Sanlam/Santam - Fulfillment of cond precedent to the acquisition of a further 16.6% interest in Saham Finances SA Sanlam Limited Santam Limited (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) Registration number 1959/001562/06 Registration number: 1918/001680/06 JSE share code: SLM JSE share code: SNT NSX share code: SLA NSX share code: SNM ISIN: ZAE000070660 ISIN: ZAE000093779 (“Sanlam”) ("Santam") FULFILLMENT OF ALL CONDITIONS PRECEDENT TO THE ACQUISITION OF A FURTHER 16.6% INTEREST IN SAHAM FINANCES S.A. (“SAHAM Finances”) VIA A SUBSCRIPTION FOR SHARES Shareholders are referred to the joint announcement released by Sanlam and Santam on the Stock Exchange News Service of the JSE on 14 December 2016, regarding the acquisition of a further 16.6% interest in SAHAM Finances via a subscription for new shares by Sanlam Emerging Markets Ireland Limited, the wholly- owned subsidiary of SAN JV (RF) Proprietary Limited, a special purpose vehicle held jointly by Sanlam’s wholly-owned subsidiary, Sanlam Emerging Markets Proprietary Limited, and Santam (“the Transaction”). The boards of directors of Sanlam and Santam wish to advise shareholders that all of the conditions precedent relating to the Transaction have now been fulfilled and the closing process completed. The effective date of the Transaction is 10 May 2017. Bellville 11 May 2017 Sponsor to Sanlam Sponsor to Santam Deutsche Securities (SA) Proprietary Limited Investec Bank Limited Date: 11/05/2017 08:15:00 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.