Old Mutual : S&P Global Ratings affirm OMLACSA's credit rating (NaN)

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

JSE alpha code: BOLDM

("OMLACSA" or the "Company")

S & P GLOBAL RATINGS AFFIRM OMLACSA'S CREDIT RATING

On 20 May 2022, S&P Global Ratings ("S&P") revised its outlook to positive from stable and affirmed the "BB" foreign currency and "BB" local currency long-term sovereign credit rating on South Africa.

Following the above, on 24 May 2022 S&P affirmed the 'BB' global rating and 'zaA-1+' and 'zaAAA' short-term and long-term national scale ratings for OMLACSA respectively. The outlook has been revised to Positive from Stable to reflect S&P's positive outlook on the sovereign.

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

03 June 2022

Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited