Distribution Finalisation Annoncement – Quarter Ended 31 December 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 31 DECEMBER 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, 30 December 2016 in respect of the quarter ended 31 December 2016 as follows: An aggregate amount of 14.77 cents (R0.1477) per Satrix 40 security constituted as follows: Net Local dividend per security (1) 7.21761 Dividend withholding tax on local dividend (15%) 1.27370 Net Foreign dividend per security (2) 3.88576 Dividend withholding tax on foreign dividend (15%) 0.68572 Foreign dividend (0% SA tax) (3) 0.34382 REIT dividend (4) 1.36339 TOTAL DISTRIBUTION 14.77000 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) 8.49131 Dividend withholding tax (15% on taxable dividend) - 1.27370 Net dividend per security 7.21761 2 NET FOREIGN DIVIDEND (Foreign-dual listed shares) Gross dividend (cents per security) 4.57148 Dividend withholding tax (15% on taxable dividend) - 0.68572 Net dividend per security 3.88576 3 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate) Gross dividend 0.62655 Foreign Dividends withholding tax - 0.12531 0.50124 Less portfolio costs - 0.15742 Distributable dividend 0.34382 SA Dividend withholding tax Gross dividend 0.62655 Less portfolio costs - 0.15742 0.46913 SA DWT 0.07037 SA tax 0.07037 cents (15%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N). 4 REIT DIVIDEND Gross REIT dividend 1.36339 Dividend withholding tax (15% applicable to foreign holders) - 0.20451 Net REIT dividend 1.15888 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 12 January 2017 to all holders of Satrix 40 securities recorded in the register on Friday, 30 December 2016. 9 January 2017 Sponsor: Vunani Corporate Finance Date: 09/01/2017 01:15:00 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.