04 Aug - 3 min read

Updated Nedbank Group trading statement for the six-month period ending 30 June 2021

Updated Nedbank Group trading statement for the six-month period ending 30 June 2021

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 No. 1951/000009/06
JSE share code: NED                                     JSE share code: NBKP
NSX share code: NBK                                     ISIN: ZAE000043667
ISIN: ZAE000004875                                      JSE alpha code: BINBK
JSE alpha code: NEDI
(‘Nedbank Group’)
(collectively the ‘group’)

UPDATED NEDBANK GROUP TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDING 30
JUNE 2021

In accordance with section 3.4(b) of the Listings Requirements of the JSE Limited, an issuer is required
to publish a trading statement as soon as it becomes reasonably certain that its basic earnings and/or
headline earnings per share for the next period to be reported on are expected to differ by at least 20%
from those of the previous corresponding reporting period.

In Nedbank Group’s FY 2020 results announcement released on 17 March 2021 and in the 4M 2021
voluntary trading update released on 27 May 2021, we advised shareholders that headline earnings per
share (HEPS) and basic earnings per share (EPS) for the six-month period ended 30 June 2021 (‘the
period’) are expected to increase by more than 20% when compared with those in the six-month period
to 30 June 2020 (HEPS: 438 cents and basic EPS: 270 cents) (‘the prior comparative period’). We
updated this guidance on 23 June 2021 when we announced that we expect HEPS and basic EPS for
the period to increase by more than 100% when compared to the prior comparative period. We further
noted that more specific guidance would be provided once there is reasonable certainty regarding the
extent of these increases and ranges.

In line with this commitment, we now have reasonable certainty that the six-month HEPS and basic EPS
increases, and ranges are expected to be as follows:
  -   HEPS for the period is expected to increase by between 145% and 150% compared to the prior
      comparative period, resulting in a range of between 1 073 cents and 1 095 cents per share; and
  -   EPS for the period is expected to increase by between 297% and 302% compared to the prior
      comparative period, resulting in a range of between 1 072 cents and 1 085 cents per share.

We are currently in our closed period and will release our results for the six-months ended 30 June 2021
on the JSE Stock Exchange News Service on Wednesday, 11 August 2021. These results will also be
available on the group’s website: nedbankgroup.co.za.

Shareholders are advised that the financial information contained in this updated trading statement has
not been reviewed or reported on by Nedbank Group´s joint auditors.

Sandton
4 August 2021

Sponsors to Nedbank Group in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Merrill Lynch South Africa (Pty) Limited, t/a BofA Securities

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

Sponsors to Nedbank Limited in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Investec Bank Limited
Date: 04-08-2021 05:05:00
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