Further Trading Statement, Appointment of Lead Independent Director and Change in Status of a Director TELEMASTERS HOLDINGS LIMITED (Registration Number: 2006/015734/06) JSE Code: TLM ISIN: ZAE 000093324 (“Telemasters” or “the Company”) FURTHER TRADING STATEMENT, APPOINTMENT OF LEAD INDEPENDENT DIRECTOR AND CHANGE IN STATUS OF DIRECTOR Trading Statement Further to the trading statement released on SENS on 29 June 2018 in which shareholders were advised that TeleMasters expects its earnings per share and headline earnings per share for the year ended 30 June 2018 to be at least 20% higher than the earnings per share and headline earnings per share for the previous corresponding period, the Company is now in a position to provide specific guidance on its trading range in terms of paragraph 3.4(b)(iii)(2) of the JSE Listings Requirements. Shareholders are accordingly advised that TeleMasters expects its earnings per share and headline earnings per share for the year ended 30 June 2018 to be between 7.02 and 7.60 cents per share, being between 20% to 30% higher compared to the earnings per share and headline earnings per share of 5.85 cents per share for the year ended 30 June 2017. The financial information on which this trading statement is based has not been reviewed or audited by the Company’s auditors. Appointment of Lead Independent Director TeleMasters is pleased to announce that Mr Fred Steinberg, who joined the Board on 1 June 2018, has been appointed as the Lead Independent Director with immediate effect. Change in Status of Director The Board is pleased to announce that the status of Mr Marthinus Erasmus has changed from that of a non-executive director to an independent non-executive director with immediate effect. Pretoria 26 September 2018 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 26/09/2018 05:27:00 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.