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 2022

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 FY2022 financial year, with the Reviewed Interim Condensed Consolidated Financial Statements expected to be released on or about
26 May 2022. 

Tharisa's basic earnings per share ('EPS') for the six months ended 31 March 2022 are expected to be between US$ 32.0 cents per share and US$ 33.0 cents per share with a tolerance of 10%.  This is an increase of 49.5% to 54.2% relative to the EPS of US$ 21.4 cents for the six months ended 31 March 2021 and is after accounting for the acquisition of a controlling interest in Karo Mining Holdings Limited as a "business combination".

Tharisa's headline earnings per share ('HEPS') for the six months ended 31 March 2022 are expected to be between US$ 15.0 cents per share and US$ 16.0 cents per share with a tolerance of 10%.  This is a decrease of 31.5% to 26.9% relative to the HEPS of US$ 21.9 cents per share for the six months ended
31 March 2021. 

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

Paphos, Cyprus

20 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

[email protected]

Financial PR contacts:

Bobby Morse / Ariadna Peretz / James Husband

+44 207 466 5000

[email protected]

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / David McKeown / Alexander Allen

+44 207 7418 8900

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Pascal Lussier Duquette / 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 mining, processing, exploration, 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 a 20-year open-pit life and the ability to extend operations underground by at least an additional 40 years. Tharisa also owns Karo Mining Holdings and Salene Chrome, development stage, low-cost, open-pit PGM and chrome assets respectively, 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).