TRANSNET SOC LIMITED - Fitch affirms Transnet BB- and withdraws rating

Fitch affirms Transnet BB- and withdraws rating

Transnet SOC Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1990/000900/30)
Issuer Bond Code: BITRA
(“Transnet”, the “Company” or the “Issuer”)

FITCH AFFIRMS TRANSNET BB- AND WITHDRAWS RATING

Transnet Noteholders are informed that on 21 June 2021, Fitch Ratings (Fitch) has affirmed Transnet’s
Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of 'BB-' with a negative outlook.
Transnet's senior unsecured rating has also been affirmed at 'BB-'. The ratings have simultaneously
been withdrawn.

Before the Fitch rating withdrawal decision, Fitch historically performed unsolicited ratings on
Transnet. The rating withdrawal follows Fitch’s decision to discontinue providing ratings services
where no commercial contract exists or is agreed upon.

Transnet has two official international credit rating agencies that will continue to provide ratings
services on Transnet.

Transnet’s strategic approach is expected to set the company on a growth path and improve financial
and operational performance as the company navigates the impact of COVID-19 on its business. The
strong partnerships with the investor community will remain integral as Transnet implements its
plans.

For a detailed analysis of the rating, please refer to the following link:

https://www.transnet.net/InvestorRelations/SENS%20Announcements/Fitch%20Affirms%20Transne
t%20SOC%20Ltd%20at%20BB%20%20-%20Withdraws%20Rating.pdf

Johannesburg
22 June 2021

JSE Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 22-06-2021 08:40:00
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