Capitec Bank: issuer credit ratings affirmed and stand-alone credit profile raised Capitec Bank Holdings Limited Registration number 1999/025903/06 Incorporated in the Republic of South Africa Registered bank controlling company JSE ordinary share code: CPI ISIN code: ZAE000035861 JSE preference share code: CPIP ISIN code: ZAE000083838 ("Capitec") Capitec Bank Limited Registration number 1980/003695/06 Incorporated in the Republic of South Africa Registered bank Company code: BICAP ("Capitec Bank") CAPITEC BANK (THE WHOLLY OWNED SUBSIDIARY OF CAPITEC): ISSUER CREDIT RATINGS AFFIRMED AND STAND-ALONE CREDIT PROFILE ("SACP") RAISED On 28 May 2024, S&P Global Ratings ("S&P") affirmed Capitec Bank's global scale issuer ratings of 'BB-/B' along with the South Africa national scale ratings of 'zaAA/zaA-1+'. The outlook remains stable, reflective of the South African ratings. S&P raised Capitec Bank's SACP by one notch from "bb" to "bb+" following their positive assessment of Capitec Bank's business profile. Their improved rating is based on Capitec's continued diversification of revenue through increased product offerings and target markets via the new business banking and retail insurance divisions. S&P noted that transaction income, funeral insurance, business banking and value-added services contributed 62% to operating income in February 2024, up from 24% in August 2017 and commented that this "maintains revenue growth and earnings stability during economic downturns". S&P advised that Capitec Bank's ratings would be lowered or raised over the next 12 months in line with action taken on the sovereign's ratings. 30 May 2024 Stellenbosch Capitec Equity Sponsor: PSG Capital Proprietary Limited Capitec Bank Debt Sponsor: PSG Capital Proprietary Limited Date: 30-05-2024 10:30:00 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.