Credit Rating of African Bank Limited by Standard & Poor’s Rating Services AFRICAN BANK LIMITED (Incorporated in the Republic of South Africa) (Registration No. 2014/176899/06) Company code: ABKI (“the Bank” or “African Bank”) CREDIT RATING OF AFRICAN BANK LIMITED BY STANDARD & POOR’S RATING SERVICES Standard & Poor’s Rating Services (“S&P”) have assigned a ‘B+/B’ global scale rating and a ‘zaBB- /zaB’ national scale rating to African Bank. The outlook is negative, reflecting S&P’s negative economic risk perception of the South African banking system. This rating also applies to the Bank’s US$ 6 billion Euro Medium Term Note programme (“EMTN”) and all notes issued under that programme which are listed either on the London Stock Exchange (“LSE”) or the Swiss Securities Exchange (“SIX”). The ZAR 25 billion Domestic Medium Term Note programme (“DMTN”) and all notes issued under that programme have not been rated. The rating covers the following securities listed on the LSE under the Bank’s EMTN programme: ISIN Nominal Amount (US$) Maturity Date XS1390059969 280 000 000 8 Feb 2020 XS1390060546 280 000 000 19 Oct 2020 The rating covers the following securities listed on SIX under the Bank’s EMTN programme: Series Number ISIN Nominal Amount (CHF) Maturity Date Series 1 CH0310140543 120 000 000 18 Mar 2019 Series 2 CH0310140568 100 000 000 20 Jul 2020 Series 3 CH0310140584 84 000 000 5 Jun 2021 Series 4 CH0310140600 140 000 000 22 Apr 2022 Interested parties can contact African Bank at investor.relations@africanbank.co.za for any further information. Date 6 April 2016 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 06/04/2016 08:00:00 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.