OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED Registration number 1999/004643/06

JSE alpha code: OLDM ("OMLACSA")

CREDIT RATING ANNOUNCEMENT

Noteholders are advised that S&P Global Ratings ("S&P") has affirmed the global and national scale Issuer credit ratings of OMLACSA. The national scale rating on hybrid debt instruments issued by OMLACSA was increased from zaA+ to zaAA-, due to the under criteria observation "UCO" identifier being removed.

The outlook on the long-term global scale rating remains at stable, with S&P not assigning an outlook to the national scale issuer credit rating.

For commentary on the rating please refer to S&P's press release on the Old Mutual Limited website https://www.oldmutual.com/investor-relations/debt-investors

or the S&P website www.spglobal.com/ratingsdirect.

Johannesburg

10 July 2023

Debt Sponsor

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

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Old Mutual Ltd. published this content on 10 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 July 2023 11:32:13 UTC.