Calculate the following ratios using MTN: Use the IFRs Impact 16 figures, June 2019 statement and show workings for MTN Operating profit percentage Net profit percentage Return on Asset Return on total equity Total asset turnover Total debt/equity ratio Total debt/total asset Condensed consolidated financial results for the 6 months ended 30 June 2019 MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) (Share code MTN) (ISIN: ZAE000042164) ("MTN" or "the group") Condensed consolidated financial results for the 6 months ended 30 June 2019 Capex guidance 2019 (including the impact of IFRS 16) Estimated (IFRS 16). 2019 (Rm) 10 200 9 500 5 500 3 100 1 550 Estimated Leases (Rm) 1 600 1 300 500 Estimated (IAS 17) 2019 (Rm) 8 600 8 200 5 000 2 900 1 500 Capitalised (IFRS 16) 1H19 (Rm) 5 773 4 050 3 574 Capitalised Leases 1619 (Rm) 407 Capitalised (IAS 17) 1H19 (Rm) 3 366 3 674 256 093 634 Capitalised 1H18 (Rm) 3 907 320 2 219 NNN 200 von Nio 646 South Africa Nigeria SEAGHA WECA MENA Head office, digital and Global Connect Total Hyperinflation Total reported Iran (498) ID NO 2 000 31 850 200 3 850 1 800 28 000 3 238 11 462 194 15 455 27 15 482 861 194 12 217 27 12 244 813 (1) 31 850 3 850 28 000 2 260 3 238 11 461 1 622 Gain on investment in JV/ associate2 Nigeria fine interest4 Other3 Headline earnings 72 505 66 30 128 LI (1 151) (1 151) (25) (25) III Financial review Headline earnings reconciliation Impair- ment of goodwill, dilution of PPE, JV IFRS and 1H19 (Rm) reported associates1 Revenue 72 505 Other income 1 242 EBITDA 31 245 Depreciation, amortisation and impairment of goodwill 15 995 Profit from operations 250 Net finance cost 7 088 Hyperinflationary monetary gain 338 Share of results of associates and joint ventures after tax (29) Profit before tax 8 471 Income tax expense 3 180 Profit after tax 5 291 Non-controlling interests 858 Attributable profit 4 433 EBITDA margin (3) Effective tax rate (3) (1 257) (25) II un to I TO 15 804 4 324 7 088 (18 338 (37) (1 188) Ninin u un OTOT uni in (66) 7 508 3 180 4 328 CD o II CD (1 188) (25) (1 188) (2) (23) 3 497 41,5 43 375 42,4 Headline earnings reconciliation (continued) Hyper Impact of inflation foreign (excluding exchange impair- losses Divest- 1H19 (Rm) ments, and gains6m ents7 Revenue (218) Adjusted Ads 2019 move- Impact of IFRS 168 ment 72 287 17,0 (1) (54) (4 371) 65 25 703 (17,7) 1998 (261) 207 (44) (2 774) (1 597) (2 688) 12 769 12 934 3 298 (338) Other income EBITDA Depreciation, amortisation and impairment of goodwill Profit from operations Net finance cost Hyperinflationary monetary gain Share of results of associates and joint ventures after tax Profit before tax Income tax expense Profit after tax Non-controlling interests Attributable profit EBITDA margin ($) Effective tax rate ($) ) CD 0 1 099 ) Wool M ww O DO 10 on 9 830 3 729 101 NW TOO ( ow ) ) CO W 10 147 (71) 704 (147) 147 ) 711 746 5 355 355 372 Gain on dilution of investment in JV/ associate2 Nigeria fine interest 4 Other3 Headline earnings reconciliation (continued) Impair- ment of goodwill, PPE, JV IFRS and 1H18 (Rm) reported associates1 Revenue 62 777 Other income 406 EBITDA 22 335 (244) Depreciation, amortisation and impairment of gandwin 11 503 (149) Profit from operations 10 832 (95) Net finance cost 3 677 Headline earnings 62 777 79 21 764 (23) (304) (304) 11 354 (304) (23) 10 410 3 677 I (396) 100 100 197 7 452 (134) (438) un 0 Hyperinflationary monetary gain Share of results of associates and joint ventures after tax Profit before tax Income tax expense Profit after tax Non-controlling interests Attributable profit EBITDA margin (3) Effective tax rate ($) 2 541 63 6 896 2 541 4 355 I 4 911 0 (95) (438) 0 530 4 381 35,6 34,1 (42) (53) (438) O COM COCO in co Divest- ments7 (917) Impact of IFRS 168 Adjusted 2018 61 795 79 21 461 (302) Headline earnings reconciliation (continued) Hyper Impact of inflation foreign (excluding exchange impair- losses 1H18 (Rm) mente... and gains6 Revenue (65) Other income EBITDA Depreciation, amortisation and impairment of goodwill (91) Profit from operations 90 Net finance cost Hyperinflationary monetary gain (100) Share of results of associates and joint ventures after tax 540 Profit before tax Income tax expense 160 (131) 11 132 1 (600) (171) (25) 10 329 2 657 (136) (282) (19) 467 8 139 600 NO 2 697 514 440 (263) - 5 442 Profit after tax Non-controlling t53 Attributable profit EBITDA margin ($) Effective tax rate ($) 71 369 (263) 666 4 776 34,7 33.1 IFRS 16 impacts The following tables show the impact of IFRS 16 on the numbers disclosed in our results on the income statement, statement of financial position and statement of cash flow as at 30 June 2019. SA IA 4 371 4 371 (2 774) 704 704 (567) 2 032 2 032 (1 074) 567 (321) Income statement IFRS 16 impacts Group Nigeria Ghana Revenue Operating expenses EBITDA Depreciation Amortisation Impairment of goodwill Operating profit Interest expense Foreign exchange gains or losses Share of results of associates and joint ventures Profit before tax (1 099) (386) Income tax expense Profit after tax Attributable to equity holders of parent Non-controlling interest 137 (525) 958 (1 310) 246 (390) (49) (352) 1 597 (2 640) (48) (8) (193) 305 (794) (711) (83) 101 115 237) (237) I Don T (285) (285) (148) Statement of financial position IFRS 16 impacts 12 767 Nigeria 18 995 Ghana 4 357 " Group 44 580 (162) 45 137 (8) 12 869 19 390 Non-current assets Property, plant and equipment ROU asset Interest in joint ventures Deferred tax Non-current prepayments Current assets 4 357 4357 (395) (2331) (380) (395) (1 632) (57) (2 331) (380) 17 363 (237) (237) 4 300 (148) (148) Prepayments Total assets Total equity Equity Non-controlling interest Non-current liabilities Lease liability - non-current Deferred tax Current liabilities Lease liability - current Accrued expenses Current tax Total equity and liabilities (1 632) (57) 42 249 12 387 (794) (285) (711) (285) (83) 41 500 11 977 41 753 12 078 (253) (101) 1 543 695 3 427 695 (1 835) (47) 42 249 12 387 18 252 18 366 (114) (652) 1 156 (1 808) JOI COCO (30) (49) 17 363 4 300 Statement of cashflow IFRS 16 impacts Group SA Nigeria Ghana 388 925 Net cash generated from operating activities Cash generated from operations Interest paid Net cash used in financing activities Repayment of lease liability Net decrease in cash and cash equivalents 2016 4 321 (2 305) (2 016) (2 016) (537) (388) 781 1 955 (1 174) (781) (781) 256 537 (281) (256) (256) (388) i Calculate the following ratios using MTN: Use the IFRs Impact 16 figures, June 2019 statement and show workings for MTN Operating profit percentage Net profit percentage Return on Asset Return on total equity Total asset turnover Total debt/equity ratio Total debt/total asset Condensed consolidated financial results for the 6 months ended 30 June 2019 MTN Group Limited (Incorporated in the Republic of South Africa) (Registration number 1994/009584/06) (Share code MTN) (ISIN: ZAE000042164) ("MTN" or "the group") Condensed consolidated financial results for the 6 months ended 30 June 2019 Capex guidance 2019 (including the impact of IFRS 16) Estimated (IFRS 16). 2019 (Rm) 10 200 9 500 5 500 3 100 1 550 Estimated Leases (Rm) 1 600 1 300 500 Estimated (IAS 17) 2019 (Rm) 8 600 8 200 5 000 2 900 1 500 Capitalised (IFRS 16) 1H19 (Rm) 5 773 4 050 3 574 Capitalised Leases 1619 (Rm) 407 Capitalised (IAS 17) 1H19 (Rm) 3 366 3 674 256 093 634 Capitalised 1H18 (Rm) 3 907 320 2 219 NNN 200 von Nio 646 South Africa Nigeria SEAGHA WECA MENA Head office, digital and Global Connect Total Hyperinflation Total reported Iran (498) ID NO 2 000 31 850 200 3 850 1 800 28 000 3 238 11 462 194 15 455 27 15 482 861 194 12 217 27 12 244 813 (1) 31 850 3 850 28 000 2 260 3 238 11 461 1 622 Gain on investment in JV/ associate2 Nigeria fine interest4 Other3 Headline earnings 72 505 66 30 128 LI (1 151) (1 151) (25) (25) III Financial review Headline earnings reconciliation Impair- ment of goodwill, dilution of PPE, JV IFRS and 1H19 (Rm) reported associates1 Revenue 72 505 Other income 1 242 EBITDA 31 245 Depreciation, amortisation and impairment of goodwill 15 995 Profit from operations 250 Net finance cost 7 088 Hyperinflationary monetary gain 338 Share of results of associates and joint ventures after tax (29) Profit before tax 8 471 Income tax expense 3 180 Profit after tax 5 291 Non-controlling interests 858 Attributable profit 4 433 EBITDA margin (3) Effective tax rate (3) (1 257) (25) II un to I TO 15 804 4 324 7 088 (18 338 (37) (1 188) Ninin u un OTOT uni in (66) 7 508 3 180 4 328 CD o II CD (1 188) (25) (1 188) (2) (23) 3 497 41,5 43 375 42,4 Headline earnings reconciliation (continued) Hyper Impact of inflation foreign (excluding exchange impair- losses Divest- 1H19 (Rm) ments, and gains6m ents7 Revenue (218) Adjusted Ads 2019 move- Impact of IFRS 168 ment 72 287 17,0 (1) (54) (4 371) 65 25 703 (17,7) 1998 (261) 207 (44) (2 774) (1 597) (2 688) 12 769 12 934 3 298 (338) Other income EBITDA Depreciation, amortisation and impairment of goodwill Profit from operations Net finance cost Hyperinflationary monetary gain Share of results of associates and joint ventures after tax Profit before tax Income tax expense Profit after tax Non-controlling interests Attributable profit EBITDA margin ($) Effective tax rate ($) ) CD 0 1 099 ) Wool M ww O DO 10 on 9 830 3 729 101 NW TOO ( ow ) ) CO W 10 147 (71) 704 (147) 147 ) 711 746 5 355 355 372 Gain on dilution of investment in JV/ associate2 Nigeria fine interest 4 Other3 Headline earnings reconciliation (continued) Impair- ment of goodwill, PPE, JV IFRS and 1H18 (Rm) reported associates1 Revenue 62 777 Other income 406 EBITDA 22 335 (244) Depreciation, amortisation and impairment of gandwin 11 503 (149) Profit from operations 10 832 (95) Net finance cost 3 677 Headline earnings 62 777 79 21 764 (23) (304) (304) 11 354 (304) (23) 10 410 3 677 I (396) 100 100 197 7 452 (134) (438) un 0 Hyperinflationary monetary gain Share of results of associates and joint ventures after tax Profit before tax Income tax expense Profit after tax Non-controlling interests Attributable profit EBITDA margin (3) Effective tax rate ($) 2 541 63 6 896 2 541 4 355 I 4 911 0 (95) (438) 0 530 4 381 35,6 34,1 (42) (53) (438) O COM COCO in co Divest- ments7 (917) Impact of IFRS 168 Adjusted 2018 61 795 79 21 461 (302) Headline earnings reconciliation (continued) Hyper Impact of inflation foreign (excluding exchange impair- losses 1H18 (Rm) mente... and gains6 Revenue (65) Other income EBITDA Depreciation, amortisation and impairment of goodwill (91) Profit from operations 90 Net finance cost Hyperinflationary monetary gain (100) Share of results of associates and joint ventures after tax 540 Profit before tax Income tax expense 160 (131) 11 132 1 (600) (171) (25) 10 329 2 657 (136) (282) (19) 467 8 139 600 NO 2 697 514 440 (263) - 5 442 Profit after tax Non-controlling t53 Attributable profit EBITDA margin ($) Effective tax rate ($) 71 369 (263) 666 4 776 34,7 33.1 IFRS 16 impacts The following tables show the impact of IFRS 16 on the numbers disclosed in our results on the income statement, statement of financial position and statement of cash flow as at 30 June 2019. SA IA 4 371 4 371 (2 774) 704 704 (567) 2 032 2 032 (1 074) 567 (321) Income statement IFRS 16 impacts Group Nigeria Ghana Revenue Operating expenses EBITDA Depreciation Amortisation Impairment of goodwill Operating profit Interest expense Foreign exchange gains or losses Share of results of associates and joint ventures Profit before tax (1 099) (386) Income tax expense Profit after tax Attributable to equity holders of parent Non-controlling interest 137 (525) 958 (1 310) 246 (390) (49) (352) 1 597 (2 640) (48) (8) (193) 305 (794) (711) (83) 101 115 237) (237) I Don T (285) (285) (148) Statement of financial position IFRS 16 impacts 12 767 Nigeria 18 995 Ghana 4 357 " Group 44 580 (162) 45 137 (8) 12 869 19 390 Non-current assets Property, plant and equipment ROU asset Interest in joint ventures Deferred tax Non-current prepayments Current assets 4 357 4357 (395) (2331) (380) (395) (1 632) (57) (2 331) (380) 17 363 (237) (237) 4 300 (148) (148) Prepayments Total assets Total equity Equity Non-controlling interest Non-current liabilities Lease liability - non-current Deferred tax Current liabilities Lease liability - current Accrued expenses Current tax Total equity and liabilities (1 632) (57) 42 249 12 387 (794) (285) (711) (285) (83) 41 500 11 977 41 753 12 078 (253) (101) 1 543 695 3 427 695 (1 835) (47) 42 249 12 387 18 252 18 366 (114) (652) 1 156 (1 808) JOI COCO (30) (49) 17 363 4 300 Statement of cashflow IFRS 16 impacts Group SA Nigeria Ghana 388 925 Net cash generated from operating activities Cash generated from operations Interest paid Net cash used in financing activities Repayment of lease liability Net decrease in cash and cash equivalents 2016 4 321 (2 305) (2 016) (2 016) (537) (388) 781 1 955 (1 174) (781) (781) 256 537 (281) (256) (256) (388)