Dealings in Securities

Summary by AI ^BETAClose X

Thungela Resources Limited announced that several prescribed officers have sold ordinary shares on market on April 28, 2026, to settle tax obligations arising from the vesting of conditional share awards. The Chief Operations Officer sold 6,060 shares for R847,127.40, the Executive Head of Technical sold 5,263 shares for R735,714.77, the Executive Head of Human Resources and the Executive Head of Corporate Affairs each sold 3,739 shares for R522,674.81, and the Executive Head of Marketing sold 4,481 shares for R626,398.99. All sales occurred at a volume-weighted average price of R139.79 per share.

Disclaimer*

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 PRESCRIBED OFFICERS

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 transactions. The transactions relate to the vesting of conditional share awards and the subsequent on market sale of shares by prescribed officers to settle tax obligations arising from such vesting. The vesting occurred in terms of the Company's 2021 Share Plan and as contemplated in the Remuneration Policy.

Chief Operations Officer:	Johan van Schalkwyk
Nature of transaction:	On market sale of vested conditional shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	28 April 2026
Number of shares:	6,060
VWAP per share:	R139.79
Highest price per share:	R141.38
Lowest price per share:	R136.19
Transaction value:	R847,127.40
Nature of interest:	Direct beneficial

Executive Head of Technical:	Leslie Martin
Nature of transaction:	On market sale of vested conditional shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	28 April 2026
Number of shares:	5,263
VWAP per share:	R139.79
Highest price per share:	R141.38
Lowest price per share:	R136.19
Transaction value:	R735,714.77
Nature of interest:	Direct beneficial

Executive Head of Human Resources:	Lesego Mataboge
Nature of transaction:	On market sale of vested conditional shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	28 April 2026
Number of shares:	3,739
VWAP per share:	R139.79
Highest price per share:	R141.38
Lowest price per share:	R136.19
Transaction value:	R522,674.81
Nature of interest:	Direct beneficial

Executive Head of Corporate Affairs:	Mpumi Sithole
Nature of transaction:	On market sale of vested conditional shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	28 April 2026
Number of shares:	3,739
VWAP per share:	R139.79
Highest price per share:	R141.38
Lowest price per share:	R136.19
Transaction value:	R522,674.81
Nature of interest:	Direct beneficial

Executive Head of Marketing:	Bernard Dalton
Nature of transaction:	On market sale of vested conditional shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	28 April 2026
Number of shares:	4,481
VWAP per share:	R139.79
Highest price per share:	R141.38
Lowest price per share:	R136.19
Transaction value:	R626,398.99
Nature of interest:	Direct beneficial

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	Johan van Schalkwyk
2	Reason for the notification
a)	Position/status	PDMR - Chief Operations 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	On market sale of vested conditional shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R139.79	6,060

d)	Aggregated information
	- Aggregated volume	6,060
	- Price	R847,127.40
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	On market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Leslie Martin
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Technical
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	On market sale of vested conditional shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R139.79	5,263

d)	Aggregated information
	- Aggregated volume	5,263
	- Price	R735,714.77
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	On market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Lesego Mataboge
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Human Resources
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	On market sale of vested conditional shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R139.79	3,739

d)	Aggregated information
	- Aggregated volume	3,739
	- Price	R522,674.81
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	On market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mpumi Sithole
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Corporate Affairs
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	On market sale of vested conditional shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R139.79	3,739

d)	Aggregated information
	- Aggregated volume	3,739
	- Price	R522,674.81
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	On market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bernard Dalton
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Marketing
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	On market sale of vested conditional shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R139.79	4,481

d)	Aggregated information
	- Aggregated volume	4,481
	- Price	R626,398.99
e)	Date of the transaction	28 April 2026
f)	Place of the transaction	On market

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