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Group president and CEO, Ralph Mupita comments:

“In 2021, we adapted to extraordinary circumstances brought about by the COVID-19 pandemic and started shaping the MTN of the future through the execution of our Ambition 2025 strategy. During the year, COVID-19 has impacted lives and livelihoods across our markets and, as MTN Group, we were honored to have played a humble role in supporting the Africa Union’s efforts to bring much needed vaccines to our markets at a time where the continent was faced with challenging conditions on accessing vaccines equitably with other continents.

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Highlights

MTN is a pan-African mobile operator with the strategic intent of ‘Leading digital solutions for Africa’s progress’. We have 272 million customers in 19 markets and are inspired by our belief that everyone deserves the benefits of a modern connected life.

Subscribers increased by 2.9 million to 272.4 million excluding Nigeria +11 million
Service revenue grew by 18.3%*
IFRS reported EBITDA (before once-off items) increased by 5.3% (up 23.7%*)
Reported EBITDA margin improved by 1.7 percentage points (pp) to 44.5% (up 2.2 pp* to 44.5%*)
IFRS reported HEPS at 987 cps, up 31.8% Non-operational impacts decreased HEPS by 123 cps
ROE improved to 19.6%(up 2.6pp)
Holding company (Holdco) leverage improved to 1.0x (2020: 2.2x), Holdco net debt down to R30.1 billion (2020: R43.3 billion)
Capex of R39.4 billion (R32.7 billion under IAS17 with capex intensity of 18.0%)
Final dividend declared 300cps
MoMo Active users up 22.6% to 56.8 million
Value of transactions up to 56.8% to US$239.4 billion

* Constant currency information after accounting for the impact of the pro forma adjustments as defined. Any forward-looking financial information disclosed in this results announcement, including the dividend guidance, is the directors’ responsibility and has not been reviewed or audited or otherwise reported on by our external joint auditors.