Nedbank Group and Deutsche Bank to cooperate on equity and debt capital markets in South Africa & sub-Saharan Africa 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”) Nedbank Limited (Incorporated in the Republic of South Africa) (Registration No. 1951/000009/06) Share code: NBKP ISIN: ZAE000043667 (“Nedbank Limited”) VOLUNTARY SENS ANNOUNCEMENT - NEDBANK GROUP AND DEUTSCHE BANK TO COOPERATE ON EQUITY AND DEBT CAPITAL MARKETS ACTIVITIES IN SOUTH AFRICA AND SUB-SAHARAN AFRICA Nedbank Group through its Corporate and Investment Banking operation (“Nedbank CIB”) and Deutsche Bank, through Deutsche Securities (SA) Pty Limited (“Deutsche Bank”) have entered into a cooperation to jointly provide primary equity and debt capital markets services to corporate, public sector and institutional clients in South Africa and select markets in sub-Saharan Africa. The two institutions will cooperate on a transaction-by-transaction basis, with clients continuing to contract directly with each entity individually. The two parties will not be creating a legal entity or other joint venture structure. There is no impact on existing advisory and financing businesses, which remain separate. The scope of the cooperation will include the following services: - Primary equity capital markets activities, including the management of initial public offerings, rights offers and placements; - Primary equity-linked capital markets activities, including the management of convertible and exchangeable bond offerings; and - International debt capital markets activities, including investment-grade and sub-investment-grade Eurobond offerings. The key highlights of the cooperation are as follows: - Preferred partners in managing capital markets services in South Africa and select markets in sub- Saharan Africa; - Combines Nedbank CIB’s local primary markets expertise and strong client franchise in both the corporate and public sectors with Deutsche Bank’s South African equities and global capital markets distribution platform; and - Broadens client reach through local and international capital markets access, offering relevant, innovative solutions based on global best practice. Brian Kennedy, Group Managing Executive of Nedbank CIB, said: “The cooperation with Deutsche Bank will enhance Nedbank’s ability to provide our clients with access to deeper sources of capital globally”. Muneer Ismail, Chief Executive and Chief Country Officer for Deutsche Bank South Africa, said: “The cooperation offers a creative and innovative way to expand Deutsche Bank’s client footprint and deliver customised solutions”. Alasdair Warren, Deutsche Bank’s Head of Corporate Finance EMEA and Co-Head of Corporate & Investment Bank EMEA, said: “Deutsche Bank has a proud 25-year history in South Africa. Through our cooperation with Nedbank, we aim to broaden our franchise, further underlining our commitment to both the country and the region”. Sandton 6 October 2017 Sponsors to Nedbank Group in South Africa: Nedbank CIB Merrill Lynch South Africa (Pty) Limited Sponsor to Nedbank Group in Namibia: Old Mutual Investment Services (Namibia) (Pty) Ltd Sponsors to Nedbank Limited: Nedbank CIB Investec Bank Limited Date: 06/10/2017 08:00:00 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.