Optional redemption of OML01 notes Old Mutual Life Assurance Company (South Africa) Limited – Optional Redemption of OML01 Notes OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED Stock Code: OML01 ISIN: ZAG000026816 1. On 25 October 2005, the Issuer established the Old Mutual Life Assurance Company (South Africa) Limited ZAR4,000,000,000 Unsecured Subordinated Callable Note Programme (the Programme) in terms of which the Issuer could from time to time issue notes on the Interest Rate Market of the JSE Limited (the JSE) as described in the programme memorandum dated 25 October 2005 (the Programme Memorandum), read with the relevant applicable pricing supplement. 2. On 27 October 2005 the Issuer issued ZAR3,000,000,000 Unsecured Subordinated Callable Notes (OML01) (the OML01 Notes) due 27 October 2020 (the Final Redemption Date) pursuant to the terms and conditions contained in the Applicable Pricing Supplement dated 25 October 2005 (the Applicable Pricing Supplement) read together with the Programme Memorandum. The OML01 Notes are redeemable at the option of the Issuer on 27 October 2015 (the Optional Redemption Date). 3. This notice is delivered by the Issuer to each holder of OML01 Notes (the Noteholders) issued under the Programme in accordance with Condition 17 (Notices) and Condition 6.2 (Redemption on the Optional Redemption Date or any Interest Payment Date thereafter) of the section headed “Terms and Conditions of the Notes” in the Programme Memorandum for purposes of notifying Noteholders of the Issuer exercising its option for early redemption of the OML01 Notes on the Optional Redemption Date at the Redemption Amount (being 100% of the outstanding Principal Amount of the Notes), together with any interest accrued thereon up until that date. Capital redemption Amount outstanding after amount capital redemption OML01 R 3 000 000 000 R 0 Dated: 21 September 2015 For further information contact: Debt Sponsor: Nedbank Limited, acting through its Corporate and Investment Banking division Date: 21/09/2015 02:00:00 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.