Slide 1: Pre-close investor update
Pre-close investor update 02 December 2025
Slide 2: Where did the group guide and how is it tracking?
2 Where did the group guide and how is it tracking? • Earnings guidance provided in September remains intact • With the UK motor commission provision in the base, normalised earnings growth will trend up into the high mid teens • ROE in the target range of 18% to 22%
Slide 3: Improving SA macros supportive of strong operational performance
3 Improving SA macros supportive of strong operational performance • Momentum in structural reforms and sovereign rating upgrade are positive developments • Inflation has continued to moderate, allowing for 2 interest rate cuts – 25bps in July and November, respectively • Economic activity has conti
Slide 4: Full year guidance remains intact
4 Full year guidance remains intact Non-interest revenue in line with guidance • Private equity realisations remain on track • Resilient net fee and commission income • Recovery in trading income in line with expectations • Good momentum in insurance Net-interest income trending in line with expecta
Slide 5: Full year guidance remains intact
5 Full year guidance remains intact Impairments remain at the bottom-end of the TTC range: • Retail credit experience is improving • Commercial credit remains stable, with front book strain from SME focus • Benign large corporate credit experience • Aldermore is normalising into TTC range due to: •
Slide 6: UK Motor commission update
6 UK Motor commission update • FCA has extended the deadline for submission to the published consultation paper (CP) to 12 December 2025 • The group has engaged experienced legal advisors and economic specialists to advise on responses to the CP • Our view remains that the scheme has moved materiall
Slide 7: Strategic relationship will unlock benefits for FirstRand and Optasia
7 Strategic relationship will unlock benefits for FirstRand and Optasia • Opportunity to leverage a proven fintech lending platform, focused on unbanked and underbanked customers in growing emerging markets • A commercial agreement and board representation will unlock value for both parties • Benefi
Slide 8: In conclusion
8 In conclusion • FirstRand's customer franchises are in good health, operationally resilient and strategies are tracking as expected • On the back of this, the group is on track to deliver solid earnings growth and returns to shareholders, in line with guidance • No further UK motor provision facto