Trading Statement TELEMASTERS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 2006/015734/06 Share code: TLM & ISIN Number: ZAE000093324 (“TeleMasters” or “the Company” or “the Group”) TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE Limited (“JSE”), listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. Shareholders are advised that for the six months ended 31 December 2020, the Company expects to report earnings/(loss) per share and headline earnings/(loss) per share of between 0.31 cents per share (“cps”) and (0.47) cps, being between 92% and 112% lower than the earning per share and headline earnings per share of 3.90 cps reported for the comparative period ended 31 December 2019. The decrease is attributable to changing usage behaviour amongst corporate users that decentralised office staff and an increase in operational expenses due to: (i) the group continuing to invest substantially in business areas with good growth potential; (ii) larger loss allowance provisions on trade receivables reflecting expectations in the general economy; and (iii) a specific provision for a large project which was delayed. Given current circumstances it was decided to follow a conservative approach in respect thereof. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s auditors. Waterfall City 1 March 2021 Designated Advisor AcaciaCap Advisors Proprietary Limited Date: 01-03-2021 02:20:00 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.