2020 INTEGRATED REPORT

Professional Provident Society Healthcare Administrators (Pty) Limited (‘PPS Healthcare Administrators’) is a wholly-owned subsidiary of PPS Insurance, which administers Profmed and other medical schemes. PPS Healthcare Administrators’ objective is to provide professional service and to support the sustainability of the schemes by applying scheme, benefit and tariff rules properly and managing clinical risk, to enable medical schemes to provide for the health care needs of members when they need it most. The administered medical schemes have their own independent boards of trustees. Professional Provident Society Short-Term Insurance Company Limited (‘PPS Short-Term Insurance’) is a wholly- owned subsidiary of PPS Insurance and is a fully-fledged short-term insurer, offering personal lines, commercial lines and, through its Health Professions Indemnity Division, professional indemnity products, to PPS members. PPS Mutual Limited and its operating subsidiary are affiliates of PPS Insurance launched in Sydney, Australia in February 2016. The company’s operating model replicates the PPS Group in South Africa’s mutual model, focusing on the insurance needs of graduate professionals in Australia. The PPS Property Fund Trust (‘PPS Property Trust’) is a trust controlled by PPS Insurance, registered in terms of the Trust Property Control Act of 1988, which invests in certain investment property for the benefit of PPS Insurance. Financial Solutions 4 Professionals (Pty) Limited (‘FS4P’) is a wholly-owned subsidiary of PPS Insurance, established as a brokerage, to provide a vehicle for supporting agents that are not able to sell PPS products due to Retail Distribution Review regulation, which came into effect on 1 January 2018, and enables the continuity of members’ insurances. The Professional Provident Society Foundation Trust is a trust founded by PPS Insurance and registered by the Master of the High Court in 2016 in terms of the Trust Property Control Act of 1988. It has the principal objectives of working with strategic partners to improve access to Science, Technology, Engineering and Mathematics (STEM) related professions and build the professional pipeline, especially the scarce skills disciplines, making a measurable contribution to sustainable development within South Africa’s communities (as defined in the DTI B-BBEE Codes of Good Practice) and the Financial Sector Charter and ensuring that the Foundation’s funds are spent on real sustainable, measurable benefits in support of the professional pipeline being created. GOING CONCERN The Trustees / Directors assess the Group’s future performance and financial position on an ongoing basis and have no reason to believe that the Group will not be a going concern in the reporting period ahead. For this reason, these financial statements are prepared on a going concern basis. FINANCIAL RESULTS The fnancial results on pages 105 to 209 set out the results of the Trust and the PPS Group (comprising PPS Holdings Trust and all its subsidiaries) for the financial year ended 31 December 2020. PPS INTEGRATED REPORT 2020 | 117