CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY - Amendment to the City of Cape Town Metropolitan Municipality Domestic Medium Term Note Programme

Amendment to the City of Cape Town Metropolitan Municipality Domestic Medium Term Note Programme

THE CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY
(A Municipality in terms of Section 155 of the Constitution of the Republic of South Africa, duly
established by notice in the Provincial Notice 479/2000 dated 22nd September 2000, of the Western
Cape, pursuant to Section 12(1) and Section 14(2) of the Local Government: Municipal Structures Act,
1998 (Act 117 of 1998) as amended)
JSE alpha code: BICITY

AMENDMENT TO THE CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY DOMESTIC
MEDIUM TERM NOTE PROGRAMME

Noteholders are advised that City of Cape Town Metropolitan Municipality ("City of Cape Town") has
amended and restated its ZAR7,000,000,000 Domestic Medium Term Note Programme (the
"Programme Memorandum") dated 11 July 2017 to incorporate various regulatory amendments as
well as other changes in order to align the Programme Memorandum with the most recent Debt Listings
Requirements of the JSE Limited ("JSE").

The amendments to the Programme Memorandum have been summarised as follows:

1.   Update to the "documents incorporated by reference" section.

2.   Introduction of a separate "Information Statement" incorporating the following information:
     •      details of City of Cape Town and its business;
     •      principal risk factors associated with an investment in the notes issued by City of Cape Town
            and risk factors specific to City of Cape Town;
     •      financial information relating to City of Cape Town;
     •      description of the corporate governance structures;
     •      summary of compliance with the King Code on Corporate Governance for South Africa, as
            amended from time to time; and
     •      description of the policies and registers referred to in the relevant provisions of section 7 of
            the Debt Listings Requirements.

3.   Various amendments to the "general description of the Programme".

4.   Updates to the definitions contained in the Programme Memorandum and inclusion of additional
     definitions.

5.   Various updates to the "pro forma applicable pricing supplement" as contained in the Programme
     Memorandum.

6.   The terms and conditions of the notes, including the use of proceeds, have been comprehensively
     updated to align to the Debt Listings Requirements.

The amendments to the Programme Memorandum and the Information Statement have been approved
by the JSE and the updated Programme Memorandum and Information Statement are available on City
of Cape Town's website at capetown.gov.za/Work and business/Invest-in-cape-town/The-citys-
investor-relations/External-finance.

14 December 2023

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

Date: 14-12-2023 10:05:00
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