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MTN Group Limited Results Presentation for the six months ended 30 June 2026 One MTN – Three Platforms
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2 Disclaimer 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 the MTN Group Limited (the “Company”) as at the date of this presentation. Undue reliance should not be placed on such statements and opinions because by nature, they are subjective to known and unknown risks and uncertainties and can be affected by other factors that could cause actual financial results, and the Company 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, delict 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 other circumstances. 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. 2
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01 H1 26 Highlights 3 Agenda 02 Operational & strategic review 03 H1 26 Financial review 04 Outlook & priorities
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One MTN – Three Platforms 01 H1 26 Highlights Ralph Mupita Group President and CEO 4
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 5 Key messages Commercial momentum translating into strong growth and solid profitability 1 Service revenue +17.5%* | EBITDA growth +24.4%* | EBITDA margin 47.6%* 2 Good progress achieved on IHS transaction 5 Share buyback programme commenced | Medium-term guidance reaffirmed 6 Adjusted HEPS +21.3% to 793c | ROCE expanded by 4.1pp from Dec’25 to 31.5% | Strong equity free cash flow growth of 32.7% 4 Fintech: revenue +13.3%* | revenue (excl regulatory items) +19.3%* | transaction value up 33.8%* to $330.5 billion | advanced services up 32.0%* 3 * Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Inflation moderated, the dollar anchors held, while growth across the continent remains robust 6 Highlights | Macro conditions were supportive. Rand strengthening against other opcos Inflation was lower ▼ 5.6pp lower yoy 14.0% 9.3% H1 2025 H1 2026 Group blended inflation moderated to approximately 9.3%, from 14.0% in H1 2025 Naira and Rand were stable vs dollar NGN / US$ STABLE ZAR / US$ STABLE The naira and the rand were broadly stable against the US dollar — no repeat of the prior-period translation shock African currencies were weaker vs rand African opco currencies weaker vs the South African rand Our African currencies weakened in aggregate against a firm rand Underlying demand remains strong Demand for connectivity, financial services and digital infrastructure is structural Real GDP outlook across our markets remains strong despite recent geopolitical related downgrades Sub-Saharan Africa 4.1% → 4.0%, cut 0.3pp since January 2026e 2027f Rwanda ▼ 7.2% Benin ▼ 7.0% Uganda ▲ 6.8% C. d'Ivoire ▼ 5.8% Ghana ▼ 4.8% Zambia ▲ 4.4% Nigeria ▲ 4.1% eSwatini ▼ 3.9% Congo-B ▲ 3.7% Cameroon ▲ 3.4% S. Africa ▼ 1.0% Connectivity • 53% smartphone penetration Financial services • <25% access to credit^^ Digital infrastructure • Africa's data centre capacity to grow 3.5x - 5.5x GDP: World Bank, Global Economic Prospects, June 2026 (2025 estimates, 2026 forecasts); Uganda on a fiscal-year basis. Selected MTN markets shown. Inflation and currency commentary: MTN Group H1 2026 results. ^ GSMA stats for Sub-Saharan Africa;^^World Findex Report, 2025;
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 7 Highlights | Commercial momentum sustained Subscribers (m) Active data subscribers (m) Data traffic (PB) MoMo monthly active users (MAU, m) Fintech TX volume (bn) Fintech TX value (US$bn) 284.2 297.7 317.7 H1 24 H1 25 H1 26 149.0 164.4 179.3 H1 24 H1 25 H1 26 146.4 212.2 330.5 H1 24 H1 25 H1 26 62.1 63.2 70.8 H1 24 H1 25 H1 26 9 041 11 674 14 338 H1 24 H1 25 H1 26 +22.8%+9.1%+6.7% +12.1% +17.2% +33.8%* 9.7 11.1 13.0 H1 24 H1 25 H1 26 Includes JVs | * Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Pleasing broad based growth contribution from the portfolio H1’25 7.5 Nigeria 0.3 South Africa 2.6 Ghana 5.8 SEA+ 2.3 Francophone 2.1 JV’s & Associates H1’26 297.7 317.7 H1’25 4.7 Nigeria 0.6 South Africa 3.1 Ghana 3.5 SEA+ 2.8 Francophone 1.4 JV’s & Associates H1’26 164.4 179.3 H1’25 2.4 Nigeria 0.7 South Africa 0.6 Ghana 3.2 SEA+ 0.8 Francophone 0.1 JV’s & Associates H1’26 63.2 70.8 Subscribers 317.7m +6.7% YoY Active data users 179.3m +9.1% YoY MoMo MAU 70.8m +12.1% YoY 8
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities * Constant currency | ^ Operating free cash flow before spectrum and licences 9 Highlights | Solid financial performance H1 26 Growth Earnings Balance sheet Returns Service revenue +17.5%* R115.3bn EBITDA (before once-offs) +24.4%* R56.0bn Group Leverage 0.3x OpFCF^ +27.5% R25.1bn Data revenue +29.2%* R57.6bn EBITDA margin +3.1pp* 47.6%* ROCE +4.1pp (from Dec’25) 31.5% Fintech revenue +13.3%* R14.9bn Adjusted HEPS +21.3% 793 cents USD:ZAR debt mix 16:84 Liquidity headroom R39.1bn Equity FCF +32.7% R7.0bn
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One MTN – Three Platforms 10 02 Operational & strategic review Ralph Mupita Group President and CEO
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities • SA consumer under pressure but resilient • Average inflation of 3.9% over the period • Highly competitive prepaid market • Focus on portfolio simplification, improving channel performance and CVM focus • Airtime advance reset to improve the quality of the base • Negotiations with Cell C continue • Service revenue +1.5% • Postpaid +4.9% | data +4.0% | wholesale • +13.7%| prepaid -3.3% • EBITDA margin 37.1% ex-share scheme charge 11 South Africa | Postpaid, enterprise and wholesale grew. Prepaid in reset Encouraging lead indicators on prepaid recovery Market context Key activities Solid results Prepaid data revenue growth Prepaid business continues on reset path Prepaid services revenue declined by 3.3% YoY, mainly due to the airtime advance reset and ongoing voice substitution. • Approximately 34% of prepaid recharges initiated by airtime advance, down from 42% in prior year period • In-month airtime advance repayment rates improved from c.50% in October 2025 to 70% currently, materially reducing outstanding balances • Prepaid data revenue — the anchor of the segment — grew 4.4% in the half, accelerating to 5.0% in the second quarter from 3.8% in Q1 • Progress on direct integration with banks on airtime distributionQ3 25 Q4 25 Q1 26 Q2 26 3.8% 5.0% 0.8% 2.6%
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 12 Nigeria | Service revenue +25.7%*; fintech reflects one suspended product 7.5m net adds · data usage 14.8GB, +15.1% · EBITDA margin 55.9%, +5.3pp* · MoMo wallets +1.3m in the half Market context Key activities Solid results • Stable naira | Improved FX liquidity • Average inflation moderating: 15.5% in the period • Higher Q2 global energy prices • Network rollout continues with R7.3bn capex, ex leases • Home connectivity demand creates a significant runway • Airtime advance and data credit suspension; reactivation from July 2026 • Subscribers +8.9% to 92.2m | EBITDA +38.7%*, margin 55.9%* • Robust demand: data traffic +25.8% | Active data users +9.3% • Service revenue growth of +25.7%* MTN Nigeria revenue growth by stream 38.2% 20.9% 11.8% -8.0% Data Digital Voice Fintech Growth, % constant currency MTN Nigeria mobile net adds Service revenue +25.7%* 3.2 0.6 0.7 1.9 2.2 2.7 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Net adds, millions
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 13 Nigeria Q2 2026 | Elevated prior period base, unchanged momentum Demand in Nigeria remains strong. We are seeing growing net additions and average usage increased 15% to 14.8GB ^ Q1 2025 indexed to 100 Data revenue continues to grow ^ Price increase lapped over Q2 The 50% tariff rise of Q1 25 sat in the base for the full quarter, so it no longer lifts YoY growth Suspension of airtime advance the other major drag Airtime advance was suspended in Q2. Operations have resumed and will ramp up through H2 Commercial momentum remains Data revenue has grown 65% since the higher tariffs were implemented Service revenue growth (%) 13% 38% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Reported YoY growth (annual) Two-year CAGR (annual) 100 132 141 152 156 165 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 14 Ghana | Service revenue up 32.3%* | EBITDA margin expanded to 61.8%* Inflation fell to 3.8% from 20.4%; the cedi depreciated 7.4% against the dollar over the half Market context Key activities Solid results • Average inflation rate eased by 16.6pp to 3.8% • Cedi depreciated against dollar | GHS 11.33/US$ vs GHS10.55/US$ in Dec’25 • Improved macro stability despite emerging Q2 currency pressure • Accelerated capex investment: R2.8bn, ex-leases • Home connectivity acceleration • Completed structural separation of the fintech business • Service revenue growth of +32.3%* • Robust demand: data traffic +61.5% | Active data users +17.0% • EBITDA +40.0%* with margin of 61.8%* (+3.4pp*) | PAT +41.4%* MTN Ghana revenue growth by stream 97.5% 47.3% 23.7% -1.6% Digital Data Fintech Voice Growth, % constant currency Data contribution to service revenue 52.8% 58.7% H1 25 H1 26 Service revenue +32.3%*
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 15 Fintech Fintech ecosystem continues to expand, adding merchants and agents; Advanced services grew at 31.8%* Fintech revenue +13.3%* YoY growth Fintech EBITDA margin 42.4%* H1 25: 43.3%* Transaction volume 13.0bn +17.2% YoY Transaction value $330.5bn +33.8%* YoY MoMo MAU 70.8m +12.1% YoY MoMo revenue +17.8%* Basic services +10.7%* Advanced services +31.8%* Advanced share of MoMo revenue (ex-airtime advance) 37.4% (+4.0pp) Active agents 1.4m (+13.1%) Active merchants 2.3m (+18.1%) Basic Services grew despite weaker withdrawals in Ghana and Uganda, transfer pricing pressure in Côte d'Ivoire and Cameroon, South Sudan liquidity constraints and regulatory measures on higher-value transactions. Key fintech verticals $12.7bn +14.5%* Payments & e-commerce Merchant payment value, on more unique payers and higher ticket size. Virtual card live in 7 markets (~954k cards, $26.2m GDV YTD). $2.7bn +78.3%* BankTech Loan value facilitated across Marketplace Lending and MoMo Advance; strongest in Ghana, Uganda, Cameroon and Rwanda. >$3.0bn +11.5%* Remittances Formal cross-border flows; value up on corridor expansion despite grey-route activity and partner liquidity constraints. * Constant currency. Excluding airtime advances: EBITDA margin of 38.8%* (H1 2025: 37.4%* equivalently). SENS.
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 16 Good progress against our medium-term guidance, H1 26 KPI Target Performance Ratio of 1.0x or lowerGroup leverage High-20% to low-30%ROCE Service revenue growth 0.3x 31.5% Group: ‘at least high-teens’ South Africa: ‘low to mid single-digit’ Nigeria: ‘at least low-20%’ Fintech: ‘high-20% to low-30%’ 17.5%* 1.5% 25.7%* 13.3%*
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One MTN – Three Platforms 17 03 Financial review Tsholofelo Molefe Group CFO
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 18 -2 615 23 22 6 65 54 7 793 Impairment Foreign exchange 404 213 Basic EPS Irancell Profit on disp. of PPE Basic HEPS Sudan Ghana South Sudan South Sudan Upstreaming Other Opcos Adjusted HEPS Material non-cash adjustments to H1 EPS Adjusted HEPS growth of 21.3% to 793c Cents Hyperinflation
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 19 Group income statement Strong financial performance delivered in H1 26 | EBITDA margin of 47.6%* (+3.1pp*) (Rm) H1 26 Restated H1 25 % change reported % change constant currency Revenue 118 874 109 261 8.8 16.2 Service revenue 115 322 105 111 9.7 17.5 EBITDA before once-off items 55 987 46 655 20.0 24.4 Once-off items 713 (13) Depreciation, amortisation and goodwill impairment (20 748) (19 960) 3.9 EBIT 35 952 26 682 32.0 Net finance cost (9 838) (7 460) 31.9 Hyperinflationary monetary gain 757 630 Share of results of associates and joint ventures after tax (3 293) 1 686 (295.3) Profit before tax 23 578 21 538 Income tax expense (11 526) (8 973) 28.5 Profit after tax 12 052 12 565 Non-controlling interests (4 642) (2 680) Attributable profit 7 410 9 885 EPS (cents) 404 547 (26.1) HEPS (cents) 615 653 (5.8) Adjusted HEPS (cents) 793 654 21.3 Fx losses Irancell impairment Improved PBT, increase in withholding taxes on dividends Strong earnings from MTN Nigeria and MTN Ghana
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 20 Group service revenue up 17.5%* Data the biggest contributor, voice remains resilient 717 366 695 626 Voice Data Digital 1 749 Fintech Wholesale Hyperinflation 98 104 13 017 115 274 48 H1 26 CC H1 25 CC Other H1 26 Reported 115 322 +17.5%* +2.4%* +29.2%* +20.9%* +13.3%* +15.5%* +14.1%* (Rm) constant currency CC - Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 21 Fintech revenue breakdown Strong expansion of advanced services revenue, +31.8%* | EBITDA margin of 42.4%* (H1 25: 43.3%*) Revenue Revenue contribution by services H1 26 H1 25 7 416 3 725 2 026 H1 25 8 213 4 909 1 793 H1 26 Basic services Advanced services Airtime advance 13 167 14 915 +13.3% +10.7%* +31.8%* -11.5%* 55%33% 12% Basic services Advance services Airtime advance 56%28% 15% Basic services Advance services Airtime advance 43.3% 42.4% EBITDA margin (Rm) constant currency * Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Fintech growth | non-operational impacts 22 Revenue impacted by external factors Fintech revenue growth was impacted by Uganda election shutdown, Ghana float-rate reduction and Nigeria Xtratime suspension, 13.3% Reported fintech growth +4.8pp Nigeria Xtratime suspension +0.6pp Uganda election shutdown +0.6pp Ghana float-rate impact 19.3% Fintech growth excl. impacts Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 23 Group expenses remained under control, growing 13.3% Energy costs are 15-20% of Group opex; 30-35% for MTN Nigeria’s opex Total cost to revenue contribution Expense breakdown 15.2% 16.7% 16.5% 14.2% 23.8% 21.5% H1 25 H1 26 Cost of sales Network costs Other costs^ 55.5% 52.4% 42.8% 18.1% 10.6% 13.1% 15.4% 41.0% 16.1% 9.4% 14.5% 19.0% Cost of sales Network leases & utilities Maintenance Staff costs Other costs^ H1 25 H1 26 change -1.8% -1.2% +1.4% +3.6% -2.0% ^ Other costs include professional fees, marketing & advertising and provisions Constant currency
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities EBITDA grew 6.9pp faster than service revenue — benefits of scale at work 24 17.5% 24.4% Service revenue EBITDA Growth, % constant currency 40.9% 44.5% 47.6% H1 24 H1 25 H1 26 EBITDA margin, % Expense efficiency program generates over R1.2bn of savings • EBITDA before once-offs grew 24.4%* against service revenue at 17.5%* • Margin uplifted 3.1pp* to a record 47.6%* • Delivered with operating expenses up 13.3%*, including elevated share-price-linked incentive scheme costs EBITDA outpaced revenue Margin at a record 47.6%*, +3.1pp* +6.9pp operating leverage * Constant currency.
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 25 Capex (ex-leases) Rolled out 1 637 4G sites and 454 5G sites in H1 | Intensity of 16.6% Capex (Rm) Capex segmentation Capex Capex intensity 14% 37% 14% 11% 21% 1% 2% South Africa Nigeria Ghana SEA Francophone Bayobab Head office 82% 2%1% 14% 1% Connectivity Fintech Digital infrastructure IT Other 14.8% H1 24 19.0% H1 25 16.6% H1 26 13 433 19 749 19 539
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 26 Free cash flow Strong rebound in cash generation | OpFCF up 23.1% to R25.1bn | FCF of R11.1bn, conversion of 92.5% (Rm) 1 Dividend paid to non-controlling interest increased by 193.8% | ^ Equity free cash flow (EFCF)= Free cash flow less non-controlling interest FCF -4 110 Dividends paid to NCI1 Capitalised lease payments Reported EBITDA Non-cash -4 023 Working capital EFCF^Acquisition of PPE & intangible assets OpFCF before spectrum & licences Spectrum & licences OpFCF before interest & tax -5 923 Net interest paid -8 029 56 700 -4 919 -22 776 Tax paid -88 25 097 11 145 7 035 25 185 +23.1% +27.5% +66.4% +32.7%
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities USD Bonds ZAR Bonds ZAR Loans 27 Leverage and liquidity profile Improved Holdco leverage supported by improved cash upstreamed from the Opcos Holdco net debt (Rbn) Maturity profile (Rbn) Other key numbers Cash upstreaming: Liquidity headroom: ZAR/USD – Closing Jun’26 31.9 Group leverage 0.3x 0.5x USD ZAR 0.3x Funding Mix 32.9 36.1 H1 26H1 25 R8.2bn R39.1bn R13.9bn R39.1bn 16% 43% 41% 77% 79% 84% 84% 23% 21% 16% 16% 2023 2024 2025 H1 26 0.3x 35.5 8.2 2.5 6.4 9.9 15.6 2.7 2.6 2 1.5 2026 2027 2028 2029 2030 2031 2032 2033 USD ZAR 16.3917.72
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities 28 High quality growth and returns Equity FCF growth of 32.7% and high FCF conversion | returns are expanding Growth • Service revenue +17.5%* to R115.3bn; EBITDA +24.4%* to R56.0bn Earnings • Adjusted HEPS 793c, +21.3%; 767c excluding Irancell, +23.7% Balance sheet • Net debt / EBITDA 0.3x; liquidity headroom R39.1bn Returns • ROCE 31.5%; operating free cash flow R25.1bn, +27.5% 92.5% 31.5% 47.6% 16.6% FCF conversion ROCE EBITDA margin* Capex intensity FCF conversion = Free cash flow / Profit after tax (reported)
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One MTN – Three Platforms 29 04 Outlook & priorities Ralph Mupita Group President and CEO
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Operating conditions into H2 26 Real GDP growth, % Consumer Inflation, % What we are monitoring Macro outlook | Outlook uncertain driven by global geopolitical developments Every major market grows faster in 2027 than in 2026, while the inflation paths separate 2026F 2027F 4.3 4.5 SSA 1.1 1.3 S. Africa 4.1 4.3 Nigeria 4.8 4.9 Ghana All four accelerate into 2027 2026F 2027F 3.9 3.4 S. Africa 16.1 15.8 Nigeria 5.8 7.8 Ghana Ghana the outlier — rising, not falling • Energy prices direct cost and second-round inflationary pressure • Inflation moderated in key markets; the outlook is less certain driven by global geopolitical developments • Currency conditions more supportive across our larger markets Global oil prices Translating to higher diesel costs: ensuring supply and availability of diesel and power Technology shifts • AI frontier models • LEO satellite partnerships • Chipset pricing • Impact on smartphone affordability Regulatory developments • Spectrum acquisitions • End-user regulations in SA Geopolitical developments • Second order effects across our markets 30GDP and inflation forecasts: IMF, consistent with the basis used elsewhere in this pack. Monitoring items per the H1 2026 results announcement.
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Key focus areas for H2 2026 31 MTN’s investment case and medium-term growth underpinned by structural demand Deliver the MTN SA prepaid recovery 1 Sustain commercial momentum across the entire portfolio 2 Complete the IHS acquisition 5 Maintain capital and cost discipline, providing sufficient liquidity to address forthcoming funding requirements 4 Execute on fintech commercial and strategic priorities and the Nigeria airtime advance rebuild 3
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities Complete the IHS acquisition 32 Regulatory approvals received from several regulators. FCCPC approval is conditional on MTN Group selling down up to 30% of the Nigerian component of IHS over time. We are comfortable with the conditions as set out 3 Proforma transaction is accretive to revenue and earnings 1 On successful completion of the Transaction, net debt- to-EBITDA (ex-leases) rises to 0.8x (from 0.3x) 2 Subject to approvals, we anticipate that the Transaction should close in 2H26 4 Latam assets sale EGM approval Regulatory approvals IHS balance sheet conditions Completed On track Completed On track Notes: Transaction reflects the proposed acquisition of MTN Group of IHS Towers as announced on 17 February 2026. All pro forma information is based on values as at FY2025. Please refer to MTN Group SENS announcement on 12 May 2026
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities KPI Medium-term guidance maintained 33 Return on capital employed Group net debt / EBITDA Service revenue growth (%) Target ROCE (%): ‘high-twenties to low-thirties’ Net debt/EBITDA ≤1.0x Group: ‘at least high-teens’ SA: ‘low to mid-single-digit’ Nigeria: ‘at least low-20%’ Fintech: ‘high-20% to low-30%’ Shareholder remuneration framework 40–60% of EFCF including up to R6bn buyback
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H1 26 Highlights Operational & strategic review Financial review Outlook & priorities MTN’s investment case 34 Leading digital solutions for Africa’s progress Structural growth opportunities, powered by Africa’s demographic dividend Structural demand for data and financial services in our markets Underpinned by young, fast-growing populations driving exponential digital and fintech adoption 1 Uniquely positioned to capture value as Africa’s largest, scale digital services provider Leading customer base, infrastructure and coverage in the markets we serve Speed and agility in strategy execution through three focused platforms 2 Well-developed financial framework underpins strategy delivery, financial performance and returns Disciplined capital allocation for strong growth and cash generation, resilient balance sheet and attractive ROCE Compelling shareholder remuneration policy incorporating dividends and share buybacks 3 MTN creates shared value by aligning its core business objectives with societal progress We expand economic opportunity by closing the digital and financial divide in Africa Commitment to maintain ESG leadership in Africa 4 Connectivity Digital Infrastructure Fintech
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Thank you