Trading statement in respect of the year ended 31 December 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 year ended 31 December 2015 Standard Bank Group will announce its results for the year ended 31 December 2015 (“the results”) on Thursday, 3 March 2016. The group has established that a reasonable degree of certainty exists that these results will differ, as set out below, from those reported for the year ended 31 December 2014 (“the comparable period”). In considering the improvement in earnings reflected below, shareholders are reminded that headline earnings in the comparable period included the impact of losses incurred in the outside Africa discontinued operation of R3.7 billion, which losses have reduced meaningfully in 2015. Furthermore, there are gains recorded outside of headline earnings in 2015 related to the disposal of the abovementioned discontinued operation, which gains were not present in the comparable period. These gains were explained in detail in the Stock Exchange News Service of the JSE (“SENS”) announcement of the group’s interim results to 30 June 2015, dated 14 August 2015. We further draw attention to the SENS announcement dated 30 November 2015 regarding settlement agreements reached by Standard Bank Plc (now known as ICBC Standard Bank Plc) with certain authorities. The final effect of all these items on the results will be fully explained in the group’s results announcement on 3 March 2016, which shareholders should consider in order to gain a full appreciation of the group’s financial performance. The expected range of earnings for the year ended 31 December 2015 as compared to the group’s earnings as reported for the comparable period is set out below on both an International Financial Reporting Standards (“IFRS”) and a normalised basis. The “normalised” earnings measures are presented in accordance with the definition as set out on pages 70 to 72 of the group’s 2014 annual integrated report. The group’s earnings for the year ended 31 December 2015 are expected to exceed the relevant earnings for the comparable period by: - between 25% and 35% in the case of both IFRS earnings per share (EPS) (both undiluted and fully diluted) and of IFRS headline EPS (HEPS) (both undiluted and fully diluted); - between 25% and 35% in the case of both undiluted and fully diluted normalised EPS; and - between 20% and 30% in the case of both undiluted and fully diluted normalised HEPS. The tables below set out the minimum and maximum expected values for these earnings measures for the year ended 31 December 2015 compared to the actual values for the comparable period, on an IFRS and a normalised basis. Audited Minimum Maximum year ended year ended year ended IFRS basis – group 31 December 31 December 31 December 2014 2015 2015 (cents) (cents) (cents) EPS 1 129.9 1 412.3 1 525.3 Diluted EPS 1 107.3 1 384.1 1 494.9 HEPS 1 081.4 1 351.8 1 459.9 Diluted HEPS 1 059.8 1 324.8 1 430.7 Minimum Maximum year ended year ended Year ended Normalised basis – group 31 December 31 December 31 December 2015 2015 2014 (cents) (cents) (cents) EPS 1 117.7 1 397.1 1 508.9 Diluted EPS 1 106.8 1 383.5 1 494.2 HEPS 1 070.3 1 284.4 1 391.4 Diluted HEPS 1 059.8 1 271.8 1 377.7 The financial information on which this trading statement is based has not been reviewed and reported on by the group’s external auditors. Johannesburg 24 February 2016 Lead sponsor The Standard Bank of South Africa Limited Independent sponsor Deutsche Securities (SA) Proprietary Limited Namibian sponsor Simonis Storm Securities (Proprietary) Limited Date: 24/02/2016 08:31:00 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.