Amendment Announcement - “CLN541” The Standard Bank of South Africa Limited Amendment Announcement - “CLN541” Stock Code: CLN541 ISIN Code: ZAG000154402 CLN541 Senior Unsecured Credit Linked Note due 20 December 2023 - sponsored by The Standard Bank of South Africa Limited (acting through its Corporate and Investment Banking Division), issued under its Structured Note Programme, has been amended as follows: Paragraph 25 of the Applicable Pricing Supplement: Final Redemption Amount By deletion of the words “Index Performance = R50,000,000 x (Indexfinal / Indexinitial - 1)” and replacement thereof with the word in the sixth and seventh line of paragraph 25 and the replacement thereof with the words “Index Performance = Indexfinal / Indexinitial -1”. This amendment is effective 25 April 2019 and has been made in accordance with condition 18.1 of The Standard Bank of South Africa Limited’s Structured Note Programme dated 1 January 2017 to correct a manifest error. Save for the rectification of the manifest error, the remainder of the terms of the Applicable Pricing Supplement remain unchanged. The amended Applicable Pricing Supplement is available for inspection via the Issuer’s website: http://reporting.standardbank.com/debt- investors/debt-securities/debt-securities/#1535034197352-df63d15f-0972 Dated 26 April 2019 Sponsor – The Standard Bank of South Africa Limited For further information on the Note issued please contact: Johann Erasmus SBSA (Sponsor) Email: johann.erasmus@standardbank.co.za Date: 26/04/2019 11:00:00 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.