Nedbank Group Limited and Nedbank Limited - Change to the boards 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 LIMITED AND NEDBANK LIMITED – CHANGE TO THE BOARDS OF DIRECTORS The boards of Nedbank Group and Nedbank Limited (“the Companies”) announce the retirement of Ms Nomavuso Mnxasana as an independent non-executive director of the Companies with effect from the close of Nedbank Group’s Annual General Meeting on Thursday, 10 May 2018. Nomavuso was appointed to the Companies’ boards in 2008 and has reached the end of her nine-year term as an independent non-executive director. During her tenure she has chaired the Group Transformation, Social and Ethics Committee, and has also been a member of the Group Audit Committee, Group Risk and Capital Management Committee, Group Remuneration Committee, and Group Directors’ Affairs Committee. Nedbank Group Chairman, Vassi Naidoo, thanked Nomavuso for her exceptional service and commitment to the Group, and wished her well for her future endeavours. Nomavuso’s retirement will bring the percentage of independent non-executive directors on the Nedbank Group and Nedbank Boards down from the current 61% to 59%. Nedbank Group’s Board diversity targets and achievements against these following Nomavuso’s retirement will be as follows: Category Target Current Achievement Outcome achievement at 10 May 2018 Voting rights of black boardmembers as a 50% 61.1% 58.8% Exceeded percentage of voting rights of all boardmembers Voting rights of black women boardmembers as a 25% 27.8% 23.5% Below target percentage of voting rights of all boardmembers Black independent non-executive boardmembers as 40% 72.7% 70% 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 In accordance with Nedbank Group’s board succession plan, recent appointments have taken cognisance of Nomavuso’s retirement on 10 May 2018 and have provided for an appropriate transition period. Sandton 26 March 2018 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 Date: 26/03/2018 12:00:00 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.