SANLAM LIMITED - Changes to the Board of Directors and Executive Management

Changes to the Board of Directors and Executive Management

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 the “Group”)


Sanlam Limited – Changes to the Board of Directors and Executive Management

In terms of paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders
are advised of the following important changes to the Board of Directors of Sanlam Limited
(“Board”) as well as the Sanlam Executive Management.

1. Mr Arun Duggal has retired from the Boards of Directors of Sanlam and Sanlam Life
   Insurance Limited with effect from 03 June 2015.

2. Following an earlier SENS announcement by the Board on 09 September 2014, which
   recorded that Dr Johan van Zyl, Sanlam Group Chief Executive would retire in 2015, it
   has now been agreed that Dr Van Zyl would step down as Group Chief Executive and
   also retire from the boards of Sanlam and Sanlam Life Insurance Limited with effect from
   30 June 2015. Dr van Zyl will remain employed by Sanlam until 31 December 2015,
   focussing on specific projects. As a result, the Board agreed to bring forward the final
   measurement of his remuneration arrangements to coincide with the end of his tenure as
   Group Chief Executive Officer. The vesting of the applicable restricted shares will
   therefore be determined after the finalisation of the Group’s 2015 interim results.

3. Mr Ian Kirk, the current Deputy Group Chief Executive, has been appointed as Group
   Chief Executive and Executive Director of Sanlam and Sanlam Life Insurance Limited
   with effect from 01 July 2015.

4. Mr Hubert Brody, the current Chief Executive for Group Strategy and Projects, has been
   appointed as Chief Executive: Sanlam Personal Finance with effect from 01 July 2015.
   Mr Brody joined the Group on 01 January 2015.

5. Mr André Zeeman, the current Chief Actuary and Group Risk Officer, has opted for early
   retirement with effect from 30 June 2015. While Mr Zeeman will step down, he will remain
   employed until 31 December 2015, working on special regulatory projects.

6. Mr Anton Gildenhuys, the current Chief Executive: Sanlam Personal Finance Actuarial,
   has been appointed to the Group Executive Committee as Chief Actuary with effect from
   01 July 2015, reporting to the Group Chief Executive.

Commenting on the Board and Executive Management changes, Mr Desmond Smith,
Chairman of the Boards of Directors of Sanlam and Sanlam Life Insurance Limited, said: “It
has been a real pleasure to have had Arun serve on our board. I, as well as my fellow board
members appreciate the diligence with which he has served our Group.

“I would like to thank Johan for his unwavering commitment to transform the Sanlam Group
from primarily a South African life insurer to a diversified financial services Group since his
appointment as Group Chief Executive in 2003. Sanlam is now on a sustainable growth path
and has a bright future. Our succession planning has been made known well in advance to
ensure a smooth leadership transition. The Board congratulates Ian and looks forward to his
contribution as Group Chief Executive Officer. I would further like to congratulate Hubert and
Anton on their respective appointments and thank André for the immense contribution he
has made as Chief Actuary and Group Risk Officer over the years.”


Bellville
04 June 2015

Sponsor
Deutsche Securities (SA) Proprietary Limited

Date: 04/06/2015 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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