Dealings in Securities

Thungela Resources Limited

05 May 2026

 

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 AN EXECUTIVE DIRECTOR

In compliance with paragraphs 6.77 to 6.89 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transaction. The transaction relates to the vesting of conditional share awards subject to a two-year post-vesting holding period by an Executive Director, during which the shares may not be disposed of. The vesting occurred in terms of the Company's 2021 Share Plan and as contemplated in the Remuneration Policy.

Chief Financial Officer:	Deon Smith
Nature of transaction:	Off market vesting of measured conditional shares subject to a further two-year holding period
Vesting Date:	28 April 2026
Class of securities:	Ordinary shares
Number of shares:	17,268
Vesting price:	R156.33
Transaction value:	R2,699,506.44
Nature of interest:	Direct beneficial

The performance conditions for the Award were measured on 27 February 2026.

Vesting price represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 24 April 2026. This equates to R156.33 per share.

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

Johannesburg

4 May 2026

UK Financial adviser and corporate broker

Panmure Liberum Limited

JSE Sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

Notification of Dealing Forms

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Deon Smith
2	Reason for the notification
a)	Position/status	PDMR - Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
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 financial instrument, type of instrument	Ordinary shares of no par value
	Identification code	ISIN: ZAE000296554
b)	Nature of the transaction	Off market vesting of measured conditional shares subject to a further two-year holding period
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R156.33	17,268
d)	Aggregated information
	- Aggregated volume	17,268
	- Price	R2,699,506.44
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	Off market

 

END