THUNGELA RESOURCES LIMITED - Dealings in securities by the company's 2021 Share Plan

Dealings in securities by the company's 2021 Share Plan

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")

DEALINGS IN SECURITIES BY THE COMPANY'S 2021 SHARE PLAN

In compliance with paragraph 6.90 of the Listings Requirements of the JSE Limited ("the JSE
Listings Requirements"), shareholders are advised of the following transactions. The transactions
relate to the on-market sale of shares whose vesting was accelerated for no fault / good leavers
by the Company's 2021 Share Plan. The sale was undertaken in accordance with the rules of the
Share Plan.

 Nature of transaction:                     On-market sale of securities
 Class of securities:                       Ordinary shares
 Date:                                      26 March 2026
 Number of shares:                          51,009
 VWAP per share:                            R155.90
 Highest price per share:                   R161.99
 Lowest price per share:                    R153.54
 Transaction value:                         R7,952,303
 Nature of interest:                        Direct beneficial

Clearance for these transactions has been obtained in accordance with paragraph 6.83 of the
JSE Listings Requirements.

Johannesburg
27 March 2026

UK Financial adviser and corporate broker
Panmure Liberum Limited

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

Date: 27-03-2026 04:00:00
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