Notice Of Voluntary Redemption - IDW002/IDW003 Idwala Industrial Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 2004/003462/06) ISIN IDW002: ZAG000097049 ISIN IDW003: ZAG000101106 (“Idwala” or the “Issuer”) NOTICE OF VOLUNTARY REDEMPTION IN ACCORDANCE WITH CONDITIONS 10.5.1, 10.5.2 AND 18 OF THE TERMS AND CONDITIONS OF THE IDWALA INDUSTRIAL HOLDINGS LIMITED ZAR2,500,000,000 DOMESTIC MEDIUM TERM NOT PROGRAMME 1. The Issuer has delivered a voluntary redemption notice (“Voluntary Redemption Notice”) to GMG Trust Company (SA) (Proprietary) Limited (the “Trustee”), on behalf of the Noteholders on 17 July 2014, in accordance with Condition 10.5.1 (Redemption from internally generated cashflow) of the Terms and Conditions (as defined below) as set out in the Amended and Additional Terms and Conditions in Appendix B of the Applicable Pricing Supplement (as defined below) in terms of which the Issuer indicates its intention to voluntary redeem ZAR33,000,000 (Thirty-Three 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 18 June 2012, as completed and/or supplemented by the amended and restated applicable pricing supplement (the Applicable Pricing Supplement) dated 6 November 2012 (as amended and rested from time to time) in respect of ZAR515,000,000 Floating Rate Senior Secured Notes due 30 June 2016 (the Permitted Amortising Notes), such voluntary redemption to take place on 18 August 2014. 2. 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. 3. The Issuer hereby notifies the Noteholders that the Subject Amortising Notes will be redeemed on 18 August 2014 (the Redemption Date) as per the Voluntary Redemption Notice. 4. In addition, 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 ZAR33,000,000 (Thirty Three Million Rand) of the Permitted Senior Secured Capex Notes on the proposed Redemption Date. 17 July 2014 Debt Sponsor (Rand Merchant Bank division of FirstRand Bank Limited) Date: 17/07/2014 04:47:00 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.