OFFICIAL DOCUMENTS LOAN NUMBER 8686-ZA Guarantee Agreement (Land Bank Financial Intermediation Project) between REPUBLIC OF SOUTH AFRICA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated ,2017 LOAN NUMBER 8686-ZA GUARANTEE AGREEMENT AGREEMENT, dated M 4iAj 1I , 2017, entered into between REPUBLIC OF SOUTH AFRICA ("Guarantor") and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT ("Bank") ("Guarantee Agreement") in connection with the Loan Agreement of same date between the Bank and Land and Agricultural Development Bank of South Africa ("Borrower") ("Loan Agreement"). The Guarantor and the Bank hereby agree as follows: ARTICLE I - GENERAL CONDITIONS; DEFINITIONS Section 1.01. The General Conditions (as defined in the Appendix to the Loan Agreement) constitute an integral part of this Agreement. Section 1.02. Unless the context requires otherwise, the capitalized terms used in this Agreement have the meanings ascribed to them in the General Conditions or in the Loan Agreement. ARTICLE Il -GUARANTEE; PROVISION OF FUNDS Section 2.01. The Guarantor declares its commitment to the objectives of the Project. To this end, without limitation or restriction upon any of its other obligations under the Guarantee Agreement, the Guarantor hereby unconditionally guarantees, as primary obligor and not as surety merely, the due and punctual payment of all Loan Payments payable by the Borrower pursuant to the Loan Agreement, and the punctual performance of all the other obligations of the Borrower set forth or referred to in the Loan Agreement. ARTICLE III -REPRESENTATIVE; ADDRESSES Section 3.01. The Guarantor's Representative is the Minister of Finance of the Guarantor or such other person as the Minister may in writing designate as the authorized representative of the Guarantor for the purpose of Section 10.02 of the General Conditions. Section 3.02. The Guarantor's Address is: Ministry of Finance National Treasury 40 Church Square Pretoria, 0001 REPUBLIC OF SOUTH AFRICA -2- Cable address: Facsimile: (27) 12 315 5111 (27) 12 315 5045 Section 3.03. The Bank's Address is: International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Cable: Telex: Facsimile: INTBAFRAD 248423 (MCI) or (202) 477-6391 Washington, D.C. 64145 (MCI) -3- AGREED at th.jIW,_O___1 16A as of the day and year first above written. REPUBLIC OF SOUTH AFRIC By u -horize fepresentative Name: PALUsI G 3iG A Title: M StF4 I&F INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By Authorized Representative Name: Title: