SANTAM LIMITED - Dealings in Securities and the Award and Acceptance of Santam Shares

Dealings in Securities and the Award and Acceptance of Santam Shares

SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
LEI: 37890092DC55C7D94B35
JSE Share Code: SNT & ISIN: ZAE000093779
A2X Share Code: SNT
NSX Share Code: SNM
Bond Company Code: BISAN
("Santam" or "the Company")


DEALINGS IN SECURITIES AND THE AWARD AND ACCEPTANCE OF SANTAM SHARES

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements and paragraphs 6.45 to 6.48 of
the Debt and Specialist Securities Listings Requirements of the JSE Limited (hereafter collectively referred
to as the "Listings Requirements"), shareholders and noteholders are advised of the following information
regarding the acceptance of conditional Santam shares, by the undermentioned Executive Directors and
the Company Secretary of Santam, that were awarded in terms of the Company's long-term incentive
Performance Deferred Share Plan ("PDSP"):

Acceptance date:                                     01 October 2025
Nature of transaction:                               Off-market acceptance of fully paid up Santam shares
                                                     awarded under the Company's PDSP. The release of
                                                     these shares is subject to pre-determined conditions
                                                     over the vesting period of 5 years.
Vesting period:                                      40% after 3 years; 30% after 4 years; and 30% after 5
                                                     years (subject to meeting the vesting conditions)
Class of securities:                                 Ordinary shares
Extent of interest:                                  Direct, beneficial
Clearance Obtained:                                  Yes


Name                     Designation           Number of          Market Value     Conditional value of
                                               conditional        per share*       the award
                                               Santam shares
Tavaziva Madzinga        Executive Director    15,882              R 380,55           R    6,043,895.10
Wikus Olivier            Executive Director     8,835              R 380,55           R    3,362,159.25
Ruwaida Eksteen          Company Secretary      1,324              R 380,55           R      503,848.20

*Shareholders and noteholders are further advised that the calculation of the market value of these awards
is based upon the closing Santam share price as at 01 October 2025.

The award of conditional Santam shares under the PDSP is subject to meeting pre-determined vesting
conditions and will only be delivered to the extent that these conditions are met. No voting or dividend
rights are attached thereto, prior to vesting.

In addition, shareholders and noteholders are also advised of the following dealings in Santam shares:

Executive Director:                                  Wikus Olivier
Transaction date:                                    01 October 2025
Nature of transaction:                               Off-market transfer of Santam shares due for delivery
                                                     or release, in accordance with the Company's
                                                     Restricted Share Plan ("RSP") to Santam's Minimum
                                                     Shareholding Requirement Plan ("MSRP") following
                                                     the pledge of these shares to Santam's MSRP
Class of securities:                                 Ordinary shares
Extent of interest:                                  Direct, beneficial
Clearance Obtained:                                  Yes
Number of shares:                                    7,429
Transaction Value:                                   R nil (Conditional value of R2,827,105.95 based on
                                                     the closing price of R 380,55 per share on 01 October
                                                     2025)

Executive Director:                                  Tavaziva Madzinga
Transaction date:                                    02 October 2025
Nature of transaction:                               On-market purchase of shares
Class of security:                                   Ordinary shares
Extent of interest:                                  Direct, beneficial
Clearance Obtained:                                  Yes
Number of shares:                                    850
VWAP per share:                                      R373.0946
Lowest price:                                        R372.64
Highest price:                                       R373.80
Transaction Value:                                   R317,130.41

The requisite clearances and approvals for the abovementioned transactions have been obtained in
compliance with the Company's Securities Dealing Policy and the relevant procedures of Santam as well
as the Listings Requirements.


CAPE TOWN
02 October 2025


Equity and Debt Sponsor: Investec Bank Limited
NSX Sponsor: Simonis Storm Securities (Pty) Ltd (a member of the Namibian Securities Exchange)

Date: 02-10-2025 05:30:00
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.