Thungela Resources (TGA) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened by the Company Secretary, who introduced the board, executive committee, and key advisors in attendance, confirming both in-person and virtual participation.

• Quorum was confirmed with over 25% of issued shares represented, and the meeting was declared properly constituted.

Financial performance review

• Achieved market guidance for the fifth consecutive year, demonstrating operational consistency and resilience.

• Declared a dividend for the ninth successive reporting period, reflecting disciplined capital allocation.

• Returned over ZAR 700 million to shareholders in 2025, exceeding the minimum distribution policy.

• Faced external challenges including coal price volatility, currency fluctuations, and geopolitical instability.

Board and executive committee updates

• Welcomed Moses Madondo as the new CEO, marking a significant leadership transition.

• Board and committee chairs were introduced, highlighting governance and oversight roles.