Earnings release
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RNS Number : 7754P Thungela Resources Limited 07 August 2026 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 ( ' Thungela ' or the ' Company ' and , together with its affiliates , the ' Group ' ) Thungela Resources Limited Trading Statement for the six months ended 30 June 2026 Shareholders are advised that the board of directors of Thungela has a reasonable degree of certainty related to the expected financial results of the Group for the six months ended 30 June 2026 , in accordance with paragraph 6.26 of the JSE Listings Requirements . Expected earnings per share and headline earnings per share Shareholders are advised that earnings per share ( ' EPS ' ) for the six months ended 30 June 2026 ( the ' current period ' ) is expected to be between R10.75 and R11.10 , an increase of between R8.82 and R9.17 per share , compared to reported EPS of R1.93 for the six months ended 30 June 2025 ( the ' prior period ' ) . Earnings attributable to the shareholders of the Group for the current period is expected to be between R1.3 billion and R1.4 billion . Headline earnings per share¹ ( ' HEPS ' ) for the current period is expected to be between R4.60 and R4.95 , an increase of between R2.68 and R3.03 per share , compared to reported HEPS of R1.92 for the prior period . Headline earnings attributable to the shareholders of the Group for the current period is expected to be between R580 million and R630 million . Earnings and headline earnings attributable to the shareholders of the Group have been impacted by the ongoing volatile market conditions , and a non - cash profit of R1.0 billion recognised on the sale of the Kleinkopje mining right . The impact of this profit is removed in the determination of HEPS for the reporting period . The expected EPS and HEPS ranges for the current period are summarised in the table below : Expected EPS / HEPS range Expected increase from prior Expected increase from prior ( Rand per share ) EPS HEPS 10.75 -11.10 4.60 -4.95 period ( Rand per share ) 8.82 - 9.17 2.68 -3.03 period ( % ) 457-475 140-158 These EPS and HEPS figures are calculated using a weighted average number of shares of 126,976,527 for the current period and 131,790,424 for the prior period . Key areas of judgement which may impact the expected EPS and HEPS figures above are in the process of being finalised , and any changes to these ranges , if necessary , will be communicated to shareholders . Thungela expects to release its financial results for the six months ended 30 June 2026 on 17 August 2026. The financial results will be released on the Stock Exchange News Service of the Johannesburg Stock Exchange and the Regulatory News Service of the London Stock Exchange , and will be accompanied by a webcast and conference call that will start at 12:00 SAST on the same date . Details to register for the webcast and conference call are available below : Webcast : https://78449.themediaframe.com/links/thungela260323.html Conference call : https://services.choruscall.it/Diamond Pass Registration / register ? confirmationNumber = 7721589 & linkSecurityString = 160b7e901e Deon Smith Chief financial officer
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Footnote1. HEPS is determined in reference to Circular 1/2023 - Headline earnings ('Circular 1/2023') as issued bythe South African Institute of Chartered Accountants. In order to calculate headline earnings, earningsattributable to the equity shareholders of the Group is adjusted for separately identifiable remeasurements,as defined in Circular 1/2023, net of related tax and non-controlling interests. Johannesburg 7 August 2026 Review of Trading StatementThe information contained in this Trading Statement is the responsibility of the directors of Thungela and has notbeen reviewed or reported on by the Group's independent external auditor. DisclaimerThis announcement includes forward-looking statements. All statements other than statements of historical factsincluded in this announcement, including, without limitation, those regarding Thungela's financial position,business, acquisition and divestment strategy, dividend policy, plans and objectives of management for futureoperations (including development plans and objectives relating to Thungela's products, production forecasts andreserve and resource positions), are forward-looking statements. By their nature, such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors which may cause the actual results,performance or achievements of Thungela, or industry results, to be materially different from any future results,performance or achievements expressed or implied by such forward-looking statements. The Group assumes noresponsibility to update forward-looking statements in this announcement except as required by law. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the market abuse regulation (EU) no. 596/2014 as amended by the market abuse (amendment) (UK mar) regulations 2019. Upon the publication of this announcement via the regulatory information service, this inside information is now considered to be in the public domain. Investor relations Hugo Nunes and Shreshini SinghEmail: ir@thungela.com MediaHulisani RasivhagaEmail: hulisani.rasivhaga@thungela.com UK Financial adviser and corporate brokerPanmure Liberum Limited SponsorRand Merchant Bank(A division of FirstRand Bank Limited) This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authorityto act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this informationmay apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. Forfurther information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END