Notice of availability of annual financial statements - BICITY THE CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY (A Municipality in terms of Section 155 of the Constitution of the Republic of South Africa, duly established by notice in the Provincial Notice 479/2000 dated 22nd September 2000, of the Western Cape, pursuant to Section 12(1) and Section 14(2) of the Local Government: Municipal Structures Act, 1998 (Act 117 of 1998) as amended) JSE alpha code: BICITY (“CCT” or the “Municipality”) NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS CCT hereby notifies its debt investors that it has publicly released its Annual Report for the year ended 30 June 2020 (“Annual Report”) and that the auditor’s report relating to the consolidated annual financial statements prepared by the Auditor-General of South Africa (“auditors” or “AGSA”) is unqualified. The Annual Report contains prior year restatements as a result of: 1. Reclassifications a. The City of Cape Town adopted GRAP 108 on statutory receivables as effective during the year ended 30 June 2020. Amendments were made to the classification of receivables so as to align with this standard, which have resulted in the reclassification of “Receivables and Other receivables” as statutory and contractual receivables. This change has had no financial impact on the statement of financial position. b. The City of Cape Town reclassified an amount from current receivables to long term receivables that related to a prepayment to the Department of Human Settlements, Province, where there was no movement for 36 months. This amount was fully recovered during the 2019/20 financial year and consequently the City reclassified this amount as a current asset in 2019. 2. Changes in accounting estimates in relation to the annual review of assets’ useful lives and impairment of statutory and contractual receivables. Full details of the restatements are set out in note 36 of the Annual Report. In addition, the auditor’s report contains a paragraph relating to emphasis of matters in relation to: 1. the abovementioned restatements; 2. material losses and impairments in relation to exchange and non-exchange transactions; 3. underspending of the budget due to the impact of the covid-19 lockdown, community dynamics and influences, delays with the appointment of service providers and contractor performance; 4. unaudited disclosure notes in terms of section 125(2)(e) of the MFMA; and 5. unaudited supplementary schedules which has been presented as additional information to the consolidated annual financial statements. The AGSA’s audit opinion has not been modified as a result of the emphasis of matters and full details are set out in the auditor’s report forming part of the Annual Report. The Annual Report, containing the consolidated annual financial statements, is available on the Municipality’s website at http://www.capetown.gov.za/local%20and%20communities/meet-the- city/city-reports/annual-reports and for inspection at the registered office of CCT at 12 Hertzog Boulevard, Cape Town, 8001, upon request. Cape Town 31 March 2021 Debt Sponsor Nedbank Corporate and Investment Banking Date: 31-03-2021 05:37:00 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.