Outcome of legal proceedings - The Land and Agricultural Development Bank of South Africa BILB The Land and Agricultural Development Bank of South Africa (JSE Code: BILB) (the “Land Bank”) Outcome of legal proceedings: STANDARD CHARTERED BANK LTD V THE LAND AND AGRICULTURAL DEVELOPMENT BANK : CASE NO. 38041/2020 On 26 August 2020, Land Bank announced on SENS that on 18 August 2020, Standard Chartered Bank (“SCB”) served a court application on Land Bank to recover certain debt owing by Land Bank. Land Bank worked with its advisers and opposed the application. On 2 December 2020 in the High Court of South Africa, Gauteng Division, Pretoria, the Honourable Justice Janse van Nieuwenhuizen, granted an order against the Land Bank, the salient terms of the judgment can be summarised as follows: 1. Land Bank is required to make payment to SCB of the amount owing plus interest. 2. However, this court order and such payment is suspended for 17 months, until 30 April 2022, unless certain designated milestones are not achieved, in which event the court order will become immediately enforceable. 11 December 2020 Enquiries Land and Agricultural Development Bank of South Africa Ayanda Kanana, Chief Executive Officer Khensani Mukhari, Chief Financial Officer Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833 Debt Sponsor The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division (registration number: 1962/000738/06) Contacts: Ms Natalie Di-Sante Email: Natalie.di-sante@standardbank.co.za Tel: +27 (0) 11 721 6125 Date: 11-12-2020 11:45:00 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.