SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
JSE Share Code: SNT & ISIN: ZAE000093779
NSX share code: SNM
Debt company code: BISAN
(‘Santam’ or the ‘Company’)

DEALINGS IN SECURITIES

Award and acceptance of conditional shares

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements and
paragraphs 6.42 to 6.45 of the Debt Listings Requirements of the JSE Limited
(collectively, the ‘Listings Requirements’), we hereby provide the following
information regarding the award to, and the acceptance of, conditional shares
by the undermentioned Executive Directors and the Company Secretary of the
Company.

Conditional shares
Acceptance date:                             14 December 2022
Nature of transaction:                       Off-market acceptance of conditional
                                             undertaking in terms of the Santam
                                             Limited Performance Deferred Share
                                             Plan to receive fully paid-up shares
                                             on a future date should certain pre-
                                             determined retention and performance
                                             hurdles be met.

Vesting date for settlement:                 40% in 2025; 30% in 2026 and 30% in
                                             2027

Class of securities:                         Ordinary shares
Extent of interest:                          Direct, beneficial
Clearance Obtained:                          Yes


Name                   Designation          Number of     Market      Value of
                                            conditional   Value per   award
                                            shares        share*                 R
Tavaziva Chadamoyo     Executive Director   44 255        251.74      11 140 753.70
Madzinga
Hendrik David Nel      Executive Director   9 785         251.74       2 463 275.90
Ruwaida Eksteen        Company Secretary    3 219         251.74         810 351.06

*Shareholders and noteholders are advised that the calculation of the value of
these awards is based upon the closing Santam share price as at 14 December
2022.

The requisite clearances and approvals for the abovementioned transactions have
been obtained in compliance with the Securities Dealing Policies and Procedures
of Santam as well as the Listings Requirements.


Cape Town
15 December 2022
Equity Sponsor: Investec Bank Limited
Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 15-12-2022 16:00:00

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