Availability of The Standard Bank of South Africa Limited annual financial statements The Standard Bank of South Africa Limited Registration number 1962/000738/06 Incorporated in the Republic of South Africa Website: www.standardbank.com/reporting JSE bond code: BISTDB Availability of The Standard Bank of South Africa Limited annual financial statements As per the JSE Debt Listings Requirements, the annual financial statements for The Standard Bank of South Africa Limited (the group and company) have been made available on the following website: www.standardbank.com/reporting. The group and company further wish to advise that their audit reports were unqualified. Restatements of previously published results During the preparation of the group and company’s 2022 annual financial statements, the group and company noted the following restatements relating to the group and company’s previously published results: 1. During the current reporting period, the group and company performed benchmarking and internal investigations to reassess the definition of cash and cash equivalents when compiling the statement of cash flows. The following have been identified as industry best practice during this exercise and have resulted in the below restatements of errors, changes to accounting presentation policies and related additional disclosures, these restatements had no impact on the group or company's statement of financial position and income statement. • The direct method provides more reliable presentation of the cash flow movements for the group and company which is not available under the indirect method. This change only impacted net cash flows from operating activities within the statement of cash flows for both the group and company. • The group and company restated its financial statements to appropriately reflect and present the change from on demand loans and advances to banks to cash and cash equivalents in the statement of cash flow and updated the related accounting policy accordingly. These balances were in prior periods excluded from cash and cash equivalents and instead included in income-earning assets. Both the balances and movement have now been appropriately included within the cash and cash equivalents line in the statement of cash flows. • The company restated its financial statements to appropriately reflect capital expenditure on intangible assets included in the statement of cash flow which contained a mathematical error where it erroneously included a reallocation that relates to interest capitalised, from net cash flows used in operations, within interest, fee and commission receipts, to net cash flows used in investing activities, within capital expenditure, when the amount should have been an outflow. Both impacted lines on the statement of cash flow for the company have been restated accordingly. The above changes had the following impact on the statements of cash flows: 2021 As previously reported Restatement Restated Group Rm Rm Rm Net cash flows from operating activities 2 919 (2 919) — Net cash flow used in operations (indirect method) (34 228) 34 228 — Net income before non-trading and capital items, and equity accounted 19 660 (19 660) — earnings Adjusted for non-cash items and other adjustments included in the income (27 918) 27 918 — statement Increase in income-earning assets (107 575) 107 575 — Increase in deposits, trading and other liabilities 81 605 (81 605) — Dividends received 1 596 (1 596) — Interest paid (32 819) 32 819 — Interest received 70 908 (70 908) — Direct taxation paid (2 538) 2 538 — Net cash flows from operating activities — 10 228 10 228 Net cash flow from operations (direct method) — 29 831 29 831 Interest and commission receipts — 101 520 101 520 Interest payments (32 819) (32 819) Recoveries on loans previously written off 780 780 Cash payments to suppliers and employees (39 650) (39 650) Net movement in working capital — (18 661) (18 661) (Increase)/Decrease in operating assets (100 266) (100 266) Increase/(Decrease) in operating liabilities 81 605 81 605 Dividends received 1 596 1 596 Direct taxation paid (2 538) (2 538) Net cash flows used in investing activities (2 429) (2 429) Net cash flows used in financing activities (2 265) (2 265) Net (decrease)/increase in cash and cash equivalents (1 775) 7 309 5 534 Cash and cash equivalents at the beginning of the year 34 030 10 629 44 659 Cash and cash equivalents at the end of the year 32 255 17 938 50 193 2021 As previously reported Restatement Restated Company Rm Rm Rm Net cash flows from operating activities 1 375 (1 375) — Net cash flow used in operations (32 784) 32 784 — Net income before capital items and equity accounted earnings 18 223 (18 223) — Adjusted for non-cash items and other adjustments included in the income (26 869) 26 869 — statement Increase in income-earning assets (106 629) 106 629 — Increase in deposits, trading and other liabilities 82 491 (82 491) — Dividends received 1 315 (1 315) — Interest paid (35 002) 35 002 — Interest received 70 136 (70 136) — Direct taxation paid (2 290) 2 290 — — Net cash flows from operating activities — 10 800 10 800 Net cash flow from operations — 28 604 28 604 Interest, fee and commission receipts — 99 611 99 611 Interest payments (32 887) (32 887) Recoveries on loans previously written off 778 778 Cash payments to suppliers and employees (38 898) (38 898) Net movement in working capital — (16 829) (16 829) (Increase)/Decrease in operating assets (99 320) (99 320) (Increase)/Decrease in operating liabilities 82 491 82 491 Dividends received 1 315 1 315 Direct taxation paid (2 290) (2 290) Net cash flows used in investing activities (1 924) (2 116) (4 040) Net cash flows used in financing activities (1 226) (1 226) Net (decrease)/increase in cash and cash equivalents (1 775) 7 309 5 534 Cash and cash equivalents at the beginning of the year 34 030 10 629 44 659 Cash and cash equivalents at the end of the year 32 255 17 938 50 193 These restatements updated accounting policies and other additional disclosures have had no impact on the group or company’s statement of financial position, income statement or any ratios presented. 2. During the current reporting period, the group performed an assessment on the presentation of MasterCard and Visa fee- related expenses and found that these expenses were erroneously included in operating expenses for the Standard Bank of South Africa (SBSA) entity within the group. The group incurs scheme assessment fees on its Visa and MasterCard offerings to its clients in the Consumer & High Net Worth and Business & Commercial Clients segments, which are in nature linked to the related fee and commission income within non-interest revenue. These expenses have been reclassified to be presented within fee and commission expenses, resulting in a reallocation from operating expenses to fee and commission expenses in the income statement of SBSA company and the SBSA group. This restatement is a reallocation between line items and had no impact on profit for the period, EPS (basic and diluted) or headline earnings for the entity and groups noted. The impact relating to the above on the group and company statements of cash flows has been included in the restatement pertaining to the move to the direct method in the statement of cash flows above. The above restatement had the following impact on the primary statements within these results: 2021 As previously reported Restatement Restated Rm Rm Rm SBSA group Income statement Fee and commission expense (5 688) (258) (5 946) Operating expenses (45 160) 258 (44 902) SBSA company Income statement Fee and commission expense (5 629) (258) (5 887) Other operating expenses (44 384) 258 (44 126) The impact relating to the above on the group and company statements of cash flows has been included in the restatement pertaining to the move to the direct method in the statement of cash flows above. 31 March 2023, Johannesburg Sponsor: The Standard Bank of South Africa Limited Date: 31-03-2023 11:52:00 Produced by the JSE SENS Department. 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