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Leading digital solutions for Africa’s progress MTN Ghana Results Presentation for the nine-month period ended 30 September 2025
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The information contained in this document (presentation) has not been verified independently. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Opinions and forward-looking statements expressed herein represent those of Scancom PLC (the “Company”) at the time. Undue reliance should not be placed on such statements and opinions because, by nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and the Company’s plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Neither the Company nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (whether based on negligence or not and/or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in the statements from the presentation whether to reflect new information or future events or circumstances otherwise. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation and any related conference call or webcast (including any related Question & Answer session/s) (“contents”) may include data or references to data provided by third parties. Neither the Company, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantee that these contents are exact, accurate, comprehensive or complete, nor are they obliged to keep the contents updated, nor to correct the contents in the event that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents by any means, the Company may introduce changes it deems fit and suitable, and it may also omit partially or completely as it deems it necessary any of the elements of this presentation, and in case of any deviation between such a version in question and this very presentation, the Company assumes no liability for any possible or identified discrepancies. Disclaimer 2
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Business overview Agenda Creating shared value Looking ahead Q&A 3 01 02 03 04
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4 Stephen Blewett CEO 01 Business Overview
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Macro and regulatory developments Managing External Forces to Sustain Growth GLOBAL MACRO-ECONOMIC REGULATORY Volatile Global economy Improving Macros Partners for Development • Geopolitical tension • Tariff wars • Withdrawal of aid funding programmes • Average inflation rate for the period eased by 5.6 pp from 22.9% last year to 17.3% • September Inflation - 9.4% - slightly moderated from the 13.7% recorded in June 2025 • The Ghana cedi appreciated against the US dollar in Q2 to GHS10.3/$1 but reversed slightly in Q3 to end at GHS12.4/$1 by end of September 2025 • E-levy abolished • Collaborated with government and industry players to give a 15% value increase on our data offers to our customers • Additional Spectrum acquisition • Paid GHS7.3 billion in direct and indirect taxes and paid GHS400.2 million in fees and levies to government agencies Rates are based on data from the Bank of Ghana 5 Q&A Looking aheadCreating shared value Business overview
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Data revenue (GHSbn) Financial performance | Top-line growth underpinned by commercial momentum Implementing commercial strategies to drive growth across all business segment 6 Q&A Looking aheadCreating shared value Business overview Service revenue (GHSbn) Digital revenue (GHSm) 12.7 17.3 4.6 6.0 9M 24 9M 25 Q3 24 Q3 25 6.3 9.3 2.4 3.3 9M 24 9M 25 Q3 24 Q3 25 2.6 2.9 0.9 0.9 9M 24 9M 25 Q3 24 Q3 25 159.6 324.4 58.2 134.1 9M 24 9M 25 Q3 24 Q3 25 36.3% YoY Voice revenue (GHSbn) 29.9% YoY 9.3% YoY 2.8% YoY 48.6% YoY 40.2% YoY 103.3% YoY 130.5% YoY
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Cost of sales (GHSbn) Financial performance | Top-line growth underpinned by commercial momentum Balancing growth with operational efficiency 7 Q&A Looking aheadCreating shared value Business overview Mobile money revenue (GHSbn) 3.1 4.3 1.2 1.5 9M 24 9M 25 Q3 24 Q3 25 2.5 3.0 0.9 1.0 9M 24 9M 25 Q3 24 Q3 25 3.1 4.3 1.2 1.5 9M 24 9M 25 Q3 24 Q3 25 39.2% YoY Operational expense (GHSbn) 27.3% YoY 37.0% YoY 30.7% YoY 19.8% YoY 14.8% YoY EBITDA (GHSbn) 7.2 10.2 2.6 3.5 9M 24 9M 25 Q3 24 Q3 25 41.6% YoY 34.7% YoY
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EBITDA margin (%) Financial performance | Top-line growth underpinned by commercial momentum Consistent EBITDA performance supporting bottom-line gains 8 Q&A Looking aheadCreating shared value Business overview Profit after tax (GHSbn) 56.2 58.4 56.2 58.4 9M 24 9M 25 Q3 24 Q3 25 268.1 345.1 45.5 94.5 9M 24 9M 25 Q3 24 Q3 25 3.8 5.5 1.4 1.9 9M 24 9M 25 Q3 24 Q3 25 Finance income (GHSm) 28.7% YoY 25.2% YoY 2.2pp YoY 2.2pp YoY 45.9% YoY 29.9% YoY Finance cost (GHSm) 398.1 486.3 75.6 200.6 9M 24 9M 25 Q3 24 Q3 25 22.2% YoY 165.5% YoY
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Stephen Blewett CEO 9 02 Creating shared value
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ESG at core | Promoting socio-economic growth Driving Environmental Responsibility and Sustainable Growth “We are committed to boosting inclusive economic growth on the continent” • MTN paid a total of GHS7.3 billion in direct and indirect taxes. • MTN Ghana contributed GHS1.2 billion in fees and levies to various government agencies. “We are committed to protecting our planet and achieving net zero emissions by 2040” • 4G pop coverage • Foundation projects ongoing – UDS Multi- purpose Centre • Diversity & inclusion • Enhance reputation and trust with stakeholders • Digital human rights and child online safety • Responsible procurement and supply chain “We are committed to driving digital and financial inclusion and diverse society” “We are committed partners to stakeholders to create and protect value” Net Zero by 2040 50%◊ women representation by 2030 95% by 2025 ~22.6% ~99.3% ~43.7% • Reduce GHG emissions • Improve energy efficiency • Water and waste management E Co-responsibility S ustainable societies G ood governance E conomic value added Q&A Looking ahead• Creating shared value Business Overview 10
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11 Stephen Blewett CEO 04 Looking ahead
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Resilient topline growth | Service revenue +13.6%*, ex-MTN Sudan 12 1 2 Key priorities for the near and medium term Capturing opportunities in connectivity and fintech ancing customer satisfactionEnhancing customer satisfaction • Leverage AI to improve our Customer Value Management (CVM) initiatives Enhancing customer satisfaction • Complete multi-purpose resource centre (UDS) • STEM scholarships • Establishing Robotics and AI centers Completion of MTN Foundation initiatives • Drive usage and scale home • Expand fintech partnerships and grow advanced services Sustaining growth trajectory • Invest capital efficiently through our value-based capital allocation strategy. • Sustain expense efficiency programme Managing operational costs efficiently • Reduce greenhouse gas emissions • Increase diversity and inclusion Advancing ESG goals • Enhance myMTN and MoMo applications Advancing our platform strategy Q&A Looking aheadCreating shared value Business overview
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13 Medium-term guidance maintained KPI Target Service revenue growth EBITDA margins Ex-lease Capex intensity Dividend payout ratio Mid to High thirties (percentage terms) Mid to high fifties Improving core capex intensity Payout ratio of 60% to 80% Maintaining Guidance to Support Long-Term Value Q&A Looking aheadCreating shared value Business overview
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14 Thank You Contact: Jeremiah Opoku Investor Relations InvestorRelations.Gh@mtn.com +233 244 314 023
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15 Q&A