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Investor Presentaiton

OPERATIONAL PERFORMANCE BY ASSET • EVANDER 8 SHAFT PILLAR Shaft tower construction between 14 and 16 Levels completed • Teething issues with underground • • • • support pseudo-packs now resolved, following delays due to COVID-19 - now changed to dry tailings and fly ash Production delays due to fracturing of the shaft lining successfully repaired - additional support installed in holing area to prevent similar incidents On track for feasibility study plan to produce 30,000oz/year at an average AISC of US$1,000/oz for the next three years Production cost savings result from simplified logistics, modern underground mining support and reduced travel times (300m tramming distance from shaft) Despite challenges, gold production from Evander u/g increased by 9.1% to 12,6070z (2019: 11,5530Z) 12 crews now in place to maintain tonnage of ~12,000 tpm (previously 9 crews, ~8,000 tpm) - to further benefit unit costs 25 Level Sandstone Coal Tillite Dolomite Mafic lava Witwatersrand supergroup 18 Level 24 Level Kimberley Reef รอวuno 8 Shaft 15 Level Egoli Evander 8 Shaft pillar production 5.000 Actual 4 000 3 000 2 000 1 000 0 7 Shaft 7A Shaft Kinross metallurgical plant Sandstone Coal Tillite Mafic lava 4.000 Forecast 3 000 2 000 1000 0 July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Ounces AISC US$/oz 20
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