Results presentation 01 Results overview 04 Datat sheets 03 - PowerPoint PPT Presentation

for the six months ended 30 June 2020 Results presentation 01 Results overview 04 Datat sheets 03 Appendices 02 Results presentation

Disclaimer 01 Results overview The information contained in this document (“presentation”) has not been verified independently. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. 02 Results presentation Opinions and forward looking statements expressed herein represent those of the Company at the time. Undue reliance should not be placed on such statements and opinions because by nature, they are subjective to known and unknown risk and uncertainties and can be affected by other factors that could cause actual results, and the Company plans and objectives to differ materially from those expressed or implied in the forward looking statements. Neither the Company nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (based on negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in the statements from the presentation whether to reflect new information or future events or circumstances otherwise. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. The impacts of COVID-19 present material uncertainties in our operating environment and could pose additional risks to MTN’s business, financial 03 Appendices position and liquidity position. Details relating to these risks have been outlined in our Q1 20 trading update, H1 20 results release and in this H1 20 results presentation. 04 Datat sheets 2 94 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Agenda 02 Results presentation 1 Operational and strategic review 2 Financial review 03 Appendices 3 Looking ahead 04 Datat sheets 3 95 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview 02 Results presentation Operational review 03 Appendices Rob Shuter Group President and CEO 04 Datat sheets 4 96 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Highlights Strong financial performance in a challenging operating environment +9,4%* +32,7%* +18,0%* Service revenue Data revenue Fintech revenue 02 Results presentation R80,2bn R22,7bn R6,1bn +10,9%* +1,2pp* +53,6% EBITDA EBITDA margin Adjusted HEPS R41,8bn 49,7% 384cps 03 Appendices 12,0% ^ Group Holdco Capex/Revenue Net debt/EBITDA Net debt/EBITDA R10,1bn 1,1x 2,7x Interim dividend not declared due to uncertainties resulting from COVID-19 impacts 04 Datat sheets *Constant currency information after adjusting for the impact of proforma adjustments | ^IAS 17 capex: excludes capex attributable to right-of-use (RoU) assets 5 5 All subscriber numbers in this presentation are compared to end December 2019 unless otherwise stated 97 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview COVID-19 Prioritising our people, customers & network | Accelerated digitalisation | Efficiency & liquidity focus Managing Impacts Future focus the crisis • Lockdowns • Work from home • Agile working 02 Results presentation Social • Economic slowdown • Y'ello Hope packages • Support to staff & communities (our people & communities) • Health & wellbeing • Safety measures • Health system support • Lower transactions • Digital channels ramped up • Accelerated digitalisation Commercial • Affordability pressure • Free sites and discounts • Stimulate usage (including our customers) • Shift from voice to data • Innovative offerings • Home connectivity • Site rollout delayed • Focus on resilience & capacity • Rollout resumption 03 Appendices Network • Data payload surges • Capacity investments/spectrum • Modernisation/spectrum & supply chain • Supply chain disruption • Built 12-month buffer • Supply chain management • Currency volatility • Built financial resilience • Reducing US$ debt Funding • Cash upstreaming delayed • Cash conservation & liquidity • Disciplined capital allocation headroom & liquidity • Volatile capital markets • ARP readiness for execution • 2020 refinancing completed 04 Datat sheets 6 98 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Key group trends in H1 through COVID-19 S hort-term “V-shaped” recovery | Data & fintech acceleration | Longer-term economic impacts still uncertain Subscribers gross adds Active data users gross adds MoMo users net adds 02 Results presentation Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Voice traffic Data traffic Fintech volume 03 Appendices Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun 04 Datat sheets 7 The charts above denote each measure indexed to 100 in Jan and illustrate how ensuing months have developed relative thereto 99 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Quarter to quarter performance in H1 Q 1 largely “pre-Covid” | Resilience & commercial recovery during Q2 Subscriber net adds Active data users net adds MoMo users net adds Churn lags recovery Recovery during Q2 “Cashless in Covid” theme 6,5m 3,6m 02 Results presentation 2,9m 3,2m 4,1m 0,4m Q1 20 Q2 20 Q1 20 Q2 20 Q1 20 Q2 20 Voice reven ue Data reven ue Fi ntech reven ue P ressur e on reven ue S trong reven ue growth Fee disco unts in Q2 03 Appendices 38,6% 6,3% 26,0% 26,4% 11,4% Q1 20 Q2 20 Q1 20 Q2 20 -0,9% 04 Datat sheets Q1 20 Q2 20 8 100 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

South Africa 01 Results overview S ustained momentum in underlying turnaround; double-digit EBU growth Ma r ket context Key activities Solid results 02 Results presentation ► Macroeconomic weakness impacting ► Execution on prepaid pricing and CVM ► Underlying consumer & enterprise consumer spend delivered growth ► Focus on data first (“Mega Deals”) offers ► COVID-19 effects ► EBU double-digit growth , ► EBU revival, stabilised churn, uptake growth for 3 rd consecutive quarter ► Cell C accounting on cash basis of “work from home”, customised ► MoMo recorded 1,1m registered users impacting service revenue data deals ► Temporary spectrum awarded ► Scaling of MoMo, driven by innovative ► Strong EBITDA margin performance ` & relevant solutions ► Data traffic up 77%, reduction in overall ► Driving cost efficiencies data prices by 32,6% 03 Appendices ► Invested R2,8bn^ in the network ► Led in the MyBroadband Q2 2020 “Best Network Quality” & successful 5G launch 04 Datat sheets ^ IAS 17 capex: excludes capex attributable to right-of-use (RoU) assets 9 101 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Nigeria Strong o perational and commercial performance | Data momentum sustained Ma rket context Key activities Solid results 02 Results presentation ► ► Market s hare gains, additional ► Added 6,8m subscribers Macroeconomic weakness, oil price & forex volatility impacting registration devices & CVM ► Added 3,9m active data users; data consumer demand & spend ► Increased 4G coverage and traffic up 141,2% ► COVID-19 effects smartphones penetration ► 4G population coverage increased ► ► Increase in value-added tax Scaling MoMo agent network to ~50% ► Improved adoption of digital offerings ► Momentum in fintech: 222k registered agents, +1,6m MoMo users ► Renegotiated IHS tower lease ► agreement 1,6m digital subscriptions 03 Appendices ► Efficiency programme partially offsetting forex pressures 04 Datat sheets 10 102 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview Regional operational review A ll regions performed well | WECA turnaround completed | Business model resilient SEAGHA WECA MENA 02 Results presentation +18,9%* +7,0%* +21,8%* service revenue service revenue service revenue +28,8%* +25,3%* +45,2%* data revenue data revenue data revenue 03 Appendices MTN Ghana strong results - double-digit Service revenue growth ahead of Complex geopolitical challenges – growth across all key revenue curves inflation across the region sustained growth MTN Rwanda and MTN Zambia growing MTN Cameroon service revenue growth MTN Syria and MTN Sudan service in double digits accelerated - strong subscriber growth revenue increase underpinned by voice and data revenue Strong data growth across all opcos MTN Ivory Coast turnaround completed - MTN Irancell JV sustained strong regained market and value share operating results 04 Datat sheets * Constant currency 11 103 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020

01 Results overview 02 Results presentation S trategic review 03 Appendices Rob Shuter Group President and CEO 04 Datat sheets 12 104 MTN Group Limited Interim financial results for the six months ended 3 0 June 2020