SCIB: The Standard Bank Of South Africa - adjustment to the terms and conditions of Naspers warrants The Standard Bank of South Africa Limited 2017/09/18 ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK NASPERS LTD WARRANTS Following the Naspers Limited (“NPN”) announcement on the 5th September 2017 & the 12th September 2017 relating to the unbundling of Novus Holdings Limited (“NVS”), Naspers will unbundle its interest in Novus to Shareholders. Each Shareholder will receive 0.34588 Novus share for each Naspers share held. Following this announcement, notice is hereby given that the terms of the NPN warrants will be adjusted to place the warrant holders in the same financial position they were prior to the rights offer ex-date. The terms of the warrants shall be determined at the close of business on 19th September 2017. The following warrants will be affected by this corporate action: Existing Terms JSE Exercise Conversion Expiry Exercise ISIN Style Code Price Ratio R 04- American ZAE000242467 NPNSBB 850 2,350.00 Oct-17 Call R 02- American ZAE000243598 NPNSBC 900 2,600.00 Nov-17 Call R 05- American ZAE000245239 NPNSBD 950 3,000.00 Dec-17 Call 06- R American ZAE000248415 NPNSBE 950 Mar- 3,200.00 Call 18 R 05- European ZAE000245338 NPNSBP 700 2,650.00 Dec-17 Put 06- R European ZAE000247896 NPNSBQ 850 Mar- 2,700.00 Put 18 R 04- European ZAE000242491 NPNSBY 600 2,000.00 Oct-17 Put R 02- European ZAE000244281 NPNSBZ 700 2,350.00 Nov-17 Put New Terms JSE Exercise Conversion Expiry Exercise ISIN Style Code Price Ratio 04- American ZAE000242467 NPNSBB TBA TBA Oct-17 Call 02- American ZAE000243598 NPNSBC TBA TBA Nov-17 Call 05- American ZAE000245239 NPNSBD TBA TBA Dec-17 Call 06- American ZAE000248415 NPNSBE TBA TBA Mar- Call 18 05- European ZAE000245338 NPNSBP TBA TBA Dec-17 Put 06- European ZAE000247896 NPNSBQ TBA TBA Mar- Put 18 04- European ZAE000242491 NPNSBY TBA TBA Oct-17 Put 02- European ZAE000244281 NPNSBZ TBA TBA Nov-17 Put The Effective Date of the adjustment shall be 20th September 2017. The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the above-mentioned warrants. This Notice together with the Common Terms Document and Conditions Annexure record the terms and conditions of the agreement between the Parties. Any terms used in this Notice which are defined in the Common Terms Document, Conditions Annexure and the relevant Supplements shall bear the meaning ascribed to them therein, unless specifically stated otherwise herein. Other than as set out herein, the terms and conditions set out in the Common Terms Document, Conditions Annexure and relevant Supplements remain unchanged and in full force and effect. Please note that Share Instalments are subject to selling restrictions and prospective purchases are referred to the relevant Conditions Annexure for details of such restrictions. Date: 18/09/2017 02:58:00 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.