SANLAM LIMITED - Joint Voluntary announcement regarding the fulfilment of the conditions precedent and implementation

Joint Voluntary announcement regarding the fulfilment of the conditions precedent and  implementation

SANLAM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1959/001562/06)
JSE & A2X Share Code: SLM; NSX Share Code: SLA
ISIN: ZAE000070660
("Sanlam")

SANLAM LIFE INSURANCE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/021121/06)
Bond Issuer Code: BISLI
LEI: 378900E10332DF012A23
("Sanlam Life")

SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1918/001680/06
LEI: 37890092DC55C7D94B35
ISIN: ZAE000093779
JSE share code: SNT, A2X share code: SNT, NSX share code: SNM
Bond company code: BISAN
("Santam" or the "Company")


JOINT VOLUNTARY ANNOUNCEMENT REGARDING THE FULFILMENT OF THE
CONDITIONS PRECEDENT AND THE IMPLEMENTATION OF THE ACQUISITION BY
SANTAM OF THE A1 ORDINARY SHARES IN NMS INSURANCE SERVICES (SA) LIMITED
FROM SANLAM LIFE

Shareholders and noteholders are referred to the joint announcement published on the Stock
Exchange News Service of the JSE Limited on 28 November 2024 (the "Transaction
Announcement"), which sets out the details of the proposed acquisition by Santam of Sanlam
Life's 60% interest in the A1 ordinary shares in NMS Insurance Services (SA) Limited (the
"Transaction").

The parties are pleased to advise that all the conditions precedent to the Transaction have
been fulfilled and that the Transaction has now become unconditional.

The Transaction will become effective on 2 May 2025. Sanlam will receive an initial cash
consideration of R925 million upon that date, with a potential earn-out payment as described
in the Transaction Announcement.


Cape Town
15 April 2025


JSE Sponsor (Equity and Debt) to Santam
Investec Bank Limited

NSX Sponsor to Santam
Simonis Storm Securities (Pty) Ltd
A Member of the Namibian Securities Exchange

Legal Advisor to Santam
Reidlaw (Pty) Ltd
JSE Equity Sponsor to Sanlam
The Standard Bank of South Africa Limited

JSE Debt Sponsor to Sanlam Life Insurance
The Standard Bank of South Africa Limited

NSX Sponsor to Sanlam
Simonis Storm Securities (Pty) Ltd
A Member of the Namibian Securities Exchange

Legal Advisor to Sanlam
ENS

Date: 15-04-2025 04:00:00
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