Company shareholders

As at 30 June 2009, a total of 425 986 836 shares or 100% of the total number of shares in issue were outstanding. The largest institutional shareholder is Allan Gray Limited which had a holding of 13.80% (59 034 107 shares) at the end of June 2009.

In terms of non-institutional ownership, ARM Ltd controls 63 632 922 shares or 14.87% of the issued share capital.

Our South African shareholder base increased from 39% to 42% for the year ended 30 June 2009. The combined institutional and retail ownership in the United States totalled 32% of Harmony's issued share capital. European ownership amounted to 25% of the shares outstanding, which included the 14% held by UK institutions.

Top ten shareholders as at 30 June 2010

ARM Ltd	14.57
Allan Gray Unit Trust Management Ltd.	12.94
Blackrock Investment Management (UK) Ltd.	9.47
Public Investment Corp. of South Africa	6.35
First Eagle Investment Management LLC	4.88
Van Eck Global	3.88
Investec Asset Management Pty Ltd. (South Africa)	2.77
Barclays Capital Securities Ltd prime Brokerage account	2.70
Dimensional Fund Advisors, Inc.	2.31
Fidelity Management & Research	2.19

Geographical distribution of institutional shares identified as at 30 June 2010

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