Publication Of Bank Windhoek’s Interim Results For The Six Months Ended 31 December 2021 BANK WINDHOEK LIMITED (Incorporated in the Republic of Namibia) Stock Code: BWZJ23 ISIN Code: ZAG000155508 Stock Code: BWZJ24 ISIN Code: ZAG000175183 Stock Code: BWZJ25 ISIN Code: ZAG000182064 (“Bank Windhoek”) PUBLICATION OF BANK WINDHOEK’S INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2021 Noteholders are hereby advised that the 2022 interim results for Bank Windhoek are available on the Company’s website https://www.bankwindhoek.com.na/Pages/Reports.aspx and may be requested and obtained in person, at no charge, at the registered office of Bank Windhoek during office hours. Restatement of interest recognised on IFRS 9 stage 3 loans and advances The prior interim figures were restated in the 31 December 2021 consolidated interim 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 December 2020 condensed consolidated interim 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 condensed consolidated interim financial statements 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 financial statement line items for the prior period as follows: 31 Dec 2020 Restatement Restated (N$’000) (N$’000) 31 Dec 2020 V (N$’000) Consolidated interim statement of comprehensive income (extract) Interest and similar income 1,513,804 73,206 1,587,010 Credit impairment losses (124,197) (73,206) (197,403) Impact on Profit before income Nil tax Consolidated interim statement of financial position (extract) Loans and advances to 33,831,040 - 33,831,040 customers Gross loans and advances 34,698,513 73,206 34,771,719 Total impairment (867,473) (73,206) (940,679) Impact on equity Nil 24 February 2022 Debt Sponsor PSG Capital Date: 24-02-2022 03:00:00 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.