Liberty group of companies (excluding Mutual Fund Subsidiaries and Associates and Unincorporated Property Partnerships) as at 31 December 2016 Key Liberty Insurance company Holdings 100% holding where no percentage shown Ltd 74,9% 60% 75% 51% Lexshell Liberty Liberty STANLIB Liberty Total Liberty Liberty STANLIB STANLIB STANLIB Liberty Life Liberty Life STANLIB 615 Mentenova Life Holdings REIT Fund Holdings Health Holdco Nominees Lesotho Kenya Uganda Assurance Lesotho Ltd Ghana Ltd Investments (Pty) Ltd Swaziland Zambia Managers (RF) Swaziland Trust Ltd Nigeria Ltd (Pty) Ltd (Pty) Ltd Ltd Ltd Uganda Ltd (Pty) Ltd Ltd Ltd (Pty) Ltd (Pty) Ltd 51% 39% (2015: Nil) 16% 100% (2015: 74%) Charter Own STANLIB Liberty Liberty East Africa Liberty Liberty Life STANLIB Insurance Your Life Property Properties Holdings Underwriters Viewpoint Insurance Swaziland Company Ltd Rewards Development (Zambia) Botswana Ltd (Pty) Ltd (Zambia) Ltd (Pty) Ltd (Malawi) (Pty) Ltd (Pty) Ltd* Ltd (Pty) Ltd # previously Liberty Group Property Development STANLIB Liberty (Pty) Ltd Investment Liberty Life Health Management Prefsure Botswana Holdings Services Botswana Ltd (Pty) Ltd (Pty) Ltd (Pty) Ltd (Botswana) VMedical VMed Solutions Administrators (Pty) Ltd (Pty) Ltd 75% 75% 57,74% Liberty Blue Unique Liberty Neil Harvey Liberty Stonehouse Dotcoza Consultancy Payment Holdings & Associates Holdings Capital (Pty) Ltd Limitada Services Namibia (Pty) Ltd Kenya Ltd (Pty) Ltd (Mozambique) (Pty) Ltd (Pty) Ltd STANLIB The Namibia Liberty Liberty STANLIB Heritage Eq-Fin Unit Trust Life Life + Namibia Insurance + (Pty) Ltd STANLIB Management Namibia Assurance previously Stonehouse (Pty) Ltd Company Ltd Company Ltd Kenya Ltd Capital Servco (Pty) Ltd (Kenya) Ltd Ltd 60% STANLIB STANLIB STANLIB United The Lodestone Asset Wealth Collective Funeral Heritage Holdings Azali Management Management Investments Insurance Insurance (Pty) Ltd Ltd Ltd Ltd Ltd Ltd Company (Tanzania) Ltd STANLIB Liberty Wealth STANLIB Liberty Group Management Multi- Group Properties Nominees Manager Ltd Ltd (Pty) Ltd (Pty) Ltd Liberty STANLIB STANLIB STANLIB Fund Liberty Linked Liberty Properties General Staff Liberty Capital LPH Liberty Frank Financial Infrastructure Infrastructure Managers Investment Frank Private Fund (Swaziland) Scheme Share Active Alliance Properties Propco Services GP 1 GP 2 Jersey Platform Life Ltd Administrators (Pty) Ltd Trust Ltd Life Ltd Ltd (Pty) Ltd (Pty) Ltd (Pty) Ltd (Pty) Ltd Ltd (Pty) Ltd Ltd Liberty Linked Investment Liberty Platform Growth Nominee (RF) Ltd (Pty) Ltd.