Tap Issue Announcement RAND WATER BOARD (Rand Water is established in terms of the Water Services Act, 1997 (the “Act”). The Government of the Republic of South Africa, through the Department of Water and Sanitation and duly represented by the Minister of Water and Sanitation, is the sole shareholder of Rand Water. In terms of the Act, Rand Water's primary activity is the provision of bulk water supply services (potable bulk water and sanitation services) within the predetermined service area.) Instrument code: RW23 ISIN: Z AG000111246 (“Rand Water”) Dated: 29 June 2015 Tap Issue Announcement The JSE Limited has granted approval to Rand Water for a tap issue in respect of 9.51% Senior Unsecured Fixed Rate Notes under its Domestic Medium Term Note Programme dated 9 December 2010, as amended and/or supplemented from time to time. Full Note details are as follows: Authorised Programme size R5,000,000,000.00 Stock Code: RW23 Aggregate Nominal Amount: Series: ZAR916,000,000.00 Aggregate Nominal Amount: Tranche: ZAR380,000,000.00 Coupon Indicator: Fixed Rate Fixed Interest Rate: 9.51% Issue Price: 99.7126% of the aggregate Nominal Amount of the Additional RW23 Notes plus a premium equal to the Accrued Interest Maturity Date: 10 December 2023 First Interest Payment Date: 10 June 2015 Interest Payment Dates: 10 June and 10 December in each year up to and including the Maturity Date Books Close: The Register will be closed from 31 May to 9 June and from 30 November to 9 December in each year until the Maturity Date Last day to register: by 17h00 on 30 May and 29 November of each year Interest Commencement Date: 10 June 2015 Issue Date/Settlement: 30 Jun 2015 Notes will be deposited in the Central Depository (“CSD”) and settlement will take place electronically in terms of JSE Rules. Johannesburg 29 June 2015 Debt Sponsor The Standard Bank of South Africa Limited For further information on the Notes issued please contact: Zoya Sisulu SBSA (011) 721 6032 Lucky Ncobela Rand Water (011) 682 0318 Rand Water information: 522 Impala Road, Glenvista, 2058, Johannesburg, Gauteng, South Africa PO Box 1127, Johannesburg, 2000 Tel: +27 11 682 0318 Fax: +27 11 682 0673 www.randwater.co.za Date: 29/06/2015 04:10:00 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.