SANLAM LIFE INSURANCE LIMITED - Tier 2 Instrument early redemption - SL12

Tier 2 Instrument early redemption - SL12

SANLAM LIFE INSURANCE LIMITED
(Incorporated in the Republic of South Africa with limited liability under Registration Number
1998/021121/06)
(the “Company”)
JSE Code:        SLI2
ISIN Code:       ZAG000032418

TIER 2 INSTRUMENT EARLY REDEMPTION – SLI2

Sanlam Life Insurance Limited (‘the Issuer’) - Pursuant to the Programme Memorandum dated 14
August 2006, the Issuer issued the SLI2 Notes (‘the Notes’) with a final maturity date of 15 August
2021. The Notes are, however, redeemable at the Issuer’s option on 15 August 2016 (‘Optional
Redemption Date’) in accordance with condition 9.3 (Redemption at the Option of the Issuer) of the
Terms and Conditions of the Notes (as read with the Applicable Pricing Supplement).

In terms of condition 7.6 (Payment Day) and condition 17 (Notices) of the Terms and Conditions of
the Notes, notice is hereby given to Noteholders that the Issuer has exercised its right to early redeem
the Notes on 15 August 2016. Payment of the optional redemption amount, together with applicable
interest, will be effected on the Optional Redemption Date.

The redemption of the Notes will amount to R828 million. The redemption of the Notes will amount to
a ZAR 828,000,000.00 nominal reduction of Tier 2 capital and the amount outstanding after the
redemption will be ZAR NIL. Sanlam will maintain its strong capital position subsequent to the early
redemption of this note.




               Capital Redemption Amount             Amount Outstanding After Capital Redemption

  SLI2         ZAR 828,000,000.00                    ZAR 0.00




15 July 2016

Debt sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

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