DRDGOLD LTD — Interim / Quarterly Report 2015

Apr 23, 2015

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Name: Themba Gwebu Title: Company Secretary

9 months to 31 Mar 2015

DEAR SHAREHOLDER

Secondly, the application for the roll-up of our black economic empowerment (“BEE”) partners was approved. Our BEE partners now own approximately 10% of the shares in issue in DRDGOLD Limited and the non-controlling interest of 26% historically recognised in our financial statements no longer applies.

Although some desorption occurring in the carbon-in-pulp (“CIP”) circuit caused carbon adsorption efficiencies to settle at a level marginally lower than the design parameters of the plant, we achieved our overall target to reduce residue grade
We are pleased that two very important applications that we had submitted to the Department of Mineral Resources (“DMR”) wereIn February, we announced our intention to seek early redemption of the remaining notes under DRDGOLD’s Domestic Medium Term Note

AISC margin rose to 9.0% from 4.5%, following the drop in capex.

Headline earnings of R9.2 million (2 South African cents per share) were recorded compared with headline earnings of R0.1 million in the previous quarter (0 South African cents per share).

Headline earnings of R8.2 million (2 South African cents per share) were achieved versus a headline loss of R36.7 million (10 South African cents per share) in the comparative period.

LOOKING AHEAD Although we would have preferred to have started the quarter better – and more particularly to have performed better insofar as volume delivery is concerned – we are pleased with the quarter’s numbers as a whole. The performance of the plant in March is a source of great encouragement to us. For the next few months our focus will be on completing:

While average yield remained stable at 0.197g/t in the third quarter of FY2015 compared with the second quarter, throughput was 3% higher at 5 826 000t, resulting in a 2% increase in gold production to 36 877oz.

• the overhaul of our asset maintenance system to avoid unnecessary interruptions to production due to breakdowns, and co-ordinated maintenance over the entire circuit;

• the refurbishment of the remaining five carbonin-leach (“CIL”) tanks at Ergo to raise volume capacity in the plant by approximately 300 000t per month, and starting up reclamation from the Van Dyk site;

• construction of the Rondebult water plant and pipeline to supplement water supply from this sewage farm to our operations; and

• the conversion of the high-grade CIP circuit to CIL to optimise leaching and adsorption in the high-grade circuit.
Niël Pretorius Chief Executive Officer Operating margin strengthened to 18.4% from 17.3% due to the factors outlined above, and the23 April 2015

QuarterQuarterQuarter
31 Mar 201531 Dec 201431 Mar 201431 Mar 2015 RmRmRmRm

27.5

379 228 208379 228 208379 228 208379 228 208379 203 208

As atAs atAs at
31 Mar 201530 June 201431 Mar 2014
RmRmRmRm

9 months to9 months to
31 Mar 201531 Dec 201431 Mar 201431 Mar 201531 Mar 2014
RmRm

QuarterQuarter9 months to
31 Mar 201531 Dec 201431 Mar 201431 Mar 201531 Mar 2014
RmRmRmRmRm

1.0
72.450.9

FORWARD LOOKING STATEMENTS