Conversion Ratio and the Listing of the Satrix Momentum Portfolio - STXMMT SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX MOMENTUM PORTFOLIO JSE Code: STXMMT ISIN: ZAE000264008 ("Satrix Momentum" or the "Portfolio") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. CONVERSION RATIO AND THE LISTING OF THE SATRIX MOMENTUM PORTFOLIO (“THE PORTFOLIO”) Further to the announcement released on SENS on Friday, 09 November 2018 regarding the results of the initial public offer (“the offer”) for subscription to the portfolio, Satrix Managers (RF) Pty Limited hereby announce the conversion ratio and the listing of the portfolio. 1. Conversion ratio Investors will be entitled to 0.1021220 (“the conversion ratio”) Satrix Momentum Securities for every letter of allocation (“LA”) issued. The LAs will be converted to Satrix Momentum securities in the subscriber’s CSDP or broker account. 2. Issued securities and listing Satrix Momentum portfolio will issue 807 779 (eight hundred and seven thousand seven hundred and seventy nine) securities, comprising of the sum total of the cash subscriptions, to list on the “Exchange Traded Funds” sector of the main board of the JSE Limited, at an issue price of approximately R 9.47 per security, to commence trading on Friday 16th of November 2018. 15 November 2018 Satrix Managers (RF) Pty Limited Sponsor Vunani Corporate Finance Date: 15/11/2018 03:20:00 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.