Buy Back of ABK11 Notes Issued in terms of the DMTN Programme Listed on the JSE AFRICAN BANK LIMITED (Incorporated in the Republic of South Africa) (Registered Bank) (Registration No. 2014/176899/06) Company code: ABKI Bond code: ABK11 ISIN: ZAG000134529 (“the Bank” or “African Bank”) Buy back of ABK11 notes issued in terms of the DMTN programme listed on the JSE Noteholders are referred to the Stock Exchange News Service (SENS) announcement released by African Bank on 15 September 2017 (the Prior Notice), wherein the Bank disclosed the results of an invitation to noteholders to offer to sell any or all of their holdings in certain senior unsecured notes (including the ABK11 notes) issued under the Bank’s Domestic Medium Term Note (DMTN) programme listed on the Interest Rate Market of the JSE Limited. The results of the process were reported in the Prior Notice, including a remaining outstanding nominal amount of ABK11 notes amounting to approximately R24.8 million. The Bank today notifies noteholders that it has bought back additional ABK11 notes, amounting to more than 10% of the remaining outstanding nominal notes of the ABK11 notes as referred to the Prior Notice. The details of the buyback transaction are detailed below: Stock ISIN Contractual Outstanding Nominal Amount Remaining Code Maturity Nominal bought back (ZAR) Outstanding Date Amount (ZAR) (ZAR) % Nominal Amount (ZAR) ABK11 ZAG000134529 20 May 2019 R24.8 million R4.0million 16% R20.8 million Settlement of the notes bought back, as set out above, is scheduled for Friday, 15 December 2017. As stated in the Prior Notice, the Bank does not currently intend to cancel any portion of the bought back notes and, as a consequence, there will be no corresponding reduction in the outstanding nominal amount issued of the affected notes. The Bank however retains the right to cancel any such notes held by it and accordingly undertakes to inform the market by way of a SENS notice as and when it elects to do so. 15 December 2017 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 15/12/2017 10:00:00 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.