RESULTS PRESENTATION

For the six months ended 30 June 2022

LEGAL NOTICE/DISCLAIMER

This presentation is published solely for informational purposes and does not constitute investment, legal, tax or other advice nor is it to be relied upon in making an investment decision. Information contained herein has been taken from sources considered by Merafe Resources to be reliable but no warranty is given that such information is accurate or complete and it should not be relied upon as such. Views and opinions expressed in this presentation reflect the judgment of Merafe Resources as of the date of this presentation and are subject to change. Merafe Resources will not be responsible for any liability for loss or damage of any kind which arises, directly or indirectly, and is caused by the use of any of the information provided. The entire presentation is subject to copyright with all rights reserved. The information contained herein shall not be published, rewritten for broadcast or publication or redistributed in any medium without prior written consent from Merafe Resources. Prospective investors should take appropriate investment advice and inform themselves as to applicable legal requirements, exchange control regulations and tax considerations in the countries of their citizenship, residence or domicile. The distribution of the information contained in this presentation in certain countries may be restricted by law and persons who access it are required to inform themselves and to comply with any such restrictions. This information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Past performance is not a guarantee of future performance. The price of shares can go down as well as up and may be affected by change in exchange rates, market conditions and risks associated with a mining venture.

MERAFE RESOURCES LIMITED RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 JUNE 2022

1

AGENDA

KEY FEATURES

3

MARKET REVIEW

5

OPERATIONAL REVIEW

10

FINANCIAL REVIEW

17

DIVIDEND

26

OUTLOOK

28

MERAFE RESOURCES LIMITED RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 JUNE 2022

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KEY FEATURES

MERAFE RESOURCES LIMITED RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 JUNE 2022

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COMMODITIES MARKET BUOYANCY CONTINUES

HEALTH AND SAFETY

  • No fatalities
  • TRIFR decreased by 11% (from December 2021)
  • COVID-19:
    • 94% of the workforce vaccinated (either partially or fully)
    • COVID-19protocols continue to be observed

OPERATIONAL

  • Marginally higher ferrochrome and chrome ore production
  • Smelting production efficiencies sustained
  • Cost pressures continue
  • Logistics challenges persist

MARKET

  • Global market uncertainty
  • Decrease in stainless steel production
  • Improvement in prices

FINANCIAL

  • Revenue up by 15% period on period
  • Headline earnings per share of 37.0 cents
  • Interim ordinary dividend of 12 cents per share declared

MERAFE RESOURCES LIMITED RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 JUNE 2022

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Merafe Resources Ltd. published this content on 22 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 14:47:02 UTC.