DRDGOLD Ltd. · JSE:DRD
DRDGOLD — SA Tomorrow 2026
26 slides from DRDGOLD's conference presentation, Nov 3, 2026
Slide 1: SA Tomorrow 2026
Niël Pretorius Chief Executive Officer SA Tomorrow 2026 Henriette Hooijer 2 - 3 November 2026 Chief Financial Officer
Slide 2: Disclaimer
Disclaimer Unless otherwise indicated, all financial and operational figures relate to the year ended 30 June 2026. This presentation contains forward looking statements. Several factors beyond our immediate control could cause the actual results, performance or achievements to be materially differe
Slide 3: About DRDGOLD
About DRDGOLD South Africa's leading surface gold reclamation company JSE and NYSE listed gold producer New York USD1.97 billion (R33.37 billion) market capitalisation (as at 30 October 2026) Annual production profile of ~155 000 oz South Africa-based gold producer through Johannesburg large-scale,
Slide 4: What we do
What we do Reclaiming mining waste, recovering gold, restoring land and returning value • Low-grade resource means economies of scale High-pressure hydro-mechanical reclamation High plant extraction efficiencies – 24/7 operations Environmental authorisations require rehabilitation as a regulatory ma
Slide 5: Q1 FY2027 performance highlights
Q1 FY2027 performance highlights Quarter ended 30 September 2026 | Year-on-year performance 14% 10% 31% 42% Average gold price Gold produced Revenue Operating profit received R2 223 112/kg 1 307kg R2.95bn R1.63bn FY2027 guidance: 2025: R1 943 398/kg 2025: 1 191kg 2025: R2.25bn 2025: R1.15bn Producti
Slide 6: Production snapshot
Production snapshot Built to endure and positioned to capture the upside. Consolidated FY2026 year-on-year 0.2% 2.1% 1.0% Gold produced Group yield Gold sold 155 577oz 0.193g/t 156 413oz All-in sustaining 2025: 155 288oz 2025: 0.189g/t 2025: 154 902oz margin Beat cost guidance: Beat cost and product
Slide 7: Financial performance highlights
Financial performance highlights 19 consecutive years of dividends. Zero debt. Capital deployed with purpose. 52% 97% 98% Revenue Operating profit Free cash flow USD661.1m USD382.2m +63% USD134.3m Dividend record: 2025: USD434.1m 2025: USD194.1m 2025: USD67.6m R1.4bn returned to shareholders, the Es
Slide 8: Group financial trends
Group financial trends • As an unhedged gold producer, DRDGOLD retains full exposure to gold price upside • Costs are predictable and well-managed, able to beat cost guidance for FY2026 • At these margins, every additional ounce produced generates significant incremental cash flow Figures are for th
Slide 9: Capital allocation strategy
Capital allocation strategy Capital deployed with purpose Dividend policy Capital allocation framework Our capital allocation framework prioritises funding Vision 2028 while maintaining balance sheet strength. Within this Sustaining capital first framework, we aim to reward shareholders through an a
Slide 10: Vision 2028
Vision 2028 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 At Ergo, it meant: At FWGR, it meant: • creating 430 million tonnes of new tailings storage capacity • doubling DP2 throughput rate to 1.2Mtpm • res
Slide 11: The five projects to deliver Vision 2028
The five projects to deliver Vision 2028 R10 billion to secure scale, capacity and optionality 01 02 03 04 05 The Daggafontein The DP2 The pipeline project – The RTSF, The Withok TSF, TSF, ERGO expansion, DP2, RTSF and FWGR ERGO FWGR Libanon, FWGR Infrastructure and dual Doubling plant capacity A 13
Slide 12: At Ergo
At Ergo Designed to extend Ergo's life of mine by approximately 21 years by adding 430 million tonnes of deposition capacity. Daggafontein TSF – operational Withok TSF – approvals phase Vision Water first pumped to the TSF on 25 June 2026 • Adding 320 million tonnes of deposition capacity 2028 First
Slide 13: At Far West Gold Recoveries | FWGR
At Far West Gold Recoveries | FWGR DP2 Expansion – Pipeline project – DP2, RTSF RTSF – worldclass commissioning and Libanon – 95% complete • Smelthouse and elution circuit • 135km slurry, residue and water • As of 30 June 2026, construction of lines to DP2, Libanon and RTSF are Vision commissioned 1
Slide 14: Vision 2028
Vision 2028 the sum of the parts DRDGOLD's aim for FY2028 is to have infrastructure in place capable of delivering: • Monthly throughput: 2.85Mtpm • Annual output: 185 000 – 195 000 ounces (dependent on volume and extraction efficiency) • Represents an approx. 40% increase in throughput and approx.
Slide 15: Vision 2028 capital expenditure
Vision 2028 capital expenditure Disciplined capital, building the next decades. DRDGOLD September 2026 15
Slide 16: The window: A potentially promising dividend story
The window The opportunity is not just the business DRDGOLD is today, but the cash-generating business it is becoming. What changes when Vision 2028 delivers: FY2026 (current) Post-Vision 2028 Monthly throughput 2.1Mtpm 2.85Mtpm (3.0 with Withok) • 19 consecutive years of dividends, zero debt Annual
Slide 17: Beyond 2028
Beyond 2028 Capacity designed for optionality Medium – longer term A proven model with global potential RTSF’s design capacity allows for an ultimate deposition rate of We are assessing opportunities beyond South Africa, where 2.4Mtpm (double the initial deposition rate) offering potential for large
Slide 18: Share price movement
Share price movement A favourable gold cycle, real shareholder value. May 2026 – October 2026: Share price momentum JSE ZAR cents 3 841.00 30 October 2026 NYSE USD22.63 30 October 2026 DRDGOLD September 2026 18
Slide 19: Appendix
Appendix DRDGOLD September 2026 19
Slide 20: Group operating trends
Group operating trends DRDGOLD September 2026 20
Slide 21: Group financial trends
Group financial trends DRDGOLD September 2026 21
Slide 22: Financial review: Statement of profit and loss
Financial review: Statement of profit and loss for the year ended 30 June 2026 Year to Year to Year to Year to 30 June 2026 30 June 2025 30 June 2026 30 June 2025 US$'m US$'m Rm Rm Revenue 661.1 434.1 11 159.0 7 878.2 Cost of sales (307.7) (261.6) (5 193.9) (4 747.7) Gross profit from operating acti
Slide 23: Financial review: Statement of financial position
Financial review: Statement of financial position as at 30 June 2026 As at As at As at As at 30 June 2026 30 June 2025 30 June 2026 30 June 2025 US$'m US$'m Rm Rm Property, plant and equipment 706.1 470.6 11 918.5 8 542.2 Investments in rehabilitation and other 65.2 55.3 1 100.6 1 002.8 funds Paymen
Slide 24: Financial review: Statement of cash flows
Financial review: Statement of cash flows for the year ended 30 June 2026 Year to Year to Year to Year to 30 June 2026 30 June 2025 30 June 2026 30 June 2025 US$'m US$'m Rm Rm Net cash inflow from operating activities 336.2 193.4 5 675.3 3 511.1 Cash generated from operations 357.6 186.1 6 036.5 3 3
Slide 25: Mineral Resources and Mineral Reserves
Mineral Resources and Mineral Reserves A measured, long-life resource base, underpinning the growth ahead Mineral Resources inclusive of Mineral Reserves Tonnes Grade Au Au ounces reconciliation Mt g/t Moz Mineral Resources at 30 June 2025 685.30 0.28 6.27 Addition of Kloof 2 Dump 67.36 0.24 0.52 De
Slide 26: Contact us
Contact us Niël Pretorius Investor and media relations Registered office Shareholder data Chief Executive Officer Constantia Office Park (Incorporated in the Email: DRDGOLD_Communications Cnr 14th Avenue and Republic of South Africa) Henriette Hooijer @thirdactconsultants.com Hendrik Potgieter Road