Sustainability linked bonds (RWL26 & RWL28) - availability of sustainability certificate:


Rand Water is established in terms of the Water Services Act 1997 (the "Act"). Through the Department of

Water and Sanitation and duly represented by the Minister of Water and Sanitation, the Government of the

Republic of South Africa is the sole shareholder of Rand Water. In terms of the Act, Rand Water's primary

activity is the provision of bulk water supply services (potable bulk water and sanitation services) within the

predetermined service area.

("Rand Water")

Bond Issuer Code: BIRW

Sustainability Linked Bonds (RWL26 & RWL28) - Availability of sustainability certificate

Noteholders are referred to Annexure A - additional terms and conditions contained in the applicable pricing

supplement relating to the RWL26 and RWL28 notes. Noteholder are further advised that the Sustainability

Certificate (as defined in the Applicable Pricing Supplements for RWL26 and RWL 28) which is accompanied

by the key performance indicator auditor's limited assurance report, is available on the Rand Water website at

The Sustainability Performance Targets for key performance indicator's (KPI's) Access to potable water and

Gender Equality were achieved. However, the Renewable Energy key performance indicator was not

satisfied. This is due to the challenges faced in respect of the conclusion of the award for the photovoltaic

tender, and Rand Water has since made necessary efforts within our supply chain management process

regarding the conclusion of this tender.

Accordingly, the step-down margin will not be applicable. The applicable margin for RWL26 will remain at

2.25%, and the interest rate for RWL28 will remain at 9.705%.

20 November 2023

Debt Sponsor

Nedbank Corporate Investment Banking, a division of Nedbank Limited

Rand Water information:

522 Impala Road, Glenvista, 2058, Johannesburg, Gauteng, South Africa

PO Box 1127, Johannesburg, 2000

For further information, please contact:

Lucky Ncobela, Debt Officer

083 212 0706

Date: 20-11-2023 05:30:00

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