SENS Note - 27 February 2017

MTN - update on trading statement

MTN is currently in the process of finalising its financial results for the year ended 31 December 2016 (“FY2016”) which will be announced on the Stock Exchange News Service of the JSE on Thursday, 2 March 2017. Following the trading statement published on 8 February 2017, shareholders are further advised that MTN expects to report for FY2016 a basic headline loss per share of between 74 cents and 81 cents and a basic loss per share of between 137 cents and 151 cents. In the prior year comparable period MTN reported headline earnings per share of 746 cents and earnings per share of 1 109 cents. The results for the year were impacted by the Nigerian regulatory fine, which had a 455 cents per share (cps) negative impact. In addition, the results were negatively impacted by the following: - Foreign exchange losses (324 cps); - The ‘interest unwind’ related to the Nigerian regulatory fine (45 cps); - The MTN Zakhele Futhi BBBBEE transaction charge (88 cps); - Professional fees related to the settlement of the Nigerian regulatory fine (73 cps); - Losses from our investments in Digital Group being mainly Africa Internet Holdings (AIH), Middle East Internet Holdings (MEIH) and Iran Internet Group (IIG) (39 cps); - Hyperinflation impact(37 cps); and - Losses from the Nigeria tower company mainly as a result of foreign exchange losses on US dollar denominated loans (122 cps); (following MTN exchanging its interest in the Nigeria Tower Company for the increased stake in IHS Holding this investment will be shown as “an asset available for sale”).

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