2020 INTEGRATED REPORT

PPS GROUP CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2020 2020 R’m 2019 R’m 2018 R’m 2017 R’m 2016 R’m DESCRIPTION OF INDIVIDUAL ITEMS ASSETS Property and equipment 681 736 594 593 546 Fixed assets owned and leased. These include PPS’s head office premises, furniture, equipment, computers and vehicles. Investment property 460 501 409 382 356 Properties which are held for the purpose of rental income and capital appreciation. Intangible assets 235 175 168 90 73 Internally-developed insurance software and acquired customer relationships. Other non-current assets 53 688 47 914 43 215 41 395 37 150 Assets backing insurance liabilities. These mainly comprise investments in equities and bonds, managed by investment managers who act in accordance with investment mandates set by the Board of directors of PPS Insurance. Current assets 4 035 3 673 3 203 3 532 2 383 Primarily cash resources of PPS Group. Total assets 59 099 52 999 47 589 45 992 40 508 EQUITY AND LIABILITIES Total equity 339 339 360 449 400 Statutory capital requirement of the insurance entities, revaluation reserve of owner- occupied properties and certain reserves of subsidiaries. Insurance policy liabilities, and Profit-Share Accounts 35 481 33 419 31 136 31 418 28 217 PPS Profit-Share Accounts (DPF-Policyholder Liabilities) 29 467 28 975 26 073 26 615 23 949 Members' Profit-Share Accounts comprising cumulative operating profits and investment profits/ (losses). Actuarial reserves (Non-DPF Policyholder Liabilities) 5 185 3 945 4 537 4 268 3 907 Capital held to pay future claims. Current liabilities 829 499 526 535 361 Long-term insurance: Notified claims not yet paid and claims provisions. Investment contract liabilities 3 194 2 589 2 046 1 877 1 466 Funds of members invested in PPS living annuities and endowment products. Liabilities to unit trust holders 17 878 14 908 12 670 10 709 9 089 Value of outsiders' investments in unit trusts controlled by PPS. Other liabilities 2 207 1 744 1 376 1 538 1 338 Primarily current liabilities. Total equity and liabilities 59 099 52 999 47 589 45 992 40 508 PPS Members’ Profit-Share Accounts comprising Apportionment and Special Benefit Accounts 72 | PPS INTEGRATED REPORT 2020