UMGENI WATER - Credit rating announcement

Credit rating announcement

UMGENI WATER
Registration number: 1997/007707/07
JSE Alpha code: BIUMWA

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that on 20 May 2022, S&P Global Inc (“S&P Global”) revised its outlook to
positive from stable and affirmed the ‘zaAAA/zaA-1+’ long term and short term National Scale Ratings
on South Africa.

Following the above, on 27 May 2022, S&P Global affirmed Umgeni Water's National Scale Ratings at
'zaAAA' for the long term and 'zaA-1+' for the short term.

The affirmation reflects S&P’s view of that there is an extremely high likelihood of extraordinary
government support for Umgeni Water, and that it expects Umgeni Water to continue providing the
necessary water services.

The full rating announcement will be made available upon request.

31 May 2022

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

Date: 31-05-2022 12:11:00
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