BILB-Announcement to All Financial Creditor Funders The Land and Agricultural Development Bank of South Africa (JSE Code: BILB) (“Land Bank”) IMPORTANT ANNOUNCEMENT TO ALL FINANCIAL CREDITOR FUNDERS OF LAND BANK, INCLUDING HOLDERS OF NOTES LISTED UNDER THE 2010 DMTN AND THE 2017 DMTN: SECOND PART CAPITAL REDUCTION REPAYMENT In the SENS announcement dated 14 January 2021, Land Bank provided the market with an update in respect of the Liability Solution and has continued to engage with its lenders, including the holders of listed debt securities issued under its JSE-listed ZAR20 billion DMTN Programme dated 18 October 2010 (“2010 DMTN”) and its ZAR30 billion DMTN Programme dated 13 March 2017 (“2017 DMTN”) to progress towards a Liability Solution. Land Bank has, since August 2020, repaid approximately 12% of the capital amount that was owing to its financial creditor funders at the time of default (together with all associated interest). Land Bank now wishes to facilitate a further payment equivalent to approximately 10% (ten percent) of the outstanding capital amount owing to each financial creditor funder (lenders and holders of its debt instruments) pursuant to each such party’s debt documents (the “Second Part Capital Reduction Repayment”) on the basis set in this announcement. Land Bank plans to implement this payment in a manner that is, as far as is reasonably possible, consistent with the INSOL principles. Interest will be paid on the next contractual interest payment date. Lenders who will be receiving contractual capital amortization payments from Land Bank in August or September 2021 will not be entitled to the Second Part Capital Reduction Payment in addition to such contractual capital amortization payments. Instrument Payment Date Payment Method Call Bonds; 19 July 2021 Directly by Land Bank Bank Overdrafts; Loans with local banks; and Loans with local DFIs Unlisted instruments: 22 July 2021 STRATE Promissory Notes and Bills; and Step Rate Notes. Listed and unlisted 2010 DMTN As soon as possible, after the STRATE Notes and 2017 DMTN Notes amendments to the Applicable Pricing Supplements to facilitate redemption of part of the notes have been approved by the noteholders and the relevant notice periods in relation to a part redemption of notes at the option of the 2 Issuer have expired (expected towards end September 2021) International DFIs and MIGA- On contractual payment dates Directly by Land Bank guaranteed Lenders or as otherwise agreed Funds due to noteholders under the 2010 DMTN and 2017 DMTN and certain of the offshore lenders will be ring fenced in specific bank accounts and kept separate from Land Bank’s other operational funds from 19 July 2021 until their respective payment dates. 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 Dorothy Kobe, General Manager: Treasury- email address: DKobe@landbank.co.za 12 July 2021 Debt Sponsor The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division (registration number: 1962/000738/06) Contacts: Ms Kea Sape Email: Kea Sape Tel: +27 (0) 11 721 5594 End Date: 12-07-2021 02:31:00 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.