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Pretoria High Court sets aside Presidential Proclamation

Published: 2023-07-20 16:23:29 ET

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

Pretoria High Court sets aside Presidential Proclamation

Shareholders are advised that on 19 July 2023, the Pretoria High Court handed down judgment setting aside
Presidential Proclamation 49 of 2022 (the “Proclamation”), gazetted in Regulation Gazette no. 11385 as
published in Government Gazette no. 45809 on 25 January 2022. The Proclamation gave the Special
Investigative Unit (“SIU”) authority to investigate various matters including the contracting for network and
advisory services, and the disposal of former Telkom subsidiaries.

The Pretoria High Court has declared the Proclamation unconstitutional, invalid and of no force or effect and
awarded costs to Telkom.

Telkom had taken appropriate remedial action arising from its own previous investigations into certain of the
issues named in the Proclamation, including launching of legal proceedings where appropriate.

Telkom remains committed to following robust corporate governance principles and will continue to uphold
these principles.

Centurion
20 July 2023


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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.