Annual Results for the year ended 31 December 2021

Creating economic value for all our stakeholders by delivering

MORE THAN MINING

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Our performance in 2021

What helped our performance?

Higher basket price
Increased production

What hindered our performance?

Covid-19 impact on our people and our operations
Eskom load curtailments
Section 54 stoppages
Delay of MF2 upgrade project negatively impacted by need for remedial civil works on the secondary mill base and ongoing manufacturing, construction and commissioning delays attributed to the impact of the Covid-19 pandemic

HUMAN CAPITAL Safety and people first

FATALITIES One (2020: one)
TOTAL INJURY FREQUENCY RATE 7.139 (2020: 5.663)
PRODUCTIVITY 39.9 t/TEC* for our total operations (2020: 36.3 t/TEC)

*	Tonnes milled per total employee costed

FINANCIAL CAPITAL Create economic value for all our stakeholders

	EBITDA R8 530.6 million (2020: R6 646.5 million)
	HEPS 2 324.6 cents (2020: 1 354.4 cents)
	FULL YEAR DIVIDEND 1 070 cents per share (2020: maiden dividend of 575 cents per share)

SOCIAL AND RELATIONSHIP CAPITAL Seek and deliver the good from mining

SOCIAL INVESTMENT (including social and labour plans) R169.2 million (2020: R92 million)
PROCUREMENT R4.8 billion in procurement from historically disadvantaged (HD) businesses (2020: R4.0 billion)

INTELLECTUAL CAPITAL

Mutual interests and mutual rewards

TECHNOLOGY

Significant progress made with digitisation and automation of Styldrift
Substantial improvement in measurement of labour force efficacy and operating processes using automated time management process
Supply chain process streamlined and further protected from fraud and corruption through E-tendering

MANUFACTURED CAPITAL We do what we say we will do

4E BUILT-UP HEAD GRADE 3.86g/t (2020: 3.93g/t)
UNIT COST R16 770 per 4E ounce (2020: R15 560 per 4E ounce)
PRODUCTION 467koz 4E ounces (2020: 419koz 4E ounces)

NATURAL CAPITAL Leave a lasting legacy of sustainable benefits

	GROUP CARBON INTENSITY OF 0.122 tCO₂e/tonne milled (2020: 0.113 tCO₂e/tonne milled)
	WATER EFFICIENCY 0.675kℓ/tonne milled (2020: 0.642kℓ/tonne milled)
	ENERGY EFFICIENCY 0.407GJ/tonne milled (2020: 0.408GJ/tonne milled)