NEDBANK LIMITED - Nedbank Limited Annual Financial Statements For The Year Ended 31 December 2024 - BINBK

Nedbank Limited Annual Financial Statements For The Year Ended 31 December 2024 - BINBK

NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE alpha code: BINBK
('Nedbank Limited' or the 'company' or the 'group')

NOTICE OF AVAILABILITY OF CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31 DECEMBER 2024

Nedbank Limited hereby notifies debtholders that it has publicly released its audited annual
financial statements (AFS) for the year ended 31 December 2024 and that the auditors' report
relating to the AFS is unqualified.

The AFS contains a prior-year restatement for the year ended 31 December 2023 (prior year) as
follows:

1)   Restatement of interest and similar income split per IFRS 9 classification

     During 2024 the group identified that the 'Interest income on financial instruments measured
     at amortised cost and debt instruments at fair value through other comprehensive income
     (FVOCI)' line item was overstated and that the 'Interest income on other financial instruments
     and similar income' line item was understated by R2 995m. As a result, the prior-year
     information has been restated. This restatement is a reallocation between line items and had
     no impact on interest and similar income, profit for the year and headline earnings.

Full details of the restatement are set out in the AFS.

The AFS are available for inspection at the company's registered office and can be accessed
using the following link: https://www.nedbank.co.za/content/nedbank/desktop/gt/en/investor-
relations/information-hub/financial-results/2024.html

The AFS of Nedbank Limited's holding company, Nedbank Group Limited, for the year ended
31 December 2024, have also been publicly released and can be accessed using the following
link: https://www.nedbank.co.za/content/nedbank/desktop/gt/en/investor-relations/information-
hub/financial-results/2024.html


4 March 2025

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited.

Date: 04-03-2025 07:05:00
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