Dealings in Securities

Thungela Resources Limited

25 August 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 forfeitable share awards and the subsequent on-market sale of shares by an executive director 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 Executive Officer:	Moses Madondo
Nature of transaction:	On market sale of vested forfeitable shares to settle tax obligations arising from the vesting
Class of securities:	Ordinary shares
Trading date:	20 August 2026
Number of shares:	26,279
VWAP per share:	R117.91
Highest price per share:	R120.08
Lowest price per share:	R112.64
Transaction value:	R3,098,556.89
Nature of interest:	Direct, beneficial

The remaining ordinary shares underlying the unvested forfeitable awards will be held in escrow until they vest subject to the employment conditions being met.

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

Johannesburg

25 August 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	Moses Madondo
2	Reason for the notification
a)	Position/status	PDMR - Chief Executive 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 forfeitable shares to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R117.91	26,279
d)	Aggregated information
	- Aggregated volume	26,279
	- Price	R3,098,556.89
e)	Date of the transaction	20 August 2026
f)	Place of the transaction	On market

 

END