SENS & Regulatory Announcements

Stock exchange news service (SENS) and other regulatory announcements.

TR-1: Standard form for notification of major holdings

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
Share code: TGA
(“Thungela Resources” or “Company”)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer Thungela Resources Limited
of existing shares to which voting rights are
attached ii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer X

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights x
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:

3. Details of person subject to the notification obligation iv
Name Fairtree Asset Management (Pty) Ltd on behalf of
its clients
City and country of registered office (if applicable) c/o
Ground Floor Willowbridge Place, Corner of Old Oak
Road and Carl Cronje Drive Bellville, Cape Town 7530,
South Africa
4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)

5. Date on which the threshold was crossed or 14/04/2022
reached vi:

6. Date on which issuer notified (DD/MM/YYYY): 09/05/2022

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached % of voting rights Total of both in % Total number of
to shares (total of 8. A) through financial (8.A + 8.B) voting rights held
instruments in issuer (8.A +
(total of 8.B 1 + 8.B) vii
8.B 2)

Resulting situation 4.92% 4.92% 6 702 765
on the date on which
threshold was
crossed or reached
Position of previous 5.35% 5.35%
notification (if
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
Ordinary shares 6 702 765 4.92%

SUBTOTAL 8. A
6 702 765 4.92%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting rights % of voting rights
instrument date x Conversion Period xi that may be acquired if
the instrument is
exercised/converted.

SUBTOTAL 8. B 1 NIL NIL


B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or Number of % of voting rights
instrument date x Conversion cash voting rights
Period xi Settlement xii

SUBTOTAL NIL NIL
8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity x
(please add additional rows as necessary) xiv
Name xv % of voting rights if it % of voting rights Total of both if it
equals or is higher through financial equals or is higher
than the notifiable instruments if it equals than the notifiable
threshold or is higher than the threshold
notifiable threshold
Fairtree Asset 4.92% 4.92%
Management (Pty) Ltd
on behalf of its clients

10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A

11. Additional information xvi
Name: Heinrich Jansen van Rensburg
E-mail: heinrichj@fairtree.com
Tel: +27 21 943 3767

Place of completion Bellville, Cape Town, South Africa
Date of completion 09 May 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 10-05-2022 02:00:00
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.
TR-1: Standard form for notification of major holdings

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
Share code: TGA
(“Thungela Resources” or “Company”)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer of THUNGELA RESOURCES LTD
existing shares to which voting rights are attached ii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:

3. Details of person subject to the notification obligation iv
Name PUBLIC INVESTMENT CORPORATION SOC LIMITED
City and country of registered office (if applicable) PRETORIA, SOUTH AFRICA

4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached vi: 03/05/2022

6. Date on which issuer notified (DD/MM/YYYY): 05/05/2022

7. Total positions of person(s) subject to the notification obligation
% of voting rights % of voting rights Total of both in % Total number of
attached to shares through financial (8.A + 8.B) voting rights held in
(total of 8. A) instruments issuer (8.A + 8.B) vii
(total of 8.B 1 + 8.B 2)
Resulting situation 14.307% 14.307% 19 502 643
on the date on which
threshold was
crossed or reached
Position of previous 13.427% 13.427%
notification (if
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)

19 502 643 14.307%

SUBTOTAL 8. A 19 502 643 14.307%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial in- Expiration Exercise/ Number of voting rights % of voting rights
instrument date x Conversion Period xi that may be acquired if
the instrument is
exercised/converted.

SUBTOTAL 8. B 1 NIL NIL


B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or Number of % of voting rights
instrument date x Conversion cash voting rights
Period xi Settlement xii


SUBTOTAL NIL NIL
8.B.2

9.Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
(please add additional rows as necessary) xiv
Name xv % of voting rights if it % of voting rights Total of both if it
equals or is higher through financial equals or is higher
than the notifiable instruments if it equals than the notifiable
threshold or is higher than the threshold
notifiable threshold
PUBLIC INVESTMENT 14.307% 14.307%
CORPORATION SOC
LIMITED

10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A

11. Additional information xvi

Place of completion PRETORIA, SOUTH AFRICA
Date of completion 05 May 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 05-05-2022 04:00:00
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.
TR-1: Standard form for notification of major holdings

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
Share code: TGA
("Thungela Resources" or "Company")

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are at- THUNGELA RESOURCES LTD
tached ii:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:

3. Details of person subject to the notification obligation iv
Name PUBLIC INVESTMENT CORPORATION SOC LIMITED
City and country of registered office (if applicable) PRETORIA, SOUTH AFRICA

4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)

5. Date on which the threshold was crossed or
reached vi: 25/04/2022


6. Date on which issuer notified (DD/MM/YYYY): 26/04/2022

7. Total positions of person(s) subject to the notification obligation

% of voting rights Total number of
% of voting rights at- through financial instru- voting rights held
tached to shares (to- ments Total of both in % in issuer (8.A +
tal of 8. A) (total of 8.B 1 + 8.B 2) (8.A + 8.B) 8.B) vii

Resulting situation
on the date on which
threshold was
crossed or reached 13.427% 13.427% 18 302 643

Position of previous
notification (if 12.579% 12.579%
applicable)


8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)

18 302 643 13.427%




SUBTOTAL 8. A 18 302 643 13.427%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Number of voting rights
Type of financial in- Expiration Exercise/ that may be acquired if
strument date x Conversion Period xi the instrument is % of voting rights
exercised/converted.





SUBTOTAL 8. B 1 NIL NIL



B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Exercise/ Physical or
Type of financial Expiration Conversion Pe- cash Number of
instrument date x riod xi Settlement xii voting rights % of voting rights


SUBTOTAL
8.B.2 NIL NIL


9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
(please add additional rows as necessary) xiv
% of voting rights
% of voting rights if it through financial in- Total of both if it
equals or is higher struments if it equals equals or is higher
than the notifiable or is higher than the than the notifiable
Name xv threshold notifiable threshold threshold




PUBLIC INVESTMENT
CORPORATION SOC 13.427% 13.427%
LIMITED




10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A

11. Additional information xvi


Place of completion PRETORIA, SOUTH AFRICA
Date of completion 26 April 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 26-04-2022 02:00:00
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.
No change statement and notice of Annual General Meeting (AGM)

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
(‘Company’ or ‘Thungela Resources’)

NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING (AGM)

No change statement
Shareholders are advised that the Notice of AGM incorporating the Remuneration report and the
Summarised consolidated financial statements for the year ended 31 December 2021 have been
distributed to shareholders today, 26 April 2022. The Summarised consolidated financial
statements contain no modifications to the Annual financial statements which were published on
SENS on 22 March 2022.

Further, there have been no changes to the unqualified auditor’s report which was referenced in
the Annual financial statements and made available to shareholders at the Company’s registered
office on the same date as the release of the results on SENS.

The full Annual financial statements, Integrated annual report, ESG report, and Notice of the AGM
are available on the Company’s website at www.thungela.com. The Annual financial statements
were audited by PricewaterhouseCoopers Inc., who expressed an unqualified audit opinion
thereon. The audit report is also available for inspection at the Company’s registered offices,
together with the Annual financial statements identified in the audit opinion.

Notice of the AGM
Notice is hereby given that the Annual General Meeting of Thungela Resources shareholders
(AGM) will be held virtually on Tuesday, 24 May 2022, at 12:00 CAT, 11:00 UKT, to transact the
business as stated in the Notice of AGM.

The salient details relating to the AGM are set out below:

Issuer name Thungela Resources Limited
ISIN ZAE000296554
JSE share code TGA
LSE share code TGA
Meeting type Annual general meeting
Meeting venue Electronic communication
Record date to determine which shareholders are entitled
to receive the Notice of AGM Thursday, 14 April 2022
Publication/Posting date Tuesday, 26 April 2022
Last day to trade to determine eligible shareholders that
may attend, speak and vote at the AGM Tuesday, 10 May 2022
Record date to determine eligible shareholders that may
attend, speak and vote at the AGM Friday, 13 May 2022
Meeting deadline date (for administrative purposes, forms
of proxy for the AGM to be lodged by no later than
12:00 CAT, 11:00 UKT Friday, 20 May 2022
AGM date Tuesday, 24 May 2022
Publication of results of AGM Thursday, 26 May 2022

Website link https://www.thungela.com/investors/corporate-governance

Any proxies not lodged by 12:00 CAT, 11:00 UKT on Friday, 20 May 2022 can be submitted to
the transfer secretaries before the meeting.

Logistical arrangements to participate in the AGM

Shareholders can register to participate and vote in the virtual AGM by visiting
https://meetnow.global/za and clicking on the Thungela Resources logo. Once registered,
shareholders will receive an invitation code together with detailed instructions on how to connect
to the meeting.

All other interested parties and guests will be able to access the AGM via the same portal, 30
minutes before the meeting.

26 April 2022
Johannesburg

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

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

For further information, kindly contact the Company Secretary:
Francois Klem
Email: coseccoalsa@thungela.com

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

Date: 26-04-2022 10:00:00
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.
Availability of Integrated Annual Report and ESG Report

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

AVAILABILITY OF INTEGRATED ANNUAL REPORT AND ESG REPORT

Shareholders are advised the Thungela Integrated Annual Report for the year ended 31
December 2021 and the Thungela ESG Report for the year ended 31 December 2021 have
been published on the Group’s website and can be accessed using the following link:
https://www.thungela.com/investors/integrated-reports

The Notice of Annual General Meeting, incorporating the summarised consolidated annual
financial statements for the year ended 31 December 2021, will be distributed to shareholders
on 26 April 2022. A further announcement will be made in this regard.

Johannesburg
22 April 2022

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

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

Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)

Date: 22-04-2022 04:00:00
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.
TR-1: Standard form for notification of major holdings

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
Share code: TGA
(“Thungela Resources” or “Company”)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights THUNGELA RESOURCES LTD
are attached ii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:

3. Details of person subject to the notification obligation iv
Name PUBLIC INVESTMENT CORPORATION SOC LIMITED
City and country of registered office (if applicable) PRETORIA, SOUTH AFRICA

4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)

5. Date on which the threshold was crossed or
reached vi: 19/04/2022

6. Date on which issuer notified (DD/MM/YYYY): 21/04/2022

7. Total positions of person(s) subject to the notification obligation
% of voting rights % of voting rights Total of both in % Total number of
attached to shares through financial (8.A + 8.B) voting rights held
(total of 8. A) instruments in issuer (8.A +
(total of 8.B 1 + 8.B 2) 8.B) vii
Resulting situation 12.579% 12.579% 17 146 752
on the date on which
threshold was
crossed or reached

Position of previous 11.220% 11.220%
notification (if
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)

17 146 752 12.579%

SUBTOTAL 8. A 17 146 752 12.579%


B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting rights % of voting rights
instrument date x Conversion Period xi that may be acquired if
the instrument is
exercised/converted.

SUBTOTAL 8. B 1 NIL NIL

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or cash Number of % of voting rights
instrument date x Conversion Settlement xii voting rights
Period xi

SUBTOTAL
8.B.2
NIL NIL

9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
(please add additional rows as necessary) xiv
Name xv % of voting rights if it % of voting rights Total of both if it
equals or is higher through financial equals or is higher
than the notifiable instruments if it equals than the notifiable
threshold or is higher than the threshold
notifiable threshold

PUBLIC INVESTMENT 12.579% 12.579%
CORPORATION SOC
LIMITED

10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A

11. Additional information xvi

Place of completion PRETORIA, SOUTH AFRICA
Date of completion 21 April 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 21-04-2022 02:00:00
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.
Dealing in securities by a director and a prescribed officer

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
(‘Company’ or ‘Thungela Resources’)

DEALING IN SECURITIES BY A DIRECTOR AND A PRESCRIBED OFFICER

In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, the following
information relating to the dealings in securities by a director and a prescribed officer of Thungela Resources
are disclosed:

Director : Sango Siviwe Ntsaluba
Company : Thungela Resources
Date of transaction : 10 June 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 18
Sale price per share : 2601 cents
Total value of transaction : R468.18
Nature of interest : Direct, beneficial
Clearance obtained : No. The director was unaware of the trade

Prescribed Officer : Johan Petrus Daniel van Schalkwyk
Company : Thungela Resources
Date of transaction : 13 August 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market purchase of ordinary shares
Number of securities : 80
Purchase price per share : 5028 cents
Total value of transaction : R4 022.40
Nature of interest : Direct, beneficial
Clearance obtained : No. Due to an oversight the prescribed officer
inadvertently did not obtain clearance to deal
and failed to notify the Company of these
trades.

Prescribed Officer : Johan Petrus Daniel van Schalkwyk
Company : Thungela Resources
Date of transaction : 1 October 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market purchase of ordinary shares
Number of securities : 189
Purchase price per share : 9706 cents
Total value of transaction : R18 344.34
Nature of interest : Direct, beneficial
Clearance obtained : No. Due to an oversight the prescribed officer
inadvertently did not obtain clearance to deal
and failed to notify the Company of these
trades.

20 April 2022
Rosebank

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

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

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

In compliance with the UK Listings Requirements, we hereby provide the following information regarding the
dealing in securities:

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Sango Siviwe Ntsaluba
2 Reason for the notification
a) Position/status PDMR – Non Executive Director
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 Ordinary shares of no par value
instrument, type of instrument
Identification code ISIN: ZAE000296554
b) Nature of the transaction Off market acceptance of conditional long term incentive
awards
c) Price(s) and volume(s)
Price(s) Volume(s)
R26.01 18
d) Aggregated information
- Aggregated volume 18
- Price R468.18
e) Date of the transaction 10 June 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Johannes Petrus Daniel van Schalkwyk
2 Reason for the notification
a) Position/status PDMR – Chief Operating 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 Ordinary shares of no par value
instrument, type of instrument
Identification code ISIN: ZAE000296554
b) Nature of the transaction Off market acceptance of conditional long term incentive
awards
c) Price(s) and volume(s)
Price(s) Volume(s)
R50.28 80
d) Aggregated information
- Aggregated volume 80
- Price R4,022.40
e) Date of the transaction 13 August 2021
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Johannes Petrus Daniel van Schalkwyk
2 Reason for the notification
a) Position/status PDMR – Chief Operating 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 Ordinary shares of no par value
instrument, type of instrument
Identification code ISIN: ZAE000296554
b) Nature of the transaction Off market acceptance of conditional long term incentive
awards
c) Price(s) and volume(s)
Price(s) Volume(s)
R97.06 189
d) Aggregated information
- Aggregated volume 189
- Price R18,344.34
e) Date of the transaction 1 October 2021
f) Place of the transaction On market

Date: 20-04-2022 04:00:00
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.
Transnet Freight Rail contractual arrangements

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')

TRANSNET FREIGHT RAIL CONTRACTUAL ARRANGEMENTS

On 8 April 2022, Transnet SOC Ltd (“Transnet”) notified Coal Export Parties (“CEPs”) with
which it has long term coal transportation agreements (“Agreements”) that the factors previously
communicated to the market regarding Transnet’s inability to perform services at its stated
system capacity (such as the ongoing legal proceedings relating to the irregular locomotive
acquisition and maintenance contracts, as well as the rife vandalism on the coal line) continue
and are beyond its reasonable control.

The impact of these factors resulted in an annual rail performance of 58.3Mt coal delivered to
Richards Bay Coal Terminal (“RBCT”) in 2021, compared to its annual capacity of 77Mt.
Transnet believes that these circumstances will continue to detract from its ability to perform for
at least the next six months and that accordingly Transnet is under Force Majeure.

Transnet's view is that the continued impact and duration of these factors actuate a termination
right, and expressed a desire to exercise this right to terminate the Agreements. Transnet
however reiterated its commitment to continue to perform the rail services and has recently
confirmed its commitment to work with the CEPs and RBCT to optimise and improve its
performance. The CEPs, including Thungela, are accordingly engaging actively with Transnet to
clarify the contractual position and ensure the stability of coal deliveries to RBCT in order to
continue to take advantage of the current strong market demand for South African coal.
Through these engagements, Transnet has confirmed its intent to conclude an addendum to the
Agreements which Transnet believes would assist Transnet in addressing certain factors
affecting its performance, but reaffirmed its commitment to the existing material commercial
terms and it is therefore unlikely that these developments would have any material commercial
impact on Thungela.

With coal rail services and export sales continuing, notwithstanding the ongoing discussions
between the CEPs and Transnet, Thungela does not currently envisage that this development
will have a material impact on the Group’s 2022 operational outlook which was published on 22
March 2022. Thungela continues to engage with Transnet in order to clarify its contractual
position. Thungela will continue assessing the situation and will update the market should the
potential impact of this matter be determined as material to the Group.

Date of SENS release: 14 April 2022

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

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

Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)

Date: 14-04-2022 08:00:00
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.
Disclosure of a beneficial interest in Thungela securities

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
(“Company” or “Thungela”)

Disclosure of a beneficial interest in Thungela securities

In accordance with section 122(3)b) of the Companies Act, No. 71 of 2008 as amended (“the Companies
Act”), regulation 121(2)(b) of the Companies Regulations, 2011 and paragraph 3.83(b) of the JSE Limited
Listings Requirements, shareholders are advised that the Company has received notification from the Public
Investment Corporation SOC (“PIC”) that it has increased its holding in the Company such that the PIC now
holds 11.22% of Thungela’s total issued ordinary shares.

As required in terms of section 122(3)(a) of the Companies Act, the Company has filed the required notice
with the Takeover Regulation Panel.

The board of directors of Thungela accepts responsibility for the information contained in this announcement
as it relates to the Company and confirms that, to the best of its knowledge and belief, such information
relating to Thungela is true and that this announcement does not omit anything likely to affect the importance
of such information.

13 April 2022
Rosebank

Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com

Media Contacts
Tarryn Genis
Email: tarryn.genis@thungela.com

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

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are at- THUNGELA RESOURCES LTD
tached ii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify) iii:

3. Details of person subject to the notification obligation iv

Name PUBLIC INVESTMENT CORPORATION SOC LIMITED

City and country of registered office (if applicable) PRETORIA, SOUTH AFRICA

4. Full name of shareholder(s) (if different from 3.) v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or
11/04/2022
reached vi:

6. Date on which issuer notified (DD/MM/YYYY): 12/04/2022

7. Total positions of person(s) subject to the notification obligation
% of voting rights Total number of
% of voting rights at-
through financial instru- Total of both in % voting rights held
tached to shares (to-
ments (8.A + 8.B) in issuer (8.A +
tal of 8. A)
(total of 8.B 1 + 8.B 2) 8.B) vii
Resulting situation
on the date on which
threshold was
crossed or reached 11.220% 11.220% 15 293 905


Position of previous
notification (if 9.925% 9.925%
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)

15 293 905 11.220%




SUBTOTAL 8. A 15 293 905 11.220%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Number of voting rights
Type of financial in- Expiration Exercise/ that may be acquired if
% of voting rights
strument date x Conversion Period xi the instrument is
exercised/converted.




SUBTOTAL 8. B 1 NIL NIL



B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Exercise/ Physical or
Type of financial Expiration Number of
Conversion Pe- cash % of voting rights
instrument date x voting rights
riod xi Settlement xii


SUBTOTAL
8.B.2
NIL NIL

9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
(please add additional rows as necessary) xiv
% of voting rights
% of voting rights if it Total of both if it
through financial in-
equals or is higher equals or is higher
Name xv
struments if it equals
than the notifiable than the notifiable
or is higher than the
threshold threshold
notifiable threshold
PUBLIC INVESTMENT
CORPORATION SOC 11.220% 11.220%
LIMITED


10. In case of proxy voting, please identify:
Name of the proxy holder N/A

The number and % of voting rights held N/A

The date until which the voting rights will be held N/A


11. Additional information xvi


Place of completion PRETORIA, SOUTH AFRICA

Date of completion 12 April 2022

Date: 13-04-2022 09:00:00
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.
TR-1: Standard form for notification of major holdings

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
Share code: TGA
(“Thungela Resources” or “Company”)

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible) i

1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are THUNGELA RESOURCES LTD
attached ii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:

3. Details of person subject to the notification obligation iv
Name PUBLIC INVESTMENT CORPORATION SOC LIMITED
City and country of registered office (if applicable) PRETORIA, SOUTH AFRICA

4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)

5. Date on which the threshold was crossed or
reached vi: 07/04/2022

6. Date on which issuer notified (DD/MM/YYYY): 08/04/2022

7. Total positions of person(s) subject to the notification obligation
% of voting rights % of voting rights Total of both in % Total number of
attached to shares through financial (8.A + 8.B) voting rights held
(total of 8. A) instruments in issuer (8.A +
(total of 8.B 1 + 8.B 2) 8.B) vii
Resulting situation 9.925% 9.925% 13 528 836
on the date on which
threshold was
crossed or reached
Position of previous 8.033% 8.033%
notification (if
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached viii
A: Voting rights attached to shares
Class/type of Number of voting rights ix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)

13 528 836 9.925%

SUBTOTAL 8. A 13 528 836 9.925%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting rights % of voting rights
instrument date x Conversion Period xi that may be acquired if
the instrument is
exercised/converted.

SUBTOTAL 8. B 1 NIL NIL

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or Number of % of voting rights
instrument date x Conversion cash voting rights
Period xi Settlement xii

SUBTOTAL
8.B.2
NIL NIL

9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
(please add additional rows as necessary) xiv
Name xv % of voting rights if it % of voting rights Total of both if it
equals or is higher through financial equals or is higher
than the notifiable instruments if it equals than the notifiable
threshold or is higher than the threshold
notifiable threshold
PUBLIC INVESTMENT 9.925% 9.925%
CORPORATION SOC
LIMITED

10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A

11. Additional information xvi

Place of completion PRETORIA, SOUTH AFRICA
Date of completion 08 April 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08-04-2022 02:00:00
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.

Investor Relations Contact

Ryan Africa
Head Office: 25 Bath Avenue, Rosebank
Email: ryan.africa@thungela.com
Tel: +27 (0) 11 638 0237
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Please beware of share fraud.  An unauthorised third party operating in the name and style of JSE Limited - Preference Shares Department, is offering a fraudulent subscription of redeemable Thungela preference shares.