HARMONY GOLD MINING COMPANY LIMITED - Harmony delivers another stellar half year operational performance

Harmony delivers another stellar half year operational performance

Harmony Gold Mining Company Ltd
Registration number: 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
("Harmony" or the "company")

HARMONY DELIVERS ANOTHER STELLAR HALF YEAR OPERATIONAL PERFORMANCE ON
THE BACK OF HIGHER UNDERGROUND RECOVERED GRADES AND OPERATIONAL
EXCELLENCE

Harmony remains on track to meet the upper end of its full-year production
 guidance while all-in sustaining costs remain comfortably below guidance

Johannesburg, Monday, 3 February 2025. Harmony Gold Mining Company
Limited ("Harmony") is pleased to announce that total gold production
for the six months ended 31 December 2024 ("H1FY25") was between 790
000 ounces (24 570kg) and 805 000 ounces (25 000kg). The South African
underground recovered grades are expected to be higher than the guided
5.80g/t, driven mainly by an exceptional performance from Mponeng.
All-in-sustaining costs ("AISC") for H1FY25 will be between R960
000/kg to R985 000/kg.

The Company remains on track to exceed the full-year production
guidance of between 1 400 000 to 1 500 000 ounces for FY25. We are
confident that full-year AISC will remain within the guided range of
between R1 020 000/kg and R1 100 000/kg for FY25. As previously
communicated, this is a function of the planned lower production,
inflationary increases, and higher sustaining capital. As guided,
total production for H1FY25 in comparison to half-year production in
financial year 2024 was down slightly, mainly due to the planned lower
production from the South African underground optimised portfolio and
Hidden Valley (which benefitted from the high-grade 'Big-Red' in the
previous reporting period).

Our balance sheet has continued to strengthen, with a significant
increase in our net cash position from what was reported on in November
2024. Harmony remains well positioned to fund our various approved
capital projects.

All of our underground operations (except Target 1, which is still in
a turnaround process after being recapitalised) generated meaningful
positive   operating    free   cash   flows.   The    South   African
surface-source operations and Hidden Valley Mine in Papua New Guinea
also performed well and contributed meaningfully towards the strong
operating free cash flows in H1FY25.

Production-, cost- and grade guidance for the financial year 2025
remain unchanged.
"The first half of this financial year has been one that has yet again
shown that consistently and sustainably delivering safe, profitable
ounces and generating improved operating free cash flows remain core
to what Harmony does. Striving for excellence in all we do will enable
us to meet all of our strategic objectives", said new chief executive
officer ("CEO"), Beyers Nel.

Our CEO, Beyers Nel, will conduct a fireside chat on Tuesday, 4
February 2025, at 14:45 at the Investing in African Mining Indaba
conference, which will take place at the Cape Town International
Convention Centre from 3 to 6 February 2025.

The Company will publish its interim operating and financial results
for the 2025 financial year on Tuesday, 4 March 2025, at 10:00 South
African time. Please refer to the Harmony website for registration
and further details: www.harmony.co.za.

The information contained in this guidance release has not been
reviewed or reported on by the Company's external auditors.

Ends.

For more details, contact:

Jared Coetzer
Head: Investor Relations
+27 (0) 82 746 4120

Johannesburg, South Africa
3 February 2025

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 03-02-2025 07:05:00
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