OLD MUTUAL PLC - OMAM announces launch of secondary offering and entry into private repurchase agreement

OMAM announces launch of secondary offering and entry into private repurchase agreement

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

   Ref 104/17
   15 May 2017

   OMAM ANNOUNCES LAUNCH OF SECONDARY OFFERING AND ENTRY INTO PRIVATE
   REPURCHASE AGREEMENT

   Old Mutual plc (“Old Mutual”) today announces that OM Asset Management plc (“OMAM”) has launched
   a public offering of 17.3 million of its ordinary shares. The ordinary shares are being offered by Old
   Mutual, through its wholly owned subsidiary, OM Group (UK) Limited. The underwriters also have a 30-
   day option to purchase up to an additional 2.595 million ordinary shares at the price set forth in the
   prospectus supplement.

   In addition, on 14 May 2017, OMAM entered into a Repurchase Agreement with Old Mutual plc and
   OM Group (UK) Limited pursuant to which OMAM agreed to repurchase 5 million ordinary shares
   directly from OM Group (UK) Limited in a private transaction at the price per ordinary share set forth in
   the prospectus supplement relating to the concurrent public offering. The closing of this repurchase
   transaction is subject to various conditions, including the closing of the public offering.

   Morgan Stanley & Co. LLC is acting as sole book running manager for the offering.

   The public offering is being made pursuant to an effective shelf registration statement on file with the
   U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating
   to the public offering, subject to completion, has been filed with the SEC, and a final prospectus
   supplement relating to the public offering will be filed with the SEC. Interested parties should read the
   prospectus included in the registration statement and the prospectus supplement for the public offering,
   and other documents that OMAM has filed with the SEC for more complete information about OMAM
   and the public offering.

   Copies of the preliminary prospectus supplement relating to the public offering may be obtained, when
   available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street,
   Second Floor, New York, NY 10014.

   This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
   be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would
   be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

   Enquiries
   External communications
   Patrick Bowes                               +44 20 7002 7440

   Investor relations
       Dominic Lagan                                 +44 20 7002 7190
       Deward Serfontein                             +27 82 810 5672

       Media
       William Baldwin-Charles                       +44 20 7002 7133
                                                     +44 7834 524833
       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Corporate and Investment Banking

       Notes to Editors

       Old Mutual
       Old Mutual provides investment, savings, insurance and banking services to 19.4 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 is executing its strategy of managed separation, which will entail separating its four businesses into
       standalone entities. The four businesses are:

       Old Mutual Emerging Markets: an attractive business with a dominant position in South Africa, well-placed to
       capitalise on sub-Saharan African growth as a diversified financial services provider with strong operations in key
       East and West African markets.

       Nedbank: one of South Africa’s four largest banks with very strong corporate, commercial and property finance
       franchises, and a growth opportunity in the retail market, as well as pan-African optionality through its stake in
       Ecobank Transnational Inc (ETI).

       Old Mutual Wealth: a leading, integrated wealth management business, focused on the UK upper and middle
       market, with strong prospects in a rapidly growing £3 trillion market.
       OM Asset Management: an institutionally focussed, multi-boutique asset management business, delivering
       strong, diversified growth in attractive asset classes through organic initiatives and acquisitions.

       For the year ended 31 December 2016, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
       and had £395 billion of funds under management. For further information on Old Mutual plc and the underlying
       businesses, please visit the corporate website at www.oldmutualplc.com


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