Appointment of Lead Independent Director

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 11/21

3 May 2021

APPOINTMENT OF LEAD INDEPENDENT DIRECTOR

Shareholders of Old Mutual are referred to the SENS announcement released on Monday, 19 April 2021 referencing changes to the Old Mutual Board of Directors. Within that announcement, it was noted that Mr Peter de Beyer, the current Lead Independent Director, will step down from the Board at the close of the AGM on 21 May 2021.

In compliance with Rule 3.59 of the JSE Listing Requirements, Old Mutual is pleased to announce that, through an independently facilitated process, Dr Sizeka Magwentshu-Rensburg has been elected as Lead Independent Director of Old Mutual to succeed Peter, with effect from the close of the Company's annual general meeting on Friday, 21 May 2021. 

Sizeka has been a Board member for 3 years and is the Chairperson of the Responsible Business committee, and also serves on the Corporate Governance & Nominations and Remuneration committees of the Company.

The Board once again expresses appreciation to Peter for his contribution to the Company, and look forward to working with Sizeka in her new role.

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 A

frica and the rest of Africa, and we have a niche business in China. With over 175 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.