Trading Statement in Terms of the JSE Listings Requirements MMI Holdings Limited Incorporated in the Republic of South Africa Registration Number: 2000/031756/06 JSE share code: MMI NSX share code: MIM ISIN: ZAE000149902 ("MMI" or "the company") Trading statement in terms of the JSE Listings Requirements MMI will be releasing final results for the year ended 30 June 2014 on 10 September 2014. Shareholders are advised that the group`s diluted earnings per share and diluted headline earnings per share are expected to be between 20 and 30 percent higher than the comparative results while diluted core headline earnings is expected to be up between 10 and 15 percent. Core headline earnings is a measure of performance used by MMI in addition to earnings and headline earnings. Core headline earnings is regarded by the directors of MMI as an appropriate measure of longer-term operational performance, given that items of both a once-off and an inherently volatile nature are eliminated. These items include changes to the valuation basis, investment variances, fair value movements on investment assets and the amortisation of any intangible assets recognised due to business combinations. The increase in earnings and headline earnings in the current period relative to the increase in core headline earnings is largely due to increased fair value movements on shareholder investment assets, lower actuarial basis changes and higher investment variances. The financial information on which this trading statement is based has not been reviewed and reported on by MMI`s external auditors. Centurion 28 August 2014 Sponsor Merrill Lynch South Africa (Pty) Ltd Date: 28/08/2014 09:15:00 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.