Listing of New Notes

The Republic of Zambia
acting through the Ministry of Finance and National Planning ("Zambia")

Further to Zambia's successfully completion of its mandatory exchange (the "Exchange") of its U.S.$3 billion in outstanding Eurobonds (the "Existing Notes"), for U.S.$1,364,725,564 fixed rate step-up amortising Notes due 2033 (the "New A Notes") and U.S.$1,364,725,564 fixed rate step-up amortising Notes due 2053 (the "New B Notes", together with the New Notes A, the "New Notes"), as of 17 July 2024, each of the New A Notes and the New B Notes have been listed on the Official List of the UK Financial Conduct Authority and admitted to trading on the Main Market of the London Stock Exchange.

The fiscal agency agreements for each of the New A Notes and the New B Notes, which contain the terms and conditions of the relevant series of New Notes, have been published on the Issuer's website at

https://www.mofnp.gov.zm/?wpdmpro=fiscal-agency-agreement-new-a-notes-executed and

https://www.mofnp.gov.zm/?wpdmpro=fiscal-agency-agreement-new-b-notes-executed, respectively.

Disclaimer - Intended Addressees

This announcement is released by The Republic of Zambia, acting through the Ministry of Finance and National Planning, and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, encompassing information relating to the Exchange described above.