FIRSTRAND : BANK LIMITED - FRK01 - Finalisation Announcement in respect of the FRK01 Notes

FIRSTRAND BANK LIMITED - FRK01 - Finalisation Anno 6 Aug 2019 FRK01 201908060057A FRK01 - Finalisation Announcement in respect of the FRK01 Notes FirstRand Bank Limited (Incorporated in the Republic of South Africa) (Registration number: 1929/001225/06) JSE company code: FRD Alpha code: FRK01 ISIN: ZAE000193959 (FRB or the Issuer) FINALISATION ANNOUNCEMENT IN RESPECT OF THE FRK01 NOTES INTRODUCTION Further to the announcements released on 13 May 2019, 31 May 2019 and 5 June 2019 ('the Previous Announcements') by the Issuer, in respect of the election required by the holders ('FRK01 Noteholders') of the 139,620 One Ounce KrugerRand Notes due 12 August 2019 ('FRK01 Notes'), FRB would like to update the market with the following final details. CALCULATION OF INTEREST AMOUNT FRK01 Noteholders are advised that the cash value of the interest payment per FRK01 note is R 563.3544 (56335.44 cents). For those FRK01 Noteholders that elected cash settlement, the interest payment will be paid on Monday, 12 August 2019. For those FRK01 Noteholders who elected physical settlement, the number of Krugerrand coins in respect of the interest payment is 0.00, due to the interest amount being too small to pay out in Krugerrand coins. The Issuer therefore confirms that the cash value in respect of the full balance of the interest amount due, for those who elected physical settlement, is R 563.3544 (56335.44 cents) per FRK01 note and will be paid on Monday, 12 August 2019. CALCULATION OF CAPITAL AMOUNT FRK01 Noteholders are advised that the cash value of the capital payment per FRK01 note is R 22 538.50 (2253850.00 cents), which will be settled on Monday, 12 August 2019. REMINDER OF THE PHYSICAL SETTLEMENT COLLECTION PROCESS FRK01 Noteholders that have elected physical settlement in respect of the capital and interest payment due on the FRK01 Notes are reminded to follow the process outlined below: 1. Elect a courier company to act on the behalf of the FRK01 Noteholder to collect the Krugerrand coins due to such FRK01 Noteholder. FRK01 Noteholders are reminded that only one courier company from this list can be elected by the FRK01 Noteholder for the collection of their Krugerrand coins: - RAM Transport (South Africa) Proprietary Limited trading as RAM Hand?to?Hand Couriers; - G4S International Logistics (SA) (Pty) Ltd; or - Brink's (Southern Africa) Proprietary Limited. 2. Notify the chosen courier company that the Krugerrand coins are to be collected at the premises of Rand Refinery at Rand Refinery Road, Industries West, Germiston, Gauteng, South Africa. The Krugerrand coins can only be collected on Monday, 12 August 2019 between 08h00 and 15h00. The FRK01 Noteholder must make their own collection arrangements with the chosen courier company. 3. The FRK01 Noteholder should have notified the Issuer (by email to [e-mail]) of the following details by 17h00 on 5 August 2019: - FRK01 Noteholder full name; - the number of FRK01 Notes held; - the FRK01 Noteholder's CSDP; - the chosen courier company; and - provide a confirmation from the courier company (acting on behalf of the FRK01 Noteholder) that the Krugerrand coins will be collected on the collection day. FRK01 Noteholders are reminded that the Issuer will not be liable for non-delivery of the Krugerrand coins from the point at which these are collected by the chosen courier company at Rand Refinery's premises. Failure to strictly comply with the collection process outlined above, or to collect the Krugerrand coins as per point 2 above, will result in the Krugerrand coins in respect of the capital and interest payment due on the FRK01 Notes being sold. The cash value realised from the sale, less any costs incurred by the Issuer in the sale process, will be paid to the relevant FRK01 Noteholders by no later than 10h00 on Monday, 19 August 2019, in accordance with the terms and conditions of the FRK01 Notes. SALIENT DATES The salient dates contained in the Previous Announcements apply: Interest Payment Event Date Declaration announcement released and Notice sent by Strate to CSDPs: Monday, 13 May 2019 Record Date for receipt of the updated election notice: Friday, 24 May 2019 Updated market announcement released on: Friday, 31 May 2019 Updated Notice sent by Strate to CSDPs: Friday, 31 May 2019 Close of trade announcement released on: Wednesday, 5 June 2019 Last Day to Trade(See Note 1) by 17h00 on: Friday, 7 June 2019 Ex-date(See Note 1): Monday, 10 June 2019 Election period in respect of the interest payment commenced at 08h00 Monday, 10 June 2019 on: Suspension of trade in the FRK01 Notes until the maturity date: Monday, 10 June 2019 Election period in respect of the interest payment ended at 17h00 on: Wednesday, 12 June 2019 Record Date(See Note 1): Wednesday, 12 June 2019 Calculation of interest amount (for those FRK01 Noteholders that elected physical settlement, the number of Krugerrand coins and the cash value in respect of the balance of the interest amount and for those FRK01 Noteholders that elected cash settlement, the cash value of the interest amount) on: Tuesday, 6 August 2019 Finalisation announcement: Tuesday, 6 August 2019 A further physical settlement reminder announcement (See Note 2): Thursday, 8 August 2019 Interest payment date of the FRK01 Notes: Monday, 12 August 2019 Cash value of the interest amount paid to FRK01 Noteholders who elected cash settlement: Monday, 12 August 2019 Cash value of the remaining balance of the interest amount paid to FRK01 Noteholders who elected physical settlement or did not provide an election: Monday, 12 August 2019 Collection date in respect of those FRK01 Noteholders that elected physical settlement or did not make an election between 08h00 and 15h00 on: Monday, 12 August 2019 All Krugerrand coins in respect of the interest payment not collected to Tuesday, 13 August 2019 be sold by the Issuer with effect from 09h00 on: Cash value of Krugerrand coins in respect of the interest payment, less costs incurred by the Issuer in the sale process, to be paid to the relevant FRK01 Noteholder's account by no later than 10h00 on: Monday, 19 August 2019 Termination date of the FRK01 Notes: Tuesday, 20 August 2019 Capital Payment Event Date Declaration announcement released and Notice sent by Strate to CSDPs: Monday, 13 May 2019 Record Date for receipt of the updated election notice: Friday, 24 May 2019 Updated market announcement released on: Friday, 31 May 2019 Updated Notice sent by Strate to CSDPs: Friday, 31 May 2019 Close of trade announcement released on: Wednesday, 5 June 2019 Last Day to Trade(See Note 1) by 17h00 on: Friday, 7 June 2019 Ex-date(See Note 1): Monday, 10 June 2019 Election period in respect of the capital payment commenced at 08h00 Monday, 10 June 2019 on: Suspension of trade in the FRK01 Notes until the maturity date: Monday, 10 June 2019 Election period in respect of the capital payment ended at 17h00 on: Wednesday, 12 June 2019 Record Date(See Note 1): Wednesday, 12 June 2019 Calculation of the cash value of the capital payment on: Tuesday, 6 August 2019 Finalisation announcement: Tuesday, 6 August 2019 A further physical settlement reminder announcement(See Note 1): Thursday, 8 August 2019 Maturity date of the FRK01 Notes: Monday, 12 August 2019 Cash value of the capital payment made to FRK01 Noteholders who Monday, 12 August 2019 elected cash settlement: Collection date in respect of those FRK01 Noteholders that elected physical settlement or did not make an election between 08h00 and 15h00 on: Monday, 12 August 2019 All Krugerrand coins in respect of the capital payment not collected to be sold by the Issuer with effect from 09h00 on: Tuesday, 13 August 2019 Cash value of Krugerrand coins in respect of the capital payment, less costs incurred by the Issuer in the sale process, to be paid to the relevant FRK01 Noteholder's account by no later than 10h00 on: Monday, 19 August 2019 Termination date of the FRK01 Notes: Tuesday, 20 August 2019 Notes: 1. These dates pertain to the FRK01 Noteholders that will be eligible to submit their election notice and receive the interest and capital payment due on the FRK01 Notes. 2. An announcement reminding FRK01 Noteholders that non-collection of their Krugerrand coins on the collection date will result in the Krugerrand coins due to such FRK01 Noteholder being sold and the cash value less costs being paid to the FRK01 Noteholder. 6 August 2019 Debt Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 06/08/2019 05:20:00 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. 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