Acquisition of securities by the PIC

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 02/20

10 February 2020

ACQUISITION OF SECURITIES BY THE PUBLIC INVESTMENT CORPORATION

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 the Public Investment Corporation ("PIC") 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 the PIC now amounts to 17.438% 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

Sponsors

Enquiries

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.