Rebalancing of the Ashburton Top 40 ETF Ashburton Top 40 ETF A portfolio in the Ashburton Collective Investment Scheme (“the portfolio”) registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 Share Code: ASHT40 ISIN: ZAE000215364 (“ASHTOP40”) REBALANCING OF THE ASHBURTON TOP 40 ETF Notice is hereby given that the quarterly review of the FTSE/JSE Top 40 Index has resulted in a rebalancing of the Ashburton Top 40 ETF. There have been changes to the Ashburton Top 40 ETF constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Share Previous New Code Share Weight Weight AGL ANGLO AMERICAN PLC 4.57% 4.02% ANG ANGLOGOLD ASHANTI 0.78% 0.77% APN ASPEN PHARMACARE HLD 1.61% 1.54% BGA BARCLAYS AFRICA GROUP LTD 1.68% 2.03% BID BID CORPORATION LIMITED 1.57% 1.51% BIL BHP BILLITON PLC 8.42% 8.19% BTI BRIT AMERICA TOBACO 4.33% 3.33% BVT BIDVEST GROUP LTD 1.09% 1.17% CFR COM FINANCE RICHMONT SA 9.91% 9.51% CPI CAPITEC BANK HOLDING 0.83% 0.91% DSY DISCOVERY HLDS LTD 0.89% 1.03% FSR FIRSTRAND LIMITED 2.94% 3.42% GFI GOLD FIELDS LIMITED 0.65% 0.67% INL INVESTEC LIMITED 0.39% 0.40% INP INVESTEC PLC 0.89% 0.92% LHC LIFE HEALTHCARE GROUP HOL 0.58% 0.59% MEI MEDICLINIC INTERNAT PLC 0.66% 0.59% MND MONDI LIMITED 0.61% 0.60% MNP MONDI PLC 1.89% 1.86% MRP MR PRICE GROUP LTD 0.86% 0.99% MTN MTN GROUP LIMITED 3.82% 3.89% NED NEDBANK GROUP LTD 0.78% 0.88% NPN NASPERS LIMITED 23.47% 22.58% NTC NETCARE LIMITED 0.53% 0.00% OML OLD MUTUAL PLC 2.84% 3.01% REM REMGRO LIMITED 1.77% 1.98% RMH RMB HOLDINGS LIMITED 0.71% 0.82% RNI REINET INVESTMENTS SCA 0.64% 0.64% SAP SAPPI LIMITED 0.83% 0.79% SBK STANDARD BK GRP LTD 3.65% 4.11% SHP SHOPRITE HLDS LTD 1.60% 1.62% SLM SANLAM LIMITED 2.18% 2.55% SNH STEINHOFF INTERNATIONAL 0.37% 0.29% SOL SASOL LIMITED 3.76% 3.62% TBS TIGER BRANDS LIMITED 1.10% 1.18% VOD VODACOM GROUP 1.38% 1.41% WHL WOOLWORTHS HLDS LTD 0.90% 0.98% FFA FORTRESS REIT LTD 0.32% 0.34% FFB FORTRESS REIT LTD 0.48% 0.51% GRT GROWTHPOINT PROPS LTD 1.14% 1.23% ITU INTU PROPERTIES PLC 0.63% 0.62% NRP NEPI ROCKCASTLE PLC 1.10% 1.20% RDF REDEFINE PROP LTD 0.83% 0.90% RES RESILIENT REIT LTD 0.00% 0.77% These changes were applied after the close of business on 15/12/2017 and are effective from 18/12/2017. A copy of the ETF issue document can be found at http://www.ashburtoninvestments.com/za/individual- investor/investment-range/exchange-traded-funds/ashburton-top-40-etf 20 December 2017 Johannesburg Sponsor: Bridge Capital Advisors Proprietary Limited Date: 20/12/2017 01:00:00 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.