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2016 and beyond with optimism. Although the third quarter of 2016 has seen a slower start

than budgeted which has resulted in a small reduction in our FY 2016 target gold production to

between 69,000 to 71,000 ounces, I believe that during the course of H1 2016, we have

demonstrated that our strategy can deliver success, and that we have built a strong platform

for increasing profitability and cash generation.

The outlook for metal prices still remains uncertain. However, the increase in prices during the

first eight months of 2016 is obviously beneficial to us and we hope marks the start of a

sustained recovery in prices.

Appreciation

I would like to take this opportunity to thank our Anglo Asian senior management team and

employees, partners, the Government of Azerbaijan, advisers and fellow directors for their

support as we continue to develop Anglo Asian. I would also like to especially thank our

shareholders for their invaluable support as we look forward to a successful 2016 and beyond.

Khosrow Zamani

Non-executive Chairman

9 September 2016

Anglo Asian Mining plc

Condensed group income statement

Six months ended 30 June 2016

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