Old Mutual acquires Ghana’s Provident Life Assurance Company

Old Mutual today announces that its acquisition of a majority stake in Ghana’s Provident Life
Assurance Company has become unconditional.

The deal has been approved by the Financial Services Board (FSB) o
f South Africa and the National
Insurance Commission (NIC) of Ghana.

Ralph Mupita, CEO of Old Mutual Emerging Markets, commented: “With distribution in four cities in
Ghana – Accra, Kumasi, Takoradi and Tema – Provident Life Assurance Company provides excellent
opportunities for Old Mutual, giving impetus to our expansion strategy in West Africa.”