NEDBANK GROUP LIMITED - Appointment of Director and Chairman-Designate to Nedbank Group and Nedbank and Retirement of Current Chairman

Appointment of Director and Chairman-Designate to Nedbank Group and Nedbank and Retirement of Current Chairman

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(“Nedbank Group” or “the Group”)


NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE share code: NBKP
ISIN: ZAE000043667
(“Nedbank”)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND CHAIRMAN-DESIGNATE TO NEDBANK GROUP
AND NEDBANK AND RETIREMENT OF CURRENT CHAIRMAN ON 11 MAY 2015

The boards of Nedbank Group and Nedbank (“the Companies”) are pleased to announce the appointment of Mr
Vassi Naidoo (59) as a non-executive director and Chairman-designate of the Companies.

Vassi Naidoo’s appointment as a non-executive director of the Companies will be effective from 1 May 2015 and
the boards of Nedbank Group and Nedbank have resolved to elect Vassi as Chairman of the Companies
immediately following the conclusion of the Nedbank Group annual general meeting (‘AGM’) scheduled to be held
on 11 May 2015.

Dr Reuel Khoza, the current Chairman, reached his nine-year term in August 2014 and in line with Nedbank
Group policy retires at the close of the AGM on 11 May 2015.

The appointment of Vassi follows a robust succession planning process for the Chairman that commenced in
2013 and was led by Malcolm Wyman, Nedbank Group’s Lead Independent Director, who commented: “The
directors are delighted to appoint a person of Vassi’s calibre to the board. Vassi’s expertise in banking and
financial services and experience in the Rest of Africa will benefit the Nedbank Group. The timing of this
announcement ensures we will have the benefit of a smooth handover in the Chairman’s office over the next few
months. My board colleagues join me in wishing Vassi every success during his tenure with the Nedbank Group.”

Vassi has also agreed to join the Old Mutual plc board as a non-executive director with effect from 1 May 2015.
In line with the recommendations of King 3, Malcolm Wyman will remain the Lead Independent Director of
Nedbank Group and Nedbank as a result of Vassi being a non-executive, but not independent, Chairman.

Vassi retired from Deloitte’s London office on 30 November 2014.

BIOGRAPHICAL NOTES
Vassi’s past roles include:
CEO of Deloitte Southern Africa 1998-2006
Member of the Global Management Committee of Deloitte Touche Tohmatsu 2000-2006
Deputy Managing Partner of Deloitte Europe Middle East Africa Region 2003-2006
Chairman of Deloitte Africa Board 2004-2006
Member of the Global Board of Deloitte Touche Tohmatsu 2004-2006
Member of the Deloitte UK Executive 2006-2009
Member of the Global Executive of Deloitte Touche Tohmatsu 2007-2011
Vice Chairman of Deloitte UK 2009-2014

Current memberships include:
Member of South African Institute of Chartered Accountants (SAICA) with honorary life membership granted in
2011 for his contribution to the development of the profession in South Africa.
Member of Institute of Chartered Accountants in England and Wales (ICAEW)

Previous memberships include:
Chairman of the African Children’s Feeding Scheme
Trustee of the SAICA Thuthuka Bursary Fund.


Sandton
13 January 2015

Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital

Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd

Sponsors to Nedbank Limited:
Investec Bank Limited
Nedbank Capital

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