NEDBANK GROUP LIMITED                            NEDBANK LIMITED
(Incorporated in the Republic of South Africa)   (Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06              Registration number: 1951/000009/06
JSE share code: NED                              JSE alpha code: BINBK
NSX share code: NBK                              (Nedbank)
A2X share code: NED
ISIN: ZAE000004875
JSE alpha code: NEDI
(Nedbank Group)

(collectively ‘the Group’)


NEDBANK GROUP AND NEDBANK – CHANGES TO BOARD COMMITTEES

Shareholders are advised that, in terms of Nedbank Group’s Board Continuity programme, the Group
Boards have resolved to extend the tenures of Stanley Subramoney and Brian Dames to ensure continuity
on the Boards and board committees given planned appointments to, and retirements from, the Boards in
the short-term. Accordingly, Stanley’s tenure on the Group’s Boards will be extended for an initial period
of one year and Brian’s tenure will be extended by one year after the conclusion of Nedbank Group’s AGM
on 30 May 2025. Both Stanley and Brian are classified as Non-Independent Non-Executive Directors, in
terms of clause 8.1.2.8 of the SARB Prudential Authority’s Directive 4 of 2018, having served on the Group
Boards for more than nine years.


Shareholders are further advised of the following changes to the membership of Nedbank Group Board
committees, all with effect from 30 May 2025:


(a)     Group Sustainability and Climate Resilience Committee (GSCRC)
        Following the extension of Brian Dames’ tenure on the Group Boards, Brian will remain as Chair
        of the GSCRC.


(b)     Group Audit Committee (GAC)
        Stanley Subramoney steps down as Chair and member of the GAC.
        Neo Dongwana has been appointed as Chair of the GAC.


(c)     Group Remuneration Committee (Group Remco)
        Hubert Brody steps down as Chair and member of the Group Remco.
        Phumzile Langeni has been appointed as Chair of the Group Remco.


(d)     Group Transformation, Social and Ethics Committee (GTSEC)
        May Hermanus has been appointed as a member of the GTSEC.
        Phumzile Langeni steps down as a member of the GTSEC.
(e)     Group Directors’ Affairs Committee (DAC)
        As a result of their appointments as Chair of Group Remco and Chair of GAC respectively,
        Phumzile Langeni and Neo Dongwana are also appointed as members of the DAC.
        Stanley Subramoney steps down as a member of the DAC.


Nedbank Group Chairperson, Daniel Mminele, wishes to thank Stanley and Hubert for their exceptional
service and commitment they have provided during their tenures as GAC and Group Remco Chairs
respectively. On behalf of the Group Boards, he also wishes Neo and Phumzile well in their new roles as
chairs of GAC and Group Remco, and similarly noted that GTSEC would benefit greatly from May’s
extensive ESG experience.


All Board committees remain duly constituted following the above changes.


Sandton
3 April 2025




Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd


Sponsor to Nedbank Group in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited