Glencore : AGM 2021

AGM

20

21

Our purpose

Responsibly sourcing the commodities that advance everyday life

IMPORTANT NOTICE CONCERNING THIS DOCUMENT INCLUDING FORWARDLOOKING STATEMENTS

This document contains, or incorporates by reference, statements thatare, or may be deemed to be, "forward-looking statements", which are prospective in nature. These forward- looking statements may be identified by the fact they do not relate only to historical or current facts, and/or by the use of forward-looking terminology, or the negative thereof, such as "outlook", "plans", "expects" or "does not expect", "continues", "assumes", "is subject to", "budget", "scheduled", "estimates", "aims", "forecasts", "potential", "targets", "risks", "intends", "commits", "positioned", "predicts", "projected", "plans", "achieves", "goals", "anticipates" or "does not anticipate", or "believes", or variations of such words or comparable terminology and phrases or statements that certain actions, events or results "may", "could", "should", "shall", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, commitments, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. Forward-looking statements can be made in writing butalso may be made verbally by members of the board or management of Glencore plc and/or its subsidiaries in connection with this document.

By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of Glencore plc or its subsidiaries. Forward- looking statements are not guarantees of future performance and may, and often do, differ materially from actual results. Important factors that could cause these uncertainties include, but are not limited to, those disclosed in Glencore plc's latest annual report (including, withoutlimitation, those in the Risk Management section), which is available on our website www.glencore.com.

For example, our future revenues from our assets, projects or mines will be based, in part, on the market price of the commodity products produced, which may vary significantly from current levels. These may materially affect the timing and feasibility of particular developments. Other factors include (without limitation) the ability to produce and transport products profitably, demand for our products, changes to the assumptions regarding the recoverable value of our tangible and intangible assets, the effect of foreign currency exchange rates on market prices and operating costs, commodity prices, developments and impacts (whether direct or indirect) in relation to the Covid-19 pandemic, the success of future acquisitions, disposals and other strategic transactions, evolving practices with regards to the interpretation and application of accounting and regulatory standards, the outcome of current and future legal proceedings and regulatory investigations, actions taken by governmental authorities, such as changes in legislation, taxation, policies, licensing or regulation, and/or political uncertainty.

Neither Glencore plc nor its subsidiaries, nor any of their associates, directors, officers, employees or advisers, provides any representation, warranty, assurance or guarantee that the occurrence of any actions, events or results expressed or implied in any forward-looking statements in this document or any related presentation will actually be taken, occur or be achieved. You should not place, and are cautioned against placing, relianceon these forward-looking statements, which only speak as of the date of this document or of the date of the particular statement (as applicable).

Except as required by law, neither Glencore plc nor any of its subsidiaries is under any obligation, and Glencore plc and itssubsidiaries expressly disclaim any intention, obligation or undertaking, to release publicly or to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise. This document shall not, under any circumstances, create any implication that there has been no change in the business or affairs of Glencore plc or any of its subsidiaries since the date of this document or that the information contained herein is correct as at any time subsequentto its date.

No statement in this document is intended as a profit forecast or a profit estimate, and past performance cannot be relied on as a guide to future performance. Nothing in this document shall, in any jurisdiction, constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities or financial instruments, nor shall it constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter.

The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only and where references are made to Glencore plc and/or its subsidiaries in general (as applicable). These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

2021 Annual General Meeting	2

HIGHLIGHTS

Ivan Glasenberg Chief Executive Officer

2021 AGM

2020 SCORECARD

Healthy cash	Resilient Industrial	Outstanding	Strong
generation	asset performance	marketing results	balance sheet

• Our adaptable business model adjusted quickly to the challenges of Covid-19
• $11.6bn Adj.EBITDA, flat y/y with stronger Marketing and Industrial metals offset by weaker coal prices
• Net income pre-significant items: $2.5bn, +2%
• Net cash capex: $3.9bn, -21%
• Equity free cash flow: $4.3bn, +65%
• Proposed $0.12/share
  ($1.6bn) 2021 distribution

• $7.8bn Adj.EBITDA -13% y/y: strong metals performance outweighed by weaker coal prices
• Metals: $7.3bn (+31%),
  Energy: $1.0bn (-73%)
• Early Covid-19 impacts followed by multi-year metal price highs for key commodities. Energy complex impacted by various supply/demand factors
• Cost/margin performance:
• • Cu 94c/lb: (-15c/lb y/y)
  • Zn -7c/lb:(-35c/lb y/y)
  • Ni 376c/lb: (-22c/lb y/y)
  • Coal $45.9/t ($11/t margin)

• $3.3bn Adj EBIT: +c.$1bn y/y (+41%)
• Strong performance from our major commodity trading units
• Energy $1.8bn, +$437M, driven by exceptional price movements/dislocations and logistics/storage demand
• Metals $1.7bn, +$578M: supportive market conditions and cobalt market challenges in 2019
• Viterra agricultural business: $211M ($58M in 2019) share of earnings

• Net debt $15.8bn, successfully repositioned within our $10-$16bn(1) target range. Targeting below the middle of the range by end 2021
• Available committed liquidity of $10.3bn; bond maturities capped at c.$3bn in any given year
• Spot illustrative free cash flow generation of c.$7.2bn from EBITDA of c.$16bn at the time of our February FY2020 results update

2021 Annual General Meeting	(1) Excluding Marketing finance lease liabilities in respect of previously classified operating leases required to be capitalised under IFRS 16.	4

SUSTAINABILITY PERFORMANCE

Fatalities

8

Employees & contractors ('000)

145k

CO2

Scope 1&2 (Mt)(2)

24.3

Community investment spend ($M)

95

16		13	17
	9		8
2016	2017	2018	2019	2020

155		158	160
	146			145
2016	2017	2018	2019	2020

34.7	33.4	30.5	29.2	24.3
2016	2017	2018	2019 2020

	90	95	90	95
81
2016	2017	2018	2019	2020

Total recordable injury frequency rate(1)

2.6

Lost time injury frequency rate(1)

0.94

CO2

Scope 3 (Mt)(2)

264

Environmental Incidents (category 4/5)(3)

0

3.7	3.1	3.2	2.9	2.6
2016	2017	2018	2019	2020

1.22	1.02	1.06	0.99	0.94
2016	2017	2018	2019	2020

284	273	296	347
264
2016	2017	2018	2019 2020

0	0	0	0	0
2016	2017	2018	2019	2020

2021 Annual General Meeting

(1) Per million hours worked. Lost time incidents (LTIs) are recorded when an employee or contractor is unable to work following an incident. LTIs are recorded when an incident results in lost days from the	5
first rostered day absent after the day of injury. The day of the injury is not included. LTIFR is the total number of LTIs recorded per million working hours. LTIs donot include Restricted Work Injuries (RWI)
and fatalities. TRIFR = Total sum of Fatalities, Lost Time Injuries, Restricted Work Injuries and Medical Treatment Injuries per million hours worked. (2) Data subject to final verification and may change. Scope

3 emissions from the use of sold products on an attributable basis. (3) Category 4 and 5 represents major and catastrophic incidents respectively