SENS & Regulatory Announcements

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

                        
                        
                        Thungela increases its interest in Zibulo Operation and Elders Project to 100%

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')

THUNGELA INCREASES ITS INTEREST IN ZIBULO OPERATION AND ELDERS
PROJECT TO 100%

Thungela announces that it has reached an agreement with its BEE partner, Inyosi Coal
(RF) Proprietary Limited (“Inyosi”), to acquire the 27% shareholding of ordinary shares
of Anglo American Inyosi Coal Proprietary Limited (“AAIC”) currently owned by Inyosi
(“the Transaction”) in exchange for shares in Thungela. Pursuant to the Transaction,
Thungela will own 100% of AAIC, whose assets include the Zibulo operation and the
recently approved Elders production replacement project. The Transaction enables
Inyosi to obtain an interest in Thungela while simultaneously transforming its interest
into a more liquid position in a publicly traded entity.

Thungela CEO, July Ndlovu, said: “The Transaction marks a new chapter in our
relationship with Inyosi, as we unlock value and liquidity for Inyosi as they transition
from asset partners to investors in Thungela. The Transaction also underscores
Thungela’s commitment to sound capital discipline as we invest in a highly cash-
generative asset that we know exceptionally well - our own operations and project
opportunities such as Elders.”

The Group will fund the acquisition of the shares in AAIC through issuing 4,180,777 new
Thungela ordinary no par value shares, which will be allotted and issued to Inyosi.
Inyosi will own approximately 3.02% of the ordinary no par value shares which carry
voting rights in Thungela. Inyosi's shares in Thungela are subject to an orderly markets
disposal provision, which includes an initial 30-day period during which no more than
20% of the newly allotted shares may be sold.

The acquisition of the 27% stake in AAIC is aligned to Thungela’s strategy as it seeks to
maximise the full potential of existing assets and optimise capital allocation.

As a result of the Transaction, which is anticipated to be earnings accretive, the Group
will benefit from the full economics of the Zibulo operation and the Elders production
replacement project, resulting in an uplift to earnings attributable to equity owners of
Thungela. The non-controlling interest attributable to the 27% shareholding in AAIC for
the six-month period ended 30 June 2022 was R696 million as reflected in the Group’s
Interim Financial Statements for the six months ended 30 June 2022 (1).

Based on the purchase consideration, the Transaction is uncategorised in terms of the
Listings Requirements of the JSE Limited (“JSE”) and the above information relating to
the Transaction is accordingly disclosed on a voluntary basis.

Applications have been made to the JSE, FCA and to the London Stock Exchange for
the new Thungela ordinary no par value shares to be admitted to the JSE Main Board,
to the standard segment of the Official List of the FCA, and to trading on the JSE’s Main
Board exchange and the London Stock Exchange's Main Market for listed securities,
respectively (“Admission”). It is anticipated that Admission will become effective on or
about 30 November 2022.

Immediately following Admission, Thungela will have a total of 140,492,585 ordinary no
par value shares in issue of which 1,940,974 are held in treasury and carry no voting
rights. Total voting rights following Admission will be 138,551,611 and this figure may be
used by shareholders as the denominator for the calculations by which they may
determine whether or not they are required to notify their interest in, or a change in their
interest in, the ordinary share capital of Thungela under the FCA’s Disclosure and
Transparency Rules.

Rosebank
24 November 2022

Footnotes
1) Non-controlling interests (“NCI”) for the six months ended 30 June 2022 amounted to
R671 million, as reflected in the Group’s Interim Financial Statements available at
www.thungela.com. Of the total NCI, R696 million is attributable to Inyosi’s 27%
shareholding in AAIC, with the balance attributable to losses attributable to NCI in other
entities in the Group.

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: 24-11-2022 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
JSE share code: TGA
LSE share code: TGA
ISIN: ZAE000296554
(‘Thungela’ or the ‘Company’ and together with its affiliates, the ‘Group’)

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)

1a. Identity of the issuer or the underlying issuer THUNGELA RESOURCES LTD
of existing shares to which voting rights are at-
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 20/10/2022
reached vi:

6. Date on which issuer notified (DD/MM/YYYY): 24/10/2022

7. Total positions of person(s) subject to the notification obligation
% of voting rights at- % of voting rights Total of both in % Total number of
tached to shares (to- through financial instru- (8.A + 8.B) voting rights held
tal of 8. A) ments in issuer (8.A +
(total of 8.B 1 + 8.B 2) 8.B) vii
Resulting situation 14.020% 14.020% 19 111 204
on the date on which
threshold was
crossed or reached
Position of previous 13.887% 13.887%
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)
19 111 204 14.020%




SUBTOTAL 8. A 19 111 204 14.020%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial in- Expiration Exercise/ Number of voting rights % of voting rights
strument 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 Pe- cash voting rights
riod 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 in- equals or is higher
than the notifiable struments if it equals than the notifiable
threshold or is higher than the threshold
notifiable threshold
PUBLIC INVESTMENT 14.020% 14.020%
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 24 October 2022

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

UK Financial adviser and corporate broker
Liberum Capital Limited

Johannesburg
24 October 2022

Date: 24-10-2022 05:00:00
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.
                        
                        
                        Dealings in securities by directors and prescribed officers

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’)

DEALINGS IN SECURITIES BY DIRECTORS AND PRESCRIBED OFFICERS

Further to the announcement released on the Stock Exchange News Service of the JSE on 29 March 2022 relating to
the award and acceptance of conditional shares by Executive Directors and Prescribed Officers, we hereby provide
the following information regarding the reinvestment of dividends accruing to ordinary shares
(“Dividend-Equivalent Shares”) awarded to the undermentioned Executive Directors and Prescribed
Officers of Thungela Resources in terms of clause 16.2.1 of the Company’s Conditional Long Term Incentive Plan
(“Conditional LTIP”). The Dividend Equivalent Shares will be subject to the same vesting and other
conditions applicable to the conditional shares as disclosed in the SENS announcement dated
29 March 2022, including the employment conditions and performance conditions.

Name Designation Number of Value of Nature of interest
Dividend-Equivalent Award**
Shares*
July Ndlovu Chief Executive Officer 55,182 R16,747,185 Direct beneficial

Gideon Frederick Chief Financial Officer 24,310 R7,377,842 Direct beneficial
(Deon) Smith

Johannes Petrus Chief Operating Officer 19,295 R5,855,840 Direct beneficial
Daniel van Schalkwyk

Leslie Martin Executive Head of 17,725 R5,379,360 Direct beneficial
Technical

Bernard Michael Executive Head of Marketing 16,438 R4,988,769 Direct beneficial
Dalton

Lesego Elias Executive Head of HR 13,130 R3,984,824 Direct beneficial
Mataboge

Nompumelelo Sithole Executive Head of Corporate 13,005 R3,946,887 Direct beneficial
Affairs

Carina Venter Executive Head of SHE 12,628 R3,832,472 Direct beneficial

* The vesting of the dividend-equivalent shares is conditional on pre- determined performance conditions and
continued employment by Thungela and where applicable, the reasons for the cessation of such employment.

** The calculation of the value of these awards is based on a dividend-adjusted volume-weighted average price equating
of 20 days prior to 7 October 2022 which equates to R303,49 per share.
Clearances and approvals for these transactions, which are all of an off-market nature, have been obtained in
compliance with the Securities Dealing Policies and Procedures of Thungela.

10 October 2022
Rosebank

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 award
to and acceptance of the conditional long term incentive awards:

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name July Ndlovu
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 Ordinary shares of no par value
instrument, type of instrument
Identification code ISIN: ZAE000296554
b) Nature of the transaction Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 55,182
d) Aggregated information
- Aggregated volume 55,182
- Price R16,747,185
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

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 Ordinary shares of no par value
instrument, type of instrument
Identification code ISIN: ZAE000296554
b) Nature of the transaction Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 24,310
d) Aggregated information
- Aggregated volume 24,310
- Price R7,377,842
e) Date of the transaction 7 October 2022
f) Place of the transaction Off 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 Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 19,295
d) Aggregated information
- Aggregated volume 19,295
- Price R5,855,840
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Leslie Martin
2 Reason for the notification
a) Position/status PDMR – Executive Head of Technical
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 Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 17,725
d) Aggregated information
- Aggregated volume 17,725
- Price R5,378,360
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Bernard Michael Dalton
2 Reason for the notification
a) Position/status PDMR – Executive Head of Marketing
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 Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 16,438
d) Aggregated information
- Aggregated volume 16,438
- Price R4,988,769
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Lesego Elias Mataboge
2 Reason for the notification
a) Position/status PDMR – Executive Head of Human Resources
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 Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 13,130
d) Aggregated information
- Aggregated volume 13,130
- Price R3,984,824
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Nompumelelo Sithole
2 Reason for the notification
a) Position/status PDMR – Executive Head of Corporate Affairs
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 Reinvestment of dividends accruing to ordinary shares
awarded under conditional long term incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 13,005
d) Aggregated information
- Aggregated volume 13,005
- Price R3,946,887
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Carina Venter
2 Reason for the notification
a) Position/status PDMR – Executive Head of Safety, Health (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 Reinvestment of dividends accruing to ordinary shares
previously awarded under conditional long term
incentive plan
c) Price(s) and volume(s)
Price(s) Volume(s)
R303,49 12,628
d) Aggregated information
- Aggregated volume 12,628
- Price R3,832,472
e) Date of the transaction 7 October 2022
f) Place of the transaction Off market

Date: 10-10-2022 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.
                        
                        
                        Thungela is confident in its ability to mitigate potential impact of Transnet strike

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')


THUNGELA IS CONFIDENT IN ITS ABILITY TO MITIGATE POTENTIAL IMPACT
OF TRANSNET STRIKE

Thungela has noted that the United National Transport Union has rejected the wage
deal proposed by Transnet SOC Limited (Transnet) and has embarked on strike
action. The strike commenced on 6 October 2022 and is likely to affect both rail and
port services.

Industrial action will interrupt railing from our operations to the Richards Bay Coal
Terminal (RBCT). Rail constraints over recent months have resulted in relatively
high stockpile levels on our operations. Operations are however able to run without
rail for a further seven days without experiencing a significant impact on production.
In the event of a protracted strike extending to two weeks, we would be forced to
further curtail production, with the potential resultant impact being a reduction of up
to 300kt of export saleable production.

RBCT operates independently of Transnet and should be able to continue to load
vessels, subject to Transnet continuing to provide a number of services required for
the berthing and unberthing of vessels (for example pilots and tugboats). Given
RBCT’s ability to load vessels and Thungela’s ability to draw down on healthy stock
levels at port, we currently expect the impact on sales for Q4 2022 to be limited.

In light of previous security issues experienced on the coal corridor, Thungela is
working with Transnet and other coal exporting parties to deploy additional security
measures on the line. These include intensified helicopter surveillance, heightened
focus on depots and an increase in the number of reaction teams on the ground.

We continue to engage with Transnet to understand further developments and the
potential impacts on our business.

Johannesburg
6 October 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: 06-10-2022 12:30:00
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.
                        
                        
                        Dealing in securities by a prescribed officer and an associate of 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
(‘Company’ or ‘Thungela Resources’)

DEALING IN SECURITIES BY A PRESCRIBED OFFICER AND AN ASSOCIATE OF 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 dealing in securities by a prescribed officer and an associate of a prescribed officer of
Thungela Resources are disclosed:

Prescribed officer : Johan van Schalkwyk
Company : Thungela Resources

Date of transaction : 17 February 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 931
Purchase price per share : R114.84
Total value of transaction : R106,916.04
Nature and extent of director’s interest : Direct beneficial
Clearance obtained : No – prescribed officer was not aware of the
trade as it was executed by an associate

Date of transaction : 6 April 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 931
Sale price per share : R233.40
Total value of transaction : R217,295.40
Nature and extent of director’s interest : Direct beneficial
Clearance obtained : No – prescribed officer was not aware of the
trade as it was executed by an associate

Prescribed officer : Johan van Schalkwyk
Company : Thungela Resources
Name of associate : Melanie van Schalkwyk
Relationship to the prescribed officer Spouse

Date of transaction : 17 August 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 58
Purchase price per share : R48.56
Total value of transaction : R2,816.48
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 4 October 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 83
Purchase price per share : R96.11
Total value of transaction : R7,977.13
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 15 October 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 137
Sale price per share : R82.29
Total value of transaction : R11,273.73
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 3 November 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 40
Purchase price per share : R61.97
Total value of transaction : R2,478.80
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 4 November 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 129
Purchase price per share : R65.13
Total value of transaction : R8,401.77
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 24 November 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 174
Sale price per share : R71.32
Total value of transaction : R12,409.68
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 24 November 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 3
Purchase price per share : R71.43
Total value of transaction : R214.29
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 20 December 2021
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 140
Purchase price per share : R84.49
Total value of transaction : R11,828.60
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 8 February 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 419
Purchase price per share : R102.63
Total value of transaction : R43,001.97
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 15 February 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 456
Purchase price per share : R118.31
Total value of transaction : R53,949.36
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 31 March 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 56
Purchase price per share : R177.46
Total value of transaction : R9,937.76
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 12 April 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 1074
Sale price per share : R243.08
Total value of transaction : R261,067.92
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 12 April 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 2
Purchase price per share : R245.10
Total value of transaction : R490.20
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 20 April 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 39
Purchase price per share : R258.53
Total value of transaction : R10,082.67
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 10 May 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 216
Purchase price per share : R231.91
Total value of transaction : R50,092.56
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 17 May 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 256
Sale price per share : R268.99
Total value of transaction : R68,861.44
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 17 May 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 1
Purchase price per share : R270.00
Total value of transaction : R270.00
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 15 August 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 740
Purchase price per share : R283.63
Total value of transaction : R209,886.20
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 15 August 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 169
Purchase price per share : R294.71
Total value of transaction : R49,805.99
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 18 August 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 621
Sale price per share : R320.62
Total value of transaction : R199,105.02
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 22 August 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 250
Sale price per share : R324.76
Total value of transaction : R81,190.00
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 12 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 766
Purchase price per share : R345.17
Total value of transaction : R264,400.22
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 21 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 50
Purchase price per share : R321.03
Total value of transaction : R16,051.50
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 21 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 35
Purchase price per share : R320.14
Total value of transaction : R11,204.90
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

Date of transaction : 26 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 176
Purchase price per share : R295.29
Total value of transaction : R51,971.04
Nature and extent of director’s interest : Not applicable
Clearance obtained : Not required – Associate dealing

3 October 2022
Rosebank

UK Financial adviser and corporate broker
Liberum Capital Limited

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

In compliance with article 19(3) of the Market Abuse Regulation (MAR), we hereby provide the following
information regarding the dealing in securities:

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R48.56 58
d) Aggregated information
- Aggregated volume 58
- Price R2,816.48
e) Date of the transaction 17 August 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R96.11 83
d) Aggregated information
- Aggregated volume 83
- Price R7,977.13
e) Date of the transaction 4 October 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R82.29 137

d) Aggregated information
- Aggregated volume 137
- Price R11,273.73
e) Date of the transaction 15 October 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R61.97 40
d) Aggregated information
- Aggregated volume 40
- Price R2,478.80
e) Date of the transaction 3 November 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R65.13 129
d) Aggregated information
- Aggregated volume 129
- Price R8,401.77
e) Date of the transaction 4 November 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R71.32 174
d) Aggregated information
- Aggregated volume 174
- Price R12,409.68
e) Date of the transaction 24 November 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R71.43 3
d) Aggregated information
- Aggregated volume 3
- Price R214.29
e) Date of the transaction 24 November 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R84.49 140
d) Aggregated information
- Aggregated volume 140
- Price R11,828.60
e) Date of the transaction 20 December 2021
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R102.63 419
d) Aggregated information
- Aggregated volume 419
- Price R43,001.97
e) Date of the transaction 8 February 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R118.31 456
d) Aggregated information
- Aggregated volume 456
- Price R53,949.36
e) Date of the transaction 15 February 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Johan van Schalkwyk
2 Reason for the notification
a) Position/status PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R114.84 931
d) Aggregated information
- Aggregated volume 931
- Price R106,916.04
e) Date of the transaction 17 February 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R177.46 56
d) Aggregated information
- Aggregated volume 56
- Price R9,937.76
e) Date of the transaction 31 March 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Johan van Schalkwyk
2 Reason for the notification
a) Position/status PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R233.40 931

d) Aggregated information
- Aggregated volume 931
- Price R217,295.40
e) Date of the transaction 6 April 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R243.08 1074
d) Aggregated information
- Aggregated volume 1074
- Price R261,067.92
e) Date of the transaction 12 April 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R245.10 2
d) Aggregated information
- Aggregated volume 2
- Price R490.20
e) Date of the transaction 12 April 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R258.53 39
d) Aggregated information
- Aggregated volume 39
- Price R10,082.67
e) Date of the transaction 20 April 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R231.91 216
d) Aggregated information
- Aggregated volume 216
- Price R50,092.56
e) Date of the transaction 10 May 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R268.99 256
d) Aggregated information
- Aggregated volume 256
- Price R68,861.44
e) Date of the transaction 17 May 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R270.00 1
d) Aggregated information
- Aggregated volume 1
- Price R270.00
e) Date of the transaction 17 May 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R283.63 740
d) Aggregated information
- Aggregated volume 740
- Price R209,886.20
e) Date of the transaction 15 August 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R294.71 169

d) Aggregated information
- Aggregated volume 169
- Price R49,805.99
e) Date of the transaction 15 August 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R320.62 621
d) Aggregated information
- Aggregated volume 621
- Price R199,105.02
e) Date of the transaction 18 August 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R324.76 250
d) Aggregated information
- Aggregated volume 250
- Price R81,190.00
e) Date of the transaction 22 August 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R345.17 766
d) Aggregated information
- Aggregated volume 766
- Price R264,400.22
e) Date of the transaction 12 September 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R321.03 50
d) Aggregated information
- Aggregated volume 50
- Price R16,051.50
e) Date of the transaction 21 September 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R320.14 35

d) Aggregated information
- Aggregated volume 35
- Price R11,204.90
e) Date of the transaction 21 September 2022
f) Place of the transaction On market

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Melanie van Schalkwyk
2 Reason for the notification
a) Position/status Spouse of PDMR – Prescribed 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R295.26 176
d) Aggregated information
- Aggregated volume 176
- Price R51,971.04
e) Date of the transaction 26 September 2022
f) Place of the transaction On market

Date: 03-10-2022 01:00:00
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.
                        
                        
                        Media speculation linking Thungela to potential renewables acquisition is misleading

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')

MEDIA SPECULATION LINKING THUNGELA TO POTENTIAL RENEWABLES
ACQUISITION IS MISLEADING

Thungela has noted with concern an article published on Bloomberg earlier today
(and subsequently syndicated to other media outlets) titled “Top Coal Miners
Consider Bids for South African Renewables Firm”. The original article purports that
Thungela is considering a bid for Actis LLP’s BTE Renewables. This assertion is
factually incorrect and Thungela confirms categorically that it is not considering the
acquisition of any renewables business.

Furthermore, the assertion in the original Bloomberg article that Thungela declined to
comment on the matter is also incorrect as the Group did not receive the request to
comment prior to publication of the story. After publication of the story Thungela
reached out to Bloomberg to clarify the facts, and while Bloomberg has subsequently
updated the article, it has been syndicated to other news outlets, some of which are
carrying a misleading headline relating to the matter.

Consistent with Thungela’s strategy and communicated position since listing, we are
not focused on diversification into the renewable energy sector.

Thungela’s renewable energy plans are currently limited to the installation of a
137kW solar plant at the eMalahleni Water Reclamation Plant and studies for a 4MW
solar photovoltaic plant at our Zibulo Colliery. We are also undertaking a study to
evaluate the viability of a solar-powered energy solution for the Elders complex.

Johannesburg
29 September 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: 29-09-2022 05:00:00
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

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

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

Director : Gideon Frederick Smith
Company : Thungela Resources
Date of transaction : 16 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 30,000
Volume weighted average sales price per share : 379.83
Highest sales price 382.48
Lowest sales price 377.99
Total value of transaction : R 11 394 900.00
Nature of interest : Direct, beneficial
Clearance obtained : Yes

Director : Gideon Frederick Smith
Company : Thungela Resources
Date of transaction : 19 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 3,485
Sales price per share : 375.00
Total value of transaction : R 1 306 875.00
Nature of interest : Direct, beneficial
Clearance obtained : Yes

Director : Gideon Frederick Smith
Company : Thungela Resources
Date of transaction : 20 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market sale of ordinary shares
Number of securities : 26,515
Volume weighted average sales price per share : 377.34
Highest sales price 380.76
Lowest sales price 375.50
Total value of transaction : R 10 005 170.10

Nature of interest : Direct, beneficial
Clearance obtained : Yes

21 September 2022
Rosebank

UK Financial adviser and corporate broker
Liberum Capital Limited

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

In compliance with article 19(3) of the Market Abuse Regulation (MAR), we hereby provide the following
information regarding the dealing in securities:

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 – 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 On-market sale of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
379.83 30 000
375.00 3 485
377.34 26 515

d) Aggregated information
- Aggregated volume 60 000
- Price R22 706 945.10
e) Date of the transaction 16/ 19/ 20 September 2022
f) Place of the transaction On market

Date: 21-09-2022 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.
                        
                        
                        Thungela signs three-year wage agreement

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')


THUNGELA SIGNS THREE-YEAR WAGE AGREEMENT

Thungela announces that it has signed a three-year wage agreement with the National
Union of Mineworkers ("NUM") which is the recognised labour union across Thungela's
operations, and which represents 86% of unionised employees. This agreement
enables the implementation of a new wage agreement across Thungela's operations,
other than Mafube which runs an independent wage negotiation process. The
agreement is effective from 1 June 2022 and covers a period of three-years through to
the end of May 2025.

The wage agreement increases salary and salary-related allowances and is expected to
increase the total labour cost-to-company, on average by approximately 6% per annum
over the three-year period.

Under the agreement, Thungela and the NUM also commit to engaging the board of
trustees of the SACO Employee Partnership Plan Trust ("EPP") to review and amend
the trust deed to enable the payment of awards made to the EPP in the same financial
year in which they are declared, as opposed to vesting over a period of three years.

July Ndlovu, CEO of Thungela, commented: "We are very pleased to have reached an
agreement with our employees and I thank the NUM for their collaboration and
constructive engagement during the wage negotiation process. The agreement
recognises the important role that our employees have in responsibly creating value
together for a shared future."


Johannesburg
20 September 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: 20-09-2022 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.
                        
                        
                        TR-1: Standard form for notification of major holdings

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
(‘Thungela’ or the ‘Company’ and together with its affiliates, the ‘Group’)

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)

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: 07/09/2022

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

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 13.887% 13.887% 18 930 009
on the date on which
threshold was
crossed or reached
Position of previous 14.146% 14.146%
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)

18 930 009 13.887%

SUBTOTAL 8. A 18 930 009 13.887%

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 X
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 13.887% 13.887%
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 09 September 2022


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

UK Financial adviser and corporate broker

Liberum Capital Limited

Johannesburg
12 September 2022

Date: 12-09-2022 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.
                        
                        
                        Dealing in securities by a director

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
('Company' or 'Thungela Resources')

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 : Sango Siviwe Ntsaluba
Company : Thungela Resources
Date of transaction : 6 September 2022
Class of securities : Thungela Resources ordinary shares
Nature of transaction : On-market acquisition of ordinary shares
Number of securities : 830
Purchase price per share : 35847.08 cents
Total value of transaction : R297 530.76
Nature of interest : Direct, beneficial
Clearance obtained : Yes

6 September 2022
Rosebank

UK Financial adviser and corporate broker
Liberum Capital Limited

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

In compliance with article 19(3) of the Market Abuse Regulation (MAR), 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 On-market acquisition of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R358.47 830
d) Aggregated information
- Aggregated volume 830
- Price R297,530.76
e) Date of the transaction 6 September 2022
f) Place of the transaction On market

Date: 06-09-2022 12:30:00
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.

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.