Notice to elect no payment of interest in terms of paragraph 22(j) for the applicable pricing supplements FirstRand Bank Limited (Incorporated in the Republic of South Africa) (Registration No. 1929/001225/06) Company code: BIFR1 (FRB) FIRSTRAND BANK LIMITED (Registration Number: 1929/001225/06) (the Issuer) NOTICE TO ELECT NO PAYMENT OF INTEREST IN TERMS OF PARAGRAPH 22(J) FOR THE APPLICABLE PRICING SUPPLEMENTS 1. In terms of this notice the Issuer of the Applicable Pricing Supplements issued under the FirstRand Bank Limited ZAR30,000,000,000 Note Programme (the Programme) established pursuant to a programme memorandum dated 29 November 2011 (the Programme Memorandum) elects to make no Interest Payment on the next Interest Payment Date, which is 24 February 2016 to any Noteholders of: 1.1 applicable pricing supplement dated 29 February 2012 (the FRC99 Applicable Pricing Supplement) in relation to the issue of ZAR3,000,000 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC99) (the FRC99 Notes); 1.2 applicable pricing supplement dated 2 March 2012 (the FRC101 Applicable Pricing Supplement) in relation to the issue of ZAR1,700,000 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC101) (the FRC101 Notes); 1.3 applicable pricing supplement dated 19 March 2012 (the FRC105 Applicable Pricing Supplement) in relation to the issue of ZAR8,000,000 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC105) (the FRC105 Notes); 1.4 applicable pricing supplement dated 16 March 2012 (the FRC106 Applicable Pricing Supplement) in relation to the issue of ZAR1,500,000 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC106) (the FRC106 Notes); 1.5 applicable pricing supplement dated 19 April 2012 (the FRC108 Applicable Pricing Supplement) in relation to the issue of ZAR88,627,591 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC108) (the FRC108 Notes); 1.6 applicable pricing supplement dated 28 August 2012 (the FRC148 Applicable Pricing Supplement) in relation to the issue of ZAR1,500,000 Credit Linked Notes with Scheduled Termination Date of 24 February 2017 (Stock Code FRC148) (the FRC148 Notes); the FRC99 Notes, the FRC101 Notes, the FRC105 Notes, the FRC106 Notes, the FRC108 Notes and the FRC148 Notes, together constituting the Notes and the FRC99 Applicable Pricing Supplement, the FRC101 Applicable Pricing Supplement, the FRC105 Applicable Pricing Supplement, the FRC106 Applicable Pricing Supplement, the FRC108 Applicable Pricing Supplement and the FRC148 Applicable Pricing Supplement, together constituting the Applicable Pricing Supplements. 2. Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed thereto in the Terms and Conditions (read together with the Additional Terms and Conditions of Credit-Linked Notes (the Credit-Linked Annex)) where the context requires. 24 November 2015 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 24/11/2015 12:05:00 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.