Group Chief Executive steps down and interim Group Chief Executive is appointed, ABSA GROUP LIMITED Incorporated in the Republic of South Africa (Registration number: 1986/003934/06) JSE 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”) GROUP CHIEF EXECUTIVE STEPS DOWN AND INTERIM GROUP CHIEF EXECUTIVE IS APPOINTED, AND CHANGE TO ABSA GROUP AND ABSA BANK BOARDS (“THE BOARDS”) In accordance with paragraphs 3.59 (b) and (c) of the JSE Listings Requirements, shareholders are informed that an agreement has been reached with Mr Daniel Mminele pursuant to which he has stepped down as a director and Group Chief Executive of Absa Group and Absa Bank, and will cease to be an employee of the Group with effect from 30 April 2021. It has become clear to the parties that there is non-alignment on matters of strategy and culture transformation. The Absa Group and Absa Bank Boards have appointed Jason Quinn as Interim Group Chief Executive with immediate effect, and subject to regulatory approval. Mr Quinn has been the Group Financial Director since August 2016. He has been with the Group in various senior roles since 2008 and before that was a partner at Ernst & Young. The Absa Group and Absa Bank Boards will announce the appointment of an Interim Group Financial Director in the coming days, following regulatory approvals. The Boards wish to thank Mr Mminele for his service and the contribution he made in a time of great challenge for the Group and society during the Covid-19 pandemic. We wish him all the best in his future endeavours. 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 Date: 20-04-2021 12:49:00 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.