OLD MUTUAL PLC - Resignation of Ralph Mupita, Chief Executive of Old Mutual Emerging Markets

Resignation of Ralph Mupita, Chief Executive of Old Mutual Emerging Markets

       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL
       Old Mutual plc

       Ref 532/16
       31 October 2016


       RESIGNATION OF RALPH MUPITA, CHIEF EXECUTIVE OF OLD MUTUAL EMERGING
       MARKETS

       Shareholders are referred to an Old Mutual plc announcement published on the Stock Exchange
       News Services earlier today, 31 October 2016. The announcement contained grammatical errors due
       to a system problem with and errors by, the JSE Sponsor, Merrill Lynch South Africa (Pty) Limited
       (“Sponsor”). The Sponsor would like to retract the published announcement and the replacement
       announcement is outlined below.


       Old Mutual plc (“Old Mutual”) announces that Ralph Mupita, CEO of Old Mutual Emerging Markets
       (“OMEM”), has tendered his resignation, in order to pursue interests outside of the financial services
       industry. The search process for his successor will be launched imminently.

       Mr Mupita has a notice period of 3 months and will continue in post during that time. OMEM, like the
       rest of the Old Mutual businesses, is currently going through a business readiness programme as part
       of Old Mutual’s managed separation process. This is not affected by today’s announcement and
       continues as planned.

       Bruce Hemphill, Old Mutual plc CEO and Chairman of OMEM, said:

       “On behalf of Old Mutual, I would like to thank Ralph for his dedicated leadership of the OMEM
       business over the last five years. He has been an excellent leader and we wish him well in his future
       endeavours.

       “I will work very closely with OMEM’s strong and deep management team to ensure there is no
       disruption to the business or its customers while we seek Ralph’s successor. Meanwhile, the
       managed separation process is unchanged and we will continue to maintain our engagement with key
       stakeholders throughout.”

       Ralph Mupita said:

       “I have spent 16 great years at Old Mutual, and believe that I have made a contribution to the growth
       and development of the business over that time. But I feel the time is right for me to pursue other
       challenges outside of the industry.

       “Old Mutual plays an important role in the socio-economic transformation of South Africa and the
       other key markets in which it operates, and it has been a privilege to have been part of such an
       august and iconic institution. I wish the business every success in the future”


       ENDS
       Enquiries
       External communications
       Patrick Bowes                          UK    +44 20 7002 7440
       Investor relations
       Dominic Lagan                          UK    +44 20 7002 7190
       Sizwe Ndlovu                           SA    +27 11 217 1163

       Media
       William Baldwin-Charles                      +44 20 7002 7133
                                                    +44 7834 524833
       Notes to Editors

       Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, the
       Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and
       Johannesburg Stock Exchanges, among others, since 1999.

       Old Mutual has announced a strategy of managed separation, which will entail separating its four businesses into
       standalone entities. The four businesses are:

       Old Mutual Emerging Markets: An African financial services leader, providing long-term savings, protection,
       investment and lending to retail and corporate customers

       Nedbank: Old Mutual owns a 54% stake in Nedbank, one of South Africa’s top four banks, providing wholesale
       and retail banking, insurance and asset management for individuals and businesses

       Old Mutual Wealth: a leading wealth management business in the UK and international markets

       OM Asset Management: Old Mutual owns 65.8% in the New York Stock Exchange listed OM Asset
       Management which offers a diverse range of investment strategies and products for institutions, delivered
       worldwide through seven US-based boutiques.

       For the year ended 31 December 2015, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
       and had £304 billion of funds under management. For further information on Old Mutual plc and the underlying
       businesses, please visit the corporate website at www.oldmutual.com

       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Capital



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