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Financial Covenants Notification
Us Plus Limited
Incorporated in the Republic of South Africa
(Registration number 2014/048709/06)
Stock Code: USPJ01 ISIN Code: ZAG000207523
Stock Code: USPS01 ISIN Code: ZAG000207515
(“UsPlus” or “the Issuer”)
FINANCIAL COVENANTS NOTIFICATION
In accordance with clause 6.3 of the Amended Terms and Conditions Schedule of the Applicable Pricing
Supplements, holders of the USPJ01 and USPS01 listed notes are hereby advised that financial covenant
requirements, as measured against the three-month period ended 31 August 2026 (“Measurement Period”), are
as follows:
At Measurement
Covenant Requirement Period1
Debt to Equity Ratio Must be less than 4 times 1.79
Interest Cover Ratio Must be at least 1.5 3.72
Largest exposure of the Issuer to a single client Must not exceed 15% of the Total 5.53%
(In respect of the Issuer’s Current Financing Receivables
Products, and any new products)
Aggregate Receivables in respect of Purchase Must be less than 10% of the Total 4.36%
Orders Receivables from time to time
Unless expressly defined in this announcement, capitalised terms herein have the meaning ascribed to them in the
Applicable Pricing Supplements.
1Based on management accounts.
Johannesburg
21 September 2026
Debt Sponsor
Merchantec Capital
Date: 21/09/2026 08:30:00
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