NQABA FINANCE 1 (RF) LIMITED - Notification of update to the Nqaba Finance 1 (RF) Limited R5bn Asset Backed Note Programme - NQA

Notification of update to the Nqaba Finance 1 (RF) Limited R5bn Asset Backed Note Programme  - NQA

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

NOTIFICATION OF UPDATE IN RELATION TO NQABA FINANCE 1 (RF) LIMITED’S ZAR5,000,000,000
ASSET BACKED NOTE PROGRAMME

In terms of the JSE Limited (“JSE”) Debt Listings Requirements, noteholders are advised that the Issuer’s
ZAR5,000,000,000 Asset Backed Note Programme, originally dated 13 April 2006 has been updated by an
amended and restated Programme Memorandum, which was initially registered with the JSE on
19 December 2019 with further updates on, inter alia, 14 July 2020 and 31 March 2023 (the “Programme
Memorandum”).

The most recent update of the Programme Memorandum included, inter alia, amendments to the definition of
“Required Direct Employees Percentage” in the Glossary of Definitions and amendments to comply with the
current JSE Debt Listings Requirements.

The amendments which came into effect on 31 March 2023 were approved by noteholders at a noteholder
meeting held on 29 November 2022. The results of the noteholder meeting were released on SENS on
1 December 2022.

The Programme Memorandum, containing all of the changes as approved by noteholders, is available for
inspection on the Issuer’s website at the following link:

https://www.eskom.co.za/wp-
content/uploads/2023/04/Amended_and_Restated_Programme_Memorandum_6_April_2023.pdf

25 April 2023

Debt Sponsor
Absa Bank Limited, acting through its Corporate and Investment Banking division

Date: 25-04-2023 04:00:00
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