Confirmation of treasury shares held

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' and, together with its affiliates, the 'Group')

CONFIRMATION OF TREASURY SHARES HELD

The following notification is made in accordance with the UK Financial Conduct
Authority's Disclosure Guidance and Transparency Rule 5.6.

At 30 November 2025, the Group holds a total of 13,718,845 shares in treasury. This
includes 11,700,761 shares held directly by subsidiaries and 2,018,084 shares held in
separate broker accounts for employees. The shares held in employee broker accounts
relate to share awards in terms of the Thungela share plan which have not yet vested
and/or sign-on awards granted to new employees subject to forfeiture conditions. These
shares are considered, for accounting purposes, to be treasury shares for Thungela
until the awards have vested or the forfeiture conditions have been satisfied.

The 11,700,761 treasury shares held directly by subsidiaries do not carry voting rights.

The total number of ordinary shares in issue which carry voting rights amounts to
128,791,824.

This information may be used by shareholders (and others with notification obligations)
as the denominator for the calculations by which they will determine whether they are
required to notify their interest in, or a change to their interest in the Company.

3 December 2025
Rosebank


UK Financial adviser and corporate broker
Panmure Liberum Limited
Tel: +44 20 3100 2000

Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)
Tel: +27 11 282 8000

Date: 03-12-2025 11:00:00
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