Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

LSE Share Code: OMU

MSE Share Code: OMU

NSX Share Code: OMM

ZSE Share Code: OMU

("Old Mutual" or "the Company")

Ref 23/22

22 June 2022

NEW FINANCIAL INSTRUMENT LISTING AND NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008 OF THE GRANTING OF FINANCIAL ASSISTANCE BY OLD MUTUAL

Shareholders of the Company are referred to the announcement released on the Stock Exchange News Service this afternoon, 22 June 2022 under the Old Mutual Life Assurance Company (South Africa) Limited ("OMLACSA") code, OLDM, advising that the JSE has granted a listing to OMLACSA of its unsecured floating rate note of R1,110,000,000 in terms of its R25,000,000,000 Multi-Issuer Note Programme ("the Programme"), as guaranteed by Old Mutual Limited, dated 4 March 2020 (the "Guarantee").

The above Guarantee constitutes financial assistance as define in section 45(1) of the Companies Act 71 of 2008 (the "Companies Act") and accordingly notice is hereby given that the board of directors of the Company (the "Board")adopted resolutions to provide financial assistance as contemplated in section 45(1) of the Companies Act, for amounts and on such terms and conditions as determined by the board, pursuant to the authorities granted in terms of the special resolution adopted by shareholders at the annual general meeting of the Company held on 27 May 2022 authorising the board of the directors of the Company to provide direct or indirect financial assistance by way of a loan, guarantee, the provision of security to any of its present or future  subsidiaries and/or any other company or entity that is or becomes related or inter-related to the Company or any of its subsidiaries, and/ or to any member of such subsidiary or related or inter-related company or entity.

In accordance with section 45(3)(b) of the Companies Act, the Board advises that is satisfied and acknowledges, in respect of the financial assistance, that:

-    immediately after providing such financial assistance, Old Mutual would have satisfied the solvency and liquidity test as provided in section 4 of the Companies Act; and

-    the terms under which the financial assistance has been given are fair and reasonable to the Company. 

Shareholders are advised that the total facility value, if utilised, will exceed 1/10th (one tenth) of 1% (one percent) of the Company's net worth as at the date of the last Board meeting, being 27 August 2021.

Sandton

Sponsors

Enquiries

  Head: Group Communications  E: [email protected]

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 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has a niche business in China. With over 177 years of heritage across sub-Saharan Africa, Old Mutual is 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.