ABSA GROUP LIMITED - ABSA GROUP LIMITED AND ABSA BANK LIMITED - NOTICE TO NOTEHOLDERS REGARDING THE TRANSITION FROM JIBAR TO ZARONIA

What this filing means

Absa Group and Absa Bank are notifying noteholders that their JIBAR-linked notes will be transitioned to ZARONIA once the enabling legislation takes effect, using the JSE's legislative transition pathway that dispenses with the need for noteholder consent. No investor action is required, the timing is tied to future interest payment dates, and the implementation remains subject to the final legislative and regulatory framework — this is a procedural benchmark switch, not a financing event.

Absa is switching the interest-rate benchmark on its notes from the old JIBAR rate to the new ZARONIA rate, following SARB's recommended market convention. Investors holding these notes do not need to do anything — the change will happen automatically when the legislation is finalised and will show up in the JSE conversion spreadsheet on the relevant interest payment dates. There is no new money being raised, no change to the notes' economics other than the benchmark reference, and no impact on Absa's earnings or capital position disclosed here.