Amendment to FirstRand Limited and FirstRand Bank Limited credit 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) JSE company code interest rate issuer: FRII JSE company code debt issuer: FRD JSE company code ETF issuer: FRLE (FRB or the bank) AMENDMENT TO FIRSTRAND LIMITED AND FIRSTRAND BANK LIMITED CREDIT RATINGS On 28 November 2017, Moody’s Investors Services (Moody’s) placed on review for downgrade the Baa3 long-term local and foreign currency deposit ratings of five large banks in South Africa, including FirstRand Bank Limited. On 29 November 2017, S&P Global Ratings' (S&P) downgraded eight financial institutions in South Africa, including FirstRand Limited and FirstRand Bank Limited. These actions follow similar action taken on the South Africa sovereign rating. Both agencies do not rate financial institutions in South Africa above the sovereign. Summary of rating actions: To From FirstRand Bank Limited Issuer credit rating BB/Stable/B BB+/Negative/B National scale zaAA-/zaA-1+ zaAA/zaA-1+ Senior unsecured BB BB+ Subordinated B+ BB- Subordinated zaA zaA+ Junior subordinated zaBBB+ zaA- SACP bbb- bbb FirstRand Limited Issuer credit rating B+/Stable/B BB-/Negative/B South Africa national scale zaBBB+/zaA-2 zaA-/zaA-2 S&P’s press release can be accessed on www.spglobal.com and the Moody’s release is available on www.moodys.com. 30 November 2017 Sponsor and Debt Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 30/11/2017 04:54:00 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.