NQABA FINANCE 1 (RF) LIMITED - NQA - Results of Noteholder Meeting held on 30 May 2025

NQA - Results of Noteholder Meeting held on 30 May 2025

NQABA FINANCE 1 (RF) LIMITED
Registration Number 2005/040050/07
(JSE Alpha code: NQA)
("Nqaba" or the "Issuer)

Bond Code            ISIN No                           Bond Code           ISIN No
NQ1A10               ZAG000077686                      NQ1B17              ZAG000126467
NQ1A24               ZAG000143991                      NQ1B20              ZAG000151549
NQ1A25               ZAG000144007                      NQ1B21              ZAG000159591
NQ1A27               ZAG000151531                      NQ1C10              ZAG000077694
NQ1A28               ZAG000159583                      NQ1C17              ZAG000126459
NQ1B10               ZAG000077702                      NQF1D5              ZAG000077678

RESULTS OF NOTEHOLDER MEETING HELD ON 30 MAY 2025

Noteholders are advised that at a meeting of Noteholders ("Noteholders' Meeting") held on 30 May 2025,
all of the resolutions as set out in the notice of Noteholders' Meeting, as distributed to Noteholders on 08
May 2025, were passed by the requisite majority of votes of Noteholders present in person or represented
by proxy.

The total value of notes outstanding in the structure is ZAR626,712,888.

A summary of the voting at the 30 May 2025 meeting is as follows:

       Total votes: ZAR544,9m

       Total votes in favour of the resolutions: ZAR543,9m

Details of the results of the voting are as follows:


                          Total shares voted                   Shares        Shares
                                                               abstained     voted

 RESOLUTION               For      Against   Number            %             %

                          %        %
                            
 1.    EXTRAORDINARY      100%     0%        ZAR543,969,954    0.16%       86.96%
       RESOLUTION 1 –
       SUBORDINATED
       LOANS AND/OR
       SUBORDINATED
       NOTES


 2.    EXTRAORDINARY      100%     0%        ZAR543,969,954    0.16%       86.96%
       RESOLUTION 2 –
       AMENDMENTS
       TO THE REDRAW
       FACILITY LIMIT


 3.    EXTRAORDINARY      100%     0%        ZAR543,969,954    0.16%       86.96%
       RESOLUTION 3 -
       REMOVAL    OF
       PORTFOLIO
       COVENANT
       LEVELS


 4.    EXTRAORDINARY      100%     0%        ZAR543,969,954    0.16%       86.96%
       RESOLUTION 4 -
       ISSUER EXPENSE
       CAP




Accordingly, the resolutions were passed with 100% approval of the votes exercised on the resolutions.

The Nqaba board wishes to thank all Noteholders for their participation and enabling the required
amendments.

For further information, please contact:
Eskom Finance Company SOC Ltd
Megawatt Park
Maxwell Drive
Sunninghill
2157
Ettienne Bester
Tel +27 11 800 5405
Email: besteret@eskom.co.za
Johannesburg
02 June 2025


Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

Date: 02-06-2025 12:39:00
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