Fulfilment of scheme conditions - MTNZBE MTN Zakhele (RF) Limited (Incorporated in South Africa) (Registration number 2010/004693/06) Share code: MTNZBE ISIN: ZAE000208526 (“MTN Zakhele” or “MTNZ” or the “Company”) FULFILMENT OF SCHEME CONDITIONS If you have any queries regarding the contents of this announcement and/or the unwinding of MTN Zakhele please contact the MTNZ Shareholder Call Centre (083 123 6869) or visit the MTN Zakhele website www.mtnz.co.za. Unless defined in this announcement or if the context dictates otherwise, capitalised terms used in this announcement have the same meanings as given in the announcement dated 22 August 2016 detailing the terms of the unwinding of MTN Zakhele. MTNZ Shareholders are referred to the announcements released by the Company on SENS on 22 August 2016, 12 October 2016, 17 October 2016 and 22 November 2016 in relation to the unwinding of MTN Zakhele in November 2016. MTNZ Shareholders are hereby advised that all of the conditions in relation to the Scheme have been fulfilled (or deemed fulfilled) or waived. The Operative Date of the MTNZ Integrated Unwinding is therefore Thursday, 24 November 2016, as previously communicated. All remaining salient dates and times pertaining to the implementation of the MTNZ Integrated Unwinding, as detailed in the Announcement, remain unchanged. By order of the Board of Directors of MTN Zakhele (RF) Limited 24 November 2016 Corporate advisor to MTN Zakhele Tamela Legal and tax advisor to MTN Zakhele, MTN and MTN Zakhele Futhi Webber Wentzel Transaction sponsor to MTN Zakhele Nedbank Corporate and Investment Banking 1 Date: 24/11/2016 05:15:00 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.