NEDBANK GROUP LIMITED - Credit Ratings Action by Standard and Poor's

Credit Ratings Action by Standard and Poor's

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 alpha code: BINBK
NSX share code: NBK                                        ('Nedbank')
A2X share code: NED
ISIN: ZAE000004875
JSE alpha code: NEDI
('Nedbank Group')

CREDIT RATINGS ACTION BY STANDARD AND POOR'S

Shareholders and noteholders are referred to the Standard and Poor's Global Ratings (S&P) press
release on 20 November 2024 and ratings action on the South African banks, including the ratings of
Nedbank Limited, the 100%-owned subsidiary of Nedbank Group. S&P affirmed Nedbank's 'BB-/B'
global scale issuer credit ratings and revised the outlook from stable to positive. At the same time, S&P
raised Nedbank's long-term South Africa national scale rating from 'zaAA' to 'zaAA+' and affirmed
Nedbank's 'zaA-1+' short-term national scale rating.

This rating action follows S&P's revised outlook on South Africa from stable to positive on improved
reform momentum and stronger growth prospects, and affirmation of South Africa's 'BB-/B' long- and
short-term sovereign foreign currency credit ratings on 15 November 2024.

The detailed credit rating report may be viewed on the following link: Credit ratings report

Sandton
21 November 2024

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 Limited:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 21-11-2024 12:18:00
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.