Trading statement for the six months ended 31 December 2019 MOMENTUM METROPOLITAN HOLDINGS LIMITED (Previously MMI Holdings Limited) Incorporated in the Republic of South Africa Registration number: 2000/031756/06 ISIN code: ZAE000269890 JSE Share Code: MTM NSX Share Code: MMT “Momentum Metropolitan” MOMENTUM METROPOLITAN LIFE LIMITED (Previously MMI Group Limited) Incorporated in the Republic of South Africa Registration number: 1904/002186/06 Company code: MMIG Trading statement for the six months ended 31 December 2019 Momentum Metropolitan is currently in the process of finalising its results for the half year ended 31 December 2019, which will be released on 5 March 2020. Pursuant to paragraph 3.4(b) of the JSE Limited Listings Requirements, shareholders are advised that the Group's basic earnings per share, basic headline earnings per share and diluted normalised headline earnings per share are expected to be within the ranges set out below: 1H2020 1H2019 % change (cents) (cents) Basic earnings per share 100 to 108 83 20% to 30% Basic headline earnings per share 96 to 105 91 5% to 15% Diluted normalised headline 110 to 121 105 5% to 15% earnings per share The basic earnings per share are expected to grow by between 20% and 30% on the prior period, while the basic headline earnings per share and diluted normalised headline earnings per share are expected to increase by between 5% and 15%. The pleasing growth in 1H2020 was underpinned by solid operational results across the business units, supported by disciplined expense management, good retail underwriting experience, solid revenue growth in Guardrisk and a strong contribution from the Africa business unit. This was partly offset by muted group life mortality experience in Momentum Corporate. In addition to these factors, the basic earnings per share benefited from gains on the disposal of certain subsidiaries in Africa. Diluted normalised headline earnings adjust the standard JSE definition of headline earnings for the impact of treasury shares, the amortisation of intangible assets arising from business combinations and BEE costs. The first adjustment removes mismatches that might arise from elimination of treasury shares (potential mismatches that are peculiar to financial institutions that invest in their own securities on behalf of clients). The definition of diluted normalised headline earnings remains unchanged. The information in this trading statement has not been reviewed and reported on by Momentum Metropolitan’s external auditors. Centurion 27 February 2020 Sponsor in South Africa Merrill Lynch South Africa (Pty) Limited Sponsor in Namibia Simonis Storm Securities (Pty) Limited Date: 27-02-2020 05:15:00 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.