ABSA GROUP LIMITED - Executive Director changes and changes to Absa Group and Absa Bank Boards

Executive Director changes and changes to Absa Group and Absa Bank Boards

ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1986/003934/06)
JSE share code: ABG
ISIN: ZAE000255915
Bond issuer code: ABGI
(“Absa Group” or “Group”)

ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
JSE share code: ABSP
ISIN: ZAE000079810
Bond issuer code: BIABS
(“Absa Bank”)

EXECUTIVE DIRECTOR CHANGES AND CHANGES TO ABSA GROUP AND ABSA BANK
BOARDS

In accordance with paragraphs 3.59 of the Listings Requirements and 6.39 of the Debt Listings
Requirements of the JSE Limited, shareholders are informed that the Absa Group and Absa Bank
Boards (“the Boards”) have appointed Arrie Rautenbach as Chief Executive Officer (CEO) and
Executive Director of Absa Group and Absa Bank, effective immediately. Arrie is currently Absa’s
Chief Executive: Retail and Business Banking (RBB). He joined Absa in 1997 and has held
several senior roles over the years, including Chief Risk Officer, Chief Executive: Retail Banking
South Africa, Managing Executive: Absa Card and Managing Executive: Branch Network, Absa
Bank. Arrie has a Bachelors and a Masters in Business Administration (both from the University
of North-West: Potchefstroom) and completed an Advanced Management Program at INSEAD.

Shareholders are also informed that Jason Quinn, currently Interim Group CEO, will resume his
role as Financial Director of Absa Group and Absa Bank, effective immediately, and remain an
Executive Director on the Boards. Jason held this position from August 2016 to April 2021.

Furthermore, shareholders are informed that Punki Modise, currently Interim Financial Director of
Absa Group and Absa Bank, will relinquish these roles and step down as an Executive Director
of the Boards, with immediate effect. She will take the position of Interim Chief Executive: RBB
and remains on the Group Executive Committee.

The Boards welcome Arrie to his new role and thank Jason and Punki for their significant
contributions as Interim Group CEO and Interim Financial Director, respectively, during which
time the Group’s positive operational momentum was maintained.

Johannesburg
29 March 2022

Enquiries:
Alan Hartdegen
(+27 72) 576-2713
E-mail: alan.hartdegen@absa.africa

Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Joint Sponsor:
Absa Bank Limited (Corporate & Investment Bank)

Date: 29-03-2022 07:05:00
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