SANLAM LIMITED - Changes to the Board and Board Committees

Changes to the Board and Board Committees

Sanlam Limited
(Incorporated in the Republic of South Africa)
Registration number 1959/001562/06
JSE share code: SLM
NSX share code: SLA
A2X share code: SLM
ISIN: ZAE000070660
("Sanlam" or "the Company")

Sanlam Life Insurance Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1998/021121/06)
LEI: 378900E10332DF012A23
Bond Issuer Code: BISLI
("Sanlam Life")

CHANGES TO THE BOARD AND BOARD COMMITTEES

This announcement is published in compliance with paragraph 6.71 of the JSE Equity Listings
Requirements and paragraph 6.42 of the JSE Debt and Specialist Securities Listings Requirements.
Shareholders and noteholders are advised of changes to the Sanlam and Sanlam Life Boards (Boards)
and Board Committees, in line with the respective Boards ongoing commitment to succession planning
and refreshing Board composition.

1. Retirement of Independent Non-Executive Directors
   Ms Karabo Nondumo, an independent non-executive director, who is due to retire by rotation at the
   Sanlam and Sanlam Life annual general meetings on 10 June 2026 (hereinafter collectively referred
   to as the "AGM"), has not offered herself for re-election to the respective Boards having surpassed
   a nine-year tenure and retires from the Boards with effect from the conclusion of the AGM. She will
   accordingly step down as a member of the audit, risk and compliance, social, ethics and
   sustainability, nominations and human resources and remuneration, non-executive directors' and
   independent non-executive directors' committees. The Boards thank Ms Nondumo for her valued
   contributions to Sanlam and Sanlam Life.

    Mr Andrew Birrell, an independent non-executive director, who is due to retire by rotation at the
    AGM, has not offered himself for re-election. He will step down as a member of the audit, risk and
    compliance, digital transformation and information technology, customer interest committee, non-
    executive directors' and independent non-executive directors' committees. The Boards thank Mr
    Birrell for his valued contributions to Sanlam and Sanlam Life.

2. Appointment of Independent Non-Executive Directors
   The respective Boards are pleased to advise of the appointment of Mr Alexander (Alex) Maditsi and
   Ms Charlotte Mokoena as independent non-executive directors of the Sanlam and Sanlam Life with
   effective from 01 April 2026, and subject to regulatory approval.

    Mr Maditsi is the director of Copper Moon Trading and a former director of Coca-Cola Southern and
    East Africa. He holds BProc, LLB and LLM qualifications, with extensive experience in law,
    commercial and remuneration matters.

    Ms. Mokoena has held various executive leadership and C-suite roles in different sectors in large
    listed multi-national companies. She is a seasoned board member and a member of the
    International Women's Forum in South Africa. Ms Mokoena holds BA (Hons), B SocSci, MCom
    degrees and a postgraduate diploma in training and performance management.

    The appointments of Mr Maditsi and Ms Mokoena will strengthen the Boards skills, experience and
    independence. The Boards welcomes Mr Maditsi and Ms Mokoena and looks forward to their
    contributions.

    The Boards confirm that in compliance with paragraph 6.73 of the JSE Equity Listings
    Requirements, a fit and proper assessment has been conducted and that the Boards are satisfied
    with the outcome of the assessments. Sanlam and Sanlam Life further confirms that there are no
    positive statements to report in respect of the integrity information contained in the director
    declarations and that the appointments were made pursuant to the Company's selection and (re)-
    appointment of directors' policy.

3. Changes to the audit, actuarial and finance committee
   With effect from 10 June 2026, and subject to shareholder approval at the AGM, Mr Willem van
   Biljon will be appointed as a member of the audit, actuarial and finance committee.

4. Changes to the risk and compliance committee
   Mr Nicolaas Kruger will assume the role of chair of the risk and compliance committee, replacing
   Mr Andrew Birrell with effect from 10 June 2026.

5. Changes to the social, ethics and sustainability committee
   Ms Mathukana Mokoka will assume the role of chair, replacing Ms Karabo Nondumo on 10 June
   2026. Ms Ndivhuwo Manyonga and Ms Charlotte Mokoena will be appointed as members of the
   social, ethics and sustainability committee, with effect from 10 June 2026. These appointments will
   be subject to shareholder approval at the AGM and Ms Mokoena's appointment will also be subject
   to regulatory approval of her appointment as director.

6. Changes to the human resources and remuneration committee
   Mr Nicolaas Kruger and Ms Mokoena will be appointed as members of the human resources and
   remuneration committee, with effect from 10 June 2026. Ms Mokoena's appointment will be subject
   to regulatory approval of her appointment as director.


Bellville
25 March 2026


Equity Sponsor to Sanlam
The Standard Bank of South Africa Limited

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

Date: 25-03-2026 04:00:00
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