AMENDMENT TO LOCAL AND FOREIGN CURRENCY CREDIT RATING - BIDBS THE DEVELOPMENT BANK OF SOUTHERN AFRICA (Incorporated in the Republic of South Africa) (“DBSA”) or (“the Issuer”) Registration number: 1600157FN JSE Company Code: BIDBS Amendment to the Development Bank of Southern Africa (“DBSA” or “the Company”) credit ratings In accordance with paragraph 4.26 of the JSE Debt Listings Requirements, noteholders are hereby advised of the amendment to DBSA’s credit rating effective on 29 November 2017. S&P Global Ratings (“S&P” or “the agency”) has downgraded DBSA’s long-term foreign-currency issuer credit rating to BB/B from BB+/B and the local currency issuer credit rating to BB+/B from BBB-/A-3. Outlook is stable. The stable outlook reflects that on South Africa. This rating action follows the weakening of the South African government’s credit profile, as captured by S&P’s lowering of the South African foreign currency sovereign ratings to BB/B from BB+/B and the local currency sovereign ratings to BB+/B from BBB-/A-3 on 24 November 2017. For commentary on detailed ratings taken on DBSA please refer to the following links: www.standardandpoors.com www.dbsa.org Johannesburg 30 November 2017 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 01/12/2017 09:15:00 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.