Thungela Resources (TGA) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened by the Company Secretary, who introduced the board, executive committee, and external advisors, confirming quorum and proper constitution of the meeting.

• The agenda included presentation of audited financial statements, the Social Ethics and Transformation Committee report, and adoption of ordinary and special resolutions.

Board and executive committee updates

• Two new members joined: Thomas McKeith as Independent Non-Executive Director and Dan Reynolds as Executive Head, Australia.

• The board's composition and diversity were discussed, with ongoing efforts to improve gender and skills diversity.

Financial performance review

• Audited financial statements for the year ended 31 December 2024 were approved and released in March 2025.

• Total returns to shareholders for 2024 were ZAR 2.3 billion, including dividends and share buybacks, representing 64% of adjusted operating free cash flow.

• Net profit dropped by 29%, but capital allocation remains focused on balancing shareholder returns and long-term investments.