Tharisa Plc · JSE:THA
Tharisa — BMO Global Metals, Mining & Critical Minerals Conference 2023
15 slides from Tharisa's conference presentation, Feb 26, 2023
Slide 1: Corporate Presentation – BMO Global Metals, Mining & Critical Minerals Conference
tharisa THARISA PLC Corporate Presentation BMO Global Metals, Mining & Critical Minerals Conference February 2023 enriching lives through innovating the resources company of the future
Slide 2: Cornerstones of our business
CORNERSTONES OF OUR BUSINESS im) LONG LIFE RESOURCES SOCIAL COMMITTMENT INNOVATIVE THINKING PEOPLE @® © &€ *Mineral Resource and Mineral Reserve Statement in 2022 Annual Report tha risa enriching lives through innovating the resources company of the future 2
Slide 3: Long life portfolio
wD LONG LIFE PORTFOLIO Mineral Inventory of ~ 849.6 Mt at Tharisa Mine 18y open pit life at Tharisa Minerals Victoria Falls Karo Platinum Salene Chrome 40y underground LOM potential 152.1 Mt at Karo Platinum 17y open pit life at Karo Platinum Explored less than 10% of the 23 903 ha at Karo Historica
Slide 4: Our positive impact
B® OUR POSITIVE IMPACT JOB CREATION - 3.965 employees at end September (Group employees and contractors) — +100 jobs created in Zimbabwe and 100 contractors on site — +22% female employees — No days lost to industrial action — Four year wage agreement ends in June 2024 Ae EDUCATION AND WELLNESS 7 a
Slide 5: An ethos of innovation
ep AN ETHOS OF INNOVATION Greenfield discovery to mine development Pit to port strategy Disciplined, sustainable growth Innovation is at the core of Tharisa’s ethos Key strategic projects under R&D at AMBS Technology the key enabler for differentiation Energy storage solutions THARISA MINE & MG reef
Slide 6: People
—~ wt] PEOPLE tharisa
Slide 7: Resources company of the future
RESOURCES COMPANY OF THE FUTURE =f. & IN COMVAINED Pas CRORE IN MINERAL RESOURCE IN CONTAINED CR,O3~ o 9 9 o 9 INTEGRATED +17 YEAR GROWTH R&D PROFITABLE CONSISTENT PGM and chrome LOM open pits pipeline to double PGM developing innovative end throughout dividend payer co-producer - assets +40 YEAR ou
Slide 8: The right commodity mix
THE RIGHT COMMODITY MIX US$2 196/oz US$295/t SPOT PGM BASKET PRICE SPOT MET GRADE PRICE tharisa Primary supply growth constraints PGMs Deficits in Rh, Pd to remain, Pt heading towards a deficit ICE remains a major demand driver despite EV development Growth of the hydrogen economy to drive demand PG
Slide 9: FY2022 - The vital numbers
FY2022 - THE VITAL NUMBERS tharisa REEF MINED 5.50 Mt up 2.3% stripping ratio of 12.8 m3:m3 (2021: 5.38 Mt) REVENUE US$686.0 m up 15.0% (2021: US$596.3 m) PROFIT BEFORE TAX US$220.2 m up 18.9% (2021: US$185.3 m) US 53.8 cents up 44.1% (2021: US 37.4 cents) PGM PRODUCTION (6E) 179.2 koz up 13.6% ecov
Slide 10: Value proposition
tharisa VALUE PROPOSITION
Slide 11: Karo Phase One - Investment highlights
KARO PHASE ONE - INVESTMENT HIGHLIGHTS Throughput Avg. LOM 6E Production LOM (Reserves M&l) ROM grade Strip ratio Recovery Tax holiday PGM basket price Base metal blended price Cash cost Cost to FOIM 205 ktpm ~190 kozpa (first ore in mill exp. July 24) 17 years 3.0 6E g/t (average)” 21.6 m3:m3 avera
Slide 12: Karo + Tharisa = key future supply
KARO + THARISA = KEY FUTURE SUPPLY KARO THARISA COMPARISON UNIT PHASE 1* OPEN PIT** LOM OPEN PIT FROM EACH OPERATION + 1 7 yea rs Open pit LOM years 7 18 Resource ounces 4E Moz 96.4 31.3 REEF MINED PER ANNUM Reserve Mt 35.5 88.2 +7 . 5 Mt Reserve ounces 4E Moz 25 3.1 PGM production kozpa 194 200 PGM
Slide 13: Delivering on our strategy
DELIVERING ON OUR STRATEGY Expand and roll out the business sustainably Optimise existing operation Continuing to invest in innovative thinking Become a globally diversified business Be the investment of choice in our chosen sector wy —+ Responsibly enrich the lives of all our stakeholders tharisa =
Slide 14: Questions
QUESTIONS tharisa NOM@CUGNOMmG@emmane) © ccember 2022 enriching lives through innovatir future 14
Slide 15: 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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