Stokvel Agreement Letter

• Benefits are all proceeds from the payment of assets purchased by The People`s Funds and contributions made by the member during the period. Excluded are all expenses, debts or losses incurred by the Stokvel in relation to the member`s contribution. • Benefits are only paid after 5 years since the creation of the group. • Money in the organization is deposited into a Quick Access account. • The President is appointed by the Group and authorized to establish or act a relationship with StokFella on behalf of The People`s Stokvel. • Signing authority and transaction authorization on the StokFella platform option is held by the President, Treasurer and Group Secretary. • Only the instructions and authorizations of the authorization process of the StokFella platform are processed and processed. • As members of the group, we agree with our Chair to accept StokFella`s non-discretionary mandate. • If the authorization/instruction given to StokFella on its platform were to pay sums to a third party (individual or institution that is not a member of the Stokvel), as members, we unconditionally release StokFella from all losses, damages, costs and expenses that we or another person have, may, either directly or indirectly, deduct from the Stokvel, the payment of sums (in accordance with the authorization/instructions) to the bank account of a third party.

Holding or falling. 1. Prepare time to meet your club or the people you start the Stokvel with. Ideas on how to write, Seem interesting and seem useful, I will allow them under our stokvel I, Mzukile Soni, ID or passport number 780510***5 in my capacity as president of The People`s Stokvel and like the members of the group, to authorize StokFella and authorize to open a quick access account on the 3PIM ETF system on behalf of the Svel group. • If a member does not comply with the rules set by this Constitution, he is withdrawn from the Stokvel and the benefits are paid after 5 years since the creation of the group. This is an investment Stokvel whose sole mandate is to buy assets in the campaigns of funds. The proceeds of these assets are used to form a cooperative bank in black possession at the end of a 5-year period. • There are no monthly meetings for this Stokvel.

• A general meeting is convened by the Stokvel Board of Directors if the Stokvel can afford it. • Non-members may not participate in the General Assembly unless invited to do so by the Board of Directors. • Special meetings are convened by the Bureau if necessary. • In the event of closure of the Stokvel, all additional funds and assets of the Stokvel are distributed among the members according to the contributory value of each member to the Stokvel. • Liability and debt are equally distributed among the Stokvel according to the contributory value of each member if these debts are contracted by the Stokvel. • After the closure of the Stokvel, StokFella will take this as the final instruction to close the Quick Access account on the 3PIM ETF system on behalf of the stokvel group. • Changes of management can only begin when the Stokvel is registered as a cooperative bank. • The appointment of managers can only be done by a decision to join. • Changes in the management structure must be announced 60 days before the meeting and 30 days before the effective date.

• The change in management does not exempt or affect in any way the non-discretionary mandate of the group that has been entrusted to StokFella (Pty) Ltd (hereinafter referred to as StokFella). . . .