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
 Date of transaction                                 :   24 March 2026
 Class of securities                                 :   Ordinary shares
 Nature of transaction                               :   On-market sale of ordinary shares
 Number of securities                                :   10,000
 Price per share                                     :   R166.58
 Total value of transaction                          :   R1 665 800
 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
30 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                                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                        Volume Price (ZAR)
       volume(s)                           10000 166,58
d.     Aggregated                          Price: ZAR166,58
       information
        - Aggregated Volume                Volume: 10000
        - Price                            ZAR 1 665 800
e.     Date of the                         24 March 2026
       transaction
f.     Place of the                        XJSE
       transaction

Date: 30-03-2026 04:30:00
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