NEDBANK GROUP LIMITED - Nedbank Group and Nedbank Limited Change to the Boards of Directors and Board Committees

Nedbank Group and Nedbank Limited – Change to the Boards of Directors and Board Committees

Nedbank Group Limited                                 Nedbank Limited
(Incorporated in the Republic of South Africa)        (Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06                   Registration No. 1951/000009/06
JSE share code: NED                                   JSE alpha code: BINBK
NSX share code: NBK                                   (Nedbank)
A2X share code: NED
ISIN: ZAE000004875
JSE alpha code: NEDI
(Nedbank Group or Group)



NEDBANK GROUP AND NEDBANK LIMITED – CHANGES TO THE BOARDS OF DIRECTORS AND
BOARD COMMITTEES


In compliance with paragraph 3.59 of the JSE Limited (JSE) Listings Requirements and paragraph 6.42
of the JSE Debt and Specialist Securities Listings Requirements and as part of the Group's ongoing
board continuity planning, the board of directors of Nedbank Group and Nedbank Limited (the boards)
are pleased to announce that Mr Dixit A Joshi, Ms Natasha Davydova and Mr Sanat Rao have been
appointed as independent non-executive directors with effect from 15 January 2026. Mr Joshi will join
as a member of the Nedbank Group Risk and Capital Management Committee, and Mr Rao and Ms
Davydova will join as members of the Group IT Committee, also with effect from 15 January 2026. The
appointments have been made in terms of the Group's policy on the nomination and appointment of
directors.

Dixit A Joshi (BSc) has extensive experience in capital markets and has held senior leadership roles at
major global financial institutions, including serving as Chief Financial Officer at Credit Suisse from
October 2022 until its sale to UBS. He has also held senior positions at Deutsche Bank and Barclays
Capital. Dixit is currently a Non-Executive Director of Man Group plc.

Natasha (PhD certificate in Finance, London School of Economics and Political Science) has been the
CIO of AXA UKI in the last three years and has over 30 years of international experience in financial
services and technology, with a career spanning consulting, banking, enterprise technology and
insurance. She has held senior executive roles at AXA, Allianz, Salesforce, Deutsche Bank, Standard
Chartered, and HP Enterprise and Accenture. Her domain expertise includes digital transformation,
cloud and infrastructure modernisation, cybersecurity, AI/ML and operational risk. She has a strong
track record of commercialising innovation, leading multi-billion-dollar portfolios and delivering
measurable impact in complex, regulated environments.

Sanat (who holds Masters qualifications in AI Ethics and Society, and in Digital Anthropology, and has
a post-graduate diploma in management) is co-founder and Managing Director of Within The Box.ai.
Sanat is a globally-recognised digital transformation and financial services technology leader, and his
expertise extends across core and digital banking transformation, cloud computing, AI ethics and the
behavioural dimensions of technology adoption. Sanat, who began his career in banking with ANZ
Grindlays Bank before transitioning into technology leadership, has held global executive roles at IBM
and Infosys, including serving as the Global CEO of Infosys Finacle, one of the world's foremost digital
banking platforms.

The boards welcome Dixit, Natasha and Sanat and believe their appointments will bring a wealth of
expertise to the boards, strengthening the board's skills and experience in the key areas of banking and
financial services, capital markets, risk management, digital transformation, cyber security and AI.


Sandton
23 December 2025

Sponsors to Nedbank Group in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

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

Debt Sponsor to Nedbank Group and Nedbank - in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 23-12-2025 05:30:00
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.