AMI Real Estate - Publication of conversion ratio, results of the Initial Offer and amendment to Supplement Cloud Atlas (RF) Proprietary Limited The Cloud Atlas Collective Investment Scheme in Securities AMI RealEstate ex-SA ETF JSE code: AMIRE ISIN: ZAE000254595 (“AMI Real Estate”) 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, results of the Initial Offer for Participatory Units in the AMI Real Estate ETF and amendment to Supplement 1. Results of the Initial Offer Further to the announcements released on SENS on 7 February 2018, 2 March 2018 and 16 April 2018 respectively regarding the listing of AMI Real Estate Participatory Units, the Initial Offer closed on Friday, 2 March 2018 with a total cash subscription in terms of the Initial Offer of R 980,000.00 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 0.02136 (“the conversion ratio”) Participatory Units in the AMI Real Estate for every LA. Strate will convert the LA’s to AMI Real Estate Participatory Units in the CSDP accounts in accordance with the conversion ratio. Standard rounding will apply. 3. Listing of AMI Real Estate Participatory Units 20,933 AMI Real Estate 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 46.82 per security with trading commencing on Friday, 1 June 2018. 4. Error in the Supplement relating to the AMI Real Estate ETF Cloud Atlas (RF) Proprietary Limited wishes to draw investors attention to an amendment that has had to be made to the Supplement in respect of the AMI Real Estate ETF. The Supplement erroneously stated that the price (payable in Rand) per Participatory Unit shall be equivalent to 1/950th of the AMI Real Estate Index level on the last day of the ramp up period. This has been amended to correctly reflect that the price (payable in Rand) per Participatory Unit shall be equivalent to 1/95th of the AMI Real Estate Index level on the last day of the ramp up period. 30 May 2018 Corporate Adviser and Sponsor Vunani Corporate Finance Date: 30/05/2018 09:30:00 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.