Nedbank Group Limited Investor Presentation — June 2018

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RESULTSNEDBANK GROUP LIMITED

FOR THE SIX MONTHS ENDED 30 JUNE 2018 2 NEDBANK GROUP LIMITED –Interim Results 2018 ir

A strong financial performance

in a difficult environment,

boosted by the ongoing ETI

3 NEDBANK GROUP LIMITED –Interim Results 2018 ir

Overview of our H1 2018 performance

Strong financial performance –headline earnings +27.0% | dividend per share +13.9%

Nedbank share of associate income from ETI returning to profitability off a low base in 2017

−Hard work over the past few years paying off as ETI recorded 5 consecutive quarters of profitability

(6 quarters to June 2018)

Positive growth from managed operations –headline earnings +2.0%

−Economic growth slow to recover after December 2017 political developments

−Gradual recovery in household credit, while corporate credit demand remains weak

−IFRS accounting changes impacted comparability of growth rates in lines of the income statement

−Solid underlying revenue growth, muted by impact of IFRS accounting changes

−Impairment outcome reflects high quality of the book & IFRS accounting changes

−Expenses very well managed, benefit from PRMA credit & IFRS accounting changes

Accelerated digital delivery enhancing client experiences, revenue growth & improving efficiency

Delivering value to all our stakeholders –ongoing focus on governance, sustainability, culture & ethics4 NEDBANK GROUP LIMITED –Interim Results 2018 ir

Stronger economic growth dependent on structural reforms, policy

certainty, improved levels of confidence, investment & job creation

turnaround in SAStructural