2020 INTEGRATED REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2020 36. MANAGEMENT OF RISKS (continued) 36.3 Financial risk management (continued) The following are the contractual maturities of financial liabilities and insurance contract liabilities, including interest payments and excluding the impact of netting agreements: For long-term obligations with non-DPF components, the amounts in the table represent the estimated cash flows, consistent with the valuation methodology followed by the calculation of the non-DPF component of the insurance liabilities on the published reporting basis. All the cash flows are shown net of reinsurance. Nominal cash flows are shown and the effect of discounting is taken into account to reconcile to total policy liabilities under insurance contracts. Since the DPF component is a retrospective accumulation of past profit declarations, the current value is taken as the value of the underlying assets (shown in the tables below). Group Contractual cash flows 2020 Carrying Total cash Within 1 2 – 5 6 – 10 11 – 20 Over 20 R'm amount flows year years years years years Insurance contract liabilities – DPF 29 467 29 467 1 805 4 448 6 386 11 212 5 616 Insurance contract liabilities – non-DPF 5 172 (98 722) 958 3 092 2 168 (239) (104 701) Short-term Insurance liabilities 64 64 40 24 – – – Reinsurance payables 58 58 58 – – – – Third-party financial liabilities arising on consolidation of unit trusts 18 044 18 044 18 044 – – – – Investment contract liabilities 3 194 3 194 3 194 – – – – Borrowings 152 152 27 122 3 – – Other financial liabilities 1 086 1 086 1 086 – – – Lease liabilities 65 65 21 44 – – – 194 | PPS INTEGRATED REPORT 2020