Despite economic downturn, EBITDA was $9.7 billion, 11% lower than the record profitability achieved in 2007

Record annual production of platinum, coking coal, thermal coal, mined nickel, zinc in concentrate and lead in concentrate

Record thermal and coking coal and ferrochrome contracts settled during 2008

Real cost savings of $184 million achieved from productivity improvements, despite ongoing cost pressures

Successful commissioning and ramp up of new, lower cost production and integration of Resource Pacific, Jubilee and Tahmoor acquisitions

$5.5 billion new revolving debt facility extends debt maturity with no significant refinancing requirements until 2011

Proactive and decisive response to financial crisis: curtailment or suspension of marginal operations; substantial reductions in capital expenditure; and significant operating cost savings

2 for 1 rights issue to raise approximately $5.9 billion secures strong balance sheet, maintains commitment to investment grade and positions Xstrata to emerge from downturn in position of strength

$2 billion acquisition of world-class Prodeco coal operations from Glencore concurrently with rights issue

Net debt of $16.3 billion at end 2008 with gearing of 40%, improving to gearing of less than 30% post-conclusion of the rights issue