1、GLENCOE Glencore Half-Year Report 2023 NEWS RELEASE Baar,8 August 2023 Glencores Chief Executive Officer,Gary Nagle,commented:“The strength of our diversified business model across industrial and marketing,focusing on metals and energy,has again proved itself adept in a range of market conditions.“A

2、gainst the backdrop of a normalisation of commodity market imbalances and volatility,primarily across the energy spectrum,our Marketing and Industrial segments posted a healthy earnings performance,delivering Group Adjusted EBITDA of$9.4 billion,cash generated by operating activities of$8.4 billion

3、and Net income attributable to equity holders of$4.6 billion.“Reflecting these solid headline earnings,together with a$3.7 billion release of net working capital,including$1.4 billion of readily marketable inventories,net funding remained static over the period,after disbursing$5.2 billion of shareh

4、older returns,$2.5 billion of net capital expenditure and$2.7 billion of final 2022 tax payments in Australia and Colombia.Net debt finished the period at$1.5 billion.“Our shareholder returns framework of managing Net debt,in the ordinary course of business,around a$10 billion cap,with deleveraging

5、periodically returned to shareholders,informed todays announcement of additional“top-up”returns of c.$2.2 billion,lifting total announced shareholder returns this year to c.$9.3 billion.“As the world moves towards a low-carbon economy,we remain focused on supporting the energy needs of today whilst

6、investing in our transition metals portfolio.Over the year to date,we committed$1.25 billion,mainly on purchasing the balance of the large,long-life MARA copper project,not already held by Glencore,and acquiring a minority stake in Alunorte,a world class alumina refinery,thereby providing Glencore w