MTN Nigeria Communications PLC Proposed Issuance Of Up To N50,000,000,000 Series I & II Commercial Paper Issuance MOBILE TELEPHONE NETWORKS HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration number 1993/001411/06) (“MTNH”) Issuer code: BIMTN MTN NIGERIA COMMUNICATIONS PLC PROPOSED ISSUANCE OF UP TO N50,000,000,000 SERIES I & II COMMERCIAL PAPER ISSUANCE PROGRAMME Noteholders are advised that MTN Nigeria Communications Plc (“MTN Nigeria” or “the Company”) has notified The Nigerian Stock Exchange and the investing public of its proposed Series I and II Commercial Paper issuance (the “Issuance”) of up to N50 billion. Having already received FMDQ Securities Exchange Plc approval for the registration of its N100,000,000,000 (One Hundred Billion Naira) Commercial Paper Programme (“the Programme”), the Issuance is part of the Company’s strategy to diversify its financing sources with the funds being deployed towards working capital and general corporate purposes. Further details on the initial issuance (as well as subsequent issuances) will be communicated to the market as the transaction(s) occur. By the order of the Group Board MTN Group Secretary For further information contact: Thato Motlanthe, MTN Group Executive for Investor Relations Tel: +27 83 869 3348 Email: Thato.Motlanthe@mtn.com 25 May 2020 Debt Sponsor: The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division. Date: 25-05-2020 08:00:00 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.