Santam Ltd. announced in addition to the cash dividend declared with the release of the interim results for the six months ended 30 June 2023 on Stock Exchange News Service on 31 August 2023, the Board assessed the financial position of the Company following the finalisation of the Transaction. To this end, the Board intends to distribute SAR 2 billion of the gross proceeds of the Transaction to Shareholders. The distribution will be implemented by way of a special cash dividend, subject to the approval by the Financial Surveillance Department of the South African Reserve Bank.

The Special Cash Dividend will be payable to Shareholders in proportion to their ordinary shareholding in Santam at the close of business on 06 October 2023 (the Record Date). Accordingly, the Board has declared a gross Special Cash Dividend of 1,780 cents per share, being 1,424 cents net of dividend withholding taxation, where applicable. The Special Cash Dividend has been declared from income reserves.

A dividend withholding tax of 20% will be applicable to all Shareholders who are not exempt. Payment date is 09 October 2023. Last day to trade cum dividend is 03 October 2023.

Shares trade ex-dividend is 04 October 2023.