Type: Passive ETF

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GC35 Namibia 9.5% 15072035 (12.29%), GC50 Namibia 10.25% 15072050 (11.78%), GC32 Namibia9.00% 15042032 (11.66%), GC30 Namibia 8.00% 150130 (11.38%), GC28 Namibia 8.5% 15102028 (10.45%), GC40 Namibia 9.8% 15102040 (10.36%), GC37 Namibia 9.50% 15072037 (10.02%), GC45 Namibia 9.85% 15072045 (9.23%), GC43 Namibia 10% 15072043 (8.02%), GC48 Namibia 10% 15102048 (3.28%)

The Portfolio has been established with the intention of allowing an Investor to obtain market exposure to the Top 10 largest Sovereign Bonds issued by the Government of the Republic of Namibia. The Portfolio will track and replicate the total return version of the S&P Namibia Sovereign Bond 1+ year Top 10 Index in local currency of the Republic of Namibia, an index whereby each constituent bond has a maturity of greater than or equal to 12 months. The index is created and maintained by S&P Dow Jones Indices and is a subset of the full Namibia Sovereign Bond Index. The Portfolio will replicate the performance of the index in local currency, rebalance monthly in line with the Index, and reinvest all income received by the Portfolio into the constituents securities of the index thereby increasing the net asset value of the Portfolio. The Portfolio will be listed on both the Namibian Stock Exchange (NSX) and Johannesburg Stock Exchange (JSE) as an Exchange Traded Fund (ETF) and can be traded throughout any trading day at prevailing market prices.