Notice of voluntary redmption - IDW002 Idwala Industrial Holdings (Proprietary) Limited (Incorporated in the Republic of South Africa) (Registration No. 2004/003462/07) ISIN: ZAG000097049 (“Idwala” or “the Issuer”) NOTICE OF VOLUNTARY REDEMPTION IN ACCORDANCE WITH CONDITION 10.5 OF THE PERMITTED AMORTISING NOTES The Issuer has delivered a voluntary redemption notice (Voluntary Redemption Notice) to Noteholders in accordance with Condition 10.5 (Redemption from internally generated cashflow) of the Terms and Conditions (as defined below) on 29 November 2013 in terms of which the Issuer indicates its intention to voluntary redeem ZAR25,000,000 (Twenty Five Million Rand) Floating Rate Senior Secured Notes (Stock Code IDW002) due 30 June 2016 (the Subject Amortising Notes) issued by the Issuer on the terms and conditions (the Terms and Conditions) of the Programme Memorandum prepared by the Issuer dated 22 June 2012, as completed and/or supplemented by the Applicable Pricing Supplement dated 5 July 2012 in respect of ZAR515,000,000 Floating Rate Senior Secured Notes due 30 June 2016 (the Permitted Amortising Notes) on 9 July 2013. Condition 10.5.1 provides that the Issuer shall be entitled to redeem Permitted Amortising Notes at any time during the Term on giving not less than 30 (thirty) nor more than 60 (sixty) days’ notice to the Noteholders prior to such redemption. The Issuer hereby notifies the Noteholders that the Subject Amortising Notes will be redeemed on 31 December 2013 (“Redemption Date”) as per the Voluntary Redemption Notice. The Issuer hereby exercises its option, pursuant to Condition 10.5.2, to require each of the holders of the Permitted Amortising Notes to, simultaneously with the pro-rata redemption of the Subject Amortising Notes, subscribe for a pro rata portion of ZAR25,000,000 (Twenty Five Million Rand) of the Permitted Senior Secured Capex Notes on the proposed Redemption Date. This Notice is being delivered to Strate Limited and the JSE Limited in accordance with Condition 18 (Notices) of the Terms and Conditions. 29 November 2013 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 29/11/2013 02:44:00 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.