FINALISATION AND DIVIDEND CURRENCY EQUIVALENTS

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE, MSE, ZSE Share Code: OMU

NSX Share Code: OMM

("Old Mutual" or "the Company")

Ref 19/23

22 March 2023

FINALISATION ANNOUNCEMENT AND DIVIDEND CURRENCY EQUIVALENTS

Shareholders are referred to Old Mutual's Results announcement dated 14 March 2023, wherein the company declared a final dividend of 51 cents per share. The dividend will be payable to all shareholders (except for Old Mutual Limited shareholders on the London Stock Exchange (LSE)) on 17 April 2023. The dividend payment date for Old Mutual Limited shareholders on the LSE is       15 May 2023.

The dividend of 51 cents per ordinary share will be subject to a local dividend tax rate of 20% which will result in a net final dividend, to those shareholders who are not exempt from paying dividend tax, of 40.800 cents per ordinary share. Shareholders who are not exempt or are not subject to a reduced rate in terms of a double taxation agreement, will be subject to a dividend withholding tax at a rate of 20%.

Shareholders on the London, Zimbabwean, Malawian and Namibian registers will be paid in the local currency equivalents of the final dividend.  Distributions made through the dividend access trust or similar arrangements established in a country will not be subject to South African withholding tax but may be subject to withholding tax in the relevant country. We recommend that you consult with your tax advisor regarding the in-country withholding tax consequences.

The local currency equivalents of the final dividend have been established as follows:

The local currency equivalents have been calculated using the following exchange rates:

The timetable released on the Stock Exchange News Service on 14 March 2023 remains unchanged.

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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 market 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 Asia. With over 177 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities they serve and the broader society on the continent.

For further information on Old Mutual and its underlying businesses, please visit the corporate website at www.oldmutual.com.