MTN GROUP LIMITED - Update to shareholders and further cautionary announcement

Update to shareholders and further cautionary announcement

MTN Group Limited

(Incorporated in the Republic of South Africa)

Registration number: 1994/009584/06

ISIN: ZAE000042164

Share code: MTN

(“MTN” or the “Company”)

Update to shareholders and further cautionary announcement

Shareholders are referred to the announcements issued by the Company on the Stock Exchange News Service
(“SENS”) of the JSE Limited on 26 October 2015, 30 October 2015, 2 November 2015, 3 November 2015 and 9
November 2015, respectively.

Shareholders were advised in previous SENS announcements that the Company would update shareholders on
all material developments on this matter.

Shareholders are advised that the Executive Chairman of the Company, Mr Phuthuma Nhleko, has personally
met with the Nigerian authorities to continue the ongoing discussions with them regarding the fine of
N200,000 for each unregistered subscriber (“the fine”), the equivalent of US$5.2 billion imposed on MTN
Nigeria by the Nigerian Communications Commission ("NCC"). These discussions include matters of non-
compliance and the remedial measures that may have to be adopted to address this.

Although the Nigerian Communications Commission (“NCC”) set a deadline for payment of the fine by
Monday, 16 November 2015, shareholders are advised that the Nigerian authorities have, without prejudice,
agreed that the imposed fine will not be payable until the negotiations have been concluded.

MTN is committed to resolving the matter together with the NCC as soon as possible and will continue to
update stakeholders of any material developments regarding the afore-mentioned fine via SENS.

Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company’s
securities until a further announcement is made.

Fairland

16 November 2015

Sponsor

Deutsche Securities (SA) Proprietary Limited

Date: 16/11/2015 07:05:00 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.