MTN Condensed Consilidated reviewed interim results MTN Group Limited Condensed Consilidated reviewed interim results Registration number: 1994/009584/06 ISIN code: ZAE 000042164 Share code: MTN Highlights Group subscribers up 6.9% to 175,997 million Revenue up 17,5% to R66, 426 million EBITDA margin up 0.3 percentage points to 44.9%** Adjusted HEPS up 14.3% to 537.4 cents Dividend per share 321 cents, 72% payout ratio Share buyback of R2, 088 million completed Overview MTN Group delivered a satisfactory set of results to June 2012, increasing its subscriber numbers by 6.9% to 175,997 million from 31 December 2011. Market conditions continued to be impacted by increasing levels of competition, regulatory requirements, political unrest in certain countries and the global economic slowdown. Despite these challenges, revenue showed solid growth of 17.5% (12.5%*) year on year, driven mainly by strong operational performance and competitive value propositions in South Africa, Iran and Ghana. The weaker rand exchange rate versus the USD and the relatively muted decline in the value of the naira to the USD, had a positive impact on rand reported results. Growth in Nigeria was lower than anticipated as a result of intense competition. The Group EBITDA margin expanded marginally to 44.9%** mainly due to greater efficiencies and tighter cost controls across most operations.