TELKOM SA SOC LIMITED - Renewal of Cautionary Announcement

Renewal of Cautionary Announcement

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


RENEWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to Telkom's cautionary announcement released on SENS on 21 November 2023,
wherein it was advised that Telkom is currently in exclusive negotiations with a preferred bidder in respect of
the potential disposal of its masts and towers business housed in Swiftnet SOC Limited, which, if successfully
concluded, may have a material effect on the price of the Company's securities.

Shareholders were informed that the preferred bidder is a consortium of equity investors (including a Black
Economic Empowerment partner), led and managed by a reputable private equity firm.

Shareholders were also informed that the transaction, if successfully concluded, will be subject to conditions
precedent that are customary for a transaction of this nature, including the receipt of the necessary regulatory
approvals and Telkom shareholder approval given that it would constitute a Category 1 transaction in terms
of the Listings Requirements of the JSE Limited.

Shareholders are herewith further informed that continued progress has been made on meeting certain
agreed milestones under the exclusivity arrangement, including that the bidder has completed its confirmatory
due diligence.

Shareholders are advised that the exclusive negotiations may or may not lead to a transaction, and therefore,
are advised to exercise caution when dealing in the Company's securities until a further announcement is
made.


Centurion
8 January 2024


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

Legal advisor
Bowman Gilfillan Inc.

Financial advisor
FTI Capital Advisors (DIFC) Limited

Date: 08-01-2024 03:30:00
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