Cell C Holdings Limited Integrated Annual Report

for the year ended 31 May 2026

Our approach to sustainability

Our Sustainability Framework

 

Cell C views sustainability as a core business discipline and a driver of long-term value creation. Our sustainability proposition is grounded in demonstrating that connectivity can scale through a structurally efficient operating model that optimises resource use, reduces infrastructure intensity, expands digital inclusion, strengthens trust and supports sustainable value creation.

As a telecommunications business, our most material sustainability impact is in how we enable people and enterprises to connect, participate and transact in an increasingly digital economy. Connectivity supports inclusion, economic participation and access to opportunity; however, it must be delivered in a way that is efficient, responsible and trusted. In South Africa, where disparities in access to digital infrastructure are a barrier to inclusive growth, connectivity enables participation in education, employment and the digital economy.

We use ESG as a design constraint across the business, embedding sustainability considerations into decision-making and operational execution. Environmental efficiency, inclusive growth, fairness, trust, people capability and governance accountability are embedded in how we design products, structure partnerships, allocate resources, manage risks and measure performance. This approach reflects our view that long-term value creation is strongest where operating models are efficient, digitally enabled and trusted by stakeholders.

Cell C's operating model provides a differentiated platform from which to deliver on this ambition. Our asset-light and partner-enabled model allows us to scale connectivity and services with lower reliance on owned infrastructure and resource consumption compared to traditional infrastructure-led approaches. This creates a structural sustainability advantage by supporting more efficient use of resources, enabling scalable access through partnerships and strengthening our ability to grow with lower environmental impact.

Our sustainability purpose is to prove that connectivity can scale differently, with greater efficiency, broader inclusion and deeper trust. This purpose informs how we define, manage and measure sustainability.

Our sustainability pillars

As a purpose-led connectivity provider, we recognise that long-term value creation depends not only on financial performance, but also on how effectively we manage our environmental impacts, empower our people and communities, contribute to economic development and maintain stakeholder trust through strong governance. Our framework is organised around five interconnected pillars that reflect the areas where Cell C can have the greatest strategic impact and is supported by clearly defined metrics and performance indicators.

PillarsOur 2030 ambitionKey metrics

Environmental efficiency

  • Network efficiency.
  • Energy and emissions.
  • Circularity and waste management.
To lead in structurally efficient, low-impact connectivity by demonstrating that growth in traffic, customers and services can be decoupled from increases in energy use and emissions.
  • Scope 1 and 2 emissions.
  • Renewable energy usage.
  • e-Waste recycled.
  • eSIM adoption.

Inclusive digital growth

  • Connectivity and access.
  • Affordability and inclusion.
  • Platform-enabled growth.
To scale as a platform for inclusive digital participation, where every increment of growth expands access, improves affordability and choice, and enables broader participation in the digital economy.
  • Digital channels uptake.
  • Average data consumption per active user.
  • MVNO platform SIMs connected.

Fairness and trust

  • Data protection.
  • Customer trust.
  • Stakeholder trust.
  • Ethical conduct.
  • Digital rights.
  • Responsible supply chain.
To establish Cell C as the most trusted platform partner in the market, where transparency, fairness and responsible data and commercial practices are embedded in every customer and partner interaction.
  • NPS/customer trust index.
  • Thick Trust Index.
  • ESG-screened suppliers.
  • Customer complaint rate.

People and culture

  • Diversity, inclusion and transformation.
  • Skills and future capability.
  • Employee engagement and retention.
  • Health and safety.
To build a high-performance, high-integrity culture where accountability, capability and leadership behaviour are consistently aligned to long-term value creation.
  • Women in the workforce and leadership.
  • % L&D spend on HDIs.
  • Digital skills development.
  • Employee engagement score.
  • Voluntary attrition rate.

Governance and accountability

  • Corporate governance.
  • Regulatory, risk and compliance quality.
  • Economic impact and contribution.
To continuously enhance the embedment of sustainability as a core governance and decision-making discipline across the company, maintaining clear accountability at Board and management level and transparent measurement of performance and outcomes.
  • Board and committee independence.
  • Regulatory compliance.

Sustainability reporting frameworks and standards

Our ESG reporting is in accordance with King IVTM principles and the following sustainability standards and guidelines:

  • JSE Sustainability and Climate Disclosure Guidance.
  • SASB Telecommunications Services Standard.
  • GRI.

Commitment to the United Nations Sustainable Development Goals (SDGs)

Cell C is committed to sustainable development and contributing to the achievement of the United Nations SDGs. Adopted in 2015 as part of the 2030 Agenda for Sustainable Development, our selected SDGs are:

SDG 4: Quality Education
SDG 5: Gender Equality
SDG 8: Decent Work
SDG 9: Innovation
SDG 10: Reduced Inequalities
SDG 12: Responsible Consumption
SDG 13: Climate Action
SDG 17: Partnerships

Governance of sustainability

The Board has ultimate responsibility for overseeing Cell C’s sustainability strategy and material environmental, social and governance matters. In fulfilling this responsibility, the Board considers sustainability as part of the company’s broader strategy, risk, performance and long-term value creation oversight.

Board-level oversight is exercised through the Social and Ethics Committee and the Audit, Risk and Compliance Committee. The Social and Ethics Committee oversees sustainability and ethics-related matters and approves the company’s sustainability strategy. The Audit, Risk and Compliance Committee oversees sustainability-related risks and opportunities, including the integration of ESG-related matters into risk management and assurance processes.

Executive accountability for sustainability sits with EXCO, with sponsorship from the Chief of Strategy and Business Transformation. This accountability model supports the integration of sustainability into the decisions that shape Cell C’s strategy, operating model, partnerships, capital allocation, risk management and day-to-day execution.

At management level, the Sustainability Committee coordinates implementation across the business. The committee brings together cross-functional EXCO representation, ensuring that sustainability priorities, performance indicators and emerging matters are considered across the functions responsible for execution. The committee monitors progress, supports alignment across workstreams and escalates material matters to EXCO and, where appropriate, to the relevant Board committee.

Cell C is formalising its ESG governance as part of the ongoing maturation of its listed-company governance and reporting disciplines. This work builds on existing Board and committee oversight, while strengthening management-level coordination, accountability and reporting cadence. As the ESG governance matures, sustainability considerations will be further embedded into strategic planning, ERM, decision gates and operational execution

The governance cadence provides regular oversight and escalation. The Sustainability Committee will meet monthly to coordinate execution and review progress. EXCO considers ESG performance and key trade-offs through quarterly reviews. The Social and Ethics Committee provides Board-level oversight on a bi-annual basis, supported by annual disclosure through the IAR. This cadence ensures that sustainability matters are visible, measurable and decision-useful across Cell C’s governance structure.

Looking ahead to 2027

As Cell C continues to transform and strengthen its position as a modern, agile telecommunications provider, sustainability will increasingly serve as a core enabler of long-term value creation. Having established the foundational elements of our Sustainability Framework, governance approach and sustainability strategy, our focus now shifts towards deeper integration, operational execution and measurable impact.

We will continue embedding sustainability considerations into business planning, investment decisions, risk management processes and performance management frameworks. Our objective is to ensure that ESG considerations become a routine part of decision-making, strengthening resilience and enhancing our ability to identify opportunities for innovation, growth and stakeholder value creation.

A key area of focus will be the continued maturation of our governance and disclosure capabilities. This includes further strengthening ESG oversight structures, integrating sustainability risks into risk management processes, enhancing the quality of ESG data, and progressing towards reporting practices aligned with IFRS S1 and IFRS S2 disclosure requirements. Through this approach, we aim to provide stakeholders with transparent, credible and decision-useful information on our sustainability performance and ambitions.

We will also advance initiatives that support our five sustainability pillars: environmental efficiency, inclusive digital growth, fairness and trust, people and culture and governance and accountability. These pillars reflect the areas where Cell C can have the greatest influence and create the most meaningful value for customers, employees, partners, regulators, investors and the communities we serve.

As stakeholder expectations evolve, we recognise that sustainability is not a standalone programme or reporting obligation. It is an increasingly important component of corporate strategy, business resilience and reputational strength. We remain committed to building a company that is commercially successful, trusted, responsible and equipped to create enduring value in a rapidly changing operating environment.