ASHF - Notification in accordance with Paragraph 19.20 of the Requirements Ashburton Management Company RF Proprietary Limited 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 Company Code: ASHF (“Ashburton” or the “Company”) NOTIFICATION IN ACCORDANCE WITH PARAGRAPH 19.20 OF THE REQUIREMENTS Securityholders are referred to the announcements released on SENS today by the following exchange traded funds managed by Ashburton, in respect of the availability of their audited annual financial statements on the websites detailed in the table below, in accordance with paragraph 19.20(d) of the JSE Limited Listings Requirements (the “Requirements”): • Ashburton Global 1200 Equity Fund of Fund Exchange Traded Fund (“ASHEQF”); • Ashburton Government Inflation Linked Bond Exchange Traded Fund (“ASHINF”); • Ashburton MidCap Exchange Traded Fund (“ASHMID”); • Ashburton Top 40 Exchange Traded Fund (“ASHT40”); and • Ashburton World Government Bond Exchange Traded Fund (“ASHWGB”), (collectively, the “ETFs”). Ashburton wishes to further notify investors of the following in relation to the ETFs, in accordance with paragraph 19.20(e) of the Requirements: 1. there have been no amendments to the terms and conditions of the ASHMID, ASHT40 and ASHWGB exchanged traded funds and there were amendments to the terms and conditions of the ASHEQF and ASHINF exchanged traded funds; 2. there have been no material changes to the ASHMID, ASHT40 and ASHWGB supplements, as detailed in the table below (collectively, the “no change statements”); 3. there have been material changes to the ASHEQF and ASHINF supplements, as detailed in the table below; 4. the no change statements have been made available on the websites included in the table below; and 5. new listings will be made available on the websites included in the table below. ETF Supplement Website Code ASHEQF Supplement dated 31 August 2020 https://www.ashburtoninvestments.com/za/individual- investor/fund/ashburton-global-1200-equity- etf/zae000289872 ASHINF Supplement dated 13 August 2020 https://www.ashburtoninvestments.com/za/individual- investor/fund/ashburton-inflation-etf/zae000215331 ASHMID Supplement dated 22 February 2016 https://www.ashburtoninvestments.com/za/individual- investor/fund/ashburton-midcap-etf/zae000215349 ASHT40 Supplement dated 22 February 2016 https://www.ashburtoninvestments.com/za/individual- investor/fund/ashburton-top-40-etf/zae000215364 ASHWGB Supplement dated 8 February 2018 https://www.ashburtoninvestments.com/za/individual- investor/fund/ashburton-world-government-bond- etf/zae000254413 30 October 2020 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30-10-2020 04:05:00 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.