Publication of Conversion Ratio and Results of the Initial Offer for Participatory Units in the AMI Big50 ex-SA ETF Cloud Atlas (RF) Proprietary Limited The Cloud Atlas Collective Investment Scheme in Securities AMI Big50 ex-SA ETF JSE code: AMIB50 ISIN: ZAE000242582 (“AMI Big50 ex-SA”) A portfolio in the Cloud Atlas Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. Publication of conversion ratio and results of the Initial Offer for Participatory Units in the AMI Big50 ex-SA ETF 1. Results of the Initial Offer Further to the announcement released on SENS on Monday, 27 March 2017 regarding the listing of AMI Big50 ex-SA Participatory Units, the Initial Offer closed on Friday, 31 March 2017 with a total cash subscription in terms of the Initial Offer of R 2,000,000.00 being received. 2. Issue of letters of allotment and conversion ratio One letter of allotment (“LA”) has been issued for every Rand subscription against the debiting of a subscriber’s CSDP or broker account with such Rand amount. Investors will be issued 0.07900 (“the conversion ratio”) Participatory Units in the AMI Big50 ex-SA ETF for every LA. Strate will convert the LA’s to AMI Big50 ex-SA Participatory Units in the CSDP accounts in accordance with the conversion ratio. Standard rounding will apply. 3. Listing of AMI Big50 ex-SA Participatory Units 158,000 AMI Big50 ex-SA Participatory Units will be issued and listed on the Exchange Traded Funds sector of the main board of the JSE Limited at an issue price of approximately R 12.12 per security with trading commencing on Thursday, 20 April 2017. 18 April 2017 Corporate Adviser and Sponsor Vunani Corporate Finance Date: 18/04/2017 03:30:00 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.