Notification of Change of Auditor 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 number: 1951/000009/06 JSE share code: NBKP ISIN: ZAE000043667 (‘Nedbank’) (collectively, ‘the Companies’) NEDBANK GROUP LIMITED AND NEDBANK LIMITED - NOTIFICATION OF CHANGE OF AUDITOR IN TERMS OF PARAGRAPH 3.78 OF THE JSE LISTINGS REQUIREMENTS In June 2017, the Independent Regulatory Board of Auditors published a rule prescribing that auditors of public interest entities in South Africa must comply with mandatory audit firm rotation (‘MAFR’), whereby audit firms shall not serve as the appointed auditor of a public interest entity for more than 10 consecutive years, with effect from 1 April 2023. The Boards of the Companies and their respective audit committees wish to inform shareholders that, following a comprehensive tender process, Ernst & Young Incorporated, with Mr Farouk Mohideen as the designated registered audit partner, has been nominated as their new joint external auditors effective 8 and 10 May 2019 respectively. These appointments are subject to shareholders’ approval at the Companies’ annual general meetings on 8 and 10 May 2019, and will commence from the financial year ending 31 December 2019. As a consequence, KPMG Inc. will rotate off the Companies’ audits on conclusion of its external audit responsibilities for the year ending 31 December 2018, expected to be at the conclusion of the relevant AGMs. Ernst & Young will provide its services alongside Deloitte & Touche, who have, as a consequence of the tender process been nominated to remain the joint external auditor of the Companies, subject to shareholder approval at the relevant AGMs, until their rotation off the Companies’ audits in line with MAFR implementation timelines. Sandton 29 October 2018 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 Sponsors to Nedbank Limited: Investec Bank Limited Nedbank CIB Date: 29/10/2018 12:00:00 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.