TELKOM SA SOC LIMITED - Voluntary Trading Statement for the six months ended 30 September 2024

Voluntary Trading Statement for the six months ended 30 September 2024

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


VOLUNTARY TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024

Shareholders are advised that Telkom is in the process of finalising its interim results for the six months
ended 30 September 2024 ("H1 FY2025" or the "current period"), which are scheduled to be released on
the Stock Exchange News Service ("SENS") of the JSE Limited ("JSE") on or about 18 November 2024.

Group revenue growth from continuing operations is expected to be within guidance compared to the six
months ended 30 September 2023 (the "prior period"), with continued strong demand for our compelling
data propositions reflecting double digit growth in mobile data and fibre-related data services, offset by
the ongoing fixed voice and legacy data erosion.

The Group anticipates reporting improved financial results from total operations for H1 FY2025 before a
R451 million after tax charge relating to the termination of Telkom's obligation of the defined benefit within
the Telkom Retirement Fund ("TRF") and the consequential derecognition of the corresponding funding
plan asset recognised under IFRS Accounting Standards. This, along with restructuring costs, is adjusted
for in the adjusted* results presented below.

Shareholders are advised that the Group's key financial measures from total operations for the current
period when compared to the prior period are expected to be within the ranges outlined:

                                                                    Results for the six months ended
                                           Results for the                  30 September 2024
 Total operations                          six months ended 30
                                           September 2023
                                                                                           
 Basic earnings per share
 (Continuing and discontinued**)                                                             Estimated
                                                                     Estimated range         increase/(decrease)
                                           
   - Reported                                    200.2c              210.2c – 230.2c         5% – 15%
   - Adjusted*                                   200.2c              320.3c – 340.3c         60% – 70%
 Headline earnings per share
    - Reported                                   195.0c              185.2c – 204.8c         (5%) – 5%
    - Adjusted*                                  195.0c              292.5c – 312.0c         50% – 60%
 Weighted average number of shares
 in issue                                        486 099 500         490 870 665


*Adjusted financial measures are presented to illustrate the underlying performance of the Group's
operations, as internally managed, to assess the actual trading performance of the Group. Adjusted basic
earnings per share and headline earnings per share are disclosed excluding the impact of the above-
mentioned items. This adjusted financial information is the responsibility of the Board, prepared for
illustrative purposes, and because of its nature may not fairly present the financial position, changes in
equity, results of operations or cash flows of the Group as required for reporting purposes.

** Swiftnet continues to meet the IFRS5 requirement and is classified as held for sale.

About the Telkom Retirement Fund

The TRF is a hybrid fund established on 1 July 1995 as a defined contribution plan in respect of in-service
members, and a defined benefit plan in respect of pensioners. In the current period, the Financial Sector
Conduct Authority approved a rule amendment for the conversion of the TRF from a defined benefit fund
to a defined contribution fund. This approved rule amendment removes the funding obligation risks
towards the pensioners.

Interim results presentation webcast
The Group's interim results announcement for H1 FY2025 is expected to be released on SENS on or
about 18 November 2024, and will be accompanied by a presentation to be held at 10h00 at the offices
of the JSE, One Exchange Square, Gwen Lane, Sandton on the same day. The presentation will be made
available on the Group's website at https://group.telkom.co.za once the results announcement has been
released on SENS.


Centurion
14 November 2024

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

Date: 14-11-2024 08:00:00
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