Joint announcement - completion of SA transaction

In brief · summary, not quotable

South African component of Sanlam transaction closed; Sanlam now holds 12.5% of Ninety One.

Sanlam effective equity interest in Ninety One (DLC basis) approximately 12.5%
Sanlam effective economic interest excluding minorities (DLC basis) approximately 9.1%

Full announcement

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JSE Share Code: NY1

("Ninety One Limited")

NINETY ONE PLC

(Incorporated in England and Wales)

(Registration number: 12245293)

LSE Share Code: N91

JSE Share Code: N91

("Ninety One plc")

SANLAM LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1959/001562/06)

JSE & A2X Share Code: SLM; NSX Share Code: SLA

("Sanlam" or "Sanlam Group")

SANLAM LIFE INSURANCE LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1998/021121/06)

Bond Issuer Code: BISLI

("Sanlam Life")

JOINT ANNOUNCEMENT REGARDING THE FULFILMENT OF ALL SUSPENSIVE CONDITIONS TO, AND IMPLEMENTATION OF THE SOUTH AFRICAN TRANSACTION

Shareholders are referred to the joint announcements released by Sanlam and Ninety One (the dual-listed company consisting of Ninety One plc and Ninety One Limited) on 20 November 2024 and

6 March 2025 regarding the creation of a long-term active asset management relationship between Ninety One and Sanlam (the "Transaction"). The 6 March 2025 announcement provided details regarding the execution of key Operative Agreements relating to (i) the South African component of the Transaction (the "SA Transaction"); and (ii) the UK component of the Transaction (the "UK Transaction").

As previously announced by Ninety One and Sanlam on 17 June 2025, the UK Transaction closed on 16 June 2025.

Further to the announcement released by Ninety One earlier today, Sanlam and Ninety One are pleased to inform shareholders that all suspensive conditions relating to the SA Transaction have now been fulfilled. Accordingly, the SA Transaction became unconditional and closed today, Monday, 2 February 2026.

Following implementation of both the SA Transaction and UK Transaction, the Sanlam Group now holds an effective equity interest of approximately 12.5% in Ninety One on a dual-listed company ("DLC") basis, calculated on Ninety One's total issued share capital as at 2 February 2026. Excluding minority interests in Sanlam Investment Holdings Limited, the Sanlam Group's effective economic interest equates to approximately 9.1% in Ninety One on a DLC basis.

Ninety One Enquiries:

Ninety One Investor Relations

This announcement is being released simultaneously on the LSE and JSE in accordance with the rules applicable to dual listed company structures and will be made available on the Ninety One website at www.ninetyone.com.

JSE Sponsor to Ninety One:

J.P. Morgan Equities South Africa (Pty) Ltd

Financial Advisor to Ninety One:

Rothschild & Co South Africa (Pty) Ltd

Legal Advisors to Ninety One:

Edward Nathan Sonnenbergs Inc.

Linklaters LLP

Sanlam Enquiries:

Sanlam Investor Relations

JSE Equity Sponsor to Sanlam Limited:

The Standard Bank of South Africa Limited

JSE Debt Sponsor to Sanlam Life Insurance Limited:

The Standard Bank of South Africa Limited

NSX sponsor to Sanlam Ltd:

Simonis Storm Securities (Pty) Ltd

Legal Advisors to Sanlam:

Webber Wentzel

Allen Overy Shearman Sterling LLP

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.