Amendment to Standard Bank Group and The Standard Bank of South Africa credit ratings 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 “SBG”) The Standard Bank of South Africa Limited SBS, SBSi, SBK, SBAG, SBAS, SBAPL, SBAPD, SBAE, SBACRN, SBAWHT, SBACOP, SBAOIL, SBACI, SBN, SSN and CLN (all JSE listed bonds issued in terms of The Standard Bank of South Africa Limited’s Domestic Medium Term Note Programme and Structured Note Programme (formerly the Credit Linked Note Programme)) (“The Standard Bank of South Africa” or “SBSA”) Standard Bank Group Limited SBT1 (JSE listed bonds in terms of Standard Bank Group Limited’s Domestic Medium Term Note Programme) Amendment to Standard Bank Group and The Standard Bank of South Africa credit ratings In accordance with paragraph 4.26 of the JSE Listings Requirements, noteholders are hereby advised of the amendment to SBG and SBSA’s credit rating effective on 11 April 2017. Following the lowering by Fitch Ratings (“Fitch” or “the agency”) of South Africa’s sovereign Long-Term Foreign and Local Currency IDRs to BB+ from BBB-, which were assigned on 7 April 2017, the agency yesterday downgraded a number of South Africa’s largest banks, as their ratings are constrained by the sovereign rating. Consequently, Fitch has downgraded the Long-Term Issuer Default Ratings (IDRs) of SBG and SBSA to BB+ from BBB-. The Short-Term IDRs have been downgraded to B from F3. The outlook is stable. At the same time, the long-term and short-term national ratings of SBG and SBSA were affirmed as F1+(ZAF) and AA(ZAF) respectively, with a stable outlook. Fitch has noted the banks as having strong franchises, sound management and governance and solid financial metrics. For commentary on the detailed ratings action taken on SBG and SBSA, together with the other South African Banks, please refer to the Fitch press release on their website: https://www.fitchratings.com/site/pr/1022036 Johannesburg 12 April 2017 Debt Sponsor: The Standard Bank of South Africa Limited Date: 13/04/2017 07:06:00 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.