LOM03 and LOM04 - Listing of New Financial Instruments Lombard Insurance Company Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001253/06) Company code: LIC Bond Code: LOM03 ISIN: ZAG000164328 Bond Code: LOM04 ISIN: ZAG000164336 (“Lombard”) LISTING OF NEW FINANCIAL INSTRUMENTS The JSE Limited has granted Lombard the listing of its Unsecured Subordinated Floating Rate Notes, in terms of its Unsecured Subordinated Note Programme (“the Programme”) dated 17 November 2014, effective 25 November 2019. Debt Security Code: LOM03 ISIN: ZAG000164328 Nominal Issued: ZAR 100 000 000.00 Coupon Rate: 3 Month JIBAR plus 390 basis points Maturity Date: 25 November 2024 Debt Security Code: LOM04 ISIN: ZAG000164336 Nominal Issued: ZAR 100 000 000.00 Coupon Rate: 3 Month JIBAR plus 410 basis points Maturity Date: 25 May 2025 Type of Debt Security: Floating Rate Notes Issue Date: 25 November 2019 Issue Price: 100% Interest Commencement Date: 25 November 2019 Interest Determination Date(s): 25 February, 25 May, 25 August and 25 November of each year until the maturity date, with the first interest determination date being 20 November 2019 First Interest Payment Date: 25 February 2020 Interest Payment Date(s): 25 February, 25 May, 25 August and 25 November of each year until the maturity date Last Day to Register: By 17h00 on 14 February, 14 May, 14 August and 14 November of each year until the maturity date Books Close: 15 February, 15 May, 15 August and 15 November of each year until the maturity date Business Day Convention: Following Business Day Final Redemption Amount: ZAR 100 000 000.00 Other: The pricing supplements do not contain additional terms and conditions or changes to the terms and conditions as contained in the Programme Summary of Additional Terms: Not Applicable Programme Amount: ZAR 1 000 000 000.00 Total Notes in Issue Under Programme: ZAR 200 000 000.00, exclusive of these issuances of notes Dealer: FirstRand Bank Limited, acting through its Rand Merchant Bank division The Notes will be immobilised in the Central Securities Depository and settlement will take place electronically in terms of the JSE Rules. 22 November 2019 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 22/11/2019 01:12:00 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.