HARMONY GOLD MINING COMPANY LIMITED - Harmony completes MAC Copper acquisition, securing full ownership of CSA mine & unlocking immediate copper production

Harmony completes MAC Copper acquisition, securing full ownership of CSA mine & unlocking immediate copper production

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 completes MAC Copper acquisition, securing full ownership of
CSA mine and unlocking immediate copper production

Johannesburg. Friday, 24 October 2025. Harmony Gold Mining Company
Limited ("Harmony" or "the Company") is pleased to announce the
successful completion of the acquisition of MAC Copper Limited
("MAC"), the owner of the high-grade CSA copper mine ("CSA mine") in
New South Wales, Australia, through its wholly owned Australian
subsidiary Harmony Gold (Australia) Pty Limited.

The transaction, first announced on 27 May 2025, was implemented
today, 24 October 2025 via a Jersey law Scheme of Arrangement
pursuant to Article 125 of the Companies (Jersey) Law 1991 (as
amended). Harmony has acquired 100% of MAC's securities at a price
of US$12.25 per share, implying a total equity value of US$1.01
billion (approximately R18.4 billion).

This transaction has been funded using cash reserves together with a
US$1.25 billion bridge facility.

"Harmony is one of the world's leading gold producers with a proud
75-year operating history and more than two decades of experience in
Australia and Papua New Guinea. Our proven operating model –
extending the life of mines through disciplined investment in our
orebodies and our people – has consistently delivered long-term
value for all stakeholders, making us the partner of choice wherever
we operate.

We are delighted to welcome the CSA mine employees to the Harmony
family. The completion of this acquisition marks a significant
milestone in our strategy to grow into a global gold and copper
producer, reinforcing our commitment to sustainable value creation.
CSA is a high-grade, long-life copper asset located in a Tier-1
jurisdiction. This asset will meaningfully enhance our business and
support our long-term growth," says Beyers Nel, Harmony Chief
Executive Officer.

The integration of the CSA mine into the Harmony portfolio will now
commence. Over the next three months, Harmony will be embedding the
mine into the broader Harmony Group, aligning its operations with
our proven planning and performance frameworks. This process is
designed to unlock synergies, enhance operational efficiency, and
position CSA to contribute meaningfully to Harmony's long-term value
creation. A detailed update on operational performance and key
development milestones – including the ventilation project, upper
Merrin mine development and exploration activities through December
2025 – will be provided at Harmony's half-year results (H1FY26)
presentation scheduled for late February or early March 2026.
At that time, we will also update our FY26 production guidance to
incorporate the CSA mine figures.

Harmony's planning parameters for FY27 will be embedded into CSA
mine to develop its FY27 life-of-mine plan, in alignment with the
planning approach used across our other operations. The CSA mine
life-of-mine plan will be released alongside our FY26 results
expected in August 2026.

For full details of the transaction, please refer to the SENS
announcement published on 27 May 2025, available on our website at:
www.harmony.co.za

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

Johannesburg, South Africa
24 October 2025

JSE Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd

About Harmony
Harmony, a world-class gold and copper mining and development
company, operates and has assets in South Africa, Australia, and
Papua New Guinea (PNG). Harmony is South Africa's largest gold
producer by volume and company assets include nine underground
mines, one open pit operation and several surface retreatment
operations in South Africa, one open pit mine and several
exploration tenements in PNG, and now an operating copper mine in
Australia.

The company's primary stock exchange listing is on the JSE with a
secondary listing on the New York Stock Exchange. The bulk of our
shareholders are in South Africa and the United States. Additional
information on the company is available on the corporate website.
https://www.harmony.co.za/

About MAC Copper
MAC Copper Limited (NYSE: MTAL) is a company focused on operating
and acquiring metals and mining businesses in high quality, stable
jurisdictions that are critical in the electrification and
decarbonisation of the global economy.
https://maccopperlimited.com/

Date: 24-10-2025 07:05:00
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