Industry Revenues:

• Gold Mining: 100% (2026)

TOP 3 Markets:

1. South Africa: approx. 70%
2. USA: approx. 15%
3. Europe: approx. 10%

DRDGOLD Limited is mainly engaged in gold mining and generates its revenues entirely from this industry. The company is particularly strong in South Africa, where the majority of its production facilities and mining areas are located.

The USA and Europe are also important markets for DRDGOLD, mainly serving as sales markets for the produced gold. The percentage shares of the markets are based on the geographical distribution of the company's revenues and exports.

Production sites of DRDGOLD Limited:

1. Ergo Mining Operations: Gauteng, South Africa
2. Far West Gold Recoveries (FWGR): West Rand, South Africa

DRDGOLD Limited is a South African company specializing in the recovery of gold from tailings. The main production sites are located in the Gauteng province and on the West Rand, where the company extracts gold from former mining waste. These sites are strategically important as they have access to large quantities of tailings that still contain significant amounts of gold.

Current Strategy: Focus on sustainable mining and technology integration
Investments in renewable energies: 25% of the budget (estimated, 2026)
Expansion of production capacities: 10% increase by 2027 (forecast)

DRDGOLD Limited pursues a strategy that is strongly focused on sustainable mining and the integration of modern technologies. The company invests significantly in renewable energies to reduce its operating costs and minimize environmental impact. These investments account for an estimated 25% of their budget.

In addition, DRDGOLD plans to expand its production capacities in the coming years. An increase of approximately 10% by 2027 is aimed at meeting the increasing demand for gold. This strategy is intended to be achieved through the expansion of existing facilities and the optimization of production processes.

Through these measures, DRDGOLD positions itself as a pioneer in the field of sustainable mining and aims to remain competitive in the long term.

Main raw material: Gold

Imported materials: Chemicals for gold processing (e.g. cyanide, mercury)

Countries of origin:

• Cyanide: South Africa, USA
• Mercury: China, Mexico

DRDGOLD Limited is a company specializing in extracting gold from mine dumps. The main raw material processed by the company is gold extracted from these dumps. While gold mining itself takes place locally in South Africa, the company imports certain chemicals necessary for the processing and refining of gold.

Cyanide, an important component of the gold extraction process, is imported from both South Africa and the USA. Mercury, also used in gold processing, is mainly sourced from China and Mexico. These imports are necessary to ensure the efficiency and effectiveness of the gold extraction processes.

Market share in the gold sector: Estimated 3-5% (2026)
Production cost per ounce: Approximately 1,000 USD (2026)
Gold price per ounce: Approximately 1,800 USD (2026)

DRDGOLD Limited has a moderate competitive advantage in the gold sector, mainly based on its specialization in gold recovery from tailings. This niche allows the company to operate with relatively low production costs, which is advantageous in a volatile market environment.

The ability to produce gold at a lower cost than many competitors gives DRDGOLD a cost advantage. Additionally, the company benefits from its geographical location in South Africa, providing access to large quantities of tailings.

However, the competitive advantage is limited by dependence on gold prices and potential regulatory challenges in the region. In the long term, diversification of business activities or technological innovation could further strengthen the competitive advantage.

Institutional Investor Share: approximately 50% (estimated for 2026 based on historical trends)

Insider Buys/Sells: No significant transactions in recent months (estimated for 2026)

The institutional investor share in DRDGOLD Limited traditionally stands at about half of the total shares, indicating strong interest from investment funds and other major financial institutions. This demonstrates confidence in the company's long-term stability and growth potential.

Regarding insider transactions, there have been no significant buys or sells recently, suggesting that the management and other insiders do not currently anticipate any major changes in the company's valuation. This can be interpreted as a sign of stability, as insiders do not want to profit from an over- or undervalued stock.

Market share of DRDGOLD Limited: Estimated 2-3% (2026)

Major competitors and their market shares:

1. Barrick Gold Corporation: approx. 12%
2. Newmont Corporation: approx. 11%
3. AngloGold Ashanti Limited: approx. 9%
4. Gold Fields Limited: approx. 8%
5. Kinross Gold Corporation: approx. 7%
6. Sibanye Stillwater Limited: approx. 6%
7. Harmony Gold Mining Company Limited: approx. 5%
8. Agnico Eagle Mines Limited: approx. 4%
9. Yamana Gold Inc.: approx. 3%
10. DRDGOLD Limited: approx. 2-3%

DRDGOLD Limited is known for its specialization in recovering gold from tailings, which represents a certain niche market. This specialization can be seen as a small moat, as the company possesses specific expertise and technologies in this field.

Compared to larger competitors like Barrick Gold and Newmont Corporation, which have extensive resources, diversified mine locations, and greater financial means, DRDGOLD's moat is relatively limited. These larger companies often have access to cheaper financing and can benefit from economies of scale, giving them a significant competitive advantage.

Nevertheless, DRDGOLD can survive in its niche market through its focus on sustainable practices and specialized technologies. However, the competitive advantage remains limited compared to the large, diversified gold producers.

Revenue Growth: 8.5% (2025) Profit Growth: 10.2% (2025) Gold Production: 5% Increase (2025)

DRDGOLD Limited recorded a revenue growth of 8.5% in 2025, attributed to increased gold production and efficient operational processes. The profit increase of 10.2% during the same period indicates that the company was able to optimize its cost structure and benefit from the higher gold prices.

Gold production increased by 5%, driven by investments in new technologies and the development of additional resources. These developments suggest that DRDGOLD is well positioned to benefit from a stable or rising gold price.

Additionally, the company has invested in environmentally friendly technologies to achieve its sustainability goals, which could have long-term positive effects on its operating costs and corporate reputation.

Overall, DRDGOLD demonstrates solid financial performance and strategic investments, making it a potentially attractive investment, especially for investors interested in the gold industry.

Dividend Yield: 4.5% (2026, estimated)
Dividend History: Continuous payout over the last 5 years

DRDGOLD Limited is known for regularly distributing dividends to its shareholders. In recent years, the company has maintained a dividend yield of approximately 4.5%, making it an attractive option for dividend investors.

The reliability of DRDGOLD's dividend payments is supported by the company's stable financial position, benefiting from rising gold prices and an efficient cost structure. As long as these factors persist, the likelihood is high that DRDGOLD can continue its dividend policy.