SATRIX COLLECTIVE INVESTMENT SCHEME - Changes To The Benchmark Index of the Satrix Raf 40 ETF (STXRAF)

Changes To The Benchmark Index of the Satrix Raf 40 ETF (STXRAF)

Satrix Managers (RF) Pty Ltd
Satrix Property ETF
JSE Code: STXRAF
ISIN: ZAE000126033
("Satrix RAF 40 ETF" or the "ETF")

A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002

Changes To The Benchmark Index of the Satrix Raf 40 ETF (STXRAF)

Holders of Satrix RAF 40 ETF securities are referred to the
announcement released on SENS on 9 July 2026 regarding the ballot
results in relation to the changes to the investment policy and the
name of the ETF. As of 20 July 2026, Satrix Raf 40 changed from
tracking the FTSE/JSE RAFI 40 (J260) Index to tracking the RAFI
Fundamental Select South Africa 40 Index (price return).

The implementation of the RAFI Fundamental Select South Africa 40
Index (price return) as the new index which the ETF tracks has had
no effect on either the number of issued Satrix RAF 40 units, or
the value of each Satrix RAF 40 ETF.

There is however a difference in the closing index levels of the
FTSE/JSE RAFI 40 (J260) (price return) and the RAFI Fundamental Select
South Africa 40 Index (price return) which required that an adjustment
be made to the amount that each Satrix RAF 40 security represents of
the RAFI Fundamental Select South Africa 40 Index (price return).

Therefore, to cater for the difference in the closing index levels a
factor of 3.4138 ("Adjustment Factor") was calculated.

Post the implementation of the new index, each Satrix RAF 40 security
tracking the RAFI Fundamental Select South Africa 40 Index (price
return) will now represent 1/100TH of the index level multiplied by
the Adjustment Factor of 3.4138 (the adjustment factor) plus an amount
which reflects a pro rata portion of any accrued distribution amount
within the portfolio.


31 July 2026

JSE Sponsor
Vunani Sponsors

Date: 31-07-2026 02:20:00
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