Old Mutual : 2021 Interim Results Booklet (Double page)

OLD MUTUAL LIMITED

GROUP INTERIM RESULTS

For the six months ended 30 June 2021

DO GREAT THINGS EVERY DAY

Enquiries

Index

Investor Relations:
Sizwe Ndlovu	T: [phone]
	E: [e-mail]
Bonga Mriga	T: [phone]
	E: [e-mail]
Communications:
Vuyo Mtawa	M: [phone]
	E: [e-mail]
Cautionary Statement

This report may contain forward looking statements with respect to certain of Old Mutual Limited's plans and its current goals and expectations relating to its future financial condition, performance and results and, in particular, estimates of future cash flows and costs. By their nature, all forward looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Old Mutual Limited's control including amongst other things, domestic conditions across our operations as well as global economic and business conditions, market related risks such as fluctuations in equity market levels, interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing and impact of other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Old Mutual Limited and its affiliates operate. As a result, Old Mutual Limited's actual future financial

Results Presentation

Results Commentary

Unaudited Condensed

Consolidated Interim

Financial Statements

Additional Disclosures

condition, performance and results may differ materially from the plans, goals and expectations set forth in Old Mutual Limited's forward looking statements. Old Mutual Limited undertakes no obligation to update the forward looking statements contained in this report or any other forward looking statements it may make. Nothing in this report shall constitute an offer to sell or the solicitation of an offer to buy securities.

Notes to Editors

A webcast of the presentation of the 2021 Interim Results and Q&A will be broadcast live on 31 August 2021 at 11.00 am South African time on the Company's website www.oldmutual.com. Analysts and investors who wish to participate in the call may do so using the following link or telephone numbers below:

CLICK HERE

South Africa	[phone]
UK	[phone]
Australia	[phone]
USA	[phone]
International	[phone]
Replay Access Code	40216

The replay will be available until the 3 September 2021.

Pre-registration to participate in the call is available at the following link:

CLICK HERE

About Old Mutual Limited

Old Mutual is a premium African financial services Group that offers a broad spectrum of financial solutions to retail

and corporate customers across key market segments in 14 countries. Old Mutual's primary operations are in South Africa and the Rest of Africa, and we have a niche business in China. With over 176 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities they serve and the broader society on the continent.

For further information on Old Mutual Limited, and its underlying businesses, please visit the corporate website at www.oldmutual.com.

	Key Metrics	124
	Segment Key Performance Indicators	131
	Other Disclosures and Reconciliations	140
	Embedded Value	154
Segment Reviews
Glossary	166

INDEX

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

1

01

RESULTS PRESENTATION

RESULTS	INTERIM	SEGMENT	UNAUDITED CONDENSED	ADDITIONAL
PRESENTATION	RESULTS	REVIEWS	CONSOLIDATED INTERIM	DISCLOSURES
	COMMENTARY		FINANCIAL STATEMENTS

Growing from a firm foundation

Notes:

Agenda

Overview	Financial Review
GROUP CEO	GROUP CFO

Looking Ahead

Q&A

GROUP CEO

Notes:

DO GREAT THINGS EVERY DAY

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

3

Strategic

Objectives

Notes:

Our execution framework

BECOMING OUR

CUSTOMERS' FIRST CHOICE TO SUSTAIN, GROW AND PROTECT THEIR PROSPERITY

Notes:

RESULTS	INTERIM	SEGMENT	UNAUDITED CONDENSED	ADDITIONAL
PRESENTATION	RESULTS	REVIEWS	CONSOLIDATED INTERIM	DISCLOSURES
	COMMENTARY		FINANCIAL STATEMENTS

Execution framework accelerating delivery

RECTIFY		SIMPLIFY		AMPLIFY

Notes:

Execution framework accelerating delivery

	RECTIFY	Customers' first		Overall customer
	choice and
	sustainable returns		satisfaction
		for shareholders
		Intermediary		Improved capital
			optimisation and
		proposition
			efficient allocation

Notes:

4

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

5

Execution framework accelerating delivery

	SIMPLIFY	Announced	Digital platform
	Nedbank unbundling	take-up rates
		for dividend in specie	increasing
		1 million OMP	Winding down of
		policies in force	Residual plc

Notes:

Execution framework accelerating delivery

		R10 billion	90% of funeral
	AMPLIFY	mortality claims	claims paid within
	paid	4 hours, 80% in 2020
	1 million rewards	1.1 million active
		members, from	digital users, in
		826,000 in Dec-20	13 African markets
		Awarded Best ESG
		Responsible Investor
		(Africa)

Notes:

RESULTS	INTERIM	SEGMENT	UNAUDITED CONDENSED	ADDITIONAL
PRESENTATION	RESULTS	REVIEWS	CONSOLIDATED INTERIM	DISCLOSURES
	COMMENTARY		FINANCIAL STATEMENTS

What we've committed to investors

CHANGE	BUILD	REALISE	REGAIN
the trajectory of the	an entirely new	R750 million cost	competitive advantage in
customer experience	insurance business	efficiencies by 2022	Mass and Foundation Cluster

Notes:

What we've committed to investors

RE-ENERGISE	IMPROVE	EMBED
both customer and adviser	investment performance	digitalisation more
experience in Personal Finance	in Old Mutual Investments	firmly in our business
and Wealth Management								operations

Notes:

6

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

OLDMUTUAL Limited Group Interim Results for the six months ended 30 June 2021

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