Drdgold Ltd. · JSE:DRD
Drdgold — Corporate Update (July 2026)
28 slides from Drdgold's corporate update, Jul 15, 2026
Slide 1: Vision 2028 Capital Projects Update | From commitment to delivery
Vision 2028 Capital Projects Update | From commitment to delivery
Slide 2: Disclaimer
Disclaimer Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in genera
Slide 3: The decisions that set our course | 2023 running out of room
The decisions that set our course | 2023 running out of room DRDGOLD's strategy to optimise its ore reserves and mine as much of it as possible faced certain realities: Ergo's future head grades meant At Ergo: At FWGR: lower revenue per tonne, which Brakpan TSF was maturing and Phase 2 needed more p
Slide 4: Vision 2028
Vision 2028 We devised a plan to build the infrastructure capable of increasing throughput from 2.15Mtpm to 3Mtpm and lift production to 6 tonnes per year by 2028 and called it Vision 2028 • At Ergo, it meant: – creating 430 million tonnes of new tailings storage capacity, and – restoring monthly de
Slide 5: First things first | Ergo's cost structure
First things first | Ergo's cost structure Cheaper, cleaner, reliable power • Ergo is a high-volume producer, drawing approximately 35MW of electricity. No single lever mattered more to its cost structure than power. In 2023, before Vision 2028 had a name, we began building a solar plant and battery
Slide 6: The 5 Projects to deliver Vision 2028
The 5 Projects to deliver Vision 2028 R10 billion to secure scale, capacity and optionality 01 02 03 04 05 The The DP2 The pipeline The RTSF, The Withok TSF, Daggafontein expansion, project - DP2, FWGR ERGO TSF, ERGO FWGR RTSF and Libanon, FWGR Infrastructure and Doubling plant A 135km pipeline Worl
Slide 7: The purpose of today's update
The purpose of today's update Construction kicked off in FY2024 Today we provide an update on: How much we have spent, Where and how much How closely we are still needs to we are How far we be spent tracking the have to go goals we had set ourselves P7
Slide 8: At Far West Gold Recoveries | FWGR
At Far West Gold Recoveries | FWGR Vision 2028 is designed to take FWGR from its current throughput rate of 500 000 tonnes per month to 1.2Mtpm and adds 16 years to its life of mine The DP2 plant expansion The pipeline project The RTSF PP 88
Slide 9: The DP2 Plant Expansion
The DP2 Plant Expansion The DP2 expansion is essentially a duplication in capacity of the existing DP2 plant, increasing its throughput from 500 000 tons per month to 1.2Mtpm and adding both an elution circuit, and a smelt house to the plant PP 99
Slide 10: The pipeline project
The pipeline project The pipeline project is 135km slurry and return water lines between the DP2 plant, the RTSF and the Libanon dump, and the construction of a reclamation station at Libanon dump to add 600 000 tonnes per month in FWGR’s throughput profile, in addition to the current 600 000 tonnes
Slide 11: The RTSF
The RTSF The RTSF is an 800 hectare, fully-lined tailings storage facility, designed to receive an initial 1.2Mtpm. The size of infrastructure and area of the dam allow for this deposition rate to eventually be increased to 2.4Mtpm. It is designed to ultimately store up to 800 million tonnes of mine
Slide 12: At Ergo Mining | ERGO
At Ergo Mining | ERGO Vision 2028 envisages: • resuming deposition onto the Daggafontein TSF, adding 120 million tonnes of deposition capacity and structurally resetting Ergo's deposition regime by splitting its current 1.65Mtpm of tailings residue between: – Daggafontein TSF at 750 000 tonnes per m
Slide 13: Progress Update
VT N DRDGOLD LIMITED Progress Update | i Pesits
Slide 14: First to commission: Daggafontein TSF | ERGO
First to commission Daggafontein TSF | ERGO ✓ Water first pumped to the TSF on 25 June 2026. ✓ First tailings deposited on 6 July 2026. ✓ Mission accomplished. Commissioned P 14
Slide 15: DP2 | FWGR
DP2 | FWGR Delivering a step change in scale and sustainability The smelt house and elution circuit were commissioned on 14 July 2026 On track The remainder of the plant is scheduled for commissioning by the end of Q1 FY2027 with throughput maintained at 500 000 tonnes per month while the existing p
Slide 16: DP2 poured its first gold
DP2 Delivering a step change in scale and sustainability 14 July 2026, DP2 poured its first gold. PP 16 16
Slide 17: Pipeline project | FWGR
Pipeline project | FWGR 135km of slurry, residue and return-water lines to link DP2 to the 74.3 million tonne Libanon dump and the RTSF, are 95% complete. Libanon adds 600 000 tonnes per month to FWGR’s feed, alongside the 600 000 tonnes per month capacity from Driefontein #3. One step remains. The
Slide 18: RTSF | FWGR
RTSF | FWGR The key Vision 2028 enabler In progress June 2026 PP 18 18
Slide 19: RTSF: A key Vision 2028 enabler
RTSF A key Vision 2028 enabler On the 30th of June 2026, construction of the RTSF was at 67% and on track to attain a 1.2Mtpm deposition-rate capacity by Q1FY2028. An important RTSF project milestone toward this goal is permission by the DWS for “be e c al ccupa ”, which is contingent upon completio
Slide 20: RTSF: A key Vision 2028 enabler
RTSF A key Vision 2028 enabler An important factor in commissioning the RTSF, is the weather. Commissioning involves (initially) covering the drains in the basin of the RTSF with larger-fraction cyclone- underflow, explained in more detail, below. For this dry-weather conditions are required. P 20
Slide 21: Withok project, sequenced by design | ERGO
Withok project, sequenced by design | ERGO To increase throughput and extend LoM The site abuts the Brakpan TSF, a licensed deposition footprint whose original dump was reclaimed and reprocessed by our predecessor. Our design envisages a 310 million tonne TSF. Construction will take up to 24 months
Slide 22: Withok construction and commissioning approvals
W k’ c uc a d c mm pa ay • Public Participation has been completed. • Our design engineer (Approved Professional Person) and teams have been approved. • Applications for an Environmental Authorisation and Waste Management Licence have been submitted and are pending. • Application for a water-use lic
Slide 23: Commissioning the RTSF
Commissioning the RTSF Engineering a 34-year asset by protecting it from day one P 23
Slide 24: FWGR RTSF managed commissioning pathway
FWGR RTSF managed commissioning pathway and limited production impact Commissioning is being sequenced through defined regulatory, construction and seasonal gates to protect safe start-up, asset integrity and long-term deposition capacity – 34 year life of mine Current • DP2 at 0.5Mtpm to Driefontei
Slide 25: Capital Expenditure
Capital Expenditure 3500 3000 2500 Amount (R'million) 2000 1500 1000 500 0 Actual FY2024 Actual FY2025 *Actual FY2026 Forecast FY2027 Forecast FY2028 Forecast FY2029 Withok Daggafontein RTSF DP2 DP2 UFR Pipelines (including Libanon) * The capital expenditure figure remains subject to confirmation up
Slide 26: Vision 2028: the sum of the parts
Vision 2028 the sum of the parts Daggafontein, DP2, the pipeline and the RTSF together establish capacity to take DRDGOLD to 2.85Mtpm and an estimated output profile of between 185 000 and 195 000 ounces per annum, dependent upon volume and extraction efficiency. Once Withok is commissioned a furthe
Slide 27: Beyond 2028
Beyond 2028 Capacity designed for optionality Short Term: Cracking the code – after extensive pilot-plant test- work we decided to commit R880m to the construction of an Aztec up-flow reactor at FWGR. Target date for completion is Q4FY2027. Caution: the results from test-work under controlled condit
Slide 28: Positioning for Growth
i ositioning r Growth SUSTAINABLY GOLD RECLAIM | RESTORE | RETURN VN DRDGOLD LIMITED We don't’ dig deeper, we think smarter...