STANDARD BANK GROUP LIMITED - Trading statement in respect of the six months ended 30 June 2015

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

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