Enhanced Investments - Financial Portal

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

Published: 2022-08-01 08:30:33 ET

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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.