Investor Presentaiton

MTN Conclusion Committed to delivery of Ambition 2025 strategy 01 Solid FY 21 growth through strong operational execution and sustained commercial momentum 11m subscribers added (excl. MTN Nigeria) | Nigeria back into growth in Q4, ~+1m subs • ROE expanded 2.6pp YoY to 19.6% | Operating cashflow up 35.2% to R38.3bn 02 Increased financial flexibility to capture Ambition 2025 opportunities • Holdco leverage at 1.0x | Cash upstreaming of R18.4bn Focus on debt mix and paying down non-ZAR debt | Paid down US$800m of US$ debt 03 Material progress in ARP and portfolio transformation execution • IHS listing and SA tower transaction | Localisations · Middle East exit Yemen and Syria 04 Advanced in building the largest and most valuable platforms • • Strong growth in fintech drivers Structural separations 05 Creating shared value • • Economic value added (~R115bn) across our markets Strides in ESG work and ratings across the business 06 Enhanced guidance from FY 22 • • Enhanced growth guidance | 2022 capex of R34.4bn, reducing intensity Revised dividend policy and guidance | At least 330cps anticipated for FY 22 39

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