BARCLAYS AFRICA GROUP LIMITED - BAGL and BIABS -Barclays Africa Group Limited and Absa Bank Limited: Change in ratings by Fitch Ratings

BAGL and BIABS -Barclays Africa Group Limited and Absa Bank Limited: Change in ratings by Fitch Ratings

BARCLAYS AFRICA GROUP LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/003934/06)
Bond Issuer Code: BAGL
 (“Barclays Africa Group Limited”, “BAGL” or “the Company”)

ABSA BANK LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/004794/06)
Bond Issuer Code: BIABS
("Absa Bank Limited" or “Absa”)

BARCLAYS AFRICA GROUP LIMITED AND ABSA BANK LIMITED: CHANGE IN RATINGS BY FITCH
RATINGS (‘FITCH’)

Notice is hereby given to noteholders that Fitch has on 11 December 2015 announced a rating action on a
number of South African Banks and associated holding companies. These rating actions were driven by
Fitch’s downgrade of the Republic of South Africa to ‘BBB-‘/Stable as well as a revision in the country’s
ceiling to ‘BBB’.

The National Ratings of Barclays Africa Group Limited and Absa Bank Limited have been affirmed, while the
foreign and local currency Issuer Default Ratings (“IDR”) have been downgraded. All outlooks are Stable,
reflecting the Stable outlook on the Sovereign.

The rating actions on Barclays Africa Group Limited and Absa Bank Limited are as follows:

Barclays Africa Group Limited
    - Long-term foreign currency IDR: downgraded to 'BBB' from 'A-'; Outlook Stable
    - Long-term local currency IDR: downgraded to 'BBB+ from 'A-'; Outlook Stable
    - Short-term foreign currency IDR: downgraded to 'F3' from 'F2'
    - National Long-term rating: affirmed at 'AAA(zaf)'; Outlook Stable
    - National Short-term rating: affirmed at 'F1+(zaf)'
    - Viability Rating: downgraded to 'bbb-' from 'bbb'
    - Support Rating: downgraded to '2' from '1'
    - Senior unsecured debt: affirmed at 'AAA(zaf)'/'F1+(zaf)'
    - Subordinated notes: affirmed at 'AA+(zaf)'

Absa Bank Limited
   - Long-term foreign currency IDR: downgraded to 'BBB' from 'A-'; Outlook Stable
   - Long-term local currency IDR: downgraded to 'BBB+' from 'A-'; Outlook Stable
   - Short-term foreign currency IDR: downgraded to 'F3'from 'F2'
   - National Long-term rating: affirmed at 'AAA(zaf)'; Outlook Stable
   - National Short-term rating: affirmed at 'F1+(zaf)'
   - Viability Rating: downgraded to 'bbb-' from 'bbb'
   - Support Rating: downgraded to '2' from '1'
   - Senior unsecured debt: downgraded to 'BBB'/'F3' from 'A-'/F2' and affirmed at 'AAA(zaf)'

Further details are available on Fitch’s website (www.fitchratings.com) or contained within the press release
titled ‘Fitch Downgrades Four South African Banks; Outlook Stable - 11 December 2015’.

14 December 2015

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)

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