11 Oct - 4 min read

TR-1: Standard form for notification of major holdings

TR-1: Standard form for notification of major holdings

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

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible)(i)

1a. Identity of the issuer or the underlying issuer           THUNGELA RESOURCES LIMITED
of existing shares to which voting rights are
attached (ii):

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer                                                                                                      X

2. 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:
3. 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

4. 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                 08/10/2021
 reached (vi):

6. Date on which issuer notified (DD/MM/YYYY):                11/10/2021

7. Total positions of person(s) subject to the notification obligation

                         % of voting rights      % of voting rights         Total of both in %   Total number of
                         attached to shares      through financial          (8.A + 8.B)          voting rights of
                         (total of 8. A)         instruments                                     issuer (vii)
                                                 (total of 8.B 1 + 8.B 2)
Resulting situation      9.257%                                             9.257%               136 311 808
on the date on which
threshold was
crossed or reached

Position of previous     8.015%                                             8.015%
notification (if
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached(viii)

A: Voting rights attached to shares

Class/type of              Number of voting rights(ix)                           % of voting rights
shares
ISIN code (if possible)            Direct                 Indirect                        Direct                   Indirect
                                (Art 9 of Directive    (Art 10 of Directive            (Art 9 of Directive      (Art 10 of Directive
                             2004/109/EC) (DTR5.1)       2004/109/EC)               2004/109/EC) (DTR5.1)         2004/109/EC)
                                                           (DTR5.2.1)                                               (DTR5.2.1)
Ordinary Shares                12 618 624                                                       9.257%

SUBTOTAL 8. A                                12 618 624                                                    9.257%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial          Expiration       Exercise/                        Number of voting rights        % of voting rights
instrument                 date(x)          Conversion Period(xi)            that may be acquired if
                                                                             the instrument is
                                                                             exercised/converted.
                                             SUBTOTAL 8. B 1                 NIL                            NIL

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive
2004/109/EC (DTR5.3.1.1 (b))
Type of financial     Expiration            Exercise/            Physical or           Number of            % of voting rights
instrument            date(x)               Conversion           cash                  voting rights
                                            Period xi            settlement(xii)

                                                                 SUBTOTAL
                                                                 8.B.2                 NIL                  NIL

9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity(xiv)
(please add additional rows as necessary)

Name(xv)                      % of voting rights if it   % of voting rights         Total of both if it
                              equals or is higher        through financial          equals or is higher
                              than the notifiable        instruments if it equals   than the notifiable
                              threshold                  or is higher than the      threshold
                                                         notifiable threshold
PUBLIC INVESTMENT             9.257%                                                9.257%
CORPORATION SOC
LIMITED

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)

Name: REITUMETSE KAU
E-Mail: Reitumetse.Kau@pic.gov.za
TEL: 0127423747

Place of completion       PRETORIA, SOUTH AFRICA
Date of completion        11 October 2021

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 11-10-2021 01:00:00
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