Results for the quarter ended 30 September Niël Pretorius, CEO Craig Barnes, CFO 27 October 2011

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1 Results for the quarter ended 30 September 2011 Niël Pretorius, CEO Craig Barnes, CFO 27 October 2011

2 DRDGOLD: disclaimer Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements included in this document, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a sustained strengthening of the Rand against the Dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licences or other governmental approvals, changes in DRDGOLD's competitive position, changes in business strategy, any major disruption in production at key facilities or adverse changes in foreign exchange rates and various other factors. These risks include, without limitation, those described in the section entitled Risk Factors included in our annual report for the fiscal year ended 30 June 2010, which we filed with the United States Securities and Exchange Commission on 29 October 2010 on Form 20-F. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events. 1

3 Highlights for the quarter Gold production up 1% to oz Revenue up 28% to R806.2 million Operating profit up 82% to R202.5 million Headline earnings per share up 150% to 20cps Net cash inflow from operations up 14% to R117.9 million Board considering offers received for Blyvoor 2

4 Gold production: Q vs Q Total gold production up 1% to oz underground gold production up 10 % to oz yield higher due to resolution of explosives issue Blyvoor sets several safety records surface gold production down 3% to oz production mainly affected by change-over to new reclamation sites 3

5 Production by operation % % % Production (oz) % Contribution (%) 20% % - Q12010 Q12011 Q12012 Blyvoor Ergo % Ergo 0% 4

6 Revenue Revenue up 29% to R806.2 million 37% increase in gold price 6% decrease in gold sold % Revenue (R m) % 40% 30% 20% Contribution (%) % - Q12010 Q12011 Q12012 Blyvoor Ergo % Ergo 0% 5

7 Operating profit Operating profit up 192% to R202.5 million % 100% % Operating profit (R m) % 70% 60% 50% 40% 30% Contribution (%) - 20% 10% Q12010 Q12011 Q12012 Blyvoor Ergo % Ergo 0% 6

8 HEPS Headline earnings per share up to 20cps Cents per share Q12010 Q12011 Q

9 Net cash from operations Net cash inflow from operations up 438% to R117.9 million R million Q12010 Q12011 Q

10 Cash operating costs and gold price (R/kg) R/kg Q12010 Q12011 Q12012 Blyvoor Ergo Group Gold price - R/kg 9

11 Operating margin analysis 40% 34% 30% 25% 20% 20% Operating margin (%) 10% 0% 11% -2% 0% 11% 13% -10% -20% -18% -30% Q12010 Q12011 Q12012 Blyvoor Ergo Group 10

12 Capital expenditure by operation % % 70% 50.0 Capital expenditure (R m) % 50% 40% 30% Contribution (%) 20% % % Blyvoor Ergo % Ergo 11

13 Operational review: Ergo ( incorporating Crown) Production down 1% Cash operating unit costs up 13% lower production electricity tariff increase wage increases Operating profit up 137% Gold produced Q Q % inc/(dec) oz (1) kg (1) Cash operating costs US$/oz R/kg Operating profit oz Q Sep 09 Q Dec 09 Q Mar 10 Q Jun 10 Q Sep 10 Q Dec 10 Q Mar 11 Q Jun 11 Q Sep 11 US$m Rm Gold production Rm Q Sep 09 Q Dec 09 Q Mar 10 Q Jun 10 Q Sep 10 Q Dec 10 Q Mar 11 Q Jun 11 Q Sep 11 Revenue Net operating costs 12

14 Crown/Ergo pipeline: progress Pipeline linking Ergo and Crown (50km) Steel pipe installation (44km) 88% complete HDPE lining (44km) 88% complete 13

15 Operational review: Blyvoor oz Rm Production down 4% Cash operating unit costs up 19% lower production electricity tariff increases wage increases Operating profit of R46.0 million Q Sep 09 Q Dec 09 Q Mar 10 Q Jun 10 Q Sep 10 Q Dec 10 Q Mar 11 Q Jun 11 Q Sep 11 Gold production Q Sep 09 Q Dec 09 Q Mar 10 Q Jun 10 Q Sep 10 Q Dec 10 Q Mar 11 Q Jun 11 Q Sep 11 Revenue Net operating costs Q Q % inc/(dec) Gold produced Total oz (4) kg (4) Underground oz (11) kg (11) Surface oz kg Cash operating costs Total US$/oz R/kg Underground US$/oz R/kg Surface US$/oz (2) R/kg (5) Operating profit US$m Rm

16 Financial review: income statement for the quarter ended 30 September 2011 Q Q Comments Rm Rm Revenue Up 29% due to higher Rand gold price Net operating costs (603.7) (554.2) Up 9%, electricity price increase and labour cost increases Operating profit Up 192%, gearing to gold price Depreciation (27.8) (27.6) Movement in provision for environmental rehab (7.3) (4.8) Net finance income Higher interest charges due to loan notes Other income and costs (44.4) (41.7) Profit/(loss) before tax (3.0) R126.5m swing in profit before tax Taxation (40.4) (5.3) Increase in deferred tax charges due to higher profits Net profit/(loss) 83.1 (8.3) R91.4m swing in profit Headline earnings/(loss) per share (cents) 20 (1) More than 70% of FY2011 HEPS achieved in first quarter 15

17 Financial review: balance sheet at 30 September Sep Jun 2011 Comments Rm Rm Property, plant and equipment Non-current investments and other assets Environmental rehabilitation trust funds Deferred tax asset Cash and cash equivalents Increased notwithstanding Crown/Ergo project capital Other current assets Total assets Equity Long-term liabilities Provision for environmental rehabilitation Deferred tax liability Current liabilities Includes R80.7m loan notes successfully repaid in October 2011 Total equity and liabilities Current ratio Improving with increasing cash flows from operations 16

18 Zimbabwe update (ChizimGold JV) Cautious growth continuing compliant local structure exceptional local partner Early bird advantage: ha footprint Total spend to date: US$2.5m 17

19 Looking ahead Considering Blyvoor offers ERPM Exts 1 & 2 appointment made Ergo integrated by December 2011 R&D feasibility due in December 2011 Extend exploration in Mozambique 18

20 Contact details Registered office 1st Floor, Quadrum 1 Quadrum Office Park 50 Constantia Boulevard Constantia Kloof Ext 28 Roodepoort South Africa PO Box 390 Maraisburg 1700 South Africa Contact details Tel: +27 (0) Fax: +27 (0) craig.barnes@za.drdgold.com james@rair.co.za Website: Shareholder data (Incorporated in the Republic of South Africa) Registration No.1895/000926/06 JSE share code: DRD ISIN: ZAE Issuer code: DUSM NASDAQ trading symbol: DROOY