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')

THARISA PLC TRANSACTION IN OWN SHARES

Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, announces that, in accordance with the terms of its share repurchase programme announced on 29 May 2025 (the 'Repurchase Programme'), it purchased the following number of ordinary shares of USD0.001 each in the Company ('Ordinary Shares') through Peel Hunt LLP ('Peel Hunt'). The Ordinary Shares purchased will be held in treasury for a period not exceeding two calendar years from the repurchase date and, unless reissued, will be cancelled.

Purchases during the period 17 November 2025 to 21 November 2025

Johannesburg Stock Exchange ('JSE') purchases
Date of purchase	17 November 2025 to 21 November 2025
Aggregate number of Ordinary Shares purchased on JSE	10 400
Lowest price paid per share:	ZAR21.4000
Highest price paid per share:	ZAR22.0000
Volume weighted average price paid per share:	ZAR21.6611

The aggregate number of shares purchased on the JSE in terms of the Repurchase Programme since 29 May 2025 is 339 538 shares at an average price of ZAR21.0512 per share and a total cost (including dealing and associated costs) of ZAR7 147 679.94.

London Stock Exchange ('LSE') purchases
Date of purchase	17 November 2025 to 21 November 2025
Aggregate number of Ordinary Shares purchased on LSE	313 375
Lowest price paid per share:	93.00 pence
Highest price paid per share:	97.28 pence
Volume weighted average price paid per share:	95.84 pence

The aggregate number of shares purchased on the LSE in terms of the Repurchase Programme since 29 May 2025 is 3 204 694 shares at an average price of 89.87 pence per share and a total cost (including dealing and associated costs) of GBP2 879 989.66.

Following the purchases during this period, the Company has 302 596 743 Ordinary Shares in issue, of which 8 895 121 Ordinary Shares are held in treasury.

The total number of voting rights in Tharisa is therefore 293 701 622. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The information contained in this update is the responsibility of the board of directors and has not been reviewed or reported on by the Group's external auditors.

During any of Tharisa's closed periods, Peel Hunt will make trading decisions in relation to the Company's securities independently of the Company. Any share purchases during these periods will be undertaken within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares.

Paphos, Cyprus

24 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

[email protected]

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 - delivering on expansion and growth opportunities, commercialising technology solutions

Tharisa is an integrated resource group playing a pivotal role in the global energy transition and the decarbonisation of economies. Leveraging innovation and technology, Tharisa covers the entire value chain-exploration, mining, processing, beneficiation, marketing, sales, and logistics-for platinum group metals (PGMs) and chrome concentrates. The multi-generational Tharisa Mine on the south-western limb of the Bushveld Complex, South Africa-one of the richest sources of PGMs and chrome globally, while development of the Karo Platinum Project, a tier-one PGM project on Zimbabwe's Great Dyke, further reinforces Tharisa's growth strategy. Investments in beneficiation, including chrome and PGM alloy production, add significant downstream value. Tharisa is committed to reducing carbon emissions by 30% by and the sustainability roadmap targets net carbon neutrality by 2050. Through Redox One, Tharisa is advancing proprietary iron chromium redox flow battery technology, utilising the very commodities it mines to support long-duration energy storage-a key component in the transition to renewable energy.

Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the London Stock Exchange (LSE: THS, Equity Shares (Transition) Category).