Foundation Annual Report 2025 Laying foundations for confident growth Sanlam Foundation Annual Report 2025 A
2 About this report 2 Our contribution to the UN SDGs 3 Sanlam Foundation social impact 2025 4 Message from the Group Executive: Corporate Affairs and Sustainability 5 Message from the Head of the Sanlam Foundation 6 Strategic aspirations 7 Our theory of change 8 Programmatic performance 9 Socio-economic development 15 Financial inclusion 18 Enterprise and supplier development 20 Staff volunteerism 22 Auxiliary projects 24 Monitoring and evaluation 25 Income and expense report 26 Group-wide social impact intent 27 Our partners Contents Sanlam Foundation Annual Report 2025 1 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners Interactive PDF navigation Our digital navigation features help the reader to move easily between different sections or topics in this and other reports. Previous section Previous page Next page Home Next section
This report focuses on specific programmes implemented by the Foundation. It presents their intent, implementation, outcomes and lessons learned, demonstrating how targeted interventions drive measurable social impact. Developing a group-wide impact view Sanlam is developing a consolidated group view of social investment and development performance from across the group’s footprint. This integrated view will provide a baseline for tracking progress, assessing our performance and strengthening accountability over time. For stakeholders, it will further support consistency, comparability and transparency in future reporting. See page 26 for more on this work. About the Sanlam Foundation The Sanlam Foundation leads corporate social investment initiatives across the Sanlam group and serves as its primary vehicle for social investment. The Foundation designs and funds programmes that empower communities to become sustainable, while coordinating efforts to advance the group’s commitment to social responsibility and community development. In doing so, the Foundation plays a central role in translating Sanlam’s ESG commitments into meaningful, on-the-ground impact – helping future generations live with confidence. Sanlam’s commitment to financial resilience, inclusion and wealth creation in underserved communities remains central to the Foundation’s work. Through its programmes, the Foundation continues to support the eradication of poverty across Africa and contribute to the achievement of the United Nations Sustainable Development Goals (UN SDGs) by enabling: • Access to quality education. • Increased financial literacy. • Access to equitable and sustainable economic opportunities. • Revenue growth for SMMEs supported by the Foundation. • Job creation through SMMEs supported by the Foundation. • Direct community support through staff volunteerism initiatives, including United for Impact and payroll giving. The Sanlam Foundation annual report (this report) for the year ended 31 December 2025 outlines how the group defines, measures and communicates social development impact in South Africa and across the continent. Demonstrating Sanlam’s commitment to CSI We demonstrate the group’s commitment to CSI by actively engaging with communities where Sanlam operates. Co-ordinating and supporting CSI initiatives We co-ordinate, support and oversee all CSI initiatives in the group, ensuring alignment with Sanlam’s strategic objectives, goals and values. Ensuring governance compliance We ensure governance compliance by maintaining clear structures in line with our trust deed and best practices for non‑profit organisations, including aligning with King IV™ principles. Communicating impact We collect and process monitoring, evaluation and learning data from our programmes to ensure accountability, transparency and alignment with our goals. Externally audited for accuracy and credibility, this data communicates outcomes, assesses impact and supports continuous improvement. Insights are shared with stakeholders and the public, fostering trust and informed decision-making. The Sanlam Foundation is responsible for: About this report Our contribution to the UN SDGs Aligned with Sanlam’s purpose of empowering generations to be financially confident and prosperous, the work of the Sanlam Foundation contributes directly to addressing the following four SDGs, where we can make the most significant impact. Since 2011, the Sanlam Foundation has invested R990 million in priority development areas, including education, financial literacy, health, water security, enterprise development and staff volunteerism. In 2025, a total of 643 608 beneficiaries received support from the Foundation (2024: 482 773 beneficiaries). Sanlam Foundation Annual Report 2025 2 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Total number of individuals reached Focus areas with the highest contribution 643 608 beneficiaries for initiatives, including community resilience, health, socio-economic development and staff volunteering (2024: 482 773) 500 804 learners including education and financial education (2024: 413 256) 66 615 beneficiaries reached through CFE programmes see page 22 (2024: 66 394) R39 758 491 Education (2024: R27 653 218) R19 738 719 School nutrition (2024: R10 754 884) 529 beneficiaries impacted through ESD programmes, excluding stokvel members (2024: 441, including stokvel members) R44 487 591 Consumer Financial Education (CFE) for people classified as Living Standards Measure (LSM) 1-5, with a focus on rural communities (2024: R38 019 622) R17 218 577 Enterprise and Supplier Development (ESD) invested in entrepreneurs, innovation and growth of SMMEs (2024: R18 022 193) 3 139 668 meals provided to learners (2024: 3 176 736) 1 274 jobs created through the Foundation’s activities (2024: 219) Sanlam Foundation social impact 2025 R59 497 210 Total contribution Sanlam Foundation Annual Report 2025 3 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Sanlam’s long-term success is inseparable from the resilience of the societies in which we operate. In markets where social and economic vulnerability remains pronounced, our approach to sustainability is anchored in the belief that inclusive growth, social development and responsible governance are essential to creating enduring value. The group is taking deliberate steps to strengthen how social development is governed, co-ordinated and measured. Under the oversight of the Social Impact and Advisory Council (SIAC), this work is focusing on improving coherence and accountability across social development initiatives delivered by Sanlam businesses, markets and partners. In our future reporting, we will present a consolidated group-wide view of social development that provides strategic context and establishes a reference point for future comparisons. This view will enhance leadership’s ability to understand the scale and alignment of Sanlam’s social development footprint within the group’s broader ESG framework. This year’s report reflects a conscious response to feedback from previous reporting cycles. Stakeholders have consistently indicated that impact is best understood through depth, evidence and learning at programme level. Accordingly, while the group-wide view provides context, the report deliberately emphasises detailed programme-level reporting, recognising that this is where outcomes, effectiveness and accountability are most clearly demonstrated. In this regard, the Sanlam Foundation plays a central role – not only as the group’s primary social investment vehicle, but also as a steward of impact practice, measurement discipline and continuous improvement. The sections that follow provide insight into how the Foundation translates strategy into action through targeted interventions that support resilience, inclusion and opportunity. This approach strengthens the integrity of our ESG reporting and reinforces our commitment to transparency, credible measurement and long-term value creation. The message that follows from the Head of the Sanlam Foundation provides a deeper account of the pathways, programmes and learning that form the core of this report. I want to acknowledge the Sanlam Foundation team for the quality and depth of work reflected in this report. In particular, I thank Ray-ann Sedres for her leadership in strengthening social impact governance, measurement and reporting across the group. Shadi Chauke Group Executive: Corporate Affairs and Sustainability Message from the Group Executive: Corporate Affairs and Sustainability Sanlam Foundation Annual Report 2025 4 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
At the Sanlam Foundation, our work is guided by a simple but enduring ambition: to enable individuals and communities to live with confidence. Confidence is not a single outcome – it is built progressively, as people move through interconnected social and economic pathways that strengthen capability, participation and resilience. Our programmes are therefore designed not as isolated interventions, but as part of a coherent approach that supports individuals and communities at critical points in their development journey. This report focuses on how those pathways translate into practice. In response to feedback calling for greater depth and clarity, the Foundation has emphasised programme-level insight, recognising that meaningful impact is best understood through evidence, context and learning over time. Our work begins with foundational learning and supportive environments, where early childhood development and education initiatives strengthen literacy, numeracy and psychosocial wellbeing. These foundations are essential for learners to progress with confidence and to remain engaged through their schooling years. From there, we focus on pathways into the economy, supporting young people to transition from education into work through employability programmes that build digital skills, work readiness and access to real opportunities. Economic participation anchors dignity and expands choice for individuals and households. We further strengthen inclusion through enterprise development pathways, supporting entrepreneurs and small businesses with business development services, market access and appropriate financial mechanisms. Thriving SMMEs play a critical role in job creation, household stability and local economic resilience. Complementing these pathways are our financial wellbeing initiatives, which leverage Sanlam’s expertise to build practical financial capability. When individuals and families are able to plan, protect and invest, they are better positioned to withstand shocks and make long-term decisions with confidence. Across all these areas, we recognise that confidence cannot flourish without safe, healthy and cohesive communities. Our programmes therefore also invest in social cohesion, health promotion and environments that help people feel supported and connected. As the steward of group-wide social development under the oversight of the Social Impact and Advisory Council (SIAC), the Foundation continues to strengthen data quality, measurement discipline and learning across markets. This enables us to refine our approaches, respond to evidence and ensure that social investment remains aligned with both community needs and Sanlam’s sustainability commitments. The work reflected in this report is the result of strong partnerships – with implementing organisations, educators, entrepreneurs, community leaders and colleagues across the Sanlam group. Through these partnerships, we are able to address root causes, take a long-term view and contribute to resilient, inclusive outcomes. Looking ahead, our focus remains on deepening programme insight, strengthening pathways and ensuring that our work enables people and communities across Africa to live with confidence. Appreciation This work is only possible through partnership. I thank our board of trustees for their principled oversight, the Sanlam Foundation team for their commitment, professionalism and care in stewarding our work, our implementing partners and community leaders for their dedication on the ground, and colleagues across the Sanlam group for their ongoing support. Together, we give practical expression to our purpose and enable lasting impact. Ray-ann Sedres Head: Sanlam Foundation Message from the Head of the Sanlam Foundation Sanlam Foundation Annual Report 2025 5 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Strategic aspirations The Sanlam Foundation is the heart of Sanlam’s commitment to society. We actively listen, learn and invest in our communities, which helps ensure Sanlam remains trusted, valued, and genuinely present in people’s everyday lives. By contributing to stronger, more resilient individuals and communities, we bring Sanlam’s promise to life – creating the conditions for more people to live with confidence Formalised in 2020 and aligned to Sanlam’s 2025 strategic vision, the Foundation’s five strategic focus areas have continued to guide how we deepen our impact and support the group’s broader developmental objectives. During 2025, we began shaping the next evolution of our strategic direction for the period 2026 to 2030. This work centres on ensuring that our programmes, partnerships and governance frameworks remain relevant, coherent and positioned to deliver meaningful impact in challenging socio-economic environments. To support the achievement of these strategic aspirations, our theory of change outlines the interventions that will achieve our desired outcomes, to ultimately drive meaningful impact… Socio-economic development (SED) To address SED challenges including child and youth development, improving the quality of education, environmental protection and funding local community development projects. Enterprise and supplier development (ESD) To support and empower the growth of black and women-owned SMMEs that have the potential to become part of Sanlam’s supply chain network. As part of this process, we have focused on strengthening the key enablers that will support our long-term intent. These include refining programme metrics, enhancing monitoring and evaluation practices, and building a consolidated Social Impact dashboard to improve insight and learning across our portfolio. This work is also helping to minimise programme fragmentation and enhance the synergies between initiatives, ensuring that our efforts are mutually reinforcing and contribute to a shared vision for the Foundation’s future, which supports enhanced monitoring and evaluation. The development of the 2026-2030 strategic framework is ongoing and is expected to be finalised in the first quarter of 2026, following further engagement with the board of trustees. Once approved, it will guide how we align our programmes, strengthen governance and build the partnerships needed to scale impact over the next five year. This will ensure that the Foundation remains responsive, purposeful and able to help more people and communities live with confidence. SanlamAllianz To support programmes across the African countries in which SanlamAllianz operates, as part of the Foundation’s mandate as a custodian of CSI activities across the Sanlam group. Staff volunteerism To tangibly demonstrate the brand’s purpose of helping others live with confidence through volunteering the time and skills of Sanlam’s staff, to meaningfully support the communities in which it operates. Consumer financial education (CFE) To improve individual financial behaviour, prevent over-indebtedness, increase financial resilience and build prosperity. Sanlam Foundation Annual Report 2025 6 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Our theory of change Our theory of change specifies the interventions required to effectively address the most prevalent socio-economic challenges in our communities: vast inequality, high unemployment, poverty and negative impacts due to environmental change. Strategic focus areas Enterprise and supplier development Staff volunteerism Financial education Auxiliary projects Education Impact Alleviate inequality, stimulate job creation, drive financial inclusion and social development, and protect the environment. Financially literate and independent individuals, especially lower income earners, supporting savings and financial inclusion. Access to equitable quality services, sustainable economic opportunities and growth, including creating employment opportunities within SMME communities. Achieving developmental objectives within our communities, further entrenching Sanlam’s reputation as a responsible corporate citizen; sustainable environmental resources; and more resilient communities. Supporting communities and an enhanced employee value proposition by providing opportunities for staff to contribute meaningfully to national developmental agendas. Outcomes Access to quality education and lifelong learning; adequate nutrition for development. co-ordinated Auxiliary projects peripheral yet complementary to our strategic focus areas including environmental protection and funding community development. Providing Sanlam’s people with opportunities to contribute positively to their communities through payroll giving as well as skills-based and community-based volunteering. Financial literacy programmes for adults, youth and trade unions, delivered face-to-face and digitally in communities and worksites. Supporting the development of black and women-owned SMMEs focusing on providing mentorship, training and support to entrepreneurs and their businesses. Interventions Interventions at Early Childhood Development (ECD), Foundation Phase and high school levels; school nutrition programmes and youth development. Sanlam Foundation Annual Report 2025 7 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Programmatic performance In this section… 9 Socio-economic development 9 Education 11 Learning progression and academic pathways 15 Financial inclusion 15 Workplace and community-based CFE 17 Youth-focused CFE 18 Enterprise and supplier development 18 Sanlam supply chain-aligned ESD programme 19 Women-owned SMME ESD programme 19 Stokvel-focused ESD programme 20 Staff volunteerism 20 Staff volunteerism programme 21 SanlamAllianz Staff Volunteerism 22 Auxiliary projects 22 Community resilience programmes 23 Social response and relief grants Sanlam Foundation Annual Report 2025 8 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Early development and foundational learning pathways The Foundation’s ECD support focuses on ECD centres and Quintile 1 to 3 primary schools, reaching children from ages three to five, Grade R and the Foundation Phase (Grades 1 to 3). Our approach prioritises strong home language development as the gateway to future learning, particularly in science, technology, engineering and mathematics (STEM). The inclusion of other foundational skills including early numeracy, home language literacy and an introduction to coding and robotics complement our approach, while teacher development and daily nutrition help ensure that children are ready to learn and able to engage fully in the classroom. Other ECD interventions across the programmes we support include occupational therapy, coaching and parent engagement for learners who may be at risk developmentally. Interventions also respond to on‑the‑ground challenges such as teacher morale. Educators, trainers and support practitioners receive specialised training in foundational skills, while centres and classrooms are equipped with play‑based and learning resources to create stimulating, supportive environments. Education Education is the foundation on which young people build their future confidence, and access opportunities, yet many learners continue to face barriers that extend beyond the classroom, including uneven early childhood preparation, limited subject support in high school and access to tertiary studies. • Strengthening early childhood readiness • Improving core academic performance • Opening doors to post‑school opportunities, and • Nurturing creativity, resilience and self-belief through experiential learning. The Sanlam Foundation’s education portfolio responds to these challenges through a holistic, cradle‑to‑career approach that supports learners at every stage of their development. Our programmes extend across the full learning ecosystem: L ore This portfolio includes ECD and Foundation Phase initiatives that build essential learning foundations, and structured academic support programmes such as the annual Sanlam Words open Worlds (WOW) Spelling Festival, the Matric Live digital tool, and Stellenbosch University’s SciMathUS university preparation programme. At the same time, programmes such as the Zip Zap Circus youth programme offer creative and experiential pathways that develop social‑emotional skills, discipline, focus and confidence. Together, these initiatives form a cohesive pipeline of learning pathways while providing learners with rounded support, unlocking their potential, helping them to remain engaged and motivated, and preparing them for the future. This integrated approach aims to ensure that more young people can thrive academically, socially and emotionally, and ultimately live with confidence as they transition to adulthood and grow their participation in the economy. KwaZulu-Natal Gauteng Eastern Cape Socio-economic development 5 5 10 15 397 310 110 Key Total Sites 20 Learners supported 1 758 Teachers supported 67 Caregivers supported 110 5 314 10 Western Cape 5 737 32 Early childhood development Sanlam Foundation Annual Report 2025 9 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
“The children love the porridge. Now they always have something to eat before lessons. The children come to school early because we serve the porridge at 07h30. There has been a huge improvement in our learners and attendance is also very good.” Sindisiwe Nkosi Teacher / Nutrition co-ordinator Esibanini Primary The children enjoy all the flavours and are healthier now than before. We are forever grateful to Lunchbox Fund for supporting us. Without your porridge I don’t think we would survive. We have bought tables and chairs for the centre with the money we have saved. Thank you.” Ntokozo Zindela Teacher: Sibongumusa Creche “The food is very nice - the children enjoy it so much. Thank you so much with the support, it has helped us a lot in filling that morning gap before lunch. We are grateful. The children have gained weight, and they are very participative in class.” Thulisile Mpisane Principal: Mnafu Primary “Our learners arrive very early, and they have not had breakfast. They love the porridge, and it gives them the added energy to face the day. Academic performance has improved. We have recruited new practitioners.” Nolubabalo Dabane Principal: Orient Kiddies Foundation Phase In 2025, Grade R was officially incorporated into the Foundation Phase. In alignment with the National Department of Basic Education (DBE), the Foundation expanded its programme to include targeted Grade R support, which will be reflected in our future reporting. This support includes strengthening early learning through teacher training in home language instruction and providing classrooms with essential teaching resources across literacy, mathematics, and coding and robotics, helping to build strong, confident learning foundations from the start. In 2025, Sanlam Corporate donated R3,5 million to provide over 100 000 pairs of school shoes to learners in quintile 1 to 4 schools. Implemented with the Sanlam Foundation, the initiative targets disadvantaged communities and is delivered through the MyWalk Made With Soul programme, which upcycles hospital PVC waste into durable shoes. To date, over 30 000 learners across four regions have benefited, with ongoing rollout in DBE priority provinces to support learner dignity and access to education. Sites 7 10 7 10 Learners supported 1 905 5 250 1 435 7 184 Schools served 2 2 5 5 Meals served 385 470 1 016 460 292 510 1 445 228 5 5 5 5 ● Eastern Cape (Ngcobo) ● Gauteng (Gauteng Central) ● KZN (Ugu) ● Western Cape (Swartland) Local food mamas employed ● Eastern Cape (Ngcobo) 2 2 5 5 ● Gauteng (Gauteng Central) ● KZN (Ugu) ● Western Cape (Swartland) 823 2 432 1 075 2 755 23 61 31 67 Learners supported Sites Teachers supported Nutrition Through our partnership with our strategic delivery partner, learners from ECD to Grade 7 receive a daily fortified meal at school. For many children, this breakfast or lunchtime support is essential, helping them stay focused, energised and ready to learn. Schools that participate in the programme show stronger attendance, with children better able to concentrate and having a higher level of overall wellbeing. This creates the right conditions for better learning outcomes and greater confidence in the classroom. Foundation Phase interventions Nutrition interventions Socio-economic development continued Education continued Sanlam Foundation Annual Report 2025 10 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Learning progression and academic pathways As learners move beyond the early grades, many require additional academic support, subject exposure and structured opportunities to strengthen their performance and broaden their future prospects. The Foundation invests in a set of programmes designed to help learners build confidence, improve mastery in key subjects and prepare for further study. Each programme plays a distinctive role along this continuum, helping students learn independently and improve their academic outcomes. Together, these initiatives form a set of academic progression pathways that complement our early childhood focus. Sanlam WOW Spelling Festival WOW is one of the longest‑standing literacy enrichment initiatives supported by the Foundation, playing an important role in strengthening learners’ language capabilities and thus their broader academic success. As literacy challenges continue to hinder learning outcomes nationally, WOW provides a joyful, high‑impact way to build vocabulary, comprehension and confidence among learners. Schools from across South Africa participate in WOW, hosted in all nine provinces and recognised as the largest spelling festival in the country. The programme is intentionally designed to be inclusive and accessible, enabling participation from learners and teachers in under‑resourced schools who often have limited exposure to academic competitions and literacy‑building opportunities. Teacher participation remains central to WOW’s success. Festival organisers and provincial co-ordinators work closely with teachers to facilitate school‑, district‑ and provincial‑level competitions. To ensure strong delivery, WOW provides training workshops, toolkits and ongoing support, equipping teachers and organisers with the skills and materials needed to run the programme effectively and consistently. Of the 539 learners and 215 teachers who participated in the 2025 finals at Stellenbosch University, 65% and 94% were from under-resourced schools respectively (2024: 62% and 90%), exceeding the Foundation’s targets. WOW continues to demonstrate that literacy can be nurtured through community, excitement and shared achievement, making learning both aspirational and accessible. Jobs created Learnership: Cape Peninsula University of Technology (Wellington Campus) 38 Learnership: WOW learners 12 Temporary personnel 15 Teacher organisers 77 Overall participation data for 2025 Provinces Schools Learners Teachers Eastern Cape 373 93 250 1 865 Free State 60 15 000 300 Gauteng 36 9 000 180 KwaZulu-Natal 1 1 0 Limpopo 30 7 500 150 Mpumalanga 42 10 500 210 North West 191 47 750 955 Northern Cape 463 115 750 2 315 Western Cape 681 170 250 3 405 Total 2025 1 877 469 001 9 380 Socio-economic development continued Education continued Sanlam Foundation Annual Report 2025 11 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
“SciMathUS has been a life-changing journey– one that not only sharpened our academic skills but also shaped us as individuals. Through countless hours in class, we confronted our weaknesses, grew in confidence and rediscovered our love for learning. The dedication of our lecturers, who taught with passion and unwavering belief in our potential, made all the difference.” Unathi Raborife “SciMathUS has been more than a second chance – it’s been a transformative journey of growth, resilience and rediscovery. From struggling with a basic skills test to being uplifted by lecturers who believed in us more than we believed in ourselves, we learned that failure doesn’t define us – our response to it does. Through hard work, discipline and authenticity, we found our footing, our people and our purpose. To our mentors, facilitators, and generous sponsors, thank you for building the bridge that carried us forward. SciMathUS didn’t just help us do it over – it helped us do it better.” Kenilwe Maake “SciMathUS has been a journey of grace – an unexpected second chance to learn, grow, and redefine our futures. Beyond academic improvement, we’ve grown as individuals, supported by mentors, facilitators, and staff who turned confusion into clarity and created a nurturing environment where we could thrive. From residence life to the classroom, every moment was shaped by compassion, wisdom, and encouragement. We are deeply grateful to the behind-the-scenes team and sponsors who invested not just in education, but in our dreams and a better tomorrow.” “Investment in STEM education is a catalyst for socio-economic development” SciMathUS university preparation programme The SciMathUS programme forms a key part of the Foundation’s commitment to supporting academic progression for learners who show potential but require targeted support to access tertiary study. Many high‑performing matriculants from under‑resourced schools face structural barriers that limit their eligibility for university programmes, particularly in high‑demand STEM fields. SciMathUS addresses this gap by offering a structured, intensive academic bridging year that strengthens mathematics and science competencies and prepares learners for university‑level expectations. With the Foundation’s support, the programme develops and administers practice examinations aligned to the National Senior Certificate standards, ensuring that students benefit from credible and rigorous exam preparation. The addition of mentoring, study‑skills development and psychosocial support helps participants adjust to university‑style learning. A large number of the 27 participants in 2025 (2024: 25 participants) went on to apply for entry into STEM‑related programmes such as agriscience, natural sciences, engineering and health sciences for the 2026 academic year. These results reflect the programme’s effectiveness in preparing motivated learners for demanding academic pathways, and its contribution to creating a more inclusive pipeline of future professionals in fields critical to South Africa’s development. During the year, the Foundation team visited the SciMathUS programme to observe classroom activities, engage with participants and gain firsthand insight into the programme’s impact. The SciMathUS management team expressed appreciation for the Foundation’s long-standing partnership, and acknowledged the programme’s strong alignment with broader developmental priorities, noting that: 82 learners have received university preparation support since 2023. SciMathUS builds confidence by equipping learners with the academic foundations and resilience needed to access STEM opportunities. Ray‑ann Sedres Head: Sanlam Foundation Socio-economic development continued Education continued Sanlam Foundation Annual Report 2025 12 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
In 2025, the Matric Live app’s assessment platform was recognised as one of South Africa’s top impact‑driven startups by the Llama Impact Accelerator, affirming its role in advancing digital assessment innovation in public education. The Llama Impact Accelerator is a regional initiative by Meta that supports African startups in developing scalable, impactful AI solutions using Meta’s open-source Llama large language models (LLMs). The programme focuses on addressing critical challenges in sectors like healthcare, agriculture, education, safety and public services. “Now I can practise so many different questions without waiting for the teacher to bring us past papers.” Learner, Soweto Digital access and curriculum support In a world where digital tools play a significant role in whether learners progress and thrive, the multi-award-winning Matric Live mobile app provides a crucial point of access for learners in Grades 10 to 12, able to reach where support is needed most. The app aims to address barriers many young people continue to face such as limited access to quality study materials, overcrowded classrooms and uneven availability of specialised subject teachers, by providing direct access to high‑quality, curriculum‑aligned content. The app supports offers support for a wide range of subjects including mathematics, maths literacy, life sciences, physical science, geography, history, tourism, business studies, accounting, economics and English. Its design is intentionally user‑friendly and mobile‑centric, ensuring even low‑bandwidth users can benefit from structured learning pathways. In 2025, the app was enhanced with AI‑driven features to improve accessibility, personalisation, and learner autonomy. These updates helped drive higher engagement, with learners better able to revise independently and receive instant feedback, building their confidence at their own pace. All practice examinations on the platform are independently validated to fully comply with DBE standards, to ensure that learners are using credible, high‑quality content. Engagement on the platform remained very strong in 2025, with maths literacy achieving the highest completion rate at 91,9%, followed closely by life sciences at 88%. This reflects a consistent trend of high demand for accessible support in these subjects. Learners who use the app continue to show measurable academic improvement: in the 2024 matric examinations, learners using Matric Live achieved an average increase of 6,2% in subjects such as Mathematics and Life Sciences. The Matric Live app levels access to quality learning by enabling learners to study independently, strengthen understanding and approach their academic journey with confidence – regardless of circumstance. Socio-economic development continued Education continued Sanlam Foundation Annual Report 2025 13 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Holistic development pathway The Sanlam Foundation partners with Zip Zap Circus due to the powerful role movement, creativity and physical expression play in how young people learn, connect and build confidence. For many vulnerable youth, traditional classroom environments alone do not meet their full range of developmental needs. Physical, hands‑on activities, such as those offered through circus arts, help strengthen concentration, discipline, co-ordination and resilience. These are the same skills that improve engagement in formal schooling and open pathways to personal growth. Zip Zap creates a safe, joyful space where young people learn through their bodies as much as through their minds. By blending circus arts with life‑skills training, the programme becomes a catalyst for deeper learning, supporting improved school participation and helping learners discover new possibilities for their futures. For some, this becomes a bridge back into formal education; for others, it offers an alternative pathway to a sustainable career within the creative and performing arts sector. At its core, Zip Zap nurtures confidence, belonging and aspiration, showing young people that their potential is far greater than their circumstances, and empowering them to dream, achieve and live with confidence. Beneficiaries’ stories For Satara Samsodien, new skills in tumbling and flipping have brought a real boost. “Now I am more confident - there is no hesitation,” she says. Being part of Zappers has also provided opportunities for new friendships: “…lots of them, like the exchange students and others – genuine people, not like forced conversations and stuff like that.” Her proudest moment came when she mastered the cube: “When I did my cube, I was the first one to learn it, and I did my research on it.” She also reflected on what the programme has taught her about patience and growth. “Now I know nothing is forced, you have to ease yourself into it, take your time, because now I know everything takes time.” “Zip Zap helps me to feel more confident and happier,” she adds. Bulumko Nkomombini has been learning new circus skills at Zip Zap, including rope. For Bulumko, new friends have provided guidance. “They help me understand things,” he says More guidance has also boosted his confidence in performing and sharing his own skills with others. “I get excited because I know what I am doing,” he adds, with Bulumko leaving each class feeling positive: “I feel happy and strong.” For Bulumko, the instructors are a highlight. He also notes that the skills and support he’s gained have helped him outside the circus. “I have joined Zappers for two years now, and I have learned straps, which gives me a chance to be able to control my body,” says beneficiary Elijah Gallant. “Most of the people I have known since they were beginners, and we have become good friends. These friendships made me better because we come from different backgrounds, and that gives us a chance to learn more about each other and understand.” Elijah has also felt more confident: “When we started the year with the evaluation and I performed straps, that was amazing. When I won the fellowship award last year, that made me proud.” “I have built relationships now, and that was a struggle for me as I am very reserved, but now I go to my teachers. I was always a busy person, not a talkative one, but now it’s easy for me to open up about things.” The programme’s impact extends beyond providing technical circus skills, as one parent’s feedback demonstrates: “I just want to thank you and the trainers for yesterday. My daughter is having a rough time at school with bullying and yesterday was a very sad day. But she came to Zappers training and within ten minutes she was smiling again. The Zip Zap family is amazing. She was having fun, laughing, learning and being encouraged from when she arrived. I heard so many of your troupe praising each other, clapping, and being kind. Thank you for everything and for my daughter’s circus family. It was the best part of our day”. Socio-economic development continued Education continued Sanlam Foundation Annual Report 2025 14 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Financial inclusion is a critical foundation for a thriving and equitable society. Yet many South Africans continue to face barriers that limit their ability to participate confidently in the financial system, including limited access to trustworthy information, low financial literacy levels, high household debt and rising living costs. These challenges make it harder for individuals and families to plan ahead, protect themselves from financial shocks and make informed decisions that support long‑term wellbeing. As a leading financial services organisation, Sanlam has a responsibility to help bridge this gap. Consumer financial education is one of the most powerful enablers of financial inclusion: it equips people with the knowledge, skills and confidence they need to understand financial products, navigate risks, manage money wisely and make decisions that safeguard their future. For the Sanlam Foundation, this work is an important way of empowering people to strengthen their financial resilience, avoid predatory practices and build the habits that support stability and dignity. It also deepens trust in financial institutions by ensuring that communities feel informed, supported and able to exercise choice. Our financial education programmes aim to meet people where they are – in workplaces, schools, communities and online – providing information that is practical, relevant and accessible. “I now set realistic financial goals, maintain a well-structured budget, and have a clear understanding of what financial freedom truly means – including the importance of emergency savings and long-term stability. I’ve developed the ability to distinguish between needs and wants, improve my credit standing and take proactive control of my finances to make informed and responsible decisions.” Thabiso Hlongwane Worksite Department of Community Safety, Gauteng “This training proved to be extremely beneficial, as budgeting is not a common practice in our household. I have learned practical methods to create and manage a budget, save money effectively, and appreciate the importance of financial planning. This knowledge will help me avoid dependence on loan sharks. I strongly believe that every household should have the opportunity to participate in similar training sessions.” Nombuso Magagula Department of Correctional Services, Mbombela “This course has transformed both my mindset and lifestyle. I now approach life with greater creativity, plan my expenses more intentionally, and recognise the value of saving and borrowing responsibly. It has also deepened my understanding of the economic cycle and banking system, empowering me to make informed financial decisions that will contribute to a more secure and prosperous future for my family and me.” Ndondo Skosana Community member In 2025, the Foundation’s CFE portfolio reached over 66 615 beneficiaries Workplace and community-based CFE The Sanlam Foundation, in partnership with the ASISA Foundation and Avocado Vision, provides adult CFE programmes (WageWise and Money Fo’ Sho!) that deliver vital financial education on budgeting, saving, debt management and retirement planning, both face-to-face and digitally in community and workplace settings. The Sanlam Foundation’s CFE programmes seek to improve individual behaviour, prevent over-indebtedness, ensure financial resilience, build prosperity and ultimately contribute to financial inclusion. Programme delivery continues to be enhanced through improved data, digital reach and collaboration. Money Fo’ Sho! Money Fo’ Sho! is delivered in partnership with Avocado Vision, combining community‑based expertise with Sanlam’s commitment to building financial inclusion. The programme, which includes Money Online and Money Modular, provides practical, relatable financial education that helps individuals manage their money with greater confidence. By the end of 2025, the programme exceeded its target of 21 152 beneficiaries across all provinces, reaching a total of 21 566 beneficiaries (2024: beneficiaries reached: 18 217; target: 18 146). Training was delivered face-to-face to 20 736 beneficiaries (96%), while 2 133 beneficiaries accessed digital training. Demographically, the project reached 93% black beneficiaries, 39% rural and 82% LSM 1-8. The programme continues to receive excellent feedback from attendees. Looking ahead, Money Fo’ Sho! will continue to roll out worksite sessions and expand capacity for virtual training to reach a wider audience. Financial inclusion Consumer financial education Sanlam Foundation Annual Report 2025 15 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
Trustee financial education programme The Sanlam Foundation’s trustee training programme is designed to strengthen the financial decision‑making capabilities of trustees and shop stewards who carry significant fiduciary responsibilities on behalf of their members. Across many labour unions, trustees are required to navigate complex governance frameworks, manage retirement fund decisions and ensure that member benefits are administered ethically and transparently. In 2025, the Foundation delivered 30 interactive workshops across multiple regions (2024: 15). These sessions were well‑attended, surpassing the target of 700 and reaching 802 beneficiaries drawn from key labour unions, including the National Union of Mineworkers (NUM) and the South African Transport and Allied Workers Union (Satawu). Training content focused on the areas trustees most frequently identify as challenging: retirement fund governance, administration of death benefits and personal financial management. These topics are central to trustees’ day‑to‑day roles and support their ability to make sound, informed decisions that directly affect workers’ financial futures. In 2025, specific topics of focus included the Two‑Pot Retirement System, Section 37C Death Benefits, Personal Financial Management and Cybersecurity. Pre‑ and post‑assessments showed meaningful knowledge and confidence gains, with 83% of beneficiaries reporting enhanced confidence and practical understanding of their fiduciary duties. WageWise The WageWise programme, also in partnership with the ASISA Foundation, forms part of the Sanlam Foundation’s commitment to advancing financial inclusion among working adults across South Africa. WageWise is designed to equip individuals with the practical financial knowledge and behavioural skills they need to manage their money confidently, from budgeting and saving to debt management, responsible credit use, and planning for long‑term financial wellbeing. The programme has a wide reach, leveraging ASISA’s specialist expertise in consumer financial education and its established networks across all nine provinces. This collaboration ensures that WageWise remains accessible, credible and responsive to the financial realities of lower‑ to middle‑income earners. In 2025, the programme reached 27 732 beneficiaries (against a target of 25 722), delivering practical, high‑impact sessions that participants consistently describe as relevant, transformative and directly applicable to both their personal and professional lives. Positive feedback highlights the programme’s role in helping individuals improve their financial habits, strengthen resilience, and make informed decisions that support long‑term stability and dignity. WageWise is developing a new website to further enhance user experience and engagement. “The session was not only insightful but also highly practical, equipping our staff with valuable knowledge and skills to better manage their personal and professional finances. Your facilitators demonstrated exceptional expertise and professionalism, making the training both engaging and impactful. We believe that the lessons learned will greatly contribute to improved financial decision-making and long-term financial wellbeing of our employees. Thank you once again for your support and commitment to empowering communities through financial literacy. We look forward to future collaborations with WageWise.” CEO, Matangari Home of Relief Centre Vhembe District, Limpopo “I would like to extend my sincere thanks for the insightful and engaging financial workshop you conducted. It was not only well-structured for young professionals in our department but also incredibly informative. The session was practical and your expertise and clarity on topics was valuable. Thank you for your time and effort.” Employee Health and Wellness Department of Economic Development Johannesburg WageWise programme reach Workshops held Beneficiaries 2025 736 25 732 2024 858 26 770 Beneficiaries reached through interactive workshops 2025 954 2024 584 Financial inclusion continued Financial inclusion continued Consumer financial education continued Sanlam Foundation Annual Report 2025 16 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
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