SANLAM LIFE INSURANCE LIMITED - Availability of the Annual Financial Statements for the year ended 30 2018 - Sanlam Life Insurance Limited

Availability of the Annual Financial Statements for the year ended 30 2018 - Sanlam Life Insurance Limited

SANLAM LIFE INSURANCE LIMITED
(the “Company”)

Bond Code:      SLI4
ISIN:           ZAG000138629


AVAILABILITY OF THE AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2018

In terms of section 7.4 of the Debt Listings Requirements of the JSE Limited, investors are
advised that Sanlam Life Insurance Limited’s annual financial statements for the year ended 31
December 2018 are available for viewing and downloading at
https://www.sanlam.com/investorrelations/downloadscentre/Documents/Sanlam%20Life%20Insur
ance%20Limited%20Annual%20Financial%20Statements/Sanlam_Life_Annual_report_2018.pdf

The annual financial statements of the issuer have been audited by Ernst & Young Inc., who have
issued an unmodified audit opinion.

In terms of section 7.6 (c) of the Debt Listings Requirements of the JSE Limited, investors are
advised of the below restatements in the Annual Financial Statements (refer to note 36 of the
Notes to the annual financial statements):

    -   New accounting standards were adopted (IFRS 9 and 15) in the 2018 financial year;
    -   Management reassessed the presentation of the cash flow statement in respect of cash
        flows relating to the acquisition and disposal of investments that are backing its core
        operations; and
    -   The measurement of investment in life insurance subsidiaries has been corrected from a
        purely EV model to an EV plus a multiple of VNB model to more appropriately reflect the
        valuation thereof.

02 April 2019

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

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