Changes to the Board and Board Committees of MMI MMI Holdings Limited Incorporated in South Africa (Registration number 2000/031756/06) ISIN: ZAE000149902 NSX share code: MIM JSE share code: MMI "MMI" or the “Company" CHANGES TO THE BOARD AND BOARD COMMITTEES OF MMI The Board of Directors of MMI (Board) is pleased to announce the appointment of Prof. S Jurisich, as a non-executive director of MMI, with effect from 1 October 2016. Prof. Jurisich is a Professor and Director of Actuarial Studies at the University of Witwatersrand. He is currently serving as a non-executive director on the Board of MMI Group Limited and is the Chairman of the MMI Actuarial Committee. He is a Fellow of the Faculty of Actuaries in Edinburgh and Fellow of the Actuarial Society of SA. He has a wealth of actuarial experience, including previously being a director and consulting actuary at Quindiem Consulting, an executive committee member at Swiss Re Life Health as well as being a member of various industry and actuarial professional bodies. Furthermore, the Board announces that Mr Burger, who is retiring by rotation during the next annual general meeting to be held on 22 November 2016, has advised that he is no longer available for re-election and will therefore retire as a director of MMI on the same day at the AGM. As a consequence of Mr Burger's retirement from the Board, the Board has approved the appointment of Mr P Cooper, a non-executive director of MMI, as Chairman of the MMI Remuneration Committee (“Remco”) with effect from 1 October 2016. In light of Mr Cooper’s appointment as the Chairman of Remco, he serves in this ex officio capacity as a member on the MMI Nominations Committee with effect from 1 October 2016. Mr Burger stepped down as a member on both the Remco and Nominations Committee with effect from 30 September 2016. The Board would like to welcome Prof Jurisich as a director on the Board. He brings with him a broad range of financial services experience and the Board is looking forward to working with him in this new capacity. The Board would also like to thank Mr Burger for his significant contribution to MMI over many years, through his wealth of financial services experience and deep business insights. Centurion 5 October 2016 Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 05/10/2016 03:40:00 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.