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Change statement on AFS disclosures, availability of annual report and notice of annual general meeting
Cell C Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2025/688465/06)
Share code: CCD
ISIN: ZAE000354007
("Cell C" or "the Company" or "the Group")
CHANGE STATEMENT ON AFS DISCLOSURES, AVAILABILITY OF ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
1. Updated annual financial statement disclosures
Shareholders are referred to the audited consolidated Group and separate annual financial statements of CellC for the year ended 31 May 2026,
released on the Stock Exchange News Service ("SENS") on 21 August 2026 (the "Published AFS").
Following publication of the AFS, management recently identified necessary disclosure updates in Note 14 (Trade and other receivables) and
Note 17 (Advances to customers). The disclosure of certain movements within these reconciliations has been updated to align the line-item
classifications and sign conventions with the underlying accounting records.
These disclosure updates do not change either:
- the separate annual financial statements (Company AFS)
- the amounts recognised in the Group's Statement of Financial Position, Statement of Profit or Loss and other Comprehensive Income, Statement
of Cash Flows or Statement of Changes in Equity;
- the closing balances of the affected notes; or
- earnings per share (basic and diluted) or headline earnings per share.
Shareholders are accordingly advised to refer to the updated annual financial statements only (the "Updated AFS"), which incorporate these
disclosure updates. The Updated AFS supersede the Published AFS released on SENS on 21 August 2026 and constitute the Group's definitive audited
annual financial statements for the year ended 31 May 2026.
The Updated AFS, signed by the directors and reported on by the Company's independent auditors, SizweNtsalubaGobodo Grant Thornton Inc.,
on 1 October 2026, are available on the JSE Cloudlink at https://senspdf.jse.co.za/documents/2026/JSE/ISSE/CCDE/FY26AFSA.pdf and on the
Company's website at https://cellc.com/annual-results.
1.1 Summary of disclosure updates
1.1.1 Note 14 Trade and other receivables (page 45 of the Published AFS). The analysis of the expected credit loss allowance has been updated to
present the expected credit loss movement as a recovery of R91.990 million and the movement acquired through business combination as (R0.222) million.
The closing allowance remains unchanged at (R252.116) million. The update is limited to the disclosure reconciliation and does not affect the
reported closing balance.
Published Updated
Figures in R'000 AFS AFS
Reconciliation of allowance for credit losses:
At the beginning of the year (343 884) (343 884)
Expected credit loss (recognised)/recovery* (234 720) 91 990
Acquired through business combination 326 488 (222)
At the end of the year (252 116) (252 116)
1.2 Note 17 Advances to customers (page 47 of the Published AFS). The reconciliation of the expected credit loss allowance has been updated to
present the movements using the appropriate categories and sign conventions. The updated disclosure presents the allowance acquired through business
combination as (R399.792) million, allowances applied as R215.979 million and expected credit loss as (R326.710) million. The closing expected
credit loss allowance remains (R510.523) million, and the carrying amount of advances to customers remain unchanged.
Published Updated
AFS AFS
Reconciliation of allowance for credit losses
At the beginning of the year 264 507 0
Acquired through business combination (399 792)
Allowances applied 215 979
Expected credit loss 246 016 (326 710)
At the end of the year 510 523 (510 523)
The Updated AFS incorporate the disclosure updates described above, together with the corresponding consequential updates in Note 44. Full details
are set out in the Updated AFS.
1.3 Directors' responsibility and disclosure controls
The board of directors confirms that the Updated AFS have been prepared in accordance with International Financial Reporting Standards, the
Companies Act, 71 of 2008, and the JSE Listings Requirements. The Company has also enhanced the disclosure review controls applied ahead of the
publication of its Updated annual financial statements.
2. Availability of integrated annual report
Shareholders are advised that the Company's Integrated Annual Report for the year ended 31 May 2026 ("IAR"), together with the Company's inaugural
King V Application Register setting out the Company's application of the principles of the King V Report on Corporate Governance for South Africa 2025,
have been published and are available on the Company's website at https://cellc.com/integrated-reporting.
The IAR incorporates, among other things, the remuneration policy and implementation report, the report of the social and ethics committee, and an
extract of financial information. The audited Updated AFS remain the definitive record of the Group's financial performance and position for the
year ended 31 May 2026.
Any investment decision should be read together with the Updated AFS, which contain the complete details of the Company's results.
3. Notice of the annual general meeting
Notice is hereby given that the first annual general meeting ("AGM" or "meeting") of Cell C will be held virtually on Thursday, 19 November 2026
at 14:00 South African Standard Time to transact the business as stated in the notice of AGM which is available via the Company's website,
at https://cellc.com/integrated-reporting. The notice of AGM will be delivered to shareholders today, Thursday, 1 October 2026.
3.1 The salient details of the AGM are as follows:
Issuer name Cell C Holdings Limited
Type of instrument Ordinary shares
ISIN ZAE000354007
JSE code CCD
Meeting type Annual General Meeting
Meeting venue Virtual meeting by electronic communication with live video functionality
Record date to determine which shareholders are entitled to receive the notice of meeting Friday, 18 September 2026
Publication/posting date Thursday, 1 October 2026
Last day to trade to determine eligible shareholders that may attend, speak and vote at the meeting Tuesday, 10 November 2026
Record date to determine eligible shareholders that may attend, speak and vote at the meeting Friday, 13 November 2026
Meeting deadline date (for administrative purposes, forms of proxy for the meeting to be lodged)^ 14:00 on Tuesday, 17 November 2026
Meeting date 14:00 on Thursday, 19 November 2026
Publication of AGM results Thursday, 19 November 2026
Company's weblink to annual integrated report and annual financial statements https://cellc.com/integrated-reporting
JSE cloudlink to annual financial statements https://senspdf.jse.co.za/documents/2026/JSE/ISSE/CCDE/FY26AFSA.pdf
^any proxies not lodged by this time must be handed to the chairman of the meeting immediately prior to such proxy exercising his/her right to vote at
the AGM.
1 October 2026
SANDTON
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01/10/2026 05:21:00
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