SCIB: Adjustments to the T's & C's of the Billiton PLC Share Instalm - BILSTL/BILSTM The Standard Bank of South Africa Limited ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK BHP BILLITON PLC SHARE INSTALMENTS Following the BHP Billiton PLC (“BIL”) announcement on 7 th May 2015 regarding the demerger dividend, BIL will unbundle its interest in South 32 Limited (“S32”) to Shareholders. Each Shareholder will receive one S32 share for each BIL share held. Following this announcement, notice is hereby given that the Issuer will amend the Terms and Conditions of the share instalments. Share instalment holders will not receive any shares but the value of the S32 shares will be used to adjust the exercise (final instalment price) of the share instalments to place the holders in the same financial position they were prior to the unbundling ex-date. The following share instalments will be affected by this corporate action: Existing Terms JSE Code Exercise Conversion Expiry Exercise Style ISIN Price Ratio ZAE000196168 BILSTL R240.00 1:1 07-Oct-15 American Call ZAE000200788 BILSTM R180.00 1:1 03-Feb-16 American Call New Terms JSE Code Exercise Conversion Expiry Exercise Style ISIN Price Ratio ZAE000196168 BILSTL R219.79 1:1 07-Oct-15 American Call ZAE000200788 BILSTM R159.76 1:1 03-Feb-16 American Call The Effective Date of the adjustment shall be at close of business on the 18th May 2015. The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the above-mentioned share instalments. This Notice together with the Common Terms Document and Conditions Annexure record the terms and conditions of the agreement between the Parties. Any terms used in this Notice which are defined in the Common Terms Document, Conditions Annexure and the relevant Supplements shall bear the meaning ascribed to them therein, unless specifically stated otherwise herein. Other than as set out herein, the terms and conditions set out in the Common Terms Document, Conditions Annexure and relevant Supplements remain unchanged and in full force and effect. Please note that Share Instalments are subject to selling restrictions and prospective purchases are referred to the relevant Conditions Annexure for details of such restrictions. 19-May-2015 Date: 19/05/2015 11:00:00 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.