Withdrawal of Cautionary Announcement

MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
JSE Share code: MTN
ISIN: ZAE000042164
(MTN or Company)

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders of MTN are referred to the cautionary announcements issued by MTN on the Stock
Exchange News Service of the JSE Limited dated 15 July 2022, 22 August 2022 and 30 September 2022
in relation to MTN and Telkom SA SOC Limited (Telkom) entering into discussions relating to MTN
acquiring the entire issued share capital of Telkom in return for shares or a combination of cash and
shares in MTN (Proposed Transaction).

After extensive engagements and deliberations between the parties, shareholders are advised that
the discussions regarding the Proposed Transaction have terminated, as the parties were unable to
reach agreement to their mutual satisfaction on the process going forward. Consequently, caution is
no longer required to be exercised by shareholders when dealing in MTN securities.

The board of directors of MTN accepts responsibility for the information contained in this
announcement and certifies that, to the best of its knowledge and belief, such information is true, and
that this announcement does not omit any facts that would make any of the information false or
misleading or would be likely to affect the importance of any information contained in this
announcement.

Fairland
19 October 2022

Transaction and joint sponsor
J.P. Morgan Equities South Africa Proprietary Limited

Lead joint sponsor
Tamela Holdings Proprietary Limited

Joint financial advisors to MTN
J.P. Morgan Chase Bank, N.A., Johannesburg Branch
Standard Bank of South Africa
Tamela Holdings Proprietary Limited

Joint Legal Advisors to MTN
ENS Africa
Gwina Attorneys Inc.

Date: 19-10-2022 11:21:00
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