MTN ZAKHELE FUTHI (RF) LIMITED - Further Cautionary Announcement

Further Cautionary Announcement

MTN Zakhele Futhi (RF) Limited
(Incorporated in the Republic of South Africa)
(Date of incorporation: 21 June 2016)
(Registration number: 2016/268837/06)
(JSE Share code: MTNZF)
(ISIN: ZAE000279402)
(LEI: 378900429C4F73B1BE74)
("MTNZF")

Further Cautionary Announcement


Further to the cautionary announcement issued on the stock exchange news service of the JSE Limited ("SENS") on 22
August 2025, MTNZF shareholders ("Shareholders") are advised that the board of MTNZF ("Board") is still in the process
of finalising its preferred approach to the unwind of the MTNZF scheme and return of the residual Net Asset Value ("NAV")
to Shareholders ("Final Unwind Distribution"), and is engaging with its advisers and MTN Group Limited in this regard.
The final amount of the residual NAV is dependent on the costs of the unwind and associated provisions to be made by
MTNZF for any liabilities following the implementation of the Final Unwind Distribution.

This announcement does not constitute an offer, undertaking or firm intention to make any offer to Shareholders.
Shareholders are advised that the Board's deliberations are ongoing and that there is currently no certainty regarding the
format, structure, timing and quantum of the Final Unwind Distribution.

Accordingly, Shareholders are advised to continue to exercise caution when trading in their MTNZF Shares until a further
SENS announcement is made. The Board will update Shareholders as more information becomes available.



Johannesburg
6 October 2025

JSE Sponsor
Tamela Holdings Proprietary Limited

Legal and tax adviser
Webber Wentzel Attorneys

Date: 06-10-2025 09:40:00
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