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Harmony remains on track to meet higher end of full-year production guidance with costs comfortably below guidance

Published: 2024-01-25 14:10:19 ET

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”)

Harmony remains on track to meet higher end of full-year production
guidance with costs comfortably below guidance

Johannesburg, Thursday, 25 January 2024. Harmony is pleased to
announce that total gold production for the six months ended 31
December 2023 of financial year 2024 (“H1FY24”) was between 820 000
ounces (25 505kg) and 835 000 ounces 25 971kg), an increase of between
12% and 14% compared to the six months ended 31 December 2022 of
financial year 2023 (“H1FY23”).

As a result, all-in-sustaining costs (“AISC”) for H1FY24 will be
between R830 000/kg to R855 000/kg, which is below the guided AISC of
R975 000/kg.

The production increase was driven by:

  -   the South African underground recovered grades exceeding the
      upper end of the guided 5.60 to 5.75g/t in H1FY24, driven mainly
      by our high-grade operations (Mponeng and Moab Khotsong);
  -   a    strong performance by the South African surface-source
      operations; and
  -   an excellent operational performance from Hidden Valley in Papua
      New Guinea

Guidance for the 2024 financial year remains unchanged at the upper
end of 1 380 000 to 1 480 000 ounces of gold and gold equivalents, at
an AISC of below R975 000/kg. Underground recovered grade guidance
also remains unchanged at between 5.60 to 5.75g/t.

Our CEO, Peter Steenkamp, will be presenting at the Investing in
African Mining Indaba conference in Cape Town, which takes place from
5 to 8 February 2024. This presentation will be available on the
Harmony website on Wednesday, 7 February 2024.

The Company will publish its interim operating and financial results
for the 2024 financial year on Wednesday, 28 February 2024 at 13:00
South African time and the results presentation will be by electronic
communication only, at 14:00 South African time on the same day.
Please     refer    to     the    Harmony     website    for     more
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.


For more details, contact:

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

Johannesburg, South Africa
25 January 2024

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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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