Publication Of Annual Financial Statements For The Year Ended 30 June 2021 Bank Windhoek Limited (Incorporated in the Republic of Namibia) Stock Code: BWZJ21 ISIN Code: ZAG000140286 BANK WINDHOEK LIMITED (Incorporated in the Republic of Namibia) Stock Code: BWZJ23 ISIN Code: ZAG000155508 BANK WINDHOEK LIMITED (Incorporated in the Republic of Namibia) Stock Code: BWZJ24 ISIN Code: ZAG000175183 (“the Company”) PUBLICATION OF ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2021 Noteholders are hereby advised that the annual financial statements of the Company for the year ended 30 June 2021, including the unqualified audit reports of PricewaterhouseCoopers, the registered auditors of the Company, are available on the Company’s website at: https://www.bankwindhoek.com.na/Pages/Reports.aspx or may be requested and obtained in person, at no charge, at the registered office of the Company during office hours. Restatement of interest recognised on IFRS 9 stage 3 loans and advances The prior year figures were restated in the 30 June 2021 annual financial statements: IFRS 9 requires that for financial assets in stage 3, entities should recognise interest income on the net carrying amount (gross loans less impairment). Additional interest recognised on the loans and advances will be included in the impairment test which will result in an increase in impairment charge line item. In the 2020 annual financial statements, the interest on the loans and advances and corresponding increase in the impairment unwind on expected credit losses for stage 3 were not recognised as the impact on the net profit before tax was zero. A third statement of financial position is not presented in the Annual Report as the restatement only impacts the loans and advances and no other line item on the statement of financial position. The interest recognised and impairment charge were corrected by restating each of the affected annual financial statement line items for the prior period as follows: 30 June 2020 Restatement Restated (N$’000) (N$’000) 30 June 2020 (N$’000) Consolidated statement of comprehensive income (extract) Interest and similar income 3,764,296 96,482 3,860,778 Credit impairment losses (207,090) (96,482) (303,572) Impact on Profit before Nil income tax Consolidated statement of financial position (extract) Loans and advances to 32,691,865 - 32,691,865 customers Gross loans and advances 33,361,731 96,482 33,458,213 Total impairment (669,866) (96,482) (766,348) Impact on equity Nil 16 September 2021 Debt Sponsor PSG Capital Date: 16-09-2021 03:05:00 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.