Discussion wiith ABSA Group Chief Executive ABSA GROUP LIMITED Incorporated in the Republic of South Africa (Registration number: 1986/003934/06) Share Code: ABG ISIN: ZAE000255915 Bond Issuer Code: ABGI (“Absa Group” or “Group”) ABSA BANK LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1986/004794/06) JSE share code: ABSP ISIN: ZAE000079810 Bond Issuer Code: BIABS (“Absa Bank”) DISCUSSIONS WITH ABSA GROUP CHIEF EXECUTIVE In response to press speculation, shareholders are advised that the boards of directors of Absa Group and Absa Bank (“Boards”) and their Group Chief Executive, Mr Daniel Mminele, have been engaged in various discussions surrounding his working relationship with the Boards. Mr Mminele and the Boards are working on a suitable separation arrangement and a further announcement will be published shortly after midday. Johannesburg 20 April 2021 Enquiries: Alan Hartdegen +27 (0) 72 576 2713 E-mail: Alan.Hartdegen@absa.africa Lead Independent Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Joint Sponsor: Absa Bank - Corporate and Investment Bank 1 Date: 20-04-2021 09:01:00 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.