Update on interest payments The Land and Agricultural Development Bank of South Africa (JSE Code: BILB) (“Land Bank” or “the Issuer”) Interest Payments In the SENS announcement dated 19 May 2020, the Land Bank indicated that it is experiencing liquidity challenges. The Land Bank continues to work towards putting in place a solution to its liquidity requirements. In the circumstances, the Land Bank confirms that it will not be in a position to proceed with the interest payments due between the date of this announcement and 09 June 2020 in respect of notes issued in accordance with the Terms and Conditions of the Land Bank’s JSE- listed ZAR30 billion DMTN Programme dated 13 March 2017 (the “2017 Programme”). Such failure to pay will, subject to the terms of the 2017 Programme, constitute an event of default under Condition 16 (Events of Default) of the terms and conditions of the notes. The following notes are affected: Bond ISIN No Scheduled Interest Interest Payment Payment Code Payment Date Payment Rate Type Amount (R) LBK22 ZAG000146317 04-June-2020 8.058% Interest 11,536,406.79 LBK23 ZAG000146325 05-June-2020 8.742% Interest 13,463,159.01 LBK33 ZAG000155953 08-June-2020 8.675% Interest 16,221,061.64 LBK20 ZAG000144627 08-June-2020 10.200% Interest 40,433,917.81 LBK29 ZAG000151853 08-June-2020 9.715% Interest 37,700,055.62 The Land Bank will make further announcements in respect of interest and principal payments falling due after 08 June 2020 in due course. 01 June 2020 Enquiries Land and Agricultural Development Bank of South Africa Ayanda Kanana, Chief Executive Officer Khensani Mukhari, Chief Financial Officer Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833 2 Debt Sponsor The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division (registration number: 1962/000738/06) Contacts: Ms Natalie Di-Sante Email: Natalie.di-sante@standardbank.co.za Tel: +27 (0) 11 721 6125 Date: 01-06-2020 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.