Sanlam : Closing of SAHAM Finances Acquisition

11 May 2017

Fulfillment of all conditions precedent to the Acquisition of a further 16.6% interest in SAHAM finances S.A. ('SAHAM finances') via a subscription for shares

Shareholders are referred to the joint announcement released by Sanlam and Santam on the Stock Exchange News Service of the JSE on 14 December 2016, regarding the acquisition of a further 16.6% interest in SAHAM Finances via a subscription for new shares by Sanlam Emerging Markets Ireland Limited, the wholly-owned subsidiary of SAN JV (RF) Proprietary Limited, a special purpose vehicle held jointly by Sanlam's wholly-owned subsidiary, Sanlam Emerging Markets Proprietary Limited, and Santam ('the Transaction').

The boards of directors of Sanlam and Santam wish to advise shareholders that all of the conditions precedent relating to the Transaction have now been fulfilled and the closing process completed. The effective date of the Transaction is 10 May 2017.