TELKOM SA SOC LIMITED - Update: Value unlock for Telkom shareholders

Update: Value unlock for Telkom shareholders

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

Update: Value unlock for Telkom shareholders

Shareholders are referred to the SENS announcement titled “Value unlock for Telkom shareholders”
dated 21 September 2021” wherein Telkom announced its intention to pursue a separate listing of its
Masts and Towers business (“Swiftnet”) to unlock value for shareholders before the end of its 2022
financial year subject to market and other conditions.

Given the recent global events, current market conditions and the impact on the Capital Markets, the
Board has resolved to postpone the separate listing of Swiftnet on the JSE.

The Board remains committed to its value unlock strategy which is premised on Telkom’s market
capitalisation not representing its intrinsic value. Against this backdrop, the Board continues to consider
all strategic options that support its value unlock strategy, which include affirming the valuation of Swiftnet
and its contribution to the valuation of Telkom.

The Board is focused on driving maximum shareholder value and will provide further information at the
appropriate time on the best route to deliver this in the current market conditions.

Centurion
09 March 2022

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

Date: 09-03-2022 07:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.