Johannesburg - Harmony Gold Mining Company Limited ('Harmony' or 'the Company') is pleased to announce its financial and operating results for the year ended 30 June 2020 ('FY20').

FY20 key features

9% increase in production profit to R7.197 billion (FY19: R6.588 billion)

3% decrease in average underground recovered grade at 5.45g/t (FY19: 5.59)

9% increase in revenue to R29.2 billion (FY19: R26.9 billion)

The company achieved a better than expected production performance in Q4 of FY20 despite Covid-19 challenges

25% increase in average gold price received at R735 569/kg(FY19: R586 653/kg)

67% improvement in loss per share to 164 SA cents (71% improvement to 10 US cents)(FY19: loss of 498 SA cents (35 US cents))

175% decrease in headline loss per share to 154 SA cents(171% decrease to 10 US cents)(FY19: earnings of 204 SA cents (14 US cents))

No ordinary cash dividend declared for the year ended 30 June 2020 (nil for the year ended 30 June 2019)

'Harmony continues to make good progress in executing its strategy of producing safe, profitable ounces and increasing margins. Our drive for safe ounces was never more applicable than in the last quarter of the financial year as we faced the challenge of managing and mitigating the risks presented by the COVID-19 pandemic. Despite the impact of the South African lockdown and phased re-start of mining in the country, we are pleased to report higher than anticipated production and substantial delivery against our strategy in the last quarter of the year' Peter Steenkamp, chief executive officer of Harmony said.

He added that 'Harmony is well-positioned to benefit from the anticipated continuing strength of the gold price. The newly acquired assets will help grow production and, as conditions improve, Harmony has other Tier 1 projects such as Wafi-Golpu and a pipeline of organic projects in South Africa to incorporate into its portfolio.'

FY21 group production and cost guidance

In the next financial year, we plan to produce between 1.25Moz and 1.3Moz at an all-in sustaining unit cost of between R690 000/kg and R710 000/kg. Underground recovered grade is planned to be between 5.53g/t and 5.58g/t. Guidance will be updated once Mponeng and Mine Waste Solutions have been integrated into Harmony's asset portfolio.

Short form announcement

This short-form announcement is the responsibility of the board of directors of the Company ('Board').

Shareholders are advised that this short-form announcement represents a summary of the information contained in the full announcement (results booklet) and does not contain full or complete details published on the Stock Exchange News Service ('SENS'), via the JSE link and on Harmony's website (www.harmony.co.za) on 15 September 2020.

The financial results as contained in the condensed consolidated financial statements for the year ended 30 June 2020 have been reviewed by PricewaterhouseCoopers Inc., who expressed an unmodified review conclusion thereon.

Any investment decisions by investors and/or shareholders should be based on a consideration of the full announcement as a whole and shareholders are encouraged to review the full announcement (results booklet), which is available for viewing on the Company's website referred to above and via the JSE link.

The full announcement (results booklet) is also available for inspection at the registered office of the Company, Randfontein Office Park, Randfontein, 1760, Corner Main Reef Road/Ward Avenue, Randfontein and at the offices of the sponsors, JP Morgan. Inspection of the full announcement is available to investors and/or shareholders at no charge, during normal business hours from today, 15 September 2020, until 22 September 2020.

Contact:

Max Manoeli

Tel: +27(0)82 759 1775

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