MTN GROUP LIMITED - Trading statement for the six-month period ended 30 June 2022

Trading statement for the six-month period ended 30 June 2022

MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(MTN or Group)

Trading statement for the six-month period ended 30 June 2022

MTN is currently in the process of finalising its results for the six-month period ended 30 June 2022
and provides this trading statement in accordance with paragraph 3.4 (b) (i) of the JSE Limited Listings
Requirements (JSE Listings Requirements).

The JSE Listings Requirements require that issuers must publish a trading statement as soon as they
are satisfied that a reasonable degree of certainty exists that the financial results for the period to be
reported upon next will differ by at least 20% from the financial results for the previous corresponding
period.

Accordingly, shareholders are advised that MTN expects to report:

      •   An increase in earnings per share (EPS) of between 195% and 205% (or 289 cents to 303
          cents). Considering the EPS of 148 cents for the corresponding six-month period ended 30
          June 2021, this translates to a range of 437 cents to 451 cents for the six-month period ended
          30 June 2022.
          EPS includes impairment losses that mainly relate to goodwill totalling approximately 25
          cents (2021: 73 cents), an impairment loss on remeasurement of disposal groups of 52 cents
          (2021: 2 cents) and a net loss on the disposal of SA towers of 45 cents (2021: 0 cents).
      •   An increase in headline earnings per share (HEPS) of between 40% and 50% (or 155 cents to
          194 cents). Considering the HEPS of 387 cents for the corresponding six-month period ended
          30 June 2021, this translates to a range of 542 cents to 581 cents for the six-month period
          ended 30 June 2022.
          HEPS was negatively impacted by some non-operational and once-off items of approximately
          94 cents (2021: 118 cents) for the six-month period. These include hyperinflation excluding
          impairments (2 cents), foreign exchange losses (88 cents) and an IFRS 2 charge arising from
          the MTN Ghana localisation transaction (4 cents).

The anticipated changes in EPS and HEPS for the six-month period ended 30 June 2022, are illustrated
in the table below:

               30 June 2021       30 June 2022 expected range    Expected increase      Expected increase
                   (R'cents)                         (R'cents)                 (%)              (R'cents)
EPS                     148                          437 - 451        195% - 205%               289 - 303
HEPS                    387                          542 - 581          40% - 50%               155 - 194



The financial information on which this trading statement is based has not been reviewed and
reported on by the external auditors of MTN. The Group’s financial results are expected to be
announced on the Stock Exchange News Service of the JSE Limited on or about Thursday, 11 August
2022.


Fairland
1 August 2022


Lead sponsor

Tamela Holdings Proprietary Limited

Joint sponsor

JP Morgan Equities South Africa Proprietary Limited

Date: 01-08-2022 07:30:00
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