S&P rating announcement BNP Paribas Personal Finance South Africa Limited (Previously RCS Investment Holdings Limited) (Incorporated in the Republic of South Africa) (Registration No. 2000/017884/06) Company code: RCSI (“BNP Paribas PF South Africa”) S&P rating announcement On April 03, 2017 Standard & Poor’s Global Ratings (“S&P”) lowered its foreign currency ratings on South Africa to 'BB+/B' from 'BBB-/A-3' with a negative outlook. S&P do not rate financial institutions in South Africa above the foreign currency sovereign ratings, due to the direct and indirect impact that a sovereign distress would have on operations. As a result of the above, please note: 1. There has been no change to the ‘zaAAA/zaA-1’ S&P rating assigned to the BNP Paribas PF South Africa ZAR10,000,000,000 Domestic Medium Term Note Programme, which is guaranteed by BNP Paribas Societe Anonyme (France), dated September 05, 2016; and 2. On April 05, 2017, S&P lowered the long-term South African national scale rating on BNP Paribas PF South Africa to ‘zaA’ from ‘zaAA-‘, and affirmed the short-term national scale rating of ‘zaA-1’. 06 April 2017 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) BNP Paribas (www.bnpparibas.com) is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 in Europe. The BNP Paribas group, through its wholly owned subsidiary BNP Paribas Personal Finance, acquired 100% of RCS in August 2014. RCS is a consumer finance business predominantly based in South Africa, with over 16 years in the industry. Date: 06/04/2017 04:32:00 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.