Chairman succession planning 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”) CHAIRMAN SUCCESSION PLANNING Shareholders are hereby informed that the Absa Group and Absa Bank boards have commenced a succession process to ensure an orderly transition when the term of the current Chairman, Wendy Lucas-Bull, expires in approximately 18 months on 31 March 2022. In terms of SARB Directive 4/2018, a director can no longer remain on the board of a bank as an independent non-executive director beyond a period of 9 years. Ms Lucas-Bull joined the Absa Group Board as an independent non-executive director and Chairman on 1 April 2013 and will have served 9 years by the end of March 2022. She is also Chairman of Absa Bank and Absa Financial Services Limited. The succession process will consider internal and external candidates and the timing will accommodate an appropriate onboarding, induction and eventual handover by Ms Lucas- Bull to the new appointee. An announcement will be made when the succession process is completed. Johannesburg 9 October 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: 09-10-2020 04:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.