THUNGELA RESOURCES LIMITED - Dealing in securities by prescribed officer

Dealing in securities by prescribed officer

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
JSE share code: TGA
LSE share code: TGA
("Thungela" or "Company")

DEALING IN SECURITIES BY PRESCRIBED OFFICER

In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, the following
information relating to dealing in securities by a prescribed officer of Thungela Resources is disclosed:

 Prescribed Officer                                     :   Nompumelelo Sithole
 Company                                                :   Thungela Resources
 Date of transaction                                    :   2 December 2025
 Class of securities                                    :   Ordinary shares
 Nature of transaction                                  :   On-market sale of ordinary shares
 Number of securities                                   :   8 000
 Sale price per share                                   :   R81.89
 Total value of transaction                             :   R655 120
 Nature of interest                                     :   Direct, beneficial
 Clearance obtained                                     :   Yes

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

UK Financial adviser and corporate broker
Panmure Liberum Limited

Johannesburg
5 December 2025


         Notification and public disclosure of transactions by persons discharging managerial
                        responsibility and persons closely associated with them.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1    Details of the person discharging managerial responsibilities/person closely associated
a.   Name                              Nompumelelo Sithole

2    Reason for notification
a.   Position/Status                   PDMR
b.   Initial notification/Amendment    Initial

3    Details of the issuer, emission allowance market participant, auction platform, auctioneer or
     auction monitor
a.   Name                              Thungela Resources Limited
b.   LEI                               213800EGYK3BN3SRIF27

     Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each
4    type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.   Description of the      Ordinary shares of no par value
     financial instrument,
     type of instrument      ISIN: ZAE000296554
     Identification Code     SEDOL: BMV3M27
b.   Nature of the           Sale of Shares
     transaction
c.   Price(s) and            Volume 8000         Price   R81.89
     volume(s)
d.   Aggregated              Price: ZAR81.89
     information
     - Aggregated Volume     Volume: 8000
     - Price                 ZAR655 120
e.   Date of the             2 December 2025
     transaction
f.   Place of the            XJSE
     transaction

Date: 05-12-2025 11:30:00
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