Dealings in securities by Thungela Share Plan for future settlement of rights issued as conditional shares

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")

DEALINGS IN SECURITIES BY THUNGELA SHARE PLAN FOR FUTURE SETTLEMENT OF RIGHTS ISSUED AS CONDITIONAL SHARES

In compliance with paragraph 3.96 of the Listings Requirements of the JSE Limited ("the JSE
Listings Requirements"), we provide the following information regarding the purchase of shares
on the open market to be used for the future settlement of rights issued as conditional shares
under the 2021 Thungela Share Plan. The purchased shares will be held in Treasury until such
time that the shares have vested under the rules of the 2021 Thungela Share Plan.

 Date of transaction:                       21 August 2025
 Nature of transaction:                     On-market acquisition of securities
 Class of securities:                       Ordinary shares
 Number of securities:                      36,477
 Volume weighted average purchase           R90.04
 price per security:
 Highest purchase price per security:       R91.03
 Lowest purchase price per security:        R87.56
 Transaction value:                         R3,284,389.08
 Nature of interest:                        Direct beneficial

 Date of transaction:                       22 August 2025
 Nature of transaction:                     On-market acquisition of securities
 Class of securities:                       Ordinary shares
 Number of securities:                      90,879
 Volume weighted average purchase           R93.04
 price per security:
 Highest purchase price per security:       R95.61
 Lowest purchase price per security:        R91.15
 Transaction value:                         R8,455,382.16
 Nature of interest:                        Direct beneficial

Clearance to deal in terms of the JSE Listings Requirements was obtained.

Rosebank
26 August 2025

UK Financial adviser and corporate broker
Panmure Liberum Limited

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

Date: 26-08-2025 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.