HARMONY GOLD MINING COMPANY LIMITED - Major Step Towards Quality Portfolio Growth: MAC Coppers Shareholders Support Acquisition by Harmony

Major Step Towards Quality Portfolio Growth: MAC Copper’s Shareholders Support Acquisition by Harmony

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

MAJOR STEP TOWARDS QUALITY PORTFOLIO GROWTH: MAC COPPER'S SHAREHOLDERS
SUPPORT ACQUISITION BY HARMONY

Johannesburg. Monday, 1 September 2025: Harmony Gold Mining Company
Limited ("Harmony" or the "Company") is pleased to announce that MAC
Copper Limited ("MAC Copper") has received the requisite majority of
votes from its shareholders in favour of the proposed sale of 100% of
its issued share capital to Harmony Gold (Australia) Pty Ltd by way
of a Jersey law scheme of arrangement pursuant to Article 125 of the
Companies (Jersey) Law 1991 (as amended) ("Scheme"). MAC Copper is the
owner of the high-grade CSA Copper mine (CSA) in Cobar, New South
Wales, Australia.

This is further to the approvals obtained from The South African
Reserve Bank (SARB) on 5 August 2025 and the Australian Foreign
Investment Review Board on 19 August 2025.

A detailed report of the votes cast at the Court Meeting and the
General Meeting can be obtained from the announcement given by MAC,
available on their website at www.maccopper.com.

"This acquisition accelerates Harmony's strategy of adding to our
portfolio of high-margin, long-life ore bodies. MAC Copper serves as
a strategic lever, moving us towards a more resilient, geographically
diverse asset portfolio, with copper enhancing cash flow resilience.
With our proven expertise in underground mining and exploration, we
will unlock further value from CSA," said Beyers Nel, CEO of Harmony.

Our rationale for acquiring MAC Copper includes:

•   Immediately cash flow positive: The CSA Copper mine is a high-
    grade, long-life asset that will contribute positive cash flow from
    day one.

•   High-grade, low-cost operation: CSA has a quality orebody and its
    position on the industry cost curve will further enhance margins.

•   Quality, long-life production growth addition to Harmony's
    portfolio: CSA adds approximately 40 000 tonnes per annum in high-
    quality copper to the Harmony portfolio.

•   Affordability and capital discipline: The transaction will be
    funded through a mix of cash, debt facilities or debt instruments.
    This will leverage Harmony's strong balance sheet and maintain
    financial flexibility, without compromising shareholder returns.
•   Commodity and geographical diversification and resilience:
    Copper provides a natural hedge against gold price volatility,
    strengthening Harmony's exposure to future-facing metals within
    a Tier 1 mining jurisdiction, and supports global decarbonisation
    and energy transition trends.

The Scheme remains subject to the satisfaction of the remaining
conditions as outlined in the Scheme Circular. Specifically, it is
conditional upon:

•   Fulfilment or waiver of certain specified conditions precedent to
    the Streams Restructure Deed;
•   Sanctioning of the Scheme by the Court at the Court Sanction
    Hearing, scheduled from 9 October 2025; and
•   Satisfaction of other customary conditions detailed in the Scheme
    Circular.

Post the finalisation of the remaining conditions, we anticipate that
Harmony will take control of the asset towards the end of October
2025.

Capitalised terms used in this announcement have the meaning given to
them in the Scheme Circular, a copy of which is attached to MAC Copper's
announcement released on 31 July 2025.    A copy of the Scheme Circular is
available for viewing on MAC's website at www.maccopperlimited.com.

Please refer to the SENS announcement released on 27 May 2025 for the full
details of the transaction. This is available on our website at:
www.harmony.co.za.

A corresponding announcement has also been published by MAC Copper and is
available on their website at www.maccopperlimited.com.

Further updates will be provided in due course.

For more details, contact:

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

Johannesburg
1 September 2025

JSE Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd

Ends.

Date: 01-09-2025 07:30:00
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