Cell C Limited - Binding Term Sheet with The Buffet Consortium Blue Label Telecoms Limited (Incorporated in the Republic of South Africa) (Registration number 2006/022679/06) Share code: BLU ISIN: ZAE000109088 (“Blue Label” or “the company”) CELL C LIMITED - BINDING TERM SHEET WITH THE BUFFET CONSORTIUM Blue Label wishes to announce that Cell C Limited (“Cell C”) has concluded a binding term sheet with The Buffet Consortium (“Buffet”) in terms of which Buffet shall, subject to the fulfilment of certain conditions precedent, become a minority shareholder in Cell C. With Buffet support the Cell C balance sheet will be bolstered and ensure Cell C's sustainable growth for the future. A further detailed announcement shall be made once the parties have executed the transaction documents required to give effect to the principles recorded in the binding term sheet. 22 February 2019 Sandton Sponsor Investec Bank Limited Date: 22/02/2019 02:05:00 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.
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