Trading statement for the year ended 31 December 2021 Sanlam Limited (Incorporated in the Republic of South Africa) Registration number 1959/001562/06 JSE & A2X share code: SLM NSX share code: SLA ISIN: ZAE000070660 ("Sanlam" or "the Group") Trading statement for the year ended 31 December 2021 Shareholders are advised that Sanlam is compiling its financial results for the year ended 31 December 2021. This trading statement is in accordance with paragraph 3.4(b) of the JSE Limited Listings Requirements. Sanlam's 2021 annual financial results will be released on the Stock Exchange News Service (SENS) of the JSE Limited on Thursday, 10 March 2022. Shareholders are referred to the Group's operational update for the 10-month period ended 31 October 2021 released on SENS on Wednesday, 8 December 2021. The Group's operations remained resilient and sustained strong operational performance for the 2021 financial year despite the persisting impact of the COVID-19 pandemic. The Group expects the following earnings performance ranges for the year ended 31 December 2021: 12 months to 31 December 2021 2021 2020 Expected increase on Expected range Actual comparative period (%) (cents per share) (cents per share) 8 to 18 406 to 444 376.4 Net result from financial services Net operational earnings 18 to 28 442 to 480 374.9 HEPS 22 to 32 420 to 455 344.5 Diluted HEPS 22 to 32 415 to 449 340.3 EPS >100 458 to 461 34.8 Diluted EPS >100 452 to 456 34.4 The improvement in earnings are mainly the result of: • Higher equity market levels that supported fund-based fee income, positive marked-to-market changes from credit spread movements and lower levels of provisions for doubtful debts. • Higher earnings from Santam, negatively impacted by the provision for COVID-19 related contingent business interruption claims in 2020. • The comparative period included IFRS 9 expected credit loss provisions in respect of government bond and banking exposure on the Lebanon balance sheet, which did not repeat in 2021. The 2021 increase in EPS and diluted EPS relative to HEPS and diluted HEPS is mainly due to the impairment charges of some R8,6 billion in the comparative period which did not repeat in 2021. 31 December 2020 earnings per share restatement As reported in the interim results announcement released on SENS on Thursday, 9 September 2021, shareholders are advised that the previously reported attributable earnings per share and headline earnings per share information has been restated for the correction of Hyperinflation accounting applied in the 31 December 2020 results. The restatement does not have an impact on the net asset value due to the offsetting impacts on foreign currency translation reserve in the statement of changes in equity at 31 December 2020. 31 December 2020 Previously reported Restatement Revised Attributable earnings (R' million) 2 863 (2 145) 718 EPS (cents) 138.8 (104.0) 34.8 Diluted EPS (cents) 137.1 (102.7) 34.4 Headline earnings (R' million) 9 249 (2 145) 7 104 HEPS (cents) 448.5 (104.0) 344.5 Diluted HEPS (cents) 443.0 (102.7) 340.3 Total equity (R' million) 77 224 - 77 224 The financial information in this trading statement is the responsibility of the Sanlam Board of Directors and has not been reviewed or reported on by the Group's external auditors. For all investor relations queries please contact: Sanlam Investor Relations Tel: +27 21 947 8455 E-mail: [email protected] Cape Town, 3 March 2022 Sponsor: The Standard Bank of South Africa Limited Date: 03-03-2022 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
Sanlam Ltd. published this content on March 03, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on March 03, 2022 12:10:04 UTC.