TORQ3, TORQ7 and TORQ8 - Notification of a Full Capital Reduction of Listed Debt Securities Torque Securitisation (RF) Limited (Incorporated in the Republic of South Africa) (Registration No. 2012/030043/06) Company code: TSRF Bond code: TORQ3 ISIN: ZAG000099235 Bond code: TORQ7 ISIN: ZAG000118761 Bond code: TORQ8 ISIN: ZAG000128760 (“Torque”) NOTIFICATION OF A FULL CAPITAL REDUCTION OF LISTED DEBT SECURITIES In accordance with the Terms and Conditions of Torque’s Secured Asset Backed Note Programme dated 9 June 2015, bondholders are herewith advised of the full capital reduction of the TORQ3, TORQ7 and TORQ8 notes. Bond Code: TORQ3 ISIN: ZAG000099235 Effective Date: 15 May 2018 Amount before Reduction: ZAR 8 164 064.00 Reduction Amount: ZAR 8 164 064.00 Amount after Reduction: ZAR 0.00 Bond Code: TORQ7 ISIN: ZAG000118761 Effective Date: 15 May 2018 Amount before Reduction: ZAR 10 205 080.00 Reduction Amount: ZAR 10 205 080.00 Amount after Reduction: ZAR 0.00 Bond Code: TORQ8 ISIN: ZAG000128760 Effective Date: 15 May 2018 Amount before Reduction: ZAR 9 715 236.00 Reduction Amount: ZAR 9 715 236.00 Amount after Reduction: ZAR 0.00 The full capital reduction is due to the amortisation of the listed debt securities of the Issuer. 11 May 2018 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11/05/2018 10:56:00 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.