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Harmony Gold Q1 FY27 gold production falls 12%

FY27 production, cost and grade guidance remained unchanged while Eva Copper construction advanced to 15% completion.

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Form Type
6-K

Rhea-AI Filing Summary

Harmony Gold Mining Company Limited (HMY) reported Q1 FY27 operational results for the three months ended September 30, 2026. Gold revenue rose 3% to R22.3 billion from R21.7 billion; production fell 12% to 10,661kg (342,758oz), within full-year guidance, mainly reflecting Moab Khotsong’s planned ore gap and a Hidden Valley stoppage that has since been resolved. Gold AISC rose 17% to R1,300,073/kg, at the lower end of guidance. CSA produced 7,077 tonnes of copper and recorded R1,280 million (US$79 million) in revenue.

FY27 production, cost and grade guidance remained unchanged. Net cash was R4.2 billion (US$243 million), versus net debt of R852 million at June 30, 2026; the net-cash figure conservatively assumes the convertible bond is accounted for as 100% debt, and that accounting treatment is under review. Liquidity was R30.2 billion. Harmony completed a US$500 million convertible bond with a 1.5% annual coupon; proceeds refinanced part of its drawn US$ revolving credit facility. Three employees died during the quarter, and the lost-time injury frequency rate was 5.04. Financial information has not been reviewed or audited.

Eva Copper construction was 15% complete. Stage 1 approval allows clearing and construction to recommence in defined areas, while Stage 2 approval is in progress.

1 point · 0 major

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0 major · 1 point

How the balance works

Positive

  • Moderate pointNet cash: R4.2 billion, conservatively treating the convertible bond as debt.

Negative

  • Minor pointThree employees died during Q1 FY27.

Filing Explained

CSA's Q1 reported cash cost per pound was two dollars seventy-two cents, above FY27 guidance of two dollars fifty-five to two dollars sixty-five cents.

For Eva Copper, construction remains underway; the quarter included R1.85 billion of project capital expenditure, while total project capital guidance remains US$1.55 billion to US$1.75 billion.

At CSA, Q1 reported cash cost per pound was US$2.72/lb, compared with FY27 guidance of US$2.55/lb to US$2.65/lb; Harmony says it expects unit costs to move back toward guidance as grades and production flexibility improve.

Gold revenue R22.3 billion, up 3% from R21.7 billion Q1 FY27 compared with Q1 FY26
Gold production 10,661kg (342,758oz), down 12% Q1 FY27 compared with Q1 FY26
Gold all-in sustaining cost R1,300,073/kg, up 17% Q1 FY27 compared with Q1 FY26
Copper production 7,077 tonnes CSA, Q1 FY27
Copper revenue R1,280 million (US$79 million) CSA, Q1 FY27
Net cash R4.2 billion (US$243 million) Versus net debt of R852 million at June 30, 2026; conservatively assumes the convertible bond is accounted for as 100% debt
Liquidity R30.2 billion Cash and undrawn facilities
Employee deaths 3 employees During Q1 FY27
All-in sustaining cost financial
"Gold all-in sustaining costs (AISC) were at the lower end of guidance"
All-in sustaining cost (AISC) is a per-unit measure that shows the full, ongoing cost to produce a commodity, typically an ounce of metal, including direct mining costs, sustaining capital (ongoing equipment and mine upkeep), royalties, and general overhead. For investors it matters because AISC reveals the durable earning power and true profit margin of a producer—like calculating the total monthly cost to own and operate a car to judge whether selling rides is profitable over time.
C1 cash cost financial
"at a C1 cash cost of US$2.72/lb"
C1 cash cost is a per-unit measure of the direct cash outlay required to produce a commodity, covering day-to-day expenses like extraction, processing and on-site labor but typically excluding long-term investments such as major equipment replacement or development projects. Investors use it like a baker watching the cost of ingredients per loaf: it shows operating efficiency and helps compare producers’ short-term profitability and cash generation before bigger capital needs are considered.
zero cost collars financial
"rand gold zero cost collars at an average floor"
Mineral Reserve conversion technical
"low-cost Mineral Reserve conversion across both commodities"
lost-time injury frequency rate medical
"lost-time injury frequency rate (LTIFR) of 5.04"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much gold did HMY produce in Q1 FY27?

Harmony produced 10,661kg (342,758oz), 12% less than a year earlier. The company attributed the decline mainly to Moab Khotsong’s planned ore gap and a Hidden Valley regulatory stoppage, which has since been resolved.

When does HMY expect Eva Copper to begin production, and what is its capital range?

Eva Copper targets first production towards the end of calendar year 2028, pending the Referral 2 outcome. The project’s capital guidance range remains US$1.55 billion to US$1.75 billion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6­K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a­16 OR 15d­16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For November 9, 2026 Harmony Gold Mining Company Limited Randfontein Office Park Corner Main Reef Road and Ward Avenue Randfontein, 1759 South Africa (Address of principal executive offices) *-­ (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20­F or Form 40­F.) Form 20F ☒ Form 40F ☐ (Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3­2(b) under the Securities Exchange Act of 1934.) Yes ☐ No ☒


 

OPERATIONAL UPDATE for the three months ended 30 September 2026 (“Q1FY27”) vs 30 September 2025 ("Q1FY26") ENHANCING VALUE THROUGH CONSISTENT OPERATIONAL DELIVERY, STRONG CASH FLOWS AND QUALITY COPPER GROWTH Johannesburg, South Africa. Monday, 9 November 2026. Harmony Gold Mining Company Limited (Harmony or the Company) is pleased to report its operational update for the three months ended 30 September 2026. Harmony Gold Mining Company Limited Incorporated in the Republic of South Africa Registration number: 1950/038232/06 JSE share code: HAR NYSE share code: HMY ISIN: ZAE000015228 ("Harmony" or "the Company")


 

Safety and responsible stewardship • Safety remains our first priority, with strengthened critical controls, hazard identification, workplace examinations and increased frontline leadership accountability, reinforcing disciplined execution on every shift as we work towards Zero Harm • We pay our respects to our three employees who tragically lost their lives during the quarter • Group achieved a lost-time injury frequency rate (LTIFR) of 5.04 • Masimong and Kusasalethu achieved 5 million and 3 million loss of life free shifts respectively, evidence that our safety strategy is working • Water recycling rate of 79% against the FY27 target of 50% Operational excellence Gold • On-track to meet full-year production, cost and grade guidance for the financial year • Gold revenue increased by 3% to R22.3 billion (US$1.4 billion) from R21.7 billion (US$1.2 billion) • Group gold production of 10 661kg (342 758oz), down 12%, in line with guidance and mainly due to ore gap at Moab Khotsong and Hidden Valley regulatory stoppage • All-in sustaining cost (AISC) increased by 17% to R1 300 073/kg (US$2 484/oz), towards lower end of guidance • Delivered underground recovered grade of 5.53g/t, lower year-on-year as high-grade Moab Khotsong enters anticipated ore gap • Recovered grades at Mponeng increased by 10% to 11.55g/t • Production at Tshepong North increased by 23% to 1 020kg (32 794oz) driven by higher tonnes milled and higher grades • Average gold price received up 17% to R2 123 588/kg (US$4 057/oz) Copper • CSA remains on-track to meet full-year production, cost and grade guidance for the financial year • Copper revenue of R1 280 million (US$79 million). Comparable reporting period did not include CSA mine • Average copper price received of US$6.44/lb • Achieved production of 7 077 tonnes for the quarter supported by improved mining flexibility • Recovered grade of 3.15%, as disciplined adherence to the mining sequence delayed access to one of the higher-grade stopes • C1 cash cost of US$2.72/lb, above full-year guidance but aligned to plan. We remain confident of meeting full-year guidance as mining grades improve Balance sheet and capital allocation • Net cash position of R4.2 billion (US$243 million)1 • Liquidity of R30.2 billion (US$1.8 billion) in cash and undrawn facilities Salient features for the three months ended 30 September 2026 (Q1 FY27) vs 30 September 2025 (Q1 FY26) • Successfully executed US$500 million convertible bond offering, enhancing financial flexibility, optimising cost of capital while supporting the Group’s long-term growth ambitions Strategic growth • Eva Copper construction advanced following Final Investment Decision – Critical path construction continued unimpeded with overall construction now 15% complete and long-lead equipment arriving on site – Stage 1 federal government approval received allowing clearing and construction to recommence in defined areas on site, Stage 2 approval in progress – Original project capital guidance range unchanged and project remains on-track to deliver first production towards end of calendar year 2028, pending Referral 2 outcome • CSA capital ventilation project is progressing to plan, supporting the mine's long-term success and pathway to 40 000 tonnes per annum • Underground extension projects at Moab Khotsong, Mponeng, Tshepong North, Doornkop continue to advance For Q1FY27 royalties accounted for R59 448/kg (US$114/oz) or 5%of AISC. In Q1FY26, it was R60 062/kg (US$106/oz) or 4% Unless otherwise indicated, all currency conversions for this reporting period are at the average exchange rate of R16.28/US$1 (Q1FY26: R17.63/US$1) 1. Conservatively assuming the convertible bond is accounted for as 100% debt. Accounting treatment is currently being reviewed. Please note that financial information has not been reviewed or audited by the Company's external auditors. Any pro-forma financial information is the responsibility of the Board of Directors and is presented for illustration purposes only, and because of its nature, it may not fairly present the Company’s financial position 1HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026


 

Overview Harmony delivered a steady operational performance from both its gold portfolio and the CSA copper mine in the first quarter of the 2027 financial year (Q1FY27). Gold all-in sustaining costs (AISC) were at the lower end of guidance, the business continued to generate strong cash flows and we remain confident of meeting our FY27 Group production, cost and grade guidance. At Harmony, everything begins with safety. It is with deep sadness that we report the loss of three colleagues during the quarter. We extend our heartfelt condolences to their families, friends and colleagues. To further improve our safety, our investigations translate directly into action. We are strengthening hazard identification and workplace examinations, verification of critical controls, engineering and ground-support standards, supervisory accountability and assurance, while accelerating the sharing of lessons across our operations. Importantly, safety is not simply about having the right systems and controls; it is about executing them effectively, every shift, in every workplace, without exception. No ounce, tonne or project is worth a life, and we remain resolute in our commitment to Zero Harm. Five years ago, Harmony was predominantly a South African gold producer. Today, we are a higher-quality gold and copper producer operating in South Africa, Papua New Guinea and Australia, with a clear growth trajectory. That shift was deliberate. We set out to build a business that produces safer, higher-quality ounces, has a longer life and depends less on any single commodity, mine or country. This quarter shows that strategy at work. Margins at our gold operations remain robust. CSA is now an established part of the Group, contributing copper revenue alongside our gold as Moab Khotsong moves through its planned gold ore gap, as we previously guided. The Eva Copper Project remains on track and has passed another key approval milestone on its path to production. Our substantial, high-quality mineral endowment further supports this. As disclosed in our Mineral Resources and Mineral Reserves statement at 30 June 2026, we had attributable gold Mineral Reserves of 27.4Moz and gold Mineral Resources of 106.8Moz, along with attributable copper Mineral Reserves of 4.0Mt and copper Mineral Resources of 7.4Mt. This gives us long-life optionality through low-cost Mineral Reserve conversion across both commodities and positions Harmony to continue creating value for shareholders across commodity cycles. Gold: the cornerstone of our success Gold remains the foundation of our business. Gold revenue increased by 3% to R22.3 billion (US$1.4 billion) from R21.7 billion (US$1.2 billion) in the comparative period. This was mainly due to a 17% increase in the average gold price received, to R2 123 588/kg (US$4 057/oz) from R1 818 510/kg (US$3 209/oz). Gold production was 10 661kg (342 758oz), 12% lower year on year, as expected, and within our full-year guidance. This mainly reflects planned lower output at Moab Khotsong which has entered the anticipated ore gap. Hidden Valley was affected by a regulatory stoppage, which has since been resolved, and the operation has returned to normal production. Ore reserve management indicators remained broadly encouraging during the quarter. Underground mining grades were above plan at most operations, and geological drilling exceeded plan. Significant intersections were returned across several key orebodies (see 'Exploration'), particularly at Mponeng, Tshepong North, Doornkop and Masimong, adding geological confidence around existing and prospective mining areas. Although underground belt grades were above plan, slightly lower plant recoveries during the quarter weighed on recovered grades. Underground recovered grade decreased by 6% to 5.53g/t from 5.91g/t in the comparable period, mainly reflecting Moab Khotsong where recovered grade was 5.77g/t. Mponeng partly offset the decline, delivering 11.55g/t, a 10% increase year-on-year. Underground recovered grades remain consistent with FY27 guidance of about 5.6g/t. AISC was R1 300 073/kg (US$2 484/oz), at the lower end of our FY27 guidance of R1 300 000/kg to R1 395 000/kg. The year-on-year increase mainly reflects annual inflationary increases in labour and electricity, high gold price-linked royalties, increased development capital and lower volumes from Moab Khotsong. Cash operating costs remain well controlled, increasing by only 7% for our gold portfolio, well below our planned mining inflation of 10%. With the conflict in the Middle East ongoing, it is worth noting that diesel is a small part of our cost base, at around 50 litres per gold-equivalent ounce. This leaves Harmony relatively well insulated from higher global energy costs. Copper: delivering growth and protecting cash flows Copper is now a meaningful and growing part of Harmony. CSA generated copper revenue of R1.3 billion (US$78.6 million) in Q1FY27, at an average copper price received of US$6.44/lb. Harmony completed the acquisition of CSA on 24 October 2025, as a result, there is no comparable figure for Q1FY26. This revenue is additional to our gold business. It gives shareholders growing exposure to strong copper fundamentals as we progress towards about 100 000 tonnes of high-margin copper per annum, once Eva Copper is in production and CSA reaches the targeted 40 000 tonnes per annum. CSA produced 7 077 tonnes of copper at a C1 cash cost of US$2.72/lb. While the recovered grade of 3.15% was below guidance, it reflects the mining sequence rather than orebody quality. We are improving stope availability and maintaining development rates to restore production flexibility and lift grades in the coming quarters. We expect C1 cash costs to move back towards guidance as grades and production flexibility improve over the financial year. The Eva Copper Project is the next catalyst in our copper journey and continues to progress towards first production in the second half of calendar year 2028. Construction is now 15% complete and advancing with 700 construction workers mobilised to site. The permanent village has been completed and approximately 19% of total concrete has been poured including the commencement of the primary crusher, coarse ore stockpile, ball and SAG mills and thickeners flotation foundations. Long-lead equipment has started arriving on site ahead of installation in 2027. We welcome the recent approval under the Environment Protection and Biodiversity Conservation Act 1999 which allows clearing and bulk earthworks including related construction and pre-stripping, to recommence. This is an important step in our staged approval process. A second referral has been submitted, and we will provide the market with material updates. The total project capital range of US$1.55 billion to US$1.75 billion remains unchanged. Resilience: robust balance sheet and consistent hedging Our balance sheet is robust, flexible and actively managed to fund our capital programme, pursue our strategic priorities and sustain shareholder returns. Strong cash generation returned the Group to a net cash position of R4.2 billion (US$243 million), from net debt of R852 million (US$52 million) at 30 June 2026. Our successful US$500 million convertible bond was multiple times oversubscribed enabling us to achieve a low coupon of 1.5% per annum. We took this proactive step from a position of strength. The proceeds refinanced part of the drawn US$ revolving credit facility, lowering our funding costs and better aligning our debt maturities with the long-dated Group capital expenditure profile. At 30 September 2026, gross cash was R20.7 billion (US$1.3 billion). Total liquidity, including cash and undrawn facilities, was about R30.2 billion (US$1.8 billion). Our capital programme remains fully funded. Hedging remains an important risk-management tool. It gives us greater certainty over part of our future revenue while keeping meaningful exposure to commodity prices. Strong gold prices allowed us to replace Message from the chief executive officer HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 2


 

3 Message from the chief executive officer continued HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 maturing hedges at materially higher levels, which improved the quality of the hedge book. At the end of the quarter, Harmony had hedged 600 000 ounces (18 662kg) using rand gold zero cost collars at an average floor of R2 207 000/kg and cap of R2 477 000/kg. FY27 Production, grade and cost guidance: unchanged Our guidance is underpinned by detailed mine plans built on an excellent understanding of our orebodies, supported by rigorous geological modelling, operational planning and disciplined execution. Having completed the first quarter of this financial year, we have maintained the FY27 group production guidance of 1 400 000 to 1 500 000 ounces of gold and gold equivalents*, with increased copper production expected to offset the planned reduction in gold output due to the Moab Khotsong ore gap. The respective gold and copper production guidance ranges are set out below. Gold • 1 300 000oz to 1 400 000oz in total production • underground recovered grade of approximately 5.60g/t • overall AISC guidance between R1 300 000/kg and R1 395 000/kg Copper • 28 000 tonnes to 30 000 tonnes in production • yield of approximately 3.50% • C1 cash cost of between US$2.55/lb to US$2.65/lb * Gold equivalent ounces are calculated assuming US$2 915/oz Au, US$4.78/lb Cu, US$38.90/oz Ag, assuming a 100% recovery for all metals. Conclusion Excellence underpins all we do and our priorities for the rest of FY27 remain clear. At Harmony, safety always comes first. We remain committed to embedding critical controls and accountability on every shift as we work towards Zero Harm. Operationally, our focus remains on delivering our unchanged guidance for the financial year, while carefully managing the planned ore gap at Moab Khotsong. We will continue to execute our growth strategy with a clear focus on delivery and value creation. Our key projects remain on track and are actively managed, while our exploration programme unlocks value from our substantial mineral endowment through low-cost Mineral Reserve conversion. Harmony is building on a solid foundation. With sound fundamentals, a net cash balance sheet and a fully-funded capital programme, we are well positioned to deliver on our priorities and go from strength to strength in the months and years ahead. I thank every Harmony employee and our stakeholders for their continued commitment and contribution. Beyers Nel Chief executive officer


 

Safety The health and safety of our people remain our highest priority. Each loss of life is a profound reminder that mining is about people, families and lives and that zero harm demands unwavering attention, discipline and accountability every day. Our lost-time injury frequency rate (LTIFR) for Q1FY27 was 5.04, compared with 5.80 in Q4FY26 and 4.29 in Q1FY26. While below the comparable level at the end of FY26, more needs to be done to improve our safety performance and we are responding decisively. Alongside the interventions discussed in the overview, we continue to invest in technology that can identify risk earlier and progressively remove people from harm's way, including artificial intelligence-enabled monitoring, geotechnical and environmental monitoring, remote sensing, tele-remote operation and greater mechanisation. Safety is also embedded in management accountability, with 20% of management's performance scorecard linked to safety, encompassing both leading indicators and LTIFR performance. Our objective remains zero harm. Every person returning home safely, every day. We know what needs to be done and our focus is clear: stronger leadership across all our operations, rigorous application and verification of critical controls, continuous learning and the disciplined execution required to make every workplace safer. Consistent and predictable delivery Production comes from a diverse portfolio. This lowers our operational risk and our reliance on any single asset. Our assets are grouped as follows: • our two high reserve grade, long-life underground gold mines, Mponeng and Moab Khotsong • seven highly operationally levered, lower reserve grade underground gold mines in the Free State and West Wits regions of South Africa • our high-margin, low-risk surface operations, including our substantial South African surface retreatment operations and our two open pit mines, Kalgold in South Africa and Hidden Valley in Papua New Guinea • high-grade copper from the underground CSA mine in Cobar, Australia Each group of assets has its own plan, risk profile and strategy. This lets us deliver as guided and get the best from every asset as we improve the quality of our portfolio and deliver strong cash flows. For detailed figures for each operation, please refer to the operating tables on pages 10 to 18. Gold South African underground high-grade operations (reserve grade >7g/t) Mponeng delivered another strong quarter. Recovered grade increased by 10% to 11.55g/t from 10.54g/t, and production was steady at 2 725kg (87 611oz). Production from this group declined by 15% to 3 596kg (115 614oz). This was mainly due to lower volumes and recovered grades at Moab Khotsong, which has entered the planned ore gap. Moab Khotsong produced 871kg (28 003oz) at 5.77g/t. This dip is already built into our FY27 guidance. South African underground optimised operations (reserve grade <7g/t) Our optimised portfolio (Tshepong North, Tshepong South, Doornkop, Kusasalethu, Joel, Target 1 and Masimong) produced 4 113kg (132 235oz), or 39% of Group gold production. These mines remain highly levered to the gold price. Tshepong North had a solid quarter, producing 1 020kg (32 794oz) at 4.88g/t. Target 1 continued its turnaround, with production increasing by 4% year on year, and 53% quarter on quarter. South African surface and retreatment operations Mine Waste Solutions, Savuka Tailings, Central Plant Reclamation, Phoenix, Kalgold and the rock dumps produced 1 808kg (58 129oz) in total and continue to deliver excellent margins. Volumes processed were 11.8Mt, a 6% increase year on year. Mine Waste Solutions, Central Plant Reclamation, Savuka Tailings and Phoenix remain low-risk and high-margin contributors. Hidden Valley Hidden Valley produced 1 144kg (36 780oz) at a recovered grade of 1.49g/t, on lower volumes milled due to the regulatory stoppage which has been resolved and necessary repair work to the SAG mill. Silver production increased by 5% to 530 076oz from 505 888oz in the comparative quarter. The silver price received increased by 56% to US$62.91/oz from US$40.37/oz. As a result, silver revenue at Hidden Valley increased by 41% to R539 million (US$33 million) from R381 million (US$22 million). This operation remains one of our lowest-cost operations, with an all-in sustaining cost (AISC) of R936 298/kg (US$1 789/oz) including the silver by-product credits. Copper CSA copper mine CSA produced 7 077t of copper, in-line with guidance, at a recovered grade of 3.15% and a C1 cash cost of US$2.72/lb. Grades were lower as we establish the mining sequence. Optimisation work, together with the ventilation project, will support improved performance and our pathway to about 40ktpa. CSA generated R1.3 billion in copper revenue for the quarter. Well-controlled costs and margin protection Costs remain well controlled. Gold cash operating costs were in line with plan and increased below mining inflation, reflecting our proactive approach to cost management. Total cash operating costs, net of by-product credits, increased by 14% to R12 799 million (US$786 million) from R11 260 million (US$639 million) in Q1FY26. Most of this increase is a base effect: CSA contributed R718 million (US$44 million) in the quarter and was not part of the Group in the comparative period. Excluding CSA, cash operating costs for our gold operations increased by 7% to R12 081 million (US$742 million). The increase mainly reflects annual wage increases and higher bonuses, together with annual electricity tariff increases and winter tariffs. Royalty payments in South Africa are calculated on a sliding scale based on both revenue and profitability. Gold royalties remain significant at R562 million (US$35 million), representing roughly 5% of gold cash operating costs. This compares with R647 million (US$37 million), or 6%, in Q1FY26. Gold cash operating cost per kilogram increased by 22% to R1 133 210/kg (US$2 165/oz) from R928 439/kg (US$1 638/oz), mainly due to planned lower production alongside the increases mentioned above. Gold AISC rose by 17% to R1 300 073/kg (US$2 484/oz) from R1 107 486/kg (US$1 954/oz) in Q1FY26. This is at the lower end of FY27 guidance. The increase reflects lower gold sold and increased ongoing development capital, as previously guided. Because CSA is reported as a separate copper segment, its revenue is not deducted as a by-product credit. Gold AISC therefore shows the true cost of our gold business, without being lowered by copper revenue. Quarter on quarter, AISC increased by only 3% compared with Q4FY26. Additional operational and financial information HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 4


 

Additional operational and financial information continued Gold All-in costs (AIC) increased by 16% to R1 407 019/kg (US$2 688/oz) from R1 218 721/kg (US$2 150/ oz), reflecting our continued investment in major projects. CSA's cash operating costs, net of by-product credits, were R718 million (US$44 million). That was 5% below plan, mainly due to lower labour and consumables costs. C1 cash costs were US$2.72/lb, above our FY27 guidance of US$2.55/lb to US$2.65/lb. This mainly reflects lower recovered grades as the mining sequence is established. Costs are well controlled. We expect unit costs to move back towards guidance as grades and production flexibility improve over the year. Capital expenditure and projects Alongside our ongoing investment in sustaining our orebodies and operations, disciplined project execution remains central to long-term value creation. Our Central Projects team actively oversees the portfolio, with a strong focus on schedule, cost, quality and the achievement of key project milestones. Across our brownfield and greenfield portfolio, projects continue to progress, with execution priorities actively managed to support the Group’s long-term objectives. Group operational capital expenditure for the quarter was R3 022 million (US$186 million) compared to R2 873 million (US$163 million) in the comparative reporting period. This includes sustaining and growth capital at our gold operations and CSA mine. At the Eva Copper Project, capital expenditure for the quarter amounted to R1 850 million (US$114 million). R million US$ million Gold capital expenditure Q1FY27 Q1FY27 Sustaining capital 1 745 107 Growth capital* (brownfields) 1 038 64 Total gold capital expenditure 2 783 171 * Includes capital related to renewables Copper capital expenditure CSA mine Sustaining capital 238 15 Growth capital (brownfields) — — Total CSA mine capital expenditure 238 15 Total gold and CSA capital expenditure 3 022 186 Eva Copper Project Project capital (greenfields) 1 850 114 The Moab Khotsong extension (Zaaiplaats) is a key life-extension project, providing access to approximately 3.8Moz in high-grade gold resource below existing infrastructure. Development was impacted by safety- related stoppages and geotechnical challenges during the quarter. Enhanced ground-control measures, additional geological drilling and operational interventions have been introduced to support improved development performance. Mponeng's life-extension programme continues to advance access to the Ventersdorp Contact Reef (VCR) and Carbon Leader Reef (CLR) below existing infrastructure alongside the Tau Tona pillar extraction project. Together, these will access approximately 3.6Moz in Reserves. Development performance improved in key areas during the quarter, although overall development remains behind plan following the transition between mining contractors and equipment availability constraints. Tshepong's life-extension project had a positive first quarter, with development ahead of plan, costs aligned with the overall estimate and initial construction milestones on track. The project accesses 1.1Moz in Reserves and extends the life of the mine to 15 years while leveraging existing infrastructure. Doornkop's 207/212 life-extension project continued to progress, with quarterly development ahead of plan and key ventilation and electrical infrastructure milestones completed. The 207/212 project is designed to replace production tonnes from existing levels and accesses approximately 1.3Moz in Mineral Reserves. This project includes additional exploration drilling to increase the resources available for mining. At Mine Waste Solutions, the Mispah 1 pump station was successfully commissioned during the quarter, enabling reclamation of the 71Mt Mispah 1 tailings facility. The pump station was commissioned on 8 July 2026. Harmony continues to advance its renewable-energy strategy, with Sungazer 2 progressing through phased energisation and further solar and battery-storage projects advancing through development and procurement. The programme is aimed at increasing renewable-energy usage and reducing reliance on grid electricity across the South African portfolio. Our disciplined capital deployment strategy focuses on projects that deliver solid returns and sustainable long-term value, positioning Harmony to fund its growth initiatives while maintaining financial strength. In Australasia, we continue to advance a portfolio of projects aimed at unlocking the significant potential of our existing assets. The Stage 9 life-of-mine extension at Hidden Valley is progressing through feasibility study and early works, with the potential to extend mine life by six years. At CSA, the Capital Ventilation Project continues to advance, with good progress made on access development and the project delivery approach refined to support efficient execution. Key development required for the project has largely been completed, while earlier ventilation design challenges have been resolved. The revised contracting and execution approach is progressing through the appropriate approval process, providing a clearer pathway for the next phase of development. In parallel with the Eva Copper Project construction, asset optimisation studies and related test work are underway to maximise future copper recoveries and enhance long-term project value. Importantly, we are progressing long-term power supply initiatives, including potential onsite wind generation and a potential connection to the regional North West Power System electricity grid. At Wafi Golpu, discussions between Harmony, our joint venture partner Newmont Corporation and the Papua New Guinea Government to secure the special mining lease are continuing. Exploration Harmony's exploration focuses on growing and upgrading the mineral endowment it already owns, close to existing or planned infrastructure. This is a lower-cost, lower-risk path to Mineral Reserve growth and longer mine lives. This quarter, drilling returned high-quality results across both regions. South Africa Exploration drilling across our South African operations continued to deliver encouraging results, increasing geological confidence and supporting Mineral Reserve conversion and mine-life extension. Strong drilling outcomes at Mponeng and encouraging results across several other operations reinforce the value embedded within our existing mineral endowment. With much of this exploration located close to established mining infrastructure, the programme provides a capital-efficient pathway to bring additional ounces into our mine plans, supporting the long-term sustainability and quality of our South African portfolio. 5HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026


 

Additional operational and financial information continued Australasia Over 23 500 m of drilling was completed across Harmony’s Australasian copper and gold portfolio during the quarter, focused on increasing confidence in existing resources, testing extensions to known mineralisation and advancing new growth opportunities. At CSA, underground drilling continued to confirm the very high-grade nature of QTS South Uppers copper system and extend QTS North mineralisation beyond the current resource limit. Surface drilling at CSA ramped up to three rigs to advance the QTS Extension program, aimed at testing the main high-grade mineralised zones at depth below the mine. Regional exploration also progressed, including completion of a 7 499 line-km airborne magnetic and radiometric survey to support ongoing target generation. Resource-conversion drilling at Eva Copper continued along the Blackard-Legend trend, while first-pass drilling at Ivy Ann North identified a potential new zone of copper mineralisation approximately 1 km north of the existing deposit, with laboratory assays pending. At Wafi-Golpu, drilling recommenced during the quarter, targeting a potential continuation of the high-grade gold mineralisation of the Wafi Link Zone below the Reid Thrust. Encouraging zones of sulphide mineralisation were intersected, with results from the principal target zone pending. Ends. 6HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026


 

Comparative operational metrics for Q1FY27 vs Q4FY26 and Q1FY26 Gold operating results Unit Q1FY27 Q4FY26 Q-on-q (%) Q1FY26 Y-on-y (%) Average gold price received R/kg 2 123 588 2 209 814 (4) 1 818 510 17 $/oz 4 057 4 172 (3) 3 209 26 Underground yield g/t 5.53 5.76 (4) 5.91 (6) Gold produced total kg 10 661 11 071 (4) 12 128 (12) oz 342 758 355 941 (4) 389 923 (12) South African underground optimised1 kg 4 113 4 134 (1) 4 466 (8) oz 132 235 132 911 (1) 143 585 (8) South African underground high grade2 kg 3 596 3 585 — 4 211 (15) oz 115 614 115 260 — 135 386 (15) South African surface3 kg 1 808 1 652 9 1 952 (7) oz 58 129 53 114 9 62 758 (7) International (Hidden Valley) kg 1 144 1 700 (33) 1 499 (24) oz 36 780 54 656 (33) 48 194 (24) Total cash costs R/kg 1 133 210 1 033 918 (10) 928 439 (22) $/oz 2 165 1 952 (11) 1 638 (32) Group AISC R/kg 1 300 073 1 260 531 (3) 1 107 486 (17) US$/oz 2 484 2 380 (4) 1 954 (27) Group AIC R/kg 1 407 019 1 369 265 (3) 1 218 721 (16) US$/oz 2 688 2 585 (4) 2 150 (25) Average exchange rate R/US$ 16.28 16.47 (1) 17.63 (8) 1 Tshepong South, Tshepong North, Target 1, Joel, Masimong, Doornkop and Kusasalethu 2 Mponeng and Moab Khotsong 3 Mine Waste Solutions, Phoenix, Central Plant, Savuka Tailings, Dumps and Kalgold HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 7


 

Copper operating results Unit Q1FY27 Q4FY26 Q-on-q (%) Q1FY26* Y-on-y* (%) Copper price received US$/lb 6.44 6.06 6 n/a n/a US$/t 14 188 13 366 6 n/a n/a Copper produced total t 7 077 8 611 (18) n/a n/a lbs'000 15 602 18 984 (18) n/a n/a Yield % 3.15 4.10 (23) n/a n/a C1 costs US$/lb 2.72 2.41 (13) n/a n/a US$/t 5 995 5 317 (13) n/a n/a Total costs and capital US$/lb 3.76 3.58 (5) n/a n/a US$/t 8 300 7 902 (5) n/a n/a Production profit R million 702 985 (29) n/a n/a US$ million 43 60 (28) n/a n/a Exchange rate R/US$ 16.28 16.47 (1) 17.63 (8) * No comparative figures as CSA was only acquired on 24 October 2025. Comparative operational metrics for Q1FY27 vs Q4FY26 and Q1FY26 continued HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 8


 

Hedge position as at 30 September 2026 FY2027 FY2028 FY2029 FY2030 TotalH1 H2 H1 H2 H1 H2 H1 Rand gold koz 76 160 120 112 74 52 6 600 Collars Floor R'000/kg 1 895 2 024 2 082 2 339 2 596 2 619 2 682 2 207 Cap R'000/kg 2 139 2 287 2 345 2 621 2 875 2 926 2 971 2 477 Dollar gold koz 12 22 19 18 9 4 — 84 Collars Floor US$/oz 3 340 3 560 3 323 3 992 4 449 4 810 — 3 722 Cap US$/oz 3 714 3 979 3 681 4 453 4 899 5 360 — 4 140 Rand gold Forward contracts koz 14 20 10 — — — — 44 R’000/kg 1 693 1 735 1 792 — — — — 1 734 Dollar gold Forward contracts koz 3 6 1 — — — — 10 $/oz 2 644 2 765 2 760 — — — — 2 728 Total gold koz 105 208 150 130 83 56 6 738 Currency hedges Rand dollar Zero cost collars $m 18 22 12 — — — — 52 Floor R/$ 18.27 16.68 15.86 — — — — 17.04 Cap R/$ 20.27 18.68 17.86 — — — — 19.04 Dollar silver Zero cost collars koz 330 620 540 450 20 — — 1 960 Floor $/oz 32.18 36.23 59.98 70.20 65.58 — — 50.19 Cap $/oz 36.68 41.02 67.33 80.31 74.58 — — 56.90 HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 9


 

Three months ended SOUTH AFRICA UNDERGROUND PRODUCTION Moab Khotsong Mponeng High-grade operations Tshepong North Tshepong South Doornkop Joel Target 1 Kusasalethu Masimong Optimised operations TOTAL UNDER- GROUND Ore milled/tailings processed t'000 Sep-26 151 236 387 209 114 212 113 127 133 98 1 006 1 393 Jun-26 184 218 402 186 107 222 95 100 128 99 937 1 339 Yield g/tonne Sep-26 5.77 11.55 9.29 4.88 4.55 3.17 3.19 3.35 5.50 3.92 4.09 5.53 Jun-26 6.16 11.24 8.92 5.78 5.35 3.28 3.66 2.79 5.65 4.13 4.41 5.76 Gold produced kg Sep-26 871 2 725 3 596 1 020 519 672 361 426 731 384 4 113 7 709 Jun-26 1 134 2 451 3 585 1 075 572 728 348 279 723 409 4 134 7 719 Gold sold kg Sep-26 859 2 743 3 602 967 492 657 342 402 736 363 3 959 7 561 Jun-26 1 351 2 487 3 838 1 140 607 714 369 277 733 434 4 274 8 112 Gold price received R/kg Sep-26 2 132 241 2 130 284 2 130 750 2 125 551 2 123 467 2 127 362 2 122 760 2 119 172 2 129 147 2 127 678 2 125 567 2 128 037 Jun-26 2 258 945 2 211 923 2 228 475 2 204 912 2 200 689 2 194 080 2 198 645 2 187 877 2 211 734 2 197 124 2 201 237 2 214 124 Gold revenue R'000 Sep-26 1 831 595 5 843 368 7 674 963 2 055 408 1 044 746 1 397 677 725 984 851 907 1 567 052 772 347 8 415 121 16 090 084 Jun-26 3 051 835 5 501 052 8 552 887 2 513 600 1 335 818 1 566 573 811 300 606 042 1 621 201 953 552 9 408 086 17 960 973 Cash operating cost (net of by-product credits) R'000 Sep-26 1 556 205 2 304 221 3 860 426 1 038 061 878 565 927 351 604 407 768 121 1 206 924 582 669 6 006 098 9 866 524 Jun-26 1 593 386 2 150 320 3 743 706 1 008 814 861 921 894 773 556 837 712 698 1 133 958 607 757 5 776 758 9 520 464 Inventory movement R'000 Sep-26 (8 097) 42 400 34 303 (94 421) (45 009) (31 122) (37 297) (77 031) 18 652 (34 844) (301 072) (266 769) Jun-26 137 003 19 170 156 173 89 002 40 935 (19 465) 12 671 (3 969) 38 323 19 589 177 086 333 259 Operating costs R'000 Sep-26 1 548 108 2 346 621 3 894 729 943 640 833 556 896 229 567 110 691 090 1 225 576 547 825 5 705 026 9 599 755 Jun-26 1 730 389 2 169 490 3 899 879 1 097 816 902 856 875 308 569 508 708 729 1 172 281 627 346 5 953 844 9 853 723 Production profit/(loss) R'000 Sep-26 283 487 3 496 747 3 780 234 1 111 768 211 190 501 448 158 874 160 817 341 476 224 522 2 710 095 6 490 329 Jun-26 1 321 446 3 331 562 4 653 008 1 415 784 432 962 691 265 241 792 (102 687) 448 920 326 206 3 454 242 8 107 250 Sustaining capital expenditure R'000 Sep-26 74 642 198 575 273 217 150 624 114 134 157 644 65 434 105 370 99 632 60 048 752 886 1 026 103 Jun-26 169 449 233 034 402 483 233 681 160 030 200 586 115 709 140 184 122 155 27 998 1 000 343 1 402 826 Major capital expenditure (incl. renewables) R'000 Sep-26 370 321 428 456 798 777 93 355 14 241 89 794 — — 3 428 — 200 818 999 595 Jun-26 435 483 317 594 753 077 48 433 39 280 146 503 — (295) — — 233 921 986 998 Capital expenditure R'000 Sep-26 444 963 627 031 1 071 994 243 979 128 375 247 438 65 434 105 370 103 060 60 048 953 704 2 025 698 Jun-26 604 932 550 628 1 155 560 282 114 199 310 347 089 115 709 139 889 122 155 27 998 1 234 264 2 389 824 Cash operating costs R/kg Sep-26 1 786 688 845 586 1 073 533 1 017 707 1 692 803 1 379 987 1 674 258 1 803 101 1 651 059 1 517 367 1 460 272 1 279 871 Jun-26 1 405 102 877 324 1 044 269 938 432 1 506 855 1 229 084 1 600 106 2 554 473 1 568 407 1 485 958 1 397 377 1 233 380 Cash operating costs R/tonne Sep-26 10 306 9 764 9 975 4 967 7 707 4 374 5 349 6 048 9 075 5 946 5 970 7 083 Jun-26 8 660 9 864 9 313 5 424 8 055 4 031 5 861 7 127 8 859 6 139 6 165 7 110 Cash operating cost and Capital R/kg Sep-26 2 297 552 1 075 689 1 371 641 1 256 902 1 940 154 1 748 198 1 855 515 2 050 448 1 792 044 1 673 742 1 692 147 1 542 641 Jun-26 1 938 552 1 101 978 1 366 601 1 200 863 1 855 299 1 705 854 1 932 603 3 055 867 1 737 362 1 554 413 1 695 941 1 542 983 All-in sustaining cost R/kg Sep-26 1 872 057 929 707 1 154 437 1 136 623 1 929 925 1 605 502 1 855 691 1 972 301 1 818 855 1 694 756 1 637 999 1 407 634 Jun-26 1 452 994 1 007 601 1 164 382 1 200 458 1 854 035 1 569 340 1 923 859 3 123 696 1 833 284 1 401 297 1 670 931 1 431 269 Operating results – Quarter on quarter (Rand/Metric) HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 10


 

Operating results – Quarter on quarter (Rand/Metric) continued Three months ended SOUTH AFRICA Hidden Valley TOTAL HARMONY GOLD ASSETS SURFACE PRODUCTION TOTAL SOUTH AFRICA Mine Waste Solutions Phoenix Central Plant Reclamation Savuka Tailings Dumps Kalgold TOTAL SURFACE Ore milled/tailings processed t'000 Sep-26 7 109 1 665 947 915 783 376 11 795 13 188 770 13 958 Jun-26 6 507 1 470 921 963 712 359 10 932 12 271 1 002 13 273 Yield g/tonne Sep-26 0.113 0.127 0.166 0.150 0.291 0.73 0.15 0.72 1.49 0.76 Jun-26 0.112 0.139 0.179 0.148 0.323 0.51 0.15 0.76 1.70 0.83 Gold produced kg Sep-26 800 211 157 137 228 275 1 808 9 517 1 144 10 661 Jun-26 726 204 165 143 230 184 1 652 9 371 1 700 11 071 Gold sold kg Sep-26 775 212 156 130 244 273 1 790 9 351 1 154 10 505 Jun-26 747 218 162 147 235 192 1 701 9 813 1 677 11 490 Gold price received R/kg Sep-26 2 132 339 2 225 420 2 132 013 2 126 708 2 143 086 2 129 249 2 143 920 2 131 077 2 062 901 2 123 588 Jun-26 2 216 458 2 377 839 2 197 759 2 198 367 2 215 511 2 234 370 2 235 687 2 217 862 2 162 725 2 209 814 Gold revenue R'000 Sep-26 1 652 563 471 789 332 594 276 472 522 913 581 285 3 837 616 19 927 700 2 380 588 22 308 288 Jun-26 1 655 694 518 369 356 037 323 160 520 645 428 999 3 802 904 21 763 877 3 626 889 25 390 766 Cash operating cost (net of by-product credits) R'000 Sep-26 745 329 190 810 111 999 114 136 351 490 349 442 1 863 206 11 729 730 351 426 12 081 156 Jun-26 651 548 179 778 77 260 101 533 334 831 264 908 1 609 858 11 130 322 316 179 11 446 501 Inventory movement R'000 Sep-26 (27 816) (811) (2 215) (7 449) — (6 202) (44 493) (311 262) (46 441) (357 703) Jun-26 21 830 11 741 (2 277) 2 897 — 8 109 42 300 375 559 (32 728) 342 831 Operating costs R'000 Sep-26 717 513 189 999 109 784 106 687 351 490 343 240 1 818 713 11 418 468 304 985 11 723 453 Jun-26 673 378 191 519 74 983 104 430 334 831 273 017 1 652 158 11 505 881 283 451 11 789 332 Production profit/(loss) R'000 Sep-26 935 050 281 790 222 810 169 785 171 423 238 045 2 018 903 8 509 232 2 075 603 10 584 835 Jun-26 982 316 326 850 281 054 218 730 185 814 155 982 2 150 746 10 257 996 3 343 438 13 601 434 Sustaining capital expenditure R'000 Sep-26 25 302 2 597 — 3 017 8 830 48 020 87 766 1 113 869 631 640 1 745 509 Jun-26 64 351 29 294 2 254 35 506 15 272 117 620 264 297 1 667 123 522 714 2 189 837 Major capital expenditure (incl. renewables) R'000 Sep-26 22 303 — 8 785 6 840 — — 37 928 1 037 523 — 1 037 523 Jun-26 41 020 — 18 886 3 384 — — 63 290 1 050 288 92 637 1 142 925 Capital expenditure R'000 Sep-26 47 605 2 597 8 785 9 857 8 830 48 020 125 694 2 151 392 631 640 2 783 032 Jun-26 105 371 29 294 21 140 38 890 15 272 117 620 327 587 2 717 411 615 351 3 332 762 Cash operating costs R/kg Sep-26 931 661 904 313 713 369 833 109 1 541 623 1 270 698 1 030 534 1 232 503 307 191 1 133 210 Jun-26 897 449 881 265 468 242 710 021 1 455 787 1 439 717 974 490 1 187 741 185 988 1 033 918 Cash operating costs R/tonne Sep-26 105 115 118 125 449 929 158 889 456 866 Jun-26 100 122 84 105 470 738 147 907 316 862 Cash operating cost and Capital R/kg Sep-26 991 168 916 621 769 325 905 058 1 580 351 1 445 316 1 100 055 1 458 561 859 323 1 394 258 Jun-26 1 042 588 1 024 863 596 364 981 979 1 522 187 2 078 957 1 172 788 1 477 722 547 959 1 334 953 All-in sustaining cost R/kg Sep-26 973 374 909 757 705 173 852 800 1 476 721 1 477 598 1 079 223 1 344 968 936 298 1 300 073 Jun-26 1 034 839 1 014 153 478 148 951 946 1 489 800 2 164 154 1 162 332 1 384 651 534 150 1 260 531 HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 11


 

Three months ended SOUTH AFRICA UNDERGROUND PRODUCTION Moab Khotsong Mponeng High-grade operations Tshepong North Tshepong South Doornkop Joel Target 1 Kusasalethu Masimong Optimised operations TOTAL UNDER- GROUND Ore milled/tailings processed t'000 Sep-26 151 236 387 209 114 212 113 127 133 98 1 006 1 393 Sep-25 207 257 464 201 121 211 108 118 130 116 1 005 1 469 Yield g/tonne Sep-26 5.77 11.55 9.29 4.88 4.55 3.17 3.19 3.35 5.50 3.92 4.09 5.53 Sep-25 7.25 10.54 9.08 4.13 6.15 3.27 3.48 3.48 7.89 3.34 4.44 5.91 Gold produced kg Sep-26 871 2 725 3 596 1 020 519 672 361 426 731 384 4 113 7 709 Sep-25 1 501 2 710 4 211 830 744 691 376 411 1 026 388 4 466 8 677 Gold sold kg Sep-26 859 2 743 3 602 967 492 657 342 402 736 363 3 959 7 561 Sep-25 1 460 2 705 4 165 798 715 662 362 349 1 024 373 4 283 8 448 Gold price received R/kg Sep-26 2 132 241 2 130 284 2 130 750 2 125 551 2 123 467 2 127 362 2 122 760 2 119 172 2 129 147 2 127 678 2 125 567 2 128 037 Sep-25 1 806 903 1 821 311 1 816 260 1 816 378 1 809 269 1 816 068 1 814 923 1 796 418 1 821 238 1 817 040 1 814 614 1 815 425 Gold revenue R'000 Sep-26 1 831 595 5 843 368 7 674 963 2 055 408 1 044 746 1 397 677 725 984 851 907 1 567 052 772 347 8 415 121 16 090 084 Sep-25 2 638 078 4 926 646 7 564 724 1 449 470 1 293 627 1 202 237 657 002 626 950 1 864 948 677 756 7 771 990 15 336 714 Cash operating cost (net of by-product credits) R'000 Sep-26 1 556 205 2 304 221 3 860 426 1 038 061 878 565 927 351 604 407 768 121 1 206 924 582 669 6 006 098 9 866 524 Sep-25 1 582 728 2 101 792 3 684 520 918 142 845 265 854 346 520 496 693 378 1 145 302 569 738 5 546 667 9 231 187 Inventory movement R'000 Sep-26 (8 097) 42 400 34 303 (94 421) (45 009) (31 122) (37 297) (77 031) 18 652 (34 844) (301 072) (266 769) Sep-25 (109 050) (12 857) (121 907) (63 386) (40 040) (37 584) (22 042) (115 495) (16 661) (32 156) (327 364) (449 271) Operating costs R'000 Sep-26 1 548 108 2 346 621 3 894 729 943 640 833 556 896 229 567 110 691 090 1 225 576 547 825 5 705 026 9 599 755 Sep-25 1 473 678 2 088 935 3 562 613 854 756 805 225 816 762 498 454 577 883 1 128 641 537 582 5 219 303 8 781 916 Production profit/(loss) R'000 Sep-26 283 487 3 496 747 3 780 234 1 111 768 211 190 501 448 158 874 160 817 341 476 224 522 2 710 095 6 490 329 Sep-25 1 164 400 2 837 711 4 002 111 594 714 488 402 385 475 158 548 49 067 736 307 140 174 2 552 687 6 554 798 Sustaining capital expenditure R'000 Sep-26 74 642 198 575 273 217 150 624 114 134 157 644 65 434 105 370 99 632 60 048 752 886 1 026 103 Sep-25 85 405 213 345 298 750 137 166 94 136 130 779 59 623 80 845 75 196 20 385 598 130 896 880 Major capital expenditure (incl. renewables) R'000 Sep-26 370 321 428 456 798 777 93 355 14 241 89 794 — — 3 428 — 200 818 999 595 Sep-25 408 383 354 382 762 765 26 577 36 872 92 862 — 6 — — 156 317 919 082 Capital expenditure R'000 Sep-26 444 963 627 031 1 071 994 243 979 128 375 247 438 65 434 105 370 103 060 60 048 953 704 2 025 698 Sep-25 493 788 567 727 1 061 515 163 743 131 008 223 641 59 623 80 851 75 196 20 385 754 447 1 815 962 Cash operating costs R/kg Sep-26 1 786 688 845 586 1 073 533 1 017 707 1 692 803 1 379 987 1 674 258 1 803 101 1 651 059 1 517 367 1 460 272 1 279 871 Sep-25 1 054 449 775 569 874 975 1 106 195 1 136 109 1 236 391 1 384 298 1 687 051 1 116 279 1 468 397 1 241 976 1 063 869 Cash operating costs R/tonne Sep-26 10 306 9 764 9 975 4 967 7 707 4 374 5 349 6 048 9 075 5 946 5 970 7 083 Sep-25 7 646 8 178 7 941 4 568 6 986 4 049 4 819 5 876 8 810 4 912 5 519 6 284 Cash operating cost and Capital R/kg Sep-26 2 297 552 1 075 689 1 371 641 1 256 902 1 940 154 1 748 198 1 855 515 2 050 448 1 792 044 1 673 742 1 692 147 1 542 641 Sep-25 1 383 422 985 062 1 127 057 1 303 476 1 312 195 1 560 039 1 542 870 1 883 769 1 189 569 1 520 936 1 410 908 1 273 153 All-in sustaining cost R/kg Sep-26 1 872 057 929 707 1 154 437 1 136 623 1 929 925 1 605 502 1 855 691 1 972 301 1 818 855 1 694 756 1 637 999 1 407 634 Sep-25 1 115 635 891 329 969 958 1 291 699 1 316 848 1 481 974 1 603 067 1 962 385 1 217 684 1 544 711 1 410 613 1 193 363 Operating results – Year on year (Rand/Metric) HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 12


 

Three months ended SOUTH AFRICA Hidden Valley TOTAL HARMONY GOLD ASSETS SURFACE PRODUCTION TOTAL SOUTH AFRICA Mine Waste Solutions Phoenix Central Plant Reclamation Savuka Tailings Dumps Kalgold TOTAL SURFACE Ore milled/tailings processed t'000 Sep-26 7 109 1 665 947 915 783 376 11 795 13 188 770 13 958 Sep-25 6 787 1 268 988 977 761 397 11 178 12 647 918 13 565 Yield g/tonne Sep-26 0.113 0.127 0.166 0.150 0.291 0.73 0.15 0.72 1.49 0.76 Sep-25 0.117 0.169 0.177 0.153 0.363 0.87 0.17 0.84 1.63 0.89 Gold produced kg Sep-26 800 211 157 137 228 275 1 808 9 517 1 144 10 661 Sep-25 793 214 175 149 276 345 1 952 10 629 1 499 12 128 Gold sold kg Sep-26 775 212 156 130 244 273 1 790 9 351 1 154 10 505 Sep-25 738 217 169 139 285 378 1 926 10 374 1 553 11 927 Gold price received R/kg Sep-26 2 132 339 2 225 420 2 132 013 2 126 708 2 143 086 2 129 249 2 143 920 2 131 077 2 062 901 2 123 588 Sep-25 1 798 079 1 966 742 1 820 101 1 793 727 1 840 319 1 827 167 1 830 659 1 818 254 1 820 220 1 818 510 Gold revenue R'000 Sep-26 1 652 563 471 789 332 594 276 472 522 913 581 285 3 837 616 19 927 700 2 380 588 22 308 288 Sep-25 1 326 982 426 783 307 597 249 328 524 491 690 669 3 525 850 18 862 564 2 826 801 21 689 365 Cash operating cost (net of by-product credits) R'000 Sep-26 745 329 190 810 111 999 114 136 351 490 349 442 1 863 206 11 729 730 351 426 12 081 156 Sep-25 677 539 154 595 101 819 115 615 323 937 328 376 1 701 881 10 933 068 327 043 11 260 111 Inventory movement R'000 Sep-26 (27 816) (811) (2 215) (7 449) — (6 202) (44 493) (311 262) (46 441) (357 703) Sep-25 (62 283) 653 (4 174) (8 336) 2 417 33 792 (37 931) (487 202) 146 035 (341 167) Operating costs R'000 Sep-26 717 513 189 999 109 784 106 687 351 490 343 240 1 818 713 11 418 468 304 985 11 723 453 Sep-25 615 256 155 248 97 645 107 279 326 354 362 168 1 663 950 10 445 866 473 078 10 918 944 Production profit/(loss) R'000 Sep-26 935 050 281 790 222 810 169 785 171 423 238 045 2 018 903 8 509 232 2 075 603 10 584 835 Sep-25 711 726 271 535 209 952 142 049 198 137 328 501 1 861 900 8 416 698 2 353 723 10 770 421 Sustaining capital expenditure R'000 Sep-26 25 302 2 597 — 3 017 8 830 48 020 87 766 1 113 869 631 640 1 745 509 Sep-25 6 857 35 255 15 810 17 269 426 137 308 212 925 1 109 805 518 841 1 628 646 Major capital expenditure (incl. renewables) R'000 Sep-26 22 303 — 8 785 6 840 — — 37 928 1 037 523 — 1 037 523 Sep-25 213 891 — — — — — 213 891 1 132 973 111 522 1 244 495 Capital expenditure R'000 Sep-26 47 605 2 597 8 785 9 857 8 830 48 020 125 694 2 151 392 631 640 2 783 032 Sep-25 220 748 35 255 15 810 17 269 426 137 308 426 816 2 242 778 630 363 2 873 141 Cash operating costs R/kg Sep-26 931 661 904 313 713 369 833 109 1 541 623 1 270 698 1 030 534 1 232 503 307 191 1 133 210 Sep-25 854 400 722 407 581 823 775 940 1 173 685 951 814 871 865 1 028 607 218 174 928 439 Cash operating costs R/tonne Sep-26 105 115 118 125 449 929 158 889 456 866 Sep-25 100 122 103 118 426 827 152 864 356 830 Cash operating cost and Capital R/kg Sep-26 991 168 916 621 769 325 905 058 1 580 351 1 445 316 1 100 055 1 458 561 859 323 1 394 258 Sep-25 1 132 770 887 150 672 166 891 839 1 175 228 1 349 809 1 090 521 1 239 613 638 696 1 165 341 All-in sustaining cost R/kg Sep-26 973 374 909 757 705 173 852 800 1 476 721 1 477 598 1 079 223 1 344 968 936 298 1 300 073 Sep-25 895 229 882 497 672 651 896 029 1 146 596 1 358 917 1 002 522 1 157 482 773 566 1 107 486 Operating results – Year on year (Rand/Metric) continued HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 13


 

Three months ended SOUTH AFRICA UNDERGROUND PRODUCTION Moab Khotsong Mponeng High-grade operations Tshepong North Tshepong South Doornkop Joel Target 1 Kusasalethu Masimong Optimised operations TOTAL UNDER- GROUND Ore milled/tailings processed t'000 Sep-26 167 260 427 230 126 234 125 140 147 108 1 110 1 537 Jun-26 203 240 443 205 118 245 105 110 141 109 1 033 1 476 Yield oz/ton Sep-26 0.168 0.337 0.271 0.143 0.132 0.092 0.093 0.098 0.160 0.114 0.119 0.161 Jun-26 0.180 0.328 0.260 0.169 0.156 0.096 0.107 0.082 0.165 0.121 0.129 0.168 Gold produced oz Sep-26 28 003 87 611 115 614 32 794 16 686 21 605 11 606 13 696 23 502 12 346 132 235 247 849 Jun-26 36 459 78 801 115 260 34 562 18 390 23 406 11 188 8 970 23 245 13 150 132 911 248 171 Gold sold oz Sep-26 27 617 88 189 115 806 31 090 15 818 21 123 10 996 12 925 23 663 11 671 127 286 243 092 Jun-26 43 436 79 959 123 395 36 652 19 515 22 956 11 864 8 906 23 566 13 953 137 412 260 807 Gold price received $/oz Sep-26 4 074 4 070 4 071 4 061 4 057 4 064 4 055 4 049 4 068 4 065 4 061 4 066 Jun-26 4 265 4 176 4 207 4 163 4 155 4 142 4 151 4 131 4 176 4 148 4 156 4 180 Gold revenue $'000 Sep-26 112 502 358 916 471 418 126 249 64 171 85 849 44 592 52 327 96 253 47 440 516 881 988 299 Jun-26 185 250 333 921 519 171 152 579 81 086 95 093 49 247 36 788 98 409 57 882 571 084 1 090 255 Cash operating cost (net of by-product credits) $'000 Sep-26 95 586 141 531 237 117 63 760 53 964 56 960 37 124 47 180 74 133 35 789 368 910 606 027 Jun-26 96 721 130 527 227 248 61 237 52 319 54 314 33 801 43 262 68 832 36 892 350 657 577 905 Inventory movement $'000 Sep-26 (497) 2 604 2 107 (5 800) (2 765) (1 912) (2 291) (4 731) 1 146 (2 140) (18 493) (16 386) Jun-26 8 316 1 164 9 480 5 403 2 485 (1 182) 769 (241) 2 326 1 189 10 749 20 229 Operating costs $'000 Sep-26 95 089 144 135 239 224 57 960 51 199 55 048 34 833 42 449 75 279 33 649 350 417 589 641 Jun-26 105 037 131 691 236 728 66 640 54 804 53 132 34 570 43 021 71 158 38 081 361 406 598 134 Production profit/(loss) $'000 Sep-26 17 413 214 781 232 194 68 289 12 972 30 801 9 759 9 878 20 974 13 791 166 464 398 658 Jun-26 80 213 202 230 282 443 85 939 26 282 41 961 14 677 (6 233) 27 251 19 801 209 678 492 121 Sustaining capital expenditure $'000 Sep-26 4 585 12 198 16 783 9 252 7 011 9 684 4 018 6 473 6 119 3 688 46 245 63 028 Jun-26 10 287 14 146 24 433 14 184 9 714 12 177 7 024 8 509 7 415 1 699 60 722 85 155 Major capital expenditure (incl. renewables) $'000 Sep-26 22 746 26 317 49 063 5 734 875 5 515 — — 211 — 12 335 61 398 Jun-26 26 434 19 278 45 712 2 940 2 384 8 893 — (18) — — 14 199 59 911 Capital expenditure $'000 Sep-26 27 331 38 515 65 846 14 986 7 886 15 199 4 018 6 473 6 330 3 688 58 580 124 426 Jun-26 36 721 33 424 70 145 17 124 12 098 21 070 7 024 8 491 7 415 1 699 74 921 145 066 Cash operating costs $/oz Sep-26 3 413 1 615 2 051 1 944 3 234 2 636 3 199 3 445 3 154 2 899 2 790 2 445 Jun-26 2 653 1 656 1 972 1 772 2 845 2 321 3 021 4 823 2 961 2 805 2 638 2 329 Cash operating costs $/t Sep-26 572 544 555 277 428 243 297 337 504 331 332 394 Jun-26 476 544 513 299 443 222 322 393 488 338 339 392 Cash operating cost and Capital $/oz Sep-26 4 389 2 055 2 620 2 401 3 707 3 340 3 545 3 917 3 424 3 198 3 233 2 947 Jun-26 3 660 2 081 2 580 2 267 3 503 3 221 3 649 5 770 3 280 2 935 3 202 2 913 All-in sustaining cost $/oz Sep-26 3 577 1 776 2 206 2 171 3 687 3 067 3 545 3 768 3 475 3 238 3 129 2 689 Jun-26 2 743 1 902 2 198 2 266 3 501 2 963 3 632 5 897 3 461 2 646 3 155 2 702 Operating results – Quarter on quarter (US$/Imperial) HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 14


 

Operating results – Quarter on quarter (US$/Imperial) continued Three months ended SOUTH AFRICA Hidden Valley TOTAL HARMONY GOLD ASSETS SURFACE PRODUCTION TOTAL SOUTH AFRICA Mine Waste Solutions Phoenix Central Plant Reclamation Savuka Tailings Dumps Kalgold TOTAL SURFACE Ore milled/tailings processed t'000 Sep-26 7 839 1 836 1 044 1 009 863 415 13 006 14 543 849 15 392 Jun-26 7 175 1 621 1 016 1 062 785 396 12 055 13 531 1 105 14 636 Yield oz/ton Sep-26 0.003 0.004 0.005 0.004 0.008 0.021 0.004 0.021 0.043 0.022 Jun-26 0.003 0.004 0.005 0.004 0.009 0.015 0.004 0.022 0.049 0.024 Gold produced oz Sep-26 25 721 6 784 5 048 4 405 7 330 8 841 58 129 305 978 36 780 342 758 Jun-26 23 341 6 559 5 305 4 598 7 395 5 916 53 114 301 285 54 656 355 941 Gold sold oz Sep-26 24 917 6 816 5 016 4 180 7 845 8 777 57 551 300 643 37 102 337 745 Jun-26 24 017 7 009 5 208 4 726 7 555 6 173 54 688 315 495 53 917 369 412 Gold price received $/oz Sep-26 4 074 4 252 4 073 4 063 4 094 4 068 4 096 4 071 3 941 4 057 Jun-26 4 185 4 489 4 150 4 151 4 183 4 219 4 221 4 187 4 083 4 172 Gold revenue $'000 Sep-26 101 505 28 979 20 429 16 982 32 119 35 704 235 718 1 224 017 146 222 1 370 239 Jun-26 100 503 31 466 21 612 19 616 31 604 26 041 230 842 1 321 097 220 157 1 541 254 Cash operating cost (net of by-product credits) $'000 Sep-26 45 780 11 720 6 879 7 011 21 589 21 464 114 443 720 470 21 585 742 055 Jun-26 39 550 10 913 4 690 6 163 20 325 16 080 97 721 675 626 19 192 694 818 Inventory movement $'000 Sep-26 (1 709) (50) (136) (458) — (381) (2 734) (19 120) (2 853) (21 973) Jun-26 1 325 713 (138) 176 — 492 2 568 22 797 (1 987) 20 810 Operating costs $'000 Sep-26 44 071 11 670 6 743 6 553 21 589 21 083 111 709 701 350 18 732 720 082 Jun-26 40 875 11 626 4 552 6 339 20 325 16 572 100 289 698 423 17 205 715 628 Production profit/(loss) $'000 Sep-26 57 434 17 309 13 686 10 429 10 530 14 621 124 009 522 667 127 490 650 157 Jun-26 59 628 19 840 17 060 13 277 11 279 9 469 130 553 622 674 202 952 825 626 Sustaining capital expenditure $'000 Sep-26 1 554 159 — 185 542 2 949 5 389 68 417 38 797 107 214 Jun-26 3 906 1 778 137 2 156 927 7 140 16 044 101 199 31 730 132 929 Major capital expenditure (incl. renewables) $'000 Sep-26 1 370 — 540 420 — — 2 330 63 728 — 63 728 Jun-26 2 490 — 1 146 205 — — 3 841 63 752 5 623 69 375 Capital expenditure $'000 Sep-26 2 924 159 540 605 542 2 949 7 719 132 145 38 797 170 942 Jun-26 6 396 1 778 1 283 2 361 927 7 140 19 885 164 951 37 353 202 304 Cash operating costs $/oz Sep-26 1 780 1 728 1 363 1 592 2 945 2 428 1 969 2 355 587 2 165 Jun-26 1 694 1 664 884 1 340 2 748 2 718 1 840 2 242 351 1 952 Cash operating costs $/t Sep-26 6 6 7 7 25 52 9 50 25 48 Jun-26 6 7 5 6 26 41 8 50 17 47 Cash operating cost and Capital $/oz Sep-26 1 894 1 751 1 470 1 729 3 019 2 761 2 102 2 787 1 642 2 664 Jun-26 1 968 1 935 1 126 1 854 2 874 3 925 2 214 2 790 1 035 2 520 All-in sustaining cost $/oz Sep-26 1 860 1 738 1 347 1 629 2 821 2 823 2 062 2 570 1 789 2 484 Jun-26 1 954 1 915 903 1 797 2 813 4 086 2 195 2 614 1 010 2 380 HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 15


 

Three months ended SOUTH AFRICA UNDERGROUND PRODUCTION Moab Khotsong Mponeng High-grade operations Tshepong North Tshepong South Doornkop Joel Target 1 Kusasalethu Masimong Optimised operations TOTAL UNDER- GROUND Ore milled/tailings processed t'000 Sep-26 167 260 427 230 126 234 125 140 147 108 1 110 1 537 Sep-25 228 283 511 222 133 233 119 130 143 128 1 108 1 619 Yield oz/ton Sep-26 0.168 0.337 0.271 0.143 0.132 0.092 0.093 0.098 0.160 0.114 0.119 0.161 Sep-25 0.212 0.308 0.265 0.120 0.180 0.095 0.102 0.102 0.231 0.097 0.130 0.172 Gold produced oz Sep-26 28 003 87 611 115 614 32 794 16 686 21 605 11 606 13 696 23 502 12 346 132 235 247 849 Sep-25 48 258 87 128 135 386 26 685 23 920 22 216 12 089 13 214 32 987 12 474 143 585 278 971 Gold sold oz Sep-26 27 617 88 189 115 806 31 090 15 818 21 123 10 996 12 925 23 663 11 671 127 286 243 092 Sep-25 46 940 86 968 133 908 25 656 22 988 21 284 11 639 11 221 32 922 11 992 137 702 271 610 Gold price received $/oz Sep-26 4 074 4 070 4 071 4 061 4 057 4 064 4 055 4 049 4 068 4 065 4 061 4 066 Sep-25 3 188 3 214 3 205 3 205 3 192 3 204 3 202 3 170 3 214 3 206 3 202 3 203 Gold revenue $'000 Sep-26 112 502 358 916 471 418 126 249 64 171 85 849 44 592 52 327 96 253 47 440 516 881 988 299 Sep-25 149 660 279 491 429 151 82 229 73 388 68 204 37 272 35 567 105 799 38 449 440 908 870 059 Cash operating cost (net of by-product credits) $'000 Sep-26 95 586 141 531 237 117 63 760 53 964 56 960 37 124 47 180 74 133 35 789 368 910 606 027 Sep-25 89 789 119 236 209 025 52 087 47 952 48 467 29 528 39 335 64 973 32 321 314 663 523 688 Inventory movement $'000 Sep-26 (497) 2 604 2 107 (5 800) (2 765) (1 912) (2 291) (4 731) 1 146 (2 140) (18 493) (16 386) Sep-25 (6 186) (729) (6 915) (3 596) (2 271) (2 132) (1 250) (6 552) (945) (1 824) (18 570) (25 485) Operating costs $'000 Sep-26 95 089 144 135 239 224 57 960 51 199 55 048 34 833 42 449 75 279 33 649 350 417 589 641 Sep-25 83 603 118 507 202 110 48 491 45 681 46 335 28 278 32 783 64 028 30 497 296 093 498 203 Production profit/(loss) $'000 Sep-26 17 413 214 781 232 194 68 289 12 972 30 801 9 759 9 878 20 974 13 791 166 464 398 658 Sep-25 66 057 160 984 227 041 33 738 27 707 21 869 8 994 2 784 41 771 7 952 144 815 371 856 Sustaining capital expenditure $'000 Sep-26 4 585 12 198 16 783 9 252 7 011 9 684 4 018 6 473 6 119 3 688 46 245 63 028 Sep-25 4 844 12 103 16 947 7 781 5 340 7 419 3 382 4 587 4 266 1 157 33 932 50 879 Major capital expenditure (incl. renewables) $'000 Sep-26 22 746 26 317 49 063 5 734 875 5 515 — — 211 — 12 335 61 398 Sep-25 23 168 20 104 43 272 1 508 2 092 5 268 — — — — 8 868 52 140 Capital expenditure $'000 Sep-26 27 331 38 515 65 846 14 986 7 886 15 199 4 018 6 473 6 330 3 688 58 580 124 426 Sep-25 28 012 32 207 60 219 9 289 7 432 12 687 3 382 4 587 4 266 1 157 42 800 103 019 Cash operating costs $/oz Sep-26 3 413 1 615 2 051 1 944 3 234 2 636 3 199 3 445 3 154 2 899 2 790 2 445 Sep-25 1 861 1 369 1 544 1 952 2 005 2 182 2 443 2 977 1 970 2 591 2 191 1 877 Cash operating costs $/t Sep-26 572 544 555 277 428 243 297 337 504 331 332 394 Sep-25 394 421 409 235 361 208 248 303 454 253 284 323 Cash operating cost and Capital $/oz Sep-26 4 389 2 055 2 620 2 401 3 707 3 340 3 545 3 917 3 424 3 198 3 233 2 947 Sep-25 2 441 1 738 1 989 2 300 2 315 2 753 2 722 3 324 2 099 2 684 2 490 2 246 All-in sustaining cost $/oz Sep-26 3 577 1 776 2 206 2 171 3 687 3 067 3 545 3 768 3 475 3 238 3 129 2 689 Sep-25 1 969 1 573 2 198 2 279 2 324 2 615 2 829 3 463 2 149 2 726 3 155 2 106 Operating results – Year on year (US$/Imperial) HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 16


 

Operating results – Year on year (US$/Imperial) continued Three months ended SOUTH AFRICA Hidden Valley TOTAL HARMONY GOLD ASSETS SURFACE PRODUCTION TOTAL SOUTH AFRICA Mine Waste Solutions Phoenix Central Plant Reclamation Savuka Tailings Dumps Kalgold TOTAL SURFACE Ore milled/tailings processed t'000 Sep-26 7 839 1 836 1 044 1 009 863 415 13 006 14 543 849 15 392 Sep-25 7 484 1 398 1 089 1 077 839 438 12 325 13 944 1 012 14 956 Yield oz/ton Sep-26 0.003 0.004 0.005 0.004 0.008 0.021 0.004 0.021 0.043 0.022 Sep-25 0.003 0.005 0.005 0.004 0.011 0.025 0.005 0.025 0.048 0.026 Gold produced oz Sep-26 25 721 6 784 5 048 4 405 7 330 8 841 58 129 305 978 36 780 342 758 Sep-25 25 496 6 880 5 626 4 790 8 874 11 092 62 758 341 729 48 194 389 923 Gold sold oz Sep-26 24 917 6 816 5 016 4 180 7 845 8 777 57 551 300 643 37 102 337 745 Sep-25 23 727 6 977 5 433 4 469 9 163 12 153 61 922 333 532 49 930 383 462 Gold price received $/oz Sep-26 4 074 4 252 4 073 4 063 4 094 4 068 4 096 4 071 3 941 4 057 Sep-25 3 173 3 470 3 212 3 165 3 247 3 224 3 230 3 208 3 212 3 209 Gold revenue $'000 Sep-26 101 505 28 979 20 429 16 982 32 119 35 704 235 718 1 224 017 146 222 1 370 239 Sep-25 75 280 24 212 17 450 14 145 29 755 39 182 200 024 1 070 083 160 366 1 230 449 Cash operating cost (net of by-product credits) $'000 Sep-26 45 780 11 720 6 879 7 011 21 589 21 464 114 443 720 470 21 585 742 055 Sep-25 38 437 8 770 5 776 6 559 18 377 18 629 96 548 620 236 18 554 638 790 Inventory movement $'000 Sep-26 (1 709) (50) (136) (458) — (381) (2 734) (19 120) (2 853) (21 973) Sep-25 (3 533) 37 (237) (473) 137 1 917 (2 152) (27 637) 8 285 (19 352) Operating costs $'000 Sep-26 44 071 11 670 6 743 6 553 21 589 21 083 111 709 701 350 18 732 720 082 Sep-25 34 904 8 807 5 539 6 086 18 514 20 546 94 396 592 599 26 839 619 438 Production profit/(loss) $'000 Sep-26 57 434 17 309 13 686 10 429 10 530 14 621 124 009 522 667 127 490 650 157 Sep-25 40 376 15 405 11 911 8 059 11 241 18 636 105 628 477 484 133 527 611 011 Sustaining capital expenditure $'000 Sep-26 1 554 159 — 185 542 2 949 5 389 68 417 38 797 107 214 Sep-25 389 2 000 896 980 24 7 790 12 079 62 958 29 434 92 392 Major capital expenditure (incl. renewables) $'000 Sep-26 1 370 — 540 420 — — 2 330 63 728 — 63 728 Sep-25 12 134 — — — — — 12 134 64 274 6 327 70 601 Capital expenditure $'000 Sep-26 2 924 159 540 605 542 2 949 7 719 132 145 38 797 170 942 Sep-25 12 523 2 000 896 980 24 7 790 24 213 127 232 35 761 162 993 Cash operating costs $/oz Sep-26 1 780 1 728 1 363 1 592 2 945 2 428 1 969 2 355 587 2 165 Sep-25 1 508 1 275 1 027 1 369 2 071 1 679 1 538 1 815 385 1 638 Cash operating costs $/t Sep-26 6 6 7 7 25 52 9 50 25 48 Sep-25 5 6 5 6 22 43 8 44 18 43 Cash operating cost and Capital $/oz Sep-26 1 894 1 751 1 470 1 729 3 019 2 761 2 102 2 787 1 642 2 664 Sep-25 1 999 1 565 1 186 1 574 2 074 2 382 1 924 2 187 1 127 2 056 All-in sustaining cost $/oz Sep-26 1 860 1 738 1 347 1 629 2 821 2 823 2 062 2 570 1 789 2 484 Sep-25 1 580 1 557 1 187 1 581 2 023 2 398 1 769 2 042 1 365 1 954 HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 17


 

Quarter ended AUSTRALIA Quarter ended AUSTRALIA Rand/Metric US$/Imperial CSA Mine CSA Mine Ore milled t'000 Sep-26 225 Ore milled t'000 Sep-26 248 Jun-26 210 Jun-26 232 Yield % Sep-26 3.15 Yield % Sep-26 3.15 Jun-26 4.10 Jun-26 4.10 Copper produced t Sep-26 7 077 Copper produced lb'000 Sep-26 15 602 Jun-26 8 611 Jun-26 18 984 Copper sold t Sep-26 5 238 Copper sold lb'000 Sep-26 11 548 Jun-26 7 531 Jun-26 16 603 Copper price received1 US$/t Sep-26 14 188 Copper price received1 US$/lb Sep-26 6.44 Jun-26 13 366 Jun-26 6.06 Copper revenue R'000 Sep-26 1 280 312 Copper revenue US$'000 Sep-26 78 640 Jun-26 1 658 215 Jun-26 100 656 Cash operating cost (net of by-product credits) R'000 Sep-26 717 883 Cash operating cost (net of by-product credits) US$'000 Sep-26 44 094 Jun-26 721 689 Jun-26 43 808 Inventory movement R'000 Sep-26 (139 991) Inventory movement US$'000 Sep-26 (8 599) Jun-26 (48 711) Jun-26 (2 957) Production cost (net of by-product credits) R'000 Sep-26 577 892 Production cost (net of by-product credits) US$'000 Sep-26 35 495 Jun-26 672 978 Jun-26 40 851 Production profit R'000 Sep-26 702 420 Production profit/(loss) US$'000 Sep-26 43 145 Jun-26 985 237 Jun-26 59 805 Sustaining capital expenditure R'000 Sep-26 238 405 Sustaining capital expenditure US$'000 Sep-26 14 643 Jun-26 399 202 Jun-26 24 232 Major capital expenditure R'000 Sep-26 — Major capital expenditure (incl. renewables) US$'000 Sep-26 — Jun-26 — Jun-26 — Capital expenditure R'000 Sep-26 238 405 Capital expenditure US$'000 Sep-26 14 643 Jun-26 399 202 Jun-26 24 232 Cash operating costs R/tonne Sep-26 3 191 Cash operating costs US$/tonne Sep-26 178 Jun-26 3 437 Jun-26 189 Cash operating cost and Capital US$/t Sep-26 8 300 Cash operating cost and Capital US$/lb Sep-26 3.76 Jun-26 7 902 Jun-26 3.58 C1 cost US$/t Sep-26 5 995 C1 cost US$/lb Sep-26 2.72 Jun-26 5 317 Jun-26 2.41 1 Excludes adjustments related to copper provisional pricing (Sep-26: R70.360m, US$4.321m) Operating results: Copper assets – Quarter on quarter HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026 18


 

Harmony Gold Mining Company Limited Harmony Gold Mining Company Limited was incorporated and registered as a public company in South Africa on 25 August 1950 Registration number: 1950/038232/06 Corporate office Randfontein Office Park PO Box 2, Randfontein, 1760, South Africa Corner Main Reef Road and Ward Avenue Randfontein, 1759, South Africa Telephone: +27 11 411 2000 Website: www.harmony.co.za Directors Dr PT Motsepe* (chairman) KT Nondumo*^ (deputy chairman) FJ Lombard*^ (lead independent director) BB Nel (chief executive officer) BP Lekubo (financial director) Dr HE Mashego (executive director) M Gule*^ Z Matlala*^ M Moshe*^ Dr  M Msimang*^ B Nqwababa*^ VP Pillay*^ MJ Prinsloo*^ GR Sibiya*^ PL Turner*^ J Boardman*^ A Pretorius*^ * Non-executive ^ Independent Company secretary SS Mohatla E-mail queries: companysecretariat@harmony.co.za Telephone: +27 11 411 2359 Directorate and administration Investor relations E-mail: HarmonyIR@harmony.co.za Telephone: +27 11 411 6073 or +27 82 746 4120 Transfer secretaries JSE Investor Services (Proprietary) Limited (Registration number 2000/007239/07) 19 Ameshoff Street, 13th Floor, Hollard House, Braamfontein, Johannesburg, South Africa PO Box 4844, Johannesburg, 2000, South Africa E-mail: info@jseinvestorservices.co.za Telephone: +27 86 154 6572 Fax: +27 86 674 4381 American Depositary Receipts (ADRs) Deutsche Bank Trust Company Americas c/o Equiniti Trust Company LLC, Peck Slip Station PO Box 2050, New York NY10271-2050 Email: db@astfinancial.com Toll free (within US): (886) 249 2593 Int: +1 718 921 8137 Fax: +1 718 921 8334 Sponsor J.P. Morgan Equities South Africa Proprietary Limited 1 Fricker Road, corner Hurlingham Road, Illovo, Johannesburg, 2196, South Africa Private Bag X9936, Sandton, 2146, South Africa Telephone: +27 11 507 0300 Fax: +27 11 507 0503 Trading symbols ISIN: ZAE000015228 Harmony's annual reports Harmony’s Integrated Report, and its report suite filed on a Form 20F with the United States’ Securities and Exchange Commission for the financial year ended 30 June 2026, are available on our website (www.harmony.co.za/invest). This booklet 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 booklet, are necessarily estimates reflecting the best judgment 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 our Integrated Annual Report. All statements other than statements of historical facts included in this booklet may be forward-looking statements. 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 geopolitical risks; 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, and the ability to successfully integrate, past and future acquisitions, as well as at existing operations; our ability to complete ongoing and future acquisitions; 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; 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; 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; and the risk that additional errors or adjustments are identified. The foregoing factors and others described under “Risk Factors” in our Integrated Annual Report (www.har.co.za) and our Annual Report on 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 booklet 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. Any forward-looking statements contained in these financial results have not been reviewed or reported on by Harmony's external auditors. Competent Person’s statement The Mineral Resource and Mineral Reserve figures published in this booklet are updated as at 30 June 2026. Harmony confirms that it is not aware of any new information or data that materially affects the information included in the statement, in the case of Mineral Resources or Mineral Reserves, that all material assumptions and technical parameters underpinning the estimates in the original release continue to apply and have not materially changed. Harmony confirms that the form and context in which the competent person’s findings are presented have not been materially modified from the original release. Exploration results are presented in summary form and should not be construed as Mineral Resources or Mineral Reserves, nor relied upon as an estimate of economic mineralisation. Forward-looking statements 19HARMONY GOLD MINING COMPANY LIMITED Operational update for the three months ended 30 September 2026


 

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Harmony Gold Mining Company Limited Date: November 9, 2026 By: /s/ Boipelo Lekubo Name: Boipelo Lekubo Title: Financial Director


 

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