IndluPropertyPartners(RF)Limited

Indlu Property Partners (RF) Limited ("the Issuer") is a newly established Single-Seller and Servicer Programme under which Indlu Living will look to place asset-backed transactions in the capital market. RMB acts as Sponsor and Arranger of the Programme.

Under its R 15 000 000 000 Asset Backed Securities Programme. The Issuer may from time to time issue limited, ring-fenced secured registered Notes denominated in South African Rand, on the terms and conditions contained in the section of the Programme Memorandum.

Each Transaction under the Programme is a distinct series entered into by the Issuer in connection with the issue of one or more Tranches of Notes and the acquisition of and/or investment in one or more Participating Assets referencing that series. Each Transaction will be serviced by the appointed Servicer for that transaction.