SANLAM LIMITED - Sanlam Emerging Markets and Shriram Transport Finance Company

Sanlam Emerging Markets and Shriram Transport Finance Company

SANLAM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN: ZAE000070660
(“Sanlam” or “Group”)

Sanlam Emerging Markets and Shriram Transport Finance Company

South African financial services group Sanlam announced today that it has acquired a 3,7% direct
stake in Shriram Transport Finance Company (STFC) (registered in India) for close to R1 billion (the
“transaction”).

Whereas Sanlam’s existing exposure to STFC is via the Group’s holding in Shriram Capital Limited
(SCL), the shares acquired in terms of this transaction will be held directly by Sanlam Emerging
Markets (SEM), the cluster within Sanlam responsible for financial services in emerging markets
outside of South Africa.

STFC is a commercial vehicle financing business, listed on both the Bombay and National Stock
Exchanges in India, with a loan book of approximately R60 billion.

The transaction will take Sanlam’s effective holding in STFC to approximately 10% and is in line
with the Group’s strategy to increase its holdings in existing partners where appropriate.

The transaction with STFC augments Sanlam’s existing portfolio of businesses in Africa and Asia, in
support of the Group's target of sustainable value creation in these growth markets. It further
strengthens the existing relationship between Shriram and Sanlam.

Says Mr Heinie Werth, CEO of SEM: “This transaction is yet another highlight and a significant step
in our efforts to meet our strategic objectives to diversify both geographically and into broader
financial services. We are pleased with the progress we are making in this regard.

“The transaction will facilitate Sanlam’s further access to the strong growth and profit generating
capacity of the financing entities within the Shriram Group and in the Indian market.
“It is an important and logical next step in strengthening Sanlam’s, and particularly SEM’s,
relationship with Shriram. The strong relationship that we continue to enjoy is further entrenched
in the long term benefit for both companies," Werth says.

Werth further says he remains confident in the long term potential for an attractive return despite
a somewhat challenging economic environment in India currently.

Sanlam has been in partnership with the Shriram Group of India in respect of life insurance
(Shriram Life) since 2005 and short term insurance (Shriram General) since 2008.

Last year Sanlam concluded a further R2 billion investment in Shriram Capital Limited (SCL), the
holding company for the financial services interests of the Shriram Group. Following that
transaction, SEM effectively owns 26% of SCL.

This is not a categorised transaction in terms of the JSE Limited Listings Requirements.

Issued by Sanlam Group Communication
For further enquiries, please contact Ainsley Moos, Head of Group Communication at Sanlam:

       -   ainsley.moos@sanlam.co.za
       -   +2721 947 5967
       -   +2783 296 4697

Note to Editors: About Shriram
The Shriram Group has a number of investments in the financial services sector, which include
investments in commercial vehicle financing, consumer and enterprise finance, retail stock
broking, life insurance, non-life (general) insurance and the distribution of investment and
insurance products.

Bellville
21 February 2013

Sponsor
Deutsche Securities (SA) Proprietary Limited

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