SANTAM LIMITED - Board and committee succession

Board and committee succession

SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
JSE Share Code: SNT & ISIN: ZAE000093779
A2X Share Code: SNT
NSX Share Code: SNM
(’Santam’ or the ’Company’ or the ‘Santam Group’)

BOARD AND COMMITTEE SUCCESSION

Shareholders of Santam are referred to the announcement release on the Stock
Exchange News Service of the JSE Limited on 17 March 2021, informing the market
of the retirements of Messrs Vusi Khanyile and Bruce Campbell at the Company’s
annual general meeting on 2 June 2021.

As a consequence of their retirements, Mr Khanyile has stepped down as Chairman
of the board, member of the Human Resources and Remuneration Committee and
Chair of the Nominations Committee with effect from 2 June 2021. Mr Campbell has
stepped down as a member of Santam’s Audit Committee, Risk Committee and
Social, Ethics and Sustainability Committee with effect from 2 June 2021.

Mr Khanyile and Mr Campbell both served the board and the various board
committees with distinction over many years. Santam is appreciative of their
commitment and service and wishes them well for the future.

As announced on 13 May 2021, Ms Nombulelo (Pinky) Moholi, Ms Caroline Da Silva,
Ms Mmaboshadi (Shadi) Chauke and Ms Deborah (Debbie) Loxton have been
appointed as independent non-executive directors of the Company with effect from 3
June 2021. To utilise the skills base of the new directors, the board has appointed
them to the following board committees with effect from 3 June 2021:
   •   Ms Moholi as the independent Chairperson of the Santam board, member and
       Chair of the Nominations Committee and member of the Human Resources
       and Remuneration Committee;
   •   Ms Loxton as a member of Santam’s Audit, Risk and Investment Committees;
   •   Ms Chauke as a member of the Audit Committee, Risk Committee and Social,
       Ethics and Sustainability Committee; and
   •   Ms Da Silva as a member of the Risk Committee and Social, Ethics and
       Sustainability Committee.

Ms Lizé Lambrechts, the Santam Chief Executive Officer (‘CEO’), has advised the
board of her intention to formally retire during the course of 2022. Lizé joined Santam
in January 2015 from Sanlam. The board and the Santam executive team thank Lizé
for her exemplary leadership and valuable contribution to Santam during her tenure.
The process to appoint a suitable successor will commence in due course. The
board and Lizé are committed to ensuring that there is a smooth transition to a new
CEO.

2 June 2021
Equity Sponsor: Investec Bank Limited

Date: 02-06-2021 03:33:00
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