NEDBANK GROUP LIMITED - Nedbank Group and Nedbank Limited Changes to the Boards of Directors, Board Committees and Classification of Directors

Nedbank Group and Nedbank Limited – Changes to the Boards of Directors, Board Committees and Classification of Directors

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 or Group)


NEDBANK GROUP AND NEDBANK LIMITED – CHANGES TO THE BOARDS OF DIRECTORS,
BOARD COMMITTEES AND CLASSIFICATION OF DIRECTORS
Shareholders are advised of changes to the designations of Neo Dongwana and Linda Makalima, and
to the membership and chairing arrangements of Nedbank Group Board committees. The changes form
part of the Group’s Board continuity and succession planning and the ongoing refresh of its Board
committees, taking into account the planned retirements of Neo Dongwana, Stanley Subramoney and
Linda Makalima at the close of Nedbank Group’s annual general meeting scheduled for 21 May 2027.

1.     Changes to director designations
       In accordance with the South African Reserve Bank Prudential Authority’s Governance Directive
       D1 of 2026, Neo Dongwana and Linda Makalima will, with effect from 1 October 2026, be
       classified as Non-Independent Non-Executive Directors, having served on the Boards for more
       than nine years.

2.     Changes to Board committees effective 1 October 2026
       Shareholders are further advised of the following changes to the membership and chairing
       arrangements of Nedbank Group Board committees, all with effect from 1 October 2026:

       (a) Group Audit Committee (GAC)
           Mary Bomela has been appointed as Chairperson of the GAC.
           Oliver Fortuin has been appointed as a member of the GAC.
           Neo Dongwana steps down as Chairperson and member of the GAC.

       (b) Group Risk and Capital Management Committee (GRCMC)
           Natasha Davydova and George Njenga have been appointed as members of the GRCMC.

       (c) Group Credit Committee and Large-exposure Approval Committee (GCC and LEAC)
           Stanley Subramoney steps down as Chairperson of the GCC and LEAC and remains a
           member.
           Rob Leith has been appointed as Chairperson of the GCC and LEAC.
           George Njenga and Terence Nombembe have been appointed as members of the GCC and
           LEAC.

       (d) Group Model Risk Oversight Committee (GMROC)
           Mary Bomela and Oliver Fortuin have been appointed as members of the GMROC.
           Neo Dongwana steps down as a member of the GMROC.

       (e) Group Sustainability and Climate Resilience Committee (GSCRC)
           Sanat Rao has been appointed as a member of the GSCRC.

       (f) Group Transformation, Social and Ethics Committee (GTSEC)
           May Hermanus has been appointed as Chairperson of the GTSEC.
           Linda Makalima steps down as Chairperson of the GTSEC and remains a member.
           Natasha Davydova and Fleetwood Grobler have been appointed as members of the GTSEC.

       (g) Group Remuneration Committee (Group Remco)
           Sanat Rao has been appointed as a member of Group Remco.

       (h) Group IT Committee (GITCO)
           Oliver Fortuin has been appointed as Chairperson of the GITCO.
           Rob Leith steps down as Chairperson of the GITCO and remains a member.

       (i) Group Directors’ Affairs Committee (DAC)
           Oliver Fortuin, Mary Bomela and May Hermanus have been appointed as members of the
           DAC in their capacities as Chairpersons of the GITCO, GAC and GTSEC respectively.
           Neo Dongwana and Linda Makalima step down as members of the DAC.

3.     Planned Board retirements and related committee changes
       Neo Dongwana, Stanley Subramoney and Linda Makalima are expected to retire from the
       Boards at the close of Nedbank Group’s annual general meeting scheduled for 21 May 2027.
       Accordingly, the following further changes to Board committee membership and chairing
       arrangements will take effect at that time:
       • Neo Dongwana will step down as a member of Group Remco and the GCC.
       • Linda Makalima will step down as a member of the GTSEC, GRCMC, GCC and GSCRC.
       • Stanley Subramoney will step down as Chairperson and member of the GMROC and as a
         member of the GCC, DAC, GTSEC and Group Remco.

Nedbank Group Chairperson, Daniel Mminele, expressed the Boards’ sincere appreciation to Neo
Dongwana, Stanley Subramoney and Linda Makalima for their longstanding service and significant
contribution to the Group and its Board committees.

He thanked each of the aforementioned directors, as well as Rob Leith, who had chaired the GITCO,
for the experience, sound judgement, commitment and stewardship they had brought to their respective
committee leadership roles and to the governance of the Group.

On behalf of the Boards, Daniel congratulated Mary Bomela, Rob Leith, May Hermanus and Oliver
Fortuin on their appointments as committee chairpersons, and extended his best wishes to them and to
the directors assuming new Board committee responsibilities.

All Board committees will remain duly constituted following the above changes.

Sandton
31 August 2026

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

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

Debt Sponsor to Nedbank Group and Nedbank in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 31/08/2026 15:08:00
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.