Merafe forecasts H1 EPS up 110%-130% on higher commodity prices

• Merafe flagged a sharp first-half production slump, with attributable ferrochrome output down 75% to 28 kt.
• Attributable chrome ore production slipped 4% to 425 kt; PGM concentrate output fell 5% to 6.7 koz.
• First-half EPS seen at 19.5-21.4 cents, up 110%-130% from 9.3 cents; HEPS forecast at 19.5-22.0 cents, up 55%-75%.
• Cash and cash equivalents and balances held with Central Treasury rose to ZAR 1.59 billion from ZAR 1.16 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Merafe Resources Ltd. published the original content used to generate this news brief via SENS, the regulatory disclosure system operated by the Johannesburg Securities Exchange (JSE) (Ref. ID: S524650), on July 27, 2026, and is solely responsible for the information contained therein.