ABSA GROUP LIMITED - Appointment of auditors

Appointment of auditors

Absa Group Limited
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
JSE share code: ABG
ISIN: ZAE000255915
(“Absa Group”)

Absa Bank Limited
Incorporated in the Republic of South Africa
Registration number: 1986/004794/06
JSE share code: ABSP
ISIN: ZAE000079810
(“Absa Bank”)

APPOINTMENT OF AUDITORS

In accordance with paragraphs 3.75 to 3.78 of the JSE Listings Requirements,
shareholders are informed of the appointment of KPMG Incorporated (KPMG) as the joint
auditors of Absa Group and Absa Bank for the financial year ending 31 December 2021,
as well as the appointment of Pricewaterhousecoopers Incorporated (PwC) as joint
auditors for the financial year ending 31 December 2022. These appointments are
subject to the approval of the Prudential Authority of the South African Reserve Bank.

Absa Group’s and Absa Bank’s current auditors, Ernst and Young Incorporated (EY) will
remain the sole auditors for the 2020 financial year and, together with KPMG, will act as
joint auditors for the 2021 financial year. EY’s appointment will be terminated upon
conclusion of the audit of the 2021 financial year in anticipation of the mandatory audit
firm rotation requirements of the Independent Regulatory Board for Auditors (IRBA) and
in order to ensure a smooth handover process to the new joint auditors.

In accordance with section 61 of the Banks Act No. 94 of 1990, as amended (Banks Act)
as read with section 90(1) of the Companies Act No. 71 of 2008, as amended, as well as
paragraph 3.86 of the Listings Requirements, the respective appointments of KPMG and
PwC will be recommended to the Absa Group ordinary shareholders at the next annual
general meeting in June 2021.

Johannesburg
29 July 2020

Enquiries:
Nadine Drutman (Group Company Secretary)
Nadine.Drutman@absa.africa
Tel: 011 350 5347
Independent lead sponsor to Absa Group:
J.P. Morgan Equities South Africa Proprietary Limited

Joint sponsor to Absa Group and Sponsor to Absa Bank:
Corporate and Investment Bank, a division of Absa Bank Limited

Date: 29-07-2020 02:30:00
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