Highlights

MTN delivered a robust H1 2025 performance, with positive momentum in our operational and financial results

Total subscribers
up 4.7% to 297.7m

Active data subscribers
increased by 10.3% to 164.4m

Data traffic
up 29.1% to 19 11.7PB

Mobile Money (MoMo) monthly active users (MAU)
up 1.8% to 63.2m

Fintech transaction volumes
up 14.5% to 11.1bn

Group service revenue increased by 23.2% to R105.1bn on a reported basis;
up 22.4%*
in constant currency (CC)

Data revenue increased 36.5% on a reported basis;
up 34.3%*
in CC

Fintech revenue increased by 37.3% on a reported basis;
24.9%*
in CC

EBITDA (before once-off items) increased by 60.6% on a reported basis;
up 42.3%*
in CC

EBITDA margin increased by 10.7pp on a reported basis to 42.7%; up 7.1pp* to
44.2%*
in CC

Reported headline EPS (HEPS) increased by 352% to
645 cents
(H1 2024: 256 cents loss)

Adjusted HEPS increased by 76.1% to
657 cents
(H1 2024: 373 cents)

Capex (ex-leases) of
R20.8bn, with capex
intensity of 19.0%

Holdco leverage flat at
1.5x

Net-debt-to-EBITDA
improved to 0.5x
(Dec 2024: 0.7x)

No interim dividend declared
(H1 2024: nil)

Upgraded medium-term guidance: Group service revenue growth of ‘at least high-teens’ (previously ‘at least mid-teens’)

* Constant currency (CC) information after accounting for the impact of the pro forma adjustments as defined and included throughout this results announcement. Refer to contents page for more detail on the basis upon which constant currency information is presented.
pp percentage points.