TELKOM SA SOC LIMITED - Telkom reaches an Out-of-Court Settlement with ICASA

Telkom reaches an Out-of-Court Settlement with ICASA

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

Telkom reaches an Out-of-Court Settlement with ICASA

Shareholders are advised that Telkom and the Independent Communications Authority of South Africa
(“ICASA”) have reached an out-of-court settlement which brings to an end the high court litigation over the
licensing of high demand spectrum.

The settlement addresses the two principal complaints that led to Telkom adopting the legal route, namely;
the unfair restriction on Telkom to bid for spectrum in the past auction and the need for ICASA to consider
the competitive effect of spectrum arrangements in the licensing of unassigned spectrum.

The parties have agreed that Telkom will withdraw the court application and that each party will pay its
own legal costs. In return, ICASA has undertaken to do the following:

    •   commencing with the licensing of the spectrum that remained unassigned in the auction by no
        later than 30 June 2022 and that this licensing process will be concluded within the current
        financial year;
    •   in its licensing of the unassigned 800MHz, it will have regard to the outcome of the auction, the
        imbalances in the sub-1GHz and the need to promote competition in the post auction
        dispensation; and
    •   conducting a study on the impact of a possible secondary market of spectrum on competition and,
        if necessary, provide an adequate and enabling regulatory framework.

Telkom has, in good faith, entered into a forward-looking settlement providing ICASA the opportunity to
resolve current market challenges identified by competition authorities while allowing operators to focus
on the business of providing superior service to their customers.


Centurion
08 April 2022

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

Date: 08-04-2022 04:02:00
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.