Tharisa Plc · JSE:THA
Tharisa — 2025 BMO Metals and Mining Conference
13 slides from Tharisa's conference presentation, Feb 26, 2025
Slide 1: The next generation mine to megawatt resource group
The next generation mine to megawatt resource group THARISA GROUP February 2025
Slide 2: Integrated Mine to Megawatt Ecosystem
INTEGRATED MINE TO MEGAWATT ECOSYSTEM Listed resources Group that provides vertical integration to deliver from extraction to critical metals’ applications Focus on efficiency, sustainability and innovation Operations located in key regions Providing leading economies access to ethically sourced cri
Slide 3: Critical Metal Applications - PGMs
CRITICAL METAL APPLICATIONS - PGMS Ru Ir Ru 13.6% 1.9% 4.2% Ir Au 4.4% 8.0% − Primary supply reduction should be the main catalyst for PGM price increases Rh Au − Recycling reduced proportion of supply due to the economics of recycling and 0.2% 4.3% THARISA KARO Pt longer vehicle ownership cycles Rh
Slide 4: Critical Metal Applications – Stainless Steel
CRITICAL METAL APPLICATIONS – STAINLESS STEEL Rest of World EU 2% 10% Other Asia 8% USA India 3% 9% − No substitution for chrome in stainless steel production − Chrome is a designated critical metal Indonesia 8% STAINLESS STEEL − Global stainless steel production increased for the first half of PROD
Slide 5: Stainless Steel Trade Flows
STAINLESS STEEL TRADE FLOWS Source: SMR 5
Slide 6: Critical Metal Applications – Energy Storage
CRITICAL METAL APPLICATIONS – ENERGY STORAGE CUMULATIVE GLOBAL LDES CAPACITY NEEDED Forecast in TWh − According to the International Energy Association IEA by 2030, the world is projected to grow intermittent renewables by 3 times, reaching nearly 50% of the electricity generation capacity 160 TWh −
Slide 7: Security of Critical Raw Material Supply
SECURITY OF CRITICAL RAW MATERIAL SUPPLY SHALLOW MULTIGENERATIONAL MINERALS ASSETS − THARISA MINERALS – FLAGSHIP CO PRODUCT OPEN PIT MINE − Mining right area of 5 475 ha − Mines and processes MG reef from Bushveld Complex, South Africa − Resource of 841. Mt containing 39.1 Moz PGMs and 165.6 Mt chro
Slide 8: Technology and Innovation
TECHNOLOGY AND INNOVATION UNIQUE DOWNSTREAM TECHNOLOGY DEVELOPMENT − ARXO METALS BENEFICIATION SITE − Dedicated commercial pyrometallurgical site – producing novel alloys − Routine production of PGM alloys and first production of novel chrome alloy – technical viability proven − Unique PGM refining
Slide 9: Energy Solutions
ENERGY SOLUTIONS THE FUTURE OF ENERGY STORAGE − REDOX ONE − Long duration energy storage solution – iron chromium redox flow batteries − Safe, cost effective and scalable solution – high temperature stable − Proprietary electrolyte manufacturing processes direct from ores – estimated cost 80% lower
Slide 10: Sustainability at the Core
SUSTAINABILITY AT THE CORE COMMITTED TO ESG − JOB CREATION − 4 879 Group employees and contractors − Stable work environment in challenging sector − Five year wage agreement concluded − EDUCATION AND WELLNESS − Learnerships, bursaries, study assistance, internships and skills and enterprise developm
Slide 11: Profitable and Sustainable Growth
PROFITABLE AND SUSTAINABLE GROWTH SOLID TRACK RECORD TO PROVIDE LONG TERM VALUE PLAY − CRITICAL COMMODITIES − +15 year track record of co-production of minerals critical to sustainable future with operational flexibility − Output of PGMs set to double with development of Karo Platinum − Tharisa is a
Slide 12: Tharisa is an end to end critical metals and energy solution provider
THARISA IS AN END TO END CRITICAL METALS AND ENERGY SOLUTION PROVIDER INNOVATING THE RESOURCES COMPANY OF THE FUTURE 16 years 11 years 10 years US$1.3 bn ~US$112 m ~US$780 m operations cash generative profitable EBITDA generated returned to capital invested shareholders
Slide 13: 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