Standard Bank Group Limited · JSE:SBK
Standard Bank — Investor Day (March 2026)
126 slides from Standard Bank's investor day presentation, Mar 26, 2026
Slide 1: Capital Markets Day 26 March 2026
CAPITAL MARKETS DAY 26 MARCH 2026
Slide 2: Agenda
Agenda 13:00 – 13:05 Welcome Adam Ikdal 13:05 – 13:35 Strategy update Sim Tshabalala 13:35 – 13:55 Corporate & Investment Banking Luvuyo Masinda 13:55 – 14:15 Business & Commercial Banking Bill Blackie 14:15 – 14:35 Personal & Private Banking Funeka Montjane 14:35 – 14:55 Insurance & Asset Managemen
Slide 3: Strategy update
STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 STRATEGY UPDATE | SIM TSHABALALA 3
Slide 4: SBG today, Opportunities, Strategy 2028, Targets, Key takeaways
01 02 03 04 05 SBG TODAY OPPORTUNITIES STRATEGY 2028 TARGETS KEY TAKEAWAYS STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 STRATEGY UPDATE | SIM TSHABALALA 4
Slide 5: Africa is our home. We drive her growth.
Africa is our home. We drive her growth. Past Present Future To 2020 2021 - 2025 2026 - 2028 2029+ Built a strong Executed with purpose, Medium-term Long-term foundation kept our promises Accelerating Africa’s undisputed Africa’s growth financial leader STANDARD BANK GROUP CAPITAL MARKETS DAY | MARC
Slide 6: We are the largest African franchise with a proven track record
SBG today Opportunities Strategy 2028 Targets Key takeaways We are the largest African franchise with a proven track record Largest Unmatched Compounding financial services group in Africa footprint and reach shareholder value creation Total assets Total shareholder value added1 Rtrn 163 21 20m 50k
Slide 7: Our large and diversified portfolio provides resilience
SBG today Opportunities Strategy 2028 Targets Key takeaways Our large and diversified portfolio provides resilience Headline earnings by business unit1 Group headline earnings by region Rbn Rbn Insurance & Asset Management Offshore and other Personal & Private Banking Africa Regions CAGR CAGR Busine
Slide 8: We met or exceeded our financial targets
SBG today Opportunities Strategy 2028 Targets Key takeaways We met or exceeded our financial targets 2020 2025 2020 Actual 2025 Targets 20252025 Actual Actual Targets Actual Revenue growth 7% – 9% 11% 2020/25 CAGR 2020/25 CAGR Cost-to-income ratio 59.1% Approaching 50% 50.2% Credit loss ratio 151bps
Slide 9: Four structural themes shape the opportunities in Africa
SBG today Opportunities Strategy 2028 Targets Key takeaways Four structural themes shape the opportunities in Africa Rapid economic Large Growing and Evolving financial growth and infrastructure needs diversified trade services landscape demographic and capital flows dividend STANDARD BANK GROUP C
Slide 10: Rapid economic growth and demographic dividend
SBG today Opportunities Strategy 2028 Targets Key takeaways Rapid economic growth and demographic dividend 2 The opportunity We are well-positioned to benefit Rapid growth in our markets… …drives SBG’s growth. Unmatched on-the-ground presence in Real GDP growth 1 % 21 countries in Africa 4.6 4.4 4.2
Slide 11: Large infrastructure needs
SBG today Opportunities Strategy 2028 Targets Key takeaways Large infrastructure needs The opportunity We are well-positioned to benefit Deep sector expertise in Energy, 1 Infrastructure and Sustainable Finance $170bn Total infrastructure investment needed per year1 2 Large balance sheet and access
Slide 12: Growing and diversified trade and capital flows
SBG today Opportunities Strategy 2028 Targets Key takeaways Growing and diversified trade and capital flows The opportunity We are well-positioned to benefit Africa’s trade diversifying % Broad footprint in Africa, supported by expansive 1 global footprint and strategic partnership with ICBC Africa
Slide 13: Evolving financial services landscape
SBG today Opportunities Strategy 2028 Targets Key takeaways Evolving financial services landscape A changing landscape presents new challenges Our competitive advantages Growing payments Scale ecosystem 1 Market-leading franchise built over 163 years Convergence Rise of of financial digital-first se
Slide 14: Executing our strategy through a business unit-led model
SBG today Opportunities Strategy 2028 Targets Key takeaways Executing our strategy through a business unit-led model Our purpose Africa is our home, we drive her growth Our strategy To compete and win in our chosen markets and segments Opportunities Africa’s rapid economic growth Africa’s large Afri
Slide 15: The themes underpinning our plans
SBG today Opportunities Strategy 2028 Targets Key takeaways The themes underpinning our plans Revenue growth Cost management Drive Deepen Improve Grow Invest Optimise transactions at relationships with collaboration the balance to scale or processes using the core clients both across the sheet in su
Slide 16: Business units focused on competing and winning in chosen markets
SBG today Opportunities Strategy 2028 Targets Key takeaways Our business units are focused on competing and winning in their chosen markets and segments 2028 financial targets Strategic focus areas Revenue growth ROE CAGR 2025/28 • Capture structural opportunities in Africa’s growth CIB • Grow in su
Slide 17: Operational excellence enables growth
SBG today Opportunities Strategy 2028 Targets Key takeaways Operational excellence enables growth Leading Technology Artificial Intelligence Payments platform evolution at scale value creation We have built a simplified, We are scaling We are advancing Payments modern, resilient and cloud- AI deeply
Slide 18: Three paths to growth: build, buy and partner
SBG today Opportunities Strategy 2028 Targets Key takeaways Three paths to growth: build, buy and partner Build Buy Partner Protect, streamline and continue Invest in Partner with international to grow our core franchises high growth markets banks and DFIs Deliberate focus on growing Invest in busin
Slide 19: We have an experienced management team
SBG today Opportunities Strategy 2028 Targets Key takeaways We have an experienced management team Sim Tshabalala Chief Executive, Arno Daehnke Standard Bank Group Chief Finance & Value Business units Management Officer Margaret Nienaber Chief Operating Officer Group Functions Group subsidiaries Sha
Slide 20: We have highly engaged teams
SBG today Opportunities Strategy 2028 Targets Key takeaways We have highly engaged teams R1 billion 64% +54 invested in our of vacancies Employee NPS well ahead of people’s growth filled internally global and African benchmarks A global employer of choice Recognised for excellence Awards 2025 STANDA
Slide 21: Committed to delivering our ambitious 2028 financial targets
SBG today Opportunities Strategy 2028 Targets Key takeaways We are committed to delivering our ambitious 2028 financial targets Core targets Supplementary targets 8% – 12% 7% – 10% <50% 70bps – 100bps Banking revenue HEPS CAGR1 Cost-to-income ratio Credit loss ratio CAGR1 18% – 22% >12.5% 45% – 60%
Slide 22: Key takeaways
SBG today Opportunities Strategy 2028 Targets Key takeaways Key takeaways 1 Starting from a position of strength 2 Opportunities are large 3 Strategy is clear 4 The management team has depth and capability to deliver 5 Targets are ambitious and credible STANDARD BANK GROUP CAPITAL MARKETS DAY | MARC
Slide 23: Corporate & Investment Banking
STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 CORPORATE & INVESTMENT BANKING | LUVUYO MASINDA 23
Slide 24: CIB today, Strategic focus areas, Targets, Key takeaways
01 02 03 04 CIB TODAY STRATEGIC FOCUS TARGETS KEY TAKEAWAYS AREAS STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 CORPORATE & INVESTMENT BANKING | LUVUYO MASINDA 24
Slide 25: A leading CIB franchise in Africa built around clients
CIB today Strategic focus areas Targets Key takeaways A leading CIB franchise in Africa built around clients West Africa South Total Revenue Africa Unmatched footprint, on-the-ground presence in % by Diversified by region region 21 African markets, linked to four key global financial centres (New Yo
Slide 26: Africa's leading bank for large corporates and institutions
CIB today Strategic focus areas Targets Key takeaways Africa’s leading bank for large corporates and institutions Sector coverage-led model Global markets Transaction banking Investment banking Revenue contribution 43% 35% 22% • Local market access connecting to key • Network reach connecting client
Slide 27: A franchise with significant, sustained progress since 2020
CIB today Strategic focus areas Targets Key takeaways A franchise with significant, sustained progress since 2020 Drivers of improved performance 2025 Delta1 CIB revenue peer comparison Rbn Diversified client franchise underpinning revenue growth R74.4bn 14% Revenue 5-year CAGR 74 80 8.52 70 Client-
Slide 28: Innovative solutions and thought leadership centred on client needs
CIB today Strategic focus areas Targets Key takeaways Innovative solutions and thought leadership centred on meeting evolving client needs Solutioning for client needs Digital experience 29 18 Available APIs AI use cases Joint financial advisor, Joint global coordinators, Unclaimed assets Sole MLA,
Slide 29: CIB 2028 | Delivering sustainable growth
CIB today Strategic focus areas 1 2 3 Targets Key takeaways CIB 2028 | Delivering sustainable growth Strategic focus areas Ambition Capture structural opportunities 1 in Africa’s next growth cycle Position CIB as Africa’s leading integrated corporate and Accelerate growth in high-growth markets 2 an
Slide 30: The next major global capital deployment cycle
CIB today Strategic focus areas 1 2 3 Targets Key takeaways The next major global capital deployment cycle Themes Africa opportunity size How we will do this • Expand offering including multi-product Focus on the energy $130-170bn ~$170bn solutions 1 and infrastructure Energy investment Infrastructu
Slide 31: Accelerate growth in high-growth markets and defend core markets
CIB today Strategic focus areas 1 2 3 Targets Key takeaways Accelerate growth in high-growth markets and defend leadership position in core markets Strategic aims African footprint with significant Scale & grow markets market share opportunity • Win primary banking mandates with large local corporat
Slide 32: Growth supported by disciplined credit and market risk management
CIB today Strategic focus areas 1 2 3 Targets Key takeaways Growth supported by disciplined credit and market risk management Credit discipline Market risk discipline Appropriate underwriting supports resilient asset quality Client-flow driven trading with low market risk Resilient credit performanc
Slide 33: Deliver market-leading financial performance, reaching R100bn revenue by 2028
CIB today Strategic focus areas Targets Key takeaways Deliver market-leading financial performance, reaching R100bn revenue by 2028 CIB 2028 targets Contributing to the Group’s medium-term targets We are well positioned to… Revenue growth CAGR 8% – 12% JAWS Positive Capture structural opportunities
Slide 34: Well-positioned to accelerate our leading position
CIB today Strategic focus areas Targets Key takeaways Well-positioned to accelerate our leading position Differentiated leading CIB franchise 1 Diversified with scale and demonstrable risk management capabilities tested through economic cycles Significant opportunities 2 Focused on local and global
Slide 35: Business & Commercial Banking
\S) Standard Bank BUSINESS __ & COMMERCIAL BANKING —< BILL BLACKIE CHIEF EXECUTIVE BUSINESS & COMMERCIAL BANKING
Slide 36: BCB today, Opportunities, Strategic focus areas, Targets
01 02 03 04 05 BCB TODAY OPPORTUNITIES STRATEGIC TARGETS KEY TAKEAWAYS FOCUS AREAS STANDARD BANK CAPITAL MARKETS DAY | MARCH 2026 36
Slide 37: Transaction-led franchise, driving sustainable, high-quality revenues and returns
BCB today Opportunities Strategic focus areas Targets Key takeaways Transaction-led franchise, driving sustainable, high-quality revenues and returns Resilient, high-quality earnings anchored Total Revenue Borrow in diversified transactional strength % 29% Largest SA business banking franchise by wi
Slide 38: Consistent execution has doubled earnings and returns since 2020
BCB today Opportunities Strategic focus areas Targets Key takeaways Consistent execution has doubled earnings and returns since 2020 Drivers of improved performance BCB Headline Earnings Rbn Deposits Safeguarding our client funds and ROE 19.4% 38.1% R514bn enabling transactional flows expanding NIM
Slide 39: Servicing two high-growth segments
BCB today Opportunities Strategic focus areas Targets Key takeaways Servicing two high-growth segments with different complexity and servicing demands PPB is a pipeline for Enterprise Enterprise is a pipeline for migration into Mid-tier Mid-tier is a pipeline for CIB Enterprise Mid-tier Categories R
Slide 40: Market dynamics and addressable revenue pools in Africa
BCB today Opportunities Strategic focus areas Targets Key takeaways Current market dynamics introduce opportunity, while significant addressable revenue pools provide growth headroom in Africa BCB Africa revenue pool opportunity1 Market themes R100bn R150bn R250bn 15% Africa’s rapid economic growth
Slide 41: BCB 2028 | Four clear strategic focus areas
BCB today Opportunities Strategic focus areas Targets Key takeaways BCB 2028 | Four clear strategic focus areas to deliver our priorities Strategic focus areas Ambition Enhance client experience 1 through competitive offerings suited to the local environment and client-specific needs Defend our lead
Slide 42: Enhance client experience
BCB today Opportunities Strategic focus areas 1 2 3 4 Targets Key takeaways Enhance client experience | Strengthening our transactional franchise through digitisation, capability and simplicity Digitisation Collections Client Channels Improved merchant offering Effective digital channels Digitised c
Slide 43: Connect clients
BCB today Opportunities Strategic focus areas 1 2 3 4 Targets Key takeaways Connect clients | Providing a differentiated offering for clients seeking expansion opportunities across and beyond Africa 1 International Flows 2 Offshore Offering 3 Structured Connections • Access to competitively-priced h
Slide 44: Connect clients | Delivering tangible client outcomes
BCB today Opportunities Strategic focus areas 1 2 3 4 Targets Key takeaways Connect clients | Delivering tangible client outcomes through structured connectivity opportunities We organise a broad range of networking events across Africa… … and provide unrivalled access to the Chinese market >60 Clie
Slide 45: Fuel client growth
BCB today Opportunities Strategic focus areas 1 2 3 4 Targets Key takeaways Fuel client growth | Disciplined lending growth supported by improved risk analytics and enhanced processes Successfully reduced the 2028 Priorities risk profile of our book Diversify risk profile through deliberate and resp
Slide 46: Digitise & simplify
BCB today Opportunities Strategic focus areas 1 2 3 4 Targets Key takeaways Digitise & simplify | Driving operational leverage through technology and platform simplification Invest… …to enhance client experience Targeted investment in technology, Leverage AI for the 2028 outcomes people & infrastruc
Slide 47: A durable earnings model capable of sustaining >35% ROE
BCB today Opportunities Strategic focus areas Targets Key takeaways A durable earnings model capable of sustaining >35% ROE ROE BCB 2028 Targets 38% 35% - 40% Revenue growth 7% – 9% CAGR Cost-to-income ratio ~55% 2025 Endowment Enhance client Fuel Digitise 2028 ROE target range experience client & &
Slide 48: Key takeaways
Key takeaways Strong SA Mid-tier position, with growing Enterprise franchise 1 Strong deposit core and recurring transaction franchise underpin earnings quality Favourable market opportunities 2 Significant revenue pools across presence markets with attractive upside in the East and West regions Dri
Slide 49: Personal & Private Banking
5) Standard Bank PERSONAL & PRIVATE BANKING FUNEKA MONTJANE CHIEF EXECUTIVE PERSONAL & PRIVATE BANKING
Slide 50: PPB today, Opportunities, Strategic focus areas, Targets
01 02 03 04 05 PPB TODAY OPPORTUNITIES STRATEGIC TARGETS KEY TAKEAWAYS FOCUS AREAS STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 PERSONAL & PRIVATE BANKING | FUNEKA MONTJANE 50
Slide 51: PPB at a glance
PPB today Opportunities Strategic focus areas Targets Key takeaways PPB at a glance Total Revenue Borrow Growing client base of 16.6 million clients % 42% Large footprint across 15 countries and by 2 offshore hubs Product 58% Diversified revenue streams across banking, insurance, investments and val
Slide 52: Significant strategic progress since our 2021 Investor Day
PPB today Opportunities Strategic focus areas Targets Key takeaways Significant strategic progress since our 2021 Investor Day Drivers of improved performance PPB Headline Earnings Rbn 12.7m → 16.6m 4 million more clients chose to bank with us ROE 5.3% 23.3% Active clients 2020 to 2025 Accelerated c
Slide 53: Full service offering to Personal and Private clients
PPB today Opportunities Strategic focus areas Targets Key takeaways Full service offering to Personal and Private clients Personal banking creates a pipeline for migration into private banking Leading Personal Private client experience Low to Middle-income Affluent & HNW from early entrants into ban
Slide 54: Substantial opportunities across all our markets
PPB today Opportunities Strategic focus areas Targets Key takeaways Substantial opportunities across all our markets Market themes PPB revenue pool opportunity across the continent1 Africa's growing and diversified trade and capital flows R280bn R170bn R450bn 12% Personal Private Total PPB PPB marke
Slide 55: PPB 2028 | Three clear strategic focus areas
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways PPB 2028 | Three clear strategic focus areas for PPB Ambition Strategic focus areas Drive client engagement by improving our client experience and expanding the transactional 1 client base, increasing digital penetration and d
Slide 56: Client engagement | Deepen client relationships and engagement
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Client engagement | Deepen client relationships and engagement Net fee and commission income 2028 priorities Customer acquisition • Deliver top tier customer experience giving clients a reason to join and stay 18000 >10% • Est
Slide 57: Client engagement | Increase personalisation and digital engagement
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Client engagement | Increase personalisation and digital engagement Personalisation1 Digital engagement1 Digital clients are more engaged, more loyal and more profitable Client entrenchment score2 Daily and weekly active users
Slide 58: Client engagement | Drive >10% GWP through collaboration with IAM
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Client engagement | Drive >10% GWP through collaboration with IAM Expanding insurance contribution 2028 priorities Insurance revenue recognised in PPB Leverage banker and advisor partnership to sell insurance Rbn and investmen
Slide 59: Support our clients through the cycle | Disciplined growth
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Support our clients through the cycle | Disciplined growth Loans and advances 2028 priorities Rbn Maintain #1 Home Services market share position1 and leading share of Card SA Mortgage profit pool2 while protecting ROE Persona
Slide 60: Invest and optimise | Accelerate capability builds
PPB today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Invest and optimise | Accelerate capability builds • Increase the number of Universal Bankers and Relationship managers Operational • Smaller points of representation in high density locations optimisation Lower cost per clien
Slide 61: Drivers of delivery supported by 2028 priorities
PPB today Opportunities Strategic focus areas Targets Key takeaways Drivers of delivery supported by 2028 priorities ROE PPB 2028 Targets 26% - 30% Revenue growth 7% – 9% CAGR 23.3% Cost-to-income ratio <55% ROE target range 2025 Drive client Support clients Invest 2028 acquisition & through & 26% –
Slide 62: Key takeaways
PPB today Opportunities Strategic focus areas Targets Key takeaways Key takeaways Demonstrable track record of delivery 1 Strong existing momentum reflected in client growth, increased engagement and entrenchment; and double-digit net fee and commission growth in South Africa since 2022 Attractive o
Slide 63: Insurance & Asset Management
STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 INSURANCE & ASSET MANAGEMENT | YURESH MAHARAJ 63
Slide 64: IAM today, Opportunities, Strategic focus areas, Targets
01 02 03 04 05 IAM TODAY OPPORTUNITIES STRATEGIC TARGETS KEY TAKEAWAYS FOCUS AREAS STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 INSURANCE & ASSET MANAGEMENT | YURESH MAHARAJ 64
Slide 65: Established franchise with scale
IAM today Opportunities Strategic focus areas Targets Key takeaways Established franchise with scale Open Credit Life Market3 & Funeral (bank distributed) Established South African insurance business, providing a full spectrum of products via open market IAM 2025 snapshot R13.8bn 6.2 Insurance – Ope
Slide 66: IAM ROE has doubled since 2022
IAM today Opportunities Strategic focus areas Targets Key takeaways IAM ROE has doubled since 2022 IAM Headline Earnings Drivers of improved performance Rbn >65% Investment outperformance STANLIB retail funds in top 2 quartiles and Award-winning DFM1 ROE 10.5% 22.1% +16% Short-term insurance profita
Slide 67: Creating client value through integrated banking, insurance and investment solutions
IAM today Opportunities Strategic focus areas Targets Key takeaways Creating client value through integrated banking, insurance and investment solutions ing Met k by Market themes Clients want a single Ban IA by M trusted financial t Africa’s growing and diversified trade and capital flows partner
Slide 68: Growth anchored in South Africa and select African markets
IAM today Opportunities Strategic focus areas Targets Key takeaways Growth anchored in South Africa and select African markets Insurance & Asset Management market opportunity1 Market themes Insurance (GWP) Asset Management (Financial Wealth2) Rbn Rtrn Africa’s growing and diversified trade and capi
Slide 69: IAM 2028 | Growth driven by collaboration and open-market expansion
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways IAM 2028 | Growth driven by collaboration and open-market expansion Strategic focus areas Ambition Closer collaboration with banking to improve penetration and entrenchment of IAM 1 products in banking client base, and Defend
Slide 70: Closer collaboration with banking
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Closer collaboration with banking | Growth opportunity to deepen penetration into banking client base across insurance and investments How we will do this 2028 outcomes Leverage lower acquisition costs as a competitive advanta
Slide 71: Bank-distributed premiums on simple risk and short-term products
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Closer collaboration with banking | Insurance – Bank-distributed premiums on simple risk and short-term products to grow at >10% Gross written premiums CAGR 2025/28 16 >10% PPB balance sheet >R13.5bn 14 >>>10% 12 >10% >10% Key
Slide 72: The simple life insurance opportunity
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Closer collaboration with banking | The simple life insurance opportunity Affordability adjusted penetration1 Market new business growth Brand & Advice IP Distribution R40k+ R25 - R40k R15 - R25k Low penetration R8 - R15k Bank
Slide 73: Grow in Open Market
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Grow in Open Market | Scaled distribution and holistic offering advantages drive insurance growth and AUM How we will do this 2028 outcomes >10%1 Increase distribution manpower and productivity enabled 1 SA Indexed premium CAG
Slide 74: Grow Asset Management
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Grow Asset Management | Turn credible investment performance into continued positive client flows 1 AUM & AUA Material Drivers1 HE (2025) Growth Opportunity R1.75trn Wealth Melville Douglas 325 R250m Increased entrenchment in
Slide 75: Integrated investment capabilities driving client value
IAM today Opportunities Strategic focus areas 1 2 3 Targets Key takeaways Integrated investment capabilities driving client value and shareholder returns Advice Administration Solutions Asset management Distribution Platform Performance Simplified Experience Breadth of Wide range Superior Technology
Slide 76: Double digit earnings growth with top quartile ROE
IAM today Opportunities Strategic focus areas Targets Key takeaways Deliver shareholder value through double digit earnings growth with top quartile ROE ROE IAM 2028 Targets 24% - 27% Asset Management >10% CAGR Headline earnings growth Insurance 22% 24% - 27% ROE target range 2025 From 2026 onwards
Slide 77: Key takeaways
IAM today Opportunities Strategic focus areas Targets Key takeaways Key takeaways Established and integrated 1 Advice-led, multi-channel distribution at scale (tied / SBFC / IFA / bank / digital) combined with integrated manufacturing across insurance, investments and asset management Large and attr
Slide 78: Technology, AI & Payments
\) Standard Bank TECHNOLOGY, “A Al & PAYMENTS 33% MARGARET NIENABER CHIEF OPERATING OFFICER STANDARD BANK GROUP
Slide 79: Pioneering the next phase of growth through Technology, AI and Payments
Pioneering the next phase of growth through our leading Technology platform, AI evolution at scale and Payments value creation. STANDARD BANK GROUP CAPITALCAPITAL MARKETSMARKETS DAY | MARCH DAY | MARCH 2026 2026 TECHNOLOGY, AI & PAYMENTS | MARGARET NIENABER 79
Slide 80: One operating model
One operating model Four business units. Integrated through common capabilities CIB BCB PPB IAM Single Technology platform with integrated core capabilities (e.g. Cloud, Simplification, Modernisation, AI, Cyber, Technology Culture, Architecture, Data Platforms) SIMPLICITY Strong operations capabilit
Slide 81: The next phase of our growth is built on three pillars
The next phase of our growth is built on three pillars Leading Technology Artificial intelligence Payments platform evolution at scale value creation Driving revenue growth and Scaling AI deeply and Advancing Payments as a Aim operational efficiency responsibly to reimagine client strategic enabler
Slide 82: Leading Technology Platform
01 LEADING TECHNOLOGY PLATFORM Driving structural operating leverage and enabling our strategic focus areas. STANDARD BANK GROUP CAPITALCAPITAL MARKETSMARKETS DAY | MARCH DAY | MARCH 2026 2026 TECHNOLOGY, AI & PAYMENTS | MARGARET NIENABER 82
Slide 83: Structural operating leverage delivered through Technology
Leading Technology platform AI evolution at scale Payments value creation We’ve delivered structural operating leverage through Technology Revenue generated per unit of Technology spend Key drivers of improved performance 7,97 44% → 71%2 7,51 7,08 7,08 7,18 Migrated to the cloud Public cloud compute
Slide 84: Priorities to 2028 | Our leading Technology platform
Leading Technology platform AI evolution at scale Payments value creation Priorities to 2028 | Our leading Technology platform Modern Technology systems Leading Technology talent Cloud scale Critical engineering capability • Scaled cloud migration across footprint, with hyperscalers • Engineers usin
Slide 85: Artificial Intelligence Evolution at Scale
Visible AI 10% 02 ARTIFICIAL Technology INTELLIGENCE Foundation 30% EVOLUTION AT SCALE People and Processes 60% To drive purposeful innovation and enable decisive, deliberate action building our long-term competitive advantage, whilst embedding responsible AI across client journeys and core processe
Slide 86: Foundational progress to scale AI
Leading Technology platform AI evolution at scale Payments value creation Foundational progress to scale AI Machines performing tasks that typically require human intelligence Artificial intelligence Systems that learn from data to improve predictions and decisions Machine learning Neural networks i
Slide 87: Priorities to 2028 | SBG AI blueprint
Leading Technology platform AI evolution at scale Payments value creation Priorities to 2028 | SBG AI blueprint Scaling AI to drive revenue growth, productivity uplift and structural operating leverage Clients People and Culture Technology Platform with Hyperscalers Deliver more relevant and persona
Slide 88: Payments Value Creation
03 PAYMENTS VALUE CREATION Our vision is to build trusted, seamless and modern Payment services, connecting Africa to the world. To transfer financial value simply, instantly and securely, aligned with our clients’ needs, to enable deeper entrenchment, cross-sell and share of wallet and grow our tra
Slide 89: Payments are at the heart of every banking relationship
Leading Technology platform AI evolution at scale Payments value creation Payments are at the heart of every banking relationship Strategic relevance Market is evolving faster due to • Anchor client experience and primacy technological and regulatory advancements • Capital-light and liquidity accret
Slide 90: R164trn in payments processed across 20m clients
Leading Technology platform AI evolution at scale Payments value creation In 2025, over R164trn in payments 1 were processed across 20m clients 1 Including interbank and correspondent banking relationships STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 TECHNOLOGY, AI & PAYMENTS | MARGARET NIEN
Slide 91: Payments driving ROE | Domestic & International
Leading Technology platform AI evolution at scale Payments value creation Payments driving ROE | Domestic & International Halo Long-term strategic value - 33% >R28bn Client primacy, loyalty and Growth in PPB SA VAS Disbursed to clients in multi-product upsell. VAS, income YoY insurance claims in 202
Slide 92: Priorities to 2028 | Building on a solid foundation
Leading Technology platform AI evolution at scale Payments value creation Priorities to 2028 | Building on a solid foundation 1. Domestic Payment Advantage 2. Cross-Border Diversification 3. Digital Assets3 Opportunity Winning in the day-to-day Securing client preference Capturing real-time, low-cos
Slide 93: Key takeaways
Key takeaways Leading Technology Artificial Intelligence Payments platform evolution at scale value creation We have built a simplified, We are scaling We are advancing Payments modern, resilient and cloud- AI deeply and as a strategic enabler based Technology platform responsibly across the Group d
Slide 94: Financial Outlook
STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 FINANCIAL OUTLOOK | ARNO DAEHNKE 94
Slide 95: SBG 2025, SBG 2028, Capital allocation, Key takeaways
01 02 03 04 SBG 2025 SBG 2028 CAPITAL ALLOCATION KEY TAKEAWAYS STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 FINANCIAL OUTLOOK | ARNO DAEHNKE 95
Slide 96: SBG 2025
SBG 2025
Slide 97: SBG 2025 | Robust headline earnings growth and ROE at top end of target
SBG 2025 SBG 2028 Capital allocation Key takeaways SBG 2025 | Robust headline earnings growth and ROE at the top end of target range Headline earnings Return on equity Rbn % 60.0 Pre-Covid Post-Covid Pre-Covid Post-Covid CAGR 2015/19 CAGR 2022/25 19.3 50.0 +13% 49.2 ROE 15.6 40.0 33.9 COE +6% 28.2 1
Slide 98: SBG 2025 | Strong revenue growth, improved efficiency, disciplined risk
SBG 2025 SBG 2028 Capital allocation Key takeaways SBG 2025 | Delivered strong and diversified revenue growth, improved efficiency and maintained disciplined risk management Revenue growth Cost-to-income ratio Credit loss ratio Banking Banking Banking Rbn CAGR 2020/25 % bps +11% 169 36% 59.1% 151 11
Slide 99: SBG 2028
SBG 2028
Slide 100: SBG 2028 | Focus on growth, while further increasing ROE
SBG 2025 SBG 2028 Capital allocation Key takeaways SBG 2028 | Focus on growth, while further increasing ROE Core financial targets 8% – 12% 18% – 22% HEPS growth1 ROE target range2 Underpinned by disciplined execution Growth-led strategy with clear nu e ris k-r Op Disciplined risk appetite revenue a
Slide 101: Macroeconomic Outlook
SBG 2025 SBG 2028 Capital allocation Key takeaways Macroeconomic Outlook | Supportive and growth is expected to remain resilient, a key underpin of the group’s growth outlook Lower average interest rates1 Lower average inflation1 Higher average real GDP growth1 8.4% 8% 7.1% average 2026/28 6% 6% 5.3
Slide 102: Sovereign Risk | Expected to decline across our portfolio
SBG 2025 SBG 2028 Capital allocation Key takeaways Sovereign Risk | Expected to decline across our portfolio Debt-to-GDP ratios moderate Credit Ratings set to improve Bond yields decline 104% 16.5% Ba1 96% 12.6% Ba2 10.3% 77% 78% B1 B1 8.2% 65% 62% B2 4.6% 4.1% B3 20242025 2025202620262027 202720282
Slide 103: Banking Revenue | Focus on growing capital-light revenues
SBG 2025 SBG 2028 Capital allocation Key takeaways Banking Revenue | Focus on growing capital-light revenues Banking revenue by type Banking revenue by region By type By region Rbn CAGR 2025/28 Rbn 7% - 10% Africa Regions to grow faster than South Africa 8% - 12% Offshore 6% - 8% 169 Africa Regions
Slide 104: Net Interest Income | Driven by robust balance sheet growth
SBG 2025 SBG 2028 Capital allocation Key takeaways Net Interest Income | Driven by robust balance sheet growth, particularly deposits NII growth boosted by fast growing and high margin Deposits growing faster than loans business in Africa Regions Rbn Rbn Loans to customers Deposits from customers Ne
Slide 105: Non-Interest Revenue | Growth of diversified capital-light streams
SBG 2025 SBG 2028 Capital allocation Key takeaways Non-Interest Revenue | Growth of diversified capital-light NIR streams NIR composition NIR drivers By type Rbn CAGR 2025/28 Fees & commission 8% - 12% • Client primacy and entrenchment to drive volume-related fees • Expanded set of adjacent products
Slide 106: Operating Expenses | Invest and optimise
SBG 2025 SBG 2028 Capital allocation Key takeaways Operating Expenses | Invest and optimise Operating expenses growth Operating expenses growth to support key Operating expenses investments to grow the client franchise Rbn CAGR 2025/28 Incremental investments 6% - 8% • Customer acquisition capacity
Slide 107: Credit Impairments | Receding sovereign risk
SBG 2025 SBG 2028 Capital allocation Key takeaways Credit Impairments | Receding sovereign risk and CLR to be in the lower half of TTC1 range Credit impairment charges aligned to lending growth Drivers Credit impairments Credit impairments Rbn 5% - 8% • Financial investment-related charges are subje
Slide 108: Insurance & Asset Management | Continued upward earnings trajectory
SBG 2025 SBG 2028 Capital allocation Key takeaways Insurance & Asset Management | Continued upward earnings trajectory Earnings growth in excess of 10% p.a. Drivers IAM Headline Earnings Rbn Closer collaboration with banking CAGR 2025/28 • Leverage lower acquisition costs to price competitively >10%
Slide 109: SBG ROE | Firmly in the 18% - 22% range
SBG 2025 SBG 2028 Capital allocation Key takeaways SBG ROE | Firmly in the 18% - 22% range All businesses deliver positive contributions, capital buffers held centrally Positive ROE momentum in all regions ROE % Change in ROE by business unit Change in ROE by region 19.3% 2025 CIB BCB PPB IAM Centra
Slide 110: Capital Allocation
CAPITAL ALLOCATION
Slide 111: Investing in Africa | History of active capital management
SBG 2025 SBG 2028 Capital allocation Key takeaways Investing in Africa | History of active capital management Disciplined capital allocation into Africa that supports growth, A combined distribution strategy that balances growth returns and diversification with delivering returns for shareholders Rb
Slide 112: Growth and Distributions | Maintain balance to drive shareholder value
SBG 2025 SBG 2028 Capital allocation Key takeaways Growth and Distributions | Maintain balance to drive shareholder value 1 Earnings Continue to focus on scaling and diversifying capital-efficient earnings 2 Capital for growth Capital retained for organic Capital retained for • Organic growth to del
Slide 113: Active Capital Allocation | Leverage growth and investment opportunities
SBG 2025 SBG 2028 Capital allocation Key takeaways Active Capital Allocation | Leverage growth and investment opportunities Key takeaways Our market position1 Comprehensive, client-led market analysis to identify growth and investment opportunities to inform capital allocations Limited that will del
Slide 114: Group Cost of Equity | Reflective of a diversified portfolio
SBG 2025 SBG 2028 Capital allocation Key takeaways Group Cost of Equity | Reflective of a diversified portfolio Regional Regional Group Africa Regions COE Africa Regions has delivered strong and NAV COE COE sustainable growth in ZAR earnings over time, % % demonstrating the quantifiable benefit of m
Slide 115: Key Takeaways
KEY TAKEAWAYS
Slide 116: Business Unit Overview | Strong growth, improving operating leverage
SBG 2025 SBG 2028 Capital allocation Key takeaways Business Unit Overview | Strong growth, improving operating leverage and higher ROE 2028 Financial Targets Revenue growth CTI ROE CAGR 2025/28 Target Target range ~40% 22% – 24% CIB 8% – 12% (2025: 43%) (2025: 22%) ~55% 35% – 40% BCB 7% – 9% (2025:
Slide 117: Driving Value | Focus on growth, whilst further improving ROE
SBG 2025 SBG 2028 Capital allocation Key takeaways Driving Value | Focus on growth, whilst further improving ROE Core metrics 2019 2025 2026-2028 Regional headline earnings contribution by 2028 HEPS (CAGR) 6% 25% 8% – 12% (2015/19) (2020/25) (2025/28) ROE 16.8% 19.3% 18% – 22% Supplementary metrics
Slide 118: Shocks and Market Disruptions | Demonstrated strength and adaptability
SBG 2025 SBG 2028 Capital allocation Key takeaways Shocks and Market Disruptions | We have consistently demonstrated our strength and adaptability in the face of challenges US tariff CBOE Volatility Index® (VIX Index)1 announcements Gulf Asian Russian Global US debt Covid-19 US tariff financial fina
Slide 119: SBG 2028 | Uniquely positioned to capture trends driving Africa's growth
SBG 2025 SBG 2028 Capital allocation Key takeaways SBG 2028 | Uniquely positioned to capture trends driving Africa’s growth Strong track record of delivery despite volatility 1 High-quality, sustainable and diversified revenue streams and positive operating leverage Drive client-led growth 2 Strong,
Slide 120: Disclaimer
Disclaimer Forward-looking statements The Group may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to
Slide 121: Biographies
BIOGRAPHIES STANDARD BANK GROUP CAPITAL MARKETS DAY | MARCH 2026 STRATEGY UPDATE | SIM TSHABALALA 121
Slide 122: Simpiwe Tshabalala and Arno Daehnke
SIMPIWE ARNO TSHABALALA DAEHNKE Chief Executive Chief Finance and Value Management Officer Standard Bank Group Standard Bank Group QUALIFICATIONS: QUALIFICATIONS: BA, LLB (Rhodes University), LLM (University of Notre Dame, summa cum laude), BSc, MSc Engineering (University of Cape Town), PhD (Vienna
Slide 123: Luvuyo Masinda and Bill Blackie
LUVUYO BILL MASINDA BLACKIE Chief Executive | Corporate & Investment Banking Chief Executive | Business & Commercial Banking Standard Bank Group Standard Bank Group QUALIFICATIONS: QUALIFICATIONS: BCom (Hons) (Accounting) (University of Natal), CA (SA) B.Com (Rhodes University), LLB (Rhodes Universi
Slide 124: Funeka Montjane and Yuresh Maharaj
FUNEKA YURESH MONTJANE MAHARAJ Chief Executive | Personal & Private Banking Chief Executive | Insurance & Asset Management Standard Bank Group Standard Bank Group QUALIFICATIONS: QUALIFICATIONS: BCom (Hons) (Wits), MCom (UJ), CA (SA) BCom Honours (University of Natal), BCom Accounting (University of
Slide 125: Margaret Nienaber and Adam Ikdal
MARGARET ADAM NIENABER IKDAL Chief Operating Officer Chief Strategy Officer Standard Bank Group Standard Bank Group QUALIFICATIONS: QUALIFICATIONS: BCompt (Hons) (University of the Free State), CA (SA), MSC (Strategy and Finance) (Norwegian School of Economics), Bachelor in Business High-Performance
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