Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
NYSE share code: HMY
(“Harmony” and/or “the Company”)

HARMONY MOVES ONE SIGNIFICANT STEP CLOSER TO SECURING THE SPECIAL
MINING LEASE FOR ITS TIER 1 COPPER-GOLD PROJECT IN PAPUA NEW GUINEA

JOHANNESBURG: 6 APRIL 2023. Harmony’s wholly-owned subsidiary, Wafi
Mining Limited, and its Wafi-Golpu Joint Venture (“WGJV”) partner,
Newcrest PNG 2 Limited (a subsidiary of Newcrest Mining Limited) have
today signed a Framework Memorandum of Understanding (“MOU”) with the
Independent State of Papua New Guinea (“the State”), at a signing
ceremony which was attended by the Governor General, the Prime
Minister and key members of his cabinet, as well as the Governor of
the Morobe Province.

The MOU is an affirmation of the parties’ intent to proceed with the
Tier 1 Wafi-Golpu Project (“the Project”), subject to the finalisation
of the permitting process and approvals by both the Harmony and
Newcrest boards.

The MOU sets out key terms to be included in the Mining Development
Contract, which is a prerequisite for the grant of a Special Mining
Lease (SML), including:

     the term and scope of the SML;

     equity participation by the State and its nominees, including
      landowners and the Morobe Provincial Government;

     fiscal matters, including the royalty rate and taxation;

     provision for fiscal and regulatory stability to underpin the
      significant long-term investment required to develop and
      operate the Project; and

     social contributions to be made by the Project, including
      towards business development, infrastructure and other social
      development projects that will deliver long-term benefits to
      local communities.

The MOU also sets out the framework for the parties to progress the
permitting of the Project as quickly as practicable in accordance with
applicable regulatory processes.



                                                                      1
The MOU recognises that the development of the Project will be of
major economic significance to the people of Papua New Guinea and is
of national importance. It encourages the development of the Project
in such a way that it will contribute to the advancement of the social
and economic welfare of the people of Papua New Guinea, while also
providing a viable and stable foundation for the long-term development
of the Project by the WGJV participants.

“This MOU is an important step in progressing the permitting of the
Tier 1 Wafi-Golpu Project, one of the world’s premier, undeveloped
copper-gold deposits. I wish to thank Prime Minister Marape and his
Government for the constructive manner in which they have worked with
the WGJV partners and for the commitment demonstrated in advancing
this important and long-awaited Project. The principles agreed upon
provide a basis for the equitable distribution of the benefits from
this project to landowners, communities, the Morobe Provincial
Government and the Independent State of Papua New Guinea while
supporting meaningful returns for the developers and providers of
capital,” said Peter Steenkamp, chief executive officer.

Steenkamp added, “After the SML grant, we will complete the 2018
feasibility study update and thereafter seek board approval for the
requisite financial investment decision to develop the project”.

About the Wafi-Golpu Project

The Project is located approximately 65km south-west of Lae in the
Morobe Province of PNG which is the second largest city in PNG and
will host the Wafi-Golpu export facilities. The proposed mine site
sits at an elevation of approximately 200 metres above sea level in
moderately hilly terrain and is located near the Watut River
approximately 30km upstream from the confluence of the Watut and
Markham rivers.

In December 2020, the Conservation and Environment Protection Agency
concluded its assessment of the Project’s environmental permit
application and granted an environment permit approving deep-sea
tailings placement as the Project’s tailings management method.

Harmony and Newcrest each currently own 50% of the Project through
their respective subsidiary WGJV participant companies. The State of
PNG retains the right to purchase, at a pro-rata share of accumulated
exploration expenditure, up to 30% equitable interest in any mineral
discovery at Wafi-Golpu, exercisable at any time before the
commencement of mining. If the State chooses to exercise its right of
purchase, it will be required to contribute to the costs of the
development along with the WGJV participants.



                                                                     2
Additional information is available on the Company’s web page at
www.harmony.co.za.


For more details contact:

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

Johannesburg, South Africa
6 April 2023

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




                                                               3