RESULTS OF THE INITIAL PUBLIC OFFERThe Directors of Botswana Telecommunications Corporation Limited (“Botswana Telecommunications Corporation Limited” or “the Company”) are pleased to announce that at the close of the Initial Public Offer (“IPO”), on Friday 04 March 2016, 50,301 qualifying applications for a total of 776,333,400 Shares in respect of the 462,000,000 Shares available to the public on offer in terms of the IPO had been received, representing a 1.68 times over-subscription.

Of these, applications for 414,238,800 Shares, representing approximately 90% of the 462,000,000 Shares on offer, were received from individuals and citizen owned companies, while the balance was received from institutional investors. In accordance with the principles set forth in the Prospectus dated 21 December 2015, the Allotment and Allocation Committee has met and advised the Board of Directors of the Company (the “Board”) of its decision in relation to allocation and allotment. Consequently, the Board is pleased to advise that all applicants in relation to the 462,000,000 Shares were allotted their first 900,000 Shares applied for in full. Those applying for in excess of 900,000 Shares received the first 900,000 Shares and approximately11.45% of the balance applied for.

In order to assist it in its role as market maker, Botswana Privatisation Asset Holdings has been allocated 3,000,000 Shares.

The free float and spread of shareholders requirements of the Botswana Stock Exchange (“BSE”) have been satisfied.

SUMMARY STATISTICS

Summary Breakdown Shares Value (BWP) Shareholding (%)

Government of Botswana 535,500,000 535,500,000 51

Employees 52,500,000 52,500,000 5

Public (citizens) 462,000,000 462,000,000 44

TOTAL SHARES LISTED 1,050,000,000 1,050,000,000 100

FREE FLOAT Relevant Statistics

Total Public Shareholders (excluding employees) 50,301

Total Shares held by public (excluding employees) (%) 44%

The Company’s Shares will be listed on the Main Board of the BSE on Friday 08 April, 2016 at 10.00hrs.

Any change in that date and time will be notified on the X-News Service of the BSE and in the press.

Refunds, where applicable, will be paid to the bank account detailed on the application form by not later than Friday 15 April 2016.

By order of the Board Botswana Telecommunications Corporation Limited07 April 2016

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