ASHINF - Rebalancing of the Ashburton Inflation ETF Ashburton Inflation ETF A portfolio in the Ashburton Collective Investment Scheme in Securities Exchange Traded Funds (the “portfolio”) registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 Share Code: ASHINF ISIN: ZAE000215331 (“ASHINFBND”) REBALANCING OF THE ASHBURTON INFLATION ETF Notice is hereby given that the monthly review of the FTSE/JSE IGOV Index has resulted in a rebalancing of the Ashburton Inflation ETF. There have been changes to the Ashburton Inflation ETF constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Bond Previous Weight New weight I2025 14.86% 14.61% I2029 4.64% 4.68% I2033 5.81% 6.06% I2038 10.66% 10.92% I2046 9.63% 9.97% I2050 12.02% 12.16% R197 18.55% 18.08% R202 13.97% 13.92% R210 9.85% 9.59% These changes were applied after the close of business on 07 January 2021 and were effective from 08 January 2021. The new portfolio constituents can be accessed at: https://www.ashburtoninvestments.com/za/individual- investor/basket-information/ashburton-inflation-etf/ZAE000215331 13 January 2021 Johannesburg Debt Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 13-01-2021 05:00:00 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.