Change of independent auditors - FY2024

JSE share code: THA

LSE share code: THS

A2X share code: THA

('Tharisa' or the 'Company')

CHANGE OF INDEPENDENT EXTERNAL AUDITORS - FY2024

In compliance with Section 3.75 of the Listings Requirements of the JSE Limited, the Board of Directors of Tharisa ("the Board") hereby announces that the Audit Committee has recommended, and the Board has endorsed, the proposed appointment of BDO Limited, incorporated in Cyprus ("BDO Cyprus"), with Terence Kiely being the designated audit partner, as external auditors of Tharisa for the financial year ending 30 September 2024. The appointment of BDO Cyprus will be put to shareholders of Tharisa at the Annual General Meeting scheduled for 21 February 2024.

The Company's incumbent external auditors, Ernst & Young Cyprus Limited ("EY Cyprus") have served as external auditors for six years and the designated registered auditor, Stavros Pantzaris, notified Tharisa that he was resigning as Executive Chairman of EY and as audit partner on the Tharisa account with effect from 31 December 2023. BDO Cyprus had been appointed as the external auditors of the Karo Mining Holdings plc and its subsidiaries effective from the financial year ended 30 September 2022 and the Board is of the opinion that consolidation of the external auditors across the Tharisa group would streamline the audit process going forward.

The Board thanks EY Cyprus for their diligence, commitment to excellence, attention to detail and professionalism, which have contributed to Tharisa's financial integrity and transparency over the past six years.

Paphos, Cyprus

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