NEDBANK GROUP LIMITED - Nedbank Group and Nedbank Limited - Change to board of directors

Nedbank Group and Nedbank Limited - Change to board of directors

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”)

NEDBANK GROUP AND NEDBANK LIMITED – CHANGE TO BOARD OF DIRECTORS

In accordance with the Nedbank Group board succession plan, the boards of Nedbank
Group and Nedbank (“the Companies”) are pleased to announce the appointment of Mr
Hubert Brody (CA(SA)) as an independent non-executive director of the Companies with
effect from 1 July 2017.

Hubert was chief executive of Imperial Holdings, the diversified mobility group, from July
2007 until February 2014 and thereafter served as a non-executive director of Imperial
Holdings until the end of 2014. He previously served as a director and chairman of Imperial
Bank (initially a joint venture between Nedbank and Imperial Holdings and later acquired as a
subsidiary of Nedbank) until 2010. Hubert was an executive at The Sanlam Group Limited
from January 2015 to May 2017. He is also an independent non-executive director at
Woolworths Holdings Limited. Hubert will join Nedbank Group’s Remuneration, Credit and
Audit Committees.

Mr Vassi Naidoo, Nedbank Group Chairman, extended a warm welcome to Hubert and said
that his experience in Africa and in financial services would complement the existing skills
and expertise on the boards and committees of the Companies.

Mr Brody’s appointment increases the percentage of independent non-executive directors on
the Nedbank Group and Nedbank Boards from the current 59% to 61%.

Nedbank Group’s Board diversity targets and achievements against these at 1 July 2017 will
be as follows:

Category                                           Target     Current     Achievement      Outcome
                                                            achievement   at 1 July 2017
Voting rights of black boardmembers as a            50%       64.7%          61.1%         Exceeded
percentage of voting rights of all boardmembers
Voting rights of black women boardmembers as a      25%       29.4%          27.8%         Exceeded
percentage of voting rights of all boardmembers
Black independent non-executive boardmembers as     40%       80.0%          72.7%         Exceeded
a percentage of all independent non-executive
boardmembers
Black executive members of the board as a           50%       66.7%          66.7%         Exceeded
percentage of all executive members of the board
Black women executive members of the board as a     25%       33.3%          33.3%         Exceeded
percentage of all executive members of the board


Sandton
26 June 2017

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

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

Sponsors to Nedbank Limited:
Investec Bank Limited
Nedbank Corporate and Investment Banking
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