68IG Standard Bk 29

TIDM68IG TIDM67PJ

RNS Number : 7055K

Standard Bank Group Limited

29 August 2023

Standard Bank Group Limited

The Standard Bank of South Africa Limited

29 August 2023

Notification of change of auditors

The Boards and Audit Committees of Standard Bank Group Limited (the group) and The Standard Bank of South Africa Limited (SBSA) would like to inform their stakeholders that subject to shareholder approval, PricewaterhouseCoopers Incorporated (PwC) tenure as a joint auditor will conclude following the finalisation of the group's and SBSA's 2025 financial year. In line with global best practice, the group and SBSA have decided to proceed with the rotation of PwC before its 2026 financial year in accordance with the Independent Regulatory Board for Auditors' Mandatory Audit Firm Rotation (MAFR) ruling issued on 2 June 2017, notwithstanding the ruling on 31 May 2023 by the Supreme Court of Appeal setting aside MAFR.

Furthermore, the Boards and Audit committees of the group and SBSA would like to inform their stakeholders that following a comprehensive tender process, the group and SBSA intend to appoint Deloitte & Touche (Deloitte) as one of the joint auditors for the financial year ending 31 December 2026.

The appointment of Deloitte and the designated audit partner is subject to approval by the South African Prudential Authority in accordance with section 61 of the Banks Act No. 94 of 1990 as amended.

The appointment of Deloitte as a joint auditor for the 2026 financial year will be recommended to the ordinary shareholders for approval at the relevant annual general meeting.

For further information, please contact:

Marc Hearn

Standard Bank Group Limited

9th Floor

5 Simmonds Street, Johannesburg PO Box 2001

South Africa

Telephone number: +27 11 344 5004

DISCLAIMER

This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.

In the United Kingdom, this Announcement is being distributed only to, and is directed only at, persons who are (i) investment professionals, as such term is defined in Article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the Financial Promotion Order); (ii) persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order; (iii) outside the United Kingdom; or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any Notes may otherwise lawfully be communicated or caused to be communicated.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the Securities Act), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of the securities in the United States.

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END

STRPLMATMTMTBIJ

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August 29, 2023 11:06 ET (15:06 GMT)

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