THUNGELA RESOURCES LIMITED - Dealings in securities by a director

Dealings in securities by a director

THUNGELA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2021/303811/06
JSE Share Code: TGA
LSE Share Code: TGA
ISIN: ZAE000296554
Tax number: 9111917259
(‘Thungela’ or the ‘Company’ and, together with its affiliates, the 'Group')

DEALINGS IN SECURITIES BY A DIRECTOR

Award and acceptance of shares and disposal of a portion of shares awarded

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited
(“the Listings Requirements”), we hereby provide the following information regarding the award and
acceptance of shares pertaining to the 2021 demerger of the Company from Anglo American plc and the
award, by Anglo American plc, of 1 Thungela Resources share for every 10 Anglo American plc shares
held on listing date, being 7 June 2021.

The award is made and accepted by the undermentioned Non-Executive Director:


Name                  Designation               Number of         Number of       Net shares   Value of
                                                shares            shares sold     awarded      shares
                                                awarded           to cover tax                 awarded*
                                                                  liability and
                                                                  commission

Seamus Gerard         Non-executive Director    6 020             401 at          5 619        £48,604.35
French                                                            £8.650001
                                                                  per share

*based on £8.650001 per share, being the closing price on 24 March 2022. The Rand value at an exchange
rate of R19.18 / £1 on 24 March 2022 is R932,231.43.

The requisite clearance and approval for this transaction has been obtained in compliance with the
Securities Dealing Policies and Procedures of Thungela and with paragraph 3.66 of the Listings
Requirements.

Date of SENS release: 25 March 2022

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com
Media Contacts

Tarryn Genis
Email: tarryn.genis@thungela.com

UK Financial adviser and corporate broker
Liberum Capital Limited
Tel: +44 20 3100 2000

Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)

In compliance with the UK Listings Requirements, we hereby provide the following information regarding the
award to and acceptance of the conditional long term incentive awards:

1       Details of the person discharging managerial responsibilities / person closely
        associated
a)      Name                            Seamus French
2       Reason for the notification
a)      Position/status                 PDMR – Non-Executive Director
b)      Initial notification            Initial notification
        /Amendment
3       Details of the issuer, emission allowance market participant, auction platform,
        auctioneer or auction monitor
a)      Name                            Thungela Resources Limited
b)      LEI                             213800EGYK3BN3SRIF27
4       Details of the transaction(s): section to be repeated for (i) each type of
        instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
        where transactions have been conducted
a)      Description of the financial    Award of 6020 Ordinary shares of no par value and
        instrument, type of             sale of 401 Ordinary shares of no par value
        instrument
        Identification code             ISIN: ZAE000296554
b)      Nature of the transaction       Vesting of Thungela shares
c)      Price(s) and volume(s)
                                        Price(s)              Volume(s)
                                        nil                   6020
                                        £8.650001             401
d)      Aggregated information
        - Aggregated volume             n/a – single award and single sale
        - Price
e)      Date of the transaction         24 March 2022
f)      Place of the transaction        Off market

Date: 25-03-2022 10:00:00
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