PPS 2023 INTEGRATED REPORT

37. 37.3 AAA Below AAA Below A and but no lower but no lower BBB- and Government than A than BBB- Below Unrated Total 11 806 1 949 1 059 5 636 4 585 25 035 1 1 265 414 781 1 850 4 311 – – – – 1 842 1 842 – 1 559 – 6 – 1 565 AAA Below AAA Below A and but no lower but no lower BBB- and Government than A than BBB- Below Unrated Total 11 627 7 428 42 291 3 048 22 436 – 3 252 419 476 155 4 302 – – – – 1 070 1 070 – 1 375 – 7 – 1 382 R'm Cash and cash equivalents (including assets held in unit trust funds) Receivables Reinsurance contract assets Management of risks (continued) Concentrations of credit risk The maximum exposure to credit risk for its financial assets, including unit trusts, at the reporting date by credit rating category was as follows: Group 2023 Financial risk management (continued) Debt securities (including assets held in unit trust funds) R'm Debt securities (including assets held in unit trust funds) Cash and cash equivalents (including assets held in unit trust funds) Receivables Reinsurance contract assets Group Restated 2022 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 215 Notes to the Consolidated Financial Statements

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