NQABA FINANCE 1 (RF) LIMITED - Nqaba - Downgrade of Eskom Holdings SOC Limited by Moody's Investor Services

Nqaba - Downgrade of Eskom Holdings SOC Limited by Moody's Investor Services

NQABA FINANCE 1 SECURITY SPV (RF) PROPRIETARY LIMITED
Registration Number 2005/036141/07
(“Nqaba")

Bond Code       ISIN No
NQ1A10          ZAG000077686
NQ1A17          ZAG000105941
NQ1A19          ZAG000126509
NQ1A21          ZAG000136664
NQ1A23          ZAG000143983
NQ1A24          ZAG000143991
NQ1A25          ZAG000144007
NQ1A26          ZAG000144155
NQ1B10          ZAG000077702
NQ1B15          ZAG000105966
NQ1B17          ZAG000126467
NQ1B19          ZAG000144163
NQ1C10          ZAG000077694
NQ1C15          ZAG000105958
NQ1C17          ZAG000126459
NQ1C19          ZAG000144148
NQF1D5          ZAG000077678
NQF1D7          ZAG000105974
NQF1D8          ZAG000136656

DOWNGRADE OF ESKOM HOLDINGS SOC LIMITED ("ESKOM") BY MOODY’S INVESTOR
SERVICES ("MOODY’S")

Nqaba notes the downgrade by Moody’s of Eskom on 28 March 2018 and confirms that no Early
Amortisation Event has occurred as a result of such downgrade.

Nqaba has nevertheless decided to reconsider the definition of the Early Amortisation Event linked to the
downgrade of the rating of the notes issued by Eskom under its domestic medium term note programme,
and will be in contact with noteholders in this regard in due course.

Johannesburg
10 April 2018

Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

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