Extraordinary Fund Event BNP Paribas Arbitrage Issuance B.V. Dated: 28 December 2015 Stock Code: BNPASI ISIN Code: ZAE000188348 Notice of Extraordinary Fund Event Notice to Holders of ZAR 5,000,000,000 Fund Securities due 4 March 2019, Series CE1047BRD issued by BNP Paribas Arbitrage Issuance B.V. (the “Issuer”) and guaranteed by BNP Paribas under the Note, Warrant and Certificate Programme (the “Certificates”) We refer to the Certificates and the Pricing Supplement of the Certificates dated 18 February 2014 (the “Pricing Supplement”) documented under the Issuer’s Note, Warrant and Certificate Programme pursuant to a base prospectus dated 3 June 2013 as supplemented from time to time (the “Base Prospectus”) read together with the JSE Placement Document dated 21 November 2013. Notice is hereby given of the following Extraordinary Fund Event in respect of the Certificates. BNP Paribas Arbitrage S.N.C., in its capacity as Calculation Agent in connection with the Certificates wishes to advise holders of the Certificates that with effect from 19 November 2015, the THEAM Quant GURU Asia Equity Fund (ISIN: FR0011067065) (the “Affected Fund”) has merged into the THEAM Equity Asia GURU Fund (ISIN: LU1235110779) (the “Replacement Fund”). This constitutes an “Extraordinary Fund Event”, as described in Condition 2.2 “Extraordinary Fund Events” of Annex 9 “Additional Terms and Conditions for Fund Securities” (“Annex 9”) of the Base Prospectus. The Issuer has determined that the action to take in respect of this Extraordinary Fund Event is “Substitution” as set out in Condition 4 “Consequences of an Extraordinary Fund Event” of Annex 9 of the Base Prospectus. As a consequence of such Substitution and in accordance with Condition 4 of Annex 9 of the Base Prospectus, the Calculation Agent has determined that the Affected Fund will be replaced by the Replacement Fund. No further adjustments of the Terms and Conditions of the Certificates shall be made. Copies of the documentation referred to above is available upon request from the Calculation Agent. Capitalised terms not otherwise defined herein shall have the meanings given to them in the Pricing Supplement and the Base Prospectus. This notice shall be governed and construed in accordance with the laws of England and nothing in this notice shall be construed as a waiver of any rights we may have with respect to the Certificates. For further information on the Securities issued please contact: Michael Schneider BNP Tel:(+33)140 1496 15 Debt Sponsor: The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division Date: 28/12/2015 10:35:00 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.