Amendment to Firstrand Limited and Firstrand Bank Limited Credit Ratings 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 or the group) FirstRand Bank Limited (Incorporated in the Republic of South Africa) (Registration number: 1929/001225/06) Issuer code: FRII Issuer code: FRD Issuer code: FRLE (FRB or the bank) AMENDMENT TO FIRSTRAND LIMITED AND FIRSTRAND BANK LIMITED CREDIT RATINGS Following S&P Global Ratings' (S&P or the agency) rating action on the South African sovereign on Monday, 3 April 2017, the agency yesterday downgraded a number of South Africa’s largest banks as the banks’ ratings are constrained by the sovereign rating. As a result, the ratings on both FirstRand Limited and FirstRand Bank Limited were lowered. Summary of rating actions: S&P lowered the long- and short-term counterparty credit ratings on FirstRand Bank Limited to BB+/B from BBB-/A-3. The outlook remains negative. At the same time, the long-term South African national scale rating on FirstRand Bank Limited was lowered to zaA from zaAA-, and the short-term national scale rating affirmed at zaA-1. FirstRand Limited’s long-term counterparty credit rating was lowered to BB- from BB+. The short-term counterparty credit rating was affirmed at B. The long- and short-term national scale ratings on FirstRand Limited were lowered to zaBB+/zaB from zaA/zaA-2. FRB’s standalone credit rating has remained unchanged at bbb. S&P’s press release can be accessed on: www.spglobal.com 6 April 2017 Sponsor and Debt Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 06/04/2017 11:20:00 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.