Investor Presentaiton

MTN Macro context into 2022 Economic outlook - GDP Nigeria SSA South Africa 3.7% 3.8% 5.0% 2.6% 2.2% COVID-19 • • Emerged from 4th wave of infections Economies currently open with greater mobility ~11% of Africa fully vaccinated at 28 Feb 2022 Africa needs to vaccinate 70% of population by end of 2022 • 2.7% 2021 2022F 2021 2022F 2021 2022F Currencies & commodities 2021 • Average rand/US$: R14.83/$ 2022F R14.60/$ Average naira/US$: Brent crude oil US$: N410.18/$ N422.91/$ $74.17/bbl >$100.00/bbl Source: IMF Source: Bloomberg, Dollar forecast, Trading economics Source: WHO, AU, Africa CDC Mobile & fintech acceleration • • 781m (72%) people in SSA still not connected to mobile internet SSA mobile internet users to grow to 474m by 2025 from 303m in 2020 9.3% CAGR • ~46% of Africa's population is unbanked • 95% of payments remain cash based with 90% of economies driven by small business 37 37 Source: GSMA, World Bank, Market sizing: internal desktop research, delta partners market sizing

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