DRDGOLD Ltd ADR 2025年年度报告和过渡报告

7C.Interests Of Experts And CounselITEM 8.FINANCIAL INFORMATION8A.Consolidated statements And Other Financial Information8B.Significant ChangesITEM 9.THE OFFER AND LISTING9A.Offer And Listing Details9B.Plan Of Distribution9C.Markets9D.Selling Shareholders9E.Dilution9F.Expenses Of The IssueITEM 10.ADDITIONAL INFORMATION10A.Share Capital10B.Memorandum and articles of association10C.Material Contracts10D.Exchange Controls10E.Taxation10F.Dividends And Paying Agents10G.Statement By Experts10H.Documents On Display10I.Subsidiary InformationITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK TABLE OF CONTENTS We are a South African company and currently all our operations are located in South Africa. Accordingly, our books of accountare maintained in South African Rand. Our financial statements included in our corporate filings are prepared in accordance withInternational Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). All financial information in this Annual Report, except as otherwise noted is prepared in accordance with IFRS as issued by the IASB.We present our financial information inrand, which is our presentation and reporting currency. All references to “dollars” or “$”herein are to United States Dollars and references to “rand” or “R” are to South African rands. Solely for your convenience, this AnnualReport contains translations of certain rand amounts into dollars at specified rates. These rand amounts do not represent actual dollaramounts, nor could they necessarily have been converted into dollars at the rates indicated. Unless otherwise indicated, rand amounts havebeen translated into dollars at the rate ofR17.75per $1.00, the year end exchange rate onJune 30, 2025. Inthis Annual Report, we present certain non-IFRS financial measures including "Adjusted EBITDA", "cash operating costs",“cash operating costs per kilogram”, "all-in sustaining costs", “all-in sustaining costs per kilogram”, "all-in costs", “all-in costs perkilogram”, "growth capital expenditure" and "sustaining capital expenditure".The non-IFRS measures "cash operating costs", “cashoperating costs per kilogram”, "all-in sustaining costs", “all-in sustaining costs per kilogram”, "all-in costs" and “all-in costs per kilogram”have been determined using industry guidelines promulgated by the World Gold Council, and are used to determine costs associated withproducing gold, cash generating capacities of the mines and to monitor the performance of our mining operations.An investor should notconsider these items in isolation or as alternatives to, operating costs, cash generated from operating activities, profit/(loss) for the year orany other measure of financial performance presented in accordance with IFRS or as an indicator of our performance. While the World GoldCouncil has provided definitions for the calculation of these measures, the calculation of cash operating costs per kilogram, all-in sustainingcosts per kilogram and all-in costs per kilogram may vary significantly among gold mining companies, and these definitions by themselvesdo not necessarily provide a basis for comparison with other gold mining companies. See Glossary of Terms and Explanations and Item 5A.Operating Results – “Cash operating costs, all-in sustaining costs and all-in costs” and “Reconciliation of cash operating costs per kilogram,all-in sustaining costs per kilogram, all-in costs per kilogram”. DRDGOLD Limited When used in this Annual Report, the term the “Company” refers to DRDGOLD Limited and the terms “we,” “our,” “us” or “theGroup” refer to the Company and its subsidiaries as appropriate in the context. Special Note RegardingForward-Looking Statements This Annual Report contains certain “forward-looking” statements within the meaning of Section 21E of the U.S. SecuritiesExchange Act of 1934, regarding expected future events, circumstances, trends and expected future financial performance and informationrelating to us that are based on the beliefs of our management, as well as assumptions made by and information currently available to ourmanagement. Some of these forward-looking statements include phrases such as “anticipates,” “believes,” “could,” “estimates,” “expects,”“intends,” “may,” “should,” or “will continue,” or similar expressions or the negatives thereof or other variations on these expressions, orsimilar terminology, or discussions of strategy, plans or intentions, including statements in connection with, or relating to, among otherthings:•our reserve calculations and underlying assumptions; •the trend information discussed in Item 5D.- Trend Information, including target gold production and cash operating costs;•life of mine and potential increase in life of mine;•statements made in or with respect to the Technical Report Summaries (“TRS” or “TRSs”) including statements with respect toMineral Reserves and Resources and assumptions, gold prices, projected revenue and cas