SCIB: The Standard Bank Of South Africa -SGL warrants adjustments in reference to underlying restructure The Standard Bank of South Africa Limited 2020/02/18 ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK SIBANYE GOLD LTD WARRANTS Following the Sibanye Gold Limited (“SGL”) announcement with regards to the restructuring of SGL, SGL shareholders will receive 1 SSW shares for every 1 SGL shares held. Following this announcement, notice is hereby given that the terms of the SGL warrants will remain unchanged in their naming convention and will now reference SSW as their underlying instrument. The Effective Date of the adjustment shall be 19th February 2020. 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. Please note that Share Instalments are subject to selling restrictions and prospective purchases are referred to the relevant Conditions Annexure for details of such restrictions. For further information contact: Standard Bank Warrants 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: 18-02-2020 05:30:00 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.