Dealings in securities by directors of MTN MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 ("MTN" or "the Company") DEALINGS IN SECURITIES BY DIRECTORS OF MTN In compliance with paragraphs 3.63 – 3.66 of the JSE Listings Requirements, we hereby announce the following transactions in MTN securities by a Directors of MTN: Name of director: Robert Andrew Shuter Office held: Group President and CEO Name of Company: MTN Date of transaction: 24 March 2020 Number of shares purchased: 160 200 Class of security: MTN ordinary shares of 0.01 cents each Market price at which shares R35.66 were purchased Total value of the transaction: R5 712 732 Nature of transaction: Off-market settlement of shares awarded to an employee in accordance with the MTN Performance Share Plan Nature of interest: Direct beneficial Name of director: Ralph Tendai Mupita Office held: Group Chief Financial Officer Name of company: MTN Date of transaction: 24 March 2020 Number of shares purchased: 39 000 Class of security: MTN American Depositary Receipts (“ADRs”) Price per ADR USD 1.951 and USD 1.958 Total value of the transaction: USD 76 239.10 Nature of transaction: On-market purchase of ADRs Nature of interest: Direct beneficial Date of transaction: 25 March 2020 Number of shares purchased: 144 000 Class of security: MTN American Depositary Receipts (“ADRs”) Price per ADR USD 2.102211 Total value of the transaction: USD 302 718.40 Nature of transaction: On-market purchase of ADRs Nature of interest: Direct beneficial Prior clearance to deal in the above-mentioned transactions was obtained in accordance with MTN`s policy as well as the Listings Requirements of the JSE Limited. Fairland 26 March 2020 Lead Sponsor Tamela Holdings Proprietary Limited Joint Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 26-03-2020 05:16:00 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.