NEDBANK GROUP LIMITED - Results of the Odd-Lot Offer and Payment Mechanics

Results of the Odd-Lot Offer and Payment Mechanics

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(‘Nedbank Group’)

RESULTS OF THE ODD-LOT OFFER AND PAYMENT MECHANICS

Results of the Odd-lot Offer

Nedbank Group shareholders are referred to the circular containing details of the Odd-lot Offer (‘Odd-lot Offer’) that
was posted to Nedbank Group shareholders on Wednesday, 24 October 2018 (‘Circular’), and the finalisation
announcement that was published on SENS on Tuesday, 4 December 2018, relating to the Odd-lot Offer and the Offer
Price.

The Odd-lot Offer closed at 12:00 (SA time) on Friday, 14 December 2018 and the results thereof are as follows:

                               Number of Nedbank              Number of           Number of        Total Nedbank
                                   Group ordinary        Nedbank Group       Nedbank Group         Group ordinary
                                shares retained by       ordinary shares     ordinary shares          shares sold
                                           election      sold by election    sold by default*

    Certificated                              2 963                1 576              139 396              140 972

    Dematerialised                          471 784              923 591            5 992 076            6 915 667

    Total                                   474 747              925 167            6 131 472            7 056 639


*        Nedbank Group ordinary shareholders holding less than 100 Nedbank Group ordinary shares (‘Odd-lot
         Holdings’ or ‘Odd-lot Shares’) who did not make an election were automatically regarded as having chosen to
         dispose of their Odd-lot Holdings.

Nedbank Group repurchased a total of 7 056 639 Nedbank Group ordinary shares, representing 1.41% of the total
issued ordinary share capital of Nedbank Group for a total consideration of R1 950 996 404.94.

The Nedbank Group ordinary shares repurchased by Nedbank Group in terms of the Odd-lot Offer will be cancelled and
delisted on or about Friday, 21 December 2018, and accordingly the total issued ordinary share capital of Nedbank
Group will be reduced from 500 239 303 to 493 182 664 Nedbank Group ordinary shares.

Payment mechanics for Shareholders holding their Nedbank Group ordinary shares through the Issuer
Sponsored Nominees

Issuer Sponsored Nominees were defined in the Circular as “Pacific Custodians Nominees (RF) Proprietary Limited,
Corpserve Nominees (Private) Limited or National Bank of Malawi Nominees Limited, being nominee companies
through which certain Shareholders hold their Shares”.

South African Shareholders holding Odd-lot Shares through Pacific Custodians Nominees (RF) Proprietary Limited
(‘PCN’): Payment will be made by electronic funds transfer into the Shareholder’s bank account on or about Tuesday,
18 December 2018. No cheques will be issued.

Malawian Shareholders holding Odd-lot Shares through National Bank of Malawi Nominees Limited (‘NBM Nominees’):
Payment will be made by electronic funds transfer to NBM Nominees on or about Tuesday, 18 December 2018. NBM
Nominees will pay Shareholders on or about Friday, 21 December 2018 or as soon as possible after the funds are
received by NBM Nominees. No cheques will be issued.

Zimbabwean Shareholders holding Odd-lot Shares through Corpserve Nominees (Private) Limited (‘Corpserve
Nominees’): Payment will be made by electronic funds transfer to Corpserve Nominees on or about Tuesday, 18
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December 2018. Corpserve Nominees will pay Shareholders on or about Friday, 21 December 2018 or as soon as
possible after the funds are received by Corpserv Nominees. Payments to foreign Shareholders can be made to a
foreign bank account provided Corpserv Nominees has evidence that the Odd-lot Shares were received as a result of
the Unbundling and the Old Mutual Limited or Old Mutual plc shares were initially acquired by such shareholder using
foreign funds remitted through normal banking channels. Payments to local shareholders are able to be made to the
new Foreign Currency Nostro Accounts (‘FCA’) in Zimbabwe. Shareholders are required to contact Corpserve
Registrars on +263 (0)4 751559/61 and provide their FCA information in order to receive payment, if the information
has not been previously provided. No cheques will be issued.

United Kingdom Shareholders holding Odd-lot Shares through Pacific Custodians Nominees (RF) Proprietary Limited
(‘PCN’): Cheques will be mailed to Shareholders in local currency (GBP) on or about Monday, 31 December 2018. The
conversion from ZAR to GBP will occur on Tuesday, 18 December 2018 at the spot exchange rate.

Payment mechanics for Certificated Shareholders (which include Namibian Shareholders)

Payment will be made by electronic funds transfer into the Shareholder’s bank account on or about Tuesday, 18
December 2018. No cheques will be issued.

Payment mechanics for Dematerialised Shareholders (holding Odd-lot Shares through a CSDP or broker)

Payment will be made in the manner stipulated in the agreement concluded between the Shareholder and the CSDP or
broker.


Sandton

18 December 2018

Financial advisors to Nedbank Group:
Nedbank CIB
Deutsche Bank

Sponsors to Nedbank Group:
Nedbank CIB
Merrill Lynch South Africa (Pty) Ltd

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




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Date: 18/12/2018 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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