THARISA PLC - Trading Statement Interim Results for the six months ended 31 March 2025

Trading Statement – Interim Results for the six months ended 31 March 2025

Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company')


TRADING STATEMENT – INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2025

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.

A production update for the six months ended 31 March 2025 was released on the JSE Stock Exchange
News Service and LSE Regulatory News Service on 10 April 2025. The production report highlighted
unprecedented weather-related operational challenges and the weaker chrome price on a year-by-
year basis.

Tharisa is preparing its financial statements for the interim period, with the Reviewed Interim
Consolidated Financial Statements expected to be released on or about 22 May 2025.

Tharisa's basic earnings per share ('EPS') for the six months ended 31 March 2025 is expected to be
between US 2 cents and US 3 cents per share with a tolerance of 10%. This is a decrease of 76.6% to
84.3% relative to the EPS of US 12.8 cents per share for the six months ended 31 March 2024.

Headline earnings per share ('HEPS') for the six months ended 31 March 2025 are expected to be
between US 2 cents and US 3 cents per share with a tolerance of 10%, this is a decrease of 77.2% to
84.8% relative to the HEPS of US 13.2 cents per share for the six months ended 31 March 2025.

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


Paphos, Cyprus
19 May 2025

JSE Sponsor
Investec Bank Limited

Connect with us on LinkedIn to get further news and updates about our business.

Investor Relations Contacts:
Ilja Graulich (Head of Investor Relations and Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com

Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 418 8900


BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Nick Macann
+44 207 236 1010


Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Lee / Detlir Elezi
+44 203 207 7800


About Tharisa
Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It
incorporates exploration, mining, processing and the beneficiation, marketing, sales, and logistics of PGMs and
chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the multi-
generational Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. Tharisa is
also developing the Karo Platinum Project, a tier-one PGM asset located on the Great Dyke in Zimbabwe, while
simultaneously focusing on beneficiation in the form of chrome and PGM alloys. A 15-year Power Purchase
Agreement for the procurement of wheeled renewable energy and a 40 MW solar project will ensure that
Tharisa Minerals' drive to reduce its carbon footprint by 30% by 2030 is well within reach, forming a major part
of a roadmap to become net carbon neutral by 2050. Redox One is accelerating the development of a proprietary
iron chromium redox flow long-duration battery utilising the commodities we mine. Tharisa plc is listed on the
Johannesburg Stock Exchange (JSE: THA) and has an Equity Shares (Transition) Category listing on the London
Stock Exchange (LSE: THS).

Date: 19-05-2025 08:50:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.