Director Dealing - 15 March 2019

MTN GROUP LIMITED - Dealing in securities

MTN 201903150030A Dealing in securities MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN code: ZAE000042164 ("MTN" or "the Company") DEALING IN SECURITIES BY A DIRECTOR AND AN ASSOCIATE OF A DIRECTOR OF MTN In compliance with paragraphs 3.63 – 3.66 of the JSE Limited Listings Requirements, we hereby announce the following transactions in MTN securities by a director and associate of a director of MTN: 1. Name of Associate Pallinghurst Stables Proprietary Limited Relationship to Director: Associate of Robert Andrew Shuter Office held: Executive Director and Group President and CEO Name of the Company: MTN Total number of shares 100 000 Total value of transaction R9 473 073.10 Nature of transaction: On-market purchase of shares Nature of interest: Indirect beneficial Date of 11 March 12 March 13 March 14 March purchase Number of 9 500 60 000 500 30 000 shares Lowest Price R92.4000 R93.6900 R96.5700 R95.9400 per share Highest R 92. 9700 R94.9900 R96.5700 R95.9500 Price per share Volume R92.7218 R94.4255 R96.5700 R95,9467 Weighted Average Price Value of R880 857.10 R5 665 R48 285.00 R 2 878 401.00 Transaction 530.00 Fairland 15 March 2019 Lead Sponsor J.P. Morgan Equities South Africa Proprietary Limited Joint Sponsor Tamela Holdings Proprietary Limited Date: 15/03/2019 12:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.