HARMONY GOLD MINING COMPANY LIMITED - Harmony to meet annual production, grade, and cost guidance for FY25.

Harmony to meet annual production, grade, and cost guidance for FY25.

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 "Company")

Harmony to meet annual production, grade, and cost guidance for FY25. Another
landmark year underpinned by exceptional operating free cash flows, improved
recovered grades whilst advancing our copper-gold growth strategy


Johannesburg, 23 June 2025. Beyers Nel, chief executive officer of Harmony
Gold Mining Company Limited ("Harmony" and/or the "Company"), provides a
pre-year-end update ahead of the financial year-end on 30 June 2025 ("FY25").


"At Harmony, everything begins with safety, and I must re-emphasise our
unwavering commitment to improving safety across all Harmony's operations.
Responsible Stewardship is the first of our four strategic pillars, and it
is non-negotiable that each employee returns home safely daily. Harmony has
implemented a comprehensive safety strategy (Thibakotsi) to achieve zero
harm and foster a proactive safety culture. Our aim remains to stop
significant unwanted events and prevent any loss of life by reinforcing this
strategy. This is further supported through Personal Ownership, our Risk
Response Protocol, Learning from Incidents, and a clear Accountability
Model. Zero harm is possible.


Over the past three years, Harmony has transformed into a geographically
diversified specialist mining company with a compelling gold and copper
story. We continue creating meaningful value for our stakeholders through
safe, profitable ounces and improving margins by delivering on our strategic
objectives. This has only been possible through an embedded approach to
sustainability, disciplined and responsible capital allocation and
consistent, predictable production underpinned by operational excellence.
This enabled Harmony to improve the quality of its portfolio, extend the
life of its mines and deliver stellar cash flow generation.


As we near the end FY25, total production for the group is expected to meet
the FY25 guidance of between 1 400 000 to 1 500 000 ounces, while all-in-
sustaining costs will come in comfortably between the guided range of R1
020 000/kg to R1 100 000/kg. Underground recovered grades will be higher
than the guided 6g/t while total capital expenditure for the year will be 
slightly below the guided R10.8 billion.


We have a firm grip on our costs, which are predominantly rand-based and
comprise mainly labour, consumables and electricity. We continue to benefit
from the high rand per kilogramme gold price and maintain a high level of
certainty and predictability as it relates to our planning parameters.


Some of the highlights achieved during this financial year include:


    - Meeting or beating all guidance metrics for the 10th consecutive year
    - Our JSE share price hit a record high in April 2025
    - We made a record interim dividend payout of R1.4 billion
    - The announcement of the potential acquisition of MAC Copper in New
      South Wales, Australia which, pending conclusion in the second half
      of 2025, will bring over 40 000 tonnes of annual copper production
      and   contribute   immediately   towards   increasing   free   cash   flow
      generation
     - Delivering phase 1 of the Mine Waste Solutions extension project on
       time and on budget, and
     - MSCI upgrading Harmony's ESG rating to a BB from a B in June 2025 for
        our embedded sustainable mining practices.


These excellent operational achievements are a result of collaborative
dedication, expertise, and collaboration of every member of the Harmony
team.


We extend our sincere gratitude to all our stakeholders – both internal and
external – for their continued trust, partnership, and unwavering support
in driving Harmony's success.


Looking ahead to our planning for financial year 2026, we will continue to
allocate most of our project capital to our higher-grade, higher-quality,
and lower-risk assets. This includes the extension projects at Hidden
Valley, Moab Khotsong and Mponeng. We are also in the process of finalising
the Eva Copper project's feasibility study and will provide an update on
the outcome thereof when we release our year-end results in August 2025.
The permitting of the Wafi-Golpu copper-gold project continues as this Tier
1 asset remains core to our longer-term strategy.
                                                                                 
Please join me and my management team on 28 August 2025, at 10:00 South
African time, at the NH Hotel in Sandton, for an in-person year-end results
presentation where we will also provide a comprehensive update on our FY26
plans."


The financial information on which this update is based has not been reviewed
or reported on by the Company's external auditors.


For more details, contact:
Jared Coetzer
Head: Investor Relations
+27 (0) 82 746 4120


JSE Sponsor:
J.P. Morgan Equities South Africa Propriety Limited

FORWARD-LOOKING STATEMENTS
This market release contains forward-looking statements within the meaning
of the safe harbour provided by Section 21E of the Exchange Act and Section
27A of the Securities Act of 1933, as amended (the "Securities Act"), with
respect to our financial condition, results of operations, business
strategies, operating efficiencies, competitive positions, growth
opportunities for existing services, plans and objectives of management,
markets for stock and other matters.


These forward-looking statements, including, among others, those relating
to our future business prospects, revenues, and the potential benefit of
acquisitions (including   statements regarding  growth  and cost savings)
wherever they may occur in this market release, are necessarily estimates
reflecting the best judgement of our senior management and involve a number
of risks and uncertainties that could cause actual results to differ
materially from those suggested by the forward-looking statements. As a
consequence, these forward-looking statements should be considered in light
of various important factors, including those set forth in this market
release.


By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances and should be
considered in light of various important factors, including those set forth
in this disclaimer. Readers are cautioned not to place undue reliance on 
such statements. Important factors that could cause actual results to differ
materially from estimates or projections contained in the forward-looking
statements    include,    without     limitation:     overall     economic and  business
conditions in South Africa, Papua New Guinea, Australia and elsewhere; the
impact from, and measures taken to address, Covid-19 and other contagious
diseases, such as HIV and tuberculosis; high and rising inflation, supply
chain issues, volatile commodity costs and other inflationary pressures
exacerbated by the Russian invasion of Ukraine and subsequent sanctions;
estimates of future earnings, and the sensitivity of earnings to gold and
other metals prices; estimates of future gold and other metals production
and sales; estimates of future cash costs; estimates of future cash flows,
and the sensitivity of cash flows to gold and other metals prices; estimates
of    provision    for     silicosis      settlement; increasing  regulation of
environmental and sustainability matters such as greenhouse gas emission
and climate change, and the impact of climate change on our operations;
estimates of future tax liabilities under the Carbon Tax Act (South Africa);
statements regarding future debt repayments; estimates of future capital
expenditures;     the    success    of   our business strategy, exploration and
development activities and other initiatives; future financial position,
plans, strategies, objectives, capital expenditures, projected costs and
anticipated    cost     savings    and   financing  plans; estimates of reserves
statements regarding future exploration results and the replacement of
reserves; the ability to achieve anticipated efficiencies and other cost-
savings in connection with past and future acquisitions, as well as at
existing operations; fluctuations in the market price of gold and other
metals; the occurrence of hazards associated with underground and surface
gold mining; the occurrence of labour disruptions related to industrial
action or health and safety incidents; power cost increases as well as power
stoppages,    fluctuations     and    usage constraints; ageing infrastructure,
unplanned breakdowns and stoppages that may delay production, increase costs
and industrial accidents; supply chain shortages and increases in the prices
of production imports and the availability, terms and deployment of capital;
our ability to hire and retain senior management, sufficiently technically-
skilled employees, as well as our ability to achieve sufficient
representation of historically disadvantaged persons in management positions
or sufficient gender diversity in management positions or at Board level;
our ability to comply with requirements that we operate in a sustainable
manner and provide benefits to affected communities; potential liabilities
related to occupational health diseases; changes in government regulation
and   the   political    environment, particularly tax and royalties, mining
rights, health, safety, environmental regulation and business ownership including 
any interpretation thereof; court decisions affecting the mining
industry, including, without limitation, regarding the interpretation of
mining    rights;    our   ability      to   protect   our    information technology and
communication systems and the personal data we retain; risks related to the
failure of internal controls; our ability to meet our environmental, social
and    corporate governance targets; the outcome  of pending or future
litigation or regulatory proceedings; fluctuations in exchange rates and
currency devaluations and other macroeconomic monetary policies, as well as
the impact of South African exchange control regulations; the adequacy of
the Group's insurance coverage; any further downgrade of South Africa's
credit rating and socio-economic or political instability in South Africa,
Papua New Guinea, Australia and other countries in which we operate; changes
in    technical    and   economic assumptions underlying our   mineral reserves
estimates; geotechnical challenges due to the ageing of certain mines and a
trend toward mining deeper pits and more complex, often deeper underground,
deposits; and actual or alleged breach or breaches in governance processes,
fraud, bribery or corruption at our operations that leads to censure,
penalties or negative reputational impacts.


The foregoing factors and others described under "Risk Factors" in our
Integrated Annual Report (www.har.co.za) and our Form 20-F should not be
construed as exhaustive. We undertake no obligation to update publicly or
release any revisions to these forward-looking statements to reflect events
or circumstances after the date of this market release or to reflect the
occurrence of unanticipated events, except as required by law. All
subsequent written or oral forward-looking statements attributable to
Harmony or any person acting on its behalf, are qualified by the cautionary
statements herein.

Date: 23-06-2025 10:44:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.