Reviewed Condensed Consolidated Interim Financial Statements
for the six months ended 31 March 2014

INTRODUCTORY STATEMENT

Tharisa plc was listed on the Johannesburg Stock Exchange on 10 April 2014. The pro forma financial information has been compiled to present the before and after effect of the issue of bonus shares to ordinary shareholders of Tharisa plc prior to the listing, the private placement, the conversion of the redeemable preference shares to ordinary shares, as well as the part settlement of the Class B Preference shares and Langa Trust loan in Tharisa Minerals (Pty) Ltd from the proceeds of the private placement (“the transaction”).

The pro forma consolidated statement of financial position and statement of comprehensive income of the Group prior to and after the implementation of the transaction is set out below. The pro forma consolidated statement of financial position and statement of comprehensive income of the Group have been presented for illustrative purposes only and may, because of their nature, not give a fair reflection of the Company’s results, financial position and changes in equity following the implementation of the transaction. It has been assumed for purposes of the pro forma financial effects that the transaction was implemented with effect from 1 October 2013 and 31 March 2014 for the statement of comprehensive income and statement of financial position purposes respectively.