Acquisition of the Remaining Shareholding in Conexlink (Pty) Ltd TELEMASTERS HOLDINGS LIMITED (Registration Number: 2006/015734/06) JSE Code: TLM ISIN: ZAE 000093324 (“TeleMasters” or “the Company”) ACQUISITION OF THE REMAINING SHAREHOLDING IN CONEXLINK (PTY) LTD (“CONEXLINK”) Introduction The board of directors of TeleMasters (“Board”) is pleased to announce that TeleMasters (“Purchaser”) has reached an agreement with the trustees for the time being of Madison Trust (“Seller”) in term of which the Company will purchase the remaining 74 shares, being 74% of the total shares in issue, in ConexLink (“Sale Shares”) which it does not already own for a purchase consideration of R3 922 000 (three million nine hundred and twenty-two thousand Rand) (“Purchase Consideration”) (“Acquisition”). Rationale for the Acquisition ConexLink is uniquely positioned as a niche Data Centre Provider in South Africa that provides a carrier and vendor neutral facility which enables companies to implement both physical security and geo-redundancy risk management strategies. The ConexLink business is complimentary to all of the other companies within the TeleMasters Group and the Board is of the opinion that that the technology mix, strategic partnerships and infrastructure availability held in ConexLink will provide TeleMasters with significant revenue growth opportunities in the near to medium term. Furthermore, the strong and continued growth in the global data centre market makes it strategic to TeleMasters’ future growth opportunities. Purchase Consideration and Effective Date of the Acquisition The Purchase Consideration is payable in cash by the Purchaser to Seller within 60 (sixty) days of the date of this announcement. Notwithstanding the date of payment of the Purchase Consideration, the Sale Shares are acquired with effect from 1 April 2021 and all risks in and benefits attaching to the Sale Shares will pass to the Purchaser with effect from this date. Financial Information The financial information set out below is extracted from the management accounts of ConexLink for the 12 month period ended 28 February 2021. The management accounts were prepared in accordance with IFRS for SMEs, but may not contain all the adjustments that may be required in terms of the accounting policies of TeleMasters. Loss after tax R1 063 416 Net liabilities R2 326 512 Conditions Precedent, Warranties and Other Significant Terms of the Acquisition The Acquisition is not subject to any conditions precedent, warranties or other significant terms not disclosed above. Classification of the Acquisition The Acquisition constitutes a category 2 transaction in terms of the JSE Limited’s Listings Requirements. The Seller is not a related party to TeleMasters. Waterfall City 7 April 2021 Designated Advisor AcaciaCap Advisors Proprietary Limited Date: 07-04-2021 05:27:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.