SANLAM LIMITED - Sanlam names Chairman-elect to take over from the retiring Board Chairman in June 2017

Sanlam names Chairman-elect to take over from the retiring Board Chairman in June 2017

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 “Company”)


Sanlam names Chairman-elect to take over from the retiring Board Chairman in June
2017


Sanlam has today announced the following appointments and changes to its Board of Directors
(“Board”):

   -   Mr Desmond Smith who has served as Chairman since 2010 will retire after the Annual
       General Meeting in June 2017;
   -   Dr Van Zyl was thereafter appointed Chairman-elect and will take over from Mr Smith in
       June 2017 in the capacity of non-independent non-executive Chairman;
   -   Mr Motsepe will retain his position as the Deputy Chairman; and
   -   Mr Sipho Nkosi, who has served as an independent non-executive director on the Board
       since 2006, has been appointed as the lead independent non-executive director.

Mr Smith joined the Sanlam Board in June 2009 and was appointed as Chairman in June 2010.
He had been Sanlam’s Managing Director from 1993, having joined the Company in 1968. He
retired from his executive position at Sanlam at the end of 1997. He is also the Chairman of
Reinsurance Group of America and holds several other company directorships.

Dr Van Zyl, who is currently the Chief Executive Officer (“CEO”) of Ubuntu-Botho (“UB”) as well
as the joint CEO of African Rainbow Capital and is a former CEO of Sanlam, was appointed to
the Board as a non-executive director on 18 January 2016 as one of three UB nominated
representatives to the Board. He is credited for transforming Sanlam from a primarily South
African life insurer to a multinational diversified financial services group during his tenure as
CEO. He currently sits on the Supervisory Board of Steinhoff International Holdings and is a
Director on several other boards.

Mr Nkosi, the retired CEO of Exxaro Resources Limited and one of the founders and former
CEO of Eyesizwe Coal, serves on a number of company boards including Sanlam. His
qualifications include BCom (Hons) Economics, MBA, Diploma in Marketing, AMP (Oxford). He
is the second vice-president of the Afrikaanse Handelsinstituut and a past President of the
Chamber of Mines of South Africa where he served on the Executive Council.

Commenting on behalf of the Board on Dr Van Zyl’s appointment, Mr Smith expressed
confidence in the Board’s decision: “Patrice was the Board’s choice but the Board respects his
decision and recommendation that Johan, a consummate leader, is well positioned to take over
as Chairman. His association with Sanlam and industry experience will add value to the future
direction and growth of the company for the benefit of all stakeholders.”

“The Board has put in place well considered and adequate processes to uphold and safeguard
adherence to good governance at all times. These include, among others, the appointment of
Sipho as the lead independent non-executive director,” he added.

Further, Mr Smith anticipated a smooth handover from himself to the Chairman-elect as well as
a continued good working relationship between the Chairman-elect, the Board and the Sanlam
Group CEO, Mr Ian Kirk.

 “Johan and Ian have a well-established and positive working relationship, starting back in May
2006 when Ian joined Sanlam as an executive in Johan’s team. I am confident that this
relationship will continue to serve the best interests of the Sanlam Group,” he said.


Bellville

15 December 2016

Sponsor
Deutsche Securities (SA) Proprietary Limited




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