Credit Rating Announcement - Transnet SOC Limited TRANSNET SOC Limited Issuer Code: BITRA (“TRANSNET”) Credit Rating Announcement Fitch Ratings (“Fitch”) downgrades Transnet SOC Ltd long term local and foreign currency Issuer Default Ratings (IDR) to 'BB-' from 'BB' with a negative outlook in line with the downgrade on the Sovereign IDR on 20 November 2020 Transnet notes that on the 26 February 2020, Fitch downgraded Transnet’s IDR to 'BB-' from 'BB'. The rating action followed Fitch’s downgrade of the sovereign’s IDR to 'BB' with a negative outlook dated 20 November 2020. Fitch performs unsolicited ratings on Transnet. Transnet is wholly owned by the Government of the Republic of South Africa and under the Government-Related Entity (GRE) methodology applied by Fitch, Transnet cannot be rated higher than the Sovereign. Fitch has also downgraded Transnet’s Standalone Credit Profile (SCP) to 'bb' from 'bbb-' as well as the senior unsecured rating to 'BB-' from 'BB'. For a detailed analysis of the rating, please refer to the following link: https://www.transnet.net/InvestorRelations/SENS Announcements/Fitch Downgrades Transnet SOC Ltd's IDR to 'BB-'; Outlook Negative.pdf 1 March 2021 Debt Sponsor The Standard Bank Limited Date: 01-03-2021 09:10:00 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.