Old Mutual Expands its East African Presence OLD MUTUAL PLC ISIN CODE: GB00B77J0862 JSE SHARE CODE: OML NSX SHARE CODE: OLM ISSUER CODE: OLOMOL Ref 01/15 9 January 2015 OLD MUTUAL EXPANDS ITS EAST AFRICAN PRESENCE Old Mutual plc (“Old Mutual” or “the Group”) today announces that it has taken a 23.3% stake in UAP Holdings Limited (“UAP”), an East and Central African financial services company with a presence in 6 countries, for KES 8.88 billion (USD 97.6 million). The consideration will be paid in cash and will be funded from existing Group resources. In Kenya, UAP has the third largest Property & Casualty (“P&C”) market share; the second largest health insurance business; a substantial property investment portfolio and a fast growing life insurance business. It has established and diverse distribution networks including via brokers; an agency force; direct sales; bancassurance; digital; and via supermarkets. In Uganda, it has the second largest P&C and health insurance businesses, and the third largest life business. It also has P&C businesses in Rwanda, Tanzania and South Sudan, and a brokerage business in the Democratic Republic of the Congo. Ralph Mupita, Chief Executive of Old Mutual Emerging Markets, said: “This investment is another significant step in delivering the Group’s aim of becoming an African financial services champion. UAP is an ideal and complementary fit to our existing Kenyan businesses and we look forward to deepening and broadening our relationship in the future.” In Kenya, Old Mutual serves more than 500,000 customers through its activities in life insurance, asset management and micro-finance. Enquiries External communications Patrick Bowes UK +44 20 7002 7440 Investor relations Dominic Lagan UK +44 20 7002 7190 Sizwe Ndlovu SA +27 11 217 1163 Media William Baldwin-Charles +44 20 7002 7133 +44 7834 524833 INVESTMENT | SAVINGS | INSURANCE | BANKING Sponsor: Merrill Lynch South Africa (Pty) Ltd Joint Sponsor: Nedbank Capital Notes to Editors Old Mutual provides investment, savings, insurance and banking services to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999. In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations. For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com For further information on UAP, please visit the corporate website at www.uap-group.com INVESTMENT | SAVINGS |INSURANCE | BANKING Date: 09/01/2015 11:45:00 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.