ESKOM HOLDINGS SOC LIMITED - Eskom Notes Presidential Statement on Phase I Report on Transmission System Operator Reform

Eskom Notes Presidential Statement on Phase I Report on Transmission System Operator Reform

Eskom Holdings SOC Limited
(Registration No. 2002/015527/06)
JSE alpha code: BIESKM
("Eskom")

ESKOM NOTES PRESIDENTIAL STATEMENT ON PHASE I REPORT ON TRANSMISSION
SYSTEM OPERATOR REFORM

Noteholders' attention is drawn to the update published by The Presidency on the establishment of an
independent Transmission System Operator (TSO) today. Eskom welcomes President Cyril
Ramaphosa's continued support regarding the establishment of a fully independent, state-owned TSO.

In the announcement made by the Presidency today, President Ramaphosa confirmed receipt of the
Phase I Report prepared by the Eskom Restructuring Task Team (ERTT), which sets out the ERTT's
recommendations for establishing an independent TSO. In his statement, President Ramaphosa
underscored that the TSO is a "key enabler" for a competitive electricity market in South Africa that is
"expected to deliver reliable and cost-effective electricity."

Eskom notes the emphases in the ERTT's Phase I Report on implementing the establishment of the
TSO in a manner that does not compromise Eskom's financial sustainability and addressing the growth
of municipal arrear debt, both of which are important considerations for Eskom as they speak to
Eskom's long term financial viability and sustainably.

Eskom will engage proactively with all affected stakeholders as the proposed transaction structure and
implementation plans are further developed. The implementation pathway will be subject to detailed
assessment, stakeholder consultation, regulatory approvals, consideration of existing contractual
obligations, and attending to implementation risks required for smooth and orderly transition required
for successful reforms.

Eskom will continue to keep noteholders apprised as the above process progresses.


Johannesburg
31 July 2026

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 31-07-2026 05:36:00
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