ACSA-Programme Memorandum Amendment Airports Company South Africa SOC Limited (Incorporated in the Republic of South Africa) (Registration number 1993/004149/30) (“ACSA”) or (“the Issuer”) Bond Issuer Code: BIACSA Amendments to the Programme Memorandum Noteholders are hereby advised that Airports Company South Africa has updated their Domestic Medium Term Note Programme. a) The Amended Programme Memorandum as well as the Information Statement have been updated to comply with all of the applicable provisions of the amended JSE Debt Listings Requirements (“JSE Debt Listings Requirements”) and the amended rules and directives of Strate Proprietary Limited (“CSD Procedures”). These updates include, in summary: • the appointment of an Issuer Agent, as prescribed by the CSD Procedures; • the amended payment procedures under the Notes, as prescribed by the CSD Procedures, • the amended form of the Notes, as prescribed by the CSD Procedures (see the sections of the Amended Programme Memorandum headed “Form of the Notes” and “Settlement, Clearing and Transfers of Notes”); • amendments to the pro-forma applicable pricing supplement and to the Terms and Conditions reflecting the current JSE wording and requirements; • amendments to the risk factors relating to the Issuer • amendments to the Issuer’s business description reflecting changes to the management and the board, together with certain amendments required by the JSE including the form of statements regarding compliance with King IV; • amendments reflecting current South African taxation laws. The Amended Programme Memorandum was approved by the JSE on 17 December 2019 and is available for viewing on the following website link: http://www.airports.co.za/business/investor-relations/investor-information Johannesburg 19 December 2019 Debt Sponsor The Standard Bank of South Africa Limited Date: 19-12-2019 12:32:00 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.