HWAY23 and HWAY24 - Tap Issuance THE SOUTH AFRICAN NATIONAL ROADS AGENCY SOC LIMITED Bond Code: HWAY23 ISIN No: ZAG000075862 Bond Code: HWAY24 ISIN No: ZAG000079153 LISTING OF HWAY23 and HWAY24 The JSE Limited has granted a listing issue to The South African National Roads Agency SOC Limited “HWAY23 and HWAY24 under its Domestic Medium Term Note Programme dated 30 July 2009 as amended or restated on or about 14 April 2014, effective from 28 January 2015, the first settlement date. Authorised Programme size R31, 910,000,000.00 Total Notes in issue R 25,254,536,842.00 (following the additional issues) Additional listing Total amount in issue following additional issue R 150,000,000.00 R 2,433,000,000.00 Bond Code HWAY23 Nominal Issued R 150,000,000.00 Issue Price 278.15593% Coupon 5.50% Trade Type Yield Coupon Rate Indicator Fixed Maturity Date 7 December 2023 Interest Commencement Date 7 December 2014 First Interest Date 7 June 2015 Interest Dates 7 June and 7 December until maturity date Books Close 28 May and 27 November until maturity date Last day to register By 17:00 on 27 May and 26 November First Settlement date 28 January 2015 Base CPI 51.34207042 ISIN No. ZAG000075862 Date Convention Following Additional Information Senior Unsecured Additional listings Total amount in issue following additional issue R 150,000,000.00 R 929,000,000.00 Bond Code HWAY24 Nominal Issued R 150,000,000.00 Coupon 5.5% Trade Type Yield-to-maturity Maturity Date 7 December 2024 Interest Commencement Date 7 December 2014 First Interest Date 7 June 2015 Interest Dates 7 June and 7 December until maturity date Books Close 28 May and 27 November until maturity date Last day to register By 17:00 on 27 May and 26 November Issue Price 284.26179% First Settlement Date 28 January 2015 Base CPI 51.34207042 Date Convention Following ISIN No ZAG000079153 Additional Information Senior Unsecured The notes will be immobilised in the Central Securities Depository and settlement will take place electronically in terms of JSE Rules. 28 January 2015 Debt Sponsor Absa Bank Limited (acting through its Corporate and Investment Banking division) Date: 28/01/2015 09:00:00 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.