SENS

KCCGLD - Market Updated Announcement in respect of the Election Required by Holders of the KCCs:

FirstRand Bank Limited

(Incorporated in the Republic of South Africa)

(Registration No. 1929/001225/06)

Issuer code: FRLE

LEI: ZAYQDKTCATIXF9OQY690

Alpha code: KCCGLD

ISIN: ZAE000195830

(FRB)

NOTICE TO KCCGLD HOLDERS: MARKET UPDATED ANNOUNCEMENT IN RESPECT OF THE

ELECTION REQUIRED BY HOLDERS OF THE KCCGLD CUSTODIAL CERTIFICATES AND THE

AMENDED SALIENT DATES

A) REMINDER IN RESPECT OF THE ELECTION REQUIRED BY HOLDERS

Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed thereto

in the Terms and Conditions of Issuer's offering circular dated 21 October 2014, as amended from time

to time (the Offering Circular).

1. Further to the announcement released on JSE's Stock Exchange News Service (SENS) on 30

September 2024, FirstRand Bank Limited (FRB or the Issuer) wishes to remind security holders of

the KCCGLD Custodial Certificates (Holders) due 11 November 2024 (Maturity Date), listed on the

"Exchange Traded Funds" sector of the JSE Limited (JSE) issued under the Offering Circular,

(KCCs) of their election between:

i) Cash settlement in respect of the KCCs. This will entail the disposal by the Issuer of the Holder's

Allocated Krugerrand on behalf of the Holder and the cash value will be determined as

contemplated in clause 14.4 of the Offering Circular. The cash value will be calculated on Tuesday,

22 October 2024 and announced on the SENS by 11h00 on Thursday, 24 October 2024 (the

Finalisation Date); or

ii) Physical settlement in respect of the KCCs by way of Collection of the Holder's Allocated

Krugerrand from the Custodian. This will entail the collection of an Allocated Krugerrand by the

Holder from the Custodian following on from the delisting and surrender of the Holder's KCC, in

accordance with the physical settlement collection process detailed in paragraph (D) below.

2. The Holder's election must be provided together with any confirmations or other documentation

required pursuant to the terms and conditions of the KCCs to the Holder's Central Securities

Depositary Participant (CSDP) during the period Tuesday, 1 October 2024 08h00 to Friday, 11

October 2024 17h00 (Revised Election Period).

3. Any election received outside of the Revised Election Period will not be considered. In addition,

failure to provide an election will be deemed an election for cash settlement, in accordance with

paragraph A(1)(i) above.

4. This notice (Notice) has been submitted to Strate Proprietary Limited (Strate) for dissemination by

them to the relevant CSDPs. If Noteholders have not received the Notice from their CSDP, such

Holders are requested to contact their CSDP in this regard.

B) CASH SETTLEMENT OF KCCs

The cash settlement amount will be determined on Tuesday, 22 October 2024, as per the terms and

conditions of the KCCs, and a SENS announcement confirming the cash value of the Settlement

Amount will be released by 11h00 on the Finalisation Date.

Payment of the cash value will be made on Monday, 11 November 2024.

C) PHYSICAL SETTLEMENT COLLECTION PROCESS

1. Holders that elect physical settlement of the Allocated Krugerrand coins must follow the process

outlined below:

(a) The Holder must collect their Allocated Krugerrand coins from the Custodian, Brink's (Southern

Africa) Proprietary Limited during the period Wednesday, 16 October 2024 08h00 to Friday, 18

October 2024 17h00 (the Collection Period).

(b) The Holder must surrender the Holder's KCC to the Issuer or its agent.

(c) The Allocated Krugerrand coins can only be collected between the Collection Period. The Holder

must make their own collection arrangements with the Custodian.

(d) The Holder must notify the Issuer (by email to DLRMBMETRADING@rmb.co.za) of the following

details:

* the Holder's full name;

* the number of KCCs held;

* the Holder's CSDP;

* the chosen courier company;

* provide a confirmation from the courier company (acting on behalf of the Noteholder) that the

Krugerrand coins will be collected during the Collection Period; and

* Any other documentation which may be required at the time of collection.

This notification must be provided to the Issuer by no later than 17h00 on Tuesday, 15 October

2024.

2. The Issuer will not be liable for non-delivery of the Allocated Krugerrand coins from the point at

which these are collected by the chosen courier company at the Custodian's premises.

3. Failure to strictly comply with the collection process outlined above, or to collect the Allocated

Krugerrand coins as per paragraph D(1)(c) above, will result in the Allocated Krugerrand coins

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 Holder by no later than 10h00 on Monday, 11 November 2024.

D) AMENDED SALIENT DATES

FRB wishes to inform the KCC Holders that the dates pertaining to the election period end date and the

date on which the Holders are to provide their details for the physical redemption have been extended.

The amended salient dates surrounding the election and settlement of the KCCs are as follows:

Election: Capital payment in cash or physical collection of the

Allocated Krugerrand Coins

Timetable Dates

Market update announcement Friday, 04 October 2024

Record date for the receipt of this updated Friday, 27 September 2024

notice

No trade announcement release date Monday, 30 September 2024

Last day to trade by 17h00 on Tuesday, 1 October 2024

Election period in respect of the capital Tuesday, 1 October 2024

payment begins by 08h00 on

Suspension of trade in KCCGLD securities until Wednesday, 2 October 2024

the maturity

Record date Friday, 4 October 2024

Election period in respect of the capital Friday, 11 October 2024

payment ends by 17h00 on

Holder to provide their details for the physical Tuesday, 15 October 2024

redemption process by 17h00 on

Collection date in respect of the Kruger coins Wednesday, 16 October 2024

for those KCCGLD holders that elected

physical settlement begins by 08h00 on

Collection date in respect of the Kruger coins Friday, 18 October 2024

for those KCCGLD holders that elected

physical settlement ends by 17h00 on

Calculation of the cash value payable on the Tuesday, 22 October 2024

maturity date for those Holders that have

elected cash or have not collected the Kruger

coins

Cash value announcement date Thursday, 24 October 2024

Capital payment of the KCCGLD securities for Monday, 11 November 2024

those Holders that have elected cash or have

not collected the Kruger coins

Maturity date for the KCCGLD securities Monday, 11 November 2024

Termination date for the KCCGLD securities Tuesday, 12 November 2024

The issuer will communicate its election to roll or not to roll the KCC's in accordance with the provisions

of the Offering Circular and finalise the corporate actions table on or about Monday, 7 October 2024.

Sandton

4 October 2024

Debt sponsor

Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 04-10-2024 02:20:00

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