TRANSSEC 5 (RF) LIMITED - Transsec 5 (RF) Limited Cautionary announcement

Transsec 5 (RF) Limited – Cautionary announcement

Transsec 5 (RF) Limited

Transsec 5 (RF) Limited – Cautionary Announcement

SA Taxi Development Finance Proprietary Limited ("SATDF") is the Servicer and Administrator for Transsec
5 (RF) Limited ("Transsec 5").

In its role as Servicer, SATDF is responsible for collections of Transsec 5 debtors including establishing the
collections, repossessions and recovery procedures and policies for Transsec 5.

Transsec 5, Class A, Class B and Class C Noteholders and prospective/potential Noteholders (together the
"Noteholders") are hereby advised that as part of the process of restructuring the business and structure of
the SA Taxi Group of companies (as has been made public in numerous announcements released on SENS
by Transaction Capital Limited) in response to the significant changes in the performance of the SA Taxi
Group, SATDF is in the process of making and continues to make changes in the following aspects of its
business on an ongoing basis:

•     Working with funders to ensure that SATDF continues as a going concern and remains able to service
      the Transsec 5 book;

•     Adapting the origination, collections and write off policies to align with current market conditions and
      available funding for new originations which, in turn, may affect cash flows on the respective notes;

•     Modifying the approach to recovery of value on repossessed vehicles and the extent of cover on
      insurance policies;

•     Reducing costs within SATDF through mechanisms such as improved efficiencies, reductions in staff
      and/or the outsourcing of certain functions;

•     Securing of further funding runway through reinvestment of capital collected in refurbishing secondhand
      vehicles for resale or through potential external providers of additional liquidity while also aiming to
      achieve a longer-term restructuring of the business to ensure sustainable access to liquidity in future.

There is no certainty or assurance of the timing or outcome of the aforementioned ongoing business changes.
Noteholders are accordingly advised to act with caution when trading in the notes until a further announcement
is made.

Should you require further information, please contact Transsec 5.

10 October 2024

Debt Sponsor
The Standard Bank of South Africa Limited




Date: 10-10-2024 11:12:00
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