Capitec Bank Limited (The Wholly Owned Subsidiary Of Capitec Bank Holdings Limited) Credit Ratings Affirmed And Outl Capitec Bank Holdings Limited Registration number 1999/025903/06 Registered bank controlling company Incorporated in the Republic of South Africa JSE ordinary share code: CPI ISIN code: ZAE000035861 JSE preference share code: CPIP ISIN code: ZAE000083838 ("Capitec" or "the company") Capitec Bank Limited Incorporated in the Republic of South Africa Registration No. 1980/003695/06 Company code: BICAP Stock Code: CBL20 ISIN Code: ZAG000102245 Stock Code: CBL22 ISIN Code: ZAG000105305 Stock Code: CBL24 ISIN Code: ZAG000130881 Stock Code: CBL26 ISIN Code: ZAG000136128 Stock Code: CBL27 ISIN Code: ZAG000143884 Stock Code: CBL28 ISIN Code: ZAG000151333 Stock Code: CBL29 ISIN Code: ZAG000158874 (“Capitec Bank” or “the bank”) CAPITEC BANK LIMITED (THE WHOLLY OWNED SUBSIDIARY OF CAPITEC BANK HOLDINGS LIMITED) CREDIT RATINGS AFFIRMED AND OUTLOOK CHANGED On 22 November 2019, S&P Global Ratings (“S&P”) revised its outlook on South Africa to negative on weakening fiscal and debt trajectory and sizable contingent liabilities. S&P’s policy is to not rate financial institutions in South Africa above the foreign currency long term sovereign ratings, of ‘BB’ and short term ratings of ‘B' due to the direct and indirect impacts a sovereign distress would have on South African banks' operations. Capitec Bank’s credit ratings’ outlook has therefore been revised to negative from stable on 26 November 2019. Simultaneously, S&P affirmed the global and national scale ratings of Capitec Bank. The global long term ratings remain ‘BB’ and the global short term ratings ‘B'. The national scale long term ratings are affirmed as 'zaAA’ and the national short term ratings ‘zaA-1+'. 27 November 2019 Stellenbosch Sponsor PSG Capital Date: 27-11-2019 08:00:00 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.