ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum – 2020 Annual Results
22 February 2021 8:00
Anglo American Platinum – 2020 Annual Results

(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
("Anglo American Platinum" or “the Company")


Financial Performance

2020 overview

 Key Financials                                                    2020           2019        % change
 Dollar basket price per PGM ounce sold                            2,035          1,347             51
 Rand basket price per PGM ounce sold                             33,320         19,534             71
 Revenue (R billion)                                               137.8           99.6             38
 Adjusted EBITDA (R billion)                                        41.6           30.0             39
 Adjusted EBITDA margin (Excluding trading) %                         43             32           11pp
 Headline earnings (R billion)                                      30.3           18.6             63
 Headline earnings per share (R/share)                            115.54          70.87             63
 Basic earnings (R billion)                                         30.3           18.5             64
 Basic earnings per share (R/share)                               115.53          70.46             64
 Net cash (R billion)                                               18.7           17.3              8
 Ordinary dividend per share (R/ share)                            45.58          27.60             65
 Special dividend per share (R/share)                                   -         25.00           (100)
 ROCE %                                                               72             58            14pp

Natascha Viljoen, CEO of Anglo American Platinum, commented:

“2020 has been a devastating year for many who have lost loved ones to Covid-19, and we pay our
respects to victims of the virus on behalf of everyone at Anglo American Platinum. We regrettably lost
our colleague Lindile Manzingi, in a fall of ground incident at Amandelbult mine. We extend our deepest
condolences to family, friends and colleagues. We are particularly proud of the support we have given
to our employees and communities during the Covid-19 pandemic, contributing R2.1 billion to protect
lives and livelihoods. Despite the impact of Covid-19 on operations we saw metal-in-concentrate
production decrease by only 14% for the year, with a strong recovery in the second half, up 1% against
H2 2019. For the year, we delivered record EBITDA, increasing 39% to R42 billion, due to a strong
basket price driven by robust fundamentals for our metals as well as cost saving benefits. We also saw
an improvement in ROCE to 72%, and a net cash position of R19 billion (including customer
prepayment) due to continuous balance sheet management. We are committed to disciplined capital
allocation and continued our base dividend pay-out of 40% of headline earnings. The Board has
therefore declared a final dividend of R35.35 per share. I am excited about the impact we will make and
the value we will return to stakeholders in our purpose-led journey and I feel proud of the achievements
of the Anglo American Platinum team who steered through the head-winds and challenges in 2020 with
courage and commitment to ‘Re-imagine mining to improve people’s lives’.”
Short form announcement

This short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the full announcement and does not contain full or complete details. Any
investment decision should be based on the full announcement accessible from Monday, 22 February
2021, via the JSE link and also available on the Company’s website at

These annual results have been audited by the Group’s auditors, PricewaterhouseCoopers Inc. who
expressed an unqualified opinion thereon. A key audit matter relating to quantities and measurement
of metal inventory is addressed in the unqualified opinion of PricewaterhouseCoopers Inc. This opinion
is available, along with the annual financial statements on the Company’s website at

Copies of the full announcement may also be requested by contacting Anglo American Platinum
Investor Relations by email at and are available for inspection
at the Company’s registered office at no charge, weekdays during office hours. This short-form
announcement has not been audited or reviewed by the company’s auditors.

The JSE link is as follows:

Johannesburg, South Africa

22 February 2021

Sponsor: Merrill Lynch South Africa Proprietary Limited

For further information, please contact:
Investors:                                      Media:
Emma Chapman                                    Jana Marais
(SA) +27 (0) 11 373 6239                        (SA) +27 (0) 11 638 2607        

Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s
leading primary producer of platinum group metals. The company is listed on the Johannesburg
Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa.
Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum
has a number of joint ventures with several historically disadvantaged South African consortia as part
of its commitment to the transformation of the mining industry. Anglo American Platinum is committed
to the highest standards of safety and continues to make a meaningful and sustainable difference in
the development of the communities around its operations.

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 mining operations and
undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world
and that meet the fast growing consumer-driven demands of the world’s developed and maturing
economies. With our people at the heart of our business, we use innovative practices and the latest
technologies to discover new resources and mine, process, move and market our products to our
customers around the world – safely, responsibly and sustainably.

As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore,
coal, nickel and manganese – we are the custodians of what are precious natural resources. We work
together with our business partners and diverse stakeholders to unlock the sustainable value that those
resources represent for our shareholders, the communities and countries in which we operate, and for
society as a whole. Anglo American is re-imagining mining to improve people’s lives.

Date: 22-02-2021 08:00:00
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