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Trading statement and trading update for the year ended 30 June 2022

17 August 2022

DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1895/000926/06)
ISIN: ZAE000058723
JSE share code: DRD
NYSE trading symbol: DRD
('DRDGOLD' or the 'Company' or the 'Group')


TRADING STATEMENT AND TRADING UPDATE FOR THE YEAR ENDED 30 JUNE 2022


DRDGOLD is in the process of finalising its results for the year ended 30 June 2022 ('Current Reporting Period').
DRDGOLD's production guidance for the Current Reporting Period was between 160 000 and 180 000 ounces of gold at a
cash operating cost of R600 000/kg, with planned capital investment of R600 million. For the Current Reporting Period,
DRDGOLD produced 183 902 ounces of gold at a cash operating cost of R600,875/kg, with a capital investment of
R584.1 million.


In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading
statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current
reporting period will differ by at least 20% from the financial results of the previous corresponding period.


Shareholders are accordingly advised that the Company has reasonable certainty that it will report:
   - earnings per share ('EPS') of between 114.4 cents and 148.0 cents compared to 168.4 cents for the year ended
     30 June 2021 ('Previous Corresponding Period'), being a decrease of between 32% and 12%; and
   - headline earnings per share ('HEPS') of between 113.6 cents and 147.2 cents compared to 168.4 cents for the
     Previous Corresponding Period, being a decrease of between 33% and 13%.


The expected decreases in EPS and HEPS for the Current Reporting Period compared to the Previous Corresponding
Period are due mainly to movements in, inter alia, the following items:

1. Revenue

For the reclamation operations owned and managed by DRDGOLD, being Ergo Mining Proprietary Limited ('Ergo') and
Far West Gold Recoveries Proprietary Limited ('FWGR'), revenue decreased by R150.5 million, or 3%, to R5,118.5 million
(2021: R5,269.0 million).


Ergo's revenue decreased by R238.1 million, or 6%, to R3,704.9 million (2021: R3,943.0 million), due mainly to a 3%
decrease in the Rand gold price received and a 3% decrease in gold sold. The decrease in gold sold resulted from a 4%
decrease in volume throughput offset by a 1% increase in yield.


FWGR's revenue increased by R87.6 million, or 7%, to R1,413.6 million (2021: R1,326.0 million) due mainly to a 9%
increase in gold sold. The increase in gold sold resulted from an 8% increase in yield, notwithstanding volume throughput
decreasing by 1%.

2. Cash operating costs

The impact of the decrease in revenue on earnings and headline earnings was further impacted by an increase in cash
operating costs of R391.1 million, or 13%, to R3,463.8 million (2021: R3,072.7 million). The increases in costs at both
operations were mainly caused by above inflationary increases in the costs of key consumables, diesel, steel and cyanide.


At Ergo, cash operating costs increased by R343.3 million, or 13%, to R3,009.8 million (2021: R2,666.5 million).


At FWGR, cash operating costs increased by R47.8 million, or 12%, to R454.0 million (2021: R406.2 million).

3. Liquidity

As at 30 June 2022, DRDGOLD's cash and cash equivalents was R2,525.6 million (2021: R2,180.0 million), with a revolving
credit facility with ABSA Bank Limited of R200 million, available if needed. During the Current Reporting Period, DRDGOLD
generated free cash flow (cash inflow from operating activities less cash outflow from investing activities) of R871.6 million
and paid cash dividends of R513.3 million. The Group remains free of any bank debt as at 30 June 2022 (2021: Rnil).


The financial information contained in this announcement is the responsibility of the directors of DRDGOLD, and such
information has not been reviewed or reported on by the Company's auditors.


The condensed consolidated reviewed provisional results for the year ended 30 June 2022 are expected to be published
on or about 24 August 2022.


Johannesburg
17 August 2022

Sponsor
One Capital

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