ASN028 - Notice of succession event ABSA BANK LIMITED (Incorporated in terms of the laws of the Republic of South Africa) (Company Registration No: 1986/004794/06) JSE Code: ASN028 ISIN No: ZAG000118266 Notice of Succession Event: Absa Bank Limited (the “Issuer”)//JD Group Limited (“JD Group”) Notes: JD Group Series 4 Credit Linked Notes (the “Notes”) 1. This notice of Succession is delivered by the Issuer to each holder of the Notes (each a “Note Holder”) that have been issued under the Issuer’s ZAR40,000,000,000 Master Structured Note Programme dated 21 October 2013 (the “Programme”). 2. Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed thereto in the Programme. 3. The Issuer wishes to notify each Note Holder that: 3.1 effective 13 November 2015, a Successor event has occurred with respect to JD Group following the sale and transfer of certain of its assets and liabilities to Steinhoff Services Limited; and 3.2 as a consequence of the Successor event Steinhoff Services Limited has now become the relevant Replacement Reference Entity. 4. The Issuer hereby advises that the Replacement Reference Entity shall be Steinhoff Services Limited with the details of the Substitute Reference Obligation being as set out in Annex I below. 5. Further to this, please find attached a copy of the relevant article which constitutes the best available information confirming the occurrence of the Successor event described herein. 6. This notice shall be governed and construed in accordance with the laws of South Africa and nothing herein shall be construed as a waiver of any of the rights that the Issuer may have with respect to the Notes. For further information, please contact: Ms. Bonnie Brink Debt Sponsor: Absa Bank Limited, 15 Alice Lane, Sandton, 2196 Tel: (011) 895 6843 ANNEX I Specified Reference Obligation Reference Reference Description Senior or Absa Bond Entity Entity (ISIN/CUSIP) Subordinated Code Weighting Steinhoff 5% ZAG000131343 Senior ASN028 Services Limited 7 March 2016 Debt Sponsor Absa Bank Limited (acting through its Corporate and Investment Bank division) Date: 07/03/2016 12:07:00 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.