Early Retirement of Executive Committee Member NEDBANK GROUP LIMITED (Incorporated in the Republic of South Africa) Registration number: 1966/010630/06 ISIN: ZAE000004875 JSE share code: NED NSX share code: NBK (“Nedbank Group” or “the Group”) EARLY RETIREMENT OF EXECUTIVE COMMITTEE MEMBER Nedbank Group announces the early retirement of Abe Thebyane (57) after more than 6 years as Group Executive of Human Resources and a member of the Group Executive committee. Abe has decided to take early retirement in terms of the rules of the bank’s retirement policy. Abe joined Nedbank as part of the Group Executive team in February 2011. During his tenure, he was instrumental in initiating the People 2020 strategy, which includes the transformation of Nedbank’s culture, the leadership journey and new talent management approach. In 2015, he co-led efforts to implement the SAP Human Capital Management in the bank. Nedbank will commence the process to appoint a successor for Abe and decided to extend the process both internally and externally. The effective date of his early retirement will be announced upon the appointment of a suitable successor to ensure a seamless handover of responsibilities. Chief Operating Officer, Mfundo Nkuhlu commented: ‘We wish Abe well in his early retirement and thank him for his contribution to Nedbank.’ Sandton 18 October 2017 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 Date: 18/10/2017 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.