Annual Results Presentation FY22

Capital allocation prioritises growth • Operational cashflow Sources of Capital • Debt issuance - adequate debt capacity • Value unlock proceeds • Opportunistic property disposal h Uses of Capital • Prioritise growth to ensure sustainability of the business. Optimal Performance • Hurdle for organic growth: WACC + 2-3% Total Shareholder Returns • Remains a key component 71 Shareholder returns • Dividend policy at the end of FY23 Spectrum took priority in line with capital allocation framework Telkom Annual Results Presentation FY22 18

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