Distribution Finalisation Announcement – Quarter Ended 30 June 2016 - STX40 SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX 40 PORTFOLIO JSE code: STX40 ISIN code: ZAE000027108 ("Satrix 40") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 DISTRIBUTION FINALISATION ANNOUNCEMENT – QUARTER ENDED 30 JUNE 2016 The manager and trustees of the Satrix Collective Investment Scheme (being Satrix Managers (RF) (Pty) Limited and Standard Chartered Bank), respectively, have declared a distribution to holders of Satrix 40 securities recorded in the register on Friday, 24 June 2016 in respect of the quarter ended 30 June 2016 as follows: An aggregate amount of 36.08 cents (R0.3608) per Satrix 40 security constituted as follows: Net Local dividend per security (1) 21.74558 Dividend withholding tax on local dividend (15%) 3.83745 Net Foreign dividend per security (2) 5.33729 Dividend withholding tax on foreign dividend (15%) 0.94188 Foreign dividend (0% SA tax) (3) 1.02011 REIT dividend (4) 3.17015 Interest (positive cash balances) (a) 0.02754 TOTAL DISTRIBUTION 36.08000 a No withholding tax on interest is applicable as interest has solely been earned from a South African Bank. 1 NET LOCAL DIVIDEND Gross dividend (cents per security) 25.58303 Dividend withholding tax (15% on taxable dividend) - 3.83745 Net dividend per security 21.74558 2 NET FOREIGN DIVIDEND (Foreign-dual listed shares) Gross dividend (cents per security) 6.27917 Dividend withholding tax (15% on taxable dividend) - 0.94188 Net dividend per security 5.33729 3 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate) Gross dividend 1.46140 Foreign Dividends withholding tax (20%) - 0.29228 1.16912 Less portfolio costs - 0.14901 Distributable dividend 1.02011 SA Dividend withholding tax Gross dividend 1.46140 Less portfolio costs - 0.14901 1.31239 SA DWT 0.19686 SA tax 0.19686 cents (15%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N). 4 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate) Gross REIT dividend 3.17015 Dividend withholding tax (15% applicable to foreign holders - 0.47552 Net REIT dividend 2.69463 No dividend tax is applicable for SA resident securities holders on the REIT dividend. Dividend tax of 15% is applicable for non-resident shareholders on the REIT dividend. The dividend tax deducted will be paid as follows: 1. To the South African Revenue Service in respect of holders that are not exempt from dividends tax; 2. Holders that are exempt from dividends tax or holders qualifying for a reduced rate per Double Tax Agreement (“DTA”) will receive the appropriate dividend from their intermediary provided they have completed and lodged the relevant exemption or reduced rate prescribed application form timeously with their service provider. The responsibility to make such submissions is that of the security holder and failure to do so may result in dividends tax being deducted in full. The payment will be made by the relevant intermediary, being the Central Securities Depository Participant (“CSDP”) or Broker nominee company which is the final regulated intermediary in terms of the Income Tax Act. Payment will be effected on 22 July 2016 to all holders of Satrix 40 securities recorded in the register on Friday, 24 June 2016. The reason for a 2 week waiting period, from the date of this announcement for payments to be processed, is to accommodate market participants in the switch over from a T+5 to a T+3 settlement cycle. 8 July 2016 Sponsor: Vunani Corporate Finance Date: 08/07/2016 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.