Old Mutual Share Repurchase programme

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

NSX Share Code: OMM

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "Company" or "Group")

Ref 54/23

26 October 2023

OLD MUTUAL SHARE REPURCHASE PROGRAMME

Shareholders are referred to Old Mutual's SENS announcement dated 30 May 2023, wherein the company announced that it will commence with a Share Repurchase Programme.

Old Mutual wishes to confirm that this Share Repurchase Programme was concluded on 16 October 2023, during which time 122,974,063 Old Mutual shares were repurchased. As at today's date the issued share capital of the company is 4,790,906,428.

The Share Repurchase Programme was designed with the intention to efficiently unlock long-term incremental value for shareholders. It remained within the percentage (3.5% of issued share capital) approved by shareholders at the Annual General Meeting in May 2023 as well as the value (R1.5 billion) as communicated to shareholders in our SENS announcement dated 14 March 2023.

This announcement is also available on the Old Mutual website at www.oldmutual.com.

Sandton

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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 Africa, and it has a niche business in China. With over 178 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities it serves as well as broader society on the continent. For further information on Old Mutual Limited and its underlying businesses, please visit the corporate website at www.oldmutual.com.