Glencore Xstrata Half-Yearly Report 2013 Dienstag, 20. August 2013 - 08:09

Glencore Xstrata plc - Half-Yearly Results 2013

To download the full 2013 half-yearly report, click here: http://www.glencorexstrata.com/assets/Investors/GLEN-Half-Yearly-Report-2013.pdf

HIGHLIGHTS • Solid results with particularly pleasing overall performance in Marketing. • A May Xstrata transaction close meant little synergy benefits recognised in H1 2013, but now flowing strongly. • Adjusted pro forma EBITDA of $6.0 billion compared to $6.6 billion in H1 2012, down 9%. – Industrial pro forma EBITDA of $4.7 billion, down 14%, driven by weaker prices in core commodities, cushioned by volume improvements. • Adjusted pro forma EBIT of $3.2 billion versus $4.4 billion in H1 2012, down 28%. – Marketing EBIT of $1.2 billion, up 6% period on period with strong metals and energy more than offsetting a slow start in agriculture. • Highly attractive positions envisaged on the industry cost curves as current development programmes near completion within the next 12-18 months. • Strong 6 months’ pro forma cash flow generation despite the weaker commodity pricing backdrop, with FFO of $4.3 billion and rolling 12 months’ FFO/Net debt of 28.2%. • As expected, net debt has increased while the Group executes the final stages of its large growth pipeline, however pro forma net funding is only up $1.4 billion due to a substantial (primarily inventories) working capital release. – Flexibility of the balance sheet has once more been demonstrated. – Over $13.6 billion of committed available liquidity. • Board has declared an interim dividend of $0.054 per share, in line with 2012, reflecting our continued confidence in the prospects for the group and the strength and flexibility of our balance sheet. • Board reconstruction process commenced with the appointment of three new Directors: John Mack, Peter Grauer and Peter Coates. • Progress made in integrating Xstrata has exceeded our expectations, enabled by timely preparation and decisive action. Achievable synergies / cost savings will be materially in excess of previous guidance of $500 million p.a.. • Fundamental portfolio review process launched and in progress. – Focus on defining core assets. – Las Bambas sale process underway. – Sale of Australian malt business agreed on 5 August. • Statutory Day One goodwill impairment of $7.6 billion was recorded in relation to the Xstrata acquisition, reflecting the broader negative mining industry environment / sentiment which prevailed during H1 2013 and the heightened risks associated with greenfield and large scale expansion projects (refer page 59). • 10 September Investor Day to provide a comprehensive update on expected synergies and portfolio review.

Ivan Glasenberg, CEO, commented:

"'The first half of 2013 has been a transformational period for Glencore. We completed the merger with Xstrata and have made excellent progress integrating the businesses. The synergies / cost savings from the merger will be materially in excess of previous guidance, based on timely preparation and decisive action. As we look ahead, we remain focused on the disciplined allocation of capital as well as robustly scrutinising all pre-existing capital plans of the enlarged entity. We continue to work tirelessly and diligently to maximise returns on our capital and to our shareholders."

We will host an investor conference call to discuss the Half-Yearly Results 2013 at 9.00 UK time on Tuesday, 20 August 2013 . Dial-in details can be found below.

Webcast: http://www.media-server.com/m/p/rhp8vs34

Local - London, United Kingdom: +44(0)20 3427 1912 National free phone - United Kingdom: 0800 279 5004 Local - New York, USA: +1646 254 3367 National free phone - USA: 1877 280 2342 Local - Hong Kong, Hong Kong: +8523068 9885 National free phone - Hong Kong: 800 905 743 Local - Geneva, Switzerland: +41(0)22 567 5431 National free phone - Switzerland: 0800 345 603 Local - Johannesburg,South Africa: +2711 019 7075 National free phone - South Africa: 0800 991 539

Password: 72 89 202

For further information, please contact:

Paul Smith (Investors) Charles Watenphul (Media) John Burton (Company Secretary) t: +41 (0)41 709 2487 t: +41 (0)41 709 2462 t: +41 (0)41 709 2619 m: +41 (0)79 947 1348 m:+41 (0)79 904 3320 m: +41 (0)79 944 5434 e: paul.smith@glencore.com e: charles.watenphul@glencore.com e: john.burton@glencore.com

Martin Fewings (Investors) Elisa Morniroli (Investors) Finsbury (Media) t: +41 (0)41 709 2880 t: +41 (0)41 709 2818 Guy Lamming m: +41 (0)79 737 5642 m: +41 (0)79 833 0508 Dorothy Burwell e: martin.fewings@glencore.com e: elisa.morniroli@glencore.com t: +44 (0)20 7251 3801

About Glencore Xstrata plc

Glencore Xstrata is one of the world’s largest global diversified natural resource companies. As a leading integrated producer and marketer of commodities with a well-balanced portfolio of diverse industrial assets, we are strongly positioned to capture value at every stage of the supply chain, from sourcing materials deep underground to delivering products to an international customer base. The Group’s industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries. Our diversified operations comprise over 150 mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. We employ approximately 190,000 people, including contractors.