Resignation of Managing Executive of Business Banking 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') RESIGNATION OF MANAGING EXECUTIVE OF BUSINESS BANKING Nedbank Group regrets to announce the resignation of Sandile Shabalala, Managing Executive of Business Banking with immediate effect. Sandile reported to Ciko Thomas, the Group Managing Executive for Nedbank Retail and Business Banking, and was a member of our Group Executive Committee. Ciko will assume direct leadership responsibility for Business Banking until the successor is appointed. We have a deep pool of talent in Nedbank and the internal process to identify Sandile’s replacement is well underway. Mike Brown, Chief Executive, commented: “Sandile was a valued member of the bank's leadership community and was at the forefront of the transformational agenda of Business Banking. On behalf of the Group and RBB Executive committee, we would like to express our appreciation to Sandile for his contribution to the Nedbank Group.” Sandton 2 September 2016 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 1 Date: 02/09/2016 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.