THUNGELA RESOURCES LIMITED - Dealing in securities by non-executive director

Dealing in securities by non-executive director

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 NON-EXECUTIVE DIRECTOR

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

 Director                                            :     Seamus French
 Company                                             :     Thungela Resources
 Class of securities                                 :     Ordinary shares
 Nature of transaction                               :     On-market sale of ordinary shares
 Nature of interest                                  :     Direct, beneficial
 Clearance obtained                                  :     Yes

 Dates:                   Number of            Price per        Transaction values:
                          shares:              share:
 27 March 2026            10,000               R163.74          R1 637 400
 31 March 2026            10,816               R168.98          R1 827 688



UK Financial adviser and corporate broker
Panmure Liberum Limited

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

Johannesburg
2 April 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                                 Seamus French

2      Reason for notification
a.     Position/Status                      Non-Executive Director / 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               Price(s)      Volume(s)
       volume(s)                  R163.74 10,000
                                  R168.98 10,816
d.     Aggregated
       information
        - Aggregated Volume       20,816
        - Price                   ZAR 3 465 088
e.     Date of the                27 and 31 March 2026
       transaction
f.     Place of the               XJSE
       transaction

Date: 02-04-2026 12:00:00
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