INTEGRATED ANNUAL REPORT - har.co.za

1 INTEGRATED . ANNUAL REPORT . Harmony Gold mining Company Limited (Harmony), a gold mining and exploration company with 68 years of experience, has operations in South Africa, one of the world's best known gold mining regions, and in Papua New Guinea, a premier new gold-copper region. At Harmony, we understand the impact that our company has on the lives of the people we employ, the communities that surround our mines and the environment, as well as of the economic contribution that we make to the countries in which we operate. KEY Hedging strategy Focus on safety remains a priority FEATURES continues to generate positive cash flow YEAR-ON-YEAR. Increase in Successful integration underground of Moab Khotsong recovered grade and excellent project for sixth year delivery at in a row Hidden Valley Production guidance met for third year in a row b Harmony Gold mining Company Limited INTEGRATED ANNUAL REPORT 2018. CON T ENTS 2. 3. 3. About this REPORT Our values Directors' responsibility WHO WE ARE, WHAT WE DO.

2 1. 4 Corporate profile 6 Creating value our business model 8 Sharing value 10 How we performed five-year review 12 Harmony timeline 14 Chairman's letter 16 Chief executive officer's review 18 Financial director's REPORT OPERATING. CONTEXT. Our strategy and investment case 22. Our business context 24. Managing our risks and opportunities 26. 2. Stakeholder engagement and our material issues 36. Social and ethics committee: chairman's REPORT 40. Sustainable development framework 42. LEADERSHIP AND PERFORMANCE. GOVERNANCE Ensuring employee safety and well-being . maintaining stability in our workforce 3. 4. 98 Corporate governance Safety and health 44. 110 Board of directors Employee engagement 54. 112 Executive management Delivering profitable ounces, 115 Audit and risk committee: chairman's REPORT in line with business objectives 118 Remuneration REPORT Operating performance 60. 134 Assurance REPORT Mineral resources and reserves summary 64. 136 Directors' REPORT Exploration and projects 72.

3 137 Company secretary's certificate Managing our social and environmental impacts Socio-economic development 76. Environmental management and stewardship 82. mining Charter compliance scorecard 96. ADMINISTRATIVE. INFORMATION. 5. 138 Shareholder information 141 Forward-looking statements 142 Directorate and administration OUR REPORTS ONLINE. Harmony's full set of 2018 reports and supporting documents are available at The electronic reports are interactive pdfs, with links to sections within the document and to external websites. The interactive links are indicated by text in red italics. Harmony Gold mining Company Limited INTEGRATED ANNUAL REPORT 2018 1. ABOUT THIS REPORT . Our INTEGRATED ANNUAL REPORT 2018 covers Harmony's This INTEGRATED REPORT has been compiled performance for the 2018 financial year (FY18), from in line with the International INTEGRATED 1 July 2017 to 30 June 2018. Certain comparative historical information is presented where relevant and Reporting Council's Framework, the Global to provide insight into our future plans.

4 Reporting Initiative (GRI) G4 guidelines In summary, our INTEGRATED ANNUAL REPORT 2018 encompasses and the King REPORT on Governance for the following elements: South Africa 2016 (King IV REPORT ). Everything we do in conducting our business, from risk assessment Review and reflect and decision making to reporting, is informed by our values and our An overview of our performance understanding of how various elements of the business fit together. We in terms of our strategic objectives Future plans and have applied this INTEGRATED approach to our reporting sharing insights and business model, and what we outlook have achieved into both our financial and non-financial performance. Certain key non- What we plan to do in the financial performance indicators presented in this REPORT were assured by future and how we intend to achieve this SNG Grant Thornton. Their Assurance REPORT is available on page 134. The mineral resource and reserve information presented was compiled in accordance with the South African Code for Reporting External factors and material issues of Exploration Results, Mineral Reserves and Mineral Resources; the Impact of external environment Australasian Code for Reporting of Mineral Resources and Mineral in which we operate and how we Reserves; the Industry Guide 7 of the United States' Securities and manage these variables Exchange Commission; and the JSE Listings Requirements.

5 This information was gathered, reviewed and confirmed by the relevant competent persons. Primary audience All stakeholders, but primarily shareholders All the reports making up our 2018 suite of reports, together with a Glossary of Terms, defining the terms used in these reports, are available online at Any additional information can be This REPORT covers all of Harmony's operations in South found on our website at Africa as well as its operating and exploration activities (joint venture and own) in Papua New Guinea. It details the material environmental, socio-economic and governance aspects of our operations, and of Harmony as a whole. FEEDBACK. We welcome your feedback on these reports. Should you have any comments or suggestions on this REPORT , contact our investor relations team at: OUR 2018 REPORTS INTEGRATED ANNUAL REPORT 2018. While this INTEGRATED REPORT describes Harmony's performance Financial REPORT 2018. in delivering on its strategy and creating value for FY18, Mineral Resources and Mineral Reserves 2018.

6 Additional information is presented in the other reports making up the set of 2018 reports: REPORT to Shareholders 2018. Form 20-F Global Reporting Initiative Scorecard Operations 2018. ANNUAL REPORT filed with the United States Securities An index of the indicators reported in terms of the Detailed information on each operation and Exchange Commission, in compliance with the Global Reporting Initiative listing requirements of the New York Stock Exchange The full set of the 2018 reports and accompanying supplementary documents are available online at REFERENCE. A full glossary of terms is available on the website, Moz refers to million ounces and Mt refers to million tonnes. Throughout this REPORT , $ or dollar refers to US dollar, unless otherwise stated. All production volumes are in metric tonnes (t), unless specifically stated as imperial tons. K refers to kina, the currency of Papua New Guinea. 2 Harmony Gold mining Company Limited INTEGRATED ANNUAL REPORT 2018.

7 OUR. At Harmony, we understand the significant impact our company has on the lives of employees, on VALUES. the communities that surround our mines, on the environment, and on the economic well-being of the countries in which we operate. The value we create is measured by the impact we have on the lives of stakeholders, now and in the future. To this end, our values inform our decisions and guide all that we do: LE. E NT. TED. AB. TY. SAFETY. Y. EM. NT. ET. EC. ES. F. SA OU IEV NN HO. N. AC C AC H CO. No matter the circumstances, safety is our main priority DIRECTORS'. RESPONSIBILITY. LE. E NT. TED. AB. TY. ACCOUNTABLE forHIEthe INTEGRATED ANNUAL REPORT 2018. Y. EM. NT. ET. EC. ES. F V N N. SA OU ON HO. AC C AC C. We are all accountable for delivering on our commitments Our board of directors has overall accountability for this INTEGRATED REPORT . Having reviewed the REPORT , the board, supported by the recommendations of the audit and risk committee and the social and ethics committee, confirmed LE.

8 That this REPORT presents a balanced and representative view E NT. TED. AB. TY. ACHIEVEMENTSAF. Y. of theN company and itsNperformance in the past financial year. EM. NT. ET. EC. ES. OU IEV N O. Achievement is core to our success AC C AC H TheCO. board approved Hthis REPORT on 25 October 2018. LE. E NT. Dr Patrice Motsepe Peter Steenkamp TED. AB. TY. CONNECTED. Y. EM. Chairman Chief executive officer NT. ET. EC. ES. F U V N N. SA C CO HIE ON HO. We are all connectedA as one team AC C. Frank Abbott Fikile De Buck Financial director Chairman: Audit and risk committee Dr Simo Lushaba Chairman: Social and ethics committee LE. E NT. TED. AB. TY. HONESTY. Y. EM. NT. ET. EC. ES. F. SA OU IEV NN HO. N. AC C A CH CO. We uphold honesty in all our business dealings and communicate openly with stakeholders Harmony Gold mining Company Limited INTEGRATED ANNUAL REPORT 2018 3. CORPORATE PROFILE. WHO WE ARE. Harmony, a gold mining and exploration company, conducts its activities in South Africa, one of the world's best-known gold mining regions, and in Papua New Guinea, one of the world's premier new gold-copper regions.

9 With 68 years of experience, Harmony is South Africa's second largest gold producer. Headquartered in Randfontein, South Africa, Harmony is listed on the Johannesburg Stock Exchange and on the New York Stock Exchange, on which its shares are quoted as American Depositary Receipts. At 30 June 2018, our market capitalisation was billion (US$769 million). (FY17: billion; US$728 million). WHERE WE OPERATE. In South Africa, our nine underground operations are located within the world- renowned Witwatersrand Basin one in the Klerksdorp goldfield, two in the West Rand and six in the Free State, in the southern portion of the Basin. In addition, we have an open-pit mine on the Kraaipan Greenstone Belt as well as several surface treatment operations. In Papua New Guinea, Hidden Valley is an open-pit gold and silver mine. Our significant gold-copper portfolio includes a 50% stake in the Wafi-Golpu project in the Morobe Province, through a 50:50 joint venture with Newcrest mining Limited (Newcrest).

10 OPERATING STATISTICS. Gold production Costs contained Underground recovered Mineral resources increased increased to grade improved by to All-in sustaining cost of 8% to at year-end (FY17: ) R508 970/kg and US$1 231/oz (FY17: ) (FY17: ). (FY17: R516 687/kg and US$1 182/oz). 13% increase year on year S ixth consecutive year of Inclusion of Moab Khotsong Exceeded guidance higher grade at South African U. nderground resources and reserves underground operations for South African operations increased by and respectively 4 Harmony Gold mining Company Limited INTEGRATED ANNUAL REPORT 2018. WHAT WE DO. Exploration and mining and processing Sales and financial Land rehabilitation and acquisition Establishing, developing and management mine closure Exploring for and evaluating operating mines and related Generating revenue through Restoring mining impacted land for economically viable orebodies processing infrastructure. Ore the sale of gold produced alternative economic use post- mining and/or value-accretive mined is milled and processed by and optimising efficiencies and having in place approved mine acquisitions our gold plants to produce gold to maximise financial returns closure plans d re bars SOUTH AFRICA PAPUA NEW GUINEA.