HARCOURT STREET 1 (RF) LIMITED - Notification of an update to the programme

Notification of an update to the programme

Harcourt Street 1 (RF) Limited
(Incorporated with limited liability in the Republic of South Africa)
(Registration Number 2015/047670/06)
JSE Code: HCTI

NOTIFICATION OF AN UPDATE TO THE ZAR10,000,000,000 HARCOURT STREET MULTI-
ISSUER SECURED NOTE PROGRAMME

In accordance with the provisions of paragraph 6.20 of the JSE Debt and Specialist Securities
Listings Requirements, noteholders are advised that Harcourt Street 1 (RF) Limited (the "Issuer")
has updated the Programme Memorandum, Applicable Transaction Supplement, Applicable
Issuer Supplement (referred hereinafter together as the "Placing Documents") and other related
documents in relation to the ZAR10,000,000,000 Harcourt Street Multi-Issuer Secured Note
Programme (the "Programme").

A summary of the amendments are as follows:
• amendments for purposes of complying with the updated JSE Debt and Specialist Securities
   Listings Requirements;
• amendments for purposes clarifying the difference between a Series Transaction and a Sub-
   Series;
• amendments to the Terms and Conditions of the Programme to incorporate certain provisions
   which have, prior to the amendment of the Programme Memorandum, been included in every
   Applicable Pricing Supplement executed in relation to the issuance of Notes;
• the information included in certain sections of the Programme have been removed and are
   now contained in an Information Statement; and
• to correct errors of typographical nature.

This announcement only contains a summary of the amendments to the previous placing
documents and therefore does not contain the full or complete details of the amendments. Any
investment decisions made by investors and/or Noteholders should only be made after due and
careful consideration of, inter alia, the amended placing documents.

A copy of the amended Placing Documents, the Information Statement and the Series Guarantee,
are        available      for      inspection    on      the     following     website      link:
https://www.investec.com/en_za/investec-for-institutions/fixed-income/structured-sales/harcourt-
street-rf-limited.html. All other related documents which have been amended can be inspected
upon request from the Issuer.

Please note that the amendments to the Placing Documents and other related documents will
only apply to new Notes issued by the Issuer after the date of the amended Programme, being 5
December 2025.


9 December 2025
Debt Sponsor:
Investec Bank Limited
abotha@investec.co.za

Date: 09-12-2025 09:10:00
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