Sanlam Investment Management Inflation FUND …

1 NATASHA NARSINGHHEAD: ABSOLUTE RETURN FUNDS SIME xperience: 14 years (Chem), MBAFUND MANAGERTHE TEAM The Absolute Return team is supported by comprehensive research base and systems with dedicated teams specialising in equity, fixed income and asset allocation - collectively making Investment decisions to implement positions within the Absolute Return Principlesfor managing real returnsLong-term strategy:Cognisant of long-term strategic asset allocationDynamic:Dynamic asset allocation, moving between asset classes and instrumentsDownside protection:Protection via tactical asset allocation and derivative strategiesDiversified portfolio:Operates across all asset classes Derivatives:Use of derivatives is an important componentThe Sanlam Investment Management Inflation Plus Fund aims to:Keeping volatility to a minimum & focusing on the risk/return budget of every single asset position held in the capital over any rolling 1-year return, of CPI + 4% over a rolling 3-year cycle.

2 OUR AIMC onsistent mid-to long-term performance Low level of drawdown Minimum volatilityIn volatile times, the SIM Inflation Plus Fund offers investors stability without compromising on long-term Return ProfileSanlam Investment ManagementInflation Plus FundStrategy 1. Leverages the SIM house view & researchThe Investment team leverages off the house s equity, fixed income and asset allocation research and views, to implement positions within the Absolute Return framework. 2. Adds additional value through tactical asset allocationThe team aims to add additional value by applying tactical asset allocation (TAA) based on relative long-term valuations of asset classes (both domestic and foreign).

3 Why should you invest in a SIM Absolute Return Fund such as SIM Inflation Plus?1 SIM Absolute Return Funds meet client needs in current market conditionsIn volatile markets, investors are seeking funds that minimise drawdowns and protect against capital losses volatility requires effective tactical asset capital protection through (i) derivative strategies & (ii) diversificationAt SIM, our Absolute Return Funds offer explicit capital protection through application of derivative strategies, enhancing the implicit capital protection of diversification across asset risk/return through diversification Managers of Absolute Return Funds manage risk return profiles through appropriate diversification across asset CONSISTENCY IN A WORLD OF UNCERTAINTYKEY BENEFITSDELIVERY OF HIGH RISK-ADJUSTED RETURNS LOW DRAWDOWNSLOW VOLATILITY CONSISTENCY OF RETURNSDISCIPLINED FOCUS ON DOWNSIDE RISK LIPPER 2013 AwardSIM Global Financial Fund2015 Loerie Award Top Brand 2015 Imbasa Yegolide Award Equities Manager of the year 20162012 Morning Star Award SIM Global Financial

4 FundInvestment Week Fund Manager of the year 2010 | 2011| 2012 | 2013 PRIVATE BANKS & WEALTH MANAGERSRAGING BULL AWARDSBest African FinTech Company 2016 SatrixNOW & EasyEquities2016 ABSIP Financial Services Sector Awards Multi Asset Fund Manager of the Year | Natasha NarsinghDisclosure: Sanlam Collective Investments (RF) (Pty) Ltd is a registered and approved Manager in terms of the Collective Investment Schemes Control Act. A schedule of fees can be obtained from the Manager. This is a multi-asset, low-equity fund. The Retail class is the most expensive class offered by the Manager.

5 Maximum Fund charges include VAT. Initial advice fee, Initial manager fee, N/A. Annual advice fee, Annual manager fee, Total expense ratio (TER), For more information visit, The fund is exposed to equities, which means prices will go up and down. SIM stands for Sanlam Investment Management . Full details on the basis of the award is available from the Manager. Please refer to the fund s Minimum Disclosure Document (MDD) to view more information. Bold vs CautiousThere is a time to be bold and a time to be cautious. Knowing when to be which is what makes us : Sanlam Investments July 2017 Fund CategorySA Multi Asset Low Equity Fund Investable AssetsLocal and Offshore Cash, Bonds, Property, Equity, DerivativesInception Date 01 Apr 1999 Max Equity40% (Regulation 28 Compliant)Risk ProfileCautiousBenchmarkCPI + 4% (rolling 3 years)Fund BNPhilosophy and Process: Pragmatic Value, Emphasis placed on Absolute ReturnSIM Inflation Plus Fund details:Current fund allocation:Source.

6 Sanlam Investments July 2017 Cash and Money Market Assets 51%International Assets 24%Preference Shares 2%Bonds 3 - 7 3%Equities 15% Inflation -linked bonds 2%Bonds 0 - 3 years 2% Bonds 7 - 12 years 1%Bonds 12+ years 1%Property 1%YearAward 2017 Raging Bull: SIM Enhanced Yield FundRaging Bull: SIM Small Cap Fund Raging Bull: SIIP India Opportunities Fund2016 Raging Bull:SIM Small Cap Fund Raging Bull:SIM Industrial Fund Raging Bull: Sanlam Global Balanced Fund of Funds Raging Bull: Sanlam Global Cautious Fund of Funds Raging Bull: Sanlam Global Bond Fund ABSIP Financial Sercvices Sector Awards: Multi Asset Fund Manager of the Year: Natasha NarsinghBest African FinTech Company 2016 SatrixNow & EasyEquities: 2016 African Fintech AwardsImbasa Yegolide Award: Equties Manager of the Year2015 Raging Bull: SIM Enhanced Yield FundLoerie Award: Top Brand 2015 Intellidex Top Private Banks and Wealth Manager Survey (2nd year running): Top Wealth Manager in SAYearAward 2014 Raging Bull: SIM Industrial Fund HedgeNews Africa Awards 2014: Blue Ink Fixed Income Arbitrage Fund2013 Lipper Award (UK) 2013.

7 Sanlam Global Financial Fund USDI nvestment Week Fund Manager of the Year award (Category: Financials) : Kokkie Kooyman2012 Investment Week Fund Manager of the Year award (Category: Financials): Kokkie KooymanRaging Bull: SIM Global Best Ideas Feeder Fund Morning Star Award: SIM Global Financial Fund 2011 Investment Week Fund Manager of the Year award (Category: Financials): Kokkie Kooyman2010 Investment Week Fund Manager of the Year award (Category: Financials): Kokkie KooymanBUILT ON A LEGACY OF TRUST, AT Sanlam INVESTMENTS WE RE DRIVEN TO DELIVER RESULTS. Awards