OPERATIONAL UPDATE Harmony Gold Mining Company Limited for the three months ended 30 September 2022 Incorporated in the Republic of South Africa (“Q1FY23”) Registration number: 1950/038232/06 JSE share code: HAR NYSE share code: HMY ISIN: ZAE000015228 (“Harmony” or “the Company”) STRONG PERFORMANCE FROM SOUTH Salient features AFRICAN SURFACE AND UNDERGROUND (Q1FY23 vs Q4FY22) MINES. TSHEPONG NORTH AND SOUTH SHINE • South Africa total LTIFR at 5.68, trending below 6.00 for • Average gold price received up 1% to R954 916/kg Johannesburg, South Africa. Thursday, 17 November 2022. four consecutive quarters (US$1 743/oz) from R944 671/kg (US$1 885/oz) last quarter Harmony Gold Mining Company Limited (“Harmony” or “the Company”) is • Operating free cash flow up 17% to R857m (US$50m) driven • Group all-in sustaining costs ("AISC") increased 5% to pleased to report our operational performance for the three months ended by South African underground performance R907 864/kg (US$1 657oz) from R865 523/kg 30 September 2022 (“Q1FY23”). • Tshepong Operations disaggregation delivers outstanding (US$1 727/oz) impacted by Eskom winter electricity tariffs results, generating operating free cash flow of R314m • Group all-in costs ("AIC") increased 4% to R946 204/kg OVERVIEW (US$18m), 37% of group (US$1 727/oz) from R906 706/kg (US$1 810/oz) The operational results for the first quarter of the financial year 2023 • Underground recovered grades up 1% to 5.35g/t from 5.30g/t • Net debt to EBITDA increased to 0.26x from 0.1x due to were driven primarily by a good performance from the South African working capital movements and currency translation • Total gold production down 4% to 11 396kg (366 390oz) ("SA") underground and SA surface operations. As a rand-cost producer, from 11 879kg (381 919oz) mainly due to the closure of the gold price received continued to move in Harmony's favour, increasing 1% to R954 916/kg (US$1 743/oz) from R944 671/kg Bambanani at the end of FY22 (US$1 885/oz) in the previous quarter ("Q4FY22"). This resulted in a 1% increase in gold revenue for Q1FY23 to R11 226 million (US$659 million) from R11 073 million (US$711 million) in the previous quarter. Improved HARMONY ON TRACK TO MEET STRATEGIC OBJECTIVES AND GUIDANCE 23 Produ Q1FY396kg/366ction: performances at our SA high-grade and SA optimised underground operations resulted in total group operating free cash flow increasing 17% 11 koz to R857 million (US$50 million) from R731 million (US$47 million). Group Production 3 122kg 3%1 Production 5 345kg 5%4 SA underground underground G -TERM VALU high-grade operating cash flow margins improved to 8% from 7% in the AISC2 R845 688/kg 2% LON E AISC R923 545/kg 3% optimised OFCF3 R408 million 92% OFCF R393 million >100% SA previous quarter. Zaaiplaats project development in progress Target 1 optimisation project to be completed Total group production declined 4% to 11 396kg (366 390oz) from SA SA in January 2023 1. TEWA S ON ALLOC PITAL RES RDSHIP 11 879kg (381 919oz) in Q4FY22. This was mainly due to the closure of underground underground ATI PONS Bambanani. SA underground production decreased by 2% to 8 467kg high-grade optimised 4. CA (272 219oz) from 8 643kg (277 880oz) in the previous quarter. Adjusting IBLE for the closure of Bambanani, which delivered 317kg (10 192oz) in the Production 1 012kg 28% Production 1 917kg 4% previous quarter, the remaining SA underground production increased International SA and other gold AISC R1 153 145/kg 81% AISC R835 803/kg 4% International equivalents by 2% to 8 467kg (272 219oz). Production was further supported high-margin and other gold surface SA surface OFCF R82 million 80% OFCF (R25 million) >100% by a 1% increase in underground recovered grades to 5.35g/t from Tier 1 Wafi-Golpu permitting process equivalents high-margin Mine Waste Solutions’ Kareerand tailings 5.30g/t. Production at the SA surface operations increased 4% continues; Hidden Valley extension project expansion in progress, awaiting final EX OP 2. H TY CE to 1 917kg (61 634oz) from 1 835kg (58 996oz) on the back of an has commenced; Eva Copper project IN TA S ER LLE AT NCE construction approval improved performance from Mine Waste Solutions. The ongoing energy awaiting necessary approvals in Australia CER3. CA ION AL crisis in South Africa had a negative impact on group production, with 1 All comparative changes in this image are quarter on quarter 2 AISC: All-in sustaining costs approximately 100kg (3 215oz) in production lost as a result of load 3 OFCF: Operating free cash flow curtailment this quarter. Production from our international segment 4 Comparative figure excludes the Bambanani contribution in Q4FY22 due to the closure declined 28% to 1 012kg (32 537oz) from 1 401kg (45 043oz). Lower THREE MONTHS OF THE FINANCIAL YEAR 2023 – KEY OPERATIONAL METRICS production at Hidden Valley in Papua New Guinea ("PNG") was expected due to planned waste stripping to expose higher grades. Q-on-Q Y-on-Y Unit Q1FY23 Q4FY22 (%) Q1FY22 (%) Following the restructure and disaggregation of Tshepong Operations R/kg 954 916 944 671 1 832 756 15 at the end of the previous financial year, Tshepong North and Tshepong Average gold price received South both delivered strong operational performances due to better $/oz 1 743 1 885 (8) 1 771 (2) recovered grades. Tshepong North's operating free cash flow margins Underground yield g/t 5.35 5.30 1 5.27 2 improved to 11% this quarter from -13% in Q4FY22 while Tshepong kg 11 396 11 879 (4) 12 868 (11) South's operating free cash flow margins improved to 22% from 9%. Gold produced total oz 366 390 381 919 (4) 413 714 (11) These two mines contributed R314 million (US$18 million), or 37% of group operating free cash flow, driving much of the improvement in the kg 5 345 5 102* 5 5 470* (2) SA optimised underground1 SA underground optimised portfolio. Operating free cash flow margins for oz 171 845 164 034* 5 175 864* (2) the SA underground operations improved to 9% from 2% in the previous kg 3 122 3 224 (3) 3 504 (11) quarter. Margins at the high-grade operations, Mponeng and Moab SA high grade underground2 oz 100 374 103 654 (3) 112 656 (11) Khotsong, each improved to 13% from 5% and 9% respectively. The free cash flow contribution of R407 million (US$24 million) from our high-grade kg 1 917 1 835 4 2 273 (16) SA surface3 operations represents 48% of total group operating free cash flow. oz 61 634 58 996 4 73 078 (16) Hidden Valley generated R82 million (US$5 million) in operating free kg 1 012 1 401 (28) 1 138 (11) cash flow this quarter. International (Hidden Valley) oz 32 537 45 043 (28) 36 587 (11) Group AISC increased by 5% to R907 864/kg (US$1 657/oz) from R/kg 757 726 712 240 (6) 663 458 (14) Total cash costs R865 523/kg (US$1 727/oz) in Q4FY22 mainly due to lower production at $/oz 1 383 1 422 3 1 411 2 Hidden Valley, Kusasalethu and Target 1. R/kg 907 864 865 523 (5) 795 086 (14) Group AISC Net debt to EBITDA increased to 0.26 times in this quarter from 0.1 times US$/oz 1 657 1 727 4 1 691 2 in the previous quarter on the back of currency translation and working R/kg 946 204 906 706 (4) 814 603 (16) capital movements. Net debt increased to R2 070 million (US$114 million) Group AIC US$/oz 1 727 1 810 5 1 732 — from R731 million (US$45 million). Average exchange rate R/US$ 17.04 15.58 9 14.63 16 OUTLOOK 1 Tshepong South, Tshepong North, Target 1, Joel, Masimong, Doornkop and Kusasalethu 2 Mponeng and Moab Khotsong Harmony is a 1.4 to 1.5 million ounce gold producer with near-term copper prospects. On the back of the strong quarterly performance 3 Mine Waste Solutions, Phoenix, Central Plant, Savuka Tailings, Dumps and Kalgold from the South African assets and the favourable US$/Rand exchange * Excludes Bambanani due to closure at the end of FY22 rate, Harmony remains on track to meet the FY23 cost, grade and production guidance provided in August 2022. Our four strategic pillars are: responsible stewardship, operational excellence, cash certainty and effective capital allocation. Continued focus is placed on delivering safe production and value creation through execution excellence and productivity initiatives. To boost our existing copper footprint, Harmony announced the acquisition of Eva Copper in Australia on 6 October 2022. Alongside the Tier 1 Wafi-Golpu project in PNG, this investment introduces lower-risk, near-term copper into the Harmony portfolio. This acquisition complements our investments in our higher-grade and higher-margin assets and will ensure we continue to deliver on our strategy of safe profitable ounces. Our embedded approach to sustainable mining practices and meaningful investment in organic and inorganic growth will deliver long-term value creation for all our stakeholders. 2 Harmony Gold Mining Company Limited | Operational Update for the three months ended 30 September 2022 RESPONSIBLE STEWARDSHIP HEALTH At Moab Khotsong, safety-related stoppages resulted in lower volumes and underground recovered grades. Yields decreased 2% to 6.23g/t from Environmental, social and governance (ESG) practices are embedded in our Harmony remains dedicated to delivering best-in-class employee health 6.36g/t, while gold production declined 9% to 1 488kg (47 840oz) from strategy and determine how we operate across the globe. We believe this and wellness. The company also extends its health drive to include mental 1 640kg (52 727oz). will create lasting legacies and a sustainable future for all our stakeholders. health, ensuring that every employee can live a fulfilled and healthy life. Responsible stewardship is the first of our four strategic pillars and an OPTIMISED SA UNDERGROUND OPERATIONS Occupational lung diseases, particularly silicosis, noise induced hearing integrated and risk-based approach to sustainable development guides loss ("NIHL") and heat related illnesses at our South African operations The optimised SA operations comprise Tshepong North, Tshepong South, how we operate. Harmony remains committed to good governance, are addressed through a pro-active, risk-based approach. In PNG, NIHL is a Doornkop, Joel, Target 1, Kusasalethu and Masimong. These mines transparent reporting and comprehensive disclosures. Our latest ESG and significant focus area although there have been no recorded cases. contributed 5 345kg (171 845oz) this quarter compared to 5 419kg Taskforce for Climate-related Financial Disclosure ("TCFD") reports are available at www.harmony.co.za Non-occupational diseases like HIV/AIDS, tuberculosis and other chronic (174 225oz) in the previous quarter which included 317kg (10 192 oz) illnesses continue to receive full attention through all ongoing initiatives at from Bambanani. Production from these optimised assets represented 47% SAFETY our healthcare hubs. of group production. AISC at the optimised assets improved 3%. The safety of our people remains our top priority. Safety will always take Over 90% of our employees volunteered to be vaccinated for Covid-19 Underground recovered grade from Tshepong North improved by 12% to precedence over production. Through our Thibakotsi (prevent harm) culture and we continue to monitor the situation closely. More information on 4.25g/t from 3.80g/t. After the unbundling, higher grades were targeted transformation programme and Harmony Risk Management framework, we employee health and wellness can be found at www.harmony.co.za and in and a more focussed approach was taken to mining. While the volumes continue to embed a proactive safety culture at all our operations. Our goal our ESG report. were slightly lower, the mine is more profitable with AISC improving 15% remains zero-loss of life. to R897 520/kg from R1 052 814/kg. ENVIRONMENT At Tshepong South, tonnes milled increased 6% while underground Q1FY23 marked the fourth consecutive quarter where the Lost Time Injury Frequency Rate ("LTIFR") was below six (5.68 per million hours worked) As a company, we believe the responsible management of natural recovered grade improved 11% to 6.57g/t from 5.94g/t. This resulted at our SA operations. Reportable injuries relating to fall of ground, rail resources and ecosystems is vital to ensure a sustainable future not only for in a 17% increase in production to 973kg (31 283oz) from 832kg bound equipment and winch injury frequency rate also improved for Harmony, but also our host communities and future generations. (26 749oz). AISC improved 13% to R779 756/kg from R895 193/kg in the the quarter. As part of our drive to emphasize the importance of safety, previous quarter. In alignment with the Science Based Targets initiative, we finalised a comprehensive visible felt leadership initiative was conducted at all Doornkop underground recovered grades improved 42% to 5.07g/t from new environmental targets to be implemented from FY23 to FY27. Harmony's operations on 8 September 2022. On 6 October 2022, Harmony 3.58g/t and tonnes milled increased 5% to 228 000 tonnes. The increase Our baseline group environmental performance targets focus on our again hosted a safety meeting made up of all the general managers and in grade was due to a mill clean-up at the plant this quarter. The release strategic imperatives and material risks, including energy, water, land and plant managers to continue driving the safety message. of inventory drove the 49% increase in gold production to 1 155kg biodiversity. These targets have been set to ensure we achieve net zero We have made considerable progress to improve the overall safety at emissions by 2045. (37 134oz) from 776kg (24 949oz) in the previous quarter. AISC at Harmony. We are therefore deeply saddened by the loss of the Doornkop improved 24% to R764 087/kg from R998 311/kg. To further help us achieve our decarbonisation goals, the first of following colleagues: Joel had its second consecutive profitable quarter and is performing well. a three-phased renewable (solar) energy project is progressing well and is expected to contribute 30MW into the energy supply by the end Tonnes milled increased 7% to 127 000 tonnes. Underground recovered • Mr Juliao Macamo from our Moab Khotsong operation who lost his life of Q4FY23. grades were marginally lower at 4.13g/t from 4.19g/t due to waste dilution in a fall of ground incident on 13 August 2022 but gold production increased 5% to 525kg (16 879oz) from 499kg • Mr Ernesto Euseblo Macuacua from our Tshepong North operation who More information on our environmental, energy and decarbonisation (16 043oz). lost his life in a fall of ground incident on 7 November 2022 initiatives can be found at www.harmony.co.za and in our ESG and TCFD reports. Target 1 production was down 13% to 326kg (10 481oz) from 376kg We extend our deepest condolences to the families and loved ones of our (12 089oz). Underground recovered grades declined 13% to 2.99g/t from colleagues who lost their lives. HIGH-GRADE SA UNDERGROUND OPERATIONS 3.42g/t due to a pillar failure which restricted access to high-grade ore and delayed the mining of high-grade massives. It is imperative that we continue to adhere to the various controls Moab Khotsong and Mponeng delivered 3 122kg (100 374oz) of gold and continuously improve our systems, ensuring work places are this quarter, a 3% decline from the 3 224kg (103 654oz) produced in the At Kusasalethu, tonnes milled increased 13% but underground recovered safe at all times. We are working continuously to ensure a culture of previous quarter. Production from these two operations represented 27% grades dropped by 29% from 7.73g/t to 5.49g/t as a result of increased safety throughout Harmony and we believe that zero-loss of life is of group production. off-reef mining as we negotiated poor ground conditions. This resulted in indeed possible. low recovered grades from a very high-grade area. Mponeng recovered grades improved 4% to 7.29g/t from 7.04g/t while Please see the Company’s FY22 integrated annual report and website for tonnes milled remained flat for the quarter. This resulted in a 3% increase more information on our safety initiatives: www.harmony.co.za. in gold production to 1 634kg (52 534oz) from 1 584kg (50 927oz) while AISC also improved 4% to R883 709/kg from R921 520/kg. 3 Harmony Gold Mining Company Limited | Operational Update for the three months ended 30 September 2022 SA SURFACE OPERATIONS PROJECTS HEDGING Total gold production from the South African surface operations increased Our pipeline of projects is aimed at delivering value realisation by lowering Realised overall derivative gains for the quarter amounted to R236 million 5% to 1 917kg (61 634oz) from 1 835kg (58 996oz) in Q4FY22. Harmony's overall risk profile and improving our margins. This includes (US$13 million). The average forward Rand gold price on the hedge book the improvement in safety and responding to climate change through has now increased to R1 036 000/kg as at 30 September 2022 from At Mine Waste Solutions, recovered grades improved 5% to 0.114g/t various energy saving initiatives. We are investing in those projects that will R1 016 000kg as at 30 June 2022. from 0.109g/t and volumes increased 15% to 6.3 million tonnes from generate positive financial, social and environmental returns for many years 5.5 million tonnes. This resulted in a 19% increase in production to 711kg to come. (22 859oz) from 600kg (19 290oz). In South Africa, the Zaaiplaats project at Moab Khotsong is progressing INTERNATIONAL – HIDDEN VALLEY well and in execution. At Mine Waste Solutions, the environmental authorisation and the water use licence for the Kareerand tailings Total production from the Hidden Valley operations declined 28% to expansion have been received but we are still waiting for the approval 1 012kg (32 537oz) from 1 401kg (45 043oz). The decline in quarterly of the licence to begin construction. The Target 1 optimisation project production was in line with plan and a result of lower grade material is expected to be completed in January 2023. The first phase of the being processed while waste stripping takes place to open up the stage 7 30MW solar renewable project is underway and is expected to be complete orebody. Gold recovery grades therefore decreased 32% to 1.01g/t in FY23. The feasibility study for phase two (137MW) of our renewable from 1.48g/t. The grade profile is expected to improve in the second half of projects is underway and is expected to be completed in early 2023. the financial year. In Papua New Guinea, Harmony and our joint venture partner Newcrest Silver production decreased 6% to 19 955kg (641 579oz) from 21 307kg Mining Limited, continue to work with the PNG Government to progress (685 022oz). Silver recovery grades decreased 12% to 19.87g/t permitting of the Wafi-Golpu Project and obtain a Special Mining Lease. from 22.58g/t. The Hidden Valley Mine extension project has commenced with the Tailings Crushed material transported via the overland conveyor belt and tonnes Storage Facility 2 ("TSF 2") regulatory approval obtained during the milled continue to improve as a result of a dedicated improvement quarter. Detail design work on TSF 2 is underway. programme and coaching and development of key skills in our mining and Since the announcement of the acquisition of Eva Copper in Queensland, fixed plant maintenance teams. Australia on 6 October 2022, Harmony has begun engaging with project stakeholders in the Cloncurry, Mount Isa and broader North AISC West communities as we take the project forward. We have begun a Group AISC for the reporting period increased by 5% to R907 864/kg detailed review of the existing project feasibility study prepared by Copper (US$1 657/oz) from R865 523/kg (US$1 727/oz). The primary driver behind Mountain. We expect to conclude the transaction in early 2023, subject to the increase this quarter was the higher Eskom winter electricity tariffs and conditions precedent being fulfilled. increases in AISC at Hidden Valley, Kusasalethu and Target 1. ANNUAL PRODUCTION, COST AND GRADE SA underground AISC improved by 3% to R895 447/kg (US$1 634/oz) from R918 639/kg (US$1 833/oz) in Q4FY22. GUIDANCE AISC at SA surface operations increased by 4% to R835 803/kg Production guidance for FY23 remains unchanged and is estimated to be (US$1 526/oz) from R803 391/kg (US$1 603/oz) primarily as a result of between 1.4Moz and 1.5Moz at an AISC of under R900 000/kg. higher costs at the waste rock dumps. This was driven by lower recovery Underground recovered grade is planned to be between 5.45g/t grades and higher transportation costs as the higher grade dumps are and 5.60g/t. being depleted. Waste rock dumps' AISC increased 21% to R1 047 900/kg from R864 730/kg. International (Hidden Valley) AISC increased in line with plan by 81% to R1 153 145/kg (US$2 100/oz) from R636 155/kg (US$1 274/oz). This was a result of the waste stripping taking place and processing of lower grade stockpiles whilst the stage 7 orebody is opened up. In addition, the ongoing drought in PNG has necessitated on-site diesel power generation, which has contributed an additional US$91/oz to our AISC for the quarter. 4 Harmony Gold Mining Company Limited | Operational Update for the three months ended 30 September 2022 HEDGE POSITION AS AT 30 SEPTEMBER 2022 FY2023 FY2024 FY2025 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Total Rand gold Forward contracts koz 72 72 70 44 32 16 — — 306 R’000/kg 999 1 019 1 039 1 061 1 082 1 107 — — 1 036 Dollar gold Forward contracts koz 9 9 9 9 8 4 — — 48 $/oz 1 867 1 826 1 836 1 860 1 926 2 009 — — 1 874 Total gold koz 81 81 79 53 40 20 — — 354 Currency hedges Rand dollar Zero cost collars $m 36 42 42 42 42 42 42 36 324 Floor R/$ 16.59 16.99 17.02 17.21 17.36 17.52 17.70 17.92 17.29 Cap R/$ 18.55 18.96 19.00 19.21 19.36 19.52 19.70 19.92 19.28 Forward contracts $m 12 12 18 18 18 18 18 — 114 R/$ 17.95 17.95 17.99 18.17 18.31 18.49 18.68 — 18.25 Total dollar $m 48 54 60 60 60 60 60 36 438 Dollar silver Zero cost collars koz 270 210 105 30 30 20 — — 665 Floor $/oz 25.97 25.62 25.49 25.14 25.41 25.68 — — 25.71 Cap $/oz 29.00 28.81 28.58 28.14 28.41 28.68 — — 28.80 5 Harmony Gold Mining Company Limited | Operational Update for the three months ended 30 September 2022 OPERATING RESULTS – QUARTER ON QUARTER (RAND/METRIC) SOUTH AFRICA UNDERGROUND PRODUCTION Three TOTAL months Moab Tshepong Tshepong UNDER- ended Khotsong Mponeng North South Doornkop Joel Target 1 Kusasalethu Masimong Bambanani³ GROUND Sep-22 239 224 222 148 228 127 109 168 119 — 1 584 Ore milled t'000 Jun-22 258 225 254 140 217 119 110 149 121 37 1 630 Sep-22 6.23 7.29 4.25 6.57 5.07 4.13 2.99 5.49 4.20 — 5.35 Yield g/tonne Jun-22 6.36 7.04 3.80 5.94 3.58 4.19 3.42 7.73 4.16 8.57 5.30 Sep-22 1 488 1 634 944 973 1 155 525 326 922 500 — 8 467 Gold produced kg Jun-22 1 640 1 584 964 832 776 499 376 1 152 503 317 8 643 Sep-22 1 595 1 695 968 988 1 200 536 300 957 512 19 8 770 Gold sold kg Jun-22 1 527 1 526 949 818 734 491 400 1 110 495 312 8 362 Sep-22 966 735 958 899 969 247 968 917 968 493 969 448 974 730 968 215 969 115 962 579 966 715 Gold price received R/kg Jun-22 961 149 966 650 957 584 957 918 961 143 956 782 956 400 955 908 956 913 957 974 959 883 Sep-22 1 541 942 1 625 333 938 231 957 290 1 162 192 519 624 292 419 926 582 496 187 18 289 8 478 089 Gold revenue¹ R'000 Jun-22 1 467 675 1 475 108 908 747 783 577 705 479 469 780 382 560 1 061 058 473 672 298 888 8 026 544 Cash operating cost Sep-22 1 091 482 1 244 224 698 963 637 590 732 877 398 353 509 551 864 642 426 594 — 6 604 276 (net of by-product R'000 credits) Jun-22 1 034 625 1 218 351 741 500 574 713 684 993 359 065 457 613 798 216 389 384 265 787 6 524 247 Sep-22 29 459 33 765 14 188 6 585 47 320 6 024 (27 886) 35 694 7 125 15 728 168 002 Inventory movement R'000 Jun-22 (26 264) (48 225) (13 983) (12 057) (90 305) (11 240) 22 858 (26 596) (5 200) (4 264) (215 276) Sep-22 1 120 941 1 277 989 713 151 644 175 780 197 404 377 481 665 900 336 433 719 15 728 6 772 278 Operating costs R'000 Jun-22 1 008 361 1 170 126 727 517 562 656 594 688 347 825 480 471 771 620 384 184 261 523 6 308 971 Sep-22 421 001 347 344 225 080 313 115 381 995 115 247 (189 246) 26 246 62 468 2 561 1 705 811 Production profit R'000 Jun-22 459 314 304 982 181 230 220 921 110 791 121 955 (97 911) 289 438 89 488 37 365 1 717 573 Sep-22 256 352 167 670 132 981 111 886 180 343 64 198 106 194 50 302 3 557 — 1 073 483 Capital expenditure R'000 Jun-22 300 546 176 509 287 469 136 037 162 511 78 749 108 393 61 857 11 912 — 1 323 983 Sep-22 733 523 761 459 740 427 655 283 634 526 758 768 1 563 040 937 790 853 188 — 780 002 Cash operating costs R/kg Jun-22 630 869 769 161 769 191 690 761 882 723 719 569 1 217 056 692 896 774 123 838 445 754 859 Sep-22 4 567 5 555 3 148 4 308 3 214 3 137 4 675 5 147 3 585 — 4 169 Cash operating costs R/tonne Jun-22 4 010 5 415 2 919 4 105 3 157 3 017 4 160 5 357 3 218 7 183 4 003 Cash operating cost Sep-22 905 802 864 072 881 297 770 273 790 667 881 050 1 888 788 992 347 860 302 — 906 786 R/kg and Capital Jun-22 814 129 880 593 1 067 395 854 267 1 092 144 877 383 1 505 335 746 591 797 805 838 445 908 045 Sep-22 805 284 883 709 897 520 779 756 764 087 871 350 1 948 919 1 022 713 914 971 827 789 895 447 All-in sustaining cost R/kg Jun-22 808 618 921 520 1 052 814 895 193 998 311 843 454 1 516 214 782 136 831 207 885 487 918 639 Operating free cash flow Sep-22 13% 13% 11% 22% 21% 11% (111)% 1% 13% 100% 9% % margin² Jun-22 9% 5% (13)% 9% (20)% 7% (48)% 19% 15% 11% 2% 6 Harmony Gold Mining Company Limited | Operational Update for the three months ended 30 September 2022 OPERATING RESULTS – QUARTER ON QUARTER (RAND/METRIC) continued SOUTH AFRICA SURFACE PRODUCTION Three Central TOTAL months Mine Plant Savuka TOTAL SOUTH Hidden TOTAL ended Waste Solutions Phoenix Reclamation Tailings Dumps Kalgold SURFACE AFRICA Valley HARMONY Sep-22 6 263 1 607 1 006 987 1 133 332 11 328 12 912 1 004 13 916 Ore milled t'000 Jun-22 5 519 1 567 1 013 969 1 298 348 10 714 12 344 944 13 288 Sep-22 0.114 0.123 0.143 0.146 0.380 0.87 0.17 0.80 1.01 0.82 Yield g/tonne Jun-22 0.109 0.128 0.157 0.152 0.353 0.78 0.17 0.85 1.48 0.89 Sep-22 711 198 144 144 431 289 1 917 10 384 1 012 11 396 Gold produced kg Jun-22 600 200 159 147 458 271 1 835 10 478 1 401 11 879 Sep-22 694 201 137 135 410 285 1 862 10 632 1 031 11 663 Gold sold kg Jun-22 602 205 173 139 462 269 1 850 10 212 1 404 11 616 Sep-22 781 914 945 244 968 467 957 578 963 634 971 063 894 972 954 150 962 808 954 916 Gold price received R/kg Jun-22 774 437 940 727 960 150 969 511 957 013 959 959 897 458 948 574 916 284 944 671 Sep-22 631 946 189 994 132 680 129 273 395 090 276 753 1 755 736 10 233 825 992 655 11 226 480 Gold revenue¹ R'000 Jun-22 566 282 192 849 166 106 134 762 442 140 258 229 1 760 368 9 786 912 1 286 463 11 073 375 Cash operating cost Sep-22 483 203 129 704 85 888 83 698 449 510 219 208 1 451 211 8 055 487 579 563 8 635 050 (net of by-product R'000 credits) Jun-22 399 720 112 492 74 515 71 309 397 088 207 466 1 262 590 7 786 837 673 857 8 460 694 Sep-22 (17 338) (149) (5 590) (6 287) (20 457) (6 324) (56 145) 111 857 37 245 149 102 Inventory movement R'000 Jun-22 12 622 3 465 6 198 (3 890) 2 275 2 275 22 945 (192 331) (22 831) (215 162) Sep-22 465 865 129 555 80 298 77 411 429 053 212 884 1 395 066 8 167 344 616 808 8 784 152 Operating costs R'000 Jun-22 412 342 115 957 80 713 67 419 399 363 209 741 1 285 535 7 594 506 651 026 8 245 532 Sep-22 166 081 60 439 52 382 51 862 (33 963) 63 869 360 670 2 066 481 375 847 2 442 328 Production profit R'000 Jun-22 153 940 76 892 85 393 67 343 42 777 48 488 474 833 2 192 406 635 437 2 827 843 Sep-22 147 053 12 400 151 5 156 586 79 339 244 685 1 318 168 438 464 1 756 632 Capital expenditure R'000 Jun-22 139 479 15 282 5 661 7 495 3 997 83 937 255 851 1 579 834 144 979 1 724 813 Sep-22 679 610 655 071 596 444 581 236 1 042 947 758 505 757 022 775 760 572 691 757 726 Cash operating costs R/kg Jun-22 666 200 562 460 468 648 485 095 867 004 765 557 688 060 743 161 480 983 712 240 ...