Change in Responsibilities of a Director Old Mutual Limited Incorporated in the Republic of South Africa Registration number: 2017/235138/06 ISIN: ZAE000255360 LEI: 213800MON84ZWWPQCN47 JSE Share Code: OMU NSX Share Code: OMM MSE Share Code: OMU ZSE Share Code: OMU ("Old Mutual" or “the Company”) Ref 10/19 3 April 2019 CHANGE IN RESPONSIBILITIES OF A DIRECTOR In compliance with paragraph 3.59 of the JSE Listing Requirements, the Board of Old Mutual has considered an arms-length transaction by Ms. T M Mokgosi- Mwantembe in her personal capacity and, given the nature of the transaction, have resolved that Ms. Mokgosi-Mwantembe can no longer be classified as an independent Director on the Old Mutual Limited Board. Ms. Mokgosi-Mwantembe has therefore stepped down as Remuneration Committee Chairperson and the Board has appointed Ms. N T Moholi as member of the Remuneration Committee as well as its Chairperson. To allow Ms. Moholi sufficient time to discharge this role, she has stepped down as Technology and Platforms Committee Chairperson with Mr. S van Graan assuming that role. These changes are effective immediately. The Chairman of the Board, Mr. T A Manuel, would like to thank Ms. Mokgosi- Mwantembe for her significant contribution as Remuneration Committee Chairperson, especially steering the Committee during the period of Managed Separation, where the Committee was instrumental in providing the Board with guidance and direction in respect of the Remuneration Philosophy and Policy for the newly listed entity. The Chairman further congratulated Ms. Moholi and Mr. van Graan on their new roles. Sponsors Johannesburg Stock Exchange Merrill Lynch South Africa (Pty) Limited Namibia PSG Wealth Management (Namibia) (Proprietary) Limited Zimbabwe Imara Capital Zimbabwe plc Malawi Stockbrokers Malawi Limited Enquiries Investor Relations Sizwe Ndlovu T: +27 (0)11 217 1163 Head of Investor Relations E: tndlovu6@oldmutual.com Communications Tabby Tsengiwe T: +27 (11) 217 1953 Head of Communications M: +27 (0)60 547 4947 E: ttsengiwe@oldmutual.com Notes to Editors About Old Mutual Limited Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 17 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche businesses in Latin America and Asia. With over 170 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent. For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com. Date: 03/04/2019 08:30:00 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.