TELKOM SA SOC LIMITED - Resignation of the Group Chief Financial Officer

Resignation of the Group Chief Financial Officer

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

Resignation of the Group Chief Financial Officer

In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited ("JSE"), shareholders
are advised that Ms Tsholofelo Molefe has resigned as the Group Chief Financial Officer (“Group CFO”)
and executive director of Telkom and its subsidiaries, effective 4 December 2020 to pursue other interests.

Ms Molefe, joined Telkom on 1 July 2016 as Deputy CFO and was appointed as Group CFO two years
later. In her two-year tenure, she derisked the balance sheet, optimised working capital management
through structural changes and enhanced the capital allocation framework to focus on return on
investment.

Mr Dirk Reyneke, current CFO of Openserve for the past 18 months will take over the position of Acting
Group CFO, effective 7 December 2020. Mr Reyneke, a qualified Chartered Accountant joined Telkom on
1 March 2012 from Absa Retail and Business banking. Over the past eight years, Mr Reyneke has gained
valuable experience and knowledge across the Group. He was formerly a CFO of Telkom Mobile and Gyro
for four and two years respectively. He also led the integration process of BCX and Telkom Enterprise.

Mr Reyneke who has been working with Ms Molefe for the past two years will continue with our financial
strategic objectives which include building financial resilience through sustainable cost management, cash
preservation, disciplined capital allocation and mitigating financial risks.

The appointment of a permanent Group CFO is expected to be made at the end of a comprehensive
process.

The Board would like to wish Ms Molefe well in her future endeavors and thanks her for her contribution.

Centurion
4 December 2020

Sponsor
Nedbank CIB

Date: 04-12-2020 03:15:00
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