Blue Label Telecoms : Trading statement for the year ended 31 May 2022

Blue Label Telecoms Limited

(Incorporated in the Republic of South Africa) (Registration number 2006/022679/06) Share code: BLU ISIN: ZAE000109088 ("Blue Label" or "the Group")

Trading statement for the year ended 31 May 2022

Shareholders are advised that basic, headline and core headline earnings per share for the year ended 31 May 2022 will increase by more than 20% in comparison to the year ended 31 May 2021. The table below illustrates the ranges anticipated against the comparative year:

Core headline earnings for the year ended 31 May 2022 amounted to R1.06 billion, equating to Core headline earnings of 121.01 cents per share.

In the comparative year, core headline earnings amounted to R788 million, of which R763 million related to continuing operations and R25 million to discontinued operations. Core headline earnings amounted to 89.65 cents per share.

On exclusion of the non-recurring income of R214 million in the current year and R47 million in the prior year, core headline earnings from continued operations increased by R131 million from R716 million to R847 million (18%) and core headline earnings per share from continuing operations increased by 18% from 81.50 cents per share in the prior year to 96.56 cents per share. This growth was indicative of a robust trading performance by the Group during the year.

On exclusion of the non-recurring income in both the current and prior year, earnings per share and headline earnings per share from continued operations increased by 20% to 92.68 cents per share and by 19% to 92.89 cents per share respectively.

The financial information on which this trading statement is based has not been reviewed or audited by the Group's auditors.

Sandton

18 August 2022

Sponsor: Investec Bank Limited