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HARMONY’S FULL YEAR GUIDANCE ON TRACK; HIGHER GOLD PRICE BOOSTS CASH FLOWS
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(Harmony and/or the Company)
HARMONY'S FULL YEAR GUIDANCE ON TRACK; HIGHER GOLD PRICE BOOSTS CASH
FLOWS
Johannesburg, Tuesday, 3 February 2026. Harmony Gold Mining Company
Limited ("Harmony") is pleased to announce that it expects a solid
financial performance for the six-month period ended 31 December 2025
(H1FY26), supported by elevated gold prices and continued strong free-
cash-flow generation.
Operational performance in the second quarter of the financial year
2026, was impacted by mill motor failure and a deferment of the final
gold shipment to January 2026, at Hidden Valley.
Although underground average mining grades were in line with
expectations, recovered grades were adversely affected by lower
metallurgical recoveries and the impact of an industry-wide cyanide
shortage in South Africa.
These temporary factors are being addressed. We still expect to meet
our full-year production guidance of between 1 400 000 and
1 500 000oz, at an all-in-sustaining cost (AISC) of between
R1 150 000/kg to R1 220 000/kg and underground recovered grade at
above 5.8g/t. As previously indicated, guidance for the newly acquired
CSA mine - Harmony's copper operation in New South Wales, Australia,
will be provided with the release of our interim results.
Integration activities at the high-grade CSA copper mine are
progressing well, with initial activities focusing on integrating the
mine into Harmony's systems, processes and culture. At the Eva Copper
Project, the Engineering, Procurement and Construction (EPC)
contractor has been appointed and is expected to mobilise to site
during the March 2026 quarter.
The Company's fundamentals remain robust, underpinned by improved
safety performance, a healthy balance sheet, investment in higher-
quality orebodies, and sustained margin improvement across the
portfolio.
Harmony continues to advance its review of the balance sheet to ensure
an optimal capital structure that supports funding for our long-term
growth projects and sustains robust cash flow generation. This work
is aimed at enhancing financial flexibility while preserving our
commitment to delivering consistent, competitive shareholder returns.
Comprehensive operational and financial details will be provided when
our interim results are released.
Investing in African Mining Indaba
The Harmony executive leadership team is participating in the
Investing in African Mining Indaba, to be held at the Cape Town
International Convention Centre from 9 to 12 February 2026.
Our Chief Executive Officer, Beyers Nel, will participate in a
fireside chat on Monday, 9 February 2026, at 15:20, while Financial
Director, Boipelo Lekubo, will take part in a panel discussion on
Wednesday, 11 February 2026, at 11:40.
Harmony's participation reflects the Company's ongoing engagement with
global investors and industry stakeholders.
Interim operating and financial results for the 6 months ended
31 December 2025
The Company will publish its interim operating and financial results
for the 2026 financial year, on Wednesday, 11 March 2026, at 07:05,
South African time (SAST). An in-person presentation will be delivered
by the CEO at 10:00 SAST at the JSE Limited in Sandton, South Africa.
This timing ensures the CSA mine is fully integrated into the Group's
operational and financial results.
Please refer to the Harmony website for registration and further
details: www.harmony.co.za.
The information contained in this guidance release has not been
reviewed or reported on by the Company's external auditors.
Jared Coetzer
Head of Investor Relations
+27 (0) 82 746 4120
Johannesburg, South Africa
3 February 2026
JSE Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd
Date: 03-02-2026 12:00:00
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