Revision of FirstRand Limited and FirstRand Bank Limited national scale 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) REVISION OF FIRSTRAND LIMITED AND FIRSTRAND BANK LIMITED NATIONAL SCALE RATINGS Noteholders are referred to the announcement issued by S&P Global Ratings (S&P) on 7 August 2017, in which the agency revised the national scale ratings of FirstRand Bank Limited and FirstRand Limited which were labelled as under criteria for observation (UCO) after recalibrating its national scale mapping table for South Africa. The ratings do not reflect any change in the fundamental credit quality of the bank or group. The rating agency revised the following national scale ratings: Entity To From FirstRand Limited South Africa national scale long term zaA- zaBB+ South Africa national scale short term zaA-2 zaB FirstRand Bank Limited South Africa national scale long term zaAA zaA South Africa national scale short term zaA-1+ zaA-1 Subordinated zaA+ zaBBB+ Junior subordinated zaA- zaBB+ Noteholders are referred to S&P’s press release for any further information. Sandton 8 August 2017 Debt sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/08/2017 12:30:00 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.