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Voluntary Announcement: Social Bond Post-Issuance Assurance Statement and Social & Environmental Rating
Us Plus Limited
(Incorporated with limited liability in South Africa under registration number 2014/048709/06)
Alpha Code: USPI
("UsPlus" or "the Company")
Voluntary Announcement: Social Bond Post-Issuance Assurance Statement and Social & Environmental Rating
Further to the announcement released on SENS on 2 August 2024 regarding the listing of UsPlus' Senior
Unsecured Floating Rate Instalment Notes, USP01, intended to be issued as Sustainability Use of Proceed
Bonds, the board of directors of UsPlus ("Board") hereby advises that the Company engaged IBIS
Environmental Social Governance Consulting Africa (Pty) Ltd ("SLR") to perform a limited post-issuance
assurance engagement to evaluate (i) whether the Company's Social Bond issuance aligns with the
commitments outlined in UsPlus' Social Bond Framework ("Framework") dated July 2024; and (ii) to verify the
accuracy and completeness of the Company's Allocation and Impact Reporting.
As set out in Schedule 1 of the USP01 Applicable Pricing Supplement, 'Use of Proceeds – Sustainability Use of
Proceeds Bond Provisions and Information', the Framework is available on the Issuer's website:
https://www.usplus.world/social-bond.
SLR has concluded that the information supplied by UsPlus is sufficient to support its limited assurance opinion.
Nothing in SLR's review indicates that UsPlus' post-issuance disclosures are unfairly or inaccurately presented,
and the USPS01 issuance is confirmed to be aligned with the Social Bond Principles (June 2025), International
Capital Market Association (ICMA's) Harmonised Framework for Impact Reporting (June 2025), the
commitments stated in UsPlus' Bond Framework (2024), and alignment with the requirements of section 6.80(b)
of the JSE Debt and Specialist Securities Listings Requirements.
Additionally, the Company engaged MFR, a global rating agency, providing assessments, data and technical
expertise for the sustainable finance industry, to issue a Social and Environmental Rating Report of UsPlus
("Report"). MFR's Social and Environmental Rating Committee has assigned the sBB grade rating to UsPlus
based on the Social and Environmental Rating scale adopted by MFR. This rating represents adequate social
performance management and client protection systems, and satisfactory alignment to the mission.
SLR's Social Bond Post-Issuance Assurance Statement, and the executive summary of MFR's Report and
rating certificate, are available on the Issuer's website: https://www.usplus.world/social-bond.
Johannesburg
20 January 2026
Debt Sponsor
Merchantec Capital
Date: 20-01-2026 02:42:00
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