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DRDGOLD announces sale of interest in solar energy producer, concludes renewable energy supply agreement

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Published: Friday, 19 December 2025 17:21

Johannesburg, South Africa. 19 January 2025. DRDGOLD Limited (JSE, A2X, NYSE: DRD) is pleased to announce the disposal, through its wholly owned subsidiary, ERGO Mining Proprietary Limited (Ergo), of its 100% interest in Stellar Energy Solutions Proprietary Ltd (Stellar Energy Solutions), to NOA Group Assets Proprietary Limited) (NOA Group) for a total cash consideration of R147.5 million.

The disposal has reach financial close, with all conditions precedent having been satisfied, and will be implemented on Tuesday, 23 December 2025.

DRDGOLD commenced the development of a 150MWh solar plant to be located in Polokwane, Limpopo, in collaboration with the Neethling family in 2023 (Stellar Project). The Stellar Project is shovel-ready, with most licences and approvals having been obtained, including the Budget Quote from Eskom Holdings SOC Limited (Eskom). The Stellar Project represents DRDGOLD’s second initiative in the solar energy sector.

During the 2025 financial year, the company successfully commissioned a 60MWh solar plant and accompanying 160MWh battery energy storage system at its Ergo operation near Brakpan, Gauteng.

This facility provides approximately 12 hours of off-grid power daily to Ergo, meeting approximately half the operation’s total power requirements. Surplus power fed into the national grid is credited by Eskom against Ergo’s consumption. In addition to realising cost savings, DRDGOLD is earning credits from Eskom for this supply and will pursue carbon credits in due course.

Concurrent with the disposal, DRDGOLD has concluded an electricity supply agreement with the NOA Group to provide 76GWh per annum of renewable energy, with supply starting in January 2028. This agreement advances DRDGOLD’s objective of reducing its carbon footprint, and aligns with the anticipated increased production profile under DRDGOLD’s Vision 2028 growth strategy.

The disposal enables DRDGOLD to realise value from the Stellar Project while securing a long-term renewable energy supply agreement that supports the company’s operational requirements and sustainability objectives.

Investor and media relations queries:
Memory Johnstone

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James Duncan

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