NewFunds - Changes to the Board of Directors NEWFUNDS (PROPRIETARY) LIMITED (Registration number 2005/034899/07) (“NewFunds” or “the Company”) JSE Share Code: ISIN: NEWFSA ZAE000104055 RAFFIN ZAE000134979 RAFIND ZAE000135182 RAFISA ZAE000117149 RAFRES ZAE000135166 NFSH40 ZAE000130431 MAPPSG ZAE000153763 MAPPSP ZAE000153771 NFGOVI ZAE000161949 NFILBI ZAE000162244 NFTRCI ZAE000162251 NFSWIX ZAE000163754 NFEMOM ZAE000162236 (“the Portfolios”) The Portfolios in the NewFunds Collective Investment Scheme in Securities (the “NFCIS”), registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. CHANGES TO THE BOARD OF DIRECTORS In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited (“JSE”), and subject to the approval of the Financial Services Board (“FSB”), the board of directors of NewFunds (the “Board”) hereby notifies its securities holders that Dr. Vladimir Nedeljkovic (“Vlad”) has resigned as executive director from the board of the management company of NFCIS, NewFunds, to pursue other business interests. Vlad has served on the Board since 26 June 2012 and has played a key role in the development of the exchange-traded funds (“ETF”) market in South Africa as the head of the business area tasked with originating and managing Absa Bank Limited’s (“Absa Bank”) ETF offering. He was instrumental in establishing the NewFunds Collective Investment Scheme, as well as in the listing of Absa Bank’s commodity ETF offering in South Africa and other African jurisdictions. Vlad will continue to serve on the Board until 31 January 2015 when his resignation becomes effective, to ensure an orderly and phased handover of his responsibilities. NewFunds has benefited greatly from his commitment and expertise and the Board wishes to thank Vlad for his invaluable contribution during his tenure. Mr Wayne Dennehy (“Wayne”) will replace Vlad and will be appointed to the Board as a non- executive director with effect from 1 December 2014. Wayne had management responsibility for the Absa Bank ETF business from January 2009 through to January 2013 before he was tasked to assist in establishing the structuring business at Absa Bank. Wayne has more than 21 years’ experience in financial markets, has a BSc(Hons) in actuarial science and is a fellow of the Institute of Actuaries. Wayne is currently the Head of Inflation Products and Quantitative Analytics at Absa Bank having joined the bank in 2007. Prior to that, Wayne worked for eleven years as a pension fund actuary and asset consultant followed by four years as an inflation trader, The Board welcomes Wayne to NewFunds and looks forward to his contribution. 21 November 2014 Sponsor Absa Bank Limited (acting through its Corporate and Investment Banking division) Date: 21/11/2014 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.