MMI HOLDINGS LIMITED - Feedback on Shareholder Engagement Regarding the Remuneration Policy

Feedback on Shareholder Engagement Regarding the Remuneration Policy

MMI Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/031756/06)
JSE share code: MMI
NSX share code: MIM
(“MMI Holdings” or “the Company”)

FEEDBACK ON SHAREHOLDER ENGAGEMENT REGARDING THE REMUNERATION POLICY

Further to the announcement released on SENS on 27 November 2017 relating to MMI Holdings’
invitation to shareholders to engage with the Company on the remuneration policy as well as
subsequent individual invitations distributed to various CSDPs (through whom shareholders had
submitted votes against the remuneration policy), shareholders are advised as follows:

1. The telephone conference took place on 4 December 2017 at 09:00 (SA time);

2. All CSDPs to whom individual invitations were sent, contacted MMI and advised that they
   informed their clients to liaise directly with MMI, alternatively that their clients had received the
   SENS on the matter and would engage MMI directly, as required;

3. Shareholders holding, or representing, 11.82% shareholding in MMI participated in the
   teleconference on 4 December (“participating shareholders”);

4. The participating shareholders confirmed that they raised certain areas of concern in relation to
   the MMI remuneration policy directly with MMI, and that MMI had engaged with them on these
   issues prior to its Annual General Meeting (“AGM”) held on 24 November 2017. They requested
   that MMI should set up further individual meetings with them subsequent to the teleconference
   in order to discuss the previous explanations in greater detail; and

5. MMI Holdings has undertaken to formally table the areas of concern raised at its next
   Remuneration Committee meeting for consideration, and the outcomes will be reported in the
   Remuneration Report in the next Integrated Report.

By Order of the Board

Centurion
6 December 2017

Sponsor
Merrill Lynch South Africa (Pty) Limited

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