Credit Rating Announcement - BITRA Transnet SOC Limited (Incorporated in the Republic of South Africa) (Registration Number: 1990/000900/30) Issuer Bond Code: BITRA ("Transnet", "the Company" or the "Issuer") MOODY'S INVESTORS SERVICE (MOODY'S) RATINGS DECISION Noteholders are advised that on 25 January 2024, Moody's announced its ratings decision on Transnet's credit ratings following its decision, on 10 November 2023, to place Transnet credit ratings on review for a downgrade. Accordingly, Moody's has affirmed Transnet's corporate family rating (CFR) of 'Ba3' and lowered the Company's Baseline Credit Assessment (BCA), which is the Company's standalone rating before Government support, to 'b3' from 'b2'. Further, the global and national scale senior unsecured MTN programme (Medium-Term Note) ratings were affirmed at '(P)Ba3/A2.za', the global and national scale subordinated MTN programme ratings were affirmed at '(P)B1/Baa2.za', the senior unsecured and the backed senior unsecured ratings were affirmed at 'Ba3' and the national scale other short-term rating was confirmed at 'P-1.za'. The ratings outlook was revised to negative from under review. For a detailed analysis of the rating, please refer to the following link: https://www.transnet.net/InvestorRelations/SENS%20Announcements/Rating_Action-Moodys- confirms-Transnets-Ba3-25Jan2024-PR_484750.pdf Johannesburg 25 January 2024 JSE Debt Sponsor Absa Corporate and Investment Bank (a division of Absa Bank Limited) Date: 25-01-2024 05:45:00 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.