Dealing in Securities by Directors 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") DEALING IN SECURITIES BY DIRECTORS Following the maturity of the staff and director components of FirstRand Limited’s 2005 Black Economic Empowerment transaction and consequent unwind of the FirstRand Black Employee Trust (“FRBET”) and the FirstRand Black Non-executive Directors Trust (“FRBNEDT”) on 31 December 2014, shareholders are advised that the following MMI directors have received MMI ordinary shares: Director : Sizwe Errol Nxasana Company : MMI Holdings Limited Nature of transaction : Off-market delivery of shares in terms of the FRBET and FRBNEDT Class of securities : Ordinary shares Date of transaction : 31 December 2014 Number of shares : 263 871 (FRBET: 131 204 and FRBNEDT: 132 667) Market value per share : 30.19 Total value of transaction : R7 966 265 Nature of interest : Direct beneficial Clearance obtained : Yes Director : Khehla Cleopas Shubane Company : MMI Holdings Limited Nature of transaction : Off-market delivery of shares in terms of the FRBNEDT Class of securities : Ordinary shares Date of transaction : 31 December 2014 Number of shares : 132 667 Market value per share : 30.19 Total value of transaction : R4 005 217 Nature of interest : Direct beneficial Clearance obtained : Yes Director : Benedict James van der Ross Company : MMI Holdings Limited Nature of transaction : Off-market delivery of shares in terms of the FRBNEDT Class of securities : Ordinary shares Date of transaction : 31 December 2014 Number of shares : 132 667 Market value per share : 30.19 Total value of transaction : R4 005 217 Nature of interest : Direct beneficial Clearance obtained : Yes Centurion 05 January 2015 Sponsor Merrill Lynch South Africa (Pty) Ltd Date: 05/01/2015 11:50:00 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.