SCIB: adjustment to the terms and conditions of the Standard Bank Sibanye Gold LTD share instalments The Standard Bank of South Africa Limited 2017/05/18 ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK SIBANYE GOLD LTD SHARE INSTALMENTS Following the Sibanye Gold Limited (“SGL”) announcement on the rights offer, SGL shareholders will receive rights to take up 9 SGL shares for every 7 SGL shares held at a price of R11.28 per share. Following this announcement, notice is hereby given that the terms of the SGL warrants will be adjusted to place the warrant holders in the same financial position they were prior to the rights offer ex-date. The terms of the warrants shall be determined at the close of business on 23rd May 2017. The following share instalments will be affected by this corporate action: Existing Terms JSE Exercise Conversion ISIN Expiry Exercise Style Code Price Ratio ZAE000230561 SGLSTA R 30.00 1 04-Oct-17 American Call New Terms JSE Exercise Conversion ISIN Expiry Exercise Style Code Price Ratio ZAE000230561 SGLSTA TBA TBA 04-Oct-17 American Call The Effective Date of the adjustment shall be 24th May 2017. The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the above-mentioned share instalments. 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. Date: 18/05/2017 01:40:00 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.