Director/PDMR Shareholding

Summary by AI ^BETAClose X

On October 1st and 2nd, 2025, Gideon Frederick Smith, a director at Thungela Resources, executed on-market sales of ordinary shares. On October 1st, Smith sold 51,124 shares at a volume-weighted average price of R86.91, with prices ranging from R86.15 to R88.01, for a total value of R4,443,187. The following day, October 2nd, he sold an additional 23,876 shares at a volume-weighted average price of R86.30, with prices ranging from R86.00 to R87.33, resulting in a total transaction value of R2,060,499. Cumulatively, Smith sold 75,000 shares for a total of R6,503,686. The sales were conducted on-market and clearance was obtained for these transactions.

Disclaimer*

Thungela Resources Limited

03 October 2025

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" or "Company")

DEALING IN SECURITIES BY A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, the following information relating to dealing in securities by a Director of Thungela Resources is disclosed:

Director	:	Gideon Frederick Smith
Company	:	Thungela Resources
Date of transaction	:	1 October 2025
Class of securities	:	Ordinary shares
Nature of transaction	:	On-market sale of ordinary shares
Number of securities	:	51,124
Volume weighted average sale price per share		R86,91
Highest sale price per share		R88,01
Lowest sale price per share		R86,15
Total value of transaction	:	R4 443 187
Nature of interest	:	Direct, beneficial
Clearance obtained	:	Yes

Director	:	Gideon Frederick Smith
Company	:	Thungela Resources
Date of transaction	:	2 October 2025
Class of securities	:	Ordinary shares
Nature of transaction	:	On-market sale of ordinary shares
Number of securities	:	23,876
Volume weighted average sale price per share		R86,30
Highest sale price per share		R87,33
Lowest sale price per share		R86,00
Total value of transaction	:	R2 060 499
Nature of interest	:	Direct, beneficial
Clearance obtained	:	Yes

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

UK Financial adviser and corporate broker

Panmure Liberum Limited

Johannesburg

3 October 2025

Notification of Dealing Forms

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gideon Frederick 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
a)	Identification code	ISIN: ZAE000296554
b)	Nature of the transaction	On market sale of shares that have vested in respect of the 2021 Conditional Share Award to settle tax obligations arising from the vesting.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R86,91	51,124
			R86,30	23,876

d)	Aggregated information
	- Aggregated volume	75,000
	- Price	R6,503,686.00
e)	Date of the transaction	1 - 2 October 2025
f)	Place of the transaction	On market

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