Distribution Announcement – Period Ended 31 December 2017 – Update - SYGWD The Sygnia Itrix Collective Investment Scheme Sygnia Itrix MSCI World Index ETF JSE code: SYGWD ISIN: ZAE000249553 (“SYGWD or the “ETF”) 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 ANNOUNCEMENT – PERIOD ENDED 31 DECEMBER 2017 – UPDATE Further to the announcement released on SENS on Thursday, 4 January 2018, holders of SYGWD securities are advised that the net distribution payable on Wednesday 17 January 2018 will be a minimum amount of ZAR 0.13188 per SYGWD security. This is based on the ZAR/USD exchange rate prevailing on Thursday, 11 January 2018 of 12.361516. The net ZAR distribution amount of ZAR 0.13188 per SYGWD security is calculated as follows: - Gross foreign dividends of ZAR 0.21014 (two one point zero one four cents); - Less: Foreign withholding tax of ZAR 0.02880(two point eight eight zero cents); - Plus: Equalisation of ZAR 0.02038 (two point zero three eight cents); - Plus: Foreign exchange gain of ZAR 0.00058 (zero point zero five eight cents); - Plus: Interest of ZAR 0.00005 (zero point zero zero five cents); - Less: Management fee of ZAR 0.07047 (seven point zero four seven cents); All income derived is foreign in nature and does not include any manufactured dividends. This amount will be adjusted upwards for larger investors who are liable for less than the 0.60% management fee. Investors are advised that the full fee details may be viewed on www.sygnia.co.za/etfs/etf-and-etn-fund-range. The aggregate amount payable to each investor will be rounded down to the nearest cent. The balance (if any) will be retained and paid out in the following distribution period. All amounts have been rounded to the fifth decimal point. 12 January 2018 Manager Sygnia Itrix Collective Investment Scheme Trustee The Standard Bank of South Africa Limited Sponsor Vunani Corporate Finance Date: 12/01/2018 04:18:00 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.