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 Resources" or "Company")

DEALING IN SECURITIES BY PRESCRIBED OFFICER

In compliance with paragraphs 6.77 to 6.80 of the Listings Requirements of the JSE Limited, the following
information is disclosed:

    Prescribed Officer                               :   Lesego Mataboge
    Company                                          :   Thungela Resources
    Date of transaction                              :   23 March 2026
    Class of securities                              :   Ordinary shares
    Nature of transaction                            :   On-market sale of ordinary shares
    Number of securities                             :   17 090
    Volume weighted average sale price per share     :   R157.27
    Highest sale price per share                     :   R160.30
    Lowest sale price per share                      :   R154.44
    Total value of transaction                       :   2 687 827,55
    Nature of interest                               :   Direct, beneficial
    Clearance obtained                               :   Yes

UK Financial adviser and corporate broker
Panmure Liberum Limited

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

Johannesburg
24 March 2026


       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                                Lesego Mataboge

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

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         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   Price (ZAR)
       volume(s)                  7614     154,44
                                  300      155,00
                                  200      156,50
                                  200      158,00
                                  2248     159,01
                                  200      159,50
                                  365      159,61
                                  189      159,83
                                  1000     159,98
                                  2750     160,15
                                  946      160,16
                                  17       160,17
                                  61       160,24
                                  1000     160,30

d.     Aggregated                 Price: ZAR157,27
       information
       - Aggregated Volume        Volume: 17090
       - Price                    ZAR 2 687 827,55

e.     Date of the                23 March 2026
       transaction

f.     Place of the               XJSE
       transaction

Date: 24-03-2026 03:00:00
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