Trading statement in respect of the six months ended 30 June 2015 Standard Bank Group Limited Registration No. 1969/017128/06 Incorporated in the Republic of South Africa JSE share code: SBK ISIN: ZAE000109815 NSX share code: SNB NSX share code: SNB ZAE000109815 (“Standard Bank Group” or “the group”) Trading statement in respect of the six months ended 30 June 2015 Standard Bank Group will announce its results for the six months ended 30 June 2015 (“the interim results”) on Friday, 14 August 2015. The group has established that a reasonable degree of certainty exists that the interim results will differ from those reported for the six months ended 30 June 2014 (“the comparable period”) by more than 20% as set out below. The expected differences between the interim results and those for the comparable period arise both from the group’s trading performance and from items related to the disposal of the group’s interests in operations outside of Africa. During the period covered by the interim results, the group completed transactions to dispose of its controlling interest in Standard Bank Plc (now renamed ICBC Standard Bank Plc) and its entire interest in Banco Standard de Investimentos S.A., as announced to shareholders on the Stock Exchange News Service of the JSE Limited on 2 February 2015 and 17 April 2015 respectively. Pursuant to these transactions, earnings attributable to ordinary shareholders include approximately R3.0 billion of net disposal gains excluded from headline earnings. These net disposal gains consist primarily of releases from the group’s foreign currency translation reserve. Headline earnings to 30 June 2015 include the effects of a recently-finalised partial recovery in respect of insurance claims relating to the external fraud in Qingdao port in China; operating losses and final adjustments up to 31 January 2015 in Standard Bank Plc; and cash flow hedge releases relating to the abovementioned disposals. The expected range of performance measures, which include the abovementioned items, for the six months ended 30 June 2015, as compared to the group’s earnings measures as reported for the comparable period, is set out below on both an International Financial Reporting Standards (“IFRS”) and a normalised basis. The “normalised” measures are presented in accordance with the definition on pages 70 to 72 of the group’s 2014 annual integrated report. The group’s key earnings measures for the six months ended 30 June 2015 are expected to exceed the relevant measures for the comparable period by: - between 55% and 65% in the case of both undiluted and fully diluted IFRS and normalised earnings per share (EPS); and - between 22% and 32% in the case of both undiluted and fully diluted IFRS and normalised headline EPS (HEPS). The minimum and maximum expected values for these performance measures are set out in the tables below, on an IFRS and a normalised basis. Expected Expected Unaudited minimum maximum six months six months six months IFRS basis – group ended ended ended 30 June 2014 30 June 2015 30 June 2015 (cents) (cents) (cents) EPS 519.5 805.2 857.2 Diluted EPS 508.2 787.8 838.6 HEPS 518.9 633.1 685.0 Diluted HEPS 507.7 619.4 670.1 Expected Expected Unaudited minimum maximum six months six months six months ended ended ended Normalised basis – group 30 June 2014 30 June 2015 30 June 2015 (cents) (cents) (cents) EPS 513.7 796.2 847.6 Diluted EPS 507.8 787.1 837.9 HEPS 513.1 626.0 677.3 Diluted HEPS 507.3 618.9 669.6 The financial information on which this trading statement is based has not been reviewed and reported on by the group’s external auditors. Johannesburg 28 July 2015 Lead sponsor The Standard Bank of South Africa Limited Independent sponsor Deutsche Securities (SA) Proprietary Limited Namibian sponsor Simonis Storm Securities (Proprietary) Limited Date: 28/07/2015 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.