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 JSE alpha code: NEDI (‘Nedbank Group’) DEALINGS IN SECURITIES : GRANT AND ACCEPTANCE OF RESTRICTED SHARES In terms of paragraphs 3.63 - 3.66 of the Listings Requirements of the JSE Limited, the following information is disclosed in respect of the grant and acceptance of Restricted Shares in off-market transactions to the executive directors, prescribed officers and company secretary of Nedbank Group Limited on 22 March 2023. This grant is in terms of the Nedbank Group (2005) Share Option, Matched Share and Restricted Share Scheme first approved by shareholders at the annual general meeting on 4 May 2005, with updated rules thereafter being approved by shareholders at the annual general meeting on 10 May 2018. The Restricted Shares are Nedbank Group ordinary shares that are issued at no cost to eligible employees at the volume-weighted average price (R226.09) for the three trading days ended 9 March 2023, being the three trading days immediately after the publication of Nedbank Group’s 2022 results. These Restricted Shares are held on an indirect beneficial basis and participants are eligible for dividends from the date of grant and acceptance thereof. In terms of the Nedbank Group (2005) Share Option, Matched Share and Restricted Share Scheme, the executive directors, prescribed officers and company secretary have no discretion in relation to the number of Restricted Shares awarded to them nor the price at which such Restricted Shares are awarded. The awards of Restricted Shares in 2023 to Group Exco members and Cluster Exco members are 100% subject to corporate performance-based vesting criteria. The March 2023 Restricted Share awards for the executive directors, prescribed officers and company secretary are set out below: Name: MWT Brown Capacity: Chief Executive Officer Number of restricted shares: 75 191 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R16 999 933.20 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: MH Davis Capacity: Chief Financial Officer Number of restricted shares: 48 653 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R10 999 956.80 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: MC Nkuhlu Capacity: Chief Operating Officer Number of restricted shares: 53 076 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R11 999 952.80 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: A Bosman Capacity: Prescribed officer (Group Managing Executive: Corporate & Investment Banking) Number of restricted shares: 39 807 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R8 999 964.63 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: I Ruggiero Capacity: Prescribed officer (Group Managing Executive: Nedbank Wealth) Number of restricted shares: 35 384 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R7 999 968.56 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: TG Sibiya Capacity: Prescribed officer (Group Managing Executive: Nedbank Africa Regions) Number of restricted shares: 35 384 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R7 999 968.56 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: CJ Thomas Capacity: Prescribed officer (Group Managing Executive: Retail & Business Banking) Number of restricted shares: 48 653 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R10 999 956.80 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Name: J Katzin Capacity: Company Secretary Number of restricted shares: 7 297 all with performance-based vesting criteria Price per restricted share: R226.09 Total value: R1 649 778.73 Date of grant and acceptance: 22 March 2023 Date of vesting: 23 March 2026 Clearance has been obtained in respect of the above transactions. Sandton 27 March 2023 Sponsors to Nedbank Group in South Africa: Merrill Lynch South Africa (Pty) Limited Nedbank Corporate and Investment Banking, a division of Nedbank Limited Sponsor to Nedbank Group in Namibia: Old Mutual Investment Services (Namibia) (Pty) Ltd