Capital reduction and cash distribution to shareholders, currency conversion rates and timetable Tharisa plc (Incorporated in the Republic of Cyprus with limited liability) (Registration number HE223412) JSE share code: THA LSE share code: THS ISIN: CY0103562118 ('Tharisa') Capital reduction and cash distribution to shareholders, currency conversion rates and timetable Further to the announcement on 2 February 2017 that the proposed capital reduction and gross return of capital to shareholders of US$0.01 per share (the Distribution) was approved by shareholders by special resolution, shareholders are informed that the requisite approval by the Paphos District Court was obtained, the necessary submissions made to the Cyprus Registrar of Companies, and that the capital reduction is now effective. Shareholders on the principal Cyprus register will be paid in US$, shareholders whose shares are held through Central Securities Depositary Participants (CSDPs) and brokers and are traded on the JSE will be paid in South African Rand (ZAR) and holders of Depositary Interests traded on the LSE will be paid in Sterling (GBP). The Distribution will be paid from contributed capital and constitutes a return of capital. The currency equivalents of the Distribution, based on the weighted average of the South African Reserve Bank’s daily rate at approximately 10:30 (UTC +2) on 19 May 2017, are as follows: Exchange rate Distribution per share in payment currency South Africa – JSE ZAR 13.2874/US$ 13.2874 South African cents per share United Kingdom -- LSE GBP 0.7694/US$ 0.7694 pence per share The timetable for the Distribution is as follows: Currency conversion date Friday 19 May 2017 Currency conversion rates announced Tuesday 23 May 2017 Last day to trade cum-Distribution rights on the JSE Tuesday 6 June 2017 Last day to trade cum-Distribution rights on the LSE Wednesday 7 June 2017 Shares will trade ex-Distribution rights on the JSE from Wednesday 7 June 2017 Shares will trade ex-Distribution rights on the LSE from Thursday 8 June 2017 Record date for payment on both JSE and LSE Friday 9 June 2017 Distribution payment date Wednesday, 14 June 2017 No dematerialisation or rematerialisation of shares within Strate will be permitted between Wednesday 7 June 2017 and Friday 9 June 2017, both days inclusive. No transfers between registers will be permitted between Friday 19 May 2017 and Friday 9 June 2017. Tax implications of the Distribution Shareholders and Depositary Interest holders should note that information provided should not be regarded as tax advice. All shareholders and Depositary Interest holders should consult their brokers, CSDP and/or tax advisors with regard to how they will be impacted by the Distribution. South African tax residents For tax purposes, South African shareholders are advised that the Distribution constitutes a foreign return of capital and will therefore have Capital Gains Tax implications for South African tax residents. The Distribution will first reduce the base cost of the shares in the shareholder’s hands to ZARnil, and any excess will be treated as a capital gain at the time of receipt or accrual of the distribution. The taxable capital gain will be calculated as follows: • in the case of a natural person or special trust (as defined), 40% of the net capital gain; • in any other case, 80% of the net capital gain. UK tax residents UK tax residents are advised that the Distribution constitutes a foreign return of capital and that they should consult their brokers, financial and/or tax advisors with regard to how they will be impacted by the Distribution. Cyprus tax residents For Cyprus tax resident and domiciled shareholders who are individuals, the Distribution constitutes a return of capital as it represents an amount lower than the paid up share capital. Shares listed on any recognised stock exchange are excluded from the Cyprus Capital Gains Tax provisions. There are no withholding taxes on distributions to shareholders which are Cypriot legal persons. Additional information required by the JSE Listing Requirements 1. Tharisa had a total of 256 981 571 ordinary shares in issue on 19 May 2017. 2. The Distribution will be paid out of the share premium account. Paphos, Cyprus 23 May 2017 JSE Sponsor Investec Bank Limited Please direct any queries to Tharisa’s Transfer Secretaries Computershare Investor Services Proprietary Limited Registration number: 2004/003647/07 Rosebank Towers, 15 Biermann Avenue, Rosebank 2196 (PO Box 61051, Marshalltown 2107) South Africa Telephone +27 11 370 5000 or 0861 100 930 (South Africa toll free) Email enquiries Web.Queries@Computershare.co.za Computershare Investor Services PLC Registration number: 3498808 The Pavilions, Bridgwater Road, Bristol BS13 8AE England, United Kingdom Telephone +44 (0370) 702 0000 Email enquiries !UKALLDITeam2@computershare.co.uk Cymain Registrars Limited Registration number: HE174490 26 Vyronos Avenue, 1096 Nicosia Cyprus Telephone Int + 357 22104 452 Email enquiries registry@cymainregistrars.com.cy Investor Relations contact: Tharisa plc Sherilee Lakmidas +27 11 996 3538 +27 79 276 2529 slakmidas@tharisa.com Broker contacts: Peel Hunt LLP (Joint Broker) Matthew Armitt / Ross Allister +44 207 7418 8900 BMO Capital Markets Limited (Joint Broker) Jeffrey Couch/Neil Haycock/Thomas Rider +44 020 7236 1010 Date: 23/05/2017 08:00:00 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.