MMIG- Notification of change in Auditor, Appointment of Company Secretary and Proposed Acquisition by the Guarantor Momentum Metropolitan Life Limited (Formerly MMI Group Limited) Incorporated in the Republic of South Africa Registration No. 1904/002186/06 Company code: MMIG (“MML” or “the Issuer”) NOTIFICATION OF A CHANGE IN AUDITOR, APPOINTMENT OF THE COMPANY SECRETARY AND A PROPOSED ACQUISITION ANNOUNCED BY THE GUARANTOR CHANGE IN AUDITOR In June 2017, the Independent Regulatory Board of Auditors published a rule prescribing that auditors of public interest entities in South Africa must comply with mandatory audit firm rotation (“MAFR”), whereby audit firms shall not serve as the appointed auditor of a public interest entity for more than 10 consecutive years, with effect from 1 April 2023. The board of the Issuer, together with its Audit Committee, has resolved to early adopt MAFR. As a consequence, PricewaterhouseCoopers Inc. will rotate off the Issuer’s audit on conclusion of its external audit responsibilities for the year ended 30 June 2019, expected to be at the conclusion of the Momentum Metropolitan Holdings Limited (the “Guarantor”) annual general meeting to be held on 26 November 2019. Noteholders will be informed of the new firm appointed as external auditors once all regulatory approvals have been obtained. The change of the external audit firm will be tabled for approval by the Guarantor’s shareholders at the next annual general meeting. APPOINTMENT OF THE COMPANY SECRETARY The board is pleased to announce that Ms Gcobisa Tyusha has been appointed as Group Company Secretary of the Issuer and Momentum Metropolitan Holdings Limited with effect from 1 July 2019. The board is satisfied that Ms Tyusha has the necessary experience and expertise to fulfil the role of Group Company Secretary. Ms Tyusha will replace CorpStat Governance Services (Pty) Ltd represented by Karen Waldeck, who acted as Interim Group Company Secretary. The board wishes to extend their thanks to CorpStat Governance Services (Pty) Ltd for their services provided during their tenure. PROPOSED ACQUISITION ANNOUNCED BY THE GUARANTOR Further to the announcement released by Momentum Metropolitan Holdings Limited (“the Group”), as the Guarantor to the Unsecured Subordinated Note Programme dated 8 March 2019, on SENS on 25 July 2019 (“the Proposed Transaction Announcement”), the Guarantor had announced that the Group, through its wholly-owned subsidiary, Momentum Metropolitan Strategic Investments Proprietary Limited, had entered into an agreement to acquire the Alexander Forbes Short-term Insurance business, directly held through Alexander Forbes Limited, an indirect subsidiary of Alexander Forbes Group Holdings Limited, an entity listed on the JSE (“the Proposed Transaction”). For further details on the Proposed Transaction, noteholders are referred to the Proposed Transaction Announcement. 11 September 2019 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11/09/2019 01:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.