Holding(s) in Company
Thungela Resources Limited has been notified that the Public Investment Corporation SOC Limited (PIC) has increased its holding in the company to 11.399% of the issued ordinary shares, representing 16,014,118 voting rights. This change signifies an acquisition of voting rights, with the PIC's previous holding at 10.546%. The notification date was December 15, 2025, with the threshold crossing occurring on December 11, 2025.
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JSE Share Code: TGA
LSE Share Code: TGA
Tax number: 9111917259
('Company')
DISCLOSURE OF CHANGE IN SIGNIFICANT HOLDING OF THUNGELA ORDINARY SHARES
Shareholders are advised that Public Investment Corporation SOC Limited (PIC) has notified the Company that accounts under its management have increased its holding in the Company such that PIC now holds 11.399% of the issued ordinary shares in the Company.
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
UK Financial adviser and corporate broker
Panmure Liberum Limited
Johannesburg
TR-1: Standard form for notification of major holdings
- Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
- 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 :
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 |
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 : | 11/12/2025 |
| 6. Date on which issuer notified (DD/MM/YYYY): | 15/12/2025 |
- Total positions of person(s) subject to the notification obligation
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | |
|---|---|---|---|---|
| Resulting situation on the date on which threshold was crossed or reached | 11.399% | 11.399% | 16 014 118 | |
| Position of previous notification (if applicable) | 10.546% | 10.546% | ||
| A: Voting rights attached to shares | ||||
| Class/type of shares ISIN code (if possible) | Number of voting rights ix | % of voting rights | ||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | |
| 16 014 118 | 11.399% | |||
| SUBTOTAL 8. A | 16 014 118 | 11.399% | ||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | ||||
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights |
| SUBTOTAL 8. B 1 | NIL | NIL | ||
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Physical or cash Settlement xii | Number of voting rights | % of voting rights |
| SUBTOTAL 8.B.2 | NIL | NIL | |||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | ||
| PUBLIC INVESTMENT CORPORATION SOC LIMITED | 11.399% | 11.399% | |||
| 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 | 15 December 2025 | ||||
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