Acquisition of securities by clients of Allan Gray

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

MSE Share Code: OMU

NSX Share Code: OMM

ZSE Share Code: OMU

("Old Mutual" or "the Company")

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20 August 2019

ACQUISITION OF SECURITIES BY CLIENTS OF ALLAN GRAY

In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act") and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Old Mutual has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by Allan Gray's clients now amounts to 10.0018% of the total issues 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.

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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 markets segments in 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche business in Asia. With over 170 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.