Mandatory audit firm rotation MTN Group Limited (Incorporated in the Republic of South Africa) Registration number: 1994/009584/06 ISIN: ZAE000042164 Share code: MTN (“MTN” or the “group”) Mandatory audit firm rotation The group is required to rotate its auditors by 2024 in accordance with mandatory audit firm rotation regulations issued by the Independent Regulatory Board for Auditors (IRBA). Both the current joint group auditors, PricewaterhouseCoopers and SNG Grant Thornton, are required to rotate off the group audit. In addition, MTN Nigeria is required to rotate auditors following the introduction of the Nigerian Code of Corporate Governance (NCCG) which became effective on 15 January 2019. As a result of these regulations to strengthen the independence of the external audit function, and in recognition of this emerging best practice governance trend, the group audit committee concluded a comprehensive tender process and the board will be recommending Ernst & Young (EY) as the new joint group audit firm for approval by shareholders at the AGM in May 2020. The group audit committee also evaluated the best approach to reduce audit risk during the transition of audit firms and concluded on a phased transition approach for the current joint audit arrangement. The group will maintain its joint audit approach during the transition period and, following shareholder approval, EY will replace SNG Grant Thornton for the 2021 financial period as the joint group audit firm. PricewaterhouseCoopers will rotate off the MTN Group audit following the transition period. The group will evaluate the continuation of a joint audit approach following this transition period. The development of the audit profession remains a focus for the group and in this regard the group will be monitoring certain internal transformation targets as committed by EY as well as initiatives agreed on to build local audit knowledge, experience and capabilities in the telecommunications sector. Fairland 28 November 2019 Lead Sponsor JP Morgan Proprietary Limited Joint Sponsor Tamela Holdings Proprietary Limited Date: 29-11-2019 05:07:00 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.