Tharisa PLC — Major Shareholding Notification 2026

Jan 29, 2026

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 ‘Group’)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS

1a. Identity of the issuer or the underlying issuer ofexisting shares to which voting rights are attachedii**:**	Tharisa plc	Tharisa plc
1b. Please indicate if the issuer is a non-UK issuer(please mark with an “X” if appropriate)
Non-UK issuer		x
2. Reason for the notification(please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights		x
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name	Rance Holdings Limited
City and country of registered office (if applicable)	British Virgin Islands
4. Full name of shareholder(s)(if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi**:**	23 January 2026
6. Date on which issuer notified (DD/MM/YYYY):	27 January 2026

Page 1 of 6

7. Total positions of person(s) subject to the notification obligation

7. Total positions of person(s) subject to the notification obligation	7. Total positions of person(s) subject to the notification obligation	7. Total positions of person(s) subject to the notification obligation	7. Total positions of person(s) subject to the notification obligation	7. Total positions of person(s) subject to the notification obligation
	% of voting rightsattached to shares(total of 8. A)	% of voting rightsthrough financialinstruments(total of 8.B 1 +8.B 2)	Total of both in %(8.A + 8.B)	Total number ofvotingrightsheld in issuer(8.A + 8.B)vii
Resultingsituationon the date on whichthresholdwascrossed or reached	9.4597%	0%	9.4597%	27,726,509
Position of previousnotification (ifapplicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

viii

A: Voting rights attached to shares

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii	8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type ofsharesISIN code (ifpossible)	Number of voting rightsix		% of voting rights
	Direct(DTR5.1)	Indirect(DTR5.2.1)	Direct(DTR5.1)	Indirect(DTR5.2.1)
Ordinary shares		27,726,509		9.4597%
SUBTOTAL 8. A	27,726,509		9.4597%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

B 1: Financial Instruments according to DTR5.3.1R (1) (a)	B 1: Financial Instruments according to DTR5.3.1R (1) (a)	B 1: Financial Instruments according to DTR5.3.1R (1) (a)	B 1: Financial Instruments according to DTR5.3.1R (1) (a)	B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type offinancialinstrument	Expirationdatex	Exercise/ConversionPeriodxi	Number of votingrights that may beacquired if theinstrument isexercised/converted.	% ofvotingrights
		SUBTOTAL 8. B 1

Page 2 of 6

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)	B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)	B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)	B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)	B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)	B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type offinancialinstrument	Expirationdatex	Exercise/ConversionPeriodxi	Physical or cashSettlementxii	Number of votingrights	% ofvotingrights
			SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer[xiii]

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or X legal entity (please add additional rows as necessary)[xiv]

Namexv	% of voting rights if itequals or is higherthan the notifiablethreshold	% of voting rightsthrough financialinstruments if it equalsor is higher than thenotifiable threshold	Total of both if itequals or ishigher than thenotifiablethreshold
CTF Services Limited	9.4597%	0.00%	9.4597%
CTFS Management Limited	9.4597%	0.00%	9.4597%
CTF Financial Holdings Limited	9.4597%	0.00%	9.4597%
NWS Financial ManagementServices Limited	9.4597%	0.00%	9.4597%
Rance Holdings Limited	9.4597%	0.00%	9.4597%

10. In case of proxy voting, please identify:

10. In case of proxy voting, please identify:	10. In case of proxy voting, please identify:
Name of the proxy holder	N/A
The number and % of voting rights held	N/A
The date until which the voting rights will be held	N/A

Page 3 of 6

11. Additional information[xvi]

Place of completion	Hong Kong
Date of completion	28 January 2026

Paphos, Cyprus 29 January 2026

JSE Sponsor

Investec Bank Limited

Connect with us on LinkedIn to get further news and updates about our business.

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 – 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 PGMs and chrome concentrates. The low cost, multigenerational Tharisa Mine is located on the southwestern limb of the Bushveld Complex, South Africa, the largest source of PGMs and chrome globally.

Page 4 of 6

Development of the Karo Platinum Project, a tier-one PGM project on Zimbabwe’s Great Dyke, further reinforces Tharisa’s growth strategy. Investments in downstream beneficiation, including proven chrome and PGM alloy production, will add significant value when commercialised. Tharisa is committed to reducing carbon emissions by 30% by 2030 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).

Paphos, Cyprus

29 January 2026

JSE Sponsor

Investec Bank Limited

Connect with us on LinkedIn to get further news and updates about our business.

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

Page 5 of 6

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 PGMs and chrome concentrates. The low cost, multigenerational Tharisa Mine is located on the southwestern limb of the Bushveld Complex, South Africa, the largest source of PGMs and chrome globally. Development of the Karo Platinum Project, a tier-one PGM project on Zimbabwe’s Great Dyke, further reinforces Tharisa’s growth strategy. Investments in downstream beneficiation, including proven chrome and PGM alloy production, will add significant value when commercialised. Tharisa is committed to reducing carbon emissions by 30% by 2030 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).

Page 6 of 6