MTN South Africa signs an expanded roaming agreement with Cell C MTN Group Limited (Incorporated in the Republic of South Africa) Registration Number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 ("MTN Group”) MTN South Africa signs an expanded roaming agreement with Cell C MTN Group confirms that MTN South Africa has signed a new long-form roaming and services agreement with Cell C, subject to certain conditions precedent. In May 2018, Cell C signed its first roaming agreement with MTN, providing Cell C with 2G, 3G and 4G roaming services on MTN’s network in select areas of South Africa. The new agreement will see this access expanded to enable Cell C to roam on MTN’s network in all areas of the country. This is aligned to MTN’s strategy to further develop the group’s wholesale business and will allow both MTN and Cell C to harness greater efficiencies in providing telecommunications services, while supporting a more sustainable and competitive industry. MTN looks forward to transparent engagement with relevant stakeholders regarding this important industry milestone. As noted in our quarterly trading update for the period ended September 2019, MTN SA continues to account for Cell C roaming revenue on a cash basis, and payments received since June 2019 have remained on schedule. Cell C continues to work on its recapitalisation and liquidity challenges which, if adequately resolved, would result in a change in MTN’s accounting treatment of Cell C roaming revenues back to an accrual accounting methodology. Fairland 18 November 2019 Lead sponsor J.P. Morgan Equities South Africa Proprietary Limited Joint sponsor Tamela Holdings Proprietary Limited Date: 18/11/2019 07:05:00 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.