BILB-Update on Liability Solution and Termination of Credit Rating Agency Service The Land and Agricultural Development Bank of South Africa (JSE Code: BILB) (“Land Bank” or the “Issuer”) For release: 30 March 2021 UPDATE ON LIABILITY SOLUTION AND TERMINATION OF CREDIT RATING AGENCY SERVICE We refer to the SENS announcement issued on 14 January 2021 where an update on the Liability Solution was provided. Since then a R7 billion equity appropriation was announced by the Minister of Finance in his Budget speech of 24 February 2021. Land Bank continues to work with all of its lenders towards a Liability Solution that meets any conditions attached to this R7 billion equity appropriation and to bring Land Bank out of its event of default situation. This proposed Liability Solution will not require Land Bank to have a credit rating and therefore a decision was taken to terminate the existing credit rating service conducted through Moody’s. The listed notes remain suspended until further notice. 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 End Date: 30-03-2021 03:48:00 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.