Changes to the Board of Directors and Executive Committee 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 Committee In terms of paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised of the following appointments to the Boards of Directors of Sanlam and Sanlam Life Insurance Limited (“Board”) and to the Sanlam Executive Management. 1. Dr Johan van Zyl has been appointed to the Board as a non-executive director. Dr Van Zyl, the previous Sanlam Group Chief Executive Officer, joins the Board as an Ubuntu-Botho Investment Holdings (UB) nominated representative on the Board. His appointment is effective from 18 January 2016. In terms of the strategic agreement concluded between UB and Sanlam in 2014, UB is entitled to nominate three members to the Board. 2. Mr Junior John Ngulube has been appointed to the position of Chief Executive Officer of the newly established Sanlam Corporate business cluster. Mr Ngulube’s appointment is effective from 01 February 2016 and he will be a member of the Sanlam Executive Committee. He joins Sanlam from Munich Reinsurance Company of Africa where he was the Chief Executive Officer of their sub-Saharan operations since 2007 following a career that spanned 28 years in various positions within the Munich Re group. He holds a Bachelor of Science in Agriculture (Honours) from the University of Zimbabwe, a Master of Science in Agriculture from the Pennsylvania State University (U.S.A.), as well as a post graduate Diploma in Financial Management from Damelin College in South Africa. He has achieved various industry qualifications and attended various courses at business schools in South Africa, the United States, Singapore and France. The Sanlam Corporate business cluster is being formed in line with Sanlam’s overarching strategy to support the delivery of an enhanced and integrated solution to the Group’s corporate clients, both in South Africa and the rest of the African continent. It will collaborate and maintain strong links with the other four existing clusters in the Group (Sanlam Emerging Markets, Sanlam Investments, Sanlam Personal Finance and Santam) to ensure delivery of a seamless holistic solution to corporate clients and their intermediaries. Welcoming Dr Van Zyl to the Board, Sanlam Chairman, Mr Desmond Smith said: “We are pleased to welcome Johan back to the Board, this time in his capacity as a representative of our partners, Ubuntu-Botho. We look forward to his contribution to the Board where we expect that he will add considerable value.” Commenting on Mr Ngulube’s appointment, Sanlam Chief Executive Officer, Mr Ian Kirk said: “Junior brings a wealth of experience in financial services which he gained at one of the largest reinsurance companies in Africa. He has great insurance expertise in South Africa and the rest of Africa. We are confident that he is well qualified to lead the formation of the Sanlam Corporate business cluster and to grow it into a key and formidable part of the Group’s operations. We welcome him to Sanlam and look forward to his contribution.” Bellville 18 January 2016 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 18/01/2016 02:30:00 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.