Moody's Assigns Definitive Ratings to Notes Issued by Greenhouse Funding (RF) Limited Greenhouse Funding (RF) Limited (Incorporated in the Republic of South Africa) (Registration number: 2006/013853/06) JSE Code: GRH1A2 ISIN No: ZAG000101262 JSE Code: GRH1A3 ISIN No: ZAG000101346 JSE Code: GRH1B ISIN No: ZAG000101320 JSE Code: GRH1C ISIN No: ZAG000101304 MOODY’S ASSIGNS DEFINITIVE RATINGS TO NOTES ISSUED BY GREENHOUSE FUNDING (RF) LIMITED Following the press release by the FSB dated 4 September 2015 advising of the decision to deregister Fitch ratings as a rating agency, Greenhouse Funding (RF) Limited has appointed Moody’s Investors Service (Moody’s) as the replacement rating agency. On 25 May 2016, Moody’s has assigned the following definitive long- term credit ratings to the notes issued by Greenhouse Funding (RF) Limited: ZAR 63,646,217 Class A2 Secured Floating Rate Note due October 2039, Definitive Rating Assigned A1 (sf) / Aaa.za (sf) ZAR 900,000,000 Class A3 Secured Floating Rate Note due October 2039, Definitive Rating Assigned A1 (sf) / Aaa.za (sf) ZAR 110,000,000 Class B Secured Floating Rate Note due October 2039, Definitive Rating Assigned Baa3 (sf) / Aa3.za (sf) ZAR 70,000,000 Class C Secured Floating Rate Notes due October 2039, Definitive Rating Assigned Ba1 (sf) / A2.za (sf) Date: 26 May 2016 Debt Sponsor: Nedbank CIB Date: 26/05/2016 09:41:00 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.