TeleMasters Holdings Limited
                          (Incorporated in the Republic of South Africa)
                                Registration number: 2006/015734/06
                                            Share code: TLM
                                          ISIN: ZAE000093324
                             (“TeleMasters” or “Group” or “Company”)


                           SHORT-FORM ANNOUNCEMENT:
 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS
           ENDED 31 DECEMBER 2023 AND DECLARATION OF DIVIDEND NUMBER 63


TeleMasters is a diversified technology investment company. Our vision is to create and
accelerate shareholder value through responsible growth, acquisitions and investments. Entities
within the Group are complementary towards each other with a key focus on enhancing digital
transformation, empowering next-generation interconnectivity and accelerating smart working
environments.

The Group consists of the following divisions:

Catalytic Connections Proprietary Limited is a diversified ICT managed solutions provider to
medium and small enterprises through a comprehensive suite of products and services focused
on digital connectivity, cloud communications, cloud services and cloud security.

Contineo Virtual Communications Proprietary Limited (“Contineo”) operates a Next Generation
Unified Communications (“UC”) platform based on Cisco BroadSoft technology. The platform
enables customers to migrate all their voice and UC traffic into the cloud and transformed
Contineo from a traditional wholesale reseller of voice minutes into the largest independent
wholesaler supplier of the Cisco BroadSoft communications platform in South Africa.

PerfectWorx Consulting Proprietary Limited is a niche network systems integrator that builds and
operates networks for or with customers, supplies technology to build networks or provides
specific solutions for customer’s network requirements. It enjoys key technology partnerships with
Cisco Meraki, Fortinet, Oracle, Exaware, Sonus and Juniper Networks, among others.

Ultra DataCentre Proprietary Limited built and operates a data centre located outside of Pretoria.
This data centre is a vendor and carrier neutral facility that features several unique data centre
capabilities including smart rack infrastructure, ultra-secure physical environment, and
connectivity vendor redundancy. Due to its location just outside the principal jurisdictions of
many other data centres, it specialises in ultra-secure disaster recovery capabilities but also
functions as a primary data centre for clients. Unique among data centres, it has massive and
scalable utility power availability. The building is extremely physically secure with national key
point (bunker type) construction. It has significant white space scalable on demand.
FINANCIAL SUMMARY
The Group’s financial metrics compared to the prior six months ended 31 December 2022 are set
out below:
• Revenue decreased by 3.4%.
• The gross profit margin has remained at 56%.
• Operational expenses were efficiently controlled and decreased by 9%.
• Earnings before interest, taxation, depreciation, and amortisation (EBITDA) of R3.9 million
    were achieved compared to R3.4 million.
• Cash and cash equivalents increased due to improved EBITDA and reduced investment in
    equipment to R1.1 million.
• The net asset value has increased from 63.47 cents per share to 65.41 cents per share, and
    the tangible net asset value from 14.87 cents per share to 18.78 cents per share.
• A turnaround to earnings per share of 0.55 cents was achieved compared to a loss per share
    of (1.15) cents.
• A dividend of 0.201 cents per share was declared during the period (0.75 cents in the prior
    period).

SALIENT FEATURES
Extracted from the interim condensed consolidated financial statements for the six months
ended 31 December 2023 and dividend declaration number 63:

                                                31 December       31 December
                                                        2023               2022        Percentage
                                                   Unaudited         Unaudited             change
                                                            R                  R                  %
    Revenue                                        29 985 955        31 053 202             (3.44%)
    Operating profit                                3 982 011         3 393 878              17.33%
    Earnings/(Loss) per share (cents)                    0.55             (1.15)           147.83%
    Headline loss per share (cents)                      0.61             (1.02)           159.80%
    Dividend paid per ordinary share (cents)            0.201               0.75          (73.20%)

Dividend Declaration
Notice is hereby given that a gross cash dividend (Number 63) of 0.001 cents per share has been
declared and is payable to all shareholders recorded in the Company’s share register at the
close of business on Friday, 19 April 2024.

The dividend will be subject to the Dividends Withholding Tax introduced with effect from 1 April
2012. In accordance with the provisions of the Listings Requirements of the JSE Limited, the
following additional information is disclosed:

•        The dividend has been declared out of retained earnings;
•        The local Dividends Withholding Tax rate is 20%;
•        The gross local dividend is 0.001 cents per share for shareholders exempt from Dividends
         Tax;
•        The net local dividend is 0.0008 cents per share for shareholders liable for Dividends Tax;
•        The Company has 57 482 830 ordinary shares in issue; and
•        The Company’s income tax reference number is 9683/978/14/3.

The following dates apply to the dividend: the last day to trade to be eligible for the dividend will
be Tuesday, 16 April 2024. Shares will trade ex-dividend from Wednesday, 17 April 2024. The
record date will be Friday, 19 April 2024 and the dividend payment will be made on Monday,
22 April 2024.
Share certificates may not be dematerialised/re-materialised between Wednesday, 17 April 2024
and Friday, 19 April 2024, both days inclusive. The certificated register will be closed during these
dates. Dividends in respect of certificated shareholders will be transferred electronically to
shareholders’ bank accounts on the payment date. Following the discontinuation of cheque
payments in South Africa from January 2022, all payments will only be made into a nominated
bank account by electronic funds transfer. Shareholders who have not yet provided their bank
account details to JSE Investor Services Proprietary Limited (“JIS”) are reminded to contact JIS at
086 154 6572 with their bank account details, into which the dividends can be paid electronically.

Short-Form Announcement
The short-form announcement is the responsibility of the Board of Directors of TeleMasters and is
only an extract of the information contained in the unaudited condensed consolidated interim
financial statements for the six months ended 31 December 2023.

This announcement does not contain full or complete details of the financial results. Any
investment decisions by investors and/or shareholders should be based on consideration of the
full announcement which stakeholders are encouraged to review. The full announcement is
available on the Company’s website (www.telemasters.co.za) and on the JSE Website:

https://senspdf.jse.co.za/documents/2024/jse/isse/TLM/TLMIR23.pdf

Copies of the full announcement may be requested from the Company (cfo@masters.co.za) or
inspected at the registered office and/or the Designated Advisors’ office, at no charge, during
office hours.

JOHANNESBURG
27 March 2024

Directors:              DJ Bate*#, MB Pretorius*, WF Steinberg*#, M Tappan*#, MJ Krastanov*#,
                        J Voigt, BR Topham
                        (* non-executive director # independent non-executive director)
Registered address:     Ground Floor, Building 2, ATT House, Maxwell Office Park
                        Magwa Crescent West, Waterfall City 2090
                        P.O. Box 68255 Highveld Park 0169
Company secretary:      S Ramirez-Victor
Auditors:               Nexia SAB&T
                        119 Witch-Hazel Avenue, Highveld Techno Park, Centurion
Transfer secretaries:   JSE Investor Services Proprietary Limited
Designated Advisor:     AcaciaCap Advisors Proprietary Limited
Website:                www.telemasters.co.za

By order of the Board
Waterfall City
27 March 2024

                                      Designated Advisor
                              AcaciaCap Advisors Proprietary Limited