THARISA PLC - Tharisa signs New Debt Facilities with Absa Bank Limited and the Standard Bank of South Africa Limited

Tharisa signs New Debt Facilities with Absa Bank Limited and the Standard Bank of South Africa Limited

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' or the 'Group')

THARISA SIGNS NEW DEBT FACILITIES WITH ABSA BANK LIMITED AND THE STANDARD BANK OF SOUTH AFRICA LIMITED

Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London
stock exchanges, is pleased to announce it has, subject to the fulfilment of certain conditions
precedent, signed a US$130 million debt facility (the 'Facility') with Absa Bank Limited (acting through
its Corporate & Investment Banking division), as initial mandated lead arranger and co-mandated lead
arranger, and the Standard Bank of South Africa Limited (acting through its Corporate & Investment
Banking division) as co-mandated lead arranger, as part of the Company's ongoing debt capital
programme.

The Facility comprises a four-year term loan of US$80 million (with an accordion of
US$20 million) and a revolving ZAR900 million (c.US$50 million) credit facility, with the application of
funds being applied in prepaying the balance of the existing term loan and revolving credit facility,
general corporate and working capital purposes including investing in the sustainability of the Tharisa
Mine.

Michael Jones, CFO of Tharisa, commented:

"We are pleased to have successfully executed the debt facilities agreement, an important milestone
in strengthening our capital structure and positioning the Tharisa Mine for long-term sustainable
growth, as we transition to underground mining. This transaction reduces our overall cost of capital,
extends our debt maturities, and enhances financial flexibility—allowing us to better navigate
changing market conditions and continue investing in our strategic priorities.

The enhanced balance sheet reinforces our commitment to prudent financial management and value
creation for shareholders. I want to thank our lending partners for walking this exciting journey with
us, and our advisors for their support throughout this process."

Cash Balance and Debt Position as at 30 September 2025

Group cash on hand of US$173.0 million (30 June 2025: US$164.6 million), and debt of
US$104.4 million (30 June 2025: US$121.5 million), resulting in a net cash position of US$68.6 million
(30 June 2025: US$43.1 million).


Paphos, Cyprus
12 November 2025
JSE Sponsor
Investec Bank Limited

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Investor Relations Contacts:
Ilja Graulich (Head of Investor Relations and Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com

Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 418 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


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 multi-generational Tharisa Mine, located in the south-western limb of
the Bushveld Complex, South Africa. Tharisa is also developing the Karo Platinum Project, a tier-one
PGM asset located on the Great Dyke in Zimbabwe, while simultaneously focusing on beneficiation in
the form of chrome and PGM alloys. A 15-year Power Purchase Agreement for the procurement of
wheeled renewable energy and a 40 MW solar project will ensure that Tharisa Minerals' drive to
reduce its carbon footprint by 30% by 2030 is well within reach, forming a major part of a roadmap to
become net carbon neutral by 2050. Redox One is accelerating the development of a proprietary iron
chromium redox flow long-duration battery utilising the commodities we mine. Tharisa plc is listed on
the Johannesburg Stock Exchange (JSE: THA) and has an Equity Shares (Transition) Category listing on
the London Stock Exchange (LSE: THS).

Date: 12-11-2025 07:05:00
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