[OFFICIAL]




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
                                                                                                         [OFFICIAL]




 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
                                            [OFFICIAL]




f)   Place of the transaction   On market