OLD MUTUAL LIMITED - Old Mutual Credit Rating Announcement

Old Mutual Credit Rating Announcement

 Old Mutual Limited
 Incorporated in the Republic of South Africa
 Registration number: 2017/235138/06
 ISIN: ZAE000255360
 LEI: 213800MON84ZWWPQCN47
 JSE Share Code: OMU
 JSE Alpha Code: OMLI
 LSE Share Code: OMU
 MSE Share Code: OMU
 NSX Share Code: OMM
 ZSE Share Code: OMU
 ("Old Mutual")


 19 November 2025


 CREDIT RATING ANNOUNCEMENT

 Investors are advised that on 18 November 2025, S&P Global Ratings ("S&P") announced the following
 rating actions following the upgrade of South Africa's sovereign credit ratings:
 •   Old Mutual's national scale credit rating was raised to 'zaAA+/zaA-1+' from 'zaA+/zaA-1'.
 •   Old Mutual Life Assurance Company (South Africa) Limited's ("OMLACSA") global scale rating was
     upgraded to 'BB+' from 'BB', with a positive outlook assigned.
 •   The national scale rating on OMLACSA and its debt was affirmed.


 These rating actions have also positively impacted Old Mutual, as guarantor of OMLACSA.


 S&P's credit rating announcement is available on its website at www.spglobal.com/ratings.


 Sandton


Sponsors

Johannesburg Stock Exchange                  Equity Sponsor: Tamela Holdings Proprietary Limited
                                             Debt Sponsor: Nedbank Corporate and Investment
                                             Banking, a division of Nedbank Limited
Malawi Stock Exchange                        Stockbrokers Malawi Limited
Namibia Stock Exchange                       PSG Wealth Management (Namibia) Proprietary Limited
Zimbabwe Stock Exchange                      Imara Capital Zimbabwe plc


 Enquiries
Investor Relations
Langa Manqele                                M: +27 82 295 9840
Head of Investor Relations                   E: investorrelations@oldmutual.com


Communications
Wendy Tlou                                   M: +27 82 906 5008
Chief Communications & Reputation           E: oldmutualnews@oldmutual.com
Officer


 Notes to Editors
 About Old Mutual
 Old Mutual is a premium African financial services group that offers a broad spectrum of financial
 solutions to retail and corporate customers across key market segments in 12 countries. Old Mutual's
 primary operations are in Africa, and it has a niche business in China. With over 179 years of heritage
 across sub-Saharan Africa, Old Mutual is a crucial part of the communities it serves as well as broader
 society on the continent. For further information on Old Mutual and its underlying businesses, please
 visit the corporate website at www.oldmutual.com.

Date: 19-11-2025 02:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.