TELKOM SA SOC LIMITED - Termination of discussion: non-binding proposal from Rain Group Holdings Proprietary Limited ("Rain")

Termination of discussion: non-binding proposal from Rain Group Holdings Proprietary Limited ("Rain")

Telkom SA SOC Limited
Registration number 1991/005476/30
JSE share code: TKG
JSE bond code: BITEL
ISIN: ZAE000044897
("Telkom" or “the Company”)

Termination of Discussion: Non-binding proposal from Rain Group Holdings Proprietary Limited
(“Rain”)

Further to the SENS announcement dated 30 September 2022 in relation to a non-binding proposal
received from Rain, Telkom shareholders are advised that Telkom and Rain have terminated discussions
in relation to Rain’s proposal of the potential acquisition of Rain by Telkom for newly issued shares in
Telkom.

After initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction
is not possible at this time.

Telkom continues to execute its strategy to unlock value for shareholders and will provide an update on
progress in this regard in due course.

Centurion
11 January 2023

Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 11-01-2023 12:46:00
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