THUNGELA RESOURCES LIMITED - Dealing in securities by a director

Dealing in securities by a director

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

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 is disclosed:

    Director                                               :   July Ndlovu
    Company                                                :   Thungela Resources
    Date of transaction                                    :   3 June 2024
    Class of securities                                    :   Thungela Resources ordinary shares
    Nature of transaction                                  :   Off-market collar hedge over 500 000 ordinary
                                                               shares of the Company with a put strike price of
                                                               R134,72, call strike price of R183,43 and expiry
                                                               on 3 June 2026
    Number of securities                                   :   500 000
    Total value of transaction                             :   R 67,360,000
    Nature of interest                                     :   Direct, beneficial
    Clearance obtained                                     :   Yes

UK Financial adviser and corporate broker
Liberum Capital Limited

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

Rosebank
5 June 2024



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

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

1    Details of the person discharging managerial responsibilities/person closely associated
a.   Name                              July Ndlovu

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

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

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

a.   Description of the      Ordinary shares of no par value
     financial instrument,
     type of instrument      ISIN: ZAE000296554
     Identification Code     SEDOL: BMV3M27
b.   Nature of the           Off-market collar hedge over shares of the Company
     transaction
c.   Price(s) and            500 000 ordinary shares of the Company with a put strike price of
     volume(s)               R134,72, call strike price of R183,43 and expiry on 3 June 2026
d.   Aggregated
     information
     - Aggregated Volume     Volume: 500 000
     - Price                 R 67,360,000
e.   Date of the             3 June 2024
     transaction
f.   Place of the            XJSE
     transaction

Date: 05-06-2024 12:00:00
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