STANDARD TRUST

I wrote previously on m y experience with appointing Standard Bank as executors of your estate. The answer I received was pathetic to say the least. The staff at Standard Trust, who are housed in offices in Hyde Park, which is a new building obviously built by them, with furnishing and decor that is better than a five star hotel, are not trained properly. Management avoid telling the truth in such a clever way, that they make you feel like you are going mad. My daughter, who passed away 19 months ago and was an employee of Standard Bank, estate was only closed off 15 months after she passed away when we were informed that her estate was insolvent and Standard Bank closed their file. No help, blatant lies by management, and incorrect asset and liability statement was all blamed on their staff and we were informed that they used the amounts that they had and could not establish the correct amounts due to them being unable to obtain these, even though her bond ,car and credit card as well as bank accounts were held at Standard Bank. They then told me that the Master Of the Court would contact me to ask me if I would be the executor. When I called in to say that this had not happened and asked what I could do they told me that their file was closed and that they no longer had anything to do with this. See below answer I received via Hello Peter on my last review. "Good morning Cheryl Standard trust confirmed that they renounced their nomination as executors of the estate, however this was taken up. I hereby would like to advise you that Standard trust would not be assisting with a letter of executorship. You would have to visit the master of the high court. Kind regards Xavier Classie Connsultant Hello Peter SRU CRC Voice Branch" In this reply due to my review on Hello Peter, I am informed that I have to go to the Master of the HIgh Court. Please see below email from the estate manager who was dealing with this matter: "Dear Mrs Klaasen Kindly do take note that the original will was accepted by the Master of the South Gauteng High Court, Johannesburg on 31 October 2018. A copy of the accepted will is attached hereto for your reference. For reasons unbeknown to us the accepted original will was returned to our offices by the Master of the High Court, this despite having informed the Master that we have renounced our nomination in the estate. A copy of the relevant correspondence to the Master of the High Court is attached hereto for your reference. We confirm that we will despatch the accepted original will to the office of the Master on Monday, 09 September 2019, and will inform you accordingly. Kind Regards Moeketsi Mooko Standard Trust Limited / Estates / Manager 184 Hyde Lane / Hyde Park / Sandton / 2196 Tel +27 (0)11 *** www.standardbank.co.za/standardtrustlimited" From: Mtolo, Welile W [mailto:***] AND THIS I RECEIVED A YEAR AFTER MY DAUGHTER PASSED AWAY Sent: 20 May 2019 04:27 PM To: *** Cc: *** Subject: ESTATE LATE T-L M' CRYSTAL Dear Mrs Klaasen, The above matter refers. It is with regret that we have learnt of the passing of Miss Taryn Lee M’ Crystal. Management and staff of Standard Trust Limited wish to extend to you and your family our sincere condolences. We hereby confirm that we have renounced the Nomination of Standard Trust Limited as the Executor in terms of the Last Will and Testament dated 15 July 2015. We enclose the following documents for your attention: 1. Copy of our Letter of Renunciation which was sent to the Master of the High Court on 15 May 2019; 2. Copy of the Last Will and Testament dated 15 July 2015. In light of the above mentioned, we confirm that we are now closing our file. For future communication, kindly direct all your queries to the Master of High Court. Kind Regards Welile Mtolo Standard Trust Limited / Estates / Officer 184 Hyde Lane / Hyde Park / Sandton / 2196 Tel +27 (0)11 *** "

During this time we received a meeting request from the manager of the pension and group life fund for my grandson. He came to our offices with a colleague who looked like he was about o fall asleep, slumped on the chair. Every question that my husband asked, this man could not answer. He gave us the incorrect amount on the administration fees charged and was not sure what we could and could not claim for. After this meeting he put into writing that the fees excluded VAT and did not advise us that there was an additional management fee and an additional fee on the pension fund. . "Devan called me to set up a meeting on how to go forward with the process for Joshua. During that conversation I forgot to ask him something and dialed his office landline number. This number rang for 20 minutes with no answer. They have assured me that this will not happen in the department that I have to deal with in the future. He advised me that he would, during our meeting, let us know exactly what items could be claimed for regarding Joshua. He arrived with forms that I had to sign and that is all he was concerned about. When asked about taxation on the funds, he advised that the monthly income was taxed but was not sure of the rates. He did not bring along any information or discuss what could be claimed for. He then requested that we do an excel spreadsheet of all expenses incurred by Josh and send it to him to look at. “I also confirmed with you that Standard Trust’s annual management is 1.78% (excluding vat) “ He at no time mentioned VAT at all and this once again is an omission of the facts. “I mentioned that for us to process the initial adhoc payment request we require the invoice and proof of payment to reimburse you, thereafter we will pay the service provider directly so there is no need for you to do any more payments directly so there is no need for you to do any more payments.” What does this even mean? There will always be a need to pay monies over to myself as there are expenses for a young child like food, over the counter medicine, after school activities that require immediate payment so that he can participate, clothing, school uniforms for winter and unless someone from Standard Bank is going to come with me to purchase clothing, groceries, new shoes etc, which by the way, was supposed to be discussed with me by Devan and was not mentioned in the meeting . Perhaps you could shed some light on the way in which this works. He was supposed to discuss what we could claim for and what would not be paid by the fund but all he actually wanted were the signed forms from me so that his job was done. Perhaps some kind of information brochure or just a typed out information sheet would be useful in situations like these as the questions we had to ask him were heart breaking and I actually cried through the entire meeting. “I also previously advised you that the Principal Officer re confirmed their decision to pay to the Standard bank Umbrella fund provided we can transfer income and adhoc payment to New Zealand or other offs**** jurisdictions which is well within our capability.” Which adhoc payments would he be referring to regarding New Zealand if only one adhoc payment can be made to me here? What he actually told us was that any funds needed would be paid to us quarterly due to the expense of transferring money to another country. “ The role of the beneficiary fund (Standard Umbrella Beneficiary Fund) is to ensure that the Funds of the minor beneficiary are protected, preserved and used solely for the benefit of the minor child which was previously communicated with yourself and your spouse. “ Who specifically told myself and my spouse that Josh’s money was to be used for him and his needs only? At the meeting on the 5th March, was the first time that my spouse had any dealings with anybody from Standard Bank besides one meeting regarding the estate. We did not even know that the Standard Bank Umbrella Beneficiary Fund existed, until this e mail , and as Josh’s legal guardian, and a mother of five grown up children, who all attended Marist Brothers and Wits and are qualified individuals, I know the costs involved in bringing up a child. Devan told us that Alexander Forbes were given the task of the decision making regarding where the funds had to be paid to. To even suggest to me that Taryn’s money is for the sole benefit of Josh is such an insult, especially when I have lost my daughter and every day is a battle. We have managed to look after Josh very well without any help and I know for a fact that Taryn was not given all the correct information either. My child died and the fact that Standard Bank have 12 000 people to deal with is not my problem. Would anybody in their right mind want to inherit money from their own child, however, believe it or not, Josh is our first priority and if it weren’t for him, I don’t think I could even get up in the morning. Instead, my husband and I run a business and work extremely hard, which I did explain and I do not have time for this. “The decision to distribute the benefits according to Section 37C of the Pension Funds Act, was made by the Board of Trustees of the Standard Bank Group Retirement Fund, and not by Standard Trust Limited as we are separately divisions within the bank. Kindly note that Alexander Forbes is the administrator of the Standard Bank Group Retirement Fund and their role is limited to administrating the Pension Fund and not to make any decisions related to the Death Benefits distribution. “ Please see below the information I received from Alexander Forbes which totally contradicts what advised to me by Alexander Forbes." "Dear Cheryl, Thank you for taking my call earlier today. The following are documents/information required from you: For T M’Crystal • ID copy • Death certificate • Copy of the will • Property documents • Vehicle documents • Outstanding debts documents (credit cards, loans, clothing/furniture accounts) • A copy of the will For Cheryl: • ID Copy together with T M’Crystal fathers ID Copy. • Marriage certificate • Medical Aid Certificate (which shows Joshua as a dependent) • A written confirmation of your level of dependency on your daughter and also state that you have no knowledge of Joshua’s fathers whereabouts. • Payslip and bank statement (as Joshua’s benefit will be paid to you) For Joshua: Birth certificate School letter (currently) Additional Information • What other benefits did you receive for your late daughter (life covers, funeral benefits, investments)

Siblings: Did she have sisters and brothers who were dependent on her (please provide us with names and surnames). Siblings will need to send us the following: • ID copies • Written confirmation that they were or were not dependent on her. Should there be any other information required we will contact you. Thanks. Kind Regards, Nomthi Klaas | Consultants & Actuaries | FINANCIAL SERVICES Tel + ***7| Fax: +***7 | *** 2016 Awards | PMR Diamond Arrow Award – Best Consulting and Actuarial Firm – 9th consecutive year | PMR Diamond Arrow Award – Pension Fund Administrator – 9th consecutive year Alexander Forbes Financial Services (Pty) Ltd | +***0 | PO Box 787240, Sandton, 2146, South Africa | Alexander Forbes, 115 West Street, Sandown Co. Reg. No. *** | FAIS Licence No.1177 | An authorised financial services provider | www.alexanderforbes.co.za

Absolutely nothing was given to us in writing at the meeting with Devan as to what could be claimed for. I have just been given the task of providing all payments for the past nine months made on Josh’s behalf and doing an excel spreadsheet of what we think should be claimed for without any information of what we can claim for and due to the fact that nobody bothered to inform us from the beginning, when they were supposed to contact me and didn’t, it has now become a mammoth task. Even when dealing with Alexander Forbes, not once did anybody inform me to keep all proof of payment and purchases. This entire process is making me so anxious and ill. I cannot even begin to explain how devastated I am that I have to be doing this. We would like to meet with somebody who can give us the correct information on all our questions. Please contact me at your earliest convenience. Kind regards Cheryl Klaasen Mobile: ***

I have lost all trust in Standard Bank and as one can see by reading through this review, they contradict themselves all the time. Nothing is ever clarified and in future I am recording everything that they say to me and I should have done this from the beginning but unfortunately after losing my daughter I was too emotional to deal with these issues. As a member, Standard Trust Limited is subjected to the Code of Conduct of the Fiduciary Institute of Southern Africa (FISA)