NQABA - Results of Noteholders Meeting NQABA FINANCE 1 PROPRIETARY LIMITED (“NQABA”) Bond Issuer Code: NQABA (“Nqaba” or “the Company”) RESULTS OF NOTEHOLDERS MEETING TO WAIVE AN EARLY AMORTIZATION EVENT AS A RESULT OF THE ESKOM HOLDINGS SOC LIMITED (“ESKOM”) DOWNGRADE, TO REINSTATE THE REVOLVING PERIOD AND AMEND PARAGRAPH 1.80.8 OF THE DEFINITION OF "EARLY AMORTISATION EVENT" IN THE SECTION OF THE PROGRAMME MEMORANDUM ENTITLED "GLOSSARY OF DEFINITIONS", IN NQABA’S R5,000,000,000 ASSET BACKED PROGRAMME (THE "NOTEHOLDERS MEETING") Noteholders are advised that, at the Noteholders Meeting held on 19 February 2013 at the offices of Maitland Trust Limited, special resolutions 1, 2 and 3 were approved by the requisite majority of Noteholders. Special resolution 4 was not considered as Special Resolution 3 was duly passed. As a result, the Noteholders have approved the waiver of the Early Amortisation Event resulting from the Eskom’s downgrade as though it had not occurred, the reinstatement of the Revolving Period and the amendment of paragraph 1.80.8 of the definition of "Early Amortisation Event" in the section of the Programme Memorandum entitled "Glossary of Definitions" by replacing the reference to "AAA(zaf)" with "AA1(zaf)". Accordingly payments on the Payment Date falling on 22 February 2013 and thereafter (for so long as the Revolving Period continues and prior to the delivery of an Enforcement Notice) will be made to Noteholders in accordance with the Pre- Enforcement Priority of Payments applicable during the Revolving Period. The parties will give effect to the special resolutions by way of an Amendment Agreement dated on or about 20 February 2013, to be lodged with the JSE Limited. 20 February 2013 Debt Sponsor Absa Bank Limited (acting through its Corporate and Investment Banking division) Date: 20/02/2013 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.