Trading Statement for the year ended 31 December 2016 MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) Share code: MTN ISIN ZAE000042164 ("MTN" or the “Company”) TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 MTN is currently in the process of finalising its financial results for the year ended 31 December 2016 (FY2016) which will be announced on the Johannesburg Stock Exchange News Service on or about Thursday, 2 March 2017. Paragraph 3.4(b) of the JSE Limited Listings Requirements require a trading statement to be published as soon as an issuer and its directors are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Shareholders are therefore advised that MTN expects to report a loss in basic headline earnings per share (HEPS) and basic earnings per share (EPS) for FY2016. In the prior year comparable period MTN reported HEPS of 1 204 cents and EPS of 746 cents. The expected decline in the HEPS and EPS is mainly as a result of the regulatory fine imposed on MTN Nigeria (the Nigerian regulatory fine) following a resolution with the Federal Government of Nigeria on 10 June 2016. The Nigerian regulatory fine is expected to have an estimated negative impact of approximately 474 cents on HEPS and EPS, respectively. Other contributing factors to the negative HEPS and EPS for FY2016 were foreign exchange losses in a number of operations, losses from joint ventures and associates, additional depreciation resulting from prior hyperinflation adjustments in MTN Irancell ,the Zakhele Futhi tax and share-based payment charges and professional fees incurred in respect of the settlement of the Nigeria regulatory fine and planned listing. FY2016 results are further expected to be negatively impacted by the under-performance of MTN Nigeria and MTN South Africa in the first half of 2016. MTN Nigeria’s first half performance was impacted by the disconnection of 4,5 million subscribers in February 2016 in compliance with the Nigerian Communications Commission subscriber registration requirements. The withdrawal of regulatory services, which was resolved in May 2016, the weak economy and the depreciation of the Naira against the USD also negatively impacted MTN Nigeria’s performance. Consolidated results in Rand terms from Nigeria were affected by the weaker Naira in the second half of the year. The disappointing results from MTN South Africa in the first six months, were largely due to the poor postpaid performance. A further trading statement will be issued once the Company obtains a reasonable degree of certainty as to the likely range within which the HEPS and EPS are expected to be finalised. The financial information on which this trading statement is based has neither been reviewed nor reported on by MTN`s external auditors. Fairland 8 February 2017 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 08/02/2017 08:30:00 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.