1. Nedgroup Private Wealth Stockbrokers (Pty) Ltd ("NPWS") maintains this website (the "Site") and the products and services ("the Services") applicable thereto.

2. By accessing, registering your information with NPWS, and/or applying or utilising any Services of this Site, you ("the user"), agree that you have reviewed the Site in its entirety, that you have accepted the disclaimer and terms and conditions set out herein, including all legal and regulatory terms, and are conversant with and understand both the terms of this Site and the applicable local legislation and regulations.

3. Unless otherwise stated in the terms and conditions relating to specific products or services, the laws of the Republic of South Africa will govern all terms and conditions of any product or service contained in this Site. Should you apply for any product or service through this Site, you hereby consent and submit to the jurisdiction of the South African courts in regard to all proceedings, actions, applications or the like instituted by NPWS against you or vice versa, and in any way arising in connection with any stated terms and conditions, or the Services provided in the Site or any matter related to or in connection therewith.

4. NPWS does not represent that information and materials on this Site are appropriate for use in all jurisdictions available on the World Wide Web, or that transactions, securities, products, instruments or services offered on this Site are available or indeed appropriate for sale or use in all jurisdictions, or by all investors or other potential clients. Users who access and utilise this Site do so on their own initiative and at their sole risk, and shall comply with all laws, rules and regulations which are now or in shall in the future be laid down by any authority or agency regulating the operation or use of this Site.

5. The information contained in this Site does not constitute an offer of or an invitation to apply for any NPWS product or service in any jurisdiction where such offer or invitation is unlawful, or any jurisdiction in which NPWS is not qualified to make such offer or invitation, or to persons to whom it is unlawful to make such offer or invitation. Users resident outside the Republic of South Africa are advised to consult legal and/or investment specialists before taking any action.

6. The copyright and all other rights contained in this Site are held exclusively by NPWS or third parties who have supplied information to NPWS. NPWS reserves the right to take action in respect of any unauthorised reproduction, adaptation, retransmission, broadcast, performance, dissemination, sale, publication or other communication to the public of the information contained herein, exploitation or use of this material and the trade marks, logos or service marks (whether registered or not) of NPWS or other parties represented on this Site. Nothing contained on the Site should be construed as granting any licence or right to use any trademark without the written permission of NPWS.

7. While every care and effort has been and is continuously taken to ensure the accuracy of information provided on this Site, and to update it on a regular basis, NPWS makes no representations or warranties, either express or implied, as to the accuracy, completeness or reliability of information contained on these pages and shall not be bound in any manner by the information contained in these pages. In addition, NPWS accepts no liability whatsoever for any loss, whether direct, indirect or consequential, arising from information made available on these pages and actions or transactions resulting therefrom. All information regarding the products and services, including information in respect of their terms and conditions and any other information is subject to change without notice.

8. Websites accessed through links provided by NPWS are not under NPWS' control, and the material available on these sites has been produced by independent providers that are not affiliated with NPWS. Any opinions or recommendations expressed are solely those of the independent providers and are not the opinions or recommendations of NPWS. NPWS makes no representation as to their content, and is not responsible for their content. Use or reliance on any external links provided is at the user's sole risk.

9. Part of the information contained in this Site is supplied to NPWS by various independent third parties. Information obtained from and by the independent third parties (the "Information") is believed to be reliable. However, the receipt of such information is dependent on such third parties and complex infrastructures for delivery over which NPWS has no control. NPWS therefore does not guarantee the timeliness, sequence, accuracy, adequacy, or completeness of such Information. NPWS gives no express or implied warranties (including, but not limited to warranties of merchantibility or fitness for a particular use) with respect to the Information. Neither NPWS nor any independent third party providing or transmitting the Information shall be liable in any way, and you agree to indemnify and hold harmless NPWS and the independent providers/transmitters for (1) any inaccuracy, error, or delay in, or omission of (a) any Information, or (b) the transmission or delivery of Information; (2) any loss or damage arising from or occasioned by (a) any such inaccuracy, error, delay, or omission, (b) non-performance, (c) interruption of Information due either to any negligent act or omission by NPWS or providers/transmitters of Information or to any "force majeure" (i.e. flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government, communications, power failure, or equipment or software malfunction) or any other cause beyond the reasonable control of NPWS or the Information providers/transmitters.

10. All products and services offered in this Site are subject to the signature of the requisite application forms, mandates and other documentation relating thereto and are governed by the terms and conditions in respect thereof, and NPWS shall not be bound in any manner until such requisite documentation has been signed by you and accepted by NPWS.

11. No research, opinions, information or content contained in the Site's pages shall be construed as cons or solicitation to buy or sell any securities or derivatives and is offered for information purposes only. Any views expressed do not necessarily represent the views of NPWS itself. Research published has been issued by Nedgroup Private Wealth Stockbrokers (Pty) Limited. It is confidential and issued for the information of clients only. It shall not be reproduced in whole or in part without our permission. The information contained herein has been obtained from sources which and persons whom we believe to be reliable but is not guaranteed for accuracy, completeness or otherwise. All opinions expressed and recommendations made are subject to change without notice. No information contained herein, no opinion expressed and no recommendation made constitutes a representation by us or a solicitation for the purchase of securities mentioned herein and we have no responsibility whatsoever arising herefrom or in consequence hereof. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. The recipient of this report must make its own independent decisions regarding any securities or financial instruments. Past performance is not indicative of future results, and investors may get back less than they invested. The inventories of Nedgroup Private Wealth Stockbrokers (Pty) Limited and its employees may from time to time include securities mentioned herein.

12. Unless otherwise stated, all monetary amounts documented in this Site are in South African Rand.

13. You acknowledge that NPWS will act on any instruction purporting to emanate from you whether in written, electronic or any other format. NPWS will not be required to enquire as to the origin of any instruction utilising your Username or Password, and NPWS shall not be held liable as a result of the unauthorised use of the Username or Password, which shall be kept secret and secure by you.

14. NPWS will use its reasonable endeavours to carry out all securities related instructions received from the user through this Site, or from the user in person, in written form, by telephone or via other electronic means. However, you shall not hold NPWS liable for, and you hereby indemnify NPWS against, any claim arising from the late or delayed processing of your instructions. You agree that any such instructions issued are solely at your risk.

15. NPWS reserves the right to reject, in its sole discretion, any application for Services contained on this Site. You acknowledge that NPWS may undertake a credit risk inquiry and you hereby grant your consent thereto.

16. NPWS reserves the right to terminate your access to the Site or Services, and to take any other action NPWS deems appropriate, in its sole discretion, without limitation for any reason whatever, including but not limited to the unauthorised use of your client account number(s), and breach of the New Client Mandate.

17.During periods of heavy trading and/or wide price fluctuations there may be delays in executing your order or providing trade status reports to you. NPWS is not liable to you for any losses, lost opportunities or increased commissions that may result from such delays. You acknowledge that your order is not be reviewed by a registered trader before being routed to an exchange for execution and you also will not have the opportunity to ask questions or otherwise interact with a NPWS representative. By placing a trade through the Site, you voluntarily agree to assume any added risk that may result from the lack of human review of your order.

18. Access to NPWS's Services on the Site may be limited or unavailable during periods of peak demand, market volatility, systems upgrades, maintenance or for other reasons. If the Services are unavailable or delayed at any time, you agree to use alternative means to place your orders such as calling a NPWS representative or visiting NPWS' offices. NPWS will not be liable to you if you are unable to access your account information or request a transaction through the Site.

19. You understand that in order for NPWS's Services, including future Services available from NPWS, to perform to your satisfaction, or at all, you are solely responsible for the hardware, software or other technology you use to access such Services. NPWS will not be responsible for any Service difficulties resulting from your failure to possess technology adequate to use NPWS's Services to your satisfaction.

20. NPWS and its officers, directors, partners and employees, including persons involved in the preparation or issuance of this document, may from time to time have positions in the securities mentioned on the Site and may add to or dispose of such securities.

21. NPWS reserves the right at any time to change or discontinue without notice, any Service, aspect or feature of this Site.

22. Prevention of Organised Crime: In terms of the Prevention of Organised Crime Act, 1998 (Act 121 of 1998), NPWS is obliged to report any receipt of funds that it has reason to suspect forms the proceeds of unlawful activities. For further information contact NPWS' Compliance department on 011 294-9000.

23. You acknowledge that you have read and accepted the terms of NPWS's New Client Mandate and the "Settlement Obligations Of Controlled clients" regulations as published by the JSE Regulations.