Value unlock for Telkom shareholders Telkom SA SOC Limited Registration number 1991/005476/30) JSE share code: TKG JSE bond code: BITEL ISIN: ZAE000044897 ("Telkom" or the “Group”) Value unlock for Telkom shareholders Shareholders are reminded of Telkom management’s commitment to the value unlock strategy which is premised on Telkom’s market capitalisation not representing its intrinsic value. Management remains firmly on course with this strategy and has continued to explore several options to unlock further value in the Gyro Masts & Towers business (“Swiftnet”), which has operated as a separate tower company for over three years, the value of which is not fairly reflected in the Telkom share price. Shareholders are advised that Telkom is pursuing a separate listing of Swiftnet on the JSE and the Telkom Board expects to make a final determination regarding a separate listing before the end of the financial year. Management believes that a separate listing of Swiftnet will affirm the valuation of the Masts & Towers business and its contribution to the overall valuation of the Telkom business, thereby unlocking further value for Telkom. Unlocking value from Telkom’s portfolio of businesses is a key component of the Company’s financial framework and will afford Telkom management flexibility to rebase the balance sheet and reinvest in the business. Centurion 21 September 2021 Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 21-09-2021 11:43:00 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.