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 2023

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 FY2023 financial year, with the
Reviewed Interim Condensed Consolidated Financial Statements expected to be released on or about 19
May 2023.

Tharisa’s headline earnings per share ('HEPS') for the six months ended 31 March 2023 are expected to
be between US 17 cents and US 18 cents per share with a tolerance of 10%. This is an increase of 9.6% to
16.1% relative to the HEPS of US 15.5 cents per share for the six months ended 31 March 2022.

Tharisa’s basic earnings per share ('EPS') for the six months ended 31 March 2023 are expected to be
between US 17 cents and US 18 cents per share with a tolerance of 10%. This is a decrease of between
44.9% to 48.0% relative to the EPS of US 32.7 cents for the six months ended 31 March 2022, which
included a once off item namely accounting for the acquisition of a controlling interest in Karo Mining
Holdings Limited as a “business combination”.

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


Paphos, Cyprus

16 May 2022


 JSE Sponsor
 Investec Bank Limited
 Connect with us on LinkedIn and Twitter 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

 Financial PR Contacts:
 Bobby Morse / Oonagh Reidy
 +44 207 466 5000
 tharisa@buchanan.uk.com

 Broker Contacts:
 Peel Hunt LLP (UK Joint Broker)
 Ross Allister / Georgia Langoulant
 +44 207 7418 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

 Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)
 Carlyle Whittaker
 +27 11 294 0061

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 Tharisa Mine,
located in the south-western limb of the Bushveld Complex, South Africa. The mechanised mine has an 18 year pit
life and can extend operations underground by at least 40 years. Tharisa also owns Karo Mining Holdings a low-cost,
open-pit PGM asset under construction and located on the Great Dyke in Zimbabwe. The Company is committed to
reducing its carbon emissions by 30% by 2030 and the development of a roadmap is continuing to be net carbon
neutral by 2050. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the
London Stock Exchange (LSE: THS).