Tharisa Trading Statement

JSE share code: THA

LSE share code: THS

A2X share code: THA

('Tharisa' or the 'Company')

Trading statement - interim results for the six months ended 31 March 2024

In terms of section 3.4(b) of the JSE Listings Requirements, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the results of the previous corresponding reporting period.

Tharisa is preparing its financial statements for the interim results of the FY2024 financial year, with the Reviewed Interim Condensed Consolidated Financial Statements expected to be released on or about 23 May 2024.

Tharisa's headline earnings per share ('HEPS') for the six months ended 31 March 2024 are expected to be between US 12.5 cents and US 13.5 cents per share with a tolerance of 10%. This is a decrease of 23.3% to 29.0% relative to the HEPS of US 17.6 cents per share for the six months ended 31 March 2023.

Tharisa's basic earnings per share ('EPS') for the six months ended 31 March 2024 are expected to be between US 12.5 cents and US 13.5 cents per share with a tolerance of 10%. This is a decrease of between 22.4% to 28.2% relative to the EPS of US 17.4 cents for the six months ended 31 March 2023, with both HEPS and EPS being in part impacted by the nearly 40% drop in PGM prices received and increased cost pressures.

The financial information on which this trading statement is based has not been reviewed and reported on by the Company's auditors.

Paphos, Cyprus

JSE Sponsor

Investec Bank Limited

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