Santam acquires 100% of RMB-SI Investments Proprietary Limited SANTAM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1918/001680/06) JSE Share Code: SNT & ISIN ZAE000093779 NSX share code: SNM (‘Santam’) SANTAM ACQUIRES 100% OF RMB-SI INVESTMENTS PROPRIETARY LIMITED (RMB-SI) Santam and the shareholders of RMB-SI have reached agreement in terms of which Santam will acquire 100% of the issued share capital of RMB-SI (the Transaction). RMB-SI has over the years pioneered an innovative specialist insurance structuring business, offering its partners and clients individually designed and innovative insurance solutions. Santam believes that this acquisition would be a good strategic fit and that Santam is well positioned to provide a platform for future growth for the RMB-SI business. RMB-SI owns 22.4% of the issued share capital of Truffle Capital Proprietary Limited (Truffle). Truffle is excluded from the scope of the Transaction. The conclusion of the Transaction is subject to regulatory approvals by the Financial Services Board and the competition authorities in South Africa, as well as the relevant regulatory authorities in Mauritius and Ireland. The Transaction is being concluded at market-related terms and conditions. Cape Town 23 August 2016 Sponsor Investec Bank Limited Legal advisor to Santam ENSafrica Date: 23/08/2016 08:30:00 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.