Telkom SOC : Media statement by rain titled "rain proposes merger with Telkom"

Telkom SA SOC Limited

Registration number 1991/005476/30

JSE share code: TKG

JSE bond code: BITEL

ISIN: ZAE000044897 ("Telkom")

Media statement by rain titled "rain proposes merger with Telkom"

Telkom notes the media statement by rain proprietary limited ("rain") titled "rain proposes merger with Telkom" issued 11 August 2022, the related press reports and the SENS announcement in this regard issued by the Takeover Regulation Panel on 11 August 2022. Telkom can confirm that no offer or proposal has been received from rain. If an offer or formal proposal is received from rain, the board of Telkom ("the Board") will consider it in accordance with its legal obligations.

Shareholders are further referred to the cautionary announcement issued by Telkom on 15 July 2022 in relation to discussions between Telkom and MTN Group Limited ("MTN") regarding MTN acquiring the entire issued share capital of Telkom in return for shares or a combination of cash and shares in MTN. Those discussions are continuing and accordingly, shareholders are advised to continue to exercise caution when dealing in Telkom securities.

The Board accepts responsibility for the information contained in this announcement and, to the best of their knowledge and belief, such information is true and this announcement does not omit anything likely to affect the importance of the information included.

Centurion

12 August 2022

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

Legal advisor: Webber Wentzel Attorneys

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