OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - Appointment of Prabashini Moodley as Chief Executive Officer of New Life and Savings Segment

Appointment of Prabashini Moodley as Chief Executive Officer of New Life and Savings Segment

OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
Incorporated in the Republic of South Africa
Registration number 1999/004643/06
JSE alpha code: BOLDM
("OMLACSA")

APPOINTMENT OF PRABASHINI MOODLEY AS CHIEF EXECUTIVE OFFICER OF NEW LIFE & SAVINGS
SEGMENT AND SHIFT OF EXECUTIVE OVERSIGHT OF OLD MUTUAL FINANCE AND OLD MUTUAL
TRANSACTION SERVICES TO OM BANK CEO CLARENCE NETHENGWE


Debtholders are hereby notified of the appointment of Ms Prabashini Moodley as Chief Executive
Officer (CEO) of Old Mutual's newly configured Life and Savings segment, effective 1 August 2025.
Prabashini will report directly to the Old Mutual Group CEO, Jurie Strydom. The Life and Savings
segment will consist of four business units namely, Personal Finance, Old Mutual Wealth
Management, Old Mutual Corporate, and the Mass and Foundation Cluster (MFC) - excluding
banking. The Managing Directors of these business units will report to Prabashini.
The formation of the Life and Savings segment will ultimately enable more effective delivery to
customers and intermediaries in South Africa and greater leveraging of the benefits of scale
efficiencies in key areas.

Prabashini is currently the Managing Director of Old Mutual Corporate and has enjoyed a long and
successful career at Old Mutual. She joined the Group in 2002 and qualified as an actuary shortly
thereafter. Prabashini also holds a Global Executive MBA from IESE Business School and has served
in various roles across Personal Finance, Old Mutual Investment Group, and the MFC, including four
years as the MFC's Chief Financial Officer. Her international experience includes a tenure at Skandia
México, where she established and led a customer segment business.

Old Mutual Group CEO Jurie Strydom said: "I want to congratulate Prabashini on her well-deserved
appointment. I am confident that Prabashini will bring the clarity, energy, and accountability needed
to lead her team and create value across these business units. In addition, the shift of Old Mutual
Finance and Old Mutual Transaction Services to fall under the executive oversight of OM Bank CEO
Clarence Nethengwe, marks a strategic step in aligning Old Mutual's banking operations in South
Africa as we prepare for the launch of OM Bank."
These changes reflect Old Mutual's continued commitment to enhancing organisational
effectiveness, driving operational efficiency, and delivering sustainable value to customers and all
stakeholders.

Sandton
7 July 2025
Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 07-07-2025 09:05:00
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