Rebalancing of the Ashburton TOP 40 ETF - ASHT40 Ashburton Top 40 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: ASHT40 ISIN: ZAE000215364 (“ASHTOP40”) REBALANCING OF THE ASHBURTON TOP 40 ETF Notice is hereby given that the quarterly review of the FTSE/JSE Top 40 Index has resulted in a rebalancing of the Ashburton Top 40 ETF. There have been changes to the Ashburton Top 40 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 ABG ABSA GROUP LTD 1.91% 2.04% AGL ANGLO AMERICAN PLC 6.17% 6.18% AMS ANGLO AMERICAN PLATINUM 0.00% 0.76% ANG ANGLOGOLD ASHANTI 1.29% 1.30% APN ASPEN PHARMACARE HLD 0.63% 0.63% BHP BHP GROUP PLC 11.54% 11.23% BID BID CORPORATION LIMITED 1.59% 1.62% BTI BRIT AMERICA TOBACO 2.44% 2.45% BVT BIDVEST GROUP LTD 1.12% 1.13% CFR COM FINANCE RICHMONT SA 8.84% 8.81% CLS CLICKS GROUP LTD 0.72% 0.76% CPI CAPITEC BANK HOLDING 1.12% 1.10% DSY DISCOVERY LTD 0.81% 0.84% FSR FIRSTRAND LTD 3.33% 3.35% GFI GOLD FIELDS LIMITED 0.00% 0.73% GRT GROWTHPOINT PROPS LTD 1.18% 1.20% INL INVESTEC LIMITED 0.46% 0.44% INP INVESTEC PLC 0.99% 0.95% MCG MULTICHOICE GROUP LTD 0.85% 0.76% MND MONDI LIMITED 0.66% 0.66% MNP MONDI PLC 2.05% 2.02% MRP MR PRICE GROUP LTD 0.80% 0.88% MTN MTN GROUP LIMITED 2.83% 2.71% NED NEDBANK GROUP LTD 1.71% 1.76% NPN NASPERS LTD-N SHS 22.41% 21.94% NRP NEPI ROCKCASTLE PLC 0.70% 0.70% NTC NETCARE LIMITED 0.61% 0.62% OMU OLD MUTUAL LTD 1.73% 1.76% PSG PSG GROUP LIMITED 0.67% 0.67% RDF REDEFINE PROP LTD 0.86% 0.94% REM REMGRO LIMITED 1.70% 1.75% RMH RMB HOLDINGS LIMITED 0.95% 0.98% SAP SAPPI LIMITED 0.66% 0.67% SBK STANDARD BANK GROUP LTD 3.97% 3.96% SHP SHOPRITE HLDS LTD 1.32% 1.40% SLM SANLAM LIMITED 2.13% 2.31% SOL SASOL LTD 4.07% 3.94% SPP SPAR GROUP 0.63% 0.65% TBS TIGER BRANDS LIMITED 0.76% 0.74% TFG THE FOSCHINI GROUP LTD 0.66% 0.67% VOD VODACOM GROUP 1.21% 1.22% WHL WOOLWORTHS HLDS LTD 0.72% 0.76% The following constituents have been added to the Ashburton Top 40: Share Code Share Previous Weight New Weight AMS ANGLO AMERICAN PLATINUM 0.00% 0.76% GFI GOLD FIELDS LIMITED 0.00% 0.73% The following constituents have been removed from the Ashburton Top 40: Share Code Share Previous Weight New Weight LHC LIFE HEALTHCARE GROUP HOL 0.63% 0.00% RNI REINET INVESTMENTS SCA 0.58% 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 https://www.ashburtoninvestments.com/docs/default-source/document-library/etf-related- documents/ashburton-top40-etf/asht40-sens-announcement-fund-rebalance.pdf 22 March 2019 Johannesburg Sponsor: Bridge Capital Advisors Proprietary Limited Date: 22/03/2019 02:45:00 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.