Dealings in Securities: 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" or the "Group") DEALINGS IN SECURITIES: AWARD AND ACCEPTANCE OF SANTAM 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 (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 Director and the Company Secretary of Santam, that were awarded in terms of the Company's long-term incentive Performance Deferred Share Plan ("PDSP") and the PDSP with more stretched performance hurdles (referred to as the Out Performance Plan ("OPP")): Acceptance date: 30 November 2023 Nature of transaction: Off-market acceptance of fully paid up Santam shares awarded under the 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 (i.e. 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 conditional per share* of award Santam shares R Tavaziva Madzinga Executive Director 46,123 287.50 13 260 362.50 Ruwaida Eksteen Company Secretary 2,134 287.50 613 525.00 In addition, shareholders and noteholders are also advised of the acceptance of fully paid up Santam shares on 30 November 2023 awarded under the OPP, which will be subject to certain performance conditions being met over a measurement period of 5 years ending 31 December 2027. Name Designation Number of Market Value Conditional Value conditional per share* of award Santam shares R Tavaziva Madzinga Executive Director 263,847 287.50 75 856 012.50 Notably to highlight is that the award of conditional Santam shares under the PDSP and OPP is subject to meeting the 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. *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 04 December 2023. 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 05 December 2023 Sponsor: Investec Bank Limited Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 05-12-2023 16:00:00 Date: 05-12-2023 04:00:00 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.