The Standard Bank of South Africa Limited
Financial Instrument Redemption Announcement - “SBRN02”

Stock Code: SBRN02
ISIN Code: ZAE000286480

Final Redemption

Holders of the listed SBRN02 Equity Index Linked Notes (“the
Notes”) which are redeeming on 20 October 2023 are reminded
that:

Last Date to Trade:                 Wednesday, 04 October 2023
Suspension Date:                    Thursday, 05 October 2023
Record Date:                        Monday, 09 October 2023
Closing date for elections:         Monday, 09 October 2023
Valuation Date for SBRN02 Notes:    Tuesday, 10 October 2023
Valuation Time:                     The time the Index Level is
                                    published on the Valuation
                                    Date
Maturity Date, that is either the
Payment Date or Delivery Date:      Friday, 20 October 2023
De-Listing Date:                    Monday, 23 October 2023

Before or latest 12:00 on Monday, 09 October 2023 (“the Closing
Date for Elections”), holders of the SBRN02 Notes must elect
which one of the options below they wish to follow. Holders of
the SBRN02 Notes may either contact their financial advisors and
request their financial advisors to inform Standard Bank through
their standing communication channels about their clients’
elections or the holders may elect themselves digitally via
their broker’s CSDP which of the following options they wish to
follow:

  1. Option 1: A holder of the SBRN02 Notes may elect not to
     follow Option 2 or Option 3 below, but rather to roll the
     investment into new Market Multiplier Notes (“SBRN46
     Notes”). The Final Level of the Index linked to SBRN02
     Notes will be determined on the Valuation Date (Tuesday,
     10 October 2023), but due to the difference in time zones,
     holders of the Notes will be informed on Wednesday, 11
     October 2023 what the final redemption value of each SBRN02
     Note is. The level of the Index to which the SBRN46 Notes
     are linked will be determined on the Thursday, 12 October
     2023 (“Initial Index Level Determination Date for SBRN46
     Notes). The SBRN46 Notes will be issued on 20 October 2023
     and will be delivered to the relevant holders which have
     elected Option 1 within one week after the issuing of the
     SBRN46 Notes.
  2. Option 2: A holder of the SBRN02 Notes may elect to receive
     delivery of the ETFs which the relevant holder bought on
     the Trade Date of the SBRN02 Notes adjusted to be equal to
     the redemption value of the SBRN02 Notes, determined as set
     out above. The ETFs will be delivered to such holder on 20
     October 2023 (“the Maturity Date”).

  3. Option 3: A holder of the SBRN02 Notes may elect not to
     roll the investment into SBRN46 Notes (that is, not to
     follow Option 1) or not to receive delivery of the ETFs on
     the Maturity Date (that is, not to follow Option 2), but
     may elect to rather instruct Standard Bank to sell the ETFs
     on behalf of the holder of the SBRN02 Notes and pay the
     redemption amount of such sale of the ETFs to the holder
     of the SBRN02 Notes on 20 October 2023 (“the Maturity
     Date”) to the account of the relevant holder. If Standard
     Bank receives no notice from either the holder’s
     Independent Financial Advisor or the holder does not
     digitally elect before or on 12:00 on Monday 09 October
     2023 either Option 1 or Option 2, Standard Bank will assume
     that the holder had elected Option 3 (which is the default
     election) that is, that the holder had instructed Standard
     Bank to sell the ETFs on behalf of such holder and make
     payment of the proceeds of the sale of such ETFs to the
     account of such holder on 20 October 2023 (“the Maturity
     Date”).

    After the issue and delivery of the SBRN46 Notes (Option
    1) or delivery of the ETFs (Option 2) or payment of the
    sale proceeds of the ETFs (Option 3) on 20 October 2023,
    the SBRN02 Notes will be de-listed from the JSE on Monday,
    23 October 2023.



Dated: 27 September 2023
Sponsor – The Standard Bank of South Africa Limited
For further information on the Notes issued please contact:
Johann Erasmus           SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za