2nd Quarter Production Report: 3 months ended 31 March 2015 Tharisa plc (Incorporated in the Republic of Cyprus with limited liability) (Registration number HE223412) JSE share code: THA ISIN: CY0103562118 ('Tharisa') Second quarter production report: 3 months ended 31 March 2015 Safety Safety remains our utmost priority and we strive for zero harm at our operations. The Lost Time Injury Frequency Rate at the Tharisa Mine for the twelve month period to 31 March 2015 (per 200 000 man hours) was 0.07. New Record PGM production in March 2015 The Tharisa Mine produced 12 874 6E contained PGM ounces during March 2015, the previous record was 10 593 6E contained PGM ounces achieved during January 2015. Production update The table below details the production summary for the Tharisa Mine: Quarter Quarter Half year Half year Financial year ended 31 Mar ended 31 Dec ended 31 Mar ended 31 Mar ended 30 Sep 2015 2014 * 2015 2014 2014 Reef mined kt 1 042.1 905.9 1 948.0 1 957.8 3 908.5 Stripping ratio m³ waste/m³ reef 9.8 10.1 10.0 9.2 10.6 Reef milled kt 1 167.1 1 031.6 2 198.7 1 919.0 3 913.1 PGM rougher feed grade g/t 1.65 1.67 1.65 1.68 1.63 6E PGMs produced koz 33.0 24.4 57.4 38.4 78.2 PGM recovery % 68.6 56.9 63.1 47.7 48.8 Average PGM contained metal basket price US$/oz 935 956 945 1 079 1 103 Cr2O3 RoM grade % 18.8 18.5 18.7 20.1 19.4 Chrome concentrates produced kt 305.5 257.8 563.3 569.4 1 085.2 42% metallurgical grade kt 283.6 232.3 515.9 500.0 937.0 Chemical and foundry grades kt 21.9 25.5 47.4 69.4 148.2 Chrome yield % 26.2 25.0 25.6 29.7 27.7 42% metallurgical grade chrome concentrate US$/t CIF contract price China 155 159 156 151 158 Average exchange rate ZAR:US$ 11.7 11.1 11.5 10.5 10.6 *Loss of plant production time of 12% for the quarter, following the tragic fatality on 5 November 2014 and the Section 54 Commenting on the production, Phoevos Pouroulis, Tharisa CEO said: “We had an excellent quarter, producing 33 koz of PGMs and 305 kt of chrome concentrates with markedly improved mining following the changes made in Q1 and continued progress in optimising our processing to improve PGM recoveries and deliver higher margin chrome concentrates. The improvement in mining has enabled the Genesis plant to process mined ore as well as re-processing commissioning tails. The processing of 100% mined ore through the Genesis plant is now planned for Q3 2015. The Voyager plant continues to operate on 100% mined ore. Both process and mechanical reliability optimisation projects have been successful during the period. Given continued depressed commodity prices, the focus has been on maximising PGM recoveries and higher value add chemical and foundry grade chrome concentrates. It is pleasing to report that the PGM recoveries surpassed expectations at the Voyager plant with a recovery of 78.8% being achieved in March 2015. The combined PGM production in March 2015 equates to 12 874 contained PGM ounces on a 6E basis which demonstrates that we are on track to achieve our steady state production.” Pouroulis added. “The Tharisa team has worked hard to prove our large-scale, long-life, open pit PGM and chrome co-product mine to be a viable and attractive business. I thank all those who have contributed during this period and look forward to reporting on even better results in the future.” The above information has not been reported on or reviewed by Tharisa’s auditors. The financial results for the six months ended 31 March 2015 are expected to be released on or about 17 June 2015. Paphos, Cyprus 14 April 2015 Sponsor Investec Bank Limited Date: 14/04/2015 11:36:00 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.