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

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

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