TELKOM SA SOC LIMITED - Withdrawal of Cautionary Announcement

Withdrawal of Cautionary Announcement

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


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the Telkom announcement published on SENS on Monday, 12 June 2023
relating to an unsolicited non-binding indicative letter from a consortium consisting of Afrifund Investments
Proprietary Limited, Axian Telecom and the Government Employees Pension Fund, managed by the
Public Investment Corporation (collectively, the Consortium) for the acquisition of a controlling stake in
Telkom (the Indicative Proposal).

The Telkom board of directors (the Board) having considered the Indicative Proposal, has decided not
to continue discussions with the Consortium, as the Board is of the view that the Indicative Proposal is
not in the best interest of shareholders and that the current Telkom strategy will yield better value for
shareholders. Accordingly, caution is no longer required to be exercised by shareholders when dealing
in their securities.


Centurion
7 July 2023

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

Date: 07-07-2023 03:15:00
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