OLD MUTUAL AT A GLANCE 21 November 2011

Winner Best UK Platform – Professional Adviser Awards Best Customer Service Old Mutual (SA), 4th year in a row WHO WE ARE  An international long-term savings, protect and investment group  Established in South Africa in 1845  Based in London and operating in 33 countries  Serving over 15 million customers  Employing over 54,000 people Most Prominent Brand & Best Reputation: Skandiabanken Norway +7.4% Growth Of Primary Account Holders with Nedbank Top 10% Ranking of UK & SA companies reporting to the Carbon Disclosure Project £5.7bn Wealth Management Single premiums up 34% to £5.7bn Figures as at Dec 2010

WHAT WE DO Investment management and innovative life assurance based solutions, addressing both protection and retirement savings needs Growing our customers’ savings and wealth, whether through active and direct asset management or the selection of funds and managers for customers to invest in We have a majority shareholding in Nedbank, as well as banking interests in Sweden and Norway through Skandiabanken Short-term insurance products in southern Africa through Mutual & Federal and iWYZE, our direct offering. LONG-TERM SAVINGS US ASSET MANAGEMENT BANKING SHORT-TERM INSURANCE

WHERE WE DO IT This is not a complete list of our brands. Our US and South Africa Asset Management businesses have a number of separately branded boutiques. *

OUR HISTORY 1845 Scotsman John Fairbairn founds The Mutual Life Assurance Society 1870 Our logo is designed by board chairman Charles Bell 1970 Old Mutual acquires a majority shareholding in the newly-formed Mutual & Federal 1973 Old Mutual acquires a shareholding in Nedbank 1999 Old Mutual demutualises and lists 2000 Old Mutual acquires United Asset Management in the US 2005 Black Economic Empowerment deal introduced in South Africa 2006 Old Mutual completes the acquisition of Skandia 2010 Julian Roberts becomes Group Chief Executive in 2008 Adoption of a new strategy and operating model in 2010 Skandia founded in Stockholm Skandia launches in Colombia Skandia launches in the UK Skandiabanken founded

OUR VISION To become our customers’ most trusted partner - passionate about helping them achieve their lifetime financial goals.

OUR STRATEGY Build a cohesive long-term savings, protection and investment group by leveraging the strength of our people and capabilities in South Africa and around the world. We will focus, drive and optimise our businesses to enhance value for customers and shareholders. 1Develop the customer proposition and experience 2Deliver high performance in all business units 3Share skills and experience across the group 4Build a culture of excellence 5Simplify our structure to unlock value Our strategic priorities 5

GROUP EXECUTIVE COMMITTEE From the left: Peter Bain, Don Hope, Mike Brown, Julian Roberts, Andrew Birrell, Don Schneider, Philip Broadley, Paul Hanratty

Peter Todd* MUTUAL & FEDERAL OUR STRUCTURE Julian Roberts OLD MUTUAL GROUP EMERGING MARKETS NORDICRETAIL EUROPE WEALTH MANAGEMENT The above is how the Business is structured and does not include the parts of the Group Executive who do not have direct Business Unit responsibility. * Not on the Group ExCo Peter Bain US ASSET MANAGEMENT Mike Brown NEDBANK Paul Hanratty LONG-TERM SAVINGS

OUR STRUCTURE – LTS: EMERGING MARKETS LATIN AMERICA Colombia, Mexico OLD MUTUAL INVESTMENT GROUP (OMIGSA) JOINT VENTURES IN CHINA & INDIA CORPORATE RETAIL MASS RETAIL AFFLUENT REST OF AFRICA OLD MUTUAL SOUTH AFRICA NEW MARKETS LIFE AND SAVINGS Kuseni Dlamini EMERGING MARKETS

SKANDIA UK OUR STRUCTURE – LTS: WEALTH MANAGEMENT SKANDIA INTERNATIONAL CONTINENTAL EUROPE (France, Italy) SKANDIA INVESTMENT GROUP (SIG) Paul Hanratty WEALTH MANAGEMENT

SWEDEN OUR STRUCTURE – LTS: NORDIC NORWAYDENMARK Mårten Andersson NORDIC

AUSTRIA OUR STRUCTURE – LTS: RETAIL EUROPE Jonas Jonsson RETAIL EUROPE GERMANYPOLANDSWITZERLAND

FINANCIAL HIGHLIGHTS Year to 31 December * Net client cash flow (£bn) (5.7) (1.8) Funds under management (£bn) Operating profit (IFRS) (£m) 1,481 1,133 Embedded value per share (p) Earnings per share (p) Return on Equity (%) Dividend per share (p) * 2009 restated to treat US Life and Bermuda as non-core

BUSINESSES CONTRIBUTION TO THE GROUP Funds Under Management (FUM) Adjusted Operating Profit (AOP)

HOW WE DO BUSINESS We are committed to being a responsible corporate citizen in the many communities in which we operate. We express this through our:  Corporate values  Responsible Business Policy  Commitment to and interaction with our stakeholders (see diagram)