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Introduction to Sanlam UK & high level strategy

Introduction to Sanlam UK & high level strategy. 14 August 2010. 1. Platform for IFA aggregation strategy Acquired in April 2008, 66% owned at May 2010 37 advisors at June 2010, advising approx 14,000 clients. Life & pensions company Acquired 100% in December 2003

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Introduction to Sanlam UK & high level strategy

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  1. Introduction to Sanlam UK & high level strategy 14 August 2010 1

  2. Platform for IFA aggregation strategy • Acquired in April 2008, 66% owned at May 2010 • 37 advisorsat June 2010, advising approx 14,000 clients • Life & pensions company • Acquired 100% in December 2003 • 120 000 policyholders and FUM of approx £1.6bn at June 2010 • Private client investment management business • Acquired in March 2008, 93% owned at June 2010 • 5,400 clients and FUM of approx £1.1bn at June 2010 • Distribution network of financial advisors • Began trading in March 2006, 28% owned by Sanlam. • In four years, it has grown to over 1,650 advisors – the 4th largest network in the UK • Actuarial consulting, investment consulting, wealth management, independent financial advice, investment management • 26% shareholding • FUM of approx £8bn • IFA-controlled wrap platform • Funded by Sanlam since 2006, ultimate stake could dilute to 30% • 65 participating IFA firms with assets on the platform of over £1.4bn 2

  3. Current positioning & linkages Business to business Business to consumer Private client solutions Model Portfolios Wrap Product wrappers Private client solutions Financial advice Admin FM Nucleus MI Principal Buckles FM Fund solutions to Supporting IFAs Financial solution support 3

  4. Vision Sanlam UK‘s vision is to be a meaningful and respected wealth creation player within UK retail financial services. This will be achieved by positioning the business in the UK long- term savings market by providing its products and services: • either on an individual company/entity level (for example using the Principal trading style for private client services and Nucleus for wrap services) or • on a combined basis (using the Sanlam brand, for example in wealth management, model portfolios and niche product or service offerings). Products and services will be distributed to our elected client market segment either on an intermediated or a direct to client basis.

  5. VISION 2014 (business model) Intermediated (B2B) Direct (B2C) DISTRIBUTION MANAGEMENT Promotes access to products & services RETAIL INVESTMENT MANAGEMENT PC Solutions Portfolio services Asset allocation & Fund selection PLATFORM Investment wrappers Decumalation & other niche products DIF ‘s WRAP SERVICE FINANCIAL ADVICE Investments Pensions Protection WEALTH MANAGEMENT Integrated advice led proposition PROTECTION PRODUCTS PRINCIPAL MI NUCLEUS BUCKLES DEBTMANAGEMENT 5

  6. Market opportunity UK is experiencing a rapidly changing IFA & provider landscape driven by regulatory and economic pressures Resulting in a shift in IFA business models and sentiment, consolidation and potentially the exit of participants Sanlam UK can grow its share in the retail investment market by: Its B2B approach Through our differentiated intermediary distribution model and scope of engagement. Core to our proposition is to provide firms with the process and know how to de-risk their business and build value in their businesses. Leveraging the investment management skills in Principal Its partnership with Nucleus Its B2C approach Establishing a wealth management advisory business based on a “trusted advisor” client centric model Widening the breadth of our financial solutions on the back of our greater distribution reach 6

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