Dealings in securities by directors Thungela Resources Limited Incorporated in the Republic of South Africa (Registration number: 2021/303811/06) ISIN: ZAE000296554 Share Code: TGA ("Thungela") DEALINGS IN SECURITIES ON BEHALF OF DIRECTORS TO SETTLE TAX OBLIGATIONS ARISING FROM THE VESTING OF CONDITIONAL RETENTION AWARDS Shareholders are advised of the following dealings on behalf of Thungela executive directors pursuant to the vesting, on 4 June 2022, of 50% of the conditional retention awards granted in 2021. Chief Executive Officer: J Ndlovu Date of transaction: 7 June 2022 Nature of transaction: On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting Class of securities: Ordinary shares Number of securities: 202,423 Deemed price per security: R249.88 Deemed value of transaction: R50,581,459.24 Nature of interest: Direct beneficial Chief Financial Officer: GF Smith Date of transaction: 7 June 2022 Nature of transaction: On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting Class of securities: Ordinary shares Number of securities: 101,211 Deemed price per security: R249.88 Deemed value of transaction: R25,290,604.68 Nature of interest: Direct beneficial The remaining 50% of the conditional retention awards will vest on 4 June 2023, subject to employment conditions being met. The ordinary shares underlying the conditional retention awards will be held in a non-tradable account. The ordinary shares will remain restricted until such time as vesting occurs. Clearance to deal in terms of the JSE Listings Requirements was obtained. Rosebank 28 June 2022 UK Financial adviser and corporate broker Liberum Capital Limited Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Notification of Dealing Forms 1 Details of the person discharging managerial responsibilities / person closely associated a) Name July Ndlovu 2 Reason for the notification a) Position/status PDMR – Chief Executive Officer 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 Ordinary shares of no par value instrument, type of instrument Identification code ISIN: ZAE000296554 b) Nature of the transaction On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting Price(s) and volume(s) c) Price(s) Volume(s) R249.88 202,423 d) Aggregated information - Aggregated volume 202,423 - Price R50,581,459.24 e) Date of the transaction 7 June 2022 f) Place of the transaction On market 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Deon Smith 2 Reason for the notification a) Position/status PDMR – Chief Financial Officer 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 Ordinary shares of no par value instrument, type of instrument Identification code ISIN: ZAE000296554 b) Nature of the transaction On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting c) Price(s) and volume(s) Price(s) Volume(s) R249.88 101,211 d) Aggregated information - Aggregated volume 101,211 - Price R25,290,604.68 e) Date of the transaction 7 June 2022 f) Place of the transaction On market Date: 28-06-2022 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.