Clarification notice: Rounding methodology CoreShares Global Investments PCC CoreShares Global Prop Share code: GLPROP ISIN: MU0518N00038 The CoreShares S&P Global Property Exchange Traded Fund (“CoreShares Global Prop”) portfolio, a portfolio in CoreShares Global Investments PCC (A Mauritius protected cell public company limited by shares). The Fund is an approved Foreign Collective Investment Scheme in terms of Section 65 of the Collective Investment Scheme Control Act 2002. The Fund is managed by CoreShares ETF Manager Limited (“CEM” or “the Manager”) and is further represented in South Africa by CoreShares Index Tracker Managers RF (Pty) Ltd. Clarification notice: Rounding methodology Investors are referred to the SENS published earlier today in relation to the conversion of Letters of Allotment (LAs) to Exchange Traded Fund (ETF) securities in accordance with the conversion ratio. For the sake of clarity, the Issuer is unable to issue partial securities to participants in the book build and accordingly applications by the CSD participants shall be rounded down to the nearest whole share or security and the Rand balance shall be refunded. Worked example LA's issued 1 000 Example Conversion ratio 0.02906 As communicated Issue Price R 34.41 As communicated Securities issued (LA * Conversion ratio) 1000*0.02906 29.06 Unrounded 29.00 Rounded Difference 0.06 Amount refunded to client/CSD (Difference * Issue Price) 0.06 * 34.41 R 2.06 2 November 2016 Corporate advisor and sponsor: Grindrod Bank Limited Date: 02/11/2016 04:30:00 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.