MTN Group is aware of recent media reports regarding its minority investment in Iran. Some of these reports contain false and misleading information.

Since 2006, MTN Group has held a 49% investment in Irancell, which is not under MTN’s operational control. MTN does not benefit from this interest. The Group has not extracted any capital or dividends, nor deployed any capital into, the Iran business since May 2018, when US sanctions were re-imposed against Iran. This was after the US exited the Joint Comprehensive Plan of Action deal.

MTN ensures strict adherence to global sanctions regulations and maintains legal and ethical compliance across markets.

Among media reporting afresh on our interest in Iran is Polity.

In 2020, MTN Group resolved to simplify its portfolio and focus on its pan-African strategy, announcing its intention to exit the Middle East in an orderly manner. MTN Group’s strategy is to lead digital solutions for Africa’s progress. As at 31 March 2025, we served 297 million customers across 16 markets.

We are committed to respecting and protecting human rights within the markets we serve and our broader sphere of influence. Our digital products and services play a critical role in advancing and protecting human rights. We strive to provide these in a manner that does not impede or infringe on the rights of people.

In the US, MTN is a defendant in litigation related to the Anti-Terrorism Act. MTN has deep sympathy for those who have been injured or lost loved ones as a result of the conflicts in Iraq and Afghanistan. MTN Group respectfully defends these cases as the Company was not involved in those tragic events. We regularly provide updates on these cases (including in our 2024 Annual Financial Statements) in which the Group has not been found guilty by any court of any wrongdoing.

MTN Group is chaired by Mcebisi Jonas. South African President Cyril Ramaphosa served as Chairman of MTN Group more than 12 years ago. He resigned in May 2013. Any suggestion that MTN has input into the foreign policy of South Africa is false and misleading. MTN Group’s business decisions are separate from the South African Government’s foreign policy.