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

Trading statement and operating update for the financial year ended
30 June 2023 ("FY23")

Johannesburg, Wednesday, 23 August 2023. In terms of paragraph 3.4(b)
of the Listings Requirements of the JSE Limited ("JSE"), a company
listed on the JSE is required to publish a trading statement as soon
as they are satisfied that a reasonable degree of certainty exists
that the financial results for the period to be reported upon next
will differ by at least 20% from the financial results for the
previous comparable period.

“FY23 was a year filled with many highlights as Harmony delivered on
its strategic objectives of producing safe, profitable ounces. We have
met the upper end of our production guidance of 1.4 to 1.5 million
ounces at an all-in-sustaining cost of below R900 000/kg. Underground
recovered grades also exceeded the upper end of the guided 5.45 to
5.6g/t. Our embedded approach to safety, operational excellence,
alongside our improved asset quality, resulted in a strong and
sustainable group performance with solid free cash flows. We will
continue allocating growth capital to our high-grade underground and
high-margin surface source operations in South Africa and expanding
our international copper-gold portfolio,” said Peter Steenkamp, chief
executive officer of Harmony.

Expected basic and headline earnings for FY23
Shareholders of Harmony are advised that a reasonable degree of
certainty exists that basic earnings for FY23 will be higher than for
the financial year ended 30 June 2022 ("the previous comparable
period" or "FY22") primarily due to:

    • an increase in revenue due to higher underground       recovered
      grades and a higher average gold price received;

    • and no impairment recognised on assets during FY23 due to
      headroom shown on all assets compared to R4 433 million (US$273
      million) impairment in FY22.

The increase in earnings was partially offset by the following:

    • an increase in production costs mainly as a result of higher
      consumables, contractors and services costs;
    • acquisition-related costs relating to the Eva Copper assets
      purchased during December 2022 and subsequent exploration
      expenditure related to the feasibility study;
    • a foreign exchange translation loss of R634 million (US$36
      million), compared to a R327 million loss (US$21 million) in
      FY22, is predominantly attributable to the weakening of the
      Rand/US$ exchange rate year on year, which unfavourably affects
      the translation of the US dollar loan balances; and


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     • an increase in the taxation expense predominately due to
       deferred taxation. Deferred taxation moved from a credit of R353
       million (US$23 million) in FY22 to an expense of R1 080 million
       (US$61 million)in FY23 mainly due to higher property, plant and
       equipment carrying values and utilisation of unredeemed capital
       expenditure. The current taxation also increased due to higher
       profitability resulting from favourable gold prices.

Earnings per share (“EPS”) are expected to be between 763 and 798
South African ("SA") cents, which is an increase of more than 100% on
the loss per share of 172 SA cents for the previous comparable period.
In United States ("US") dollar terms, the earnings per share is
expected to be between 43 and 45 US cents, which is an increase of
more than 100% on the loss per share of 8 US cents reported for the
previous comparable period.


Headline earnings per share (“HEPS”) are expected to be between 747
and 850 SA cents, which represents an increase of between 50% and 70%
from the headline earnings per share of 499 SA cents reported in the
previous comparable period. In US dollar terms, the headline earnings
per share is expected to be between 43 and 50 US cents, which is an
increase of between 30% and 50% on the headline earnings per share of
33 US cents reported for the previous comparable period.

Harmony will publish its financial results for the financial year
ended 30 June 2023 on Wednesday, 30 August 2023. Please see Harmony’s
website for more details: www.harmony.co.za.

The financial information on which this trading statement has been
based has not been reviewed or reported on by Harmony’s external
auditors.


For more details, contact:

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


Johannesburg, South Africa
23 August 2023

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




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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 and the exhibits, 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.

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 (including as a result of the coronavirus disease
("COVID-19” or “pandemic”); 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; 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; 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; 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
HDSAs in management positions; 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
and   safety,  environmental   regulation   and   business  ownership  including   any
interpretation thereof; court decisions affecting the South African 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 any further downgrade of South Africa’s credit rating; and currency
devaluations and other macroeconomic monetary policies; the adequacy of the Group’s
insurance coverage; and socio-economic or political instability in South Africa, Papua
New Guinea, Australia and other countries in which we operate.
For a more detailed discussion of such risks and other factors (such as availability
of credit or other sources of financing), see the Company’s latest Integrated Annual
Report and Form 20-F which is on file with the Securities and Exchange Commission, as
well as the Company’s other Securities and Exchange Commission filings. The Company
undertakes 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. The foregoing factors and others described under “Risk Factors” should not be
construed as exhaustive.




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