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Update to the ZAR50,000,000,000 Domestic Medium Term Note Programme
STANDARD BANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1969/017128/06)
Issuer Code: SBKI
("SBG" or "the Issuer")
NOTIFICATION OF AN UPDATE TO THE ISSUER'S ZAR50,000,000,000 DOMESTIC MEDIUM
TERM NOTE PROGRAMME
Noteholders are advised that SBG has updated the following documents relating
to its ZAR50,000,000,000 Domestic Medium Term Note Programme (the
"Programme"):
• the programme memorandum dated 13 November 2025 (the "Programme
Memorandum");
• the Issuer Disclosure Schedule dated 13 November 2025, which is
incorporated by reference in the Programme Memorandum; and
• the Risk Factors and Other Disclosures Schedule dated 13 November 2025,
which is incorporated by reference in the Programme Memorandum.
A summary of the key changes made to the Programme Memorandum are as follows:
• amend the documents incorporated by reference section
• updates to the section of the Programme Memorandum headed "Summary
of the Programme" to:
o incorporate Flac Notes
o Update to the conflict of interest register link;
o correct errors of a typographical nature;
o remove reference to Pm being rated;
o clarify and remove certain definitions;
• amendments to the section of the Programme Memorandum headed
"General Terms and Conditions" to:
o incorporate, clarify or remove certain definitions as per the
Debt and Specialist Securities Listings Requirements and
introduction of the Flac instruments, Flac requirements and Flac
standards
o incorporate additional definitions
o incorporate Condition 6.2.6 Screen rate determination for
floating rate notes which reference Zaronia (Recognition of RSA
Bail-in Powers);
o incorporate additional disclosure of RSA Bail-in Powers
o update the pro forma applicable pricing supplement
o correct errors of a typographical nature;
o updates to include the definition of the JSE DSS Requirements
o include the Flac Notes terms and conditions
• amendments to the section of the Programme Memorandum headed
"Additional Tier 1 Terms and Conditions" to:
o incorporate, remove or clarify certain definitions;
o incorporate power disruptions, pandemics and other health crisis
in Condition 10.5 (Method of Payment);
o incorporate Condition 23 (Recognition of RSA Bail-in Powers);
The amendments to the Programme Memorandum have been approved by the JSE. The updated programme memorandum, the updated Issuer Disclosure Schedule and
the updated Risk Factors and Other Disclosures Schedule, each dated 19 December
2024, are available for inspection on SBG's corporate website:
https://reporting.standardbank.com/debt-investors/debt-securities/debt-securities/.
14 November 2025
Johannesburg
Debt Sponsor
The Standard Bank of South Africa Limited (acting through its Corporate and
Investment Banking division)
EMEA 141595586 v2 2
Date: 14-11-2025 05:10:00
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