Tharisa Plc · JSE:THA
Tharisa — Shanghai Platinum Week China PGMs Market Summit 2026
22 slides from Tharisa's conference presentation, July 2026
Slide 1: Redefining resources, Innovating with purpose, Empowering futures
Redefining resources Innovating with purpose Empowering futures Shanghai Platinum Week China PGMs Market Summit July 2026
Slide 2: Our three pillars
Redefining resources Karo Platinum About us Our three pillars Our strategy is built on three pillars that harness our people and innovation to drive sustainable growth, operational excellence and long term, shared stakeholder value Redefining Innovating Empowering resources with purpose futures Opti
Slide 3: At a glance
Redefining resources Karo Platinum About us At a glance O P E R AT I O N S Tharisa Minerals Karo Platinum Tharisa is an integrated PGM and chrome resource group OPEN PIT LOM OPEN PIT LOM advancing the global energy transition and the decarbonisation of economies. 8+ years 10+ years UNDERGROUND POTEN
Slide 4: Geographical and operational footprint
Redefining resources Karo Platinum About us Geographical and operational footprint DORTMUND & CYPRUS CYPRUS Redox One Arxo Resources Our trading division, has built a robust, Our proprietary iron chromium redox flow established platform of global customers, battery technology operation, supporting i
Slide 5: Vision 2030
Redefining resources Karo Platinum About us Vision 2030 Delivering on expansion and growth opportunities, commercialising technology solutions Top 7 in PGM and top 4 in chrome production globally by 2029 ARXO METALS Commercial operations to KARO PLATINUM produce final metals – PGMs, chrome alloys an
Slide 6: Critical minerals palette
Redefining resources Karo Platinum About us Critical minerals palette 9 of the 60 critical minerals are in Tharisa plc’s inventory 4E RESOURCES PRILL SPLIT 1 (%) Platinum Palladium Rhodium Gold 12 8 7 7 5 9 5 7 10 8 6 4 5 21 30 28 28 31 45 40 42 45 62 67 60 62 62 57 44 47 45 45 29 Tharisa Sibanye No
Slide 7: PGMs: six future-proof demand engines
Redefining resources Karo Platinum About us PGMs: six future-proof demand engines Increasing demand from AI, hydrogen, defence, health and the energy transition; layered onto record deficits Pt Pd Rh Ru Ir THARISA + KARO PGM BASKET 1 082 koz 2025 platinum deficit — largest on record RU · PT · AI DAT
Slide 8: Chrome: the strategic metal of the build-out
Redefining resources Karo Platinum About us Chrome: the strategic metal of the build-out No substitute to stainless steel — the structural backbone of AI data centres, robotics, defence and energy storage additional chrome concentrate Cr LARGEST PGM-CHROME CO-PRODUCER · CRITICAL METAL +1.8 Mtpa requ
Slide 9: Building sustainability throughout our value chain
Redefining resources Building sustainability throughout our value chain Apollo Portal Development, May 2026 9
Slide 10: Tharisa Minerals
About us Karo Platinum Redefining resources Tharisa Minerals THARISA MINES AND PROCESSES THE MG CHROMITITE LAYERS OF Flagship co-product mine THE BUSHVELD COMPLEX MINING RIGHT OVER 2026 OPERATIONAL HIGHLIGHTS 5 475 ha Large scale, stable, long life asset with Successful first blast at the Tharisa Mi
Slide 11: Karo Platinum
About us Redefining resources Karo Platinum Karo Platinum MINING RIGHT OVER MULTIGENERATIONAL 23 903 ha Unlocking Zimbabwe’s mineral wealth MINE UNDER for a sustainable future CONSTRUCTION RESOURCES 178.2 Mt containing 12.0 Moz PGMs Historic declared resource of 96.4 Moz over lease area RESERVES KEY
Slide 12: Karo Platinum
About us Redefining resources Karo Platinum 12
Slide 13: Locality
About us Redefining resources Karo Platinum LOCALITY Ru Ir Rh 4% 2% o Safety 4% Hartley Platinu Zimplats • 2025 LTIFR: 0.00 Au m 641 kozpa 8% Pt Karo Ngezi Platinum o Mineral Resource and Mineral Reserve 42% Mine Unki Mine US$2 012/oz 244 kozpa • Open pit resource: 12.0 Moz 6E PGM 3 July 2026 Mimosa
Slide 14: Karo Platinum
About us Redefining resources Karo Platinum 14
Slide 15: Mining right over 23 903 ha
About us Redefining resources Karo Platinum MINING RIGHT OVER 23 903 HA • Compact site development with access to national roads Solar plant Chirundazi Dam Camp 132kV Powerline TSF Karo Substation Mine Pit KPE SE Concentrator Chingazi Dam Mining Contractor 15
Slide 16: Karo Platinum
About us Redefining resources Karo Platinum 16
Slide 17: Project derisked
About us Redefining resources Karo Platinum PROJECT DERISKED o Exploration • 70 km of open pit exploration drilling; high level of confidence in both resource and reserves • Underground exploration drilling of 26 km completed, +50 year potential • Current CPR April 2026 o Mining • Mine design comple
Slide 18: Karo Platinum Open Pit Development
About us Redefining resources Karo Platinum Karo Platinum OPEN PIT DEVELOPMENT 18
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Slide 20: Unlocking world class value
UNLOCKING WORLD CLASS VALUE • Tier 1 asset, multi-generational • De-risked, near term production • Exceptional returns & low cost • Strong ESG commitment and partnerships • Strategic location & market impact replacing depleting reserves • US$241 m investment to date PARTNERING FOR GROWTH, INNOVAT
Slide 21: Questions
Questions Meet SPOT 21
Slide 22: Disclaimer
Disclaimer These Presentation Materials are for information purposes only and must not be used or relied upon for the purpose of making any investment decision or engaging in any investment activity. Whilst the information contained herein has been prepared in good faith, neither Tharisa plc (the ‘C
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