Dealing in securities by prescribed officer

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 PRESCRIBED OFFICER

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 prescribed officer of Thungela Resources is disclosed:

Prescribed Officer : Nompumelelo Sithole
Company : Thungela Resources
Date of transaction : 2 December 2025
Class of securities : Ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 8 000
Sale price per share : R81.89
Total value of transaction : R655 120
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
5 December 2025


Notification and public disclosure of transactions by persons discharging managerial
responsibility and persons closely associated with them.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1 Details of the person discharging managerial responsibilities/person closely associated
a. Name Nompumelelo Sithole

2 Reason for notification
a. Position/Status PDMR
b. Initial notification/Amendment Initial

3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a. Name Thungela Resources Limited
b. LEI 213800EGYK3BN3SRIF27

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each
4 type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a. Description of the Ordinary shares of no par value
financial instrument,
type of instrument ISIN: ZAE000296554
Identification Code SEDOL: BMV3M27
b. Nature of the Sale of Shares
transaction
c. Price(s) and Volume 8000 Price R81.89
volume(s)
d. Aggregated Price: ZAR81.89
information
- Aggregated Volume Volume: 8000
- Price ZAR655 120
e. Date of the 2 December 2025
transaction
f. Place of the XJSE
transaction

Date: 05-12-2025 11:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.