REPUBLIC OF SOUTH AFRICA - Update: Infrastructure and development finance bonds - RI2036 and RI2041

Update: Infrastructure and development finance bonds - RI2036 and RI2041

REPUBLIC OF SOUTH AFRICA
Department of National Treasury
Issuer code: BIRSA
Bond code: RI2036 ISIN: ZAG000221045
Bond code: RI2041 ISIN: ZAG000221052
("National Treasury" or the "Issuer")

UPDATE: INFRASTRUCTURE AND DEVELOPMENT FINANCE BONDS – RI2036 AND RI2041

Noteholders are referred to the announcement published on SENS on 10 December 2025 regarding the
listing of Unsecured Fixed Rate Infrastructure and Development Finance Bonds ("Notes") under series
RI2036 and RI2041, respectively, issued in terms of the Republic of South Africa's Domestic Multi Term Note
Programme Memorandum dated 9 September 2019, as updated, supplemented and/or amended from time
to time, with effect from 11 December 2025. In particular, noteholders are referred to the "Disclosure and
Reporting" provisions set out in Schedule 1 of the Notes' applicable pricing supplements ("APSs").

In terms of Schedule 1 of the APSs, the Issuer undertook to provide periodic reporting on infrastructure
delivery and socio-economic outcomes, with the monitoring and evaluation function to be performed by the
Infrastructure Fund ("IF"), a unit within the Development Bank of Southern Africa ("DBSA"). Noteholders are
hereby advised that, with effect from 1 April 2026, the IF was transferred to, and incorporated within, the
Infrastructure Finance and Implementation Support Agency ("IFISA"), a newly established unit housed within
the DBSA.

The transfer of the IF to IFISA does not amend or otherwise impact the terms and conditions as set out in
the relevant agreements concluded with the IF. IFISA will continue to operate as a ring-fenced unit within the
DBSA and will assume all rights, obligations and responsibilities previously undertaken by the IF.

Accordingly, noteholders are advised that:

    •   the transition from IF to IFISA does not amend, novate or otherwise affect any existing contractual
        arrangements;
    •   all rights, obligations and liabilities under the relevant agreements remain in full force and effect and
        are enforceable without interruption; and
    •   IFISA will continue to perform the monitoring and evaluation functions in respect of the RI2036 and
        RI2041 Notes, as previously undertaken by the IF.

Accordingly, there is no impact on the terms and conditions of the RI2036 and RI2041 Notes or on the
ongoing services provided in relation thereto.

This announcement is published for information purposes and in the interest of transparency to noteholders.

For further enquiries contact:

Terry Bomela-Msomi
Director: Treasury Funding & Liquidity
012 315 5753 / +27 66 289 2492


Pretoria
14 April 2026

Debt Sponsor
One Capital

Date: 14-04-2026 05:30:00
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