HARMONY GOLD MINING CO LTD

HARMONY APPROVES HIGH-MARGIN, LONG-LIFE EVA COPPER PROJECT

FOR DEVELOPMENT

Johannesburg, South Africa. Monday, 24 November 2025. Harmony Gold Mining Company Limited (“Harmony” or “the Company”) is pleased to announce the completion of the updated Feasibility Study and the approval of the Final Investment Decision (FID) by the Board of Directors for the Eva Copper Project (“Eva Copper” or “the Project”) in Queensland, Australia.

Eva Copper is a 100%-owned, high-margin, long-life asset located in Northwest Queensland. The proposed low strip ratio open pit development is expected to produce approximately 65 000 tonnes of copper in concentrate per year during the first five years, with an expected life-of-mine average production profile of around 60 000 tonnes of copper and 19 000 ounces of gold per annum. This will be achieved by processing on average 18 million tonnes per annum of ore over its currently estimated 15-year mine life, at a very attractive margin with an all-in sustaining cost (AISC) of approximately US$ 2.50/lb, delivering robust cash flow generation at strong margins over the life of this asset.

“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio. Over the past three years, we have received strong support from the Queensland Government and key stakeholders as we systematically de-risked this project, driving resource and reserve expansion at exceptionally low discovery costs and unlocking further upside potential.

Eva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles. In addition to our significant gold production, our two Australian copper assets are expected to deliver a combined total of approximately 100 000 tonnes of copper annually once fully commissioned.

The Project provides compelling exposure to robust copper fundamentals and, when combined with the current strength in gold prices, offers significant upside potential. We have confidence in the long-term outlook for copper and gold, and Eva Copper is poised to deliver strong free cash flows and attractive margins, while reducing our overall risk profile. Harmony’s diversification into a Tier 1 mining jurisdiction strengthens our long-term value proposition as a global gold and copper producer,” says Beyers Nel, Harmony CEO.