JSE ticker code HAR / NYSE ticker code HMY © Harmony #MiningWithPurpose H1FY26 RESULTS PRESENTATION Beyers Nel, CEO 11 March 2026 H1FY26 results presentation Safe harbour statement Disclaimer – Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of the safe harbour provided by Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), with respect to our financial condition, results of operations, busine ...

© Harmony #MiningWithPurpose H1FY26 RESULTS PRESENTATION Beyers Nel, CEO 11 March 2026 JSE ticker code HAR / NYSE ticker code HMY H1FY26 results presentation Safe harbour statement Disclaimer – Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of the safe harbour provided by Section 21E of the Exchange Act and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), with respect to our financial condition, results of operations, busine ...

RT markusdd (@markusdd5)I feel I need to comment on this because I have been through this professionally and I have to 100% agree with Elon here. Simply because I have seen too often what 'having a safety team' means. These get established because safety did not work. Instead of changing the culture - so safety is default thinking - you try to establish a department. Which subsequently is hated by everyone because they infringe on product timelines and do not eat their own dogfood. So their safety is usuall ...

Investigators: Midair DC Crash Was Partly Due To Lack Of 'Safety Culture' At FAAhttps://t.co/t0yJy37Uo8 https://t.co/dx2WGxkvW5 ...

Financial Data and Key Metrics Changes - Barrick reported record operating cash flow, free cash flow, and adjusted net earnings for Q3 2025, with free cash flow increasing by 274% quarter-over-quarter [10][11] - The company ended the quarter with a net cash position, allowing for a 25% increase in the base dividend and a significant share repurchase program totaling $598 million [10][11] - Attributable EBITDA increased by 20% quarter-over-quarter, driven by higher gold prices and production volume growth [10][11] Business Line Data and Key Metrics Changes - Gold production increased by 4% from Q2, with notable contributions from Kibali, Cortez, and Turquoise Ridge [8][13] - Copper production slightly declined due to a planned shutdown at Lumwana, but is expected to meet annual guidance [8][16] - North America's attributable EBITDA rose by 19% from Q2, with all sites reporting lower unit costs per ounce [13] Market Data and Key Metrics Changes - The gold price experienced a 5% increase, contributing to a 25% quarter-on-quarter increase in attributable gold EBITDA [8] - The company anticipates continued growth in both gold and copper production in Q4, aligning with its 2025 production guidance [9][17] Company Strategy and Development Direction - The company is focusing on enhancing operational performance and safety, particularly in its North American gold assets [4][5] - Barrick is prioritizing the Fourmile project, which is considered one of the most significant gold discoveries of the century, with plans to double the existing resource [14][19] - The company aims to maintain a strong balance sheet while investing in growth and returning excess cash to shareholders [11][12] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of safety and operational performance, especially following three fatalities in the quarter [6][7] - The operational review aims to stabilize and improve consistency in production, with no major changes expected in medium-term guidance [31][32] - The company is optimistic about achieving its production guidance for both gold and copper, despite the challenges faced [17] Other Important Information - The company has increased its exploration budget for Fourmile by over $10 million for the remainder of 2025 [14] - Asset sales, including Hemlo and Tongon, are expected to close before the end of the year, further strengthening the company's financial position [11] Q&A Session Summary Question: Can you provide a framework for the operational review at Nevada Gold Mines? - The operational review focuses on stabilizing operations and improving maintenance approaches to avoid unexpected downtimes [22][23] Question: Is there any update on the maintenance issues at Carlin? - The scaling issue at Gold Quarry occurred post-maintenance shutdown and has been addressed [24][25] Question: What is the expected output of the operational review? - The review aims to provide more predictable outcomes and will inform next year's budget, but no major changes are anticipated [30][31] Question: Are there any other potential areas for asset sales? - Currently, the focus remains on North America and key growth projects, with no immediate plans for additional asset sales [39] Question: What changes in corporate policies can be expected under the new leadership? - The strategy remains consistent, with an increased focus on North America and Nevada as key growth areas [81]

Financial Data and Key Metrics Changes - Barrick reported record operating cash flow, free cash flow, and adjusted net earnings for Q3 2025, with free cash flow increasing by 274% quarter-over-quarter [10][11] - The company ended the quarter with a net cash position, allowing for a 25% increase in the base dividend and a significant share repurchase program totaling $598 million [10][11] - Attributable EBITDA increased by 20% quarter-over-quarter, driven by higher gold prices and production volume growth [10][11] Business Line Data and Key Metrics Changes - Gold production increased by 4% from Q2 2025, with notable contributions from Kibali, Cortez, and Pueblo Viejo [8][13] - Copper production slightly declined due to a planned shutdown at Lumwana, but is expected to meet annual guidance [8][16] - North America's attributable EBITDA rose by 19% from Q2, with all sites reporting lower unit costs per ounce [13] Market Data and Key Metrics Changes - The gold price experienced a 5% increase, contributing to higher margins and cash flow [10][11] - The company anticipates continued growth in gold production for Q4, aligning with its 2025 production plan [8][17] Company Strategy and Development Direction - The company is focusing on enhancing operational performance and safety, particularly in its North American gold assets [4][5] - Barrick is prioritizing the Fourmile project, which is considered one of the most significant gold discoveries of the century, with plans to double the existing resource [14][15] - The strategic focus is on North America, with an emphasis on Nevada as a core asset for future growth [18][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the strong operational and financial results but emphasized the need for improved safety measures following three fatalities [5][6][7] - The operational review aims to stabilize performance and ensure consistent delivery, with no major changes expected in medium-term guidance [31][32] - The company is committed to maintaining a strong balance sheet while returning excess cash to shareholders [11][12] Other Important Information - The company is conducting a full investigation into recent fatalities to enhance safety protocols [6][7] - Asset sales, including Hemlo and Tongon, are expected to close before year-end, contributing to cash flow [11][17] Q&A Session Summary Question: Can you provide a framework for the operational review at Nevada Gold Mines? - The review aims to stabilize operations and improve maintenance approaches to avoid unexpected downtimes [22][23] Question: Is there any update on the maintenance issues at Carlin? - The scaling issue at Gold Quarry occurred post-maintenance and has been addressed [24][25] Question: What is the expected output of the operational review? - The review will inform next year's budget but is not expected to lead to major changes in guidance [30][31] Question: Are there any other potential asset sales in the portfolio? - Currently, the focus is on North America and key growth projects, with no other asset sales being considered at this time [39] Question: What changes in corporate policies can be expected under the new leadership? - The strategy remains consistent, with a heightened focus on North America and Nevada for growth opportunities [81]

Core Points - HEI Civil's Colorado Division received the 2024 William H. Feather Safety Award from the National Utility Contractors Association for achieving over 1,000,000 manhours worked without a recordable incident, highlighting the company's commitment to safety [1][2] - The award recognizes companies that demonstrate a high commitment to maintaining a safe work environment, with HEI Civil's achievement reflecting the effectiveness of its safety programs and the dedication of its team members [2] - Luis Uresti, HEI Civil's Colorado Safety Manager, emphasized that the award validates the company's efforts to foster an industry-leading safety culture and showcases the team's commitment to safety in every project [3] Company Overview - Founded in 1973, HEI Civil is a prominent heavy civil construction general contractor operating in Colorado, Texas, and North Carolina, focusing on infrastructure development [4] - The company is driven by its mission to attract and build the best people, teams, and projects, delivering exceptional results through its core values of GRIT: growth, raising the bar, integrity, and teamwork [4] - HEI Civil maintains a steadfast focus on safety, quality, client service, equipment, and production, executing complex heavy civil projects essential for community development [4]

Financial Data and Key Metrics Changes - The company reported a record gross profit of nearly $77 million for the year, an increase of 86% from 2023 [4] - Net attributable profit was just under $19 million, compared to a loss of $4 million in the previous year, reflecting stronger operating cash flow of nearly $42 million compared to just less than $15 million in the previous year [4][5] - The average realized gold price in Q4 was just over $2,600, compared to just under $1,900 in the comparable quarter of the previous year [20] Business Line Data and Key Metrics Changes - Production at Blanket was within guidance, ending the year with 76,656 ounces, a 1.6% improvement compared to 2023 [24] - Production costs at Blanket remained broadly the same at about $19 million, with gross profit increasing to $20 million compared to $11 million in the previous quarter [36] - Bilboes continued to incur losses but is now on care and maintenance, with minimal impact on overall performance [52] Market Data and Key Metrics Changes - The company experienced a significant increase in revenue due to higher gold prices, contributing to the substantial increase in gross profit [20] - The local currency, the ZiG, stabilized in Q4, leading to reduced foreign exchange losses compared to earlier in the year [46] Company Strategy and Development Direction - The company plans to extend the timeline for the feasibility study for Bilboes to optimize project economics and explore new development options [6][62] - There is a focus on maintaining stable production at Blanket and investigating near-term growth opportunities across the portfolio, including Blanket, Bilboes, and Motapa [78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stability of the ZiG and improvements in cash generation, indicating a positive outlook for Q1 2025 [142] - The company is focused on reducing costs, particularly in labor and electricity, to improve overall profitability [41][130] Other Important Information - The company declared a dividend of $0.14 for the quarter, totaling $0.56 for the year [7][21] - Significant changes to the Board and management have occurred, contributing to improved operational performance [8] Q&A Session Summary Question: What is the status of the solar power project, the sale of that asset? - The company expects to provide an update sometime this week [85] Question: What is the reliability of production targets from the mine? - The target is to pull out 800,000 tonnes from the shaft, which is considered stable [86][87] Question: What is the timeline for developing a reliable reserve at Motapa? - The company will take as long as necessary to ensure the best project outcome, considering the potential integration of Motapa into the feasibility study [88][90] Question: Will the tailings dam strategy change based on concentrate sales? - Yes, if permanent permission to export concentrate is granted, it could affect the tailings facility setup [93][94] Question: Is the bank debt down to about $2 million? - The company has more cash than debt, but the strategy is to maintain debt in-country and cash out of the country [102] Question: What is the effective tax rate for the company? - The effective tax rate remains high due to structural inefficiencies, with a commercial tax rate in Zimbabwe around 24% [105][107] Question: Are there plans for more retirement expenses in 2025? - Future retirement expenses will be minimal compared to 2024, as the policy will only affect a few individuals each year [118] Question: What are the greatest cost risks for 2025? - The most unpredictable cost risk is electricity, particularly if the grid collapses [130]