Changes to Directorate RAND MERCHANT INSURANCE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number: 2010/005770/06 ISIN: ZAE000153102 Share code: RMI (“RMI” or “the group”) CHANGES TO DIRECTORATE In compliance with the JSE Limited Listings Requirements, RMI shareholders are advised of the following changes to the RMI Board of Directors, effective 30 June 2014. APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS Mr JP Burger has been appointed as an independent non-executive director. Johan Burger, BCom(Hons), CA(SA), is the Deputy Chief Executive Officer of FirstRand Limited and Deputy Chairman of MMI Holdings Limited. Mr P Lagerström has been appointed as an independent non-executive director. Per Lagerström, BSc (Accounting), MSc (Economics), is the founder and co-owner of the Energos Group, involved in people analytics. Previously, he headed up the Financial and Insurance Group of McKinsey & Company in South Africa from 1990 to 2007. RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR Mr TV Mokgatlha has resigned as an independent non-executive director of RMI. The Board thanks Thabo for his contribution to the group and wishes him well with his future ventures. CHANGE IN STATUS OF DIRECTOR Mr L Crouse has resigned as a non-executive director and has been appointed as an alternate to Mr JJ Durand. COMPOSITION OF BOARD OF DIRECTORS Following the above changes, the RMI Board of Directors comprises thirteen directors, six of whom are independent non-executive directors, five of whom are non-executive directors and two of whom are executive directors. Sandton 30 June 2014 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30/06/2014 10:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.