Thungela acquires shares for employee incentive plans

Thungela Resources Limited, under its 2021 Thungela Share Plan, acquired ordinary shares through on-market transactions on August 21 and 22, 2025, for the future settlement of conditional shares. On August 21, 2025, 36,477 ordinary shares were purchased at a volume-weighted average price of R90.04 per security, totaling R3,284,389.08. On August 22, 2025, an additional 90,879 ordinary shares were acquired at a volume-weighted average price of R93.04 per security, amounting to R8,455,382.16. These shares will be held in Treasury until vesting.

Separately, for the allocation of forfeitable shares under the same plan, Thungela also conducted on-market acquisitions on August 20 and 21, 2025. On August 20, 2025, 71,129 ordinary shares were bought at a volume-weighted average price of R86.81 per security, with a transaction value of R6,174,708.49.

The following day, August 21, 2025, saw the purchase of 104,061 ordinary shares at a volume-weighted average price of R90.04 per security, totaling R9,369,652.44. All transactions reflect a direct beneficial interest, and clearance from JSE Listings Requirements was obtained for these dealings. The acquired shares will similarly be held in Treasury until their vesting.