Notice confirming written consent of the noteholders - BIRP Real People Investment Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 1999/020093/06) Company code: BIRP (“the Issuer”) NOTICE CONFIRMING WRITTEN CONSENT OF THE NOTEHOLDERS 1. We refer to the request for consent (Consent Request) dated 6 October 2017 delivered by the Issuer to each holder of Notes (the Noteholders) issued under the Issuer’s ZAR5,000,000,000 Domestic Medium Term Note Programme (the Programme) pursuant to the section headed “Terms and Conditions of the Notes” (the Terms and Conditions) in the programme memorandum dated 23 February 2011 (the Programme Memorandum), in accordance with Condition 19 (Notices) of the Terms and Conditions for the purposes of obtaining the Noteholders’ written consent to (a) delist the ZAR79 000 000 Senior Unsecured Floating Rate Notes due 27 September 2019 (the RP014 Notes), (ii) the ZAR190 000 000 Subordinated Floating Rate Notes due 16 November 2022 (the RPS001 Notes), and (iii) the ZAR25 000 000 Subordinated Floating Rate Notes due 26 April 2025 (the RPS002 Notes, which together with the RP014 Notes and the RPS001 Notes are the Notes) and (b) deregister the Programme Memorandum from the JSE Limited and amend and restate the Terms and Conditions of the Applicable Pricing Supplements (as defined therein)of the relevant Notes accordingly. 2. We confirm that 100% of all Noteholders consented in favour of the proposed amendments which will be set out in the amended and restated Applicable Pricing Supplements of the Notes available on request from the Issuer. Requests should be sent to Zenelle Stofberg at Zstofberg@africafrontier.co.za. 30 October 2017 Debt Sponsor Rand Merchant Bank Limited, a division of FirstRand Bank Limited Date: 30/10/2017 12:25:00 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.