BARLOWORLD LIMITED - BIBAW-Step-Down Margin Notification

BIBAW-Step-Down Margin Notification

Barloworld Limited
Registration number: 1918/000095/06
Alpha code: BIBAW

STEP-DOWN MARGIN NOTIFICATION: BAW38, BAWGL1 AND BAWGL2

Capitalised terms and expressions are as defined in the applicable pricing supplements for BAW38,
BAWGL1 and BAWGL2 ("APSs") and have the same meanings unless otherwise defined in this
announcement.

Noteholders are referred to Appendix 1 of the APSs and are advised that a Margin Adjustment Event
has occurred for instruments BAW38, BAWGL1 and BAWGL2 following achievement of the relevant
KPI Conditions/Gender Performance Targets as set out in the Margin Adjustment Table/ Gender
Performance Table of the relevant APSs.

As a result of the above, the Initial Margin will be decreased by the Step-Down Margin resulting in a
revised margin ("Revised Margin") for BAW38, BAWGL1 and BAWGL2 as follows:


 Instrument              Initial Margin        Step-Down         Revised Marg-              Margin
                                    (%)      Margin (2025)                2025          Adjustment
                                                        (%)                 (%)                Date
 BAW38                             1.65              (0.05)                1.60     13 January 2025
 BAWGL1                            1.42              (0.06)                1.36    24 February 2025
 BAWGL2                            1.60              (0.06)                1.54    24 February 2025

The Revised Margins will be applied for the forthcoming interest periods of 12 January to 12 April 2025
for BAW38, and 22 February to 22 May 2025 for BAWGL1 and BAWGL2.

The Sustainability Certificates for BAW38, BAWGL1 and BAWGL2 are available on Barloworld's
website at www.barloworld.com/investors/debt-investors/

13 January 2025

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

Date: 13-01-2025 10:29:00
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