Long-Term National Scale Issuer Rating Assigned INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (“IDC”) REGISTRATION NUMBER: 1940/014201/06 JSE Code: ISIN: IDCG02 ZAG000110164 IDCG03 ZAG000110149 IDCG04 ZAG000121682 IDCG05 ZAG000121716 IDCG06 ZAG000121732 IDCG07 ZAG000131350 IDCG08 ZAG000131368 IDCG09 ZAG000141011 IDCG10 ZAG000141029 IDCG11 ZAG000141037 IDCP04 ZAG000100629 IDCP05 ZAG000103896 IDCP06 ZAG000120395 MOODY’S ASSIGNS A ‘AA1.za’ LONG-TERM NATIONAL SCALE ISSUER RATING TO INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (IDC) Moody’s Investor Service, (“Moody’s) today assigned a first-time long- term national scale issuer rating (NSR) of Aa1.za to the IDC. The rating is effective from August 10, 2017. Moody’s notes that IDC’s national scale rating of Aa1.za is directly mapped for its long-term global scale issuer rating of Baa3 (negative outlook), reflecting the IDC’s strong relative creditworthiness among debt issuers in South Africa. IDC’s ratings also incorporate the rating agency’s assumptions of a high probability of government support in case of need, owing to its full government ownership and the developmental and policy role that it plays in the market. The report on the above mentioned rating action is available online at www.moodys.com. Johannesburg 11 August 2017 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 11/08/2017 10:18:00 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.