Moody's Investor Services repositions the National Scale Rating of Mauritius Commercial Bank The Mauritius Commercial Bank Limited (Incorporated in the Republic of Mauritius) (Incorporated by Royal Charter in 1838 and registered as a limited liability company in the Republic of Mauritius under Mauritian law) Company code: BIMCB (“Mauritius Commercial Bank”) MOODY'S INVESTOR SERVICES REPOSITIONS THE NATIONAL SCALE RATING OF MAURITIUS COMMERCIAL BANK Noteholders are advised that Moody's Investors Service (“Moody’s”) has, on 10 May 2016, repositioned the National Scale Rating (NSR) of Mauritius Commercial Bank, in conjunction with the recalibration of the South African national rating scale and as part of the implementation of Moody’s updated methodology. Mauritius Commercial Bank’s NSR LT Senior Unsecured MTN (Foreign Currency) has been repositioned to Aa3.za from A3.za, the NSR LT Subordinate MTN (Foreign Currency) repositioned to Baa1.za from Baa2.za, whilst the GSR LT Senior Unsecured MTN (Foreign Currency) is published at (P)Baa3 and the GSR LT Subordinated MTN (Foreign Currency) is published at (P)Ba2. Whilst Moody’s revised methodology has had a positive impact on Mauritius Commercial Bank’s NSRs, these repositioned ratings do not signify a change in credit risk, since the Global Scale Ratings (GSRs) remain unchanged. Noteholders are referred to the press release by Moody’s for any additional information. 17 May 2016 Debt Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 17/05/2016 07:46:00 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.