Trading Statement – for the six months ended 30 June 2022 SANTAM LIMITED (Incorporated in the Republic of South Africa) Registration number: 1918/001680/06 (JSE Share Code: SNT & ISIN ZAE000093779) NSX share code: SNM (‘Santam’) or (“the Company”) TRADING STATEMENT – FOR THE SIX MONTHS ENDED 30 JUNE 2022 Shareholders and noteholders are advised that Santam is currently compiling its interim financial results for the six months ended 30 June 2022. This trading statement provides guidance for headline earnings per ordinary share (HEPS) and earnings attributable to equity holders of Santam per ordinary share (EPS) in terms of paragraph 3.4(b) of the JSE Limited Listings Requirements. Shareholders and noteholders are advised that Santam expects its HEPS and EPS for the six months ended 30 June 2022 to fall within the following ranges: Six months to Six months to Six months to 30 June 2022 30 June 2022 30 June 2021 Expected decrease Expected range Prior period on comparative period % Cents per share Cents per share HEPS 43% to 62% 327 to 491 863 EPS 41% to 61% 340 to 510 863 The decrease in HEPS is driven by lower underwriting results and investment income. The net underwriting margin is expected to be positive but below the long-term target range of 5% to 10% of net earned premiums, significantly impacted by adverse weather conditions and the devastating floods in the Kwazulu-Natal province during the period. This was offset to some extent by a reduction in the COVID-19 related contingent business interruption claims provisions. Local and foreign bond market volatility and lower equity markets were the key contributors to the weaker investment performance, partly offset by foreign currency gains following a weaker rand exchange rate and increased dividend income. Satisfactory gross written premium growth is expected. The Group’s economic capital position is expected to be well within the target range of 145% to 165%. The financial information on which this Trading Statement is based has not been reviewed or reported on by Santam’s external auditors. Santam will release its reviewed results for the six months ended 30 June 2022 on or about 1 September 2022. CAPE TOWN 16 August 2022 Sponsor: Investec Bank Limited Date: 16-08-2022 03:35:00 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.