SOUTH AFRICAN SECURITISATION PROGRAMME (RF) LIMITED - Notice: Redemption of notes in terms of Series condition 4.2

Notice: Redemption of notes in terms of Series condition 4.2

South African Securitisation Programme (RF) Limited
(Registration No: 1991/002706/06)
Formerly called South African Securitisation Programme (Proprietary) Limited
(with registration number 1991/002706/07)
("South African Securitisation Programme")
Incorporated with limited liability in the Republic of South Africa

SOUTH AFRICAN SECURITISATION PROGRAMME (RF) LIMITED ZAR5 000 000 000 MULTI-
SELLER SEGREGATED ASSET BACKED NOTE PROGRAMME SERIES 2: REDEMPTION OF NOTES
IN TERMS OF SERIES CONDITION 4.2

We refer to:

1.   the programme memorandum issued by the Issuer on or about 2 August 2015, as
     amended or supplemented from time to time, in respect of the Issuer's
     ZAR5 000 000     000   Multi-Seller     Segregated    Asset   Backed    Note     Programme
     ("Programme");

2.   the series supplement issued by the Issuer on or about 16 November 2016, as
     amended or supplemented from time to time ("Series 2 Supplement"), in respect
     of Series 2 (Lease and Rental Finance Series) under the Programme ("Series
     2"); and

3.   the announcements released by or on behalf of Sasfin Holdings Limited ("Sasfin
     Holdings") on SENS on 13 October 2023, 13 December 2023, 23 February 2024 and
     25 March 2024 and the circular to the shareholders of Sasfin Holdings dated
     25 March 2024 ("Circular") (each available on Sasfin Holdings' website at
     https://sasfin.com/investor-relations/), regarding the proposed disposal by
     Sasfin    Bank   Limited   of   its   capital   equipment   finance   business    and   its
     commercial property finance business, as a going concern, to African Bank
     Limited.

Unless the context indicates otherwise, capitalised terms used but not defined
herein shall bear the meaning ascribed to them in the Series 2 Supplement.

We hereby give written notice that, subject to the CEF Sale of Business Agreement
(as defined in the Circular) becoming unconditional in accordance with its terms,
the Issuer intends to redeem all of the Notes under Series 2 (referred to below)
at their Outstanding Principal Amount (together with any accrued interest thereon)
in accordance with Series Condition 4.2, on a date to be notified in writing by the
Issuer to the Noteholders (which date shall be no later than [2 (two) months]
following the [CEF Payment Date] (as that term is defined in the Circular)).

We confirm that the Issuer has provided the Security SPV with the requisite
certificate in accordance with Condition 4.2, in terms of which the Issuer certified
that it will have Series 2 Available Funds, in terms of the Series 2 Priority of
Payments, to redeem all of the Notes on the basis set out above.

Please see the redemption details below:

Instrument Code                       ISIN
LRFA4                                 ZAG000191818
LRFB4                                 ZAG000191826
LRFC4                                 ZAG000191834


For further information please contact:
Mr. Dhesegan Govender (Sasfin Bank Limited) (011) 809 7892


09 April 2024
Sasfin Bank Limited
Debt Sponsor

Date: 09-04-2024 03:05:00
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