TELKOM SA SOC LIMITED - Voluntary Announcement pertaining to an Internal Organisational Restructuring

Voluntary Announcement pertaining to an Internal Organisational Restructuring

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

VOLUNTARY ANNOUNCEMENT PERTAINING TO AN INTERNAL ORGANISATIONAL RESTRUCTURING

Shareholders are advised that Telkom will enter a formal consultation process with relevant stakeholders in terms
of section 189 of the Labour Relations Act ("S189A process") regarding the restructuring of certain operations. The
S189A process will impact all business units and subsidiaries and is intended to ensure the sustainability of the
Group.

As the Group manages the delicate migration of revenue between old to new technologies, it is challenged with
managing the costs associated with the different technologies, the competitiveness and sustainability of the Group.
Management has therefore embarked on a restructuring programme, which includes the S189A process, to
optimise Group costs in line with evolving technology capabilities and demands.

For Telkom to navigate the migration to new technologies as well as current economic headwinds effectively, the
Telkom Board has supported that management start a consultative process aimed at restructuring the organisation
to meet future demands. The S189A process is expected to impact up to 15% of total employees across the Group.

Telkom is committed to minimising the impact of the restructuring and will engage with all relevant stakeholders
and employees across the Group.


Centurion
14 February 2023


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

Date: 14-02-2023 02:00:00
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