UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a16 OR 15d16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For May 12, 2022

Harmony Gold Mining Company Limited

Randfontein Office Park
Corner Main Reef Road and Ward Avenue Randfontein, 1759
South Africa
(Address of principal executive offices)
*-
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20 F or Form 40F.)

Form 20F ☒ Form 40F ☐

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing
the information to the Commission pursuant to Rule 12g32(b) under the Securities Exchange Act of 1934.)

Yes ☐ No ☒





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

OPERATIONAL UPDATE
for the nine months ended 31 March 2022 (“Q3 FY22”)
RETREATMENT OPERATIONS SHINE; LONG-TERM OBJECTIVES AND FULL YEAR GUIDANCE STILL ON TRACK DESPITE A TOUGH THIRD QUARTER
Johannesburg, South Africa. Thursday, 12 May 2022. Harmony Gold Mining Company Limited (“Harmony” or “the Company”) is pleased to report its operational performance for the nine months ended 31 March 2022.
Over the past few quarters, there has been a renewed wave of uncertainty, specifically for gold, as inflation seems to be returning after an almost 30-year hiatus. This uncertainty has been compounded by concerns of low economic growth, the increasing risk of conflict and further supply chain disruptions.
Despite our stringent controls and leaner operating model, we are not immune to the effects of rising costs. Cost increases are now a worldwide concern and it is imperative we continue to scrutinise our costs while adapting to what seems to be a period of higher inflation with protracted supply chain disruptions.
Encouragingly, Harmony has made significant progress in resolving and adapting to the various disruptions which impacted production across its operations in South Africa and Papua New Guinea during the course of this financial year.
Amidst the global uncertainty, we remain focused on our long term goals and objectives. Uncertainty creates both risks and opportunities but we continue investing in our people and in quality assets to improve our structural profitability. We remain committed to creating shared value through the effective and disciplined allocation of capital in order to take advantage of these opportunities. Our strategy is to produce safe, profitable ounces and improve margins through operational excellence and value-accretive acquisitions. By delivering on our four strategic pillars, the balance between meeting our short-term goals and achieving our longer-term objectives will be maintained as we continue “Mining with Purpose”.
Nine months of the financial year 2022 (“FY22”) – Key operational metrics*#
UnitY-on-Y
%		Nine
months
 FY22		Nine
months
 FY21		Comments
Gold revenueRm2 %30 66930 166
Higher gold price received and higher production from South African operations
Gold price
R/kg
1 %877 249 868 964 
Higher US$ gold price amidst global geopolitical uncertainty and inflation concerns contributed to a higher Rand gold price received
Gold produced totalkg-2%34 35734 969
Overall production was impacted in the third quarter as a result of the Hidden Valley overland conveyor belt failure, adverse ground conditions at Moab Khotsong, and safety-related stoppages at Mponeng and Bambanani as a result of seismicity. Continuous load-shedding and water outages in the Free State have negatively impacted the square meters mined
oz-2%1 104 5981 124 274
Gold production – South Africakg2 %32 05131 4709-months production from Mponeng and Mine Waste Solutions in this reporting period compared to 6-months in the comparable period
Gold production – Hidden Valleykg-34%2 3063 499
Lost production as a result of the failure of the overland conveyor belt
Underground total tonnes milledt’0003 %4 7624 618Improvement from Tshepong Operations, Moab Khotsong, Joel and Doornkop alongside a full 9-months production from Mponeng
Underground yieldg/t-3%5.395.54
Adverse ground conditions at Moab Khotsong alongside the seismicity at Mponeng and Bambanani. We are mining out Bambanani and this mine will be closed at the end of June 2022
On-going development capitalRm21 %2 0741 717
Normalisation of capital expenditure post Covid-19. Tshepong Operations, Mponeng and Doornkop primary drivers of the increase


Major capitalRm67 %787470
Planned capital expenditure at Tshepong sub-75 decline, the Zaaiplaats project and Great Noligwa pillar project at Moab Khotsong, Mponeng Carbon Leader project and West complex pump station project
All-in sustaining cost (“AISC”)R/kg15 %825 925720 572
Normalisation of capital expenditure post-Covid-19, lower Q3 FY22 production at Hidden Valley, Bambanani, Tshepong Operations, Target 1, Moab Khotsong and Mponeng
US$/oz20 %1 7031 416
Average exchange rate
US$/Rand
-5%15.0915.82
Rand strengthened against the US$ year on year
Adjusted EBITDA**
Rm
-19%7 613 9 439 
Lower production and higher AISC
*    The financial information has not been reviewed by the Company’s external auditors
**    The Company reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) and non-recurring events. For the reporting period, the non-recurring events include the gain on bargain purchase and acquisition-related costs. Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under IFRS and should be considered in addition to and not as a substitute for other measures of financial performance and liquidity
#    Quarter-on-quarter operational tables are available on our website: www.harmony.co.za



Health and safety
The Company continues to prioritise the safety of its employees. Through passionate leadership, resilient management systems, effective risk management and organisational learning, Harmony is developing an engaged and interdependent workforce who display a proactive relationship to safety.
January and February 2022 already served as testimony that we are on the correct trajectory, with zero loss of life incidents recorded during these two months. Several notable milestones and achievements were recorded during the third quarter of FY22. The lost-time injury rate was maintained below 6 for the second consecutive quarter at 5.99 per million shifts.
It is therefore with deep regret that Harmony reports that one employee, Mr. Makoae Cosmas Makhang, a tramming team leader at Doornkop, lost his life in a work-related incident on 11 March 2022. The Company sends its heartfelt condolences to the family and loved ones of our colleague who tragically passed away.
We are still in the process of investigating the multiple loss of life which occurred during routine engineering infrastructure-related work at our Kusasalethu mine, near Carletonville, which we announced on 9 May 2022. While the timing of the incident happened outside of this reporting period, we pay our respect to those who lost their lives. It is our priority to support the families of the deceased as well as everyone impacted by this tragedy and ensure it never happens again. The names of those who passed away will be released once all family members have been informed.
Harmony applies a holistic approach to the health of its employees. This approach includes initiatives aimed at preventing the spread of Covid-19, mitigating the impact thereof, curbing occupational diseases and improving the overall wellness of its employees. The Covid-19 response and vaccination teams have invested significant time in the management of Covid-19 at our operations. Currently, all employees are eligible to be vaccinated at the vaccination sites established at our operations with 85% of our employees having received a second vaccination.
Please see the Company’s website for more information on its safety and health initiatives and the incidents reported during the quarter, as well as the Harmony Risk Management guide.
Operational performance to date
The South African operations delivered a 2% increase in production to 32 051kg (1 030 459oz) for the nine months ended 31 March 2022 from 31 470kg (1 011 778oz) for the nine-month period ended
31 March 2021 (“the comparable period”). Much of this increase was attributable to the additional three months’ production from Mponeng and related assets in this nine-month period compared to only six months’ production in the comparable period.
Gold production during quarter three of financial year 2022 has been particularly challenging with electricity and water supply constraints persisting at our South African operations. With safety as our top priority, we delayed accessing certain higher-grade areas at Moab Khotsong to ensure that these areas were structurally well-supported before mining activities continued and stopped mining in areas impacted by seismicity at Mponeng and Bambanani. We are mining out Bambanani and this operation will be closed at the end of June 2022.
Overall production quarter on quarter was down 11% to 10 131kg (325 719oz) in Q3 FY22 from 11 358kg (365 165oz) in Q2 FY22. Group cash operating unit cost increased by 14% quarter-on-quarter to R767 292/kg from R672 745/kg (an increase of 16% to US$1 569/oz from US$1 356/oz) – primarily as a result of Hidden Valley. We expect Hidden Valley to return to normalised levels of production in the fourth quarter of FY22.
For the nine months to date, total cash operating costs for the group increased by 14% to R23 952 million from R20 978 million (an increase of 20% to US$1 588 million from US$1 326 million) against the comparable period. Most of the increase is attributable to the acquisition of Mponeng and related assets in financial year 2021 (“FY21”). Excluding Unisel (which was closed in FY21), and Mponeng and related assets, group cash operating costs increased by only 8% to R19 574 million from R18 092 million (an increase of 13% to US$1 297 million from US$1 143 million).
For the nine months to date, cash operating unit cost for the group increased by 16% to R697 146/kg from R599 910/kg (an increase of 22% to US$1 437/oz from US$1 179/oz) against the comparable period. The unit cost increase was higher than the total cash cost increase due to the abovementioned production challenges.
Annual production, cost and grade guidance
With one quarter’s production remaining for FY22, we are confident that we will achieve our previously revised annual guidance (announced in February 2022) of:
•1 480 000 to 1 560 000oz in total production
•overall AISC guidance of R805 000/kg to R835 000/kg and
•underground grade guidance at 5.40 to 5.57g/t
AISC
Harmony’s overall AISC for the reporting period increased by 15% to R825 925/kg from R720 572/kg (an increase of 20% to US$1 703/oz from US$1 416/oz). This remains within guidance. The primary reason for the increase was the reduced production as a result of the overland conveyor belt failure at Hidden Valley.
South African operations’ AISC increased by 10% to R797 014/kg from R726 100/kg (an increase of 15% to US$1 643/oz from US$1 427/oz).
At Hidden Valley, we anticipate a significant improvement in AISC as production returns to normalised levels.
Hedging
The Company’s hedging strategy is proving to be successful as its approach to hedge more selectively supports stronger margins and cash flows. The average forward Rand gold price on the hedge book is at R1 037 000/kg on a net position of 413 000oz at the end of the third quarter. Harmony will only hedge when it is certain that it can achieve a minimum margin of 25% above AISC and inflation.
Balance sheet and liquidity
Net debt has reduced substantially over the nine months, with a R350 million (US$24 million) decrease to R603 million (US$41 million) at 31 March 2022 from R953 million (US$65 million) at 31 March 2021. Quarter on quarter, net debt remained stable at R603 million (US$41 million) compared to R612 million (US$38 million) at 31 December 2021.
Adjusted EBITDA at 31 March 2022 decreased 19% to R7 613 million (US$521 million) compared to R9 439 million (US$639 million) at 31 March 2021.
The Company’s balance sheet remains strong with net debt to EBITDA stable at 0.1 times.
On 25 February 2022, an interim dividend of 40 SA cents (2.7 US cents) per share was declared and paid on 11 April 2022 in line with our policy of paying 20% of net free cash generated to shareholders.





Papua New Guinea
Discussions with the government of Papua New Guinea are ongoing as it relates to permitting and delivering the much-anticipated Wafi-Golpu project. At Hidden Valley, production has normalised and the Hidden Valley mine life extension project continues as planned.
ESG in action
Harmony remains an example of well-embedded Environment, Social and Governance (ESG) practices in action. This is encapsulated in the words “Mining with Purpose”. More information can be found in our Task Force on Climate-related Financial Disclosures and ESG reports at www.har.co.za


OPERATING RESULTS – NINE MONTHS ON NINE MONTHS (RAND/METRIC)
Nine
months
ended		SOUTH AFRICA
UNDERGROUND PRODUCTION
Tshepong operationsMoab
Khotsong		MponengBambananiJoelDoornkopTarget 1KusasalethuMasimongUniselTotal Underground
Ore milled– t'000Mar-221 167701615139315657345458365—4 762
Mar-211 123656442167257624371538383574 618
Yield– g/tonneMar-224.486.947.328.033.364.064.137.463.85—5.39
Mar-214.778.367.838.843.984.273.385.753.974.335.54
Gold produced– kgMar-225 2264 8684 5021 1161 0572 6681 4243 4151 407—25 683
Mar-215 3585 4863 4591 4771 0222 6631 2553 0951 52024725 582
Gold sold– kgMar-225 2634 8664 5151 1251 0642 7301 4213 4761 416—25 876
Mar-215 2625 4613 2501 4531 0052 6301 2743 0691 49424225 140
Gold price received– R/kgMar-22885 165885 941917 957877 664884 992879 473890 521885 622889 311—890 681
Mar-21862 411868 317920 517873 290867 458874 219890 027870 183826 924925 979874 123
Gold revenue1
(R'000)Mar-224 658 6264 310 9894 144 574987 372941 6312 400 9621 265 4313 078 4211 259 265—23 047 271
Mar-214 538 0054 741 8802 991 6801 268 890871 7952 299 1951 133 8942 670 5931 235 425224 08721 975 444
Cash operating cost
(net of by-product credits)		(R'000)Mar-223 771 5003 098 9083 279 364891 578957 2031 829 0061 336 8762 300 0491 119 348—18 583 832
Mar-213 646 1242 864 4471 891 369866 356838 6011 601 3281 234 9732 232 8421 074 876178 15416 429 070
Inventory movement(R'000)Mar-2222 581(68 962)37 1409 9183 22129 239(5 821)14 389715—42 420
Mar-21(74 187)8 0753 675(15 032)(12 864)(20 782)6 782(15 366)(22 126)3 679(138 146)
Operating costs(R'000)Mar-223 794 0813 029 9463 316 504901 496960 4241 858 2451 331 0552 314 4381 120 063—18 626 252
Mar-213 571 9372 872 5221 895 044851 324825 7371 580 5461 241 7552 217 4761 052 750181 83316 290 924
Production profit(R'000)Mar-22864 5451 281 043828 07085 876(18 793)542 717(65 624)763 983139 202—4 421 019
Mar-21966 0681 869 3581 096 636417 56646 058718 649(107 861)453 117182 67542 2545 684 520
Capital expenditure(R'000)Mar-221 090 513592 872428 02625 444145 839328 257275 462148 23936 609—3 071 261
Mar-21769 822457 707343 84448 812128 354316 598274 479147 21217 005—2 503 833
Cash operating costs– R/kgMar-22721 680636 588728 424798 905905 585685 534938 817673 514795 557—723 585
Mar-21680 501522 138546 796586 565820 549601 325984 042721 435707 155721 271642 212
Cash operating costs– R/tonneMar-223 2324 4215 3326 4143 0392 7843 8755 0223 067—3 903
Mar-213 2474 3674 2795 1883 2632 5663 3294 1502 8063 1263 558
Cash operating cost
and capital		– R/kgMar-22930 351758 377823 498821 7041 043 559808 5691 132 260716 922821 576—843 168
Mar-21824 178605 569646 202619 613946 140720 2131 202 751769 000718 343721 271740 087
All-in sustaining cost– R/kgMar-22906 720718 295847 203842 6841 048 263777 0901 124 321726 124850 225—834 860
Mar-21828 079604 840701 250638 621966 315682 8721 164 805788 756745 626782 126749 497
Operating free cash flow margin2
%Mar-22(4)%14 %11 %7 %(17)%10 %(27)%20 %8 %— %6 %
Mar-213 %30 %25 %28 %(11)%17 %(33)%11 %12 %20 %14 %


¹ Includes a non-cash consideration to Franco-Nevada (Mar-22: R370.984m, Mar-21: R231.013m), excluded from the gold price calculation
² Excludes run-of-mine costs for Kalgold (Mar-22: R1.224m, Mar-21:- R2.703m) and Hidden Valley (Mar-22: R293.954m, Mar-21: -R16.974m)


OPERATING RESULTS – NINE MONTHS ON NINE MONTHS (RAND/METRIC)
Nine
months
ended		SOUTH AFRICAHidden
Valley		TOTAL
HARMONY
SURFACE PRODUCTIONTOTAL
SOUTH
AFRICA
Mine Waste SolutionsPhoenixCentral plant reclamationDumpsKalgoldTotal Surface
Ore milled– t'000Mar-2217 9244 6623 0206 7761 08433 46638 2282 28540 513
Mar-2111 2114 6463 0127 1931 12127 18331 8012 75034 551
Yield– g/tonneMar-220.1280.1220.1410.3260.800.190.841.010.85
Mar-210.1220.1260.1410.3730.740.220.991.271.01
Gold produced– kgMar-222 2995674272 2098666 36832 0512 30634 357
Mar-211 3725874242 6818245 88831 4703 49934 969
Gold sold– kgMar-222 2775614182 2748736 40332 2792 25834 537
Mar-211 3405804262 6238275 79630 9363 51334 449
Gold price received– R/kgMar-22748 486883 768890 847895 073882 457839 958880 620829 066877 249
Mar-21747 663806 409869 277887 894878 695844 639868 599872 186868 964
Gold revenue1
(R'000)Mar-222 075 286495 794372 3742 035 397770 3855 749 23628 796 5071 872 03130 668 538
Mar-211 232 882467 717370 3122 328 947726 6815 126 53927 101 9833 063 98830 165 971
Cash operating cost
(net of by-product credits)		(R'000)Mar-221 193 631328 102215 0041 452 705659 5503 848 99222 432 8241 519 02123 951 845
Mar-21679 806294 182205 0961 501 537577 6603 258 28119 687 3511 290 90720 978 258
Inventory movement(R'000)Mar-22(18 057)(4 834)(3 510)29 7962653 66046 080(47 997)(1 917)
Mar-2190 468(5 413)41515 342865101 677(36 469)(10 398)(46 867)
Operating costs(R'000)Mar-221 175 574323 268211 4941 482 501659 8153 852 65222 478 9041 471 02423 949 928
Mar-21770 274288 769205 5111 516 879578 5253 359 95819 650 8821 280 50920 931 391
Production profit(R'000)Mar-22899 712172 526160 880552 896110 5701 896 5846 317 603401 0076 718 610
Mar-21462 608178 948164 801812 068148 1561 766 5817 451 1011 783 4799 234 580
Capital expenditure(R'000)Mar-22124 16513 14012 51922 872118 960291 6563 362 9171 103 8854 466 802
Mar-2149 5801 16310 59130 463144 501236 2982 740 131899 4633 639 594
Cash operating costs– R/kgMar-22519 196578 663503 522657 630761 605604 427699 910658 725697 146
Mar-21495 485501 162483 717560 066701 044553 377625 591368 936599 910
Cash operating costs– R/tonneMar-22677071214608115587665591
Mar-21616368209515120619469607
Cash operating cost
and capital		– R/kgMar-22573 204601 838532 841667 984898 972650 227804 8341 137 427827 157
Mar-21531 622503 143508 696571 429876 409593 509712 662625 999703 991
All-in sustaining cost– R/kgMar-22557 865600 758540 332661 570910 825645 432797 0141 239 065825 925
Mar-21622 149500 945507 282589 913894 631625 868726 100671 901720 572
Operating free cash flow margin2
%Mar-2219 %31 %39 %28 %(1 %)22 %9 %(24 %)7 %
Mar-2122 %37 %42 %34 %0 %27 %16 %28 %18 %


¹ Includes a non-cash consideration to Franco-Nevada (Mar-22: R370.984m, Mar-21: R231.013m), excluded from the gold price calculation
² Excludes run-of-mine costs for Kalgold (Mar-22: R1.224m, Mar-21:- R2.703m) and Hidden Valley (Mar-22: R293.954m, Mar-21: -R16.974m)


OPERATING RESULTS – NINE MONTHS ON NINE MONTHS (US$/IMPERIAL)
Nine
months
ended		SOUTH AFRICA
UNDERGROUND PRODUCTION
Tshepong operationsMoab
Khotsong		MponengBambananiJoelDoornkopTarget 1KusasalethuMasimongUniselTotal Underground
Ore milled- t'000Mar-221 287774678153347724380505403—5 251
Mar-211 238723487184284688408593423635 091
Yield- oz/tonMar-220.1310.2020.2130.2350.0980.1180.1200.2170.112—0.157
Mar-210.1390.2440.2280.2580.1160.1240.0990.1680.1160.1260.162
Gold produced- ozMar-22168 020156 510144 74235 88033 98385 77745 783109 79545 235—825 725
Mar-21172 263176 378111 20947 48632 85885 61740 34899 50648 8697 941822 475
Gold sold- ozMar-22169 209156 445145 16036 17034 20887 77145 687111 75745 525—831 932
Mar-21169 177175 575104 49046 71532 31184 55640 96098 67048 0337 780808 267
Gold price received- $/ozMar-221 8251 8271 8931 8091 8251 8131 8361 8261 833—1 836
Mar-211 6951 7071 8091 7171 7051 7181 7491 7101 6251 8201 718
Gold revenue1
($'000)Mar-22308 792285 750274 71965 44762 415159 14583 878204 05083 469—1 527 665
Mar-21286 784299 668189 06280 18955 094145 30071 658168 77178 07414 1611 388 761
Cash operating cost
(net of by-product credits)		($'000)Mar-22249 990205 408217 36959 09763 447121 23488 613152 45674 195—1 231 809
Mar-21230 420181 021119 52754 75052 996101 19778 045141 10767 92811 2591 038 250
Inventory movement($'000)Mar-221 497(4 571)2 4626572141 938(386)95447—2 812
Mar-21(4 688)510232(950)(813)(1 313)429(971)(1 398)232(8 730)
Operating costs($'000)Mar-22251 487200 837219 83159 75463 661123 17288 227153 41074 242—1 234 621
Mar-21225 732181 531119 75953 80052 18399 88478 474140 13666 53011 4911 029 520
Production profit($'000)Mar-2257 30584 91354 8885 693(1 246)35 973(4 349)50 6409 227—293 044
Mar-2161 052118 13769 30326 3892 91145 416(6 816)28 63511 5442 670359 241
Capital expenditure($'000)Mar-2272 28439 29828 3711 6879 66721 75818 2599 8262 427—203 577
Mar-2148 65028 92521 7303 0858 11120 00817 3469 3031 075—158 233
Cash operating costs- $/ozMar-221 4881 3121 5021 6471 8671 4131 9361 3891 640—1 492
Mar-211 3381 0261 0751 1531 6131 1821 9341 4181 3901 4181 262
Cash operating costs- $/tMar-22194265321386183167233302184—235
Mar-21186250245298187147191238161179204
Cash operating cost
and capital		- $/ozMar-221 9181 5641 6981 6942 1511 6672 3341 4781 694—1 738
Mar-211 6201 1901 2701 2181 8601 4162 3641 5121 4121 4181 455
All-in sustaining cost- $/ozMar-221 8691 4811 7471 7372 1611 6022 3181 4971 753—1 721
Mar-211 6281 1891 3781 2551 8991 3422 2901 5501 4661 5371 473
Operating free cash flow margin2
%Mar-22(4 %)14 %11 %7 %(17 %)10 %(27 %)20 %8 %0 %6 %
Mar-213 %30 %25 %28 %(11 %)17 %(33 %)11 %12 %20 %14 %
¹ Includes a non-cash consideration to Franco-Nevada (Mar-22: US$24.590m, Mar-21: US$14.599m), excluded from the gold price calculation
² Excludes run-of-mine costs for Kalgold (Mar-22: US$0.081m, Mar-21:- US$0.168m) and Hidden Valley (Mar-22: US$19.484m, Mar-21: -US$0.574m)


OPERATING RESULTS – NINE MONTHS ON NINE MONTHS (US$/IMPERIAL)
Nine
months
ended
SOUTH AFRICA
Hidden
Valley		TOTAL
HARMONY
SURFACE PRODUCTIONTOTAL
SOUTH
AFRICA
Mine Waste SolutionsPhoenixCentral plant reclamationDumpsKalgoldTotal Surface
Ore milled- t'000Mar-2219 7655 1403 3307 4721 19536 90242 1532 52044 673
Mar-2112 3625 1243 3227 9321 23629 97635 0673 03338 100
Yield- oz/tonMar-220.0040.0040.0040.0100.0230.0060.0240.0290.025
Mar-210.0040.0040.0040.0110.0210.0060.0290.0370.030
Gold produced- ozMar-2273 91518 22913 72871 02027 842204 7341 030 45974 1391 104 598
Mar-2144 11018 87313 63286 19626 492189 3031 011 778112 4961 124 274
Gold sold- ozMar-2273 20818 03613 43973 11028 068205 8611 037 79372 5961 110 389
Mar-2143 08218 64813 69684 33126 589186 346994 613112 9451 107 558
Gold price received- $/ozMar-221 5431 8221 8371 8451 8191 7321 8161 7091 809
Mar-211 4701 5851 7091 7451 7271 6601 7071 7141 708
Gold revenue1
($'000)Mar-22137 55832 86324 682134 91451 064381 0811 908 746124 0862 032 832
Mar-2177 91329 55823 402147 18045 923323 9761 712 737193 6321 906 369
Cash operating cost
(net of by-product credits)		($'000)Mar-2279 11921 74814 25196 29143 718255 1271 486 936100 6871 587 623
Mar-2142 96118 59112 96194 89136 506205 9101 244 16081 5801 325 740
Inventory movement($'000)Mar-22(1 197)(320)(233)1 975182433 055(3 181)(126)
Mar-215 717(342)26970556 426(2 304)(657)(2 961)
Operating costs($'000)Mar-2277 92221 42814 01898 26643 736255 3701 489 99197 5061 587 497
Mar-2148 67818 24912 98795 86136 561212 3361 241 85680 9231 322 779
Production profit($'000)Mar-2259 63611 43510 66436 6487 328125 711418 75526 580445 335
Mar-2129 23511 30910 41551 3199 362111 640470 881112 709583 590
Capital expenditure($'000)Mar-228 2308718301 5167 88519 332222 90973 170296 079
Mar-213 133736691 9259 13214 932173 16556 842230 007
Cash operating costs- $/ozMar-221 0701 1931 0381 3561 5701 2461 4431 3581 437
Mar-219749859511 1011 3781 0881 2307251 179
Cash operating costs- $/tMar-2244413377354036
Mar-2134412307352735
Cash operating cost
and capital		- $/ozMar-221 1821 2411 0991 3771 8531 3411 6592 3451 705
Mar-211 0459891 0001 1231 7231 1671 4011 2301 384
All-in sustaining cost- $/ozMar-221 1501 2391 1141 3641 8781 3311 6432 5551 703
Mar-211 2239859971 1601 7581 2301 4271 3211 416
Operating free cash flow margin2
%Mar-2219 %31 %39 %28 %(1)%22 %9 %(24)%7 %
Mar-2122 %37 %42 %34 %— %27 %16 %28 %18 %


¹ Includes a non-cash consideration to Franco-Nevada (Mar-22: US$24.590m, Mar-21: US$14.599m), excluded from the gold price calculation
² Excludes run-of-mine costs for Kalgold (Mar-22: US$0.081m, Mar-21:- US$0.168m) and Hidden Valley (Mar-22: US$19.484m, Mar-21: -US$0.574m)


DIRECTORATE AND ADMINISTRATION
HARMONY GOLD MINING COMPANY LIMITED
Harmony Gold Mining Company Limited was incorporated and registered as a public company in South Africa on 25 August 1950
Registration number: 1950/038232/06
CORPORATE OFFICE
Randfontein Office Park
PO Box 2, Randfontein, 1760, South Africa
Corner Main Reef Road and Ward Avenue
Randfontein, 1759, South Africa
Telephone: +27 11 411 2000
Website: www.harmony.co.za
DIRECTORS
Dr PT Motsepe* (chairman), JM Motloba* (deputy chairman), Dr M Msimang*^ (lead independent director), PW Steenkamp (chief executive officer),
BP Lekubo (financial director),
HE Mashego (executive director)
JA Chissano*^#, KT Nondumo*^, VP Pillay*^, GR Sibiya*^, P Turner*^, JL Wetton*^, AJ Wilkens*
* Non-executive
^ Independent
# Mozambican
INVESTOR RELATIONS
E-mail: HarmonyIR@harmony.co.za
Telephone: +27 11 411 6073 or +27 82 746 4120
COMPANY SECRETARIAT
E-mail: companysecretariat@harmony.co.za
Telephone: +27 11 411 2359
TRANSFER SECRETARIES
JSE Investor Services (Proprietary) Limited
(Registration number 2000/007239/07)
19 Ameshoff Street, 13th Floor, Hollard House, Braamfontein
PO Box 4844, Johannesburg, 2000, South Africa
Telephone: +27 86 154 6572
E-mail: info@jseinvestorservices.co.za
Fax: +27 86 674 4381
ADR* DEPOSITARY
Deutsche Bank Trust Company Americas
c/o American Stock Transfer and Trust Company
Operations Centre, 6201 15th Avenue, Brooklyn,
NY 11219, United States
E-mail queries: db@astfinancial.com
Toll free (within the US): +1 886 249 2593
Int: +1 718 921 8137
Fax: +1 718 921 8334
*ADR: American Depositary Receipts
SPONSOR
JP Morgan Equities South Africa
(Proprietary) Limited
1 Fricker Road, corner Hurlingham Road, Illovo, Johannesburg, 2196
Private Bag X9936, Sandton, 2146
Telephone: +27 11 507 0300
Fax: +27 11 507 0503
TRADING SYMBOLS
ISIN: ZAE 000015228



HARMONY’S ANNUAL REPORTS
Harmony’s Integrated Annual Report, and its annual report filed on a Form 20F with the United States’ Securities and Exchange Commission for the financial year ended 30 June 2021, are available on our website (www.harmony.co.za/invest).


FORWARD-LOOKING STATEMENTS
This booklet contains forward-looking statements within the meaning of the safe harbour provided by Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), with respect to our financial condition, results of operations, business strategies, operating efficiencies, competitive positions, growth opportunities for existing services, plans and objectives of management, markets for stock and other matters. These forward-looking statements, including, among others, those relating to our future business prospects, revenues, and the potential benefit of acquisitions (including statements regarding growth and cost savings) wherever they may occur in this booklet, are necessarily estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in our integrated annual report. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation: overall economic and business conditions in South Africa, Papua New Guinea, Australia and elsewhere, impact of Covid-19 on our operational and financial estimates and results estimates of future earnings, and the sensitivity of earnings to the prices of gold and other metals prices estimates of future production and sales for gold and other metals, estimates of future cash costs, estimates of future cash flows, and the sensitivity of cash flows to the prices of gold and other metals, estimates of provision for silicosis settlement; estimates of future tax liabilities under the Carbon Tax Act, statements regarding future debt repayments, estimates of future capital expenditures, the success of our business strategy, exploration and development activities and other initiatives; future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings and financing plans; estimates of reserves statements regarding future exploration results and the replacement of reserves, the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, as well as at existing operation, fluctuations in the market price of gold, the occurrence of hazards associated with underground and surface gold mining, the occurrence of labour disruptions related to industrial action or health and safety incidents, power cost increases as well as power stoppages, fluctuations and usage constraints, supply chain shortages and increases in the prices of production imports and the availability, terms and deployment of capital; our ability to hire and retain senior management, sufficiently technically-skilled employees, as well as our ability to achieve sufficient representation of historically disadvantaged persons in management positions, our ability to comply with requirements that we operate in a sustainable manner and provide benefits to affected communities, potential liabilities related to occupational health diseases; changes in government regulation and the political environment, particularly tax and royalties, mining rights, health, safety, environmental regulation and business ownership including any interpretation thereof; court decisions affecting the mining industry, including, without limitation, regarding the interpretation of mining rights, our ability to protect our information technology and communication systems and the personal data we retain, risks related to the failure of internal controls, the outcome of pending or future litigation or regulatory proceedings; fluctuations in exchange rates and currency devaluations and other macroeconomic monetary policies; the adequacy of the Group’s insurance coverage; any further downgrade of South Africa’s credit rating and socio-economic or political instability in South Africa, Papua New Guinea and other countries in which we operate.
The foregoing factors and others described under “Risk Factors” in our Integrated Annual Report (www.har.co.za) and our Form 20F should not be construed as exhaustive. We undertake no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this annual report or to reflect the occurrence of unanticipated events, except as required by law. All subsequent written or oral forward-looking statements attributable to Harmony or any person acting on its behalf are qualified by the cautionary statements herein.


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Harmony Gold Mining Company Limited
Date: May 12, 2022
By: /s/ Boipelo Lekubo
Name: Boipelo Lekubo
Title: Financial Director







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