FIRSTRAND BANK LIMITED - FRII - Notification of a Write-Down of Notes due to a Credit Event Called by FRB

FRII -  Notification of a Write-Down of Notes due to a Credit Event Called by FRB

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
LEI: ZAYQDKTCATIXF9OQY690
Bond code: FRC346             ISIN: ZAG000171430
Bond code: FRC381             ISIN: ZAG000181272
Bond code: FRC402             ISIN: ZAG000185877
Bond code: FRC416             ISIN: ZAG000187337
Bond code: FRC481             ISIN: ZAG000198623
Bond code: FRC489             ISIN: ZAG000199969
(FRB)

NOTIFICATION OF A WRITE-DOWN OF NOTES DUE TO A CREDIT EVENT CALLED BY FRB

Noteholders are referred to the SENS announcement released on 10 June 2025 whereby FRB notified noteholders of a credit
event on the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 notes, which referenced Altice France as a
constituent of the underlying reference index, the Markit iTraxx® Europe Crossover Index as set out in paragraph 93(e) of the
applicable pricing supplement for each affected note.

FRB hereby gives notice to the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 noteholders, in accordance with
the terms and conditions of the R90 000 000 000 note programme dated 29 November 2011, as amended or supplemented
from time to time, of the write-down applicable in accordance with paragraph 51(D) of FRC346, FRC381, FRC402, FRC416,
FRC481 and FRC489 pricing supplements, with the effective/pay date being Friday, 5 September 2025.

Bond code:                                            FRC346
ISIN:                                                 ZAG000171430
Amount before write-down:                             R47 999 500.00
Write-down amount:                                    R667 000.00
Amount after write-down:                              R47 332 500.00

Bond code:                                            FRC381
ISIN:                                                 ZAG000181272
Amount before write-down:                             R145 999 500.00
Write-down amount:                                    R2 001 000.00
Amount after write-down:                              R143 998 500.00

Bond code:                                            FRC402
ISIN:                                                 ZAG000185877
Amount before write-down:                             R145 999 500.00
Write-down amount:                                    R2 001 000.00
Amount after write-down:                              R143 998 500.00

Bond code:                                            FRC416
ISIN:                                                 ZAG000187337
Amount before write-down:                             R145 999 500.00
Write-down amount:                                    R2 001 000.00
Amount after write-down:                              R143 998 500.00

Bond code:                                            FRC481
ISIN:                                                 ZAG000198623
Amount before write-down:                             R97 333 000.00
Write-down amount:                                    R1 334 000.00
Amount after write-down:                              R95 999 000.00

Bond code:                                            FRC489
ISIN:                                                 ZAG000199969
Amount before write-down:                             R48 666 500.00
Write-down amount:                                    R667 000.00
Amount after write-down:                              R47 999 500.00

The portion of the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 notes impacted by the credit event will be
cash settled through Strate Proprietary Limited (STRATE), with the amount of cash due being:

Bond code:                                              FRC346
Cash amount:                                            R580 893.23

Bond code:                                              FRC381
Cash amount:                                            R1 769 387.32

Bond code:                                              FRC402
Cash amount:                                            R1 720 626.74

Bond code:                                              FRC416
Cash amount:                                            R1 716 592.10

Bond code:                                              FRC481
Cash amount:                                            R1 150 603.09

Bond code:                                              FRC489
Cash amount:                                            R577 632.83

The record date in respect of the credit event will be Thursday, 4 September 2025.

The pricing supplements will be amended as follows:
    1. to remove the above-mentioned entity and update the weightings in Annexure 2 in each pricing supplement;
    2. the aggregate nominal amount in paragraph 7(a) in each of the pricing supplements will be amended to the above-
       mentioned amounts after the write-down; and
    3. the number of notes in paragraph 9 of the pricing supplements will be amended to cater for the above-mentioned
       write-downs.

The amended pricing supplements will be available at:
https://www.firstrand.co.za/investors/debt-investor-centre/jse-listed-instruments/.


1 September 2025

Debt sponsor
FirstRand Bank Limited

Date: 01-09-2025 01:45:00
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