MTN Dealings in Securities by Mobile Telephone Networks Holdings Limited a Subsidiary and an Associate of MTN MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN code: ZAE000042164 ("MTN" or "the Company") DEALING IN SECURITIES BY MOBILE TELEPHONE NETWORK HOLDINGS LIMITED (“MTN HOLDINGS”) A SUBSIDIARY AND AN ASSOCIATE OF MTN In compliance with paragraphs 3.63 – 3.92 of the JSE Limited Listings Requirements, we hereby announce the following transaction in MTN securities on behalf of the 2016 MTN Employee Share Ownership Plan (“ESOP”) Trust. The 2016 MTN ESOP Trust was established by MTN for the purpose of incentivising, rewarding and retaining Level and 1 and 2 employees. These employees are not executives or senior management within MTN. Name of associate: MTN Holdings Relationship with MTN: Subsidiary of MTN Name of the Company: MTN Date of transaction: 11 December 2019 Number of securities transferred: 35 457 Class of security: MTN ordinary shares of 0.01 cents each Price at which R 85.88 securities were transferred Total value of securities: R3 045 047.16 Nature of transaction: Off-market transfer of treasury shares to MTN 2016 ESOP Trust Nature of interest: Direct beneficial Prior clearance to deal in the above-mentioned transaction was obtained in accordance with MTN`s policy as well as the Listings Requirements of the JSE Limited. Fairland 11 December 2019 Lead Sponsor Tamela Holdings Proprietary Limited Joint Sponsor JP Morgan Proprietary Limited Date: 11-12-2019 04:35:00 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.