Dealings in securities by a director of MTN Group Limited MTN Group Limited (Incorporated in the Republic of South Africa) Registration Number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 ("MTN ") DEALINGS IN SECURITIES BY A DIRECTOR OF MTN GROUP LIMITED In compliance with paragraphs 3.63 – 3.66 of the JSE Limited (“JSE’) Listings Requirements (“Listings Requirements”), we hereby announce the following transaction in MTN securities by the executive chairman of MTN: Name: PF Nhleko Office held: Executive Chairman of MTN Group Limited Date of transaction: 30 November 2016 Nature of transaction: Sale Class of shares: MTN ordinary shares Sale price per share: R113.86 Number of shares: 1,079,506 Total value of shares: R 122,912,553.16 Nature of interest: Indirect beneficial In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements, MTN refers to the announcement on the Stock Exchange News Service of the JSE on a collar transaction dated 6 November 2014 and further advises that it has been informed that the transaction was terminated as follows: Name: PF Nhleko Office held: Executive Chairman of MTN Group Limited Date of transaction: 30 November 2016 Nature of transaction: Termination of Collar on MTN ordinary shares Class of shares: Options over MTN ordinary shares Terminated Purchased Put Option Strike: R226.73 per share Terminated Sold Call Option Strike: R320.05 per share Number of contracts: 1 218 981 Beneficial Termination Value: R130,442,175.01 Nature of interest: Indirect beneficial Prior clearance to deal in these transactions was obtained in accordance with MTN`s policy with regard to directors’ dealings as well as the Listings Requirements. Fairland 30 November 2016 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 30/11/2016 05:27:00 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.