Investment Form Classic Investment Plan - STANLIB

Transcription

1 Investment Form Classic Investment Plan - STANLIB STANLIB Wealth Management Limited Registration number 1996/005412/06 Authorised Administrative FSP in terms of the FAIS Act, 2002 (FSP No. 26/10/590) 17 Melrose Boulevard Melrose Arch 2196 P O Box 202 Melrose Arch 2076 Contact Centre Facsimile or instructions@stanlib.com A copy of this form must be sent to STANLIB and the Financial Adviser must also retain a complete copy. In terms of the FAIS Act, the Financial adviser that dealt with the Client must deliver the original to the Client for safe custody. ENTITY TYPE NATURAL PERSON INDIVIDUAL SOLE PROPRIETOR OTHER ENTITY TYPES TRUST UNLISTED COMPANY CLOSE CORPORATION PARTNERSHIP ESTATE LATE LISTED COMPANY PENSION FUND MEDICAL AID OTHER (E.G. CLUB, SOCIETY, SCHOOL, BODY CORPORATE, ESTATE AGENT, STOKVEL, ETC.) IF OTHER, PLEASE SPECIFY CLIENT DETAILS: NATURAL PERSON INVESTMENT PROPOSAL NUMBER TITLE NAME/S SURNAME ID/PASSPORT NUMBER DATE OF BIRTH - - D D M M Y Y Y Y PASSPORT EXPIRY DATE - - D D M M Y Y Y Y CELLPHONE NUMBER - TELEPHONE (HOME) - COUNTRY OF ISSUE TELEPHONE (WORK) - ADDRESS INCOME TAX NUMBER SOURCE OF FUNDS SOURCE OF INCOME SA RESIDENT YES NO COUNTRY OF RESIDENCE CLIENT DETAILS: OTHER ENTITY TYPES All partnerships must complete the Partner information annexure available on submit the completed form with the application form. INVESTMENT PROPOSAL NUMBER REGISTERED NAME OF LEGAL ENTITY TRADENAME DATE OF INCEPTION - - D D M M Y Y Y Y DR0219 Page 1 of 15

2 REGISTRATION NUMBER INCOME TAX NUMBER COUNTRY OF TAX RESIDENCE CONTACT PERSON REPRESENTING OTHER ENTITY TYPES TITLE CONTACT NAME AND SURNAME CELLPHONE NUMBER - TELEPHONE (WORK) - ADDRESS CLIENT'S PHYSICAL ADDRESS COMPLEX / UNIT NUMBER COMPLEX NAME STREET NUMBER STREET NAME/ NAME OF FARM SUBURB/ DISTRICT CITY/ TOWN COUNTRY CODE CLIENT'S POSTAL ADDRESS SAME AS PHYSICAL ADDRESS PO BOX NUMBER POST OFFICE NAME POSTAL CODE PRIVATE BAG NUMBER POST OFFICE NAME POSTAL CODE POSTNET SUITE NUMBER PRIVATE BAG NUMBER POST OFFICE NAME POSTAL CODE DIVIDENDS TAX SARS will levy a withholdings tax on dividends rate 15%. If you are an exempt entity or have a reduced rate, please indicate this below and complete the corresponding declaration as an annexure to the application form. the declaration forms are available on and the default rate of 15% will be applied if the annexure is not completed and submitted. EXEMPT FROM DIVIDENDS TAX REDUCED DIVIDENDS TAX RATE PHASE-IN OPTION (UNIT TRUST PORTFOLIOS ONLY) Where the Phase-in option has been selected the investment amount will be held in a Standard Bank Call account. The investment amount will be divided by the frequency selected and the amounts derived will be withdrawn from the call account and invested proportionately in the portfolios selected on the selected dates. Only available on Lump sum investments, not available for Additional Investments DR0219 Page 2 of 15

3 NUMBER OF PHASE IN MONTHS COMMENCEMENT DAY 3RD OR 17TH OF THE MONTH PLAN DETAILS TOTAL INVESTMENT AMOUNT R. INVESTMENT TYPE DIRECT DEPOSIT ONCE OFF DEBIT The minimum investment amount is R for the Investment Plan certain underlying Structured portfolio's have a minimum investment amount of R Please select a maximum of 12 portfolios (Unit Trust and Structured portfolios) and indicate the portfolio range. Where the portfolio range is left blank, the Select portfolio range will be applied. If the portfolio range selected is not offered on the Select portfolio range, then the Classic portfolio range will apply. Visit for a complete list of our portfolio ranges. UPFRONT SPREAD CHARGE YES NO OPTIONAL DEATH BENEFIT YES NO To qualitfy for the optional death benefit, the client must select at least 4 Collective investment (Unit trust) portfolios with a minimum of 15% in each. UNIT TRUST PORTFOLIOS Portfolio Name Portfolio Range (e.g. Classic, Select) Percentage Amount Total: R DR0219 Page 3 of 15

4 < - - P a g e B r e a k - - > STRUCTURED PORTFOLIOS - PROTECTED EQUITY PORTFOLIO RANGE Please note the Structured portfolio range is offered by Standard Bank and the minimum investment amount is R Select Holding account Portfolio name Percentage Amount Standard Bank Money Market R class PII 3 Standard Bank Money Market R class PII 5 Standard Bank Money Market R class CA 3 Standard Bank Money Market R class CA 5 Standard Bank Money Market R class Quantum 5 TOTAL Please note: 1. The Standard Bank Money Market account is the holding account for the Structured portfolio/s and investment into the Structured Portfolios are scheduled for the last working day of the month. 2. Structured Portfolio's are not liquid and you need to provide enough money in liquid funds to cover the Platform, Financial Adviser charges and income requirements. Charges will be deducted from Money Market funds first and if the funds are not sufficient, charges will be deducted proportionaly across unit trust funds. 3. All of the above charges will be redeemed from the Standard Bank Money Market unit trust portfolio and not the PEPR product. The client agrees that where there are insufficient funds in the Standard Bank Money Market unit trust portfolios, STANLIB is entitled to redeem the appropriate amount needed for liquidity purposes for all charges and income requirements for the duration of the PEPR Product. These funds redeemed will be transferred to Standard Bank Money Market and will firstly come from other unit trust portfolios in the contract, redeemed proportionally and if there is still insufficient funds then from the PEPR Product. 4. Please use the calculator below to assist you with calculating the portion required in liquid funds. 5. Only Financial Service Provider's with FAIS license 1.13 and 1.14 are allowed to sell Structured Products. Structured Products Liquidity requirement Depending on the Structured Product, the chosen term is 3 or 5 years: What % of the structured product invested in Money Market: Platform charge 0.50% pa + VAT = 0.57% 0.57% x 3 years = 1.71% or 0.57% x 5 years = 2.85% % Financial adviser charge Income amount % pa + VAT = % % pa x 3 years = % or x 5 years = % x 3 years = % or x 5 years = % Total % into Money Market or other unit trust portfolios value. Note: Please round up to the highest % % DEBIT ORDER DETAILS FOR A ONCE OFF DEBIT % % ONCE OFF DEBIT AMOUNT R. ONCE OFF DEBIT DATE - - D D M M Y Y Y Y A maximum of R may be debited from a client's bank account within a 45 day period. I hereby authorise STANLIB Wealth Management Limited to arrange with my bank for the payment of the investment amounts as indicated above, including amendments that may be made during the life of the investment on the specific day as indicated. BANKING DETAILS FOR A ONCE OFF DEBIT BANK BRANCH BRANCH CODE ACCOUNT NUMBER ACCOUNT TYPE CHEQUE SAVINGS TRANSMISSION ACCOUNT HOLDER'S ID NUMBER DR0219 Page 4 of 15

5 ACCOUNT HOLDER'S NAME If the debit order is funded by a 3rd party (spouse included): * For individuals: Certified copy of the third party s identity document with a specimen signature. * For entities: Standard Bank Bank account mandate * Other banks Letter from the bank confirming signing authority and a certified copy of identity document with a specimen signature of the signatory/ies. SIGNATURE OF BANK ACCOUNT HOLDER/ AUTHORISED SIGNATORY STANLIB'S BANK ACCOUNT DETAILS Account name: Classic Investment Plan Bank: Standard Bank Branch: (Sandton) Account number: Reference: New investments: Identity/ registration number and contact number Additional contributions: Contract number RECURRING PLAN DETAILS Applicable to the Classic Investment Plan and Classic Retirement Annuity plan for Unit Trust portfolios. Not available for Structured Portfolios. RECURRING DEBIT ORDER AMOUNT R. DEBIT ORDER DATE 1ST OR 15TH STARTING MONTH - M M Y Y Y Y The minimum recurring debit order amount for a Classic Investment Plan is R1 000 per investment and R500 per portfolio. The minimum recurring debit order amount for a Retirement Annuity is R500. The total portfolio range is restricted to a maximum of 12 portolios including the lump sum portfolios. UNIT TRUST PORTFOLIOS Portfolio Name Portfolio Range (e.g. Classic, Select) Percentage Amount Total: R DR0219 Page 5 of 15

6 ANNUAL CONTRIBUTION INCREASE Should you wish to increase your recurring premium automatically each year, please indicate this below: PERCENTAGE INCREASE PER ANNUM 5% 10% 15% 20% BANKING DETAILS FOR A RECURRING DEBIT ORDER BANK BRANCH BRANCH CODE ACCOUNT NUMBER ACCOUNT TYPE CHEQUE SAVINGS TRANSMISSION ACCOUNT HOLDER'S ID NUMBER ACCOUNT HOLDER'S NAME If thedebit order is funded by a 3rd party (spouse included): * For individuals: Certified copy of the third party s identity document with a specimen signature. * For entities: Standard Bank Bank account mandate * Other banks Letter from the bank confirming signing authority and a certified copy of identity document with a specimen signature of the signatory/ies. SIGNATURE OF BANK ACCOUNT HOLDER/ AUTHORISED SIGNATORY REGULAR INCOME OPTION The regular income option allows you to invest money in a specific portfolio and then draw funds from that portfolio (or from an existing portfolio) on a regular basis (usually monthly). The minimum amount is R500. The payments you receive is redemptions and not income distributions. Where the regular income option is selected participatory interests will be repurchased from the call account or money market fund. Where the Client does not have any such funds then the repurchases will be made from the Client s other investments proportionately. The instruction must reach STANLIB on or before the 14th of the month for payment on the 1st of the following month. WITHDRAWAL AMOUNT R. FREQUENCY MONTHLY QUARTERLY BI-ANNUALLY ANNUALLY FIRST PAYMENT MONTH - M M Y Y Y Y BANKING DETAILS FOR PAYMENTS Payments can only be paid into an account in the name of the client. Payments to third party bank accounts are not allowed. BANK BRANCH BRANCH CODE ACCOUNT NUMBER ACCOUNT TYPE CHEQUE SAVINGS TRANSMISSION ACCOUNT HOLDER'S ID NUMBER ACCOUNT HOLDER'S NAME FINANCIAL SERVICES PROVIDER 1. The Client hereby confirms that he/she has appointed/hereby appoints the Financial Services Provider (FSP) whose FSB licence number is disclosed below for purposes of his/her dealings with STANLIB. 2. The Client agrees that STANLIB will pay the Financial Services Provider (FSP) the charges as set out in this application form. Where the FSP is a legal entity (e.g a company or a close corporation) the FSP is represented herein by the natural person identified in the relevant block below. Where the FSP has a Category II FAIS licence and the Client has mandated the FSP (or it s Representative) to act on his/her behalf in terms of a written agreement a copy of the written agreement must be provided to STANLIB. STANLIB will not act on instructions from the FSP if it has not received a DR0219 Page 6 of 15

7 copy of this agreement. STANLIB is obliged by law to decline any instructions from an FSP who is not properly licensed with the Financial Services Board. 3. Where charges are to be shared between two Representatives, specify the servicing Representative first. 4. Where the Client has terminated his FSP s appointment, it is the Client s responsibility to advise STANLIB of such termination immediately. On receipt of such written notification, STANLIB will cease payment of all charges, other than accrued charges to the FSP. 5. The Client understands that where he/she changes FSP the consequences of such change may result in different or new fund and fees structures. This may result in an increase to the platform service charges. It is the Client s and where applicable the Client s Financial adviser s responsibility to determine the relevant fund and or charge implications. STANLIB will deduct the charges from the Client s portfolios. For further details please refer to the Fee Comparison Tool on STANLIB online. FINANCIAL ADVISER 1 FSP LICENCE NO: STANLIB ID NAME OF SOLE PROPRIETOR OR NAME OF REPRESENTATIVE FINANCIAL ADVISER 2 STANLIB ID NAME OF SOLE PROPRIETOR OR NAME OF REPRESENTATIVE FINANCIAL SERVICE PROVIDER CHARGES (EXCLUDING VAT) INITIAL FSP CHARGE: LUMP SUM INVESTMENT % FSP SERVICE CHARGE % INITIAL FSP CHARGE: RECURRING INVESTMENT % FEE SPLIT: Only available to advisers from the same Financial Service Provider FINANCIAL ADVISER 1 % FINANCIAL ADVISER 2 % TOTAL % TERMS AND CONDITIONS The terms and conditions must be completed and signed by all contracting parties and submitted to STANLIB Wealth Management Limited. The terms and conditions is entered into by and between the Client and STANLIB Wealth Management Limited. (Reg. No. 1996/005412/06) (26/10/590), hereinafter referred to as STANLIB. The Client hereby appoints STANLIB as an administrative Financial Services Provider to administer the investments on behalf of the Client. 1. General terms and conditions 1.1. The Client acknowledges the risks associated with the chosen investment, such as political, currency, regulatory, settlement, market, taxation and premium risk. The Client acknowledges that the capital value and income of collective investments (like unit trusts) or other financial products may fluctuate and past performance is no guarantee of future returns, except where express written guarantees have been given. The Client acknowledges that he/she carries all investment risks. For further disclosure of risk factors and risk ratings associated with collective investments and the Protected Equity Portfolio Range ( PEPR ), please refer to the relevant investment portfolio / PEPR fact sheet STANLIB does not guarantee the performance of the investment, and any guarantees, which are secured, are derived from the investment itself The Client agrees that STANLIB shall be entitled to implement all signed instructions and applications received by facsimile. STANLIB is indemnified against any losses, claims or damages arising from STANLIB acting on such instructions and/or applications Should a portfolio or other investment, other than the PEPR, that the Client has selected no longer be offered on STANLIB's platform, STANLIB shall give the Client a reasonable period of notice within which to switch the investment. Should STANLIB not receive such notification from the Client, STANLIB shall disinvest the Client from the discontinued portfolio or other investment and place the proceeds into a similar portfolio selected and deemed appropriate by STANLIB. In respect of the PEPR no longer being offered this will only relate to any new business and any PEPR investments the Client may have will continue to the applicable Expiry Date STANLIB does not give advice. The Client confirms that no advice was given by STANLIB in respect of this application. If the Client is unsure of the suitability of this product they should obtain their own independent advice This contract will become effective once all requirements have been received from the Client and STANLIB has matched the money received from the Client to the application form. The Client understands that any transactions that are mistakenly processed without all the requirements being satisfied will be reversed 1.7. No payments will be made to third parties Conflicts of interest disclosure: STANLIB shall, wherever possible avoid situations causing a conflict of interest. Where it is not possible to avoid such conflict: STANLIB shall advise the Client, of such conflict in writing at the earliest reasonable opportunity and shall mitigate the conflict of interest in accordance with its Conflict of Interest Management Policy. A copy of this Policy is available on the STANLIB website. STANLIB is part of the Standard Bank Group of companies and both the Liberty Group and Standard Bank Financial Consultancy a division of the Standard Bank of South Africa Limited intermediaries are permitted to sell various STANLIB products. Stonehouse Capital Pty Limited holds equity interests in various FSP s which may result in an unavoidable conflict of interest. Clients of StoneHouse Capital Pty Limited partners, are encouraged to familiarize themselves with the conflict of interest disclosures, as required by their FAIS license, prior to engagement 1.9. Interest: Bank interest at current account rates will be allocated pro rata to the Investors account in respect of the Clients contributions awaiting investment in bank accounts. The deposit DR0219 Page 7 of 15

8 date is included and date of investment is excluded from the calculation The Client hereby declares that he/she has completed the Classic Linked Life Annuity application form and that all information inserted therein by or on behalf of him/her is correct The Client shall make his/her selection from the local collective investment schemes and other investment vehicles, which may be permitted by STANLIB from time to time. The Client shall be entitled to instruct STANLIB to repurchase and purchase units, or invest in or withdraw from the PEPR, on his/her behalf from time to time Either party is entitled to terminate this administrative contract after notice in writing of not more than 60 days, please note that all other terms and conditions pertaining to the underlying investment will still be applicable Dividends tax: SARS will levy a withholdings tax on dividends at a rate of 15% with effect from 1st April If you are an exempt entity or if you are liable for dividends tax at a reduced rate then please download and complete the Exemption form or the Reduced Rates form. These forms are available on The default rate of 15% will be applied to all investors if an Exemption from tax or the reduced rates form is not supplied at the time we receive your Investment application form FICA: The Client hereby agrees to provide all documentation and information required in terms of the Financial Intelligence Centre Act, No. 38 of 2001, and understands that STANLIB is prohibited from processing any transactions on the Client's behalf until all such documentation and information has been received. 2. Specific terms and conditions for the Classic Investment Plan 2.1. The Client hereby declares that he/she has completed the Classic Investment Plan application form and that all information inserted therein by or on behalf of him/her is correct The Client shall make his/her selection from the local collective investment schemes and other investment vehicles, which may be permitted by STANLIB from time to time. The Client shall be entitled to instruct STANLIB to repurchase and purchase units on his/her behalf from time to time Units purchased with the proceeds of a debit order instruction may be repurchased, but the proceeds of such repurchases will not be paid to the Client until the expiry of 60 days from the debit order transaction date STANLIB Wealth Management Nominees (Pty) Ltd has appointed STANLIB to administer investments on behalf of its Clients and to administer the affairs of the fund. 3. Unit Trust Specific terms and conditions, charges and administrative processes 3.1. Investments placed with the Manager are made and will be administered subject to the provisions of the Collective Investment Schemes Control Act, No. 45 of 2002, in accordance with the deeds of the relevant Manager. In the unlikely event of insufficient liquidity, the Manager may borrow up to 10% of the market value of the portfolio An optional investment guarantee on death may be selected by the Client. A charge as indicated under point 8 will be calculated and charged by STANLIB in respect of this benefit. The benefit will be payable on death of the Client, provided that the Client does not die by his/her own hand. The benefit will be paid, subject to the instruction of the executor or trustee, as the case may be, to the beneficiary/ies nominated by the Client and notified to STANLIB. The benefit will be an amount equal to the greater of the investment value at the immediately preceding anniversary of the investment or the investment value at the date of death. The amount of all withdrawals from the Client's investment account and all charges levied against the Client's investment account will be deducted for purposes of determining the value of the benefit To qualify for the optional death benefit, the Client must select at least 4 collective investment portfolios, with a minimum of 15% in each. Where the Client has selected the optional death benefit, STANLIB will levy the following service charge on the total investment value: Age at Next Anniversary Service charge (excl. VAT Below age 65 next 0.10% 65 next to 74 next 0.20% 75 next to 84 next 0.50% 3.4. The collective investment scheme investments will be subject to the deeds of the respective local collective investment scheme/s. An initial manager charge will be payable to the Manager of the local collective investment scheme/s. The purchase of participatory interests ("units") within products will be at a reduced initial manager charge compared to the standard charge levied on units purchased directly from the Manager. Statutory charges will also be levied by Managers and will need to be taken into account in calculating the charges for the investment. A service charge based on the portfolio's market value is also payable to the Manager of the local collective investment scheme/s. For a complete list of the underlying portfolios and charges, please visit The service charge is deducted by the Manager from the income before the declaration of distribution/s. All distributions by the Manager will be reinvested in the portfolio from which the distribution is made. For details on income distributions, please refer to the relevant investment's portfolio fact sheet. The Client understands that manager service charges may be increased. STANLIB will give the Client three months prior notice of such increase Unit prices are calculated on a net asset value basis by determining the total market value of all assets in the portfolio, including any income accruals, less any permissible deductions from the portfolio, divided by the units in issue. The following costs may be deducted from the portfolio: Financial adviser charge, Marketable Securities Tax, Value Added Tax, auditors' charge, bank charges, trustee and custodian charge, Regional Services Council levies and the service charge of the Manager New Business instruction: Where a fully completed and accurate instruction is received by STANLIB head office before close of business (15h30) on business day 1 (and where the relevant funds have been credited to the appropriate STANLIB bank account), the instruction to purchase participatory interests ( units ) will be forwarded to the respective Collective Investment Scheme Managers ( the Manager/s for a market value within 2 business days (for daily priced funds). Where funds are received via a once-off debit instruction, the Client s investment will be priced within 2 business days. The Client hereby indemnifies STANLIB against any loss of any nature which may arise should any funds, credited to a STANLIB bank account, as contemplated above, be reversed for any reason. Where an additional deposit is paid into the respective Wealth Management bank account, the Client must advise STANLIB of such an additional contribution and use the current investment number as a reference. Unidentified deposits will not be allocated to an investment until such time supporting documentation is provided by the Client to prove the payment. Small balances and additional investments will be allocated in the existing fund split if no clear instruction is submitted to STANLIB within 24 hours of making the payment Withdrawal instruction: Where a fully completed and accurate instruction is received by STANLIB head office before close of business on business day 1, payment to the Client will be made by no later than the end of business on business day Switch instruction: Where a fully completed and accurate instruction is received by STANLIB head office before close of business on business day 1, the switch into the new portfolio will be completed by no later than the end of business on business day 4. Please note: The monthly expense run takes place on the 10th of the month. In the event of the 10th being a weekend or public holiday, the expense run will take place on the next business day. The monthly annuity run takes place on the 22nd of the month. In the event of the 22nd being a weekend or public holiday, the annuity run will take place on the preceding business day. Withdrawal and switch requests received during the monthly expense run or monthly annuity run will be processed before the expense/ annuity run. Once the withdrawal/ switch transaction has been priced up the monthly expense/ annuity run will continue. This will generally add up to 2 business days to the above service levels 3.9. Sequential Processing: More than one instruction cannot be processed simultaneously. Once the first instruction has been completed and priced up, the next instruction will be processed. Withdrawals and additional contributions or transfers will take priority in the processing sequence should simultaneous instructions be received. 4. Structured Products Specific terms and conditions, charges and administrative processes General Terms 4.1. The Protected Equity Portfolio Range ( PEPR ) is a group of structured equity linked products offered by The Standard Bank of South Africa Limited ( Standard Bank ). The range PEPR products are: Protected Index Investment (Payment)( PII ) with a 3 year term; Protected Index Investment (Payment)( PII ) with a 5 year term; Capital Accumulator Investment (Payment)( CAI3 ) with a 3 year term; Capital Accumulator Investment (Payment)(CAI5) with a 5 year term DR0219 Page 8 of 15

9 Quantum Plus (Payment)( QP5 ) with a 5 year term Standard Bank and the Client have entered into and/or anticipate entering into one or more Investment Product/s that will be governed by this Agreement, which includes the Schedules and the Confirmation/s issued by Standard Bank for the purpose of confirming or evidencing those Investment Product/s. All Investment Products are entered into on the basis of the terms set out herein together with the specific terms applicable to each relevant Investment Product as set out in the Schedules. In the event of any inconsistency between the terms set out herein and the terms set out in any Schedule, the terms set out in the relevant Schedule shall prevail in respect of the particular Investment Product. The terms set out in the Schedules shall only apply to the particular Investment Product as specified therein and shall not apply to any other Investment Product. 4.3.The Client consents to STANLIB sharing his/her personal information with Standard Bank as required by FICA and for the purposes of investment in the relevant PEPR product The Client acknowledges that he/she is aware of and understands the risks associated with the various PEPR products. The following risks are not a comprehensive summary of all of the risks involved but highlights particular risks to investors: Investment Decisions: By choosing to invest in the relevant PEPR product, the Client is making an investment decision. Neither STANLIB nor Standard Bank provided advice in respect of the choice of PEPR product Dividends: The Client understands that no dividends are payable in respect of any of the PEPR products Obligations of Standard Bank: The value of each PEPR product depends on, among other things, the ability of Standard Bank to perform its obligations under the terms of each PEPR product. The value of the PEPR product may therefore be affected by an appraisal of the creditworthiness of Standard Bank. Failure by Standard Bank to comply with such obligations may result in the investment being worth less than it otherwise would be, and even potentially zero The Client confirms that no advice was given by STANLIB or Standard Bank in respect of any PEPR product. STANLIB is acting herein in its capacity as an administrative financial services provider. Standard Bank is acting herein in its capacity as product provider STANLIB shall register any investments pertaining to each PEPR product in the name of the Client The Client hereby appoints STANLIB as its administrative financial services provider. STANLIB shall obtain instructions from the Client before transacting on his/her behalf Should all applicable completed information and the relevant Investment Amount/s not be reflected in the relevant STANLIB bank account by two Business Days prior to the Commencement Date for the next tranche of the PEPR product, the Client shall be invested in the following month s PEPR product tranche STANLIB reserves the right to not proceed with any PEPR product should there be in STANLIB s opinion, an adverse structural change to market conditions prior to the Commencement Date Should the Client wish to terminate his/her investment in any PEPR product prior to the Expiry Date a termination request for 100% of the PEPR product on a fully completed switch form must be received by STANLIB prior to 11:00 on any Business Day. In the event that the switch form is not received by STANLIB before 11:00 the termination request will only be processed on the following Business Day and the redemption value will be determined with reference to the market value and prevailing market conditions on that Business Day. Please note no partial terminations of the PEPR are permitted Any termination request in respect of any PEPR product will payout the termination value within five (5) Business Days after the receipt of the fully completed termination instruction Each PEPR product is designed to reach maximum benefit when held for the specific term of the PEPR product. The indicative redemption valuation will take into account various factors of the prevailing market conditions into account and associated costs contributing to the unwind of the structure, to create the liquidity to meet the redemption request. It should be noted that the value of an actual early termination may vary due to market conditions from the indicative redemption value. Furthermore, please be aware that if the investment is liquidated before the Expiry Date the redemption value may be less than the initial investment and any protection will no longer apply. The redemption value will be lower than the notional illustrative value because of the factors contributing to the unwinding of the structure. Some of the factors contributing to the unwind may include without limitation the cost of unwinds and the factors that effect that are market movements, interest rate movements and market volatility Although the process for termination of any PEPR product is stated above, the termination and value shall be determined by Standard Bank at its sole discretion and in accordance with the provisions set out in paragraph 4.19 below The Client hereby appoints STANLIB as his/her lawful attorney and agent in respect of any PEPR product, to, inter alia, enter into the relevant PEPR product offered by Standard Bank, and together with the relevant agreements and documents incorporated into this agreement with the necessary authority to act on the Client s behalf, to do all such things, provide all instructions to Standard Bank and enter into all agreements on his/her behalf in respect hereof Definitions and Interpretation Definitions: Unless the context otherwise requires in this Agreement: Agreement means this agreement, the Application Form, the Schedules and the Confirmation/s; Application Form means the Stanlib Classic Linked Life Annuity Investment Form Application Period means the period from the Investment Date to three Trading Days prior to the Commencement Date and is the period during which the Client may submit an Application Form in terms of this Agreement; Calculation Agent means Standard Bank; Cash Settlement Amount means the amount determined in accordance with paragraph 4.16 for the relevant Investment Product; Cleared Funds means cash or EFT transfer only; Client means the person specified in the Application Form; Commencement Date means the date on which the relevant Investment Product commences as specified in the Confirmation; Confirmation means the document issued by Standard Bank to Liberty Group Limited which evidences the Client s investment in the relevant Investment Product and confirms the details of the relevant Investment Product; Early Closure means the closure on any Trading Day of the JSE prior to its scheduled closing time, unless such earlier closing time is announced by the JSE at least one hour prior to the earlier of (i) the actual closing time for the regular trading session on the JSE on such Trading Day and (ii) the submission deadline for orders to be entered into the JSE for execution at the close on such Trading Day; Exchange Disruption means an event that disrupts or impairs, as determined by the Calculation Agent, the ability of market participants in general to effect transactions in or obtain market values for the securities that comprise 20% or more of the level of the Index, or to effect transactions in, or obtain market values for, futures or options contracts relating to the Index on SAFEX; Expiry Date means the last Trading Day of the Investment Term (as defined in the relevant Schedule), as specified in the Confirmation; Index means the FTSE/JSE Africa Index Series Top40 (TOP40) as published by the JSE; Initial Index Level means the closing level of the Index as published or announced by the JSE on the Commencement Date and specified in the Confirmation; Investment Amount means a minimum amount of R for each Investment Product and is the amount invested by the Client in the relevant Investment Product/s as specified in the Application Form and which amount/s shall accompany the Application Form; Investment Date means the date from which STANLIB may submit to Standard Bank a schedule with the details of each Clients investment into the applicable Investment Products and the cumulative Investment Amount to Standard Bank in terms of this Agreement; Investment Product means the specific investment product as selected in the Application Form by the Client and which is specified in the Confirmation. The terms contained in the Schedules to this Agreement shall apply to the relevant Investment Product only; JSE means the JSE Limited; SAFEX means the South African Futures Exchange or any successor thereto; Standard Bank means The Standard Bank of South Africa Limited trading through its division Corporate and Investment Banking with registration number 1962/000738/06; Termination Confirmation means the document issued by Standard Bank to Liberty Group Limited which evidences the early termination of the relevant Investment Product by each Client in terms of paragraph 4.19; DR0219 Page 9 of 15

10 Trading Day means any day other than a Saturday, Sunday or public holiday in the Republic of South Africa; and Trading Disruption means any suspension or limitation imposed on trading by the JSE and whether by reason of movements in the price exceeding limits permitted by the JSE or otherwise relating to securities that comprise 20% or more of the Index, or in futures or options contracts relating to the Index on SAFEX. Each Schedule shall include any additional definitions applicable to the relevant Investment Product Interpretation In this Agreement unless the context indicates a contrary intention any reference to: the singular includes the plural and vice versa; the word person includes a firm, a body corporate, a trust, an association not incorporated and a statutory authority; and one gender includes the other gender and neuter The paragraph or clause headings in this Agreement have been inserted for convenience only and shall not be taken into account in its interpretation Where appropriate, any other part, speech or other grammatical form of words and phrases given a defined meaning shall have a corresponding meaning Cash Settlement: As set out in the relevant Schedule for each applicable Investment Product Market Disruption: As set out in the relevant Schedule for each applicable Investment Product Index Substitution: Substitute Index is the substitute index determined in terms of these paragraphs and below. Converted Substitute Index means the converted substitute index determined in terms of paragraph below. Substitute Index Conversion Factor means the constant determined in terms of paragraph Index Substitution Event: If at any time during the term of this Agreement the JSE ceases to calculate and publish the Index; or another event occurs which makes it (in the reasonable determination of the Calculation Agent) impossible to use the Index as the basis for this Agreement, (each an Index Substitution Event ) then, from the date on which the Index Substitution Event occurs, the Substitute Index shall be substituted for the Index for all purposes relevant to this Agreement Substitute Index: If an Index Substitution Event occurs, the Calculation Agent shall as soon as reasonably possible determine the Substitute Index by: nominating as the Substitute Index an index (calculated by any person) that sufficiently closely approximates the Index or what would have been the Index had it continued to exist, if the JSE publishes another index that it intimates to be a replacement or substitute for the Index, nominating that index as the Substitute Index; or itself calculating the Substitute Index in a manner that sufficiently closely approximates the Index or what would have been the Index had it continued to exist Substitute Index Conversion: For the purposes of all calculations under this Agreement, the level of the Converted Substitute Index on any day is that determined by multiplying the Index Level of the Substitute Index on that day by the Substitute Index Conversion Factor The Substitute Index Conversion Factor: The Substitute Index Conversion Factor is the number which, when multiplied by the level of the Substitute Index on the day on which the Substituted Index is substituted under paragraph 4.18, results in a number which is equal to the level of the Index (or which would have been the level of the Index had it continued to exist) immediately before the substitution occurred Early Termination: As set out in the relevant Schedule for each applicable Investment Product General Notices: Every notice or other communication of any nature whatsoever required to be given, served or made under or arising from this Agreement must be in writing in order to be valid Governing Law And Submission To Jurisdiction: This Agreement will be governed by and construed in accordance with the laws of the Republic of South Africa and the Client consents to the non-exclusive jurisdiction of the High Court of South Africa (South Gauteng High Court, Johannesburg or any successor thereto) Severability: Any part of this Agreement which is illegal, void or unenforceable will be ineffective to the extent only of that illegality, voidness or unenforceability, without invalidating the remaining parts of this Agreement Waiver: A failure to exercise or enforce or a delay in exercising or enforcing or the partial exercise or enforcement of any right, remedy, power or privilege under this Agreement by Standard Bank shall not in any way preclude or operate as a waiver of any further exercise or enforcement thereof or the exercise or enforcement of any other right, remedy, power or privilege under this Agreement or provided by law Entire Agreement: This Agreement constitutes the sole record of the agreement between the parties in relation to the subject matter hereof. Neither party shall be bound by any express, tacit or implied term, representation, warranty, promises or the like not recorded herein. This Agreement supersedes and replaces all prior commitments, undertakings or representations, whether oral or written between the parties in respect of the subject matter hereof Calculations In this Agreement: all calculations and determinations will be made by the Calculation Agent; and all calculations will be done to not less than two decimal places No Reliance on Representations Standard Bank makes no representation or provide no warranties to the Client with regard to the taxation, accounting treatment or performance of this Agreement. Standard Bank also makes no representation or warranty that any indicative performance or return indicated will be achieved in the future. The Client is urged to seek independent tax advice to ensure that these accord with its circumstances and financial planning requirements. The Client represents and warrants that he/she/it has consulted with and has obtained such advice from his/her/its own financial advisor/s as required in terms of the Financial Advisory and Intermediary Services Act, Act 37 of The Client agrees to hold Standard Bank harmless in respect of any income tax, other tax or levy of any nature in respect of which it may become liable or which may become payable pursuant this Agreement Commission or brokerage The Client acknowledges that there may be incentive, remuneration, consideration, commission, fee or brokerage, which will or may become payable by Standard Bank, directly or indirectly, in terms of this Agreement to a third party, and any such amounts payable should be disclosed to the Client by their financial advisor or financial intermediary PEPR Charges: STANLIB shall receive the following fees from Standard Bank : Administration Fee: 0.20% per annum of the Investment Amount (excluding VAT), paid upfront based on the term of the product. Please note that STANLIB reserves the right to reduce this fee at its sole discretion Platform charge: 0.50% per annum, paid monthly in arrears as per paragraph (8) underneath, of the Investment Amount (excluding VAT). Please note on STANLIB this is a classic fund but the platform charge for PEPR does not form part of the Classic groupings for charging purposes It is recorded that Standard Bank may enter into profit sharing arrangements, from time to time, with external Financial Services Providers to facilitate the sale and distribution of the PEPR Changes to details: The Client undertakes to advise STANLIB in writing of any changes to the details set out in the Application Form including any changes to the bank account details Limitation of Liability and Indemnity: In the event that the Client fails to notify STANLIB of any changes to the details as set out in paragraph above Standard Bank shall not be liable for any losses or damages arising from any failure or delay to perform any of its obligations in terms of this Agreement. The Client accordingly indemnifies Standard Bank against any claims, losses, expenses, fees or charges whether direct or indirect arising from any failure to notify STANLIB of any changes to the details set out in the Application Form. Schedule 1 Investment Product: Protected Index Investment (Payment)( PII) DR0219 Page 10 of 15

11 1.1. Definitions Cap Percentage means the percentage as detailed in the Confirmation; Capped Index Level means the Initial Index Level multiplied by the Cap Percentage determined by Standard Bank on the Commencement Date, as specified in the Confirmation; Final Index Level means the closing level of the Index as published or announced by the JSE on the Expiry Date; Investment Term means the period which runs from the Commencement Date to the Expiry Date; Minimum Protected Amount means the amount specified in the Confirmation which shall be the minimum amount returned to the Client under this Agreement; Protected Index Level means the Initial Index Level multiplied by the Protection Percentage as specified in the Confirmation; PII means the cash settled Protected Index Investment (Payment); Protection Percentage means the protection percentage specified as the Minimum Protected Amount divided by the Investment Amount. 2. Cash Settlement 2.1. Standard Bank will pay the Cash Settlement Amount as determined in this paragraph 2 of Schedule 1 to STANLIB two Trading Days after the Expiry Date Where the Final Index Level is below the Protected Index Level: Cash Settlement Amount = the Minimum Protected Amount Where the Final Index Level is above the Protected Index Level but below the Capped Index Level: Cash Settlement Amount = the Investment Amount multiplied by the Final Index Level divided by the Initial Index Level Where the Final Index Level is above the Capped Index Level: Cash Settlement Amount = the Investment Amount multiplied by the Cap Percentage. 3. Market Disruption 3.1. A Market Disruption Event is the occurrence or existence of a Trading Disruption or an Exchange Disruption which in either case the Calculation Agent determines is material, at any time during the one hour period that ends at the closing time of the JSE, as the case may be, or an Early Closure A Disrupted Day means any scheduled Trading Day on which the JSE fails to open for trading during its regular trading session or on which a Market Disruption Event has occurred If any Expiry Date is a Disrupted Day, then the Expiry Date shall be the first succeeding Trading Day that is not a Disrupted Day, unless each of the eight scheduled Trading Days immediately following the scheduled Expiry Date is a Disrupted Day. In that case the eighth scheduled Trading Day shall be deemed to be the Expiry Date, notwithstanding the fact that such day is a Disrupted Day, and the Calculation Agent shall determine the level of the Index at the scheduled closing time of the JSE. 4. Early Termination: The Client may not terminate the PII before the Expiry Date unless agreed to by Standard Bank. The issuance of the Termination Confirmation by Standard Bank constitutes acceptance of the early termination of the PII by Standard Bank. Where the PII is terminated prior to the Expiry Date by the Client or as a result of the operation of any law, Standard Bank shall determine the value of the PII in good faith and in a reasonable commercial manner and may reduce the value of the Cash Settlement Amount to take account of any losses or costs incurred by Standard Bank as a result of the termination of the PII whereafter the reduced Cash Settlement Amount, if any, will be paid to STANLIB. The Client acknowledges and agrees that where the PII is terminated prior to the Expiry Date that he/she/it may receive less than the Minimum Protected Amount Schedule 2 Investment Product: Capital Accumulator 3 Year Investment (Payment)( CAI3 ) 1. Definitions CAI3 means the cash settled Capital Accumulator 3 Year Investment (Payment); Final Index Level means the closing level of the Index as published or announced by the JSE on the Expiry Date; Fixed Return Percentage means the percentage as detailed in the Confirmation; Investment Term means a period of three years and which runs from the Commencement Date to the Expiry Date. 2. Cash Settlement 2.1. Standard Bank will pay the Cash Settlement Amount as determined in this paragraph 2 of Schedule 2 to the STANLIB two Trading Days after the Expiry Date: Where the Final Index Level is less than the Initial Index Level:Cash Settlement Amount = Investment Amount Where the Final Index Level is greater than or equal to the Initial Index Level: Cash Settlement Amount = Investment Amount + (Investment Amount x Fixed Return Percentage) 3. Market Disruption 3.1. A Market Disruption Event is the occurrence or existence of a Trading Disruption or an Exchange Disruption which in either case the Calculation Agent determines is material, at any time during the one hour period that ends at the closing time of the JSE, as the case may be, or an Early Closure A Disrupted Day means any scheduled Trading Day on which the JSE fails to open for trading during its regular trading session or on which a Market Disruption Event has occurred If any Expiry Date is a Disrupted Day, then the Expiry Date shall be the first succeeding Trading Day that is not a Disrupted Day, unless each of the eight scheduled Trading Days immediately following the scheduled Expiry Date is a Disrupted Day. In that case the eighth scheduled Trading Day shall be deemed to be the Expiry Date, notwithstanding the fact that such day is a Disrupted Day, and the Calculation Agent shall determine the level of the Index at the scheduled closing time of the JSE. 4. Early Termination: The Client may not terminate this CAI3 before the Expiry Date unless agreed to by Standard Bank. The issuance of the Termination Confirmation by Standard Bank constitutes acceptance of the early termination of the CAI3 by Standard Bank. Where the CAI3 is terminated prior to the Expiry Date by the Client or as a result of the operation of any law, Standard Bank shall determine the value of the CAI3 in good faith and in a reasonable commercial manner and may reduce the value of the Cash Settlement Amount to be paid to take account of any losses or costs incurred by Standard Bank as a result of the termination of the CAI3, whereafter the reduced Cash Settlement Amount, if any, will be paid to STANLIB. The Client acknowledges and agrees that where the CAI3 is terminated prior to the Expiry Date that he/she/it may receive less than the Investment Amount. Schedule 3 Investment Product: Capital Accumulator 5 Year Investment (Payment)( CAI5 ) 1. Definitions CAI5 means the cash settled Capital Accumulator 5 Year Investment (Payment); Final Index Level means the closing level of the Index as published or announced by the JSE on the Expiry Date; Fixed Return Percentage means the percentage as detailed in the Confirmation; Investment Term means a period of five years and which runs from the Commencement Date to the Expiry Date. 2. Cash Settlement 2.1. Standard Bank will pay the Cash Settlement Amount as determined in this paragraph 2 of Schedule 3 to the STANLIB two Trading Days after the Expiry Date: Where the Final Index Level is less than the Initial Index Level: Cash Settlement Amount = Investment Amount Where the Final Index Level is greater than or equal to the Initial Index Level: Cash Settlement Amount = Investment Amount + (Investment Amount x Fixed Return Percentage) 3. Market Disruption 3.1. A Market Disruption Event is the occurrence or existence of a Trading Disruption or an Exchange Disruption which in either case the Calculation Agent determines is material, at any time during the one hour period that ends at the closing time of the JSE, as the case may be, or an Early Closure A Disrupted Day means any scheduled Trading Day on which the JSE fails to open for trading during its regular trading session or on which a Market Disruption Event has occurred If any Expiry Date is a Disrupted Day, then the Expiry Date shall be the first succeeding Trading Day that is not a Disrupted Day, unless each of the eight scheduled Trading Days immediately following the scheduled Expiry Date is a Disrupted Day. In that case the eighth scheduled Trading Day shall be deemed to be the Expiry Date, notwithstanding the fact that such day is a Disrupted Day, and the Calculation Agent shall determine the level of the Index at the scheduled closing time of the JSE. DR0219 Page 11 of 15