Parent Company financial statements in accordance with
United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards,
comprising FRS 101 “Reduced Disclosure Framework”, and applicable law).
Under company law, directors must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the Group and Parent Company and of the profit
or loss of the Group for that period.
In preparing the financial statements, the directors are required to:
• Select suitable accounting policies and then apply them consistently
• State whether applicable UK-adopted International Accounting Standards have been
followed for the Group financial statements and United Kingdom Accounting Standards,
comprising FRS 101 have been followed for the Parent Company financial statements,
subject to any material departures disclosed and explained in the financial statements
• Make judgements and accounting estimates that are reasonable and prudent
• Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Group and Parent Company will continue in business
The directors are responsible for safeguarding the assets of the Group and Parent Company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are also responsible for keeping adequate accounting records that are sufficient to show
and explain the Group’s and Parent Company’s transactions and disclose with reasonable accuracy
at any time the financial position of the Group and Parent Company and enable them to ensure that
the financial statements and the Directors’ Remuneration Report comply with the Companies Act
2006.
The directors are responsible for the maintenance and integrity of the Parent Company’s website.
Legislation in the United Kingdom governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
Directors’ responsibility statement
for the year ended 31 December 2021
The directors consider that the Integrated Annual Report and accounts, taken as a whole, is fair,
balanced and understandable and provides the information necessary for shareholders to assess the
Group’s and Parent Company’s position and performance, business model and strategy.
We confirm that to the best of our knowledge:
• The Group financial statements, which have been prepared in accordance with UK-adopted
international accounting standards, give a true and fair view of the assets, liabilities,
financial position and profit of the Group
• The Parent Company financial statements, which have been prepared in accordance with
United Kingdom Accounting Standards, comprising FRS 101, give a true and fair view of the
assets, liabilities and financial position of the Parent Company
• The Strategic Report includes a fair review of the development and performance of the
business and the position of the Group and Parent Company, together with a description of
the principal risks and uncertainties that it faces
By order of the Board
Mark Cutifani Stephen Pearce
Chief Executive Finance Director
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: 07-03-2022 11:00:00
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