Sanlam Limited · JSE:SLM
Sanlam — Corporate Update (April 2026)
71 slides from Sanlam's corporate update, April 2026
Slide 1: In Conversation with Sanlam Corporate
In Conversation with Sanlam Corporate 1
Slide 2: The Power of Practical Conversation
The Power of Practical Conversation Welcome & Introduction Sumendren Naidoo from today’s MC Head: Distribution Sanlam Corporate: Corporate Solutions 2
Slide 3: Agenda
AGENDA Reducing Risk Through CDD: A Practical Guide for New Business Success The Power of Corporate Wellness: Insights That Boost Client Engagement Intermediary Edge: Leveraging Group Risk Insights for Greater Client Impact Clarity over Complexity: Practical Insights into Investment Reviews
Slide 4: Reducing Risk Through CDD: A Practical Guide for New Business Success
Reducing Risk Through Customer Due Diligence (CDD): A Practical Guide for New Business Success Johan Prinsloo Head: Governance Support Sanlam Corporate 4
Slide 5: Governance framework
Governance framework FATF On-site visits Put controls in Financial Action remediation place to manage Task Force: penalties AML risks international body – 200 member countries FIC FSCA On-site visits Reporting and remediation monitoring penalties 5
Slide 6: Why CDD is important
Why CDD is important Ethical Conduct Prevent Legal FICA Financial Crime & Protect Clients Consequences & Sanlam Sanlam as an Detect and Safeguarding Failure to comply accountable prevent AML risks Client assets and can lead to institution MUST maintain trust in penalties, manage risks E.g. Sanctione
Slide 7: Although low, the risk is real
Although low, the risk is real “Wherever there is money, there is motive…” Employee AI used for Estate-late Murder for Source of Benefits Deep Fakes fraud Money Funds Anti-Money Impersonate Theft of client Actual / fake illicitly obtained Laundering (AML) individuals, identity to submit death claims
Slide 8: What has changed in the SC world?
What has changed in the SC world? Due to low AML activities secondary AML risk in the past to onboarding processes Although now changed…It triggered SA’s grey intense scrutiny by regulatory listing authorities with additional focus on the Insurance Sector Publication 25% to 5% Ultimate of PCC59 Bene
Slide 9: What is CDD?
What is CDD? Risk Ongoing Due Identification Verification Screening assessments Diligence Determine if any person associated with a client is a Sanctioned Individual or Politically Exposed Person, making them more prone for AML risks. *Very similar to the process followed by banks for clients with b
Slide 10: What is required in practice?
What is required in practice? Obtain completed on-boarding form Obtain supporting CDD (FICA) information based on the client’s legal entity type SGR refer “Guide” SUS refer “Due Diligence Flash Fact” Private and unlisted public companies NB is Ultimate Beneficial Ownership (UBO) Shareholding organog
Slide 11: Important to note
Important to note: Complete information avoids back and forth List of authorised signatories must be completed on the template we provide + resolution No/incomplete documents = no onboarding CDD and effective date is time sensitive. We cannot receive premiums or contributions before the CDD is compl
Slide 12: What are we doing to make things easier?
What are we doing to make things easier? Verification platform upgrade: XDS Get updated company information for Pty’s, Ltd’s, CCs, NPC’s – in the past outdated info caused delays Verification of a registered trust & linked parties. Pre-2020 trusts: must still get letter of authority & trust deed to
Slide 13: What are we doing to make things easier?
What are we doing to make things easier? Onboarding process being digitized – dynamic application forms according to product acceptance quotation e.g. funeral only will have funeral only questions. Delivery of first sprint expected Q2 2026 Further developments to follow 13
Slide 14: What are we doing to make things easier?
What are we doing to make things easier? UBO tiered approach – Companies/trusts: form Shareholding organogram or Simplified Ultimate explaining why info cannot be supporting documentation Beneficial Ownership form provided + persons exercising effective control 14
Slide 15: Example
Example Combination of Direct and Multi-Level Indirect Shareholding Legal Entity 1 Natural Person 1 owns shares directly and indirectly through 96% 4% Legal Entity 2 and Legal Entity 3 [4% + (96% x 60% = 57.6%) = 61.6%]. Natural Person 2 [(96% x 40%) x 10% = 3.8%] is not an Legal Entity 2 Natural Pe
Slide 16: Thank you
Thank you Sanlam 16
Slide 17: The Power of Corporate Wellness
The Power of Corporate Wellness Insights that boost client engagement Katleho Mosehle Head: Coastal Sales and Distribution Sanlam Health Solutions 17
Slide 18: Disease Burden and Industry Impact
Disease Burden and Industry Impact Psychosocial stressors Poor work performance Absenteeism / presenteeism High staff turnover / poor retention Impact on business productivity Sanlam Benchmark report, 2023 18
Slide 19: Mental Health
Mental Health In the report released by the Annual The Mental State of the World report states that South Africa had the Mental State of the World by Sapien lowest MHQ (Mental Health Quotient) score of 46% out of 34 Labs in March 2022 (responses from countries (Mental Health Million Project, 2021) 2
Slide 20: How do we solve for these Challenges?
How do we solve for these Challenges? Encourage proactive wellness Build mental resilience Deliver accessible primary Extend affordable health Integrated disability & critical Preventative, data driven Strengthen emotional and healthcare protection illness prevention strategy healthcare approach psy
Slide 21: Wellness Offering
Wellness Offering Medical Aid R125.86 or Primary Wellness Executive 3% plus EAP Gap Cover Health Screening Wellness VAT, 5% 15-20%* Insurance 5% 3% whichever 12.5% is less Medical Aid R125.86 or Primary Wellness Gap Cover Health Executive 3% plus EAP Wellness Screening Insurance VAT, 5% 15-20%* whic
Slide 22: Primary Health Insurance Solution
Primary Health Insurance Solution Value Proposition PHI offers access to affordable, high-quality basic healthcare for employees The PHI market is estimated to grow at 5% per year Competitive pricing supports easier client conversion and provides access to previously uninsured markets Strong cross-s
Slide 23: Primary Health Insurance
Primary Health Insurance Red, Amber, Green status Sanlam Service Provider B Service Provider C Service Provider D Unlimited face to face Limited consultations, Unlimited – only one GP Access consultations, no GP Unlimited – buy up nominated GP Virtual Consultation only nomination Funeral/Accidental
Slide 24: Wellness offering
Wellness screening Clinics (larger clients Corporate Nurse with specific needs) Wellness Occupational offering health Executive (larger clients Wellness with specific needs) EAP EAP (virtual) (comprehensive) 24
Slide 25: EAP Solution
EAP Solution Value Proposition 24/7 confidential support for employees and immediate family members Reduced sick leave & presenteeism Improved employee engagement & productivity Strong preventative wellness solution Reduce costs related to employee turnover EAPs help mitigate risks associated with d
Slide 26: Case Study
Case Study Executive Wellness Profile: Senior Executive - chronic stress, frequent bloating and poor sleep patterns. Referred for executive wellness screening. Screening conducted: A confidential and comprehensive medical, physical and mental assessment comprising of: • Full blood work including sto
Slide 27: Broker Takeaway
Broker Takeaway Differentiated wellness solution Strong employer value proposition Retention and cost containment tool Supports wellness conversations Ongoing engagements post the In Conversation Session 9. 27
Slide 28: Thank you
Thank you @ Sanlam 28
Slide 29: Intermediary Edge: Leveraging Group Risk Insights
Intermediary Edge: Leveraging Group Risk Insights For greater Client Impact Reinier van Gisjen Head: Pricing & Governance Sanlam Group Risk 29
Slide 30: Mortality recovery 2023-2024
Mortality recovery 2023-2024 Mortality rates decreasing Bigger problem: Causes of death Natural causes pointing to a problem for society 30
Slide 31: 86% of all deaths
Diabetes mellitus (leading cause of death) Hypertensive Chronic lower diseases respiratory (high blood diseases pressure) Ischaemic Cerebrovascu heart disease lar diseases (heart (mainly stroke attacks) 86% of all deaths Other viral HIV disease diseases Other forms Influenza and of heart pneumonia d
Slide 32: Where should we invest?
Where should we invest? National data clearly points to: Preventative screening Wellness programmes aligned to rather than reactive care diabetes, BP & cardiovascular risk Strong disability & death cover Integrated health & group risk strategy even for younger staff not siloed benefits 32
Slide 33: Causes of Critical Illness Claims 2025
Causes of Critical Illness Claims 2025 Cancers Heart Attacks and strokes Heart Attacks and strokes, 32.12% Kidney, bladder and reproductive organ conditions Cancers, 55.84% Nervous system and sense organs Musculoskeletal system Infections Violence non-military Mental disorders Kidney, bladder and re
Slide 34: Causes Income Disability Claims 2025
Causes Income Disability Claims 2025 Violence non-military, Musculoskeletal system 9.47% Heart Attacks and strokes Nervous system and sense Cancers organs, 10.53% Mental disorders Nervous system and sense organs Violence non-military Respiratory system Kidney, bladder and reproductive organ conditio
Slide 35: Funeral claims paid to estates
Funeral claims paid to estates Beneficiary Delays in paying Nomination Forms Digital form via Unapproved death WhatsApp (pilot) and funeral claims Up from <0.25% to 19% of claims Payment to Estate Adoption of 80-fold increase: impacts family of 1 in 400 to 1 in 5 standardized form deceased 4.5x long
Slide 36: Funeral Insurance: Claims Fraud
Funeral Insurance: Claims Fraud Funeral insurance remains South Africa's top fraud type, surpassing death, disability, and retrenchment in total case volume. Funeral fraud part of “fraudulent and dishonest life insurance claims” was the 2nd largest fraud category overall in 2023 and 2024 (after remu
Slide 37: Co-Creating the Way Forward
Co-Creating the Way Forward Insurance gap is a crisis - especially among the vulnerable Women face greater gap and therefore greater challenges Poorest 20% rely on government grants for disability cover Underinsurance greatest among younger earners Limpopo and Mpumalanga are lagging behind. Partner
Slide 38: Thank you
Thank you @ Sanlam 38
Slide 39: How to choose an appropriate default investment strategy
How to choose an appropriate Ashley Daswa default investment 1 Senior Investment Specialist Sanlam Corporate Investments strategy for your members Solly Tsie Head: Investment Strategy Sanlam Corporate Investments
Slide 40: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members Can your members tolerate frequent short-term market negative returns (volatility1) in exchange for higher expected long-term returns? 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its ave
Slide 41: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its average return (standard deviation) 41
Slide 42: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members Lifestage Strategy 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its average return (standard deviation) 42
Slide 43: Lifestage Strategy
Lifestage Strategy 43
Slide 44: Lifestage Strategy
Lifestage Strategy Accumulation phase Preservation phase Assets split between the 100% to Capital 100% accumulation phase Protection Accumulation Phase portfolio and the Preservation preservation phase portfolio portfolio Portfolio 50 Monthly Switches Years to retirement 40 4 2 Sanlam Accumulation P
Slide 45: Lifestage Strategy
Lifestage Strategy Are your members willing to take higher investment risk in return for higher expected long-term returns (and not concerned about short-term negative market movements) OR want to be in a portfolio that considers what other portfolios in the market are doing (i.e., peer cognisant2)?
Slide 46: Higher investment risk
Higher investment risk
Slide 47: Lifestage Strategy
Lifestage Strategy Higher investment risk in exchange for higher expected long-term returns Is minimising fees a priority Yes No for your members? Satrix Enhanced Sanlam Accumulation Balanced Tracker Fund Portfolio 47
Slide 48: 48
48
Slide 49: Lifestage Strategy
Lifestage Strategy Peer cognisant Do your members prefer a portfolio comprising exclusively of Sanlam investments capabilities OR prefer a multi-managed portfolio (i.e., a portfolio consisting of several investment managers with Sanlam responsible for manager selection)? 49
Slide 50: Lifestage Strategy
Lifestage Strategy Peer cognisant Sanlam Investments Multi-managed portfolio Do your members prefer a portfolio comprising exclusively of Sanlam investments capabilities Sanlam Blue Sanlam OR Lifestage Wealth Accumulation prefer a Creation Portfolio multi-managed portfolio Portfolio (i.e., a portfol
Slide 51: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members Can your members tolerate frequent short-term market negative returns (volatility1) in exchange for higher expected long-term returns? 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its ave
Slide 52: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its average return (standard deviation) 52
Slide 53: Choosing an appropriate Default Investment Strategy
Choosing an appropriate Default Investment Strategy for your members Protection Strategy 1. Portfolio volatility is the measure of how much an investment’s returns can vary from its average return (standard deviation) 53
Slide 54: Protection Strategy
Protection Strategy 54
Slide 55: Protection Strategy
Protection Strategy Do your members prefer a smoother ride to retirement, Comfortable OR with some A smoother negative ride to are comfortable with some returns over retirement negative returns over the the short-term in exchanged short-term for higher returns over the long-term? 55
Slide 56: Protection Strategy
Protection Strategy A smoother ride to retirement 100% vested bonuses Partially vesting bonuses Do your members require Sanlam Secure 100% vested bonuses Sanlam Stable Strategy OR Strategy partially vesting bonuses2? 1. Portfolio volatility is the measure of how much an investment’s returns can vary
Slide 57: Protection Strategy
Protection Strategy A smoother ride to retirement 100% vested bonuses Partially vesting bonuses Do your members require Sanlam Secure 100% vested bonuses Sanlam Stable Strategy OR Strategy partially vesting bonuses2? 1. Portfolio volatility is the measure of how much an investment’s returns can vary
Slide 58: Protection Strategy
Protection Strategy Comfortable with some negative returns over the short-term Volatility Strategy 58
Slide 59: Market & Economic Overview
Market & Economic Overview 59
Slide 60: Market performance as at March 2026
Market performance as at 31 March 2026 All performance numbers are in ZAR 60
Slide 61: Fees
Fees Sanlam 61
Slide 62: Sanlam Umbrella Fund defaults fees
Sanlam Umbrella Fund defaults fees Sanlam Umbrella Fund: Total Investment costs As at December2025 Total Expense Guarantee Ratio( Including Total Investment Performance Fees Trading Costs Premium Guarantee Costs (Incl. in TER) Premium) Lifestage Rates Sanlam Accumulation Lifestage Sanlam Lifestage A
Slide 63: Investment performance vs Peers
Investment performance vs Peers for each of the portfolios 63
Slide 64: Performance relative to large umbrella funds lifestage strategies (multi-managed portfolios)
Performance relative to large umbrella funds lifestage strategies (multi-managed portfolios) YTD 1 year 3 years 5 years Sanlam Sanlam OM MM Infl. Plus 5- AF High Growth 15.0% Accumulation 6.0% 29.1% Accumulation 18.0% 7% Portfolio Portfolio Sanlam Accumulation AF High Growth 5.8% AF High Growth 29.0
Slide 65: Performance relative to large umbrella funds lifestage strategies (multi-managed portfolios)
Performance relative to large umbrella funds lifestage strategies (multi-managed portfolios) YTD 1 year 3 years 5 years Sanlam Wealth OM MM Infl. Plus 5- 15.1% AF High Growth 5.8% 29.1% AF High Growth 17.3% Creation Portfolio 7% Sanlam Wealth AF High Growth Sygnia Signature 15.0% Creation 5.6% AF Hi
Slide 66: Performance relative to large umbrella funds lifestage strategies (passive / rules-based)
Performance relative to large umbrella funds lifestage strategies (passive / rules-based) 1 year 3 years 5 years Satrix Enhanced Satrix Enhanced Balance Tracker Fund 15.5% Symmetry 4-6 Tracker 30.4% Balance Tracker Fund 18.5% Liberty Aggressive Satrix High Equity Balanced Tracker Fund 15.4% Satrix E
Slide 67: Monthly Bonus Fund: Competitor comparison
50.0 70.0 90.0 110.0 130.0 150.0 170.0 190.0 210.0 Jan-17 Apr-17 Jul-17 Updated to 28 February 2026 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Sanlam Monthly Bonus Fund Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Old Mutual Absolute Secure Growth 2007 se
Slide 68: Gross cumulative returns for the last decade
50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 Dec-13 Mar-14 Jun-14 Updated to 28 February 2026 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Sanlam Monthly Bonus Fund Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 AF GLMW Median Ju
Slide 69: Cumulative gross bonuses
Gross cumulative bonuses Preservation Phase: Sanlam Stable Bonus Portfolio Cumulative gross bonuses (net of capital charge) relative to peers updated to 28 February 2026 240 220 Cumulative gross bonuses 200 180 160 140 120 100 80 Jul-17 Jul-18 Jul-19 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 Jul-25 Apr-17
Slide 70: Gross cumulative returns for the last decade
50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 Dec-13 Mar-14 Jun-14 Updated to 28 February 2026 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Sanlam Stable Bonus Portfolio Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 AF GLMW Median Mar-2
Slide 71: Thank you
Thank you @ Sanlam 71