Bruce Williamson

Ed Stauder

- For the quarter ended September 30, 2025, **gold production increased by 2%** to **1,191 kg** (38,291 oz), contributing to a **2% rise in revenue** to **R2,254.9 million**.  **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:0]** **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:1]** 
- **Adjusted EBITDA grew by 1%** to **R1,093.0 million**, supported by a higher average gold price received of **R1,943,398 per kg** (US$3,429 per oz).  **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:0]** **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:1]** 
- **Cash operating costs per kilogram increased by 3%** to **R955,086 per kg**, primarily due to annual labor increases, higher reagent costs, and increased electricity tariffs.  **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:0]** **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:1]** 
- Cash and cash equivalents decreased by **R257.1 million** to **R1,049.1 million** as of September 30, 2025, after paying a **R345.7 million dividend** and incurring **R751.8 million in capital expenditure**, with the company remaining **debt-free**.  **[1023512_0001628280-25-045159_operatingupdateq1_fy20261.htm:1]**

DRDGOLD (DRD)