Repositioning of national scale ratings for banks and financial institutions FIRSTRAND LIMITED (Incorporated in the Republic of South Africa) Registration number: 1966/010753/06 JSE Ordinary Share Code: FSR JSE Ordinary Share ISIN: ZAE000066304 JSE B Preference Share Code: FSRP JSE B Preference Share ISIN: ZAE000060141 NSX Ordinary Share Code: FST FIRSTRAND BANK LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1929/001225/06) Company code: BIFR1 (FRB or the bank) REPOSITIONING OF NATIONAL SCALE RATINGS FOR BANKS AND FINANCIAL INSTITUTIONS Note holders are referred to the announcement issued by Moody’s Investor Services (Moody’s) on 10 May 2016, in which the agency repositioned the national scale ratings (NSR) of nine banks and other financial institutions issuers in South Africa, in conjunction with the recalibration of the South African NSR. This rating action also concludes the review initiated on the NSRs of the five largest South African banks on 10 March 2016. The rating agency repositioned FRB’s national-scale deposit and senior debt ratings to Aaa.za from A1.za. Note holders are referred to Moody’s press release for any further information. Sandton 12 May 2016 Debt sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 12/05/2016 11:22:00 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.