Distribution Announcement - Six Months Ended 31 December 2014 - DBXJP db x-trackers MSCI Japan Index ETF JSE code: DBXJP ISIN: ZAE000115176 (“dbx Japan”) A portfolio in the db x-trackers Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. DISTRIBUTION ANNOUNCEMENT – SIX MONTHS ENDED 31 DECEMBER 2014 The manager and trustee have resolved to make a distribution to holders of dbx Japan securities recorded in the register on Wednesday, 24 December 2014 in respect of the six months ended 31 December 2014. Details of the distribution are set out below: - The net distribution payable to holders will be an amount in ZAR equivalent to JPY 0.27135 (twenty seven point one three five sen) per Japan security (the “JPY distribution amount”). - The JPY distribution amount will be converted to ZAR at the exchange rate prevailing on or about Wednesday, 21 January 2015, details of which will be released on SENS on or about Thursday, 22 January 2015. - The distribution will be paid to holders on or about Tuesday, 27 January 2015. The JPY distribution amount (which represents a pro rata portion of the distributable income of the portfolio) has been calculated after deduction of any foreign withholding tax payable by db x- trackers on dividends. Foreign withholding tax as a percentage of gross foreign dividends is equal to 15.31%. The JPY distribution amount of JPY 0.27135 per dbx Japan security is calculated as follows: - Gross foreign dividends of JPY 0.71871 (seventy one point eight seven one sen); - Less: Foreign Withholding tax of JPY 0.11007 (eleven point zero zero seven sen); - Plus: Interest of JPY 0.00002 (zero point zero zero two sen); - Less: Management fee of JPY 0.33731 (thirty three point seven three one sen). All income derived is foreign in nature. The information set out above is published for information purposes only. Holders should contact their tax advisers with regard to the applicable tax treatment of the JPY distribution amount and the withholding tax. 19 January 2015 Manager db x-trackers (Proprietary) Limited Trustee The Standard Bank of South Africa Limited Sponsor Vunani Corporate Finance Date: 19/01/2015 04:56:00 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.