Saham : Strengthening of the partnership with Sanlam

SAHAM FINANCES STRENGTHENS ITS PARTNERSHIPWITH SANLAM, THE INSURANCE LEADER ONTHE AFRICAN CONTINENT.

Casablanca, Morocco 14th December 2016 :SAHAM Finances strengthens its partnership with the Sanlam Group through an increase of Sanlam's shareholding inSAHAM Finances from 30% to 46.6%for an amount of USD 329 million (3.3 billion Dirhams).

Through this partnership,SAHAM Finances and Sanlam cover together 39 countries (including South Africa) in the insurance sector and aim to expand their presence across the continent.

With a team of skilled professionals,covering all the fields of insurance,assistance,asset management and real estate,SAHAM Finances intends to offer toits customers a wide rangeof innovative products and services that are tailored to their needs.

This transaction is subject to the fulfilment of certain regulatory approvals,and is expected to be completed in the second quarter of 2017.

Mr.Raymond FARHAT,Managing Director of SAHAM Finances said :

"Wearepleased tostrengthen thestrategicpartnership betweenour two institutions topool our skills andnetwork inAfrica and conffrm theleadership of SAHAM Finances across the continent."

Mr.Ian Kirk, Chief Executive Officer of Sanlam Group,says that the partnershipwith the SAHAM Finances has developed and strengthened adequately to grow it further in record time.

"Wehave always held the view that there are strong synergies between theSanlam and SAHAM Finances. Besides offering further minority protection, increasing our shareholding in SAHAM Finances to 46.6% shows our commitment towards cementing a stronger strategic partnership in which we can collectively unlock additional synergies tomutual benefit."

• Countries presence of SAHAM Finances

• Countries presence of Sanlam (direct presence)

• Countries presence ofSAHAM Finances and Sanlam

  .

• Countries presence of Sanlam Ondlrect presence)

22

COUNTRIESPRESENCE ----------------

1. - ALGERIA

2. ANGOLA

3. BENIN

4 - BOTSWANA

5- BURKINA FASO

11- GAMBIA

12-GHANA

13-GUINEA

1. INDIA

   15-KENYA

2. - MALI

3. MAURmus

4. 23-MOROCCO

   24 - MOZAMBIQUE

   25-NAMIBIA

   26- NIGER

   27 - NIGERIA

   28· OIJGANDA

   31 - SAUOIARABIA

   32-SENEGAL

   33 • SOlJTH AFRICA

   34- SWAZILAND

   35 - TANZANIA

   36-TOGO

   37- TUNISIA

   38·ZAMBIA

   39 - ZIMBABWE

   About SAHAM Finances

   One ofthe largest pan African insurance groups,SAHAM Finances recordeda turnover of morethan 1 billion USD in 2015.

   As the insurance arm of the SAHAM Group,SAHAM Finances is actively following its growth strategy in Africa and the Middle East. It operates through its subsidiaries including 34 insurance and reinsurance companies across 700 branches throughout Africa and has a team of more than 3.000 collaborators.

   With an extensive presence in Africa and the Middle East, SAHAM Finances,putsits expertise at the service of insurance,assistance and TPA.

   SAHAM Finances accompanies its customers wherever they are so that they feel free to move forward in their lives and their projects and enjoy the best of what the future has to offer.

   Insurance

   As a leading insurance company in Africa both in Short term insurance and Life,SAHAM Insurance has expanded its growth prospects in the Middle East and is present in 26 countries.

   Assistance

   As a Pan-African leader in assistance,SAHAM Assistance partnered with Mondial Assistance and is present in 12 African countries.

   TPA

   Third party administration (TPA) is a key growth driver for SAHAM Finances to optimize the management of health care costs through extended care networks,and provide beneficiaries with optimal service quality.

   For further information,visit www.sahamassurance.com

   About Sanlam Group

   Sanlam is a leading financial services group listed on the Johannesburg and Namibian Stock Exchanges. Established in 1918 as a life insurance company,the South Africa-based Sanlam Group has transformed into a diversified Pan-African financial services business.

   Through its business clusters - Sanlam Personal Finance, Sanlam Emerging Markets,Sanlam Investments, Santam and the newly established Sanlam Corporate - the Group provides comprehensive and tailored financial solutions to individual and institutional clients across all market segments. The Group's areas of expertise include insurance (life and general), financial planning,retirement, investments and wealth.

   The Group has a direct stake in operations based in South Africa, Namibia, Botswana, Swaziland,Zimbabwe, Mozambique,Mauritius,Malawi,Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana,Nigeria, India,Malaysia and the United Kingdom and has business interests in the USA, Australia, Burundi, Lesotho and the Philippines.Through a strategic stake in the SAHAM Finances Group,it has exposure to insurance operations

   in Morocco,Angola, Algeria,Tunisia, Niger, Mali,Senegal,Guinea, Burkina Faso,Cote D'Ivoire,Togo,Benin, Cameroon,Gabon,Republic of the Congo,Madagascar,Mauritius,Lebanon and Saudi Arabia.

   For further information,visit www.sanlam.com or follow us @sanlam.

   PR Contact :

   Mrs,Aicha BENNANI

   Head of communication & PR [e-mail]