SANLAM LIFE INSURANCE LIMITED - Notification of update to the R6bn Unsecured and Subordinated Note Programme - SMT1

Notification of update to the R6bn Unsecured and Subordinated Note Programme - SMT1

Sanlam Life Insurance Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1998/021121/06)
Company code: SMT1
(“the Issuer”)

NOTIFICATION OF AN UPDATE TO THE ZAR6,000,000,000 UNSECURED SUBORDINATED NOTE
PROGRAMME

The Issuer has received approval from the JSE in terms of its amended ZAR6,000,000,000
Unsecured Subordinated Note Programme (“the Programme”). A summary of the changes
effected is provided below.

The Issuer has updated the Programme, amongst others, in the following manner:
    1. Introducing the Subordinated Guarantee whereby Sanlam Limited (“the Guarantor”)
        irrevocably and unconditionally guarantees to the Noteholders the due and punctual
        performance of all obligations arising under the Programme pursuant to the programme
        memorandum;
    2. Introducing the Information Statement containing information pertaining to the business
        description, business management and corporate governance of the Issuer and
        Guarantor, and information relating to risk factors associated with an investment in the
        Notes, including, but not limited to, risk factors specific to the Issuer and Guarantor;
    3. Updating the Terms and Conditions with the most recent JSE Debt Listings Requirements
        (“JSE DLRs”);
    4. Aligning its and the JSE Responsibility Statements with the wording in the JSE DLRs;
    5. Updating the Terms and Conditions with the Insurance Act, 2017 and the Prudential
        Standards issued by the Prudential Authority.

The updated Programme is available for inspection at the registered office of the Issuer and will
be made available for inspection on its website:
https://www.sanlam.com/investorrelations/downloadscentre/Pages/sanlam-life-insurance-
limited-annual-financial-statements.aspx.

The updated Programme memorandum will also be available for inspection on the JSE website:
www.jse.co.za.

Enquiries
Sanlam Investor Relations
Phone: +27 21 947 8455
E-mail: ir@sanlam.co.za
Bellville

11 August 2021

Debt sponsor
Absa Bank Limited, acting through its Corporate and Investment Banking division

Date: 11-08-2021 08:00:00
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