Director/PDMR Shareholding

1.

Details of the person discharging managerial responsibilities (PDMR) / person closely associated (PCA)

a)

Name of natural person

Moyo, Mthandazo, Peter

2.

Reason for the notification

a)

Position / status

Chief Executive Office

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission market participant, auction platform, auctioneer or auction monitor

a)

Full name of the entity

OLD MUTUAL LIMITED

b)

Legal Entity Identifier Code

213800MON84ZWWPQCN47

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Forfeitable Old Mutual Limited Ordinary Shares

b)

Identification Code

ZAE000255360

c)

Nature of the transaction

Award of Broad-Based Employee forfeitable shares under the terms of the Old Mutual Limited Employee Share Ownership Plan

d)

Currency

ZAR

e)

Price(s) and volume(s)

f)

Aggregated information

- Aggregated volume

- Price

- Total

336

R29.80

R10,000.00

g)

Date of transaction

18 September 2018

h)

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities (PDMR) / person closely associated (PCA)

a)

Name of natural person

Moyo, Mthandazo, Peter

2.

Reason for the notification

a)

Position / status

Chief Executive Office

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission market participant, auction platform, auctioneer or auction monitor

a)

Full name of the entity

OLD MUTUAL LIMITED

b)

Legal Entity Identifier Code

213800MON84ZWWPQCN47

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Employee Share Ownership Plan (ESOP)

b)

Identification Code

ZAE000255360

c)

Nature of the transaction

Award of Managed Separation Incentive forfeitable shares granted under the terms of the Old Mutual Limited Employee Share Ownership Plan

d)

Currency

ZAR

e)

Price(s) and volume(s)

f)

Aggregated information

- Aggregated volume

- Price

- Total

227,140

R29.80

R6,768,750.00

g)

Date of transaction

18 September 2018

h)

Place of the transaction

Outside of trading venue