MTN : 2021 Sustainability Report

MTN Group Limited

Sustainability Report for the year ended 31 December 2021

Contents

DOING FOR TOMORROW, TODAY

• 01 About this report

• 02 Who we are

• 03 Our year at a glance

• 05 Message from our Group President and CEO

• 06 Our sustainability strategy framework

• 07 Our sustainability governance

• 08 What is measured gets done

• 09 Our ESG performance

• 11 Material matters impacting value creation

• 12 Doing more in the fight against COVID-19

• 13 Engaging our stakeholders

DOING FOR OUR PLANET

• 17 We focus on energy consumption and climate change

• 23 We manage our environmental impact

• 27 We manage EMF-related risks

DOING FOR SOCIETY

• 29 We provide inclusive connectivity

• 35 We accelerate financial inclusion

• 39 We empower our employees to Live Inspired

DOING IT RIGHT

• 48 We embrace ethics, risks and compliance management

• 54 We respect human rights

• 60 We partner for a sustainable supply chain

DOING FOR GROWTH

• 66 We contribute through tax

• 67 We invest in infrastructure

• 68 We unlock digital innovation

70

We invest in communities

ESG INDICATORS PERFORMANCE

Navigating this report

is to enable the benefits of a modern connected life for everyone

Throughout our sustainability report, the following icons are used to show the connectivity between our strategic priorities, our capitals and value creation for our stakeholders.

Our materialstakeholders: Our capitals: Material matters:

Other icons:

LA Limited assurance obtained

Internal assurance obtained

COVID-19

www.mtn.com

Our reporting suite

Annual Financial Statements

2025 strategic priorities:

In the year we took a step change in our approach to ESG, placing it at the core of our strategy. This aligns with our work to advance the United Nations Sustainable Development Goals through our business activities and our support of governments, communities and customers. The SDGs target a sustainable society with a plan to end poverty, protect the planet and ensure equality for all by 2030. We are committed to bridging the digital divide, furthering financial inclusion to advance the attainment of the goals. For details of how we determine the SDGs on which we have the greatest impact, see page 79.

MTN focus

Indirect impact

Tax Report

King IVTM Report

5Y

Five-Year Review

Detailed statements, analysis of the Group's financial results and the full Audit Committee report.

MTN's approach to tax and dealing with uncertain tax positions; views on specific tax risks; and our total tax contribution.

MTN's application of the King IVTM principles.

Comprehensive view over five years of the income statement; statements of financial position and cash flows; performance per share; as well as key non-financial information.

IR

Integrated Report

Our primary communication to stakeholders, aiming to enable them to make an informed assessment of our performance and prospects and the value we create through our activities.

Transparency Report

Insight on how the policies and actions of governments and corporations affect privacy, security and access to information.

GRI Report

Structured disclosure on the impacts of the Group's activities.

DRIVING SUSTAINABLE ECONOMIES

CDP Report

Global environmental disclosure, reporting on risks and opportunities in climate change, water security and deforestation

About this report

We provide our stakeholders with the information needed to assess our sustainability progress through a suite of complementary reports. This report offers a balanced, accurate and accessible overview of our performance in relation to our sustainability performance for the period from 1 January 2021 to 31 December 2021.

Scope and boundaries

This report covers operations in Afghanistan, Benin, Cameroon, Congo-Brazzaville, Guinea-Bissau, Guinea-Conakry, Ghana, Côte d'Ivoire, Liberia, Nigeria, Rwanda, South Africa, Sudan, South Sudan, eSwatini, Uganda, Zambia, and MTN Enterprise operations in Kenya and Namibia.

MTN Yemen and MTN Syria were excluded from 2021 reporting where data collection was challenging as a result of MTN exiting these markets as part of our phased exit of the Middle East. Mascom Botswana is excluded from sustainability reporting based on MTN not having operational control, with the exception of carbon management information, which is included, based on our indirect minority ownership holding. Iran is included in

The IIRC's Framework

Companies Act, No 71 of 2008 (as amended)

JSE Listings Requirements

FTSE/JSE Responsible Investment IndexKing IVTM*Principles

International Financial Reporting Standards (IFRS)

Global Reporting Initiative Sustainability Reporting Standards (GRI Standards)

UN Sustainable Development Goals

Carbon Disclosure Project

* Copyright and trademarks are owned by the Institute of Directors in

South Africa NPC and all rights are reserved.

sustainability reporting, with the exception of carbon management information which is excluded based on our indirect ownership holding. Some MTN Group head office services are undertaken in the United Arab Emirates (Dubai) in leased offices and has been incorporated into environmental reporting.

Sustainability reporting standards and guidelines

Disclosures within this report are guided by our signatory membership of the United Nations Global Compact (UNGC), the Global Reporting Initiative (GRI) Standards, the Carbon Disclosure Project (CDP), UN Guiding Principles on Business and Human Rights, the FTSE/JSE Responsible Investment Index Series, and the King Code of Governance Principles (King IVTM) .

Data collection

Information sourced from various information management systems - and management and Board committee reports - has been used to compile this report. Additional data was included based on feedback from investor and stakeholder engagements, surveys, research, and benchmarking. To allow for trend analysis over time, quantitative data for multiple years is provided where relevant.

Exchange rate

All financial data is reported in South African rand (R), using the average exchange rate from January to December 2021 of R14.82 to US$1 (2020: R16.46 to US$1).

Combined assurance

Select indicators in this report have undergone internal or external assurance. These have been indicated within the report using the indicated icons. Refer to the Group's independent assurance report for additional information.

Feedback

We welcome feedback on this report and are committed to listening to our stakeholders about our performance and sustainability efforts. Please address all feedback to Group Sustainability:[e-mail]

Who we are

is to enable the benefits of a modern connected life for everyone

MTN is a pan-African mobile operator with the strategic intent of 'Leading digital solutions for Africa's progress'. Inspired by our belief that everyone deserves the benefits of a modern connected life, we provide a diverse range of voice, data, fintech, digital, enterprise, wholesale, and API services to more than 272 million customers in 19 markets.

We were established in South Africa at the dawn of democracy in 1994 as a leader in transformation. Since then, we have grown by investing in sophisticated communication infrastructure, developing new technologies and by harnessing the talent of our diverse people to now offer services to communities across Africa and the Middle East.

MTN Group Limited is a publicly owned entity whose shares are traded on the JSE. At the end of 2021 our market capitalisation was R321.7 billion (US$20 billion).

How we define value:

For us, value is progress in achieving our strategic intent and delivering on our purpose to enable the benefits of a modern connected life for everyone in our footprint.

272m subscribers	122m active data users
57m active MoMo users	11m active ayoba users
R172bn in service revenue	16 390 skilled MTNers^
Africa's largest fixed and mobile network: invested capex of R32.7bn
Economic value of ~R115bn added across our markets	Reduction of ~16% in GHG emissions (targeting 47% reduction by 2030 and Net Zero by 2040)
Rural broadband coverage ~83% (targeting 95% by 2025)	Women are 39% of our workforce (targeting 50% by 2030)

Our year at a glance

Doing for our planet

Reduction of ~16% in GHG emissions (targeting 47% reduction by 2030 and Net Zero by 2040)Suppliers who have pledged to join MTN's road to Net Zero: 208

Installed 10 485 alternative energy sites in 2021, of which 3 005 are solar (2020: 8 396 alternative energy sites of which 2 435 were solar)

General waste reduced/ recycled: 35 409kg

(2020: 3 314kg)