ASHBURTON MANAGEMENT COMPANY RF (PTY) LIMITED - Distribution Finalisation Announcement

Distribution Finalisation Announcement

Ashburton Top 40 ETF
(Formerly RMB Top 40 Exchange Traded Fund)
A portfolio in the Ashburton Collective Investment Scheme (“the portfolio”) registered in terms of the
Collective Investment Schemes Control Act, 45 of 2002
(Incorporated in the Republic of South Africa)
(Date of incorporation: 15 October 2008)
Share Code: ASHT40
ISIN: ZAE000215364

DISTRIBUTION FINALISATION ANNOUNCEMENT

Following the previous announcement detailing a possible quarterly distribution by Ashburton Top 40 ETF
to holders of Ashburton Top 40 ETF Securities, the manager and trustees (namely ASHBURTON
Management Company RF (Proprietary) Limited and Standard Chartered Bank) have resolved to make a
quarterly distribution to holders of Ashburton Top 40 securities for the quarter ended 31 March 2016. The
distribution will amount to 28.02 cents (R0.2802) per Ashburton Top 40 security and is constituted as
follows:

Local dividend per security:

    -      Gross local dividend of 28.02 cents (R0.28020) per security to holders who are exempt from
           Dividends Tax
    -      Net local dividend of 23.8170 cents (R0.23817) per security to holders who are not exempt from
           Dividends Tax

Foreign dividend per security:

    -      No foreign dividends are included in the distribution for the period under consideration.

Payment will be effected on 11 April 2016 to all holders of Ashburton Top 40 ETF securities recorded in
the register on 08 April 2016.

Additional information:

The dividend distribution as outlined above is subject to the Dividends Tax that was introduced with effect
from 1 April 2012. The dividend, as defined in the Income Tax Act of 1962, is payable from dividends
accumulated in the fund. The South African Dividend Tax rate of 15% has been applied to both local and
foreign dividends.

There are 14,000,000 RMB Top 40 securities in issue. The total dividend amount payable is
R3,922,800.00.

Ashburton Top 40 ETF Income Tax number is 2144/830/14/4.

A copy of the ETF issue document can be found at http://www.ashburtoninvestments.com/za/individual-
investor/investment-range/exchange-traded-funds/ashburton-top-40-etf

01 April 2016
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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