Distribution Announcement – Period Ended 31 December 2017 - SYGSW4 The Sygnia Itrix Collective Investment Scheme Sygnia Itrix SWIX 40 ETF JSE code: SYGSW4 ISIN: ZAE000251344 (“SYGSW4”) A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. DISTRIBUTION FINALISATION ANNOUNCEMENT - PERIOD ENDED 31 DECEMBER 2017 The manager and trustee have resolved to make a distribution to holders of SYGSW4 securities recorded in the register on Friday, 29 December 2017 in respect of the period ended 31 December 2017. An aggregated amount of ZAR 0.01739 (one point seven three nine three two cents) per SYGSW4 security is declared as follows: Gross Net Source Distribution Subject to Distribution Alpha Dividend/ Foreign/ of (Cents per Withholding Withholding (Cents per code Interest Local funds unit) tax Yes/ No Tax (%) unit) SYGSW4 Dividend Local 1.21622 Yes 20% 0.97298 Foreign United SYGSW4 Dividend Dual Kingdom 0.07207 Yes 20% 0.05766 Local SYGSW4 Dividend REIT 0.45103 Yes 20% 0.36082 1.73932 1.39146 The distribution will be paid to holders on 15 January 2018. Withholding Tax on Interest (WTI) came into effect on 1 March 2015. Interest accruing from a South African source to a non-resident, excluding a controlled foreign company, will be subject to withholding tax at a rate of 15% on payment, except interest, • arising on any Government debt instrument • arising on any listed debt instrument • arising on any debt owed by a bank or the South African Reserve Bank • arising from a bill of exchange or letter of credit where goods are imported into South Africa and where an authorized dealer has certified such on the instrument • payable by a headquarter company • accruing to a non-resident natural person who was physically present in South Africa for a period exceeding 183 days in aggregate, during that year, or carried on a business through a permanent establishment in South Africa Investors are advised that to the extent that the distribution amount comprise of any interest, it will not be subject to WTI by virtue of the fact that it is listed debt instruments and/or bank debt. No dividend withholding tax will be deducted from dividends payable to a South African tax resident qualifying for exemption from dividend withholding tax provided that the investor has provided the following forms to their Central Securities Depository Participant (“CSDP”) or broker, as the case may be in respect of its participatory interest: a) a declaration that the distribution is exempt from dividends tax; and b) a written undertaking to inform their CSDP or broker, as the case may be, should the circumstances affecting the exemption change or the beneficial owner cease to be the beneficial owner, both in the form prescribed by the South African Revenue Service. South African tax resident investors are advised to contact their CSDP or broker, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of the distribution, if such documents have not already been submitted. Non-resident investors for South African income tax purposes The dividend distribution received by non-resident investors will be exempt from income tax in terms of section 10(1)(k)(i) of the Act, but will be subject to dividend withholding tax. Dividend withholding tax is levied at a rate of 20%, unless the rate is reduced in terms of any applicable agreement for the avoidance of double taxation (“DTA”) between South Africa and the country of residence of the non-resident investor. A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-resident investor has provided the following forms to their CSDP or broker, as the case may be in respect of its participatory interest: a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner cease to be the beneficial owner, both in the form prescribed by the South African Revenue Service. Non-resident investors are advised to contact their CSDP or broker, as the case may be, to arrange for the abovementioned documents to be submitted prior to the payment of the distribution if such documents have not already been submitted. Both resident and non-resident investors are encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take. 4 January 2018 Manager Sygnia Itrix Collective Investment Scheme Trustee The Standard Bank of South Africa Limited Sponsor Vunani Corporate Finance Date: 04/01/2018 08:30:00 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.