Update on Cell C and cautionary announcement 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”) Update on Cell C and Cautionary Announcement Blue Label shareholders are advised that Cell C Ltd (“Cell C”) and MTN South Africa (“MTN”) have concluded a detailed term sheet regarding a national roaming agreement. This agreement will result in substantial cost-savings for Cell C by reducing network and capex spend through an extensive roaming arrangement. This agreement is mutually beneficial to both parties. The parties are now negotiating a long form agreement that will detail the principles set out in the term sheet (“the proposed transaction”). Shareholders are referred to the SENS announcement released by Blue Label on the JSE Limited (“JSE”) on 22 February 2019, in which the Company announced that Cell C has concluded a binding term sheet with The Buffet Consortium (“Buffet transaction”). The Buffet transaction forms part of the Cell C recapitalisation process and is progressing well. The implementation of the proposed transaction between Cell C and MTN, as well as the recapitalisation, could have a material impact on the price at which Blue Label shares trade on the JSE. Accordingly, Blue Label shareholders are advised to exercise caution when dealing in their Blue Label shares. Please contact Charl Slabbert - +84 777 6747, cslabbert@cellc.co.za - for any queries relating to Cell C and Nicola White – +27 81 444 9999, nicolaw@blts.co.za – for any queries relating to Blue Label. By order of the board Sandton 07 August 2019 Financial Adviser and Sponsor Investec Bank Limited Legal Adviser to Blue Label Werksmans Inc Date: 07/08/2019 03:15:00 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.