STANDARD BANK WEALTH / PAGE 1

SBG SECURITIES FINANCIAL SECTOR INVESTOR CONFERENCE6 November 2020

A F R I C A’ S P R E M I E R BA L L E R I N A

/ S t a n d a r d B a n k Yo u n g A r 0 s t/ We a l t h A m b a s s a d o r

WEALTHPresented by Margaret Nienaber, CE: Wealth

STANDARD BANK WEALTH / PAGE 2

1. WEALTH POSITIONING

2. FINANCIAL PERFORMANCE

3. GROWTH & POTENTIAL

4. LOOKING FORWARD

AGENDA

STANDARD BANK WEALTH / PAGE 3

1. WEALTH POSITIONING

UGANDA

POSITIONING WEALTHWITHIN THE STANDARD BANK GROUP

158Number of years we’ve offered

Financial Solutions in Africa

DIVERSIFICATION IN GEOGRAPHY

20African countries we operate in

SIGNIFICANT CLIENT BASE

15.1mActive clients

(as of 30 June 2020)

SKILLED WORKFORCE

51kGroup employees worldwide

STRENGTH IN LEGACY AND HERITAGE

AFRICA IS OUR HOME WE DRIVE HER GROWTH

LIBERTY

4

WEALTH

3

PERSONAL AND BUSINESS

BANKING (PBB)

2

CORPORATE AND INVESTMENT

BANKING (CIB)

1

YOU . FAMILY . BUSINESS . COMMUNITY . PARTNERSHIPS 4

DEFINING WEALTHLEADER IN WEALTH ON THE CONTINENT PROVIDING A COMPREHENSIVE & INTEGRATED RANGE OF SOLUTIONS

WEALTH SOUTH AFRICA (WSA)

WEALTH INTERNATIONAL (WIN)Isle of ManJerseyLondonMauritius (Fiduciary)

WEALTH AFRICA REGIONS (WAR) AngolaBotswanaEswatiniGhanaKenya

LesothoMalawiMozambiqueNamibiaNigeria

ADVISEAdvisory services through

Wealth and Investment and Standard Bank Financial

Consultants (“SBFC”) including Fiduciary services

INSUREManufacturing and distribution of short

term and life insurance products, including Bancassurance

TanzaniaUgandaZambiaZimbabwe

INVESTDiscretionary (Melville Douglas),

Stockbroking, International deposits, Nigeria Pension Fund

Administration (PFA), SIMS Ghana, Funds (incl. Alternatives)

and Passives

WEALTH MANAGEMENT

INSURANCE

5

5.03 5.21

H1 2019 H1 2020

OUR CLIENT OBSESSIONRETAINED A STRONG CLIENT BASE DURING THE TUMULTUOUS TIMES THAT 2020 HAS PRESENTED

200 202

61 67

137 214

H1 2019 H1 2020WSA WIN WAR

398 483

22%

ASSETS UNDER MANAGEMENT AND ADVICE1 (R’bn)

WEALTH INTERNATIONAL DEPOSITS(GBP’bn)

3%

1 CCY Total AUM growth 10%A TRUSTED BRAND WITH MARKET LEADING RESULTS

31%LEADING

MARKET SHARE(by AUM)

NIGERIA PENSION FUND ADMINISTRATION

RECOGNISED BY OUR CLIENTS AND THE INDUSTRY

8 483 9 302

3 1303 312

1 0071 169

H1 2019 H1 2020WSA WIN WAR

NEW HIGH NET WORTH CLIENT GROWTH

($1m Investable Assets)

12 62013 783

Private Banker International Outstanding Global Private Bank

in Africa 2020

9%

Global Finance Private BankBest Private Bank in

Africa 2020

PWM / The BankerBest Private Bank

in Nigeria 2020

EuromoneyAfrica’s Best Bank for Wealth

Management 2020

IntellidexTop Wealth Manager for International

Wealthy Families 2020

International InvestmentExcellence in International

Private Banking 2020

IntellidexTop Stockbroker of the

Year 2020

STANDARD BANK WEALTH / PAGE 7

1) Future is about storytelling – simple language engagement

2) Allow clients to self-select between truly digital & truly human

3) Create communities to share data with family & friends

4) Millennials focused on value-based investing

5) Ensure data analysts also understand financial data

6) A proactive, consistent & personalised human engagement

7) No multiple sign-ins, with multiple digital assets/KYC

8) Educate and assist my children

9) More value-added services (lounges, travel, partnerships, insights)

10) An integrated SBG experience, pricing and relationships

THE NO.1 THING THAT HAS MADE US SUCCESSFUL BY FAR IS OBSESSIVE COMPULSIVE FOCUS ON THE CUSTOMER

/ A m a z o n F o u n d e r & C E O

CLIENT OBSESSIONWHAT ARE CLIENTS ASKING FOR?

T R U S T 7

Aggregation tool providing clients with a view of their net

wealth across financial institutions and geographies

+35k active app users

+R49bn assets linked

Robo-advisor developed

Phased roll-out to PBB clients

commenced

WHATSAPP Chatbot

+110k Covid-19 conversations

Funeral insurance released

Wealth and Investment banking

MY360 APPThe future of

managing wealth

WhatsApp based chatbot giving clients the ease to engage with Standard Bank on a variety of client solutions

LIFE INSURANCE BUY ONLINE

Direct to consumer life insurance proposition

Proposition that allows customers to buy life, disability, terminal illness and income protection cover through an

end-to-end digital process

CLIENT OBSESSIONTRULY DIGITAL

App store rating

CLOUD & API READY

8

CLIENT OBSESSIONTRULY HUMAN

/ 92% retention of Relationship & Wealth Managers over 5 years

/ Challenger model introduced for meaningful conversations

/ Established Wealth Exco succession/ Strong African Female succession pipeline

/ 46% African Female succession for top leadership

/ Various Next Gen committees

WE ARE EMBRACING DIVERSITY & TRANSFORMING OUR WORKFORCE TO UNDERSTAND OUR CLIENT BASE

Female55%

Male45%

9

INCORPORATING BEHAVIORAL SCIENCE IN UNDERSTANDING CLIENTS NEEDS

• H1: 20% increase in referral sales for car and home insurance and funeral plan compared to H1’19

• H1: 24% increase in Credit Life sales in Gauteng by Private Bankers utilising the behavioural science toolkit compared to H1’19

• Preparing employee skills for future careers through academy

WEALTHGENDER

MIX

RETENTION

SUCCESSION

GENERATIONAL LEADERSHIP

9

PROACTIVE RESPONSE TO C VID-19CUSTOMER RELIEF MEASURES DURING COVID-19 FURTHER ENGENDERED CLIENT LOYALTY AND TRUST

SOUTH AFRICA AFRICA REGIONS INTERNATIONAL

Involvement in a revolving credit facility (£30m) to the Isle of Man Government, to support its COVID-19 response

14 Client concessions approved:

§ Using the client’s interest deposit account to service one or two quarters’ interest

§ Waiving of capital reductions where interest payments are up to date and LTV is acceptable

Car insurance: 133k policies benefited from premium cashback totalling R32m

Credit life: compulsory cover on retrenchment or inability to earn income

Student loans Credit Life premiums waived for 3 months totalling R1.4m

Proactive identification of clients who seek payment and loan restructure moratoriums(497 accounts to the value of R2.9bn)

Funeral plan premium payment relief through extending lapse period to 3 months (delayed lapses of R7m)

Credit life: clients benefited from premium relief totalling R10m

Car insurance: clients benefited from premium cashback totalling R1m

Funeral & Education plans: clients benefited from premium holidays and waived surrender penalties totalling R1m

High Net Worth: Lending restructure of loans & reduced fees on electronic/digital channels

10

STANDARD BANK WEALTH / PAGE 11

NIGERIA

2. FINANCIAL PERFORMANCE

OUR RECENT FINANCIAL PERFORMANCE A RESILIENT FINANCIAL PERFORMANCE IN CHALLENGING MARKET CONDITIONS

H1’20 HEADLINE EARNINGS

4%

R1.7bn2

(H1’19: R1.8bn)

ROE28%

FY’19HEADLINE EARNINGS

CTI52%

14%

R3.6bn1

(FY18: R3.1bn)

121 CCY HE Growth 11%2 CCY HE Growth -11%

0,2 0,20,4

0,9 0,90,9

0,40,7 0,4

H1 2018 H1 2019 H1 2020

Wealth Management Insurance WIN

HE BY BUSINESS LINE (R’bn)

1,1 1,1 1,3

0,4 0,70,4

H1 2018 H1 2019 H1 2020WSA and WAR WIN

HE BY REGION (R’bn)

34%

14%

4%

34%

48%

DIVERSIFICATION BY REGION AND BUSINESS LINE

(excl. WIN)

WEALTH AFRICA REGIONS

REVENUEH1’2020 WELL DIVERSIFIED

BUSINESS LINES

H1’2020

Africa Regions

Insure 41 %

/ Wealth & Investment/ SBFC/ Fiduciary

/ 52% Long-term/ 48% Short-term

Invest41 %/ Melville Douglas/ International deposits/ Nigeria Pension Fund (PFA) / Alternatives/Passives

REGIONALH1’2020

International

South Africa

Advise 18 %

Lesotho 1%

Eswa,ni 1%Namibia 4% Botswana 1% Malawi 0.1%

Zimbabwe 0.1%

Kenya 4%

Uganda 1%

Mozambique 2%

Zambia 1%

Tanzania 0.1%

Ghana 5%

Angola 0.1%

Nigeria 79%

Lesotho 2% Eswatini 2%

Namibia 11%Botswana 3%

Malawi 0.1%

Zimbabwe 0.1%

Kenya 11%

Uganda 2%

Mozambique 4%

Zambia 4%Tanzania 0.1%Ghana 11%Angola 1%

Nigeria 47%

AFRICA REGIONS

EXCLUDING NIGERIA PFA

COUNTRY SPLIT

H1’2020

13

WEALTH MANAGEMENTADVISE AND INVEST

93 90 111

H1 2018 H1 2019 H1 2020

189 200 202

52 61 67117 137 214

H1 2018 H1 2019 H1 2020WSA WIN WAR

ASSETS UNDER MANAGEMENT AND ADVICE1

(R’bn)WEALTH INTERNATIONAL DEPOSITS2

(R’bn)

22% 24%

§ Assets Under Management growth driven by:

– Nigeria Wealth achieved 48% in ZAR (21% in CCY) growth in AUM

– Sustained growth supported by strong NCCF in a challenging environment

– South Africa: AUM remained flat following a market recovery in Q2 and positive net client cash flows.

§ Wealth International deposit base up 24% (3% in CCY) due to externalisation from Africa in the mass affluent segment as well as growth in corporate call accounts.

§ Melville Douglas continues to be recognised for their outstanding client performance, recently being acknowledged as Citywire’s Top AA-rated Global Equity Sector Fund Manager

1 CCY Total AUM growth 10% 2 CCY deposit growth 3%

SBFC: ASSETS UNDER ADVICE (AUA) (R’bn)

WEALTH AND INVESTMENT: CLIENT BALANCES3

(R’bn)(Deposits, Lending and AUA)

106 115 121

H1 2018 H1 2019 H1 2020

130 140 155

H1 2018 H1 2019 H1 2020

3 2018 includes results from discontinued Mauritius operation

§ Wealth and Investment client balance growth of 11% driven by continued focus on new client acquisition and enhanced client experience

§ Despite New Client Cash Flows being under pressure, significant reinvestment from existing portfolios.

§ SBFC continues to build a strong partnership with Liberty

§ SBFC Virtual advice value proposition launched to clients during lockdown

11%5%

398358

483

KEY HIGHLIGHTS: INVESTMENTS

KEY HIGHLIGHTS: ADVISE

14

INSURANCESTABLE PERFORMANCE WHILE FIELDING SIGNIFICANT MACRO-ECONOMIC CHALLENGES

1 South Africa HE results not including costs associated with Centre of Excellence.

Credit Life and Funeral Underwritten by Liberty Group Limited

SOUTH AFRICA: GROSS WRITTEN PREMIUM (R’bn)

SOUTH AFRICA: HEADLINE EARNINGS1

(R’m)

1,6 1,8 1,9

1,8 1,9 1,9

H1 2018 H1 2019 H1 2020

Life Insurance Short Term Insurance

635 638 643

234 236 270

H1 2018 H1 2019 H1 2020

Life Insurance Short Term Insurance

3% 4%§ Lower net incurred short-term

insurance claims driving headline earnings results

§ Robust Life Insurance GWP performance

§ 65% increase in Retrenchment claims year on year

§ Proactive client retentions initiatives yielding results with cancellations decreasing YoY

§ R1.1bn insurance claims paid to SA clients

§ Improved underwriting margins driven by lower claims and positive trends in cancellations

§ A well diversified brokerage business in Africa regions

20 14 22

H1 2018 H1 2019 H1 2020

SOUTH AFRICA: SHORT-TERM INSURANCE UNDERWRITING MARGIN

(%)

KEY INSIGHTS

5%5%

25%

8%4%3%8%

6%

10%

10%

1%3%

3%9%

LesothoEswatiniNamibiaBotswanaMalawiZimbabweKenyaUgandaMozambiqueZambiaTanzaniaGhanaAngolaNigeria

AFRICA REGIONS: INSURANCE REVENUE

H1’20R224m

(H1’19: R194m)

15%

15

R3,4bn R3,7bn R3,8bn R869m R913mR874m

10%

3%14%

1%

STANDARD BANK WEALTH / PAGE 16

JERSEY

3. GROWTH & POTENTIAL

ONGOING COLLABORATIONAND ALIGNMENT THROUGH OUR INTEGRATED GROUP

§ Most significant bancassurance agreement on the continent§ SBFC largest bank-owned complex risk provider and key for

STANLIB distribution

SHARING OF PRODUCT SETS AND CAPABILITIES WITH LIBERTY

1 Across Standard Bank and Liberty (AUM, AUA and International deposits)

§ +3.5m credit life, funeral and general insurance policies§ R1.2tn client assets managed across South Africa, Africa

Regions and International¹

ACCESS TO SBG CLIENT BASE

§ Scaling of Flexible Funeral product through PBB collaboration, 180k policies since June 2020

§ Deliver Wealth for CIB; Financial Fitness Academies delivered to +60 corporates, reaching +10k individuals

§ Investment in strategic partners: § 1nvest Passives (AUM R20bn), collaboration between

STANLIB, CIB and Wealth since October 2019§ MobiLife (310k policies), since January 2019

ACCESS TO DISTRIBUTION CHANNELS

§ Through strengthened analytical capabilities and effectively leveraging Group data

§ Market competing short-term underwriting margins (22%)

PRICING AND RISK ASSESSMENT SOPHISTICATION

17

AFRICA REGIONSDRIVING DEEPER EXPANSION TO FURTHER DIVERSIFY & GROW EARNINGS STREAMS & RISK PROFILES ACROSS THE CONTINENT

DEVELOP AND EXPAND OUR FOOTPRINT

STRENGTHEN OUR OFFERING

DIVERSIFY DISTRIBUTION CHANNELS

CAPTURE OFFSHORE MARKET

§ Obtained insurance brokerage license in Ghana§ Complete footprint with 14 Brokerage licenses in Africa Regions§ Provisional Life license in Nigeria

§ Broadening of international investment offering§ Launch of African Women Impact Fund in collaboration with United

Nations, STANLIB and CIB and Pan-African sovereign debt fund § Launched Chama (Kenyan Digital Stokvel) app and the Ugandan version

called SACCO app§ Partnership with Price Forbes to offer specialized corporate insurance

solutions (e.g. Oil & Gas)

§ c.20-40% of Africans’ Wealth is externalised from the continent, therefore Wealth International’s proposition provides a vehicle for the flow while retaining share of wallet

§ My360 in Ghana§ Digital servicing and claims capabilities in Nigeria

§ Telesales underway in Namibia, Ghana, Eswatini, Kenya, Uganda & Zambia

§ Financial Fitness Academies delivered to +60 corporates, to +10k people

§ Three leadership academies held by W&I with +1k client attendees from across the continent

LEVERAGE GROUP CAPABILITIES AND DIGITAL ASSETS

SBGSBG and Wealth

Presence in Africa

18

DIGITAL CAPABILITIESOUR DIGITAL CAPABILITIES ALLOW US TO EFFICIENTLY MEET OUR CLIENTS WHERE THEY ARE, THROUGH THE CHANNEL OF THEIR CHOICE

SALESFORCEGOALSETTER ANDGROW MY MONEY TOOL

WEALTH INTERNATIONAL WINWEB

§ Portal for Financial Advisors to sell international Goal Standard funds to SA based clients

§ Scaled rollout of Grow my Money tool to SA branches (integrated into Staff container)

§ Added additional investment types e.g. Shariah

§ Improve customer satisfaction§ Improve business user

productivity§ Improve top line revenue

INSURANCE (TELEMATICS) APP§ Cloud native app offering a discount on our quote to clients

who pass the digital driving test through the app’s telematics capabilities.

§ Digital quoting and sales for motor insurance can be completed on the app in 7 minutes

§ Registration of motor insurance claims enabled on the app

§ Successfully deployed the retail proposition for the Wealth International customer base

19

STANDARD BANK WEALTH / PAGE 20

LONDON

4. LOOKING FORWARD

POSITIONING OURSELVES FOR THE FUTURELEVERAGING OUR CORE STRENGTHS AND FOCUSED STRATEGIC PRIORITIES TO CONTINUE DRIVING GROWTH

Unrivalled African-focused capabilities,

capturing the multitude of in-country opportunities

Access to widespread client base and

distributioncapabilities through our

integrated Group

Investment in digital assets and

capabilities to embrace the Group’s future ready

agenda

21

STANDARD BANK WEALTH / PAGE 22

THANKYOU

JOHANNESBURG