Change to the boards of directors 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’ or ‘the Group’) NEDBANK LIMITED (Incorporated in the Republic of South Africa) Registration number: 1951/000009/06 JSE share code: NBKP ISIN: ZAE000043667 (‘Nedbank’) NEDBANK GROUP LIMITED AND NEDBANK LIMITED – CHANGE TO THE BOARDS OF DIRECTORS In terms of the Nedbank Group Board Succession Plan, the boards of Nedbank Group and Nedbank Limited (the Companies) announce the retirement of Mr Joel Netshitenzhe as an independent non- executive director of the Companies with effect from the close of Nedbank Group’s Annual General Meeting (AGM) on Friday, 22 May 2020. Joel was appointed to the Companies’ boards in August 2010. In accordance with Nedbank Group Policy, independent non-executive directors retire at the next AGM after completing a nine-year term. Nedbank Group Chairman, Vassi Naidoo, thanked Joel for his wise counsel over the years, noting that his unique insights would be missed at board meetings as well as at the board committees on which he served. On behalf of the board he wished him well in his future endeavours. Sandton 4 February 2020 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: 04-02-2020 03:30:00 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.