FRC178 -Notification of an Early Redemption of Debt Securities in terms of the Programme and Par29(E)(i) of the APS FirstRand Bank Limited (Incorporated in the Republic of South Africa) (Registration number: 1929/001225/06) Issuer code: FRII LEI: ZAYQDKTCATIXF9OQY690 Bond Code: FRC178 ISIN: ZAG000107897 (FRB or the Issuer) NOTIFICATION OF AN EARLY REDEMPTION OF LISTED DEBT SECURITIES IN TERMS OF CONDITIONS 10.4 AND 11.3.1.4 OF THE PROGRAMME AND PARAGRAPH 29(e)(i) OF THE APPLICABLE PRICING SUPPLEMENT 1. The Issuer hereby notifies the noteholders of the ZAR50,000,000 Credit Linked Notes (the Noteholders) with a Scheduled Termination Date of 6 August 2023 (Stock Code FRC178, ISIN ZAG000107897) (the Notes), issued in terms of the Applicable Pricing Supplement dated 7 August 2013 (the Applicable Pricing Supplement) under the FirstRand Bank Limited ZAR30,000,000,000 Note Programme (the Programme) established pursuant to a programme memorandum dated 29 November 2011, as amended from time to time (the Programme Memorandum), that the Issuer has elected to early redeem the Notes, in accordance with conditions 10.4 and 11.3.1.4 of the Programme Memorandum and pursuant to paragraph 29(e)(i) of the Applicable Pricing Supplement, on the Early Redemption Date specified below (the Early Redemption). 2. The early redemption event described in paragraph 29(e)(i) of the Applicable Pricing Supplement states that an early redemption of the Notes would occur if, in the Calculation Agent’s then estimation, the Early Redemption Amount is equal to or less than 30% of the Aggregate Nominal Amount (the Trigger Event). 3. Accordingly, and pursuant to the provisions of condition 22 of the Programme Memorandum, the Issuer hereby notifies the Noteholders of the following in relation to the Early Redemption: Bond Code: FRC178 ISIN: ZAG000107897 Number of Notes to be redeemed: 50 Tranche Number: 1 Series Number: 178 Nominal Amount before the Early Redemption: ZAR9,608,400.00 Reduction in Nominal Amount: ZAR9,608,400.00 Nominal Amount after the Early Redemption: ZAR 0.00 Early Redemption Amount: ZAR2,697,078.00 Date on which the Trigger Event occurred: 24 March 2020 Record date: 23 March 2020 Early Redemption Date: 27 March 2020 Early Redemption Payment Date: 31 March 2020 4. Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed thereto in the Programme Memorandum and the Applicable Pricing Supplement where the context requires. 25 March 2020 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Think Precinct, 1 Merchant Place Cnr Fredman Drive & Rivonia Road Sandton 2196, South Africa P O Box 786273, Sandton, 2146, South Africa Date: 25-03-2020 10:10:00 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.