MTN completes the sale of ATC joint ventures for R8,9 billion MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) (Share code MTN) (ISIN: ZAE000042164) (“MTN” or “the Company” or “the Group”) MTN completes the sale of ATC joint ventures for R8,9 billion Our asset realisation programme (“ARP”), introduced in March 2019, aims to reduce debt, simplify our portfolio, reduce risk and improve returns. Subsequent to MTN Group’s announcement on 11 March 2020 reporting its 2019 annual results and the conclusion of the disposal of its stake in ATC Uganda for R2,2 billion, MTN confirms that regulatory approvals have now been received for the disposal of its stake in ATC Ghana. MTN is due to receive further transaction proceeds of approximately $384 million (R6,7 billion, based on an exchange rate of R17,4:$1) in the next week. This takes the total proceeds received for the disposal of both ATC Uganda and ATC Ghana to R8,9 billion, which will be applied to paying down US-dollar debt and general corporate purposes. On completion, the Group will have realised R15.0 billion within the first 12 months of its initial three- year ARP. Consequently, MTN has enhanced its ARP guidance framework to a target of at least R25 billion in further asset realisations over the medium-term (3-5 years), and a holding company leverage target ratio of below 2,0 times. MTN has strengthened its operational and financial position is well-placed to weather the prevailing turbulent macroeconomic environment. The Group remains focused on its strategic execution and committed to its clearly-defined and disciplined capital allocation framework. MTN declared a final dividend of 355 cents per share on 11 March 2020, bringing the total dividend to 550 cents per share for the 2019 financial year. Salient dates relating to the payment of the final dividend are as follows: Last day to trade cum dividend on the JSE Tuesday, 31 March 2020 First trading day ex dividend on the JSE Wednesday, 1 April 2020 Record date Friday, 3 April 2020 Payment date Monday, 6 April 2020 Fairland 19 March 2020 Lead sponsor Tamela Holdings Proprietary Limited Joint sponsor JP Morgan Equities South Africa Proprietary Limited Date: 19-03-2020 03:09:00 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.