DIVIDEND INFORMATION

DIVIDEND OVERVIEW


INTERIM AND SPECIAL DIVIDEND DECLARATIONS

The Board of directors has approved and declared an interim dividend of 45 cents per ordinary share and a special dividend of 100 cents per ordinary share.

The interim dividend targeting 40% of interim Adjusted Headline Earnings is in line with Old Mutual Limited’s dividend policy. The interim dividend will be paid out of distributable reserves and is payable on 16 October 2018 to all ordinary shareholders recorded on the record date. The dividend of 45 cents per ordinary share will be subject to a local dividend tax rate of 20% which will result in a net interim dividend, to those shareholders who are not exempt from paying dividend tax, of 36 cents per ordinary share. International shareholders who are not exempt or are not subject to a reduced rate in terms of a double taxation agreement will be subject to dividend withholding tax at a rate of 20%.

The special dividend of 100 cents per ordinary share is in line with our capital management policy of returning excess capital to shareholders and will be paid from distributable reserves on 16 October 2018 to all ordinary shareholders recorded on the record date, subject to the requisite South African Reserve Bank approval required for special dividends. The special dividend of 100 cents per ordinary share will be subject to a local dividend tax rate of 20% which will result in a net special dividend, to those shareholders who are not exempt from paying dividend tax, of 80 cents per ordinary share. International shareholders who are not exempt or are not subject to a reduced rate in terms of a double taxation agreement will be subject to dividend withholding tax at a rate of 20%.

Shareholders on the London, Malawian, Namibian and Zimbabwean registers will be paid in the local currency equivalents of the interim and special dividends. In Malawi, Namibia and Zimbabwe these payments will be made through dividend access trust or similar arrangements established in each country.

Old Mutual Limited’s income tax number is 9267358233. The number of ordinary shares in issue in the company’s share register at the date of declaration is 4,942,048,355.

CURRENCY EQUIVALENTS

The local currency equivalents of the Interim and Special dividend have now been established as follows:

Malawi: 69.05 Malawi kwacha per share
Namibia: 145 Namibian cents per share
United Kingdom: 7.27 GBP pence per share
Zimbabwe: 9.49 US cents per share

These local currency equivalents have been calculated using the following exchange rates:

Malawi: 47.6190 Malawian kwacha per Rand
Namibia: 1.0000 Namibian dollars per Rand
United Kingdom: 19.9449 Rand per Pound sterling
Zimbabwe: 15.2810 Rand per US dollar

The timetable pertaining to the Interim and Special dividend is as follows:

Transfers suspended between registersClose of business on Monday, 10 September 2018
Finalisation announcement and exchange rates announcedTuesday, 11 September 2018
Last day to trade cum dividend for shareholders on the South African Register and Malawi, Namibia and Zimbabwe branch registersTuesday, 18 September 2018
Ex-dividend date for shareholders on the South African Register and Malawi, Namibia and Zimbabwe branch registers Wednesday, 19 September 2018
Last day to trade cum dividend for shareholders on the UK register Wednesday, 19 September 2018
Ex-dividend date for shareholders on the UK register Thursday, 20 September 2018
Record date (all registers)Close of business on Friday, 21 September 2018
Transfers between registers restartOpening of business on Tuesday, 25 September 2018
Interim and Special Dividend payment dateTuesday, 16 October 2018

Share certificates for shareholders on the South African register may not be dematerialised or rematerialised between Wednesday, 19 September and Friday, 21 September 2018, both dates inclusive. Transfers between the registers may not take place between Tuesday, 11 September and Friday, 21 September 2018, both dates inclusive. Trading in shares held on the Namibian section of the principal register through Old Mutual (Namibia) Nominees (Pty) Limited will not be permitted between Tuesday, 18 September and Thursday, 20 September 2018, both dates inclusive.