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1 MORNING DIGEST Global overview Selected indices South African indices Previous 5d % 1m % Top 5139,9 99, 1,7,7,9 1,1 All Share 535,3 5577,3 1,,3 -,7 11, Resource 1 355,7 35,9 1,1 3,71, 11, Industrial 5 771, 759, 1, 3,1 1,3 19, Financial ,3 15,7 -,3 -,31 -,3 -,1 Alsi 515, 5375, 1,37,9, 15, Mid Cap 75, 717, 1,15,5-5,7 -, Small Cap 5939,1 595, -,1,1 -,7-3, Gold 13,1 1311,,31 1, -5,1-1,9 Platinum 19,3 1,,1 1,99-7,1 -,1 Banks 7533, 7,, -, -3, 9,19 Property 7, 9, -, -1,99-1,3,1 American indices Previous 5d % Dow Jones 1,7 557,,37 1,,97 1,57 S&P 5 53, 59,1, 1,51,3 13,1 Nasdaq 531,7 51,7,3,3 1,5 1,3 Dollar Index 93, 93,,1,,1 -,3 US VIX 9,5 9,5,3 -,9 -,1-3, European indices Previous 5d % 1m % FTSE 7,1 73,,39,5,,55 DAX 3 19,7 19,7 ---,3, 1,3 CAC 537, 535,,3 1,7,77 1,39 Asian indices Previous 5d % Nikkei 5 1,1, 1,5 1,,9 7,5 Hang Seng 173, 755,3,5,,79, Shanghai 33,9 33,9 ---,1 -,5 7,9 ASX 571, 579,3 -,9,5 -,,3 Early morning trade Last traded % Chg 5d % Tencent 3, 3,,5 3,15,73,1 BHP Billiton ,31,11 1,,35 International economic calendar Selected events and releases 1 Time Area Event / Release Period Exp. Prev. 9:15 SA Standard Bank PMI Sep :55 EUR German Final Services PMI Sep : EUR Final Services PMI Sep :3 GBP Services PMI Sep :15 USD ADP Non-Farm Employment Chan Sep 151K 37K 1: USD ISM Non-Manufacturing PMI Sep :3 USD Crude Oil Inventories M :15 EUR ECB President Draghi Speaks :15 USD Fed Chair Yellen Speaks Local equities JSE All Share companies Best 1-day % performances Caxton CTP Publishing CAT 139, 1,3,39 Omnia Holdings OMN 175, 7,77 -,3 Assore ASR 33 5,9 1,91 9,9 Balwin Properties BWN 7 5,9-1, -,3 Northam Platinum NHM 55 5,1,3,79 Exxaro Resources EXX 1315,99 1, 7,3 Sibanye Gold SGL 157,5,1-37,93 Trustco Group Holdings TTO 5,,53 5,1 Impala Platinum Holdings IMP 37,39,1-3,3 RCL Foods RCL 15 3, -1,9 19,9 Choppies Enterprises CHP 7-1, -,9-1,9 Curro Holdings COH ,57 -,1-9, Group Five GRF 93 -,5-19,35-1,1 Niveus Investments NIV 371-5,7-7, 1, Royal Bafokeng Platinum RBP 3-5,17,7-13,51 Pallinghurst Resources PGL 3 -, -5,5-9,3 NEPI Rockcastle NRP ,59 -,7 11, Sun International SUI 53-3,55 -, -,1 Lewis Group LEW -3,7-9,9-3,95 Murray & Roberts Holdings MUR 155 -,5 -,3 3,55 Dividend data clientcare@privatewealth.sanlam.co.za Worst 1-day % performances African Oxygen AFX cps Aspen Pharmacare APN 7. cps Capital & Regional PLC CRP 1.73 GBPp Capevin Holdings CVH 13. cps Discovery DSY 9. cps FirstRand FSR 13. cps Fiarvest Property FVT 9.3 cps Metrofile MFL 17. cps MAS Real Estate MSP 3.19 EURc 1m % 1m % 5d % 5d % Dividend , 9,1,55,9 3,9 11, Wednesday Oct 17 International indices Normalised % performances - JSE All Share FTSE 1 Shanghai Composite S&P 5 Global indices -Month and 1-month % performances 17, Ex-Div Oct Dividend Murray & Roberts MUR 5. cps Onelogix OLG 5. cps RMB Holdings RMH 17. cps RMI Holdings RMI 5. cps Trellidor TRL 19.5 cps 7,5 1, -3,5 -,1 All Share FTSE Shanghai S&P 5 Gold ($) USDZAR m % 1m % JSE All Share 1 vs 17 1 Jan 1 Mar 1 May 1 Jul 1 Sep 1 Nov 1 17, Page 1

2 Local equities JSE Top companies (Alphabetical) Previous 5d % Anglo American ,7 9,5,99 9,9 Anglogold Ashanti ,3 1,3-1,71-15,7 Aspen Pharmacare ,33 -,, 7, Brait SE , -,13 -,5 -, Barclays Africa Group ,1,15-7,53-1,7 BidCorp 3 315,5, 1,13,1 BHP Billiton 1,77, -1,7 11,5 British American Tob. 5, 1,97 5,5 9,3 Bidvest ,1, 3,11 -, Comp. Fin. Richemont ,9 5,3, 3,5 Capitec ,53-1,1-1,3,7 Discovery 153 1,33,3 -,, Fortress Income (A) ,1 -,7 -,3,9 Fortress Income (B) 3 37,1 -,51-1,55,1 Firstrand Limited ,5 -,7 -, -1,71 Goldfields ,9 1,1 3, 35,1 Growthpoint Prop 33,9 -, -5,1-5,7 Investec Ltd ,9,9-1,39 7,7 Investec Plc ,55,7-1,1,3 Intu Properties Plc 19 1,91 1,9 1,3-1, Life Health Care 3 1,, -,33-5,77 Mediclinic plc 11 11,53, -, -1, Mondi Ltd ,7,97,57 3, Mondi Plc , 3,1,9 3,1 Mr Price Group , -1,1-5,9 1,5 MTN Group , -3,79-5,15-3,3 Nedbank Group 3 1,1,3-7, -1,91 Naspers ,,7,3 51,7 Netcare 31 37,13,5 -,3-7,5 Old Mutual ,3 1,,35 1,3 Redefine Properties 17 19,5 -,9, -3, Reinet Investments 95 9,9,91 5,, Remgro ,1 1,7-3, -5,7 RMB Holdings , -,1 -, -5, Sappi ,5 1,1 11,11,73 Standard Bank Group ,3,15-5,3,9 Shoprite 9 9 -, -1,7-9, 1,35 Sanlam ,1 -,9 -,5,5 Steinhoff Intl ,9 -,37-5,39-17,3 Sasol ,5-1,3-5, -7,7 Tiger Brands ,31,1 -,3-5,7 Vodacom Group , -3,1-1,7, Woolworths Holdings , -,5-3,7-1,1 Expected company reporting schedule Zeder PSG Konsult PSG Combined Motor Hol. Pick n Pay Bank and other preference shares Issuer Nedbank Investec Bank Investec Limited Investec PLC ( ) Standard Bank Firstrand Bank Absa Bank Imperial Holdings PSG Capitec Sasfin Steinhoff Grindrod Netcare Discovery Invicta Clean Yield 1m % Release Date ZED Interim Oct KST Interim 5 Oct PSG Interim 11 Oct CMH Interim 1 Oct PIK Interim 17 Oct Approx. next LDT NBKP 5 9,1 3 Mar INLP 795 1, 7 Nov INPR 737 1,5 7 Nov INPP 93,17 7 Nov SBPP 11,95 Apr FSRP 7 9, 13 Feb ABSP 7 9,3 1 Apr IPLP 739 1,5 1 Mar PGFP 737 1,51 1 Mar CPIP 935,7 1 Mar SFNP 739 1,3 Apr SHFF , Apr GNDP 73 11,3 11 Mar NTCP 71 9,97 May DSBP , Mar IVTP 93 1, 1 Jan South African headlines Selected headlines A weaker rand provided a boost to local markets on Tuesday, with the JSE All Share index surging 1.% to close at 5,35.3 index points. In addition, the Top index outperformed the overall market after it added 1.7%. The platinum and gold mining indices were among the session s top performers, as they gained.1% and.31% respectively. Furthermore, the industrial index also performed well, up 1.%, supported by a.% rally in Naspers as it moved to settle at a new record high of R3,5.73. The resource index also ended higher, helped along by a.7% increase in Anglo American. Lastly, Curro shed 9.57% following the unbundling of Stadio, with the latter closing at R5. per share Resource 1 Industrial 5 Financial 15 Top -,3 SENS Announcements Selected releases JSE Top index Last 1 days 35 JSE Top index 5 Day SMA Day SMA Local indices 1-Year and 1-month % performances,,9 1,3 11,1 Sovereign Food Investments: On Tuesday, SOV released a trading statement for the six months ended 31 August 17. As it stands, Sovereign expects both earnings per share and headline earnings per share to increase by at least. cents. As a result, earnings per share and headline earnings per share are set to be a minimum of 15 cents, sharply higher than a loss per share and headline loss per share of. cents reported a year ago. Lastly, the group will issue an updated trading statement once it has achieved more certainty with regards to the expected earnings per share and headline earnings per share. Cartrack: Yesterday also saw CTK release a trading statement for the six months ended 31 August 17. In it, the group advised shareholders that it currently expects its results for the period to increase by at least % compared to that reported in the previous corresponding period. Furthermore, headline earnings per share are estimated to be between cents and 7 cents, representing an increase of between % and % compared to the 3 cents reported a year ago. Earnings per share are expected to increase by the same margin, also to between cents and 7 cents, up from the 39 cents recorded in 1. Lastly, CTK s results for the period are set to be released on or around the 11th of October 17. NEPI Rockcastle: During the previous session, NRP announced the opening and closing of an accelerated book build. In light of the strong demand, the amount of equity to be raised was increased to approximately R5.bn, or 35mn. In addition, even at this level, the book was oversubscribed. Lastly, the new NEPI Rockcastle shares to be issued, pursuant to the book build process, have been priced at R177 per share.,99 1,7 13, y % 1m % Page

3 Local equities Mid & Small cap companies Mid cap companies Previous 1m % Small cap companies Previous 1m % AECI AFE ,17 -,5-1,17 ArcelorMittal SA ACL ,15 -, Alexander Forbes AFH ,7 1,93-13,5 AfroCentric Inv Corp ACT ,1 3,5 Anglo American Platinum AMS ,11 -,9 31, Advtech ADH ,53 -,77,95 Anheuser-Busch Inbev ANH , 7,31 1,35 Afrimat AFT ,,99 African Rainbow Minerals ARI ,73-1, 9, African Oxygen AFX , 5,9 3,1 Assore ASR ,9 13,9 9,9 Adcock Ingram Hldgs AIP ,3-5,, Attacq ATT ,3,1 9,7 Accelerate Prop Fund APF 51 53,5-1, -3, Avi AVI ,3 -, 5,3 Astral Foods ARL ,99 15,9 3, Barloworld BAW ,1 -,, Ascendis Health ASC ,51 -, -,55 Blue Label Telecoms BLU 17 17,3-1, -, Arrowhead Properties AWA , -,35 -, Capital & Counties CCO 733 1,,7-3,3 Brimstone Inv Corp BRN ,1 -,7 5, Clicks Group CLS ,9 1,7 33,1 Balwin Properties BWN 7 5 5,9 -,3 -,3 Coronation Fund Managers CML , -,95 -,7 Caxton CTP Publish CAT ,,35,39 Curro Holdings COH ,57-7, -9, Calgro M3 Holdings CGR , -7,95-5, Capitec Bank Holdings CPI ,53-1,3,7 Choppies Enterprises CHP 7 3-1, 1,9-1,9 Dischem DCP , -,9 7,3 Cons Infrastructure CIL , -11,3-7,5 Distell Group DST ,1-1,1 City Lodge Hotels CLH ,33-3,73-7,5 Datatec DTC 5 573,7,7 1,55 Clientele CLI ,77 5,3 EOH Holdings EOH ,75-1,9 -,7 Clover Industries CLR ,15-17,3-3, Exxaro Resources EXX ,99 3, 7,3 Capital & Regional CRP , 13,9 Famous Brands FBR ,57-1,9-5,3 Cashbuild CSB ,1,33 9,3 Harmony HAR , -5, -1,7 Capevin Holdings CVH 5-1, -5,7-9, Hosken Cons Invest HCI ,33-7, -7,15 Delta Property Fund DLT ,33-7,5 Hyprop Investments HYP , -7, -9,7 Emira Property Fund EMI , -,3-7,91 Impala Platinum IMP 37 31,39-1,3-3,3 Grindrod GND ,5 3,1,3 Imperial Holdings IPL , -,9,9 Group Five GRF ,5-33, -1,1 Italtile ITE 1 175,71-7,3-7, Hudaco Industries HDC ,3-5,,5 JSE JSE ,57 -, -,7 Holdsport HSP ,7 1,5 KAP Industrial Holdings KAP 55 1,5 3,1 1,3 Investec Australia IAP ,5 5,19 1,9 Kumba Iron Ore KIO 31 3,7 7,,5 Investec Property Fund IPF ,7 1,3,39 PSG Konsult KST ,11 -,11 1,5 Invicta Holdings IVT , -1,7-9, Liberty Holdings LBH 1 153,5,35 -,7 Lewis Group LEW 75-3,7-19,39-3,95 Life Healthcare Group LHC 3 1, -,33-5,77 Mpact MPT ,9-7,17-1, Lonmin Plc LON ,9-7,9 -, MAS Real Estate Inc MSP ,17 1, 9,71 MMI Holdings MMI ,1-17,5 -, Metair Investments MTA ,95 -,9-19,7 Massmart Holdings MSM ,53-1, -1,5 Murray & Roberts MUR ,5-5,3 3,55 NEPI Rockcastle NRP ,59-5,33 11, Niveus Investments NIV ,7 -,9 1, Northam Platinum NHM 55 5,1,33,79 Net 1 UEPS Technologies NT ,91 -,5 Nampak NPK ,9 -, -5,9 Novus Holdings NVS 53-1, -1,35-3, Oceana Group OCE 1 3,,9 -,33 Octodec Invest OCT 1,79, 3, Omnia Holdings OMN ,, -,3 Pan African Resources PAN 3 3,5 -, -,9 Pioneer Foods Group PFG ,5 -, -,5 Pallinghurst Res PGL 3 5 -, -,7-9,3 Pick n Pay Stores PIK ,7-9,1-9,9 Peregrine Holdings PGR 9 9,7 -, -3,3 PSG Group PSG ,73 -,39, The Pivotal Fund PIV ,1,7 RCL Foods RCL , ,9 PPC Limited PPC 7 3,37 1,7 17, Resilient REIT RES ,9, 1,1 Royal Bafokeng Platinum RBP 3 3-5,17-5,95-13,51 Reunert RLO 79 1,35-1, 1,1 Raubex Group RBX ,13-15,1-1,79 Redefine International RPL ,39,55 Rebosis Property Fund REB ,5 1,3-3,9 SA Corp Real Estate SAC ,3-1,1 Rhodes Food Group RFG 13 13,11 -, -3, Sappi SAP ,5 11,11,73 Schroder European REIT SCD ,5 1,7 3,73 Santam SNT , -3, 9,19 Stenprop STP , 3,57 3,51 Super Group SPG 95 9,1,9 11,1 Sun International SUI ,55-13,5 -,1 The Spar Group SPP 1 115,7 -, -1,1 Spur Corp SUR 95 9,,93 -,7 The Foschini Group TFG , -1,3-1,5 Transaction Capital TCP , 1,13,77 Telkom SA SOC TKG ,5 -,51 -, Tradehold TDH ,3-1,15 Tongaat Hulett TON , -,1-1,9 Texton Property Fund TEX 9 9,9 -, -11,11 Truworths International TRU ,5-1,77 -,93 Trencor TRE ,3 -,31 33,9 Tsogo Sun Holdings TSH 15 -,35-7,7 -,99 Trustco Group TTO 5 5, 1, 5,1 Vukile Property Fund VKE ,51,3 5, Wilson Bayly Hlm-Ovc WBO ,3,11 -, Zeder Investments ZED 5 55,51-5,9-1, Page 3

4 Global markets European indices Normalised % performances European headlines Yesterday saw European markets end mostly higher, albeit only marginally so, as investors digested new data releases. Overall, the Stoxx index added.15% to settle at 39.7 index points, helped along by a.39% increase in the FTSE 1. Furthermore, the French CAC ended.3% higher, while the German DAX was closed due to a public holiday. Spain s IBEX was mostly unchanged however, up.%, as political uncertainty in the Catalonia region lingered. Lastly, retail shares performed well yesterday, up 1%, with Carrefour and Sainsbury both closing in positive territory. European indices Previous m % 1m % FTSE 7,1 73,,39,55,9,55 DAX 3 19,7 19, ,7,75 1,3 CAC 537, 535,,3 5,53,5 1, FTSE DAX 5 53 CAC -5 - FTSE 1 DAX CAC American indices Normalised % performances 1 1 S&P 5 Dow Jones NASDAQ Asian indices Normalised % performances Shanghai Composite Hang Seng Nikkei American headlines Wall Street extended its recent rally on Tuesday to reach new all-time highs, with markets benefitting from an uptick in airline shares and the release of some positive data. The Dow Jones led the region s gains, up.37% to settle at,1.7 index points. Meanwhile, the S&P 5 added.% to end higher for a th consecutive session. Gains were led by a.% increase in Delta, while United Continental and American Airlines added.1% and 5.% respectively. This uptick was mainly due to estimates that the impact and costs from Hurricane Harvey and Irma were lower-than-expected. Lastly, the NASDAQ ended.3% higher at,531.7 index points. American indices Previous m % 1m % Dow Jones 1,7 557,,37 9,, 1,57 S&P 5 53, 59,1, 7,5 17, 13,1 Nasdaq 531,7 51,7,3 1,1 3, 1, Asian headlines Asian markets were mostly higher this morning, with the exception of the Australian ASX, helped along by yet another overnight rally on Wall Street. The Hang Seng led the region s gains, up.7% at, index points, with the index set to end higher for the 3rd consecutive session. Meanwhile, the Nikkei had risen.%, on track to extend yesterday s 1.5% increase. In contrast, the Australian ASX fell.7%, weighed down by a decline in energy and financial shares. Lastly, Chinese markets remained closed yet again this morning. Asian indices Dow Jones S&P 5 Previous m % 5 1m % Nikkei 5 1,1, 1,5,59,19 7,5 Hang Seng 173, 755,3,5 1,1 19,, Shanghai 33,9 33, ,9 11, 7, Nikkei Hang Seng NASDAQ Shanghai 35 Page

5 Commodities & currency pairs Selected headlines Commodity Last traded % Chg 1m % Gold ($) 17,,37 171,59, -, 1, Platinum ($) 91,3,71 91,3 -, -9,37 1,15 Silver Brent Crude ($) 1,7 55,71,7, 1, 55,7,31 -,7 -,17 5,1, -, Copper 5,, 5,,1 -, 17,79 Palladium 9,, 915,5, -,3 3,11 Natural Gas,9,,9 -, -5,5 -,13 Coffee 1,5, 1,5-1,3 -,79 -, Corn 39,5 -,9 35,5 -, -1, -,3 Brent Crude ($) Last 1 days Commodity headlines Last updated 7: During the previous session, oil prices continued to trade lower, weighed down by concerns of increased production. By the close, Brent crude had fallen.%, or $.1, as it moved to close at $5. per barrel. In addition, the industrial commodity fell.% this morning to $55.3 per barrel, negatively affected by concerns that the 3rd quarter rally would fade during the last three months of the year. Lastly, spot gold performed well this morning, with the precious metal adding.% to trade at just above the $1,75/oz level. 13 Spot Gold ($) Last 1 days Brent Crude 5 Day SMA Day SMA Platinum ($) Last 1 days Platinum 5 Day SMA Day SMA Currency Pair Last traded % Chg 1m % USDZAR 13,19 -,35 13,5, 5,55 -, GBPZAR 1,5 -,11 1,79,1 7,5,7 EURZAR 1, -,11 1,1,5,51 1,97 AUDZAR 1,993 -,1 1,7,55 3,,19 EURUSD 1,177,3 1,17,1 -,9 11,5 USDJPY 11,51 -,9 11,,,3-3, GBPUSD 1,3, 1,3 -,7,1 7,3 USDCHF,9719 -,17,9735 -,1,9 -,35 AUDCAD,9,1,97 -, -,91 1, Selected currency pairs Normalised % performances 1 11 Spot Gold 5 Day SMA Day SMA Currency headlines On Tuesday, the rand continued to weaken, despite getting off to a strong start. This slump in the rand was once again mainly attributed to a firm dollar, with the greenback buoyed by upbeat data releases. In addition, the dollar has been recently supported by hawkish commentary from US Federal Reserve officials. After a previous close of R13.599/$ on Monday, the rand was at a high of R13.577/$ at :5. From there, the rand slumped to a low of R13.73/$ at 1:, before moving to trade at R13./$ at 17:. Lastly, the local currency managed to erase some of its losses overnight as it moved to just above the R13./$ level this morning. 13,9 13,7 USDZAR Last 1 days 13,5 13,3 13,1 1,9 1,7 1,5 Brent Crude 5 Day SMA Day SMA EURUSD Last 1 days 1, 1, 1, USDZAR EURUSD USDJPY 1,1 1,1 1,1 1,1 1, 1, EURUSD 5 Day SMA Day SMA Disclaimer: This note is prepared for Sanlam Private Wealth (Pty) Ltd, by K (Pty) Ltd trading as Thompson Green. Thompson Green is an independent company contracted to Sanlam Private Wealth (Pty) Ltd. The views expressed in this note are those of Thompson Green and/or its analysts and not necessarily the views of Sanlam Private Wealth (Pty) Ltd, Sanlam or any officer or agent thereof. K (Pty) Ltd trading as Thompson Green is a research house and not a registered broker, financial advisor or financial service provider. Our editors and customer services teams also do not give personal investment advice. The information in this document is general advice only and may not be appropriate to your particular investment objectives, financial situation or particular needs, so before investing or if in any doubt about your personal situation, you should seek professional advice from a stockbroker or independent financial adviser authorised by the Financial Services Board. We research our recommendations and articles thoroughly, but disclaim all liability for any inaccuracies or omissions in this publication and any trading or investment losses you may incur. Should you outperform inflation, we will take the credit. Thompson Green also acts as an Introducer of Business to Authorised Financial Services Providers. All accounts opened are held by the Authorised Registered Financial Services Provider and not Thompson Green. The information in this is confidential and may be legally privileged. It is intended solely for the addressee. Access to this by anyone else is unauthorised. If you are not the intended recipient, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful. If you are not the intended recipient please return the message to the sender and delete it from your records.