Document:

Document

Execution Version

			
	

TERM FACILITY A AGREEMENT
			
	

amongst

HARMONY GOLD MINING COMPANY LIMITED
(as Borrower and Obligors’ Agent)

with

THE FINANCIAL INSTITUTIONS LISTED IN SCHEDULE 1
and

ABSA BANK LIMITED
(acting through its Corporate and Investment Banking division)
(as Facility Agent)

CONTENTS
									
	1	DEFINITIONS AND INTERPRETATION	1
	2	FACILITY A LOAN	6
	3	CONDITIONS OF UTILISATION	6
	4	UTILISATION	6
	5	REPAYMENT	7
	6	INTEREST	11
	7	INTERESTS PERIODS	12
	8	CHANGES TO THE CALCULATION OF INTEREST	13
	9	COMMITMENT FEE	14
	10	CHANGES TO REFERENCE RATES	14
	11	PREPAYMENT	17
	12	CONSEQUENCES OF EVENT OF DEFAULT	17
	13	CERTIFICATE OF BREAKAGE COSTS	17
	SCHEDULE 1 THE ORIGINAL FACILITY A LENDERS	32
	SCHEDULE 2 FORM OF UTILISATION REQUEST	33
	SCHEDULE 3 TIMETABLES	34
	SCHEDULE 4 REFERENCE RATE TERMS	35
	SCHEDULE 5 DAILY NON-CUMULATIVE COMPOUNDED RFR RATE	38
	SCHEDULE 6 CUMULATIVE COMPOUNDED RFR RATE	40
	SCHEDULE 7 FORM OF EXTENSION DOCUMENTS	41
	PART 1 FORM OF EXTENSION REQUEST	41
	PART 2 FORM OF EXTENSION ACCEPTANCE NOTICE	42

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PARTIES:
This Agreement is made between:
(1)Harmony Gold Mining Company Limited, a company registered in accordance with the laws of South Africa under registration number 1950/038232/06, as borrower and agent on behalf of the Obligors (the Borrower and Obligors’ Agent);
(2)The financial institutions listed in Schedule 1 as original lenders (the Original Facility A Lenders);
(3)Absa Bank Limited (acting through its Corporate and Investment Banking division), a public company duly incorporated in accordance with the laws of South Africa under registration number 1986/004794/06, as facility agent (Facility Agent).

IT IS AGREED AS FOLLOWS:
1.DEFINITIONS AND INTERPRETATION
1.1Definitions
In this Agreement:
1.1.1Additional Business Day means any day specified as such in the Reference Rate Terms;
1.1.2Agreement means this Term Facility A Agreement and its Schedules as read with the Common Terms Agreement;
1.1.3Applicable Margin means in respect of any Interest Period:
1.1.3.1a margin of 2.85% (two point eight five per cent) per annum subject to adjustment by the applicable Sustainability Margin Adjustment Percentage in accordance with the provisions of Clause 13.3 (Adjustment of Sustainability Linked Facility Margin – Sustainability KPI Reports) of the Common Terms Agreement, provided that any adjustment to such margin pursuant to the provisions of Clause 13.3 of the Common Term Agreement shall cease to be of any force or effect on the occurrence of the Event of Default which is continuing or pursuant to Clause 13.4.2 (KPI Change) of the Common Terms Agreement (each a Relevant Date) as contemplated in Clause 13.3 or Clause 13.4.2, as applicable, of the Common Terms Agreement on the basis that with effect from the Relevant Date, the margin shall be 2.85% (two point eight five per cent); 
1.1.3.2without double counting the interest payable in accordance with clauses 13.3.3 (Adjustment of Sustainability Linked Facility Margin – Sustainability KPI Reports) and 13.5 (Default interest) of the Common Terms Agreement, if an Event of Default has occurred and whilst it is continuing, the margin contemplated in Clause 1.1.3.1 plus 2% (two percent);
1.1.4Availability Period means the period from and including Financial Close to and including the date which is the earlier of: 
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Term Facility A Agreement_Execution

1.1.4.1the date on which all of the Facility A Commitments are cancelled in terms of this Agreement; and
1.1.4.21 (one) Month after the Financial Close; 
1.1.5Breakage Costs means any amount specified as such in the Reference Rate Terms;
1.1.6Business Day means:
1.1.6.1a day (other than a Saturday or Sunday) on which banks are open for general business in Johannesburg, London and New York; and
1.1.6.2in relation to:
1.1.6.2.1any date for payment or purchase of an amount relating to a Facility A Loan or Unpaid Sum; or
1.1.6.2.2the determination of the first day or the last day of an Interest Period for a Facility A Loan or Unpaid Sum, or otherwise in relation to the determination of the length of such an Interest Period; or
1.1.6.2.3any Lookback Period or period for giving notice of prepayment,
a day which is an Additional Business Day relating to that Facility A Loan or Unpaid Sum;
1.1.7Central Bank Rate has the meaning given to that term in the Reference Rate Terms;
1.1.8Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms;
1.1.9Central Bank Rate Spread has the meaning given to that term in the Reference Rate Terms;
1.1.10Common Terms Agreement means the written agreement titled "Common Terms Agreement" concluded or to be concluded among the Borrower, African Rainbow Minerals Gold Limited, Freegold (Harmony) Proprietary Limited, Randfontein Estates Limited, Avgold Limited, Harmony Copper Limited, Harmony Moab Khotsong Operations Proprietary Limited, Golden Core Trade and Invest Proprietary Limited, Morobe Consolidated Goldfields Limited, Wafi Mining Limited, Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division) (in its capacity as the Global Coordinator and Bookrunner, Original Lender, Original Hedge Provider; and the Sustainability Coordinator), Absa Bank Limited (acting through its Corporate and Investment Banking division) (in its capacity as the Global Coordinator and Bookrunner, Original Lender, Original Hedge Provider, Facility Agent, the Sustainability Agent and the Sustainability Coordinator) on or about the Signature Date; 
1.1.11Compounded Reference Rate means, in relation to any RFR Banking Day during the Interest Period of a Facility A Loan, the percentage rate per annum which is the Daily Non-Cumulative Compounded RFR Rate for that RFR Banking Day;
1.1.12Compounding Methodology Supplement means, in relation to the Daily Non-Cumulative Compounded RFR Rate or the Cumulative Compounded RFR Rate, a document which:
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Term Facility A Agreement_Execution

1.1.12.1is agreed in writing by the Borrower, the Facility Agent (in its own capacity) and the Facility Agent (acting on the instructions of the Majority Lenders);
1.1.12.2specifies a calculation methodology for that rate; and
1.1.12.3has been made available to the Borrower and each Finance Party;
1.1.13Cumulative Compounded RFR Rate means, in relation to an Interest Period for a Facility A Loan, the percentage rate per annum determined by the Facility Agent (or by any other Finance Party which agrees to determine that rate in place of the Facility Agent) in accordance with the methodology set out in Schedule 6 (Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement;
1.1.14Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Banking Day during an Interest Period for a Facility A Loan, the percentage rate per annum determined by the Facility Agent (or by any other Finance Party which agrees to determine that rate in place of the Facility Agent) in accordance with the methodology set out in Schedule 5 (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement;
1.1.15Daily Rate means the rate specified as such in the Reference Rate Terms; 
1.1.16Extended Repayment Date means either the First Extended Repayment Date or the Second Extended Repayment Date; 
1.1.17Facility A means the facility described in Clause 2 (Facility A) of this Agreement;
1.1.18Facility A Loan means a loan made or to be made under Facility A or (as the context may require) the principal amount outstanding for the time being of that loan;
1.1.19Final Repayment Date means the Initial Repayment Date or, if extended in accordance with Clause 5.2 (Extension Option), the Extended Repayment Date (as appropriate);
1.1.20First Extended Repayment Date means the date falling 1 (one) year after the Initial Repayment Date;
1.1.21Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to Clause 8.3.1.2 (Cost of funds);
1.1.22Initial Repayment Date means the date falling on the third anniversary date of Financial Close;
1.1.23Interest Payment means the aggregate amount of interest that is, or is scheduled to become, payable under this Agreement;
1.1.24Interest Payment Date means the last day of each Interest Period;
1.1.25Interest Period means, in relation to the Facility A Loan, each period determined in accordance with Clause 7 (Interest Periods) of this Agreement and, in relation to Unpaid Sums, each period determined in accordance with Clause 13.5 (Default interest) of the Common Terms Agreement; 
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Term Facility A Agreement_Execution

1.1.26Lookback Period means the number of days specified as such in the Reference Rate Terms;
1.1.27Majority Lenders means:
1.1.27.1if there are no Facility A Loans then outstanding, a Facility A Lender or Facility A Lenders whose Facility A Commitments aggregate at least 66,67% (sixty six point six seven per cent) of the Total Facility A Commitments (or, if the Total Facility A Commitments have been reduced to zero, aggregated at least 66,67% (sixty six point six seven per cent) of the Total Facility A Commitments immediately prior to the reduction; and 
1.1.27.2at any other time, a Facility A Lender or Facility A Lenders whose participations in the Facility A Loans then outstanding aggregate at least 66,67% (sixty six point six seven per cent) of all the Facility A Loans then outstanding;
1.1.28Market Disruption Rate means the rate (if any) specified as such in the Reference Rate Terms;
1.1.29Month means:
1.1.29.1in relation to an Interest Period (or any other period for the accrual of commission or fees), a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, subject to adjustment in accordance with the rules specified as Business Day Conventions in the Reference Rate Terms;
1.1.29.2in relation to any other period of time, a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that:
1.1.29.2.1if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day;
1.1.29.2.2if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month;
1.1.30Parties means the parties in this Agreement and Party means, as the context require, any one of them;
1.1.31Reference Rate Supplement means, in relation to any currency, a document which:
1.1.31.1 is agreed in writing by the Borrower, the Facility Agent (in its own capacity) and the Facility Agent (acting on the instructions of the Majority Lenders);
1.1.31.2specifies for that currency the relevant terms which are expressed in this Agreement to be determined by reference to the Reference Rate Terms; and
1.1.31.3has been made available to the Borrower and each Finance Party;
1.1.32Reference Rate Terms means the terms set out in Schedule 4 (Reference Rate Terms) or in any Reference Rate Supplement;
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Term Facility A Agreement_Execution

1.1.33Relevant Market means the market specified as such in the Reference Rate Terms;
1.1.34Reporting Day means the day (if any) specified as such in the Reference Rate Terms;
1.1.35Reporting Time means the relevant time as specified in the Reference Rate Terms;
1.1.36RFR means the rate specified as such in the Reference Rate Terms;
1.1.37RFR Banking Day means any day specified as such in the Reference Rate Terms;
1.1.38Second Extended Repayment Date means the date falling 1 (one) year after the First Extended Repayment Date;
1.1.39Specified Time means a time determined in accordance with Schedule 3 (Timetables);
1.1.40Signature Date means the date of the signature of the Party last signing this Agreement in time subject to all other Parties having signed;
1.1.41Utilisation means the utilisation of a Facility A Loan; and
1.1.42Utilisation Request means a notice substantially in the form set out in Schedule 2 (Form of Utilisation Request).
1.2Construction
1.2.1Unless a contrary indication appears, any reference in this Agreement to a Facility A Lender's "cost of funds" in relation to its participation in a Facility A Loan is a reference to the average cost (determined either on an actual or a notional basis) which that Facility A Lender would incur if it were to fund, from whatever source(s) it may reasonably select, an amount equal to the amount of its participation in that Facility A Loan for a period equal in length to the Interest Period of that Facility A Loan.
1.2.2A reference in this Agreement to a page or screen of an information service displaying a rate shall include:
1.2.2.1any replacement page of that information service which displays that rate; and
1.2.2.2the appropriate page of such other information service which displays that rate from time to time in place of that information service,
and, if such page or service ceases to be available, shall include any other page or service displaying that rate specified by the Facility Agent after consultation with the Borrower.
1.2.3A reference in this Agreement to a Central Bank Rate shall include any successor rate to, or replacement rate for, that rate.
1.2.4The determination of the extent to which a rate is “for a period equal in length” to an Interest Period shall disregard any inconsistency arising from the last day of that Interest Period being determined pursuant to the terms of this Agreement.
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Term Facility A Agreement_Execution

1.2.5Any Reference Rate Supplement overrides anything in:
1.2.5.1Schedule 4 (Reference Rate Terms); or
1.2.5.2any earlier Reference Rate Supplement.
1.2.6A Compounding Methodology Supplement relating to the Daily Non-Cumulative Compounded RFR Rate or the Cumulative Compounded RFR Rate overrides anything relating to that rate in:
1.2.6.1Schedule 5 (Daily Non-Cumulative Compounded RFR Rate) or Schedule 6 (Cumulative Compounded RFR Rate), as the case may be; or
1.2.6.2any earlier Compounding Methodology Supplement.
1.3Common Terms Agreement
1.3.1Terms used (but not otherwise defined) in this Agreement have the meaning given to them in the Common Terms Agreement.
1.3.2The provisions of Clause 1 (Definitions and Interpretation) of the Common Terms Agreement apply to this Agreement as if set out in this Agreement in full.
1.3.3This Agreement and the rights and obligations of the Parties shall in all respects be subject to the terms and conditions of the Common Terms Agreement but, in the event of any conflict between the provisions of this Agreement and the provisions of the Common Terms Agreement, the provisions of this Agreement shall prevail.
2.FACILITY A LOAN 
Subject to the terms of this Agreement and the Common Terms Agreement, the Facility A Lenders agree to make available to the Borrower a bullet term loan facility in an aggregate amount equal to the Total Facility A Commitments. The Borrower shall apply all amounts borrowed by it under Facility A, for the purpose set out in Clause 6.1.1.3 of the Common Terms Agreement.
3.CONDITIONS OF UTILISATION
The obligation of the Facility A Lenders to lend, and the right of the Borrower to borrow, any Facility A Loan under this Agreement is subject to the fulfilment or waiver (to the extent applicable) of all of the conditions set out in clause 8.1 (Initial Conditions Precedent) and clause 8.3 (Further Conditions Precedent) of the Common Terms Agreement.
4.UTILISATION
4.1Delivery of a Utilisation Request
The Borrower may utilise Facility A by delivery to the Facility Agent of a duly completed Utilisation Request by no later than the Specified Time.
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Term Facility A Agreement_Execution

4.2Completion of a Utilisation Request
4.2.1The Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
4.2.1.1the proposed Utilisation Date is a Business Day within the Availability Period;
4.2.1.2the currency and amount of the Utilisation comply with Clause 4.3 (Currency and amount); and
4.2.1.3it specifies a bank account in South Africa to which the Borrower requires the proceeds of the Facility A Loan to be credited.
4.2.2Only one Utilisation Request may be submitted in respect of Facility A and the Borrower may not deliver the Utilisation Request if, as a result of the proposed Utilisation, more than one Facility A Loan would be outstanding.
4.3Currency and amount
4.3.1The currency specified in a Utilisation Request must be USD.
4.3.2The amount of the proposed Facility A Loan must be an amount which is equal to the Total Facility A Commitment.
4.4Term Facility A Lenders' participation
4.4.1If the conditions set out in this Agreement have been met and subject to Clause 3 (Conditions of Utilisation) each Facility A Lender shall pay its participation in the Facility A Loan to the Facility Agent by the Utilisation Date from its Facility Office.
4.4.2The amount of each Facility A Lender's participation in the Facility A Loan will be equal to the proportion borne by its Available Commitment to Available Facility immediately prior to making the Facility A Loan.
4.5Cancellation of Commitment
The Facility A Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period and each Facility A Lender’s Available Commitment under Facility A shall be reduced to zero.
5.REPAYMENT 
5.1Repayment of the Facility A Loan
5.1.1The Borrower shall, subject to the provisions of Clauses 11 (Prepayment) and 12 (Consequences of Event of Default), repay the Facility A Loan made to it in full on the Final Repayment Date.
5.1.2The Borrower may not re-borrow any part of the Facility A Loan which is repaid.
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Term Facility A Agreement_Execution

5.2Extension option
5.2.1The Borrower may, by giving notice to the Facility Agent substantially in the form set out in Part 1 of Schedule 7 (Form of Extension Documents), (an Extension Request): 
5.2.1.1not less than 100 (one hundred) days (and not more than 120 (one hundred and twenty) days) before the first anniversary of Financial Close, request that the Initial Repayment Date be extended to the First Extended Repayment Date; and
5.2.1.2not less than 100 (one hundred) days (and not more than 120 (one hundred and twenty) days) before the second anniversary of Financial Close, request that the First Extended Repayment Date be extended to the Second Extended Repayment Date.
5.2.2The Facility Agent must promptly, but in any event by no later than 2 (two) Business Days following receipt, notify the Lenders of the receipt of an Extension Request.
5.2.3Each Lender shall notify the Facility Agent and the Borrower of its decision whether or not to consent to the Extension Request not more than 20 (twenty) Business Days after being notified by the Facility Agent of the Extension Request (the Extension Request End Date). A Lender who has consented to the Extension Request (the Extending Lenders), shall deliver a written notice to the Facility Agent substantially in the form set out in Part 2 of Schedule 7 (Form of Extension Documents) (an Extension Acceptance Notice). If a Lender has not delivered an Extension Acceptance Notice on or before the Extension Request End Date, it shall be deemed to have refused to consent to the Extension Request (together with a Lender who has explicitly refused to consent to an Extension Request, the Non-Extending Lenders).
5.2.4Each Non-Extending Lender shall, on the Business Day immediately following the Extension Request End Date, be deemed to have offered all (and not part only) of its Available Commitment under Facility A and the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan (together with all of its rights and obligations under the Finance Documents) to each Extending Lender pro rata in accordance with Clause 5.2.6 below. The Facility Agent shall inform all Extending Lenders of such offer by issuing a notice (the Lender Replacement Notice) within two Business Days of such date. The offer made pursuant to this Clause 5.2.4 shall immediately lapse at the end of the Business Day immediately preceding the commencement of the Replacement Lender Offer Period (as defined below).
5.2.5An Extending Lender may, within 15 (fifteen) Business Days of receipt of a Lender Replacement Notice (the Replacement Notice End Date) deliver a further Extension Acceptance Notice to the Facility Agent and the Borrower pursuant to which it confirms its willingness to assume (i) its pro rata share of each such Non-Extending Lender’s Available Commitment under Facility A and the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan and (ii) all the rights and obligations of each Non-Extending Lender (the Initial Pro Rata Participation) for a purchase price in cash payable at the time of transfer in an amount equal to its pro rata share of the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan and all accrued interest, Breakage Costs and other amounts payable in relation thereto under the Finance Documents. If an Extending Lender has not 
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Term Facility A Agreement_Execution

notified the Facility Agent in writing of its consent on or before such date, it shall be deemed to have declined its Initial Pro Rata Participation. An Extending Lender may, in its further Extension Acceptance Notice, indicate whether it wishes to assume, in addition to its Initial Pro Rata Participation, any additional amount of a Non-Extending Lender’s Available Commitment under Facility A and the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan (the Participation Headroom). 
5.2.6If an Extending Lender has declined or is deemed to have declined:
5.2.6.1its Initial Pro Rata Participation, the Facility Agent shall notify the other Extending Lenders within 2 (two) Business Days of the Replacement Notice End Date and each such other Extending Lender may deliver a further Extension Acceptance Notice within 3 (three) Business Days, pursuant to which it confirms its willingness to assume its pro rata share of that Initial Pro Rata Participation (the Additional Pro Rata Participation). If an Extending Lender has not delivered a further Extension Acceptance Notice on or before such date, it shall be deemed to have declined its Additional Pro Rata Participation; or
5.2.6.2its Additional Pro Rata Participation, any other Extending Lender which has provided its Participation Headroom shall, within 3 (three) Business Days of such event occurring, assume either (i) an amount not exceeding its Participation Headroom or (ii) such other amount (not exceeding the Additional Pro Rata Participation) as notified by the Borrower to the Facility Agent (in the event that more than one Extending Lender has provided its Participation Headroom and such amount exceeds the Additional Pro Rata Participation),
in each case for a purchase price in cash payable at the time of transfer in an amount equal to its pro rata share of the outstanding principal amount of such Additional Pro Rata Participation or Participation Headroom (as applicable) and all accrued interest, Breakage Costs and other amounts payable in relation thereto under the Finance Documents. 
5.2.7If following the procedure set out in Clause 5.2.6 any Non-Extending Lender’s Available Commitment under Facility A and the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan remains available the Borrower may, within 20 (twenty) Business Days (the Replacement Lender Offer Period), replace a Non-Extending Lender by requiring such Lender to (and, to the extent permitted by law, such Lender shall) transfer to:
5.2.7.1a Permitted Transferee; or
5.2.7.2subject to the consent of the Extending Lenders (which consent shall not be unreasonably withheld or delayed), any other bank or financial institution, trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (an Alternative Institution). 
(each such Permitted Transferee or Alternative Institution, an Extending Replacement Lender), for a purchase price in cash payable at the time of transfer in an amount equal to the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loan 
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Term Facility A Agreement_Execution

and all accrued interest, Breakage Costs and other amounts payable in relation thereto under the Finance Documents.
5.2.8If at the end of the Replacement Lender Offer Period, Available Commitment under Facility A and participation in the outstanding Facility A Loan of the Non-Extending Lenders, in an aggregate amount not exceeding USD6,000,000 have not been transferred to an Extending Replacement Lender, the Borrower may, within 2 (two) Business Days after the end of the Replacement Lender Offer Period give the Facility Agent notice of cancellation of the Facility A Commitment of those Non-Extending Lenders and its intention to procure the repayment of those Non-Extending Lender's participation in the Facility A Loan. On receipt of such a notice of cancellation, the Facility A Commitment of those Non-Extending Lenders shall immediately be reduced to zero and the Borrower shall repay those Non-Extending Lenders’ participation in the Facility A Loan by no later than the date falling 3 (three) Business Days prior to the Initial Repayment Date (the Permitted Non-Extending Lender Repayment). 
5.2.9The replacement of a Non-Extending Lender pursuant to Clause 5.2.4 to 5.2.8 shall be subject to the following conditions:
5.2.9.1such transfer shall be effected pursuant to Clause 27 (Changes to the Lenders) of the Common Terms Agreement;
5.2.9.2no Lender shall have any obligation to the Borrower to find an Extending Replacement Lender;
5.2.9.3under no circumstances shall the Non-Extending Lender be required to pay or surrender to such Extending Replacement Lender any of the fees received by such Lender pursuant to the Finance Documents; and 
5.2.9.4the Non-Extending Lender shall only be obliged to transfer its rights and obligations pursuant to Clause 5.2.4 to 5.2.8 once it is satisfied that it has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to that transfer.
5.2.10A Non-Extending Lender shall perform the checks described in Clause 5.2.9.4 as soon as reasonably practicable and shall notify the Facility Agent and the Borrower when it is satisfied that it has complied with those checks.
5.2.11If following the completion of the procedure set out in Clauses 5.2.1 to 5.2.10:
5.2.11.1the Borrower has either received Extension Acceptance Notices from all the Lenders or has replaced all Non-Extending Lenders with an Extending Replacement Lender or has effected a Permitted Non-Extending Lender Repayment, each Lender’s Available Commitments under Facility A and participation in all outstanding Facility A Loans shall be extended to the Extended Repayment Date; or
5.2.11.2the Available Commitment under Facility A and participation in all outstanding Facility A Loans of a Non-Extending Lender have not been transferred to an Extending Replacement Lender or 
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Term Facility A Agreement_Execution

the Borrower has been unable to effect a Permitted Non-Extending Lender Repayment, each Lender’s:
5.2.11.3Available Commitment under Facility A shall be reduced to zero and cancelled; and 
5.2.11.4participation in all outstanding Facility A Loans shall be repaid together with accrued interest and all other amounts outstanding in relation to such participation, 
in each case on the Initial Repayment Date or the First Extended Repayment Date, as the case may be. 
5.2.12The Borrower shall pay to:
5.2.12.1each Extending Lender, a fee computed at the percentage rate equal to 0.15 per cent. of each Extending Lender’s Available Commitment under Facility A and participation in all outstanding Facility A Loans (excluding any Initial Pro Rata Participation, Additional Pro Rata Participation or Participation Headroom). Such fee is payable on the 3rd Business Day after the last date on which the process set out in Clause 5.2.1 to 5.2.10 has been completed; or 
5.2.12.2each Extending Lender that has participated in respect of its Initial Pro Rata Participation, Additional Pro Rata Participation or Participation Headroom (as applicable), a participation fee in the amount and at the times agreed in a Fee Letter; or 
5.2.12.3each Alternative Institution that has become an Extending Replacement Lender, a participation fee in the amount and at the times agreed in a Fee Letter.
6.INTEREST
6.1Calculation of interest
6.1.1The rate of interest on the Facility A Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of:
6.1.1.1the Applicable Margin; and
6.1.1.2the Compounded Reference Rate for that day.
6.3.2If any day during an Interest Period for a Facility A Loan is not an RFR Banking Day, the rate of interest on that Facility A Loan for that day will be the rate applicable to the immediately preceding RFR Banking Day.
6.2Payment of interest
The Borrower shall, subject to clause 13.5 (Default interest) of the Common Terms Agreement, pay accrued interest on the Facility A Loan on each Interest Payment Date. 
6.3Notification of rates of interest
6.3.1The Facility Agent shall promptly upon an Interest Payment being determinable notify:
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Term Facility A Agreement_Execution

6.3.1.1the Borrower of that Interest Payment;
6.3.1.2each relevant Facility A Lender of the proportion of that Interest Payment which relates to that Facility A Lender's participation in the Facility A Loan; and
6.3.1.3the relevant Facility A Lenders and the Borrower of:
6.3.1.3.1each applicable rate of interest relating to the determination of that Interest Payment; and
6.3.1.3.2to the extent it is then determinable, the Market Disruption Rate (if any) relating to the Facility A Loan.
6.3.2Clause 6.3.1 shall not apply to any Interest Payment determined pursuant to Clause 8.3 (Cost of funds).
6.3.3The Facility Agent shall promptly notify the Borrower of each Funding Rate relating to the Facility A Loan.
6.3.4The Facility Agent shall promptly notify the relevant Lenders and the Borrower of the determination of a rate of interest relating to a portion of the Facility A Loan to which Clause 8.3 (Cost of funds) applies.
6.3.5This Clause 6.3 shall not require the Facility Agent to make any notification to any Party on a day which is not a Business Day.
7.INTERESTS PERIODS
7.1Duration of Interest Periods
The Facility A Loan shall have successive Interest Periods of 3 (three) Months commencing in each case on (and including) an Interest Payment Date and ending on (but excluding) the next Interest Payment Date provided that:
7.1.1the first Interest Period in respect of the Facility A Loan shall commence on (and include) the Utilisation Date and end on (and exclude) the first Interest Payment Date thereafter; and
7.1.2the last Interest Period in respect of the Facility A Loan shall commence on (and include) the Interest Payment Date immediately preceding the Final Repayment Date and end on (and exclude) the Final Repayment Date.
7.2Non-Business Days
Any rules specified as "Business Day Conventions" in the Reference Rate Terms shall apply to each Interest Period.
7.3Day count convention and interest calculation
7.3.1Any interest, commission or fee accruing under a Finance Document will accrue from day to day and the amount of any such interest, commission or fee is calculated on the basis of the actual 
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Term Facility A Agreement_Execution

number of days elapsed and a year of 360 days (or, in any case where the practice in the Relevant Market differs, in accordance with that market practice) and subject to clause 7.3.2 below.
7.3.2The aggregate amount of any accrued interest, commission or fee which is, or becomes payable by the Borrower under a Finance Document shall be rounded to 2 (two) decimal places.
8.CHANGES TO THE CALCULATION OF INTEREST
8.1Interest calculation if no RFR or Central Bank Rate
If :
8.1.1there is no applicable RFR or Central Bank Rate for the purposes of calculating the Daily Non-Cumulative Compounded RFR Rate for an RFR Banking Day during an Interest Period for a Facility A Loan; and
8.3.2"Cost of funds will apply as a fallback" is specified in the Reference Rate Terms, then
Clause 8.3 (Cost of funds) shall apply to that Facility A Loan for that Interest Period.
8.2Market disruption
If:
8.2.1a Market Disruption Rate is specified in the Reference Rate Terms; and
8.2.2before the Reporting Time the Facility Agent receives notifications from a Lender (whose participations in a Facility A Loan exceed 35 (thirty-five) per cent. of that Facility A Loan) that its cost of funds relating to the participation in Facility A Loan would be in excess of that Market Disruption Rate,
then Clause 8.3 (Cost of funds) shall apply to the Facility A Loan for the relevant Interest Period.
8.3Cost of funds
8.3.1If this Clause 8.3 (Cost of funds) applies for an Interest Period, Clause 6.1 (Calculation of interest) shall not apply for that Interest Period and the rate of interest for that Interest Period shall be the percentage rate per annum which is the sum of:
8.3.1.1the Applicable Margin; and
8.3.1.2the weighted average of the rates notified to the Facility Agent by each Lender as soon as practicable and in any event by the Reporting Time, to be that which expresses as a percentage rate per annum its cost of funds relating to its participation in the Facility A Loan.
8.3.2If this Clause 8.3 applies and the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than 30 (thirty) days) with a view to agreeing a substitute basis for determining the rate of interest.
- 13 -
Term Facility A Agreement_Execution

8.3.3Any alternative basis agreed pursuant to clause 8.3.2 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
8.3.4If this Clause 8.3 applies pursuant to Clause 8.2 (Market disruption) and:
8.3.4.1a Lender's Funding Rate is less than the Market Disruption Rate; or
8.3.4.2a Lender does not notify a rate to the Facility Agent by the Reporting Time,
that Lender's cost of funds relating to its participation for that Interest Period shall be deemed, for the purposes of Clause 8.3.1 above, to be the Market Disruption Rate.
8.3.5Subject to Clause 8.3.4 above, if this Clause 8.3 applies but any Facility A Lender does not notify a rate to the Facility Agent by the Reporting Time the rate of interest shall be calculated on the basis of the rates notified by the remaining Lenders.
8.3.6If this Clause 8.3 applies the Facility Agent shall, as soon as is practicable, notify the Borrower.
8.4Breakage Costs
8.4.1If an amount is specified as Breakage Costs in the Reference Rate Terms, the Borrower shall, within 3 (three) Business Days of demand by a Finance Party, pay to that Finance Party its Breakage Costs (if any) attributable to all or any part of a Facility A Loan or Unpaid Sum being paid by that Borrower on a day prior to the last day of an Interest Period for that Facility A Loan or Unpaid Sum.
8.4.2Each Facility A Lender shall, as soon as reasonably practicable after a demand by the Facility Agent, provide a certificate confirming the amount of its Breakage Costs for any Interest Period in respect of which they become, or may become, payable.
9.COMMITMENT FEE
9.1The Borrower shall pay to the Facility Agent (for the account of each Facility A Lender) a commitment fee computed at the rate of 35% (thirty five per cent) of the Applicable Margin per annum on the undrawn portion of the Facility A Commitment during the Availability Period and which fee shall accrue on a daily basis.
9.2The accrued commitment fee is payable on the last day of each successive period of 3 (three) Months occurring during the Availability Period and on the last day of the Availability Period. 
9.3Each Facility A Lender shall deliver to the Borrower a VAT invoice in respect of each payment received on account of the commitment fee.
10.CHANGES TO REFERENCE RATES
10.1If an RFR Replacement Event has occurred, any amendment or waiver which relates to providing for the use of a Replacement Reference Rate in place of the RFR and:
10.1.1aligning any provision of any Finance Document to the use of that Replacement Reference Rate;
- 14 -
Term Facility A Agreement_Execution

10.1.2enabling that Replacement Reference Rate to be used for the calculation of interest under this Agreement (including, without limitation, any consequential changes required to enable that Replacement Reference Rate to be used for the purposes of this Agreement);
10.1.3implementing market conventions applicable to that Replacement Reference Rate;
10.1.4providing for appropriate fallback (and market disruption) provisions for that Replacement Reference Rate; or
10.1.5adjusting the pricing to reduce or eliminate, to the extent reasonably practicable, any transfer of economic value from one Party to another as a result of the application of that Replacement Reference Rate (and if any adjustment or method for calculating any adjustment has been formally designated, nominated or recommended by the Relevant Nominating Body, the adjustment shall be determined on the basis of that designation, nomination or recommendation),
may be made with the consent of the Facility Agent (acting on the instructions of the Majority Lenders) and the Borrower.
10.2An amendment or waiver that relates to, or has the effect of, aligning the means of calculation of interest on a Facility A Loan in any currency under this Agreement to any recommendation of a Relevant Nominating Body which:
10.2.1relates to the use of the RFR for that currency on a compounded basis in the international or any relevant domestic syndicated loan markets; and
10.2.2is issued on or after the date of this Agreement,
may be made with the consent of the Facility Agent (acting on the instructions of the Majority Lenders) and the Borrower.
10.3If any Facility A Lender fails to respond to a request for an amendment or waiver described in Clause 10.1 or Clause 10.2 within 15 (fifteen) Business Days (or such longer time period in relation to any request which the Borrower and the Facility Agent may agree) of that request being made:
10.3.1its Facility A Commitment shall not be included for the purpose of calculating the Total Facility A Commitments under Facility A when ascertaining whether any relevant percentage of Total Facility A Commitments has been obtained to approve that request; and
10.3.2its status as a Facility A Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Facility A Lenders has been obtained to approve that request.
10.3.3In this Clause 10:
10.3.3.1Relevant Nominating Body means any applicable central bank, regulator or other supervisory authority or a group of them, or any working group or committee sponsored or chaired by, or constituted at the request of, any of them or the Financial Stability Board;
- 15 -
Term Facility A Agreement_Execution

10.3.3.2Replacement Reference Rate means a reference rate which is:
10.3.3.2.1formally designated, nominated or recommended as the replacement for the RFR by:
10.3.3.2.1.1the administrator of the RFR provided that the market or economic reality that such reference rate measures is the same as that measured by the RFR; or
10.3.3.2.1.2any Relevant Nominating Body,
and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the "Replacement Reference Rate" will be the replacement under Clause 10.3.3.2.1.2 above;
10.3.3.2.2in the opinion of the Majority Lenders and the Borrower, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to the RFR;
10.3.3.2.3in the opinion of the Majority Lenders and the Borrower, an appropriate successor to the RFR;
10.3.3.3RFR Replacement Event means:
10.3.3.3.1the methodology, formula or other means of determining the RFR has, in the opinion of the Majority Lenders and the Borrower, materially changed;
10.3.3.3.2(i) the administrator of the RFR or its supervisor publicly announces that such administrator is insolvent; or (ii) information is published in any order, decree, notice, petition or filing, however described, of or filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body which reasonably confirms that the administrator of the RFR is insolvent, provided that, in each case, at that time, there is no successor administrator to continue to provide the RFR;
10.3.3.3.3the administrator of the RFR publicly announces that it has ceased or will cease, to provide the RFR permanently or indefinitely and, at that time, there is no successor administrator to continue to provide the RFR;
10.3.3.3.4the supervisor of the administrator of the RFR publicly announces that the RFR has been or will be permanently or indefinitely discontinued;
10.3.3.3.5the administrator of the RFR or its supervisor announces that the RFR may no longer be used;
10.3.3.3.6the administrator of the RFR determines that the RFR should be calculated in accordance with its reduced submissions or other contingency or fallback policies or arrangements and either:
10.3.3.3.6.1the circumstance(s) or event(s) leading to such determination are not (in the opinion of the Majority Lenders and the Borrower) temporary; or
- 16 -
Term Facility A Agreement_Execution

10.3.3.3.6.2the RFR is calculated in accordance with any such policy or arrangement for a period no less than the period specified as the "RFR Contingency Period" in the Reference Rate Terms;
10.3.3.3.7in the opinion of the Majority Lenders and the Borrower, the RFR is otherwise no longer appropriate for the purposes of calculating interest under this Agreement.
11.PREPAYMENT
11.1Mandatory Prepayment
The Borrower shall be obliged to mandatorily prepay the Facility A Loan made to it hereunder in accordance with, and subject to the conditions of clause 10 (Prepayment and Cancellation) of the Common Terms Agreement. 
11.2Voluntary Prepayment
The Borrower shall be entitled to voluntarily prepay the whole or a portion of the Facility A Loan made to it hereunder in accordance with, and subject to the conditions of the Common Terms Agreement.
12.CONSEQUENCES OF EVENT OF DEFAULT 
If a notice is delivered pursuant to clause 26.17 (Acceleration) of the Common Terms Agreement, the Borrower shall be obliged, without prejudice to any other rights which the Finance Parties may have pursuant to the Finance Documents or at law, to repay the Facility A Loan made to it hereunder (which shall be immediately due and payable) together with:
12.1accrued but unpaid interest on the Facility A Loan; plus 
12.2Breakage Costs (if any); plus 
12.3accrued but unpaid interest on all Unpaid Sums payable by the Borrower in accordance with clause 13.5 (Default interest) of the Common Terms Agreement from the due date of such Unpaid Sum to its date of payment. 
13.CERTIFICATE OF BREAKAGE COSTS
The Facility Agent shall provide the Borrower with a certificate confirming the amount of any Breakage Costs due and payable by the Borrower in accordance with the provisions of this Agreement, promptly following receipt of a written notice requesting the Facility Agent to do so. Neither the Facility Agent nor any Facility A Lender shall be obliged to set out the calculation of such Breakage Costs in such certificate. 

-SIGNATURE PAGES TO FOLLOW-

- 17 -
Term Facility A Agreement_Execution

BORROWER AND OBLIGORS’ AGENT
SIGNED at Randfontein on this the 25th day of May 2022.
						
		

For and on behalf of
HARMONY GOLD MINING COMPANY LIMITED

/s/Boipelo Lekubo
____________________________
Signatory: Boipelo Pride Lekubo
Capacity:Financial Director
Who warrants authority hereto

/s/Peter William Steenkamp
____________________________
Signatory: Peter William Steenkamp
Capacity: Chief Executive Officer
Who warrants his authority hereto

- 18 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER
SIGNED at UK on this the 25th day of May 2022.
						
		

For and on behalf of
NEDBANK LIMITED, LONDON BRANCH

/s/Diana Hudymac
____________________________
Signatory: Diana Hudymac
Capacity: UK Country Head
Who warrants authority hereto

/s/Christopher Coombs
____________________________
Signatory: Christopher Coombs
Capacity: Head: Oil & Gas Finance
Who warrants authority hereto

- 19 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 25th day of May 2022.
						
		

For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION)

/s/Andrew Sprenger
____________________________
Signatory: Andrew Sprenger
Capacity: Authorised
Who warrants authority hereto

/s/Chetan Jeeva
____________________________
Signatory: Chetan Jeeva
Capacity: Authorised
Who warrants authority hereto

- 20 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 9th  day of May 2022.
						
		For and on behalf of
FIRSTRAND BANK LIMITED (ACTING THROUGH ITS RAND MERCHANT BANK DIVISION)
/s/Julian Grieve
___________________
Signatory: 
Capacity: Authorised Signatory
Who warrants authority
/s/Tshepo Pitse
_______________________
Signatory: 
Capacity: Authorised Signatory
Who warrants authority

- 21 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 25th day of May 2022.
						
		For and on behalf of
CITIBANK, N.A., SOUTH AFRICA BRANCH 
/s/Thomas Lamborn
____________________________
Signatory: Thomas Lamborn,
Head of Corporate Banking SA
Capacity: Authorised Signatory
Who warrants authority

- 22 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 9th day of May 2022.
						
		For and on behalf of
HSBC BANK PLC - JOHANNESBURG BRANCH 
/s/Dean Radbourne
____________________________
Signatory: 
Capacity: Authorised Signatory
Who warrants authority

- 23 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 25th day of May 2022.
						
		For and on behalf of
STATE BANK OF INDIA (ACTING THROUGH ITS JOHANNESBURG BRANCH) 
/s/Ashish Kumar Patnaik
____________________________
Signatory: Ashish Kumar Patnaik
Capacity: Authorised Signatory VICE PRESIDENT, 
SYNDICATIONS
Who warrants authority

- 24 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at London on this the 9th day of May 2022.
						
		For and on behalf of
JPMORGAN CHASE BANK, N.A., LONDON BRANCH
 /s/Daniel Brown
____________________________
Signatory: Daniel Brown, Vice President
Capacity: Authorised Signatory
Who warrants authority

- 25 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Johannesburg on this the 25th day of May 2022.
						
		For and on behalf of
BANK OF CHINA LIMITED, JOHANNESBURG BRANCH 
/s/Greg Cohen
____________________________
Signatory: Greg Cohen - Acting Assistant General Manager
Capacity: Authorised Signatory
Who warrants authority hereto
/s/Lynne Hulme
____________________________
Signatory: Lynne Hulme
Capacity: Authorised Signatory
Who warrants authority hereto

- 26 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at London on this the 25th day of May 2022.
						
		For and on behalf of
GOLDMAN SACHS INTERNATIONAL BANK
 /s/Edwina Stewart
____________________________
Signatory: Edwina Stewart
Capacity: Authorised Signatory

- 27 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Pennsylvania on this the 25th day of May 2022.
						
		For and on behalf of
PROJECT AND TRADE FINANCE CORE FUND 
/s/Christopher P. McGinley
____________________________
Signatory: Christopher P. McGinley, Vice President
Capacity: Authorised Signatory
Who warrants authority hereto

- 28 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Pennsylvania on this the 25th day of May 2022.
						
		For and on behalf of
FEDERATED HERMES PROJECT AND TRADE FINANCE TENDER FUND 
/s/Christopher P. McGinley
____________________________
Signatory: Christopher P. McGinley, Vice President
Capacity: Authorised Signatory
Who warrants authority hereto

- 29 -
Term Facility A Agreement_Execution

ORIGINAL FACILITY A LENDER 
SIGNED at Pennsylvania on this the 25th day of May 2022.
						
		For and on behalf of
FEDERATED HERMES PROJECT AND TRADE FINANCE MASTER FUND 
/s/Christopher P. McGinley
____________________________
Signatory: Christopher P. McGinley, Vice President
Capacity: Authorised Signatory
Who warrants authority hereto

- 30 -
Term Facility A Agreement_Execution

FACILITY AGENT
SIGNED at Johannesburg on this the 25th day of May 2022.
						
		

For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION)

/s/Anna van Rooyen
____________________________
Signatory: Anna van Rooyen
Capacity: Authorised
Who warrants authority hereto

/s/Ameeth Lakhani
____________________________
Signatory: Ameeth Lakhani
Capacity: Authorised
Who warrants authority hereto

- 31 -
Term Facility A Agreement_Execution

SCHEDULE 1
THE ORIGINAL FACILITY A LENDERS
						
	NAME OF ORIGINAL FACILITY A LENDER	FACILITY A COMMITMENT (USD)

	Absa Bank Limited (acting through its Corporate and Investment Banking division)	USD28,000,000
	Nedbank Limited, London Branch	USD17,000,000
	FirstRand Bank Limited (acting through its Rand Merchant Bank division)	USD4,500,000
	State Bank of India (acting through its Johannesburg Branch)	USD8,000,000
	Bank of China Limited, Johannesburg Branch	USD6,000,000
	Citibank N.A, South Africa Branch	USD8,000,000
	JPMorgan Chase Bank, N.A., London Branch	USD8,000,000
	HSBC Bank plc - Johannesburg Branch	USD4,500,000
	Project and Trade Finance Core Fund	USD7,500,000
	Federated Hermes Project and Trade Finance Tender Fund	USD5,500,000
	Federated Hermes Project and Trade Finance Master Fund	USD1,000,000
	Goldman Sachs International Bank	USD2,000,000

- 32 -
Term Facility A Agreement_Execution

SCHEDULE 2
FORM OF UTILISATION REQUEST

From:    [Borrower]

To:    [Facility Agent]

Dated    [●]

Dear Sirs

[Borrower] – [●] Term Facility A Agreement dated [●] (the Agreement)

1.We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request.
2.We wish to borrow a Facility A Loan on the following terms:
Facility to be utilised:    Facility A
Proposed Utilisation Date:    [●] (or, if that is not a Business Day, the next Business Day)
Amount:    USD [●] 
3.We confirm that each condition specified in Clause 3 (Conditions of Utilisations) is satisfied on the date of this Utilisation Request.
4.The proceeds of this Facility A Loan should be credited to [account].
5.This Utilisation Request is irrevocable.

Yours faithfully

.......................................
authorised signatory for
[Borrower]

- 33 -
Term Facility A Agreement_Execution

SCHEDULE 3
TIMETABLES

						
	Delivery of a duly completed Utilisation Request (Clause 4.1 (Delivery of a Utilisation Request)
	as of 11am Johannesburg time on the date which is 5 (five) Business Days prior to the proposed Utilisation Date

	Facility Agent notifies the Lenders of the Facility A Loan in accordance with Clause 4.4 (Lenders' participation)
	as of 11am Johannesburg time on the date which is 3 (three) Business Days prior to the proposed Utilisation Date

- 34 -
Term Facility A Agreement_Execution

SCHEDULE 4
REFERENCE RATE TERMS

									
	CURRENCY:	Dollars.

	Cost of funds as a fallback	Cost of funds will apply as a fallback.
	
	Definitions	

	
	Additional Business Days:	An RFR Banking Day.

	Breakage Costs:	In relation to any payment made on a day other than on the last day of each Interest Period, the amount of all costs, and expenses and/or losses actually incurred by the relevant Finance Party in administering or giving effect to that payment. 

	Business Day Conventions (definition of "Month" and Clause 7.2 (Non-Business Days):
	(a)If any period is expressed to accrue by reference to a Month or any number of Months then, in respect of the last Month of that period:

		(i)subject to paragraph (iii) below, if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day;

		(i)if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month; and

		(i)if an Interest Period begins on the last Business Day of a calendar month, that Interest Period shall end on the last Business Day in the calendar month in which that Interest Period is to end.

		(a)If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not). 

	Central Bank Rate:	(a)The short-term interest rate target set by the US Federal Open Market Committee as published by the Federal Reserve Bank of New York from time to time; or
(a)if that target is not a single figure, the arithmetic mean of:
(i)the upper bound of the short-term interest rate target range set by the US Federal Open Market Committee and published by the Federal Reserve Bank of New York; and
(ii)the lower bound of that target range.

- 35 -
Term Facility A Agreement_Execution

									
	Central Bank Rate Adjustment:	In relation to the Central Bank Rate prevailing at close of business on any RFR Banking Day, the 20 per cent trimmed arithmetic mean (calculated by the Facility Agent (or by any other Finance Party which agrees to do so in place of the Facility Agent)) of the Central Bank Rate Spreads for the five most immediately preceding RFR Banking Days for which SOFR is available.

	Central Bank Rate Spread:	In relation to any RFR Banking Day, the difference expressed as a percentage rate per annum (calculated by the Facility Agent (or by any other Finance Party which agrees to do so in place of the Facility Agent)) between:
(a)the RFR for that RFR Banking Day; and
(b)the Central Bank Rate prevailing at the close of business on that RFR Banking Day.

	Daily Rate:	The "Daily Rate" for any RFR Banking Day is:

	

	(a)the RFR for that RFR Banking Day; or

	

	(a)if the RFR is not available for that RFR Banking Day, the percentage rate per annum which is the aggregate of:
(i)the Central Bank Rate for that RFR Banking Day; and
(ii)the applicable Central Bank Rate Adjustment; or

	

	(a)if paragraph (b) above applies but the Central Bank Rate for that RFR Banking Day is not available, the percentage rate per annum which is the aggregate of:
(i)the most recent Central Bank Rate for a day which is no more than 5 (five) RFR Banking Days before that RFR Banking Day; and
(ii)the applicable Central Bank Rate Adjustment,
rounded, in either case, to four decimal places and if, in either case, the aggregate of that rate is less than zero, the Daily Rate shall be deemed to be such a rate that the aggregate of the Daily Rate is zero. 

	Lookback Period:	5 (five) RFR Banking Days.

	Market Disruption Rate:	The percentage rate per annum which is the aggregate Cumulative Compounded RFR Rate for the Interest Period of the relevant Facility A Loan.

	Relevant Market:	The market for overnight cash borrowing collateralised by US Government securities.

	Reporting Day:	The Business Day which follows the day which is the Lookback Period prior to the last day of the Interest Period.
	
	RFR:	The secured overnight financing rate (SOFR) administered by the Federal Reserve Bank of New York (or any other person which takes over the administration of that rate) published by the Federal Reserve Bank of New York (or any other person which takes over the publication of that rate).

- 36 -
Term Facility A Agreement_Execution

									
	RFR Banking Day:	Any day other than:
(a)a Saturday or Sunday; and
(b)a day on which the Securities Industry and Financial Markets Association (or any successor organisation) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in US Government securities.
	
	RFR Contingency Period
	30 (thirty) Business Days
	
	Interest Periods
	3 (three) months
	

						
	Reporting Times
	

	Deadline for Lenders to report market disruption in accordance with Clause 8.2 (Market Disruption)
	Close of business in Johannesburg on the Reporting Day for the relevant Facility A Loan.

	Deadline for Lenders to report their cost of funds in accordance with Clause 8.3 (Costs of Funds)
	Close of business on the date falling 2 (two) Business Days after the Reporting Day for the relevant Facility A Loan (or, if earlier, on the date falling 2 (two) Business Days before the date on which interest is due to be paid in respect of the Interest Period for that Facility A Loan).

- 37 -
Term Facility A Agreement_Execution

SCHEDULE 5
DAILY NON-CUMULATIVE COMPOUNDED RFR RATE
The Daily Non-Cumulative Compounded RFR Rate for any RFR Banking Day “i” during an Interest Period for a Facility A Loan is the percentage rate per annum (without rounding, to the extent reasonably practicable for the Finance Party performing the calculation, taking into account the capabilities of any software used for that purpose) calculated as set out below:

where:
UCCDRi means the Unannualised Cumulative Compounded Daily Rate for that RFR Banking Day "i";
UCCDRi-1 means, in relation to that RFR Banking Day "i", the Unannualised Cumulative Compounded Daily Rate for the immediately preceding RFR Banking Day (if any) during that Interest Period;
dcc means 360 or, in any case where market practice in the Relevant Market is to use a different number for quoting the number of days in a year, that number;
ni means the number of calendar days from, and including, that RFR Banking Day "i" up to, but excluding, the following RFR Banking Day; and
the Unannualised Cumulative Compounded Daily Rate for any RFR Banking Day (the Cumulated RFR Banking Day) during that Interest Period is the result of the below calculation (without rounding, to the extent reasonably practicable for the Finance Party performing the calculation, taking into account the capabilities of any software used for that purpose):

where:
ACCDR means the Annualised Cumulative Compounded Daily Rate for that Cumulated RFR Banking Day;
tni means the number of calendar days from, and including, the first day of the Cumulation Period to, but excluding, the RFR Banking Day which immediately follows the last day of the Cumulation Period;
Cumulation Period means the period from, and including, the first RFR Banking Day of that Interest Period to, and including, that Cumulated RFR Banking Day;
dcc has the meaning given to that term above; and
the Annualised Cumulative Compounded Daily Rate for that Cumulated RFR Banking Day is the percentage rate per annum (rounded to four decimal places in respect of a Facility A Loan in dollars) calculated as set out below:
- 38 -
Term Facility A Agreement_Execution

where:
d0 means the number of RFR Banking Days in the Cumulation Period; 
Cumulation Period has the meaning given to that term above;
i means a series of whole numbers from one to d0, each representing the relevant RFR Banking Day in chronological order in the Cumulation Period;
DailyRatei-LP means, for any RFR Banking Day "i" in the Cumulation Period, the Daily Rate for the RFR Banking Day which is the applicable Lookback Period prior to that RFR Banking Day "i";
ni means, for any RFR Banking Day "i" in the Cumulation Period, the number of calendar days from, and including, that RFR Banking Day "i" up to, but excluding, the following RFR Banking Day;
dcc has the meaning given to that term above; and
tni has the meaning given to that term above.

- 39 -
Term Facility A Agreement_Execution

SCHEDULE 6
CUMULATIVE COMPOUNDED RFR RATE
The Cumulative Compounded RFR Rate for any Interest Period for a Facility A Loan is the percentage rate per annum (rounded to the same number of decimal places as is specified in the definition of Annualised Cumulative Compounded Daily Rate in Schedule 5 (Daily Non-Cumulative Compounded RFR Rate))) calculated as set out below:

 
where:
d0 means the number of RFR Banking Days during the Interest Period;
i means a series of whole numbers from one to d0, each representing the relevant RFR Banking Day in chronological order during the Interest Period;
DailyRatei-LP means for any RFR Banking Day "i" during the Interest Period, the Daily Rate for the RFR Banking Day which is the applicable Lookback Period prior to that RFR Banking Day "i";
ni means, for any RFR Banking Day "i", the number of calendar days from, and including, that RFR Banking Day "i" up to, but excluding, the following RFR Banking Day;
dcc means 360 or, in any case where market practice in the Relevant Market is to use a different number for quoting the number of days in a year, that number; and
d means the number of calendar days during that Interest Period.

- 40 -
Term Facility A Agreement_Execution

SCHEDULE 7
FORM OF EXTENSION DOCUMENTS
PART 1
FORM OF EXTENSION REQUEST

To:     [●] as Facility Agent 
From:    [Borrower]
Dated:    [        ]
Dear Sirs,
[Borrower] – [●] Term Facility A Agreement dated [●] (the Agreement)

1.We refer to Clause 5.2 (Extension option) of the Agreement. This is an Extension Request. Terms defined in the Agreement have the same meaning in this notice unless given a different meaning in this notice. 
2.Pursuant to Clause 5.2 (Extension option) of the Agreement, we request that the [Initial Repayment Date/First Extended Repayment Date] be extended for a further period of 1 (one) year. 
3.We confirm that no Default is continuing and the Repeating Representations are true in all material respects.
4.This Extension Request is irrevocable. 
5.This notice and any non-contractual obligations arising out of or in connection with it are governed by South African law.

Yours faithfully

Signed: ...............................................            ...............................................
Authorised Signatory                Authorised Signatory
of                        of
[Borrower]                    [Borrower]

 Term Facility A Agreement_Execution

PART 2
FORM OF EXTENSION ACCEPTANCE NOTICE

To:     [●] as Facility Agent
And to:    [Borrower]
Dated:    [        ]
Dear Sirs,
[Borrower] – [●] Facility Agreement dated [●] (the Agreement)

1.We refer to [Clause 5.2.3 (Extension option)]. This is an Extension Acceptance Notice. Terms defined in the Agreement have the same meaning in this notice unless given a different meaning in this notice.
2.We hereby [accept the extensions offered to the Extending Lenders pursuant to Clause 5.2 (Extension option)] or [confirm that we intend to accept the extension in relation to our [Initial Pro Rata Participation/Additional Pro Rata Participation] of the Agreement].
3.We hereby confirm that in addition to our Initial Pro Rata Participation, we would be willing to assume up to [ USD [●] ] Non-Extending Lender’s Available Commitments and the outstanding principal amount of such Non-Extending Lender's participation in the outstanding Facility A Loans.]
4.This notice and any non-contractual obligations arising out of or in connection with it are governed by South African law.
Yours faithfully

Signed: ...............................................            ...............................................
    Authorised Signatory                Authorised Signatory
    of                        of
    [Lender]                    [Lender]

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Term Facility A Agreement_ExecutionDocument

Execution Version
			
	

TERM FACILITY B AGREEMENT
			
	

for

HARMONY GOLD MINING COMPANY LIMITED
(as Borrower and Obligors’ Agent)

with
THE FINANCIAL INSTITUTIONS LISTED IN SCHEDULE 1

NEDBANK LIMITED
(acting through its Nedbank Corporate and Investment Banking division)
(as Sustainability Coordinator)

and

ABSA BANK LIMITED
(acting through its Corporate and Investment Banking division)
(as Sustainability Agent, Sustainability Coordinator and Facility Agent)

CONTENTS
						
	1.    DEFINITIONS AND INTERPRETATION	2
	2.    FACILITY B LOAN	9
	3.    CONDITIONS OF UTILISATION	9
	4.    UTILISATION	10
	5.    INTEREST	11
	6.    INTEREST PERIODS	12
	7.    COMMITMENT FEE	14
	8.    REPAYMENT OF FACILITY B LOAN	14
	9.    PREPAYMENT	14
	10.    REPRESENTATIONS FOR GREEN LOAN	14
	11.    GREEN LOAN UNDERTAKINGS	15
	12.    GREEN INFORMATION UNDERTAKINGS	16
	13.    COMPLIANCE WITH GREEN LOAN PRINCIPLES	16
	14.    CONSEQUENCES OF EVENT OF DEFAULT	18
	SCHEDULE 1 THE ORIGINAL FACILITY B LENDERS	33
	SCHEDULE 2 FORM OF UTILISATION REQUEST	34
	SCHEDULE 3 GREEN LOAN FRAMEWORK	35
	SCHEDULE 4 ALLOCATION AND IMPACT REPORT	38
	SCHEDULE 5 CONFIRMATION OF AUTHORISATIONS CERTIFICATE	40

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PARTIES:
This Agreement is made between:
(1)Harmony Gold Mining Company Limited, a company registered in accordance with the laws of South Africa under registration number 1950/038232/06, as borrower and agent on behalf of the Obligors (the Borrower and the Obligors’ Agent);
(2)The financial institutions listed in Schedule 1 as original lenders (the Original Facility B Lenders); 
(3)Absa Bank Limited (acting through its Corporate and Investment Banking division), a public company duly incorporated in accordance with the laws of South Africa under registration number 1986/004794/06, as sustainability agent (Sustainability Agent);
(4)Absa Bank Limited (acting through its Corporate and Investment Banking division), a public company duly incorporated in accordance with the laws of South Africa under registration number 1986/004794/06, as sustainability coordinator (Sustainability Coordinator);
(5)Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division), a public company duly incorporated in accordance with the laws of South Africa under registration number 1951/000009/06, as sustainability coordinator (Sustainability Coordinator); and
(6)Absa Bank Limited (acting through its Corporate and Investment Banking division), a public company duly incorporated in accordance with the laws of South Africa under registration number 1986/004794/06, as facility agent (Facility Agent).
IT IS AGREED AS FOLLOWS:
1.DEFINITIONS AND INTERPRETATION
1.1Definitions
In this Agreement, unless the context dictates otherwise, the words and expressions set forth below shall bear the following meanings and cognate expressions shall bear corresponding meanings:
1.1.1Agreement means this Term Facility B Agreement and its Schedules as read with the Common Terms Agreement; 
1.1.2Allocation and Impact Report means the allocation and impact report described in paragraph 4 of Schedule 3 (Green Loan Framework) and in substantially similar format to Schedule 4 (Allocation and Impact Report);
1.1.3Applicable Margin means, in respect of any Interest Period: 
1.1.3.12,65% (two point six five per cent); plus
1.1.3.2if an Event of Default has occurred and whilst it is continuing, 2% (two percent);
1.1.4Available Commitment means, in relation to Facility B, the Maximum Commitment Limits in respect of a Facility B Lender’s Commitment as the date of the proposed Utilisation, minus:

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Term Facility B Agreement_ Execution

1.1.4.1the amount of its participation in any outstanding Loans under Facility B; and
1.1.4.2in relation to any proposed Utilisation under Facility B, the amount of its participation in any Loans that are due to be made under Facility B on or before the proposed Utilisation Date,
other than any Loans that are due to be repaid or prepaid on or before the proposed Utilisation Date under Facility B;
1.1.5Availability Period means the period commencing on the date of Financial Close and ending on the earlier of:
1.1.5.1the date that the Available Facility is cancelled in full in accordance with the provisions of the Common Terms Agreement; and
1.1.5.2the date falling 18 (eighteen) Months after the date of Financial Close;
1.1.6Base Rate means, subject to Clause 6.1.2, JIBAR or where it is not possible to determine JIBAR on any Reset Date, the SAR-JIBAR Reference Rate, in either case converted to a NACQ rate;
1.1.7Capital Projects Authorising Parties means the persons required to approve the creation of a new cost code for a capital project, including an Eligible Green Project, being:
1.1.7.1where the capital investment for that Eligible Green Project is less than ZAR10,000,000 (ten million Rand), the Financial Manager of the mine to which the Eligible Green Project relates, the General Manager of the mine to which the Eligible Green Project relates, the Senior Engineering Officer, the Chief Financial Officer of the Borrower (the South African operations) and the Chief Operating Officer of the Borrower; and
1.1.7.2where the capital investment for that Eligible Green Project is equal to or greater than ZAR10,000,000 (ten million Rand), the persons mentioned in Clause 1.1.7.1 and the Financial Director and Chief Executive Officer of the Borrower,
provided that any changes to the roles comprising this committee and described above will be subject to the prior written consent of the Sustainability Agent (acting on the instructions of the Majority Lenders);
1.1.8CDP means CDP (www.cdp.net), a company limited by guarantee registered in England with number 05013650 and as a charity with number 1122330, and which runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts;
1.1.9Common Terms Agreement means the written agreement titled "Common Terms Agreement" concluded or to be concluded among the Borrower, African Rainbow Minerals Gold Limited, Freegold (Harmony) Proprietary Limited, Randfontein Estates Limited, Avgold Limited, Harmony Copper Limited, Harmony Moab Khotsong Operations Proprietary Limited, Golden Core Trade and Invest Proprietary Limited, Morobe Consolidated Goldfields Limited, Wafi Mining Limited, Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division) (in its capacity as the Global Coordinator and Bookrunner, Original Lender, Original Hedge Provider; and the Sustainability Coordinator), Absa Bank Limited (acting through its Corporate and Investment Banking division) (in its capacity as the Global Coordinator and Bookrunner, Original Lender, 
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Term Facility B Agreement_ Execution

Original Hedge Provider, Facility Agent, the Sustainability Agent and the Sustainability   Coordinator) on or about the Signature Date; 

1.1.10Declassification Date means the date described in Clause 13.3.1 below;
1.1.11Eligible Green Projects means the investments described in paragraph 1 of Schedule 3 (Green Loan Framework);
1.1.12Eligibility Criteria means the Borrower’s established process of project evaluation and selection eligibility criteria as stated in the Green Loan Framework in adherence to the Green Loan Principles;
1.1.13Environmental Assessment Practitioner means a consultant licensed to practice in South Africa with the Environmental Assessment Practitioners Association of South Africa (or its replacement organisation from time to time), acceptable to the Sustainability Coordinators and the Sustainability Agent, who conducts an environmental impact process including looking at alternatives, consulting the public (public participation), assessing the impact of the proposed project on the receiving environment;
1.1.14Environmental Authorisation Letter means an environmental authorisation letter issued by the applicable Governmental Authority in terms of the National Environmental Management Act, 1998;
1.1.15Environmental Impact Assessment means an assessment conducted by an Environmental Assessment Practitioner detailing the social, economic and environmental risks and impacts of an Eligible Green Project;
1.1.16Facility B means the facility described in Clause 2 (Facility B) of this Agreement;
1.1.17Facility B Loan means a loan made or to be made under Facility B or (as the context may require) the principal amount outstanding for the time being of that loan;
1.1.18Final Repayment Date means the earlier of: 
1.1.18.1the date falling 6 (six) years and 6 (six) Months after the date of Financial Close; or
1.1.18.2such earlier date(s) upon which the Facility B Outstandings become repayable by the Borrower pursuant to the provisions of this Agreement;
1.1.19Green Facility means the term loan facility made available under this Agreement as described in Clause 2 (Facility B Loan) for the purposes of financing Eligible Green Projects adhering to the Green Loan Principles and that has not been declassified as such by the Facility B Lenders pursuant to Clause 13.2 (Declassification Events);
1.1.20Green Costs Report means a report generated on a monthly basis by the Borrower in a form satisfactory to the Facility B Lenders which indicates the costs incurred to date by the Borrower relating to the construction, development, acquisition, maintenance and/or operation of the Eligible Green Projects;
1.1.21Green Costs Certificate means a certificate in a form satisfactory to the Facility B Lenders in which the Executive Head: Treasury, the Executive Head of Sustainable Development and the Executive 
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Term Facility B Agreement_ Execution

Head of Engineering of the Borrower represents that the proposed Utilisation will be used exclusively to reimburse the Borrower for expenditure relating to the applicable Eligible Green Projects, as set out in the Green Costs Report to which the proposed Utilisation relates;
1.1.22Green Loan means a loan that is made or to be made under the Green Facility or the principal amount outstanding for the time being of that loan; 
1.1.23Green Loan Confirmation Committee means the committee of the Borrower which is responsible for managing and overseeing the requirements of the Green Loan Framework and comprises:
1.1.23.1the Executive Head: Treasury, being as at the Signature Date, Herman Perry;
1.1.23.2the Executive for Sustainable Development, being as at the Signature Date, Melanie Naidoo-Vermaak; and
1.1.23.3the Executive Head of Technical and Engineering, being as at the Signature Date, Siphamandla Mthethwa;
1.1.24Green Loan Framework means the green framework prepared by the Borrower and agreed by the Sustainability Coordinator and Sustainability Agent (acting on the instructions of the Facility B Lenders) describing the Eligible Green Projects by reference to the Green Loan Principles, as set out in Schedule 3 (Green Loan Framework);
1.1.25Greenhouse Gases (GHGs) means the natural and anthropogenic gases which trap thermal radiation in the earth’s atmosphere and are specified in Annex A to the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) or otherwise specified by the UNFCCC at the date of this Agreement, as may be amended from time to time, which include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6), and nitrogen trifluoride (NF3);
1.1.26Greenhouse Gas (GHG) Emissions means emissions of GHGs from all sources, categorised as scope 1, 2 and 3 emissions by The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, Revised Edition 2015 as updated from time to time;
1.1.27Interest Payment Date means the last day of each Interest Period;
1.1.28Interest Periods means, in relation to each Facility B Loan, each period determined in accordance with Clause 6 (Interest Periods) of this Agreement and, in relation to an Unpaid Sum, each period determined in accordance with Clause 13.5 (Default interest) of the Common Terms Agreement;
1.1.29JIBAR means, in relation to any Interest Period, the rate for the period which most closely approximates such Interest Period which appears on the Reuters Screen SAFEY Page as at 11 am Johannesburg time on the first day of such Interest Period;
1.1.30JIBAR Replacement Event means:
1.1.30.1the methodology, formula or other means of determining JIBAR has, in the opinion of the Facility Agent, materially changed;
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Term Facility B Agreement_ Execution

1.1.30.2the administrator of JIBAR publicly announces that it has ceased or will cease, to provide the Base Rate permanently or indefinitely and, at that time, there is no successor administrator to continue to provide JIBAR;
1.1.30.3the administrator of JIBAR or its supervisor publicly announces that JIBAR has been or will be permanently or indefinitely discontinued;
1.1.30.4the administrator of JIBAR or its supervisor announces that JIBAR may no longer be used; or
1.1.30.5in the opinion of the Facility Agent (acting on behalf of the Facility B Lenders) and the Obligors’ Agent, JIBAR is otherwise no longer appropriate for the purposes of calculating interest under this Agreement;
1.1.31Majority Lenders means:
1.1.31.1if there are no Facility B Loans then outstanding, a Facility B Lender or Facility B Lenders whose Facility B Commitments aggregate at least 66,67% (sixty-six point six seven per cent) of the Total Facility B Commitments (or, if the Total Facility B Commitments have been reduced to zero, aggregated at least 66,67% (sixty six point six seven per cent) of the Total Facility B Commitments immediately prior to the reduction; and 
1.1.31.2at any other time, a Facility B Lender or Facility B Lenders whose participations in the Facility B Loans then outstanding aggregate at least 66,67% (sixty-six point six seven per cent) of all the Facility B Loans then outstanding;
1.1.32Maximum Commitment Limits means the maximum aggregate Commitments of the Facility B Lenders determined with reference to the amounts and periods set out in the table below:
						
	Period during which a Utilisation Date Occurs	Maximum Commitment Limits (ZAR)
	Period One	0
	Period Two	in respect of each Facility B Lender its Pro Rata Share of ZAR375,000,000
	Period Three	in respect of each Facility B Lender its Pro Rata Share of ZAR750,000,000
	Period Four	in respect of each Facility B Lender its Pro Rata Share of ZAR1,125,000,000
	Period Five	in respect of each Facility B Lender its Pro Rata Share of ZAR1,500,000,000

1.1.33NACQ means nominal annual compounded quarterly in arrears;
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Term Facility B Agreement_ Execution

1.1.34Parties means:
1.1.34.1the Borrower; 
1.1.34.2the Facility B Lenders; 
1.1.34.3the Sustainability Agent; 
1.1.34.4the Sustainability Coordinators; and
1.1.34.5the Facility Agent,
and Party means, as the context requires, any one of them;
1.1.35Periods means Period One, Period Two, Period Three, Period Four and Period Five, and Period means, as the context requires, any one of them;
1.1.36Period One means the period commencing on Financial Close and ending on the date which is 6 (six) Months calculated from Financial Close;
1.1.37Period Two means the period commencing on the day immediately following the expiry of Period One and ending on the date which is 3 (three) Months calculated from the expiry of Period One;
1.1.38Period Three means the period commencing on the day immediately following the expiry of Period Two and ending on the date which is 3 (three) Months calculated from the expiry of Period Two;
1.1.39Period Four means the period commencing on the day immediately following the expiry of Period Three and ending on the date which is 3 (three) Months calculated from the expiry of Period Three;
1.1.40Period Five means the period commencing on the day immediately following the expiry of Period Four and ending on the expiry of the Availability Period contemplated in Clause 1.1.5.2;
1.1.41Pro Rata Share means in respect of each Facility B Lender, a share (expressed as a percentage) determined in accordance with the following formula:
A = B ÷ C x 100
where: 
A means Pro Rata Share;
B means the Facility B Commitment of the applicable Facility B Lender as contemplated in Schedule 1 (The Original Facility B Lenders ); and
C means the Total Facility B Commitments,
1.1.42Relevant Nominating Body means the South African Reserve Bank, or any other replacement regulator or other supervisory authority or a group of them, or any working group or committee sponsored or chaired by, or constituted at the request of, any of them;

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Term Facility B Agreement_ Execution

1.1.43Repayment Amount means an amount equal to one tenth of the aggregate of all Facility B Loans advanced during the Availability Period such that following the payment of all such amounts, the amount outstanding in respect of all Facility B Loans amortizes to zero on the Final Repayment Date;
1.1.44Repayment Date means the last day of the Repayment Holiday and thereafter, the last day of each consecutive period of 6 (six) Months falling thereafter;
1.1.45Repayment Holiday means the period from and including the date of Financial Close to the date falling 2 (two) years thereafter;
1.1.46Replacement Benchmark means a benchmark rate which is:
1.1.46.1formally designated, nominated or recommended as the replacement for JIBAR by:
1.1.46.1.1the administrator of JIBAR (provided that the market or economic reality that such benchmark rate measures is the same as that measured by JIBAR); or
1.1.46.1.2any Relevant Nominating Body,
and if replacements have, at the relevant time, been formally designated, nominated or recommended under both paragraphs, the Replacement Benchmark will be the replacement under Clause 1.1.46.1.2 above;
1.1.46.2in the opinion of the Facility Agent (acting on behalf of the Facility B Lenders) and the Obligors’ Agent, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to JIBAR; or
1.1.46.3an appropriate successor to JIBAR, as chosen by the Facility Agent (acting on behalf of the Facility B Lenders) and agreed to by the Obligors’ Agent in writing;
1.1.47Reset Date means the first day of each applicable Interest Period, being the date in each case upon which the Base Rate is to be determined for such Interest Period;
1.1.48SAR-JIBAR-Reference Rate means the mid-market rate between deposits and loans in Rand for an Interest Period quoted by the Reference Banks at approximately 11 am Johannesburg time on the relevant Reset Date. The Facility Agent will request the principal Johannesburg office of each of the Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate for that Reset Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided, the rate for that Reset Date will be determined by the Facility Agent, acting in a commercially reasonable manner, using a representative rate;
1.1.49Science Based Targets means the Borrower’s target to reduce its Greenhouse Gas Emissions in line with latest climate science as validated and published by the Science Based Targets Initiative;
1.1.50Science Based Targets Initiative or SBTi means the collaboration between the CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature to define best practice and provide technical support to companies in respect of emissions reductions and net zero targets in line with climate science; 
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Term Facility B Agreement_ Execution

1.1.51Signature Date means the date of the signature of the Party last signing this Agreement in time; 
1.1.52Term means the period commencing on the first Utilisation Date and ending on the Final Maturity Date;
1.1.53Utilisation Date means the date of each Facility B Loan, being the date on which a Facility B Loan is to be made; and
1.1.54Utilisation Request means a notice substantially in the form set out in Schedule 2 (Form of Utilisation Request).
1.2Common Terms Agreement
1.2.1Terms used (but not otherwise defined) in this Agreement have the meaning given to them in the Common Terms Agreement.
1.2.2The provisions of clause 1.2 (Interpretation and Construction) of the Common Terms Agreement apply to this Agreement as if set out in this Agreement in full.
1.2.3This Agreement and the rights and obligations of the Parties shall in all respects be subject to, and governed by, the terms and conditions of the Common Terms Agreement. In the event of any conflict between the provisions of this Agreement and the provisions of the Common Terms Agreement, the provisions of this Agreement shall prevail.

2.FACILITY B LOAN
2.1Subject to the terms and conditions of this Agreement and the Common Terms Agreement, the Facility B Lenders agree to make available to the Borrower a senior unsecured ZAR green use of proceeds amortising term loan facility in an aggregate principal amount not exceeding the Total Facility B Commitments. 
2.2The Borrower shall apply all amounts borrowed by it under the Green Facility for the purpose set out in paragraph 1 (Use of Proceeds) of the Green Loan Framework. 

3CONDITIONS OF UTILISATION
3.1.The obligation of the Facility B Lenders to lend, and the right of the Borrower to borrow, any Facility B Loan under this Agreement is subject to: 
3.1.1the fulfilment or waiver (to the extent applicable) of all of the conditions set out in clause 8.1 (Initial Conditions Precedent) and clause 8.3 (Further Conditions Precedent) of the Common Terms Agreement; 
3.1.2confirmation in writing in the form set out in Schedule 5 (Form of Confirmation) that all regulatory approvals, Environmental Permits and Authorisations required at the date of this confirmation have been obtained for the Eligible Green Projects to which the proposed Utilisation relates; and
3.1.3the receipt by the Sustainability Agent (in form and substance acceptable to it (acting on the instructions of the Majority Lenders)) of the: 
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3.1.3.1regulatory approvals, Environmental Permits and Authorisations including the Environmental Authorisation Letter, relating to the proposed Utilisation, as described in clause 3.1.2 above; and
3.1.3.2Environmental Impact Assessment to which the proposed Utilisation relates; and
3.1.4no Declassification Date having occurred.
3.2Satisfaction of any of the conditions set out in Clause 3.1 above may be waived or deferred by the Facility Agent with the prior approval of each Facility B Lender.

4.UTILISATION
4.1Delivery of the Utilisation Request
The Borrower may utilise Facility B by delivery to the Facility Agent of a duly completed Utilisation Request not later than 11am not less than 5 (five) Business Days prior to the proposed Utilisation Date.
4.2Completion of the Utilisation Request 
4.2.1Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:
4.2.1.1the proposed Utilisation Date is a Business Day within the Availability Period;
4.2.1.2the currency and amount of the Utilisation complies with Clause 4.3 (Currency and amount); 
4.2.1.3it specifies a bank account in South Africa to which the Borrower wishes the proceeds of the relevant Facility B Loan to be credited; and
4.2.1.4it is accompanied by a duly executed Green Costs Certificate, and a Green Costs Report which relates to the proposed Utilisation.
4.2.2Only one Facility B Loan may be requested in each Utilisation Request.
4.2.3The Borrower may not deliver a Utilisation Request if there are Utilisations yet to be made in terms of any Utilisation Requests delivered prior to such Utilisation Request. 
4.2.4Only one Utilisation Request may be delivered in respect of Facility B during each month of the Availability Period.
4.3Currency and amount
4.3.1The currency specified in a Utilisation Request must be ZAR.
4.3.2The amount of the proposed Facility B Loan must be an amount which is equal to the amount set out in the Green Costs Report, provided that such amount is not more than the Available Facility and which is a minimum of ZAR50,000,000 (fifty million Rand) or, if less, the Available Facility. For the avoidance of doubt, at any point in time, the cumulative total of all Utilisations of Facility B shall be an amount not exceeding the total cumulative amount spent on Eligible Green Projects as set out in the Green Costs Report.
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Term Facility B Agreement_ Execution

4.4Term Facility B Lenders' participation
4.4.1If the conditions set out in this Agreement have been met, and subject to Clause 3 (Conditions of Utilisation) each Facility B Lender shall pay its participation in each Facility B Loan to the Facility Agent by the applicable Utilisation Date from its Facility Office.
4.4.2The amount of each Facility B Lender's participation in each Facility B Loan will be equal to the proportion borne by its Available Commitment to the Available Facility immediately prior to making such Facility B Loan.
4.5Cancellation of Commitment 
The Facility B Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period and each Facility B Lender’s Available Commitment under Facility B shall reduce to zero.

5.INTEREST
5.1Calculation of interest
The rate of interest on each Facility B Loan for each Interest Period is the percentage rate per annum which is the aggregate of:
5.1.1the Applicable Margin; and
5.1.2the Base Rate.
5.2Payment of interest
5.2.1The Borrower shall pay accrued interest on each Facility B Loan on the last day of each Interest Period.
5.2.2The Borrower shall, subject to clause 13.5 (Default interest) of the Common Terms Agreement, pay accrued interest on each Facility B Loan on each Interest Payment Date.
5.3Absence of quotations
Subject to Clause 5.4 (Market Disruption), if the Base Rate is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by 11am (Johannesburg time) on the Reset Date, the Base Rate shall be determined on the basis of the quotations of the remaining Reference Banks.
5.4Market Disruption
If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each Facility B Lender's share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of:
5.4.1the Applicable Margin; and
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5.4.1.1the rate notified to the Facility Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source it may reasonably select.
5.4.1.2In this Agreement, Market Disruption Event means:
5.4.1.2.1at or about noon on the Reset Date for the relevant Interest Period the SAR-JIBAR-Reference Rate is not available and none or only one of the Reference Banks supplies a rate to the Facility Agent to determine JIBAR for the relevant Interest Period; or
5.4.1.2.2before close of business in Johannesburg on the Reset Date for the relevant Interest Period, the Facility Agent receives notifications from a Facility B Lender or Lenders (whose participations in that Loan exceed 35 (thirty-five) per cent.) that the cost to it or them of funding its or their participation in that Loan from whatever source it or they may reasonably select would be in excess of JIBAR for the relevant Interest Period.
5.5Alternative basis of interest or funding
5.5.1If a Market Disruption Event occurs and the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than 30 (thirty) days) with a view to agreeing a substitute basis for determining the rate of interest, failing which the provisions of Clause 5.4 (Market Disruption) shall continue to apply.
5.5.2Any alternative basis agreed pursuant to Clause 5.5.1 shall, with the prior consent of all the Facility B Lenders and the Obligors’ Agent, be binding on all Parties.
5.6Replacement of JIBAR
5.6.1If a JIBAR Replacement Event has occurred, any amendment or waiver which relates to providing for the use of a Replacement Benchmark in addition to or as substitute for JIBAR (or which relates to aligning any provision of a Finance Document to the use of that Replacement Benchmark) may be made with the prior written consent of the Facility Agent (on behalf of the Facility B Lenders) and the Obligors’ Agent.
5.6.2If, upon the occurrence of a JIBAR Replacement Event, this Agreement provides that the rate of interest for a Loan in Rand is to be determined by reference to JIBAR, the Facility Agent and the Obligors’ Agent shall enter into negotiations in good faith with a view to agreeing the use of a Replacement Benchmark in place of JIBAR.
6.INTEREST PERIODS 
6.1Duration of Interest Periods 
6.1.1Each Interest Period for a Facility B Loan shall be 3 (three) Months.
6.1.2An Interest Period for a Loan shall not extend beyond the Final Repayment Date. If an Interest Period for a Loan would, but for this Clause 6.1.2, be less than 3 (three) Months (such Interest Period,

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     a Broken Period), then for that Broken Period the Base Rate shall be determined in accordance with the following formula:
R = r1+ (t-t1) x (r2-r1) / (t2-t1)
where:
						
	r     =	the Base Rate to be determined;
	r1    =	JIBAR or where it is not possible to determine JIBAR on any Reset Date, SAR-JIBAR-Reference Rate, in either case converted to a nominal annual compounded quarterly/semi-annually (as applicable) in arrear rate, for the period closest to but less than that Broken Period plus, if this would result in r1 being equal to the SAFEX Overnight Deposit Rate, 0.01 % (zero point zero one per cent);
	r2     =	JIBAR or where it is not possible to determine JIBAR on any Reset Date, SAR-JIBAR-Reference Rate, in either case converted to a nominal annual compounded quarterly/semi-annually (as applicable) in arrear rate, for the period closest to but greater than that Broken Period;
	t1    =	the number of days applicable to the period for which r1 is quoted on the first day of that Broken Period;
	t2    =	the number of days applicable to the period for which r2 is quoted on the first day of that Broken Period; and
	t     =	the number of days in that Broken Period.

6.1.3Each Interest Period for a Loan shall start on the relevant Utilisation Date.
6.2Non-Business Days
If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not). 
6.3Day Count Convention
Any interest on a Loan will accrue from day to day and will be calculated inclusive of the first day but exclusive of the last day of the applicable Interest Period on the basis of the actual number of days elapsed and a year of 365 days (irrespective of whether the year is a leap year) or, in any case where the practice in the Johannesburg interbank market differs, in accordance with that market practice.
6.4Consolidation of Facility B Loans
If two or more Interest Periods:
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Term Facility B Agreement_ Execution

6.4.1relate to a Facility B Loan made to the Borrower; and
6.4.2end on the same date,
those Facility B Loans will, be consolidated into, and treated as, a single Facility B Loan on the last day of the Interest Period, provided that all Facility B Loans advanced during the Availability Period will, be consolidated into, and treated as, a single Facility B Loan on the last day of the Availability Period.
7.COMMITMENT FEE
7.1.The Borrower shall pay to the Facility Agent (for the account of each Facility B Lender) a commitment fee computed at the rate of 35% (thirty-five per cent) of the Applicable Margin per annum on the undrawn portion of the applicable Maximum Commitment Limits in respect of each Period and which fees shall accrue on a daily basis.
7.2.An accrued commitment fee is payable on the last day of each successive period of 3 (three) Months occurring during the Availability Period and on the last day of the Availability Period. 
7.3.Each Facility B Lender shall deliver to the Borrower a VAT invoice in respect of each payment received on account of the commitment fee.
8.REPAYMENT OF FACILITY B LOAN
8.1The Borrower shall repay the Facility B Loans by paying an amount equal to each Repayment Amount in full on each Repayment Date.
8.2The Borrower shall repay all Loans outstanding under Facility B (including accrued and unpaid interest thereon) in full by no later than the Final Repayment Date.
8.3The Borrower may not reborrow any part of the Facility B which is repaid.
9.PREPAYMENT
9.1Mandatory Prepayment
The Borrower shall be obliged to mandatorily prepay the Facility B Loans made to it hereunder in accordance with, and subject to the conditions of clause 10 (Prepayment and Cancellation) of the Common Terms Agreement. 
9.2Voluntary Prepayment
The Borrower shall be entitled to voluntarily prepay the whole or a portion of the Facility B Loans made to it hereunder in accordance with, and subject to the conditions of the Common Terms Agreement.
10.REPRESENTATIONS FOR GREEN LOAN
The Borrower makes the representations and warranties set out in this Clause 10 in addition to those in clause 20 (Representations) of the Common Terms Agreement to each Finance Party on the Signature Date in each case, unless otherwise indicated, in respect of itself.
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Term Facility B Agreement_ Execution

10.1Green Loan Representations
10.1.1The Green Loan Framework shall set out:
10.1.1.1the environmental sustainability objectives of the Borrower in respect of the Eligible Green Project, including how the Eligible Green Projects further the Borrower’s achievement of its Science Based Targets and decarbonisation strategy (and of any applicable interim targets);
10.1.1.2the process by which the Borrower determines how the Eligible Green Projects align with the Eligibility Criteria; and
10.1.1.3any related eligibility criteria, including, if applicable, exclusion criteria, or any other process applied to identify and manage potentially material environmental risks associated with the Eligible Green Project.
10.1.2Save as disclosed in writing to the Sustainability Coordinator and Sustainability Agent prior to the Signature Date, the factual information provided by the Borrower as set out in the Green Loan Framework is true and accurate in all material respects as at the date it was provided or (as the case may be) as at the date the information is expressed to be given.
10.1.3The Eligible Green Projects conform to the Eligibility Criteria and Green Loan Framework.
10.1.4The Borrower has an established process to identify and manage potentially material environmental risks associated with the Eligible Green Projects.
11.GREEN LOAN UNDERTAKINGS
The undertakings in this Clause 11 (in addition to those in clause 23 (General Undertakings) of the Common Terms Agreement) remain in force from the Signature Date for so long as any amount is outstanding under the Finance Documents or any Facility B Commitment is in force.
11.1Green Loan Undertakings
11.1.1The Borrower shall comply with the provisions of the Green Loan Framework in all material respects.
11.1.2The Borrower shall not amend or agree to amend the Green Loan Framework in a way which is materially adverse to the Facility B Lenders.
11.1.3The Borrower shall ensure that the proceeds of the Green Facility are allocated to Eligible Green Projects and recorded in the accounting systems of the Borrower (including being allocated a unique cost code) in accordance with the provisions of the Green Loan Framework.
11.1.4The Borrower shall maintain policies and procedures to enable it to track the allocation of funds towards each Eligible Green Project and to monitor and evaluate each Eligible Green Project on an on-going basis, in accordance with the Green Loan Framework.
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Term Facility B Agreement_ Execution

12.GREEN INFORMATION UNDERTAKINGS 
The undertakings in this Clause 12 in addition to those in clause 21 (Information Undertakings) of the Common Terms Agreement remain in force from the Signature Date for so long as any amount is outstanding under the Finance Documents or any Facility B Commitment is in force.
12.1Information: Miscellaneous
The Obligors’ Agent shall supply to the Sustainability Coordinator and Sustainability Agent promptly, upon becoming aware of them, details in writing of any non-compliance with Clause 11 (Green Loan Undertakings).
12.2Green Loan Reporting
12.2.1The Obligors’ Agent shall supply to the Sustainability Agent, as soon as the same become available, but in any event within 75 days after the end of each of its Financial Years, an annual Allocation and Impact Report.
12.2.2The Obligors’ Agent shall from time to time at its own cost and expense supply to the Sustainability Coordinator and Sustainability Agent (in sufficient copies for all the Facility B Lenders, if the Sustainability Agent so requests) any such relevant information which in the opinion of the Borrower relates to:
12.2.2.1a material change to the Eligible Green Project financed with Facility B; and/or
12.2.2.2the Green Loan Framework; 
which, in each case, would reasonably be expected to result in a Declassification Event or the declassification of any Green Loans in accordance with the provisions of Clause 13.2 (Declassification Events).
13.COMPLIANCE WITH GREEN LOAN PRINCIPLES
13.1Green Loan Audits
13.1.1If the Borrower or Obligors’ Agent, as the case may be, fails to comply with any of the provisions referred to in:
13.1.1.1Clause 6.1 (Purpose) of the Common Terms Agreement;
13.1.1.2Clause 2.2 (Facility B Loan);
13.1.1.3Clause 10 (Green Loan Representations);
13.1.1.4Clause 11 (Green Loan Undertakings); 
13.1.1.5Clause 12.1 (Information: Information: Miscellaneous); 
13.1.1.6Clause 12.2 (Green Loan Reporting),
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Term Facility B Agreement_ Execution

(collectively, the Applicable Clauses and each an Applicable Clause), the Sustainability Agent (acting on the instructions of the Majority Lenders) may carry out any independent third-party verifications or audits, at the cost of the Borrower, that it considers reasonably necessary to confirm that the Borrower or Obligors’ Agent, as the case may be, has complied with its obligations under this Agreement. The Sustainability Agent may exercise its right to carry out such independent third-party verifications or audits as aforesaid to the extent that it reasonably suspects that the Borrower or Obligors’ Agent, as applicable, has failed to comply with any Applicable Clause.
13.1.2The Sustainability Agent shall notify the Obligors’ Agent of the proposed terms of reference of any audit to be carried out pursuant to this Clause 13.1 (Green Loan Audits) and shall consult with the Obligors’ Agent on the proposed Terms of Reference. 
13.1.3Notwithstanding Clause 13.1.2, the Terms of Reference shall be subject only to the prior approval of the Sustainability Agent (acting on the instructions of the Majority Lenders).
13.1.4The findings of any audit carried out pursuant to this Clause 13.1 shall, in the absence of manifest error, be conclusive and binding on all Parties.
13.2Declassification Events 
If:
13.2.1any representation, warranty or statement made or given or deemed to be made or given by the Borrower relating to a Green Loan is or proves to have been incorrect or misleading in any material respect when made or deemed to be made;
13.2.2the Borrower fails to comply with any of the provisions referred to in:
13.2.2.1Clause 6.1 (Purpose) of the Common Terms Agreement;
13.2.2.2Clause 2.2 (Facility B Loan);
13.2.2.3Clause 10 (Green Loan Representations);
13.2.2.4Clause 11 (Green Loan Undertakings), 
13.2.2.5Clause 12.2 (Green Loan Reporting);
and if such failure to comply is capable of remedy but not remedied by the Borrower within 30 (thirty) Business Days (or such longer period as the Sustainability Agent may agree in writing) of the earlier of (i) the Sustainability Agent giving written notice of the failure to comply to the Borrower and (ii) the Borrower becoming aware of the failure to comply, each outstanding Green Loan shall be declassified as such by the Sustainability Agent. 
13.3Consequences of Declassification
13.3.1From the date on which any Facility B Loan is declassified as a Green Loan in accordance with Clause 13.2 (Declassification Events) (the Declassification Date), the Borrower shall, as soon as reasonably practicable and in any event within 15 (fifteen) days of notice from the Sustainability Agent (acting on the instructions of the Facility B Lenders):
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Term Facility B Agreement_ Execution

13.3.1.1cease representing in all internal and external communications, marketing or publications that each outstanding Facility B Loan is a Green Loan; and
13.3.1.2ensure that all material, publications and information it publishes relating each outstanding Facility B Loan no longer refers to it as a Green Loan.
13.3.2With immediate effect from the Declassification Date, a Facility B Lender shall not be obliged to fund a Utilisation under Facility B.
13.3.3Within 10 (ten) Business Days of the Declassification Date, the Sustainability Agent, Sustainability Coordinators and Obligors’ Agent shall enter into negotiations (to be conducted in good faith for a period of not more than 30 (thirty) days) (the 30-day period, being the Revised Margin Negotiation Period) with a view to agreeing a new margin applicable to the Green Facility (the Revised Facility B Margin).
13.3.4If, following the expiry of the Revised Margin Negotiation Period:
13.3.4.1the Sustainability Agent, the Sustainability Coordinators and the Obligors’ Agent agree to the Revised Facility B Margin, such Revised Facility B Margin shall apply in respect of the Interest Period immediately following the Declassification Date; or
13.3.4.2the Sustainability Agent, the Sustainability Coordinators and the Obligors’ Agent fail to agree to the Revised Facility B Margin, the Obligors’ Agent shall notify the Borrower of such failure and the Applicable Margin shall increase by 0.2% (zero point two percent.) with effect from the Interest Period immediately following the expiry of the Revised Margin Negotiation Period and the provisions of Clause 2.2 (Facility B Loan), Clause 10 (Green Loan Representations), Clause 11 (Green Loan Undertakings), and Clause 12.2 (Green Loan Reporting) shall cease to be of any further force or effect.
14.CONSEQUENCES OF EVENT OF DEFAULT
If a notice is delivered pursuant to clause 26.17 (Acceleration) of the Common Terms Agreement, the Borrower shall be obliged, without prejudice to any other rights which the Finance Parties may have pursuant to the Finance Documents or at law, to repay the Facility B Loans made to it hereunder (which shall be immediately due and payable) together with:
14.1accrued but unpaid interest on the Facility B Loans; plus
14.2Breakage Costs (if any); plus 
14.3accrued but unpaid interest on all Unpaid Sums payable by the Borrower in accordance with clause 13.5 (Default interest) of the Common Terms Agreement from the due date of such Unpaid Sum to its date of payment.
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Term Facility B Agreement_ Execution

BORROWER AND OBLIGORS’ AGENT

SIGNED at ___Randfontein____________ on this the ____25th_____ day of ________May_______2022.
						
		For and on behalf of
HARMONY GOLD MINING COMPANY LIMITED

/s/ Boipelo Pride Lekubo____
Signatory: Boipelo Pride Lekubo
Capacity: Financial Director
Who warrants authority hereto

/s/ Peter William Steenkamp_
Signatory: Peter William Steenkamp
Capacity: Chief Executive Officer
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at ___Johannesburg____________ on this the ____25th_____ day of ________May_________2022.
						
		For and on behalf of
NEDBANK LIMITED (ACTING THROUGH ITS NEDBANK CORPORATE AND INVESTMENT BANKING DIVISION) 

_/s/G.L.WEBBER_____________
Signatory: G.L.WEBBER
Capacity: AUTHORISED SIGNATORY
Who warrants authority hereto

_/s/N.J.SINGH________________
Signatory: N.J. SINGH
Capacity: AUTHORISED SIGNATORY
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at ___Johannesburg____________  on this the ____25th_____ day of ________May__________2022.

						
		For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE and INVESTMENT BANKING DIVISION) 

/s/Andrew SPrenger________
Signatory: Andrew SPrenger
Capacity: Authorised
Who warrants authority hereto

/s/ Chetan Jeeva__________
Signatory: Chetan Jeeva
Capacity: Authorised
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at ___Johannesburg___on this the  __9th___ day of ____May___2022.
						
		For and on behalf of
FIRSTRAND BANK LIMITED (ACTING THROUGH ITS RAND MERCHANT BANK DIVISION)

/s/ Julian Grieve___________
Signatory: Julian Grieve
Capacity: Authorised Signatory
Who warrants authority

/s/ Tshepo Pitse_____________
Signatory: Tshepo Pitse
Capacity: Authorised Signatory
Who warrants authority

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at Johannesburg___ on this the  ____25th____day of _May______2022.
						
		For and on behalf of
STATE BANK OF INDIA (ACTING THROUGH ITS JOHANNESBURG BRANCH) 
/s/ ASHISH KUMAR PATNAIK____________________________
Signatory: ASHISH KUMAR PATNAIK 
Capacity: Authorised Signatory VICE PRESIDENT, SYNDICATIONS
Who warrants authority

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER
SIGNED at Johannesburg___ on this the ___25th_____  day of _May____2022.
						
		For and on behalf of
BANK OF CHINA LIMITED, JOHANNESBURG BRANCH 

/s/ Greg Cohen________________
Signatory: Greg Cohen - Acting Assistant General Manager
Capacity: Authorised Signatory
Who warrants authority hereto

/s/ Lynne Hulme_____________
Signatory: Lynne Hulme
Capacity: Authorised Signatory
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at Johannesburg___ on this the ___25th___ day of ___May___2022.
						
		For and on behalf of
INVESTEC BANK LIMITED (ACTING THROUGH ITS INVESTMENT BANKING DIVISION: CORPORATE SOLUTIONS)

/s/ Kerry Caldwell___________
Signatory: Kerry Caldwell
Capacity: Authorised Signatory
Who warrants authority hereto

/s/ Sean Rule________________
Signatory: Sean Rule
Capacity: Authorised Signatory
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER

SIGNED at Johannesburg___ on this the ___9th_____  day of _May____2022.
						
		For and on behalf of
HSBC BANK PLC - JOHANNESBURG BRANCH 

/s/ Dean Radbourne
Signatory: Dean Radbourne
Capacity: Authorised Signatory
Who warrants authority

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER
SIGNED at Johannesburg___ on this the ___25th_____  day of _May____2022.
						
		For and on behalf of
INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED (AS ORIGINAL LENDER)

/s/ A.C.Fourie_______
Signatory: A.C.Fourie
Capacity: A.Signatory
Who warrants authority hereto

/s/ David Wanda____________
Signatory: DAVID WANDA
Capacity: LEAGAL MANAGER
Who warrants authority hereto

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Term Facility B Agreement_ Execution

ORIGINAL FACILITY B LENDER
SIGNED at Cape Town___ on this the ___25th_____  day of _May____2022.
						
		For and on behalf of
NINETY ONE SA PROPRIETARY LIMITED (ACTING AS AGENT AND PORTFOLIO MANAGER OF NINETY ONE ASSURANCE LIMITED) 

/s/ Adam Fletcher_________
Signatory: Adam Fletcher
Capacity: General Counsel
Who warrants authority hereto

/s/ Nathaniel Micklen_______
Signatory: Nathaniel Micklen
Capacity: Portfolio Manager
Who warrants authority hereto

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Term Facility B Agreement_ Execution

FACILITY AGENT

SIGNED at Johannesburg___ on this the ___25th_____  day of _May____2022.

						
		For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE and INVESTMENT BANKING DIVISION) 

/s/ Anna van Rooyen_______
Signatory: Anna van Rooyen
Capacity: Authorised
Who warrants authority hereto

/s/ Ameeth Lakhani________
Signatory: Ameeth Lakhani
Capacity: Authorised
Who warrants authority hereto

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Term Facility B Agreement_ Execution

SUSTAINABILITY AGENT

SIGNED at Johannesburg___ on this the ___25th_____  day of _May____2022.

						
		For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE and INVESTMENT BANKING DIVISION) 

/s/Andrew SPrenger________
Signatory: Andrew SPrenger
Capacity: Authorised
Who warrants authority hereto

/s/ Chetan Jeeva__________
Signatory: Chetan Jeeva
Capacity: Authorised
Who warrants authority hereto

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Term Facility B Agreement_ Execution

SUSTAINABILITY COORDINATOR

SIGNED at Johannesburg___ on this the ___25th_____  day of _May____2022.

						
		For and on behalf of
ABSA BANK LIMITED (ACTING THROUGH ITS CORPORATE and INVESTMENT BANKING DIVISION) 

/s/Andrew SPrenger________
Signatory: Andrew SPrenger
Capacity: Authorised
Who warrants authority hereto

/s/ Chetan Jeeva__________
Signatory: Chetan Jeeva
Capacity: Authorised
Who warrants authority hereto

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Term Facility B Agreement_ Execution

SUSTAINABILITY COORDINATOR

SIGNED at ___Johannesburg____________ on this the ____25th_____ day of ________May_______________2022.
						
		For and on behalf of
NEDBANK LIMITED (ACTING THROUGH ITS NEDBANK CORPORATE AND INVESTMENT BANKING DIVISION) 

_/s/G.L.WEBBER_____________
Signatory: G.L.WEBBER
Capacity: AUTHORISED SIGNATORY
Who warrants authority hereto

_/s/N.J.SINGH________________
Signatory: N.J. SINGH
Capacity: AUTHORISED SIGNATORY
Who warrants authority hereto

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Term Facility B Agreement_ Execution

SCHEDULE 1
THE ORIGINAL FACILITY B LENDERS
						
	NAME OF ORIGINAL FACILITY B LENDER	FACILITY B COMMITMENT (ZAR)
	Absa Bank Limited (acting through its Corporate and Investment Banking division)	ZAR320,000,000
	Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division)	ZAR290,000,000
	FirstRand Bank Limited (acting through its Rand Merchant Bank division)	ZAR285,000,000
	State Bank of India (acting through its Johannesburg Branch)	ZAR100,000,000
	Bank of China Limited, Johannesburg Branch	ZAR100,000,000
	Investec Bank Limited (acting through its Investment Banking division: Corporate Solutions)	ZAR125,000,000
	HSBC Bank plc - Johannesburg Branch	ZAR25,000,000
	Industrial Corporation of South Africa Limited	ZAR155,000,000
	Ninety One SA Proprietary Limited acting as agent and portfolio manager of Ninety One Assurance Limited	ZAR100,000,000

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Term Facility B Agreement_ Execution

SCHEDULE 2
FORM OF UTILISATION REQUEST
From    :    Harmony Gold Mining Company Limited

To    :    [●] 
        (as Facility Agent)

Date    :    [insert]

Dated    [●]

Dear Sirs
Harmony Gold Mining Company Limited – Term Facility B Agreement dated [●] (the Agreement)
1.We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request.
2.We wish to borrow a Facility B Loan on the following terms:
Facility to be utilised:    Facility B
Proposed Utilisation Date:    [●] (or, if that is not a Business Day, the next Business Day)
Amount:    ZAR [●] 
3.We confirm that each condition specified in Clause 3 (Conditions of Utilisations) is satisfied on the date of this Utilisation Request.
4.The proceeds of this Facility B Loan should be credited to: [account].
5.This Utilisation Request is accompanied by a duly executed Green Costs Certificate and a Green Costs Report.
6.This Utilisation Request is irrevocable.
Yours faithfully

_____________________________
For: Harmony Gold Mining Company Limited
Capacity:
Who warrants his authority hereto

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Term Facility B Agreement_ Execution

SCHEDULE 3
GREEN LOAN FRAMEWORK
This Green Loan Framework sets out how the Borrower will use the Green Facility provided by the Facility B Lenders under this Agreement.
The Green Loans raised in accordance with this Green Loan Framework align with the Eligibility Criteria below.
Eligibility Criteria
1.Use of Proceeds 
The Green Facility shall be used exclusively to finance Investments relating to the construction, development, acquisition, maintenance, and/or operation of renewable energy installations including, but not limited to, the following renewable energy projects that form part of phase 2 of the Borrower’s solar photovolactic project:
1.13MWp Central Plant;
1.25MWp Saaiplaas Plant;
1.37MWp Kalgold;
1.420MWp Moab Operations;
1.518MWp FG 1 Plant;
1.614MWp MWS/Chemwes;
1.720MWp Phakisa;
1.810MWp Joel Operations;
1.920MWp Mponeng Operations;
1.1010MWp Target 1 + plant; and
1.1110MWp Covalent, 
(the Eligible Green Projects).
2.Project Selection and Evaluation 
2.1The Borrower shall comply with its existing internal capital project approval process as at the Signature Date. Additionally, the Green Loan Confirmation Committee will:
2.1.1confirm the eligibility of the projects that would qualify as Eligible Green Projects;
2.1.2approve the allocation of the proceeds of each Green Loan to reimburse capital expenditure related to Eligible Green Projects;
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Term Facility B Agreement_ Execution

2.1.3assess the compliance of Eligible Green Projects with the Borrower’s social and environmental policy where applicable; and
2.1.4exercise professional discretion and judgement in granting any approval contemplated herein.
 3Management of Proceeds 
3.1.The Borrower will, through its finance department, manage the allocation of proceeds from the Green Loans to Eligible Green Projects. The Borrower will ensure that these allocations are recorded in the accounting systems of the Borrower and maintained by its finance department.
3.2.Subject to the approval of the applicable Capital Projects Authorising Parties, the Borrower will generate a unique cost code for each Eligible Green Project in its accounting system. 
3.3.The Borrower shall initially incur or fund the expenditure relating to the construction, development, acquisition, maintenance, and/or operation of the Eligible Green Projects. 
3.4.On a monthly basis, the Borrower will extract a Green Costs Report. Once the Green Costs Report has been reviewed and approved by the treasury department of the Borrower, the treasury department shall issue a Utilisation Request to which the Green Costs Report will be attached. The amount of the Utilisation shall be limited to the capital expenditure set out in the Green Costs Report which shall reference the cost code contemplated in paragraph 3.2 hereof. 
3.5.The Executive Head: Treasury, the Executive Head of Sustainable Development and the Executive Head Technical and Engineering of the Borrower will each certify in respect of each Utilisation Request that the proposed Utilisation of the Green Facility will be utilised exclusively to reimburse the Borrower for expenditure relating to Eligible Green Projects as set out in the applicable Green Costs Report.
4.Reporting 
4.1The Borrower will report on the impact and allocation of each Green Loan in the Allocation and Impact Report, made available to the Facility B Lenders during the term of the Green Loans. The report will include the following:
4.1.1Allocation Reporting (including, (i) the Eligible Green Project names and descriptions and (ii) the amount invested in respect of each Eligible Green Project and funded by Utilisations under the Green Loans).
4.1.2Impact Reporting
Where relevant and feasible, the Borrower will provide impact metrics by project which include the following: 
4.1.2.1Annual GHG Emissions reduced/avoided in tonnes of CO2 equivalent/annum;
4.1.2.2Annual renewable energy generation in MWh/GWh (electricity) and GJ/TJ (other energy) and used by the Borrower;
4.1.2.3Capacity of renewable energy plant(s) constructed or rehabilitated in MW;
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Term Facility B Agreement_ Execution

4.1.2.4Confirmation that the Eligible Green Projects have not been allocated to any other green and or sustainable use of proceed facilities into which the Borrower may enter from time to time.
4.2The Borrower shall confirm compliance with the Green Loan Principles Requirements.
4.3All relevant information regarding the allocation of proceeds of a Utilisation as contemplated in paragraph 4.1.1 above will be recorded in the Borrower’s accounting software and maintained by the Borrower’s finance department.
The Obligors’ Agent will notify the Sustainability Agent within 15 (fifteen) Business Days of becoming aware of any failure to comply with this Green Loan Framework. 
The Parties acknowledge and agree that, solely as a result of failure to perform or comply with this Green Loan Framework, no Default or Event of Default will occur.

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Term Facility B Agreement_ Execution

SCHEDULE 4
ALLOCATION AND IMPACT REPORT
From:        [Borrower]
To:        [Sustainability Agent]
Dated        [●]
Dear Sirs,
Harmony Gold Mining Company Limited -Term Facility B Agreement dated [•] (Agreement)
1We refer to the Agreement. This is the Allocation and Impact Report required in terms of paragraph 4 of Schedule 3 of the Agreement. Terms defined in the Agreement have the same meaning in this report unless given a different meaning in this report.
2Allocation Report:
																					
	Summary Report
	          Total Green Loan utilisation to date 
	ZAR [●]

	          Total amount allocated towards Eligible Green Projects to date
	ZAR [●]

	Detailed Report
	Renewable Energy	Project cost	Eligibility for green loan	Allocated Amount
	Eligible Green Project name	Eligible Green Project description	Completion date	ZAR	% of project cost	ZAR
						
	Total			

3Impact Report:
															
	Eligible Green Project Name	Annual GHG Emissions reduced/avoided
(CO2 equivalent/annum)
	Annual renewable energy generation
(MWh (electricity))
	Capacity of renewable energy plant(s) constructed or rehabilitated
(MW)
	Other indicators
					
					
	Total				

4We hereby confirm that the Eligible Green Projects have not been allocated to any other green and or sustainable use of proceeds facilities into which we have entered. 
5We hereby confirm compliance with the Green Loan Principles Requirements.
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Term Facility B Agreement_ Execution

Director/Officer                            Director/Officer
Of                                Of
[Obligors’ Agent]                        [Obligors’ Agent]

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Term Facility B Agreement_ Execution

SCHEDULE 5
CONFIRMATION OF AUTHORISATIONS CERTIFICATE
From:    [Obligors’ Agent]

To:    [Sustainability Agent]

Dated    [●]

Dear Sirs,

Harmony Gold Mining Company Limited -Term Facility B Agreement dated [•] (Agreement)

1.We refer to the Agreement. This is the confirmation required in terms of clause 3.1.2 of the Agreement. Terms defined in the Agreement have the same meaning in this certificate unless given a different meaning in this certificate.
2.We confirm that all regulatory approvals, Environmental Permits and Authorisations required in connection with the Eligible Green Projects to which the proposed Utilisation relates have been obtained as at the date of this confirmation.
3.We have listed below and enclose copies of all regulatory approvals, Environmental Permits and Authorisations including the Environmental Authorisation Letter relating to the proposed Utilisation, and the Environmental Impact Assessment to which the proposed Utilisation relates.
						
	Environmental Permit/Authorisation/Environmental Impact Assessment	Date
	[Insert]	[Insert]
	[Insert]	[Insert]

Director/Officer                            Director/Officer
Of                                Of

[Obligors’ Agent]                            [Obligors’ Agent]
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Term Facility B Agreement_ Execution

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