SCIB: The Standard Bank Of South Africa - adjustment to terms of standard bank warrant The Standard Bank of South Africa Limited 2018/11/20 ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK IMPERIAL HOLDINGS LTD WARRANTS Following the Imperial Holdings Ltd (“IPL”)unbundling announcement, IPL holders will receive 1 Motus Holdings Limited (“MTH”) for every 1 IPL held. Following this announcement, notice is hereby given that all IPL warrants will be traded as Basket Warrants where the price of the warrant will be calculated based on the combined prices of IPL and MTH. The following warrants will be affected by this corporate action: Existing Terms: Conversion ISIN JSE Code Exercise Price Expiry Exercise Style Ratio ZAE000260881 IPLSBA R 235.00 125 04-Apr-19 American Call The last day to trade to qualify for the unbundling is the 21st November 2018. The Effective Date of the adjustment shall be 22nd October 2018. The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the above-mentioned warrants. This Notice together with the Common Terms Document and Conditions Annexure record the terms and conditions of the agreement between the Parties. Any terms used in this Notice which are defined in the Common Terms Document, Conditions Annexure and the relevant Supplements shall bear the meaning ascribed to them therein, unless specifically stated otherwise herein. Other than as set out herein, the terms and conditions set out in the Common Terms Document, Conditions Annexure and relevant Supplements remain unchanged and in full force and effect. For further information contact: Standard BankWarrants Tel 0800 111 780 Email: derivatives@standardbank.co.za Issuer: The Standard Bank of South Africa Limited Sponsor: SBG Securities (Pty) Ltd This notice should be read together with the Common Terms Document, Conditions Annexure and relevant Supplement which collectively record the terms and conditions of the agreement between the Issuer and Warrantholders. SCIB Date: 20/11/2018 02:15:00 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.