NDALA INVESTMENTS NO.1 (RF) LIMITED - Amendments to the Programme Memorandum and Applicable Transaction Supplements

Amendments to the Programme Memorandum and Applicable Transaction Supplements

NDALA INVESTMENTS NO.1 (RF) LIMITED
Registration number 2008/029037/06
JSE Alpha code: NDAI
("Ndala")

AMENDMENTS TO          THE    PROGRAMME        MEMORANDUM         AND    APPLICABLE      TRANSACTION
SUPPLEMENTS

Ndala hereby notifies its debt investors that it has issued a supplement to the Ndala Multi-Issuer Secured
Note Programme dated 17 April 2019 (the "Programme Supplement"), and the applicable transaction
supplements for:

•     Series transaction 2 dated 17 June 2021; and
•     Series transaction 3 dated 17 June 2021;

(collectively the "Series Supplements") to amend the Programme Supplement and the Series
Supplements with effect from [date] 2024 as follows:

1.    Programme Supplement

      1.1   replacing the current trustee, TMF Corporate Services (South Africa) Proprietary Limited, with
            the newly appointed trustee being Quadridge Trust Services Proprietary Limited; and

      1.2   replacing the current directors, being Rishendrie Thanthony, Richard Chennells Hayne, Bertus
            Johannes Korb, Willem Hermanus Swanepoel, Olivia Ann Ferreira (alternate director) and
            Hendrik Ackermann (alternate director) with the following new directors as announced on 8
            October 2021 and 27 May 2022:

              •    David Peter Towers;
              •    Hendrik Ackermann;
              •    Gary Thomas Sayers; and
              •    Kurt Wade van Staden.

2.    Series Supplements

      2.1   replacing the current trustee, TMF Corporate Services (South Africa) Proprietary Limited, with
            the newly appointed trustee being Quadridge Trust Services Proprietary Limited; and

      2.2   replacing the current director Sinovuyo Mveko with Evelyn Deiner as a new director.

The Programme Supplement and Series Supplements are available for viewing on the Ndala website at
https://www.nedbank.co.za/content/nedbank/desktop/gt/en/investor-relations/debt-investor/debt-investors-
programme.html.


27 February 2024

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27-02-2024 08:00:00
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