Credit rating upgrade - TRAA2, TRAB1, TRAC1, TRAD1 Transsec RF Limited (Incorporated with limited liability in the Republic of South Africa) (Registration number 2012/209822/06) Formerly called Transsec Proprietary Limited (with registration number 2012/209822/07) (“Transsec”) Credit Rating Upgrade of Transsec RF Limited Notes Date: 03 November 2017 Stock Code: TRAA2, TRAB1, TRAC1, TRAD1 Authorised Programme size R4,000,000,000 Total notes issued R1,193,000,000 On October 31, 2017, S & P Global Ratings upgraded to 'zaAA (sf)' on Transsec (RF) Limited class A2, B1 and C1 notes and upgraded to ‘zaA+ (sf) on Transsec (RF) Limited class D1 notes (see list below) Stock Code Class Rating From: Rating to: TRAA2 A2 zaA (sf) zaAA (sf) TRAB1 B1 zaA (sf) zaAA (sf) TRAC1 C1 zaA (sf) zaAA (sf) TRAD1 D1 zaBBB+ (sf) zaA+ (sf) Please note that the ratings of the Class A2, Class B1 and Class C1 notes have been capped at the long term national scale issuer credit rating of FirstRand Bank Ltd (zaAA), due to its role as the transaction bank account provider. Debt Sponsor The Standard Bank of South Africa Limited Transs ec RF Lt d R e gi st r a t i o n N o. 2 0 1 2 / 2 0 9 8 2 2/ 0 6 A T r a n s a c t i o n C a p i t al L i m i t e d c o m p a n y 1 7 9 – 1 5t h R o a d , R a n d j es p a r k , M i d r a n d • B o x 4 1 8 8 8 , C r a i g h a l l , 20 2 4 T el : 0 1 1 5 5 0 9 3 0 0 • F a x : 0 1 1 4 4 7 2 8 8 5 • w w w . sa t axi . c o. z a D i r e ct o r s : L . C a r d o s o , O . F e r r e i r a * , R . T h a nt h o n y * , J . T r ev e n a * ( * N o n- E x e c ut i v e ) Date: 03/11/2017 12:45:00 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.