Rebalancing of the Ashburton MIDCAP ETF - ASHMID Ashburton MidCap ETF A portfolio in the Ashburton Collective Investment Scheme (“the portfolio”) registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 Share Code: ASHMID ISIN: ZAE000215349 (“ASHMIDCAP”) REBALANCING OF THE ASHBURTON MIDCAP ETF Notice is hereby given that the quarterly review of the FTSE/JSE MidCap Index has resulted in a rebalancing of the Ashburton MidCap ETF. There have been changes to the Ashburton MidCap ETF constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Share Code Share Previous weight New Weight AFE A E C I LIMITED 1.05% 1.12% ARI AFRICAN RAINBOW MINE 1.57% 1.69% ASR ASSORE LIMITED 1.13% 1.21% ATT ATTACQ LIMITED 1.01% 1.07% AVI AVI LIMITED 2.80% 2.99% BAT BRAIT S.A. 0.79% 0.85% BAW BARLOWORLD LIMITED 2.50% 2.68% CCO CAPITAL & COUNTIES PROPS 1.67% 1.79% CLS CLICKS GROUP LTD 4.12% 4.54% CML CORONATION FUND MAN 1.14% 1.22% COH CURRO HOLDINGS LTD 0.39% 0.42% DCP DIS-CHEM PHARMACIES PTY 0.95% 1.02% DGH DISTELL GROUP HOLDINGS LT 1.02% 1.09% EPP ECHO POLSKA PROPERTIES 0.60% 0.64% FBR FAMOUS BRANDS LTD 0.75% 0.80% FFA FORTRESS REIT LTD - A 2.08% 2.23% FFB FORTRESS REIT LTD - B 0.96% 1.03% GFI GOLD FIELDS LIMITED 4.34% 4.64% HAR HARMONY GOLD MINING 1.19% 1.34% HCI HOSKEN CONS INVESTMENTS L 0.53% 0.57% HYP HYPROP INV LTD 1.91% 2.04% IMP IMPALA PLATINUM HOLDINGS 4.04% 4.32% IPL IMPERIAL LOGISTICS 1.01% 1.08% ITE ITALTILE LIMITED 0.55% 0.59% ITU INTU PROPERTIES PLC 1.76% 1.88% JSE JSE LTD 1.24% 1.33% KAP KAP INDUST HOLDINGS LT 1.34% 1.44% KST PSG KONSULT LTD 0.38% 0.41% LBH LIBERTY HOLDINGS LTD 1.10% 1.18% LHC LIFE HEALTHCARE GROUP HOL 3.57% 3.82% MMI MMI HOLDINGS LIMITED 1.68% 1.76% MSM MASSMART HOLDINGS 0.88% 0.94% MSP MAS REAL ESTATE INC 0.00% 1.00% MTH MOTUS HOLDINGS LTD 1.26% 1.51% NHM NORTHAM PLATINUM LTD 2.03% 2.17% NPK NAMPAK LIMITED 0.70% 0.75% NTC NETCARE LIMITED 3.49% 3.73% OCE OCEANA GROUP LIMITED 0.26% 0.28% PFG PIONEER FOODS GROUP LTD 1.11% 1.19% PIK PICK N PAY STORES 2.23% 2.39% QLT QUILTER PLC 3.01% 3.21% RCL RCL FOODS LTD/SOUTH AFRIC 0.26% 0.28% RES RESILIENT REIT LTD 1.59% 1.71% RLO REUNERT LIMITED 1.04% 1.11% RPL RDI REIT PLC 0.45% 0.48% SAC SA CORP REAL EST FD 0.86% 0.92% SAP SAPPI LIMITED 0.00% 3.99% SGL SIBANYE GOLD LTD 2.54% 2.72% SNH STEINHOFF INTERNATIONAL 0.38% 0.41% SNT SANTAM LIMITED 1.16% 1.24% SPG SUPER GROUP LIMITED 1.19% 1.27% SPP SPAR GROUP 3.60% 3.85% TFG THE FOSCHINI GROUP LTD 3.77% 4.03% TKG TELKOM SA SOC LIMITED 2.09% 2.24% TRU TRUWORTHS INT LTD 2.88% 3.08% TSH TSOGO SUN HOLDINGS LTD 1.06% 1.13% VKE VUKILE PROPERTY FUND 1.51% 1.63% The following constituents have been added to the Ashburton MidCap: Share Code Share Previous Weight New Weight MSP MAS REAL ESTATE INC 0.00% 1.00% SAP SAPPI LIMITED 0.00% 3.99% The following constituents have been removed from the Ashburton MidCap: Share Code Share Previous Weight New Weight ANG ANGLOGOLD ASHANTI 7.32% 0.00% EXX EXXARO RESOURCES LTD 3.74% 0.00% LTE LIGHTHOUSE CAPITAL LTD 0.24% 0.00% TON TONGAAT-HULETT LIMITED 0.18% 0.00% These changes were applied after the close of business on 15/03/2019 and are effective from 18/03/2019. A copy of the ETF issue document can be found at http://www.ashburtoninvestments.com/za/individual- investor/investment-range/exchange-traded-funds/ashburton-midcap-etf 19 March 2019 Johannesburg Sponsor: Bridge Capital Advisors Proprietary Limited Date: 19/03/2019 12:47:00 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.