Absa : Appointment of independent non-executive director, 14 October 2020

Absa Group Limited

Incorporated in the Republic of South Africa

Registration number: 1986/003934/06

Share code: ABG

ISIN: ZAE000255915

("Absa Group")

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

In accordance with paragraph 3.59 (a) of the JSE Listings Requirements, shareholders are advised of the appointment of Ms Nonhlanhla Sylvia Mjoli-Mncube as an independent non-executive director to the Board of Absa Group with effect from 15 October 2020. Nonhlanhla will serve on the Absa Group Social and Ethics Committee and the Board Finance Committee.

Nonhlanhla attended the Massachusetts Institute of Technology and Aspen Global Leadership Institute, USA, and holds a master's degree (Urban and Regional Planning) from the University of Cape Town and a post-graduate certificate in Engineering Business Management from Warwick University (UK).

She is the former economic advisor to the Presidency, former chairman of the National Urban Reconstruction and Housing Agency and former deputy chair of the Construction Industry Development Board. Nonhlanhla serves on the board and audit committee of Zeder Investment Limited and has previously served on the boards of several other listed companies including Capitec Bank, WBHO Construction, Cadiz Financial Services, Tongaat Hulett and Pioneer Foods.

Johannesburg

13 October 2020

Enquiries:

Nadine Drutman (Group Company Secretary)

[e-mail]

Tel: [phone]

Independent lead sponsor to Absa Group:

J.P. Morgan Equities South Africa Proprietary Limited

Joint sponsor to Absa Group:

Corporate and Investment Bank, a division of Absa Bank Limited