Acquisition of securities by OMIG Holdings

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

NSX Share Code: OMM

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "the Company")

Ref 16/20

24 April 2020

ACQUISITION OF SECURITIES BY THE OLD MUTUAL INVESTMENT GROUP HOLDINGS (PTY) LIMITED

In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act") and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Old Mutual has received formal notification that Old Mutual Investment Group Holdings (Pty) Limited ("OMIG") has, in aggregate on behalf of its clients, acquired an interest in the ordinary shares of the Company such that the total interest in the ordinary shares of the Company held by OMIG's clients now amounts to 5.03% of the total issued ordinary shares of the Company.

As required in terms of section 122(3)(a) of the Act, Old Mutual has filed the required notice with the Takeover Regulation Panel.

Sandton

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Notes to Editors

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 174 years of heritage across sub-Saharan Africa, we are 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.