ALEXANDER FORBES GROUP HOLDINGS LIMITED - Completion of the acquisition of Sanlam Lifes operations in large stand-alone retirement fund administration

Completion of the acquisition of Sanlam Life’s operations in large stand-alone retirement fund administration

Alexander Forbes Group Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number: 2006/025226/06
JSE Share Code: AFH and ISIN: ZAE000191516
(Alexforbes or the Company)

COMPLETION OF THE ACQUISITION OF SANLAM LIFE’S OPERATIONS IN LARGE STAND-
ALONE RETIREMENT FUND ADMINISTRATION

Shareholders are referred to the announcement released by Alexforbes on the Stock Exchange News
Service (SENS) of the JSE Limited on 6 December 2021 regarding the conclusion of a binding agreement
with Sanlam Life Limited (Sanlam Life), a subsidiary of Sanlam Limited, for the acquisition by Alexander
Forbes Financial Services (Proprietary) Limited (AFFS) of Sanlam Life’s operations in relation to large
standalone retirement fund administration (the EB standalone administration business), subject to the
fulfilment of certain conditions precedent (the Transaction). AFFS is a wholly owned subsidiary of
Alexander Forbes Limited, a 100% held subsidiary of Alexforbes.

Shareholders are hereby advised that the conditions precedent to the Transaction are now fulfilled, and
the parties will therefore proceed to implement the Transaction in accordance with its terms. The effective
date of the Transaction is 1 November 2022.

The acquisition of the EB standalone administration business is in line with the Company’s strategy,
accelerating Alexforbes’ growth in a mature industry segment and will increase the number of active
members administered through the Alexforbes retirement fund administration capability. Clients can take
full confidence in Alexforbes’ commitment to and continued investment in its fund administration
capabilities to deliver exceptional service and improved value to members.

Carina Wessels
Executive: Governance, Legal, Compliance and Sustainability (Company Secretary)

1 November 2022
Sandton

Sponsor to Alexforbes
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Legal advisor to Alexforbes
BOWMAN GILFILLAN


Date: 01-11-2022 08:00:00
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