Dealings in Securities
In brief · summary, not quotable
Five prescribed officers sold vested conditional shares on market to settle tax obligations on 28 April 2026.
Full announcement
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JSE share code: TGA
LSE share code: TGA
Tax number: 9111917259
("Thungela" or the "Company")
DEALINGS IN SECURITIES BY PRESCRIBED OFFICERS
In compliance with paragraphs 6.77 to 6.89 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transactions. The transactions relate to the vesting of conditional share awards and the subsequent on market sale of shares by prescribed officers to settle tax obligations arising from such vesting. The vesting occurred in terms of the Company's 2021 Share Plan and as contemplated in the Remuneration Policy.
| Chief Operations Officer: | Johan van Schalkwyk |
| Nature of transaction: | On market sale of vested conditional shares to settle tax obligations arising from the vesting |
| Class of securities: | Ordinary shares |
| Trading date: | 28 April 2026 |
| Number of shares: | 6,060 |
| VWAP per share: | R139.79 |
| Highest price per share: | R141.38 |
| Lowest price per share: | R136.19 |
| Transaction value: | R847,127.40 |
| Nature of interest: | Direct beneficial |
| Executive Head of Technical: | Leslie Martin |
| Nature of transaction: | On market sale of vested conditional shares to settle tax obligations arising from the vesting |
| Class of securities: | Ordinary shares |
| Trading date: | 28 April 2026 |
| Number of shares: | 5,263 |
| VWAP per share: | R139.79 |
| Highest price per share: | R141.38 |
| Lowest price per share: | R136.19 |
| Transaction value: | R735,714.77 |
| Nature of interest: | Direct beneficial |
| Executive Head of Human Resources: | Lesego Mataboge |
| Nature of transaction: | On market sale of vested conditional shares to settle tax obligations arising from the vesting |
| Class of securities: | Ordinary shares |
| Trading date: | 28 April 2026 |
| Number of shares: | 3,739 |
| VWAP per share: | R139.79 |
| Highest price per share: | R141.38 |
| Lowest price per share: | R136.19 |
| Transaction value: | R522,674.81 |
| Nature of interest: | Direct beneficial |
| Executive Head of Corporate Affairs: | Mpumi Sithole |
| Nature of transaction: | On market sale of vested conditional shares to settle tax obligations arising from the vesting |
| Class of securities: | Ordinary shares |
| Trading date: | 28 April 2026 |
| Number of shares: | 3,739 |
| VWAP per share: | R139.79 |
| Highest price per share: | R141.38 |
| Lowest price per share: | R136.19 |
| Transaction value: | R522,674.81 |
| Nature of interest: | Direct beneficial |
| Executive Head of Marketing: | Bernard Dalton |
| Nature of transaction: | On market sale of vested conditional shares to settle tax obligations arising from the vesting |
| Class of securities: | Ordinary shares |
| Trading date: | 28 April 2026 |
| Number of shares: | 4,481 |
| VWAP per share: | R139.79 |
| Highest price per share: | R141.38 |
| Lowest price per share: | R136.19 |
| Transaction value: | R626,398.99 |
| Nature of interest: | Direct beneficial |
Johannesburg
UK Financial adviser and corporate broker
Panmure Liberum Limited
JSE Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Notification of Dealing Forms
| 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 - Chief Operations Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of no par value |
| Identification code | ISIN: ZAE000296554 | |
| b) | Nature of the transaction | On market sale of vested conditional shares to settle tax obligations arising from the vesting. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R139.79 | 6,060 | |
| d) | Aggregated information | |
| - Aggregated volume | 6,060 | |
| - Price | R847,127.40 | |
| e) | Date of the transaction | 28 April 2026 |
| f) | Place of the transaction | On 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 |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of no par value |
| Identification code | ISIN: ZAE000296554 | |
| b) | Nature of the transaction | On market sale of vested conditional shares to settle tax obligations arising from the vesting. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R139.79 | 5,263 | |
| d) | Aggregated information | |
| - Aggregated volume | 5,263 | |
| - Price | R735,714.77 | |
| e) | Date of the transaction | 28 April 2026 |
| f) | Place of the transaction | On market |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Lesego Mataboge |
| 2 | Reason for the notification | |
| a) | Position/status | PDMR - Executive Head of Human Resources |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of no par value |
| Identification code | ISIN: ZAE000296554 | |
| b) | Nature of the transaction | On market sale of vested conditional shares to settle tax obligations arising from the vesting. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R139.79 | 3,739 | |
| d) | Aggregated information | |
| - Aggregated volume | 3,739 | |
| - Price | R522,674.81 | |
| e) | Date of the transaction | 28 April 2026 |
| f) | Place of the transaction | On market |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mpumi Sithole |
| 2 | Reason for the notification | |
| a) | Position/status | PDMR - Executive Head of Corporate Affairs |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of no par value |
| Identification code | ISIN: ZAE000296554 | |
| b) | Nature of the transaction | On market sale of vested conditional shares to settle tax obligations arising from the vesting. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R139.79 | 3,739 | |
| d) | Aggregated information | |
| - Aggregated volume | 3,739 | |
| - Price | R522,674.81 | |
| e) | Date of the transaction | 28 April 2026 |
| f) | Place of the transaction | On market |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Bernard Dalton |
| 2 | Reason for the notification | |
| a) | Position/status | PDMR - Executive Head of Marketing |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of no par value |
| Identification code | ISIN: ZAE000296554 | |
| b) | Nature of the transaction | On market sale of vested conditional shares to settle tax obligations arising from the vesting. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R139.79 | 4,481 | |
| d) | Aggregated information | |
| - Aggregated volume | 4,481 | |
| - Price | R626,398.99 | |
| e) | Date of the transaction | 28 April 2026 |
| f) | Place of the transaction | On market |
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