Winding-up and Delisting of NewFunds Swix 40 Index Portfolio NEWFUNDS SWIX 40 INDEX ETF PORTFOLIO Share code: NFSWIX ISIN: ZAE000163754 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) ("NewFunds") Winding-up and Delisting of NewFunds Swix 40 Index Portfolio Introduction Holders of participatory interests in the NewFunds Swix 40 Index Portfolio (“Investors”) are hereby advised that NewFunds (RF) Proprietary Limited (“the Manager”), in its capacity as manager of the NewFunds Swix 40 Index Portfolio (“the Portfolio”), has decided to wind-up and delist the Portfolio. A notice (“Notice”) is being distributed to Investors today setting out further details of the winding up of the Portfolio. Rationale The Portfolio is being unwound and delisted in terms of section 102(1) of the Collective Investment Schemes Control Act 45 of 2002 (“CISCA”) for the reasons set out below: • The index which the Portfolio tracks has lost relevance and is unlikely to attract substantial new inflows. • The Portfolio have not gathered significant assets and as such the size of the Portfolio is small and the operating costs of running the Portfolio are high relative to its size which is not beneficial to Investors. The Manager is therefore of the opinion that it is in the best interests of Investors to wind up the Portfolio in terms of Section 102 of CISCA. Approvals to wind up the Portfolio The Manager has received approvals to wind-up the Portfolio from the Financial Sector Conduct Authority and the JSE. Realization of the assets of the Portfolio (“Ramp-Down Period”) The Manager will realize the assets of the Portfolio in terms of the provisions of section 102(3) of CISCA during the Ramp-Down Period. Any costs, expenses and liabilities of the Portfolio will be deducted from the proceeds of the realization of the assets and the net proceeds, including any income accruals in respect of the Portfolio will be distributed to Investors as per the timetable below. Investors should obtain their own independent advice as to the consequences of the winding-up and delisting of the Portfolio. Salient Dates and Times and Further Announcement The table below sets out the salient dates and times in respect of the winding up and delisting of the Portfolio. 2019 Record date to determine which Investors are entitled to Friday, 29 November receive the Notice from their CSDP Notice distributed to Investors and announcement released Friday, 06 December on SENS *Start of Ramp Down Period Friday, 13 December *End of Ramp Down Period Wednesday, 18 December **Distribution announcement released on SENS which sets out Thursday, 19 December the details of the final distribution to be paid, by 11:00 Expected LDT, being the last day to trade units in the Portfolio in order to be recorded in the register to receive Friday, 20 December the final distribution on Application for delisting of units submitted to the JSE Monday, 23 December Suspension of listing of units o expected to take place at Monday, 23 December the commencement of trade on Record Date, being the date on which unit holders must be recorded in the register to receive the final distribution, Friday, 27 December by close of trade on Investors expected to have their accounts (held at their CSDP or broker) credited with the final distribution, on or Monday, 30 December about #Delisting of units on the JSE expected to take place at Tuesday, 31 December the commencement of trade on or about # The Portfolio will officially be delisted from the JSE on 31 December 2019. *The duration of the Ramp Down Period may be extended depending on prevailing market liquidity, in which event the delisting date in respect of the Portfolio will occur on a later date. **A further announcement setting out the details of the final distribution to be paid to Investors will be released on SENS on Thursday, 19 December 2019. Dates and times set out in the timetable above are subject to change at the discretion of the Manager. Any such changes shall be announced on SENS. 6 December 2019 JSE Sponsor Vunani Corporate Finance Date: 06-12-2019 04:44:00 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.