Listing of UBS Long/Short Certificates on Exxaro Resources (Long) vs. Kumba Iron Ore (Short) – Series 86 UBS AG, London Branch (“UBS AG” or the “Company”) (Incorporated and domiciled in Switzerland) (Registration number: CHE-101.329.561) Listing of UBS Long/Short Certificates on Exxaro Resources Limited (Long) vs. Kumba Iron Ore Limited (Short) – Series 86. The JSE Limited has granted UBS AG approval for the listing of UBS Long/Short Certificates due 18 September 2020 referencing Exxaro Resources Limited (Long) vs. Kumba Iron Ore Limited (Short). These listings are issued under the JSE Placement Document for the Issuance of South African Securities up to an authorised amount of ZAR 14 000 000 000. Trading will commence on Thursday, 05 September 2019. INSTRUMENT NUMBER: 86794 ALPHA CODE: UBEXXA ISIN: ZAE000277497 ISSUE SIZE (UNITS): 1,000,000 ISSUE PRICE (RAND/ UNIT): 36.82 UNDERLYING EQUITIES: Exxaro Resources Limited Kumba Iron Ore Limited LISTING DATE: 05 September 2019 EXPIRY DATE: 18 September 2020 For further information kindly contact: UBS KeyInvest South Africa Tel.: +27 11 322 7129 / 7317 E-mail: keyinvestza@ubs.com Web: http://keyinvest-za.ubs.com/products Johannesburg 04 September 2019 Sponsor: UBS South Africa (Pty) Limited Date: 04/09/2019 03:57:00 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.