Slide 1: Results Presentation
RESULTS PRESENTATION for the year ended 30 June 2025
Slide 2: Operating Environment
OPERATING ENVIRONMENT for the year ended 30 June 2025
Slide 3: Global policy and macroeconomic conditions characterised by ongoing uncertainty
Global policy and macroeconomic conditions characterised by ongoing uncertainty 3 Global Economic Policy Uncertainty Index 10-year yields (YTM) (%) 700 5.0 14.0 600 12.0 4.0 500 10.0 3.0 8.0 400 2.0 6.0 300 1.0 4.0 200 2.0 0.0 100 0.0 -1.0 Jul-24 Jan-21 Jan-24 Jul-20 Jul-23 Jan-20 Jan-23 Jul-22 Jul-
Slide 4: Global uncertainty served as significant headwind to economic activity in SA
Global uncertainty served as significant headwind to economic activity in SA 4 Progression of real GDP growth expectations for 2025 and 2026 Household debt service to income ratio (% y/y) (% y/y) 2.2 14 13 12 2.0 11 10 9 8 1.8 7 6 5 1.6 4 2013 2019 2025 2012 2018 2024 2011 2017 2023 2010 2016 2022 2
Slide 5: Broader Africa: A mixed bag of reform tailwinds and macro headwinds
Broader Africa: A mixed bag of reform tailwinds and macro headwinds 5 Inflation rates of countries that faced Real GDP growth rates of countries that faced debt and/or reform debt and/or reform challenges challenges (%) (% y/y) 40 16 14 12 35 10 8 6 30 4 2 0 -2 25 -4 2010 2011 2012 2013 2014 2015 20
Slide 6: A challenging macro backdrop in the UK, with expectations for further interest rate easing
A challenging macro backdrop in the UK, with expectations for further interest rate easing 6 UK CPI UK real GDP growth rate (% y/y) (%) 12 10 3.0% 8 6 2.5% 4 2 0 2.0% Apr- May- Jun- Jul- Aug- Sept- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- 10 11 12 13 14 15 16 17 18 20 21 22 23 24 25 1.5% CPI UK
Slide 7: Unpacking Performance
UNPACKING PERFORMANCE for the year ended 30 June 2025
Slide 8: Key group performance metrics (normalised)
Key group performance metrics (normalised) 8 Net income after Normalised earnings Cost-to-income ratio cost of capital R41.8bn (2024: R38.0bn) p10% 50.8% (2024: 52.6%) q180 bps R11.6bn (2024: R10.4bn) p12% Return on assets Return on equity Net asset value 1.69% (2024: 1.63%) ▲6 bps 20.2% (2024: 20.1
Slide 9: Earnings performance relative to recent guidance
Earnings performance relative to recent guidance 9 Normalised earnings R million ▲10% 50 000 44 011 40 000 41 824 37 988 • Guidance in pre-close trading update: Low double-digit to mid-teens growth in earnings (excluding a new provision) 30 000 • The group’s strong operating performance would have d
Slide 10: Despite an additional UK provision raised, the group exceeded its long-term earnings growth target
Despite an additional UK provision raised, the group exceeded its long-term earnings growth target range and delivered superior ROE 10 Normalised earnings R million ROE % 25 50 000 20.6 21.1 20.1 20.2 18.4 20 40 000 p10% 41 824 37 988 36 634 32 663 15 30 000 26 551 20 000 10 10 000 5 – – 2021* 2022*
Slide 11: Excellent shareholder outcomes – strong growth in NAV and economic profit
Excellent shareholder outcomes – strong growth in NAV and economic profit 11 Net asset value (NAV) Economic profit* R billion R million p 12% 11 904 151.6 165.6 181.5 195.7 217.4 p 11% 11 566 10.9 p 25% 10 112 10 364 8.7 206.5 12.8 187.0 4.8 168.7 2.8 160.8 p 10% 148.8 4 857 2021** 2022 2023 2024 20
Slide 12: ROE improvement is supported by higher ROA with lower gearing
ROE improvement is supported by higher ROA with lower gearing 12 ROA p 6 bps to 1.69% year on year p 10 bps movement • Strong investment income growth in ROE to 20.2% • Improved operational leverage (2024: 20.1%) • Stable impairments R11.6bn NIACC Gearing multiple decreased to 12.0 times from 12.4 t
Slide 13: High-quality growth and returns from strong operational performances across a diversified portfolio
High-quality growth and returns from strong operational performances across a diversified portfolio 13 Normalised earnings Normalised earnings p8% p20% R23.6bn ROE: 37.4% R2.4bn ROE: 21.8% Reflects combined Aldermore and MotoNovo (UK operations) Normalised earnings Underlying earnings* p10% n R10.7b
Slide 14: Drivers of the group's structurally higher and sustainable ROE
Drivers of the group’s structurally higher and sustainable ROE 14 Strength of origination franchises Leading deposit franchise and capital-light NII Diversified sources of NIR
Slide 15: Origination philosophy and mix anchored to growth and risk-adjusted returns
Origination philosophy and mix anchored to growth and risk-adjusted returns 15 • Continue to pursue highest market share of good-quality credit and protect customer franchise whilst maintaining risk-adjusted returns through the cycle • Track record of disciplined allocation and pricing of capital, f
Slide 16: Diversified advances growth across customer segments and sectors
Diversified advances growth across customer segments and sectors 16 Core advances Gross advances growth y/y % y/y % FNB SA: WesBank: Agriculture Banks Other services Retail secured Retail VAF p 4% p 27% p 27% R282bn R124bn Financial institutions p 3% p 10% Transport and p 10% communication p 12% Ret
Slide 17: UK operations' origination anchored to protecting margins and improving risk-adjusted returns
UK operations’ origination anchored to protecting margins and improving risk-adjusted returns 17 Year on year Property Finance £ million New business p55% Amount disbursed on new business Advances p11% 160 140 120 Buy-to-let 100 80 Motor Finance 60 £ million 40 Owner-occupied Amount disbursed on new
Slide 18: Solid growth from RMB origination franchise plus optimisation activities
Solid growth from RMB origination franchise plus optimisation activities delivered uplift in margin and ROE 18 Core lending advances* R million 600 000 p 8% 500 000 p 1% 37 128 502 868 (34 157) 465 740 468 711 400 000 300 000 200 000 100 000 2025 — 2024 Net origination** Gross Distribution 2025 * In
Slide 19: Overall credit outcomes of origination approach
Overall credit outcomes of origination approach 19 • Origination thesis has played out with the credit loss ratio at the bottom of the group’s TTC range at 85 bps: – Retail CLR shifted back into its TTC range, with household pressures showing some signs of easing – Commercial’s CLR trended into the
Slide 20: Drivers of the group's structurally higher, and sustainable ROE
Drivers of the group’s structurally higher, and sustainable ROE 20 Strength of origination franchises Leading deposit franchise and capital-light NII Diversified sources of NIR
Slide 21: All deposit franchises grew strongly despite competitive environment
All deposit franchises grew strongly despite competitive environment 21 R million Broader Africa 600 000 SA retail: SA commercial: R427.6bn R498.9bn R268.9bn* R110.3bn 500 000 (p 9% 5-year CAGR) (p 12% 5-year CAGR) (p 8% 5-year CAGR) (p 10% 5-year CAGR) 400 000 300 000 200 000 100 000 — 2021 2022 20
Slide 22: Active FRM and management of structural interest rate risk supported margin expansion
Active FRM and management of structural interest rate risk supported margin expansion despite rate-cutting cycle 22 • Asset margins p 2 bps Excluding UK operations: • Deposits margins q 6 bps p 6 bps movement • Capital endowment including ALM strategies p 6 bps in group NIM to 501 bps • Group Treasu
Slide 23: Active management of endowment is delivering TTC benefit
Active management of endowment is delivering TTC benefit 23 Market-implied forward rates 7.71% 7.04% 6.88% 6.54% 6.25% ALM strategy outcomes: • Enhanced earnings with lower volatility Contribution of • Growth and margin ALM strategy stability • Protected earnings against rate cuts No ALM strategy (i
Slide 24: Drivers of the group's structurally higher, and sustainable ROE
Drivers of the group’s structurally higher, and sustainable ROE 24 Strength of origination franchises Leading deposit franchise and capital-light NII Diversified sources of NIR
Slide 25: Diversification of NIR created mitigation effect resulting in overall resilient growth
Diversification of NIR created mitigation effect resulting in overall resilient growth 25 Fee and commission Net insurance results income (adjusted for MotoVantage) R40 258m R4 462m p 6% p 10% Transaction volume +4% Trading and other Investing activities* Customer acquisition +2% fair value income K
Slide 26: Resilience of FNB's fee and commission income driven by customer growth
Resilience of FNB’s fee and commission income driven by customer growth 26 FNB SA retail R million 16 000 • Customer growth: 15 000 – q 1% in personal segment, due to attrition and migration to private 14 000 – p 7% in private segment, benefiting 13 000 from focus on main-banked strategy 2022 2023 2
Slide 27: The group will mine the opportunity set and mitigate risks from shifting payments landscape
The group will mine the opportunity set and mitigate risks from shifting payments landscape 27 Drivers: FirstRand is well positioned to respond, defend and attack: Behavioural shifts • Delivering a diversified payments solution set from consumers • Compelling real-time payments and wallet solutions
Slide 28: Strength of FNB's retail and commercial transactional franchises
Strength of FNB’s retail and commercial transactional franchises demonstrated in fee growth and volumes 28 Payments and transfers fees Cash R3 149m R4 063m p 13.4% p 1.7% Card eWallet R4 031m R681m p 4.1% p 8.2% Successful PayShap transactions Volumes in: Volumes out: p 521% p 446% Jun 23 Jun 24 Jun
Slide 29: RMB's quality IBD franchise generated R2.5bn of knowledge-based fees
RMB’s quality IBD franchise generated R2.5bn of knowledge-based fees = uplift to NIR 29 R million CAGR 16% 2 400 2 461 2 200 p18% 2 000 2 083 1 800 1 600 p43% 1 400 1 454 1 200 q4% p4% p26% 1 160 1 109 1 157 1 000 800 600 400 200 – 2020 2021 2022 2023 2024 2025
Slide 30: RMB benefited from strong realisations and stable annuity flows from PE portfolio
RMB benefited from strong realisations and stable annuity flows from PE portfolio 30 Private equity gross income New investments R million R0.3bn R1.0bn R2.0bn R1.5bn R2.6bn Unrealised value R4.4bn R5.9bn R5.7bn R6.6bn R8.0bn 3 500 3 000 2 500 p84% 2 000 1 500 1 000 p9% 500 – (500) 2021 2022 2023 20
Slide 31: Challenging year for RMB Global Markets impacted overall NIR growth
Challenging year for RMB Global Markets impacted overall NIR growth 31 PBT R million 2 500 • Performance impacted by: 2 328 – Challenging market conditions with low 2 000 inflation, particularly for fixed income – Deliberate strategy to derisk concentrated 1 602 sovereign exposures in broader Africa
Slide 32: Integrated insurance strategy a growing component of non-interest revenue
Integrated insurance strategy a growing component of non-interest revenue 32 In-force business APE R million CAGR 15% p12% 5 000 4 000 p1% 3 000 2 000 p8% p29% 1 000 p44% p10% — Core Life (incl. funeral) Underwritten Commercial Credit life FNB short-term FNB short-term – retail – commercial 2021 202
Slide 33: Solid growth in new business APE demonstrates level of runway
Solid growth in new business APE demonstrates level of runway 33 New business APE R million CAGR 16% 1 500 p5% 1 250 1 000 q9% 750 p13% 500 p65% q15% 250 q2% — Core Life (incl. funeral) Underwritten Commercial Credit life FNB short-term FNB short-term – retail – commercial 2021 2022 2023 2024 2025
Slide 34: Geographical mix supports medium-term profitability
Geographical mix supports medium-term profitability 34 Normalised earnings, with y/y % R million UK operations* UK operations** UK operations** p 12% p 34% q 8% Broader Africa p 43% Broader Africa Broader Africa 3 345 p 2% p 25% 4 490 4 114 4 141 5 249 5 157 2023 2024 2025 29 183 30 759 34 648 SA p
Slide 35: Broader Africa performance demonstrates strategy to build franchise value
Broader Africa performance demonstrates strategy to build franchise value 35 Retail and commercial Normalised earnings customers CashPlus agents R5.2bn (2024: R5.2bn) p2% 2.36m (2024: 2.20m) p7% 4 971 (2024: 4 325) p15% Net income after Return on equity cost of capital Credit loss ratio 23.0% (2024:
Slide 36: UK underlying performance in line with expectations as strategy execution continues
UK underlying performance in line with expectations as strategy execution continues 36 Underlying net interest Underlying PBT* Normalised PBT margin* £256m (2024: £252m) p2% £193m (2024: £253m) q24% 2.94% (2024: 3.01%) q 7bps Underlying return on Underlying credit loss target capital* Normalised ROE
Slide 37: Spotlight on strategies to lift growth and ROE further
Spotlight on strategies to lift growth and ROE further 37 SME and informal economy Corporate and enterprise banking
Slide 38: SME and informal economy presents significant growth strategy
SME and informal economy presents significant growth strategy 38 • Strategy focused on investing in SA’s emerging productive sector – enabling scalable, sustainable opportunities for economic participation particularly in current reform cycle • SME franchise is significant in size, and informal econ
Slide 39: Significant opportunity to scale corporate bank offering
Significant opportunity to scale corporate bank offering anchored to system growth given the macro cycle 39 Acquired corporate and multinational portfolio: • Advances: c.R15 billion • Corporate client advances: R152 billion • Deposits: R45 billion • Enterprise advances: R93 billion • Corporate clien
Slide 40: Increase in capital position reflects active FRM and capital management
Increase in capital position reflects active FRM and capital management 40 CET1 ratio* % 18 CET1 accretion: +135 bps 17 16 298 bps (173 bps) 15 10 bps (111 bps) 34 bps 14 14.0 13.5 13 12 CET1 internal target range: 11.5% to 12.5% 11 10 Jun 24 Earnings Ordinary Other** RWA Optimisation Jun 25 dividen
Slide 41: Strong CET1 and sustainable FRM actions support a lower dividend cover
Strong CET1 and sustainable FRM actions support a lower dividend cover 41 Times 2.30 2.20 2.10 2.00 1.8x to 2.2x 1.90 1.80 1.80 1.80 1.6x to 2.0x 1.71 1.71 1.71 1.70 1.70 1.70 1.63 1.60 1.60 1.50 1.40 Jun 16 Jun 17 Jun 18 Jun 19 Jun 21 Jun 22 Jun 23 Jun 24 Jun 25 Dividend cover (times) June 2020 exc
Slide 42: Financial Review
FINANCIAL REVIEW for the year ended 30 June 2025
Slide 43: Key performance metrics (normalised)
Key performance metrics (normalised) 43 2025 2024 % change Basic earnings per share (cents) 746.4 677.2 10 p Dividend per share (cents) 466 415 12 p Earnings (R million) 41 824 37 988 10 p NIACC (R million) 11 566 10 364 12 p Net asset value (R billion) 217.4 195.7 11 p Net interest margin (%) 4.52
Slide 44: Earnings growth driven by resilient topline, sustained cost containment and slowing credit emergence
Earnings growth driven by resilient topline, sustained cost containment and slowing credit emergence 44 Normalised earnings R million 50 000 ▲6% ▲2% 45 000 ▲6% ▲12% (1 593) ▲8% (1 489) 3 168 (1 376) ▲10% 5 126 40 000 Effective tax rate 41 824 (2025: 22.0%) (2024: 22.4%) 37 988 35 000 30 000 25 000 2
Slide 45: Impairments growth in line with expectations
Impairments growth in line with expectations and driven by commercial charge and normalisation of NOSIA base release in UK operations 45 Normalised earnings R million 50 000 p6% p2% 45 000 p6% p12% (1 593) p8% (1 489) 3 168 (1 376) p10% 5 126 40 000 Effective tax rate 41 824 (2025: 22.0%) (2024: 22.
Slide 46: CLR remains at the bottom of the TTC range
CLR remains at the bottom of the TTC range 46 8.25 8.25 8.25 7.75 4.3 4.4 4.3 4.0 3.8 7.25 Group excl. UK operations 100 – 130 bps 1.09 1.05 1.08 0.99 0.84 Group TTC 80 – 110 bps 0.78 0.83 0.81 0.84 0.85 0.88 (excl. NOSIA) Jun 23 Dec 23 Jun 24 Dec 24 Jun 25 Stage3/NPLs as a % of core lending advance
Slide 47: Resilient overall credit performance with appropriate coverage
Resilient overall credit performance with appropriate coverage 47 Credit loss ratio* Provision distribution and coverage Excl. NOSIA 1.10 Stage 1 Stage 2 Stage 3 Total TTC range 0.92 Core lending advances (R m) 1 510 443 114 075 74 484 1 699 002 0.85 Provisions (R m) 11 238 12 164 31 786 55 188 0.81
Slide 48: Credit performance benefits from diversification: Retail trending better
Credit performance benefits from diversification: Retail trending better 48 Advances and total coverage Impairment charge and CLR Retail* Retail* TTC range 1.70% – 2.10% R million q18% y/y R billion • Full year CLR 1.98% (June 2024: 2.24%) 2.54 p2% 6m 5.95% 6.00% 5.89% 1.99 1.98 • Rate cycle + lower
Slide 49: Credit performance benefits from diversification: Commercial in line with cycle
Credit performance benefits from diversification: Commercial in line with cycle and book growth, corporate continues to be benign 49 Advances and total coverage Impairment charge and CLR TTC range 0.80% – 1.20% Commercial* Commercial* p82% y/y R billion R million p59% 6m • Full year CLR 1.04% (June
Slide 50: Underlying operational credit performance positive despite NOSIA base effect
Underlying operational credit performance positive despite NOSIA base effect and book strain, bA resilient in light of market-specific challenges 50 Advances and total coverage Impairment charge and CLR p>100% y/y UK operations UK operations q45% 6m TTC range 0.30% – 0.50% £ billion £ million 0.14 •
Slide 51: Despite tough macroeconomic environment NPL formation slowing
Despite tough macroeconomic environment NPL formation slowing 51 NPLs R billion 18.2 4.7 p10% y/y p36% y/y Residential mortgages 19.1 RMB CIB* 6.3 p 5% 6m n 6m NPL%: 7% 20.1 NPL%: 1% 6.3 7.2 3.9 p1% y/y q 9% y/y WesBank VAF 7.0 Broader Africa 4.0 q11% y/y p 4% 6m q 11% 6m in ccy NPL%: 6% 7.3 NPL%: 4
Slide 52: Cost outcome reflects management's commitment to sustainable positive jaws
Cost outcome reflects managements commitment to sustainable positive jaws 52 Normalised earnings R million 50 000 p6% p2% 45 000 p6% p12% (1 593) p8% (1 489) 3 168 (1 376) p10% 5 126 40 000 41 824 Effective tax rate 37 988 (2025: 22.0%) 35 000 (2024: 22.4%) 30 000 25 000 20 000 15 000 10 000 2024 NI
Slide 53: Focus on managing variable costs paying off
Focus on managing variable costs paying off 53 Other expenditure Computer expenses q12% p10% Depreciation, amortisation and leases q8% Advertising and marketing p24% 5 942 10 225 5 205 Property expenses p6% 2 370 1 626 Professional fees p4% 4 127 Group costs R millions p2% 46 503 Staff costs p5%
Slide 54: Core staff cost managed well and anchored to annual salary increases
Core staff cost managed well and anchored to annual salary increases 54 Other q4% Lower temporary staff costs and leave pay provision releases 2 958 Variable staff costs p3% 8 995 Short-term incentives +4% Share price linked incentives +1% Staff costs p5% 34 550 Direct staff costs p 6% Annual salary
Slide 55: Positive jaws indicating directional shift in CTI
Positive jaws indicating directional shift in CTI 55 R billion % 52.4% 52.5% 52.6% 175 000 51.4% 50.8% 50 50.3% 150 000 48.8% 149 694 141 400 40 125 000 131 008 116 218 3.7% 100 000 109 491 (2.6%) 30 2.4% 75 000 (0.3%) 74 405 75 998 20 67 320 61 024 50 000 57 342 10 25 000 — — 2021* 2022* 2023 2024
Slide 56: Summary: June 2025
Summary: June 2025 56 Net interest income p6% Non-interest revenue* p 6% • Better-than-expected NII outcome • Fee and commission income p6% • Deposit franchise p8% • Insurance income p1% and p10% excluding MotoVantage IFRS 5 • Core lending advances p6% held-for-sale impact • ALM strategies partial o
Slide 57: UK Motor Commission Considerations
UK MOTOR COMMISSION CONSIDERATIONS for the year ended 30 June 2025
Slide 58: UK motor commissions – timeline
UK motor commissions – timeline 58 January 2024 – June 2024 June 2024 – April 2025 May 2025 – September 2025 • UK Court of Appeal (COA) • FCA announces 7 principles judgment • SC upholds most significant appeal • FCA request to intervene in UK grounds – credit brokers do not • FCA launches S166 • In
Slide 59: UK motor commission provision considerations and judgments
UK motor commission provision considerations and judgments 59 Motor commission provision Provision assumptions £ million • Multiple probability-weighted scenarios • All scenarios cover FCA's possible application of SC quantitative measures • Include DCAs and non-DCAs from 2007 – 2024 240.0 • Time va
Slide 60: UK motor commission provision – why the increase?
UK motor commission provision – why the increase? 60 What has changed? Front book £15.1m • SC clarified factors that may result in unfairness and noted that they are fact 2024 12% specific to each complaint: provision – > 55% of total charge for credit and > 25% of the advance of credit £127.4m Back
Slide 61: Other considerations not included in the provision calculation
Other considerations not included in the provision calculation 61 • Any potential ‘contingent’ recoverable amounts i.e. credit broker liability or contribution • Commercial considerations, including customer outcomes, i.e. % total charge for credit as a standalone factor: On its own % total charge f
Slide 62: Looking Ahead
LOOKING AHEAD
Slide 63: Legal clarity in UK motor commission granted, awaiting regulatory certainty
Legal clarity in UK motor commission granted, awaiting regulatory certainty 63 Common and contractual law UK Supreme Court Regulatory uncertainty • Ongoing litigation funded by • Common law certainty • Uncertainty risk created due to litigation funders • Fiduciary duty clarified range and scope of r
Slide 64: Group set up to deliver higher earnings growth and ROE in the year ahead
Group set up to deliver higher earnings growth and ROE in the year ahead 64 • Operational performance will be stronger in FY26 – High single-digit NII growth driven by higher advances growth, ongoing momentum in deposit franchises and endowment protection from ALM – NIR will deliver much higher grow
Slide 65: Annexures
ANNEXURES for the year ended 30 June 2025
Slide 66: Normalised earnings excluding the UK motor commission provision and associated costs
Normalised earnings excluding the UK motor commission provision and associated costs 66 Normalised earnings R million 50 000 p6% p3% p6% p12% p7% 3 168 (1 936) p9% 45 000 (1 489) (1 264) 5 126 Effective tax rate 44 011 (2025: 22.1%) 40 000 (2024: 22.6%) 40 406 35 000 30 000 25 000 20 000 15 000 10 0
Slide 67: Group NII reflects lending and deposit growth, supported by capital endowment
Group NII reflects lending and deposit growth, supported by capital endowment and investment strategy 67 Net interest income R million 35 000 p6% 30 000 29 483 27 711 25 000 p5% 21 834 20 000 20 827 ( q1% in GBP) q1% 15 000 p14% 14 232 14 041 12 683 10 000 11 170 p6% p10% 5 000 5 832 6 166 4 255 4 6
Slide 68: Strategy on margin expansion in rate-cutting cycle delivered better outcome
Strategy on margin expansion in rate-cutting cycle delivered better outcome 68 Normalised margin % 2024 2025 Basis points NIM excl. UK 4.95 5.01 NIM incl. UK 4.47 4.52 550 2 6 2 2 500 495 501 48 (6) (49) 450 447 452 400 350 300 250 200 2024 UK 2024 Lending Deposits* Capital Group Treasury, FNB broad
Slide 69: Deposit franchise momentum continues across all segments
Deposit franchise momentum continues across all segments 69 Funding liabilities p9% p8% 499 ( p5% £) p7% 463 p11% 428 415 401 375 p9% p22% q4% 230 211 (p8% ccy) 197 188 183 p24% p9% 150 129 101 110 p23% 105 32 39 Retail Commercial CIB* Broader Africa** Aldermore deposit FI deposits and Debt securiti
Slide 70: Institutional funding mix composition and term remain well managed
Institutional funding mix composition and term remain well managed 70 Institutional funding as % of total funding Diversified institutional funding mix and term profile 50% Institutional funding composition Months 100% 45% 40 41 80% 39 39 40% 34 60% 30 35% 29 40% 30% 20 20% 25% 10 20% —% 2011 2012 2
Slide 71: Fee and commission income remains biggest driver of NIR growth
Fee and commission income remains biggest driver of NIR growth, resilient momentum 71 Non-interest revenue Other p9% Fee and commission income p6% Total investment income* p50% Gross fee and commission +6% income 4 417 Transaction volume +4% 4 358 Customer acquisition +2% Trading and other fair valu
Slide 72: Fair value income impacted by large PI realisation in base
Fair value income impacted by large PI realisation in base, reduced risk concentrations result in lower trading income 72 7 000 5 806 q14% 166 6 000 4 968 709 5 000 GTSY and other 535 p>100% 507 4 000 q28% RMB 3 000 5 419 2 000 3 971 q27% 1 000 — UK ops FV accounting (488) (45) q91% mismatches (1 00
Slide 73: Good cost outcome is not at the expense of continued platform investment
Good cost outcome is not at the expense of continued platform investment 73 Other expenditure p1% 19% Staff expenditure p8% 43% IT costs p8% 29% Computer expenses p10% 9% Depreciation and amortisation p16%
Slide 74: Shared Prosperity – inclusive value creation
Shared Prosperity – inclusive value creation 74 Underlying business strategies deliver a blend of financial and social outcomes SUSTAINABLE FINANCE FACILITATION HOME OWNERSHIP • R202.2 billion to date • Mortgage book: R270 billion Including TRUSTED CUSTODIAN OF THE • Affordable housing: R23.2 billio
Slide 75: Group has strengthened its balance sheet
Group has strengthened its balance sheet 75 ACTUAL TREND Assets in marketable format R674 billion Marketable liquid assets grew marginally. The ratio of liquid assets to total assets has Liquid assets as % of total assets 26.0%* remained stable. LCR: 129% (group), 133% (bank) The group’s liquidity p
Slide 76: FNB reflecting good momentum, bolstered by improved business confidence
FNB reflecting good momentum, bolstered by improved business confidence 76 Normalised profit Normalised earnings before tax Deposits R23.6bn (2024: R22.0bn) p8% R33.6bn (2024: R31.6bn) p7% R1 006.5bn (2024: R936.2bn) p8% Return on assets Return on equity Advances 3.94% (2024: 3.88%) p6 bps 37.4% (20
Slide 77: Retail lending continues to focus on better-rated customers
Retail lending continues to focus on better-rated customers 77 FNB retail new business risk distribution WesBank VAF new business risk distribution 100% High risk High risk 100% Highrisk risk High Medium risk Medium risk Medium risk Medium risk 80% 80% Low risk 60% 60% Low risk 40% Low risk 40% Low
Slide 78: Sector-specific origination in commercial is benefiting growth and quality of risk
Sector-specific origination in commercial is benefiting growth and quality of risk. Strong momentum in SME drives overdrafts growth 78 Commercial advances split FNB commercial new business risk distribution 100% High risk Other Medium risk 80% Medium risk p11% Overdrafts p15% 60% 6% Low risk 14% 40%
Slide 79: FNB operational highlights
FNB operational highlights 79 Customers Digital (app, online and USSD) Rewards (incl. eBucks) Retail 8.66m +1% Logins (+10%) 2.15bn Rewards earned (+10%) R2.4bn Commercial 1.35m +6% Digital interface transactions 890m eBucks earned since Broader Africa 2.36m +7% (+11%) R24.0bn inception Total 12.37m
Slide 80: Good growth in transactional volumes maintained
Good growth in transactional volumes maintained 80 Transactional volumes* p4% y/y Banking app volumes p14% y/y Millions Millions Financial transaction volumes Financial transaction volumes 400 60 50 300 40 200 30 20 100 10 – – Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Jun Dec Jun Dec Jun D
Slide 81: Resilient NIR growth on the back of new customer acquisition, improved volumes and upgrades
Resilient NIR growth on the back of new customer acquisition, improved volumes and upgrades 81 FNB NIR +6% • Integrated financial services strategy continues to diversify NIR FNB insurance income +9% • FNB SA reached 10 million customers • 3.4% main-banked growth in retail and 6% customer growth in
Slide 82: FNB deposit franchise – Continued strong deposit growth
FNB deposit franchise – Continued strong deposit growth delivered through attractive propositions 82 FNB deposit franchise Retail deposit mix* Current 600 Broader Africa (RHS) +11 y/y 80 q1% Notice and fixed Medium risk (5-year CAGR 10%) 16% p7% 34% Commercial +8 y/y 70 500 (5-year CAGR 12%) R374.3b
Slide 83: WesBank's strong performance underpinned by good credit and cost outcomes
WesBank’s strong performance underpinned by good credit and cost outcomes 83 Normalised profit FNB main-banked Normalised earnings before tax customers as % of base R2.4bn (2024: R2.0bn) p 20% R3.1bn (2024: R2.7bn) p15% 60% (2024: 60%) tu Return on assets Return on equity NPLs as a % of advances 1.2
Slide 84: WesBank – operational trends
WesBank – operational trends 84 Good growth in retail VAF NPL levels drift higher on elevated rates R million Amount disbursed on new and existing business Advances NPLs Retail VAF p23% R million % of advances 5 000 191 182 10% 180 171 173 4 000 163 9% 154 160 141 144 8% 3 000 140 7% 120 6% 2 000 10
Slide 85: Arrears – operational trends
Arrears – operational trends 85 Retail mortgages WesBank VAF 7.2% 7.0% 4.6% 4.8% 4.4% 5.7% 3.7% 3.7% 4.0% 3.5% 3.6% 3.4% 4.6% 3.2% 3.1% 4.0% 4.0% 4.2% 3.8% 3.8% 5.9% 3.5% 3.8% 4.5% 3.6% 3.4% 3.5% 3.9% 3.8% 3.5% 3.4% 3.2% 3.4% 2.0% 2.1% 2.0% 2.0% 2.0% 1.8% 1.4% 1.5% 1.5% 1.2% 1.1% Jun 20 Dec 20 Jun 2
Slide 86: Strong domestic performance and PE realisations drive RMB's performance
Strong domestic performance and PE realisations drive RMB’s performance 86 Normalised earnings Normalised PBT Core deposits R10.7bn (2024: R9.7bn) p10% R15.2bn (2024: R13.8bn) p11% R299.0bn (2024: R272.5bn) p10% Average core deposits R289.2bn p9% Return on assets Return on equity Core lending advanc
Slide 87: RMB advances growth reflects execution of strategic initiatives
RMB advances growth reflects execution of strategic initiatives tilted towards better-rated counters 87 Beverages q25% Diversified industrials New origination – EAD by rating distribution R billion p15% 2% 100 84 6% Finance q5% 47 8% 50 Food producers and 28 processors p5% Other – p9% 4% Health q14%
Slide 88: Strong performance in IBD but currency weakness weigh on RMB Africa
Strong performance in IBD but currency weakness and global market constraints weigh on RMB Africa results 88 Broader Africa* normalised PBT R million 5 000 Treasury and Trade Solutions q2% • NII declined due to pressure on both advances and deposits • Deposit contraction in Botswana and Namibia driv
Slide 89: Regulatory and economic factors weigh on FNB broader Africa
Regulatory and economic factors weigh on FNB broader Africa, but businesses continue to scale 89 Normalised PBT R million 4 000 p2% • FNB broader Africa PBT increased 5% • Good growth in advances across all countries other 3 000 than Namibia, where slowdown has resulted in moderate overall growth fo
Slide 90: Unpacking UK operations and Aldermore Group operational performance
Unpacking UK operations and Aldermore Group operational performance 90 Financial performance income statement £ million 2025 2024 % change Total income* 605 594 2 p Operating expenses** (395) (359) 10 p Impairment losses (17) 18 >100 p UK operations PBT 193 253 24 q NOSIA impairment release — (40) (
Slide 91: UK credit exposures are performing in line with expectations
UK credit exposures are performing in line with expectations 91 Gross advances and NPLs Arrears levels £ million Medium risk 3.44% 3.35% 3.38% 2.7% 2.6% 2.6% 3.16% 2.96% 2.94% 2.4% 2.3% 2.72% 2.66% 2.61% 16.9 15.9 16.0 1.8% 15.2 15.6 15.3 15.6 14.4 14.6 1.6% 1.6% 1.5% 1.3% 1.1% 1.1% 1.2% 1.0% 0.9% 0
Slide 92: UK operations: Owner-occupied portfolio regionally diversified
UK operations: Owner-occupied portfolio regionally diversified 92 48% of the portfolio has a balance <£200k Book size £2.0 billion 25% Medium risk 19% 4% 4% 17% 14% 11% 11% 19% 7% 6% 8% 1% —% —% 0 – 50k 50k – 100k – 150k – 200k – 300k – 400k – 500k – 1m – 2m >2m Regional distribution of 100k 150k 20
Slide 93: UK operations: Buy-to-let portfolio – remains highly secured
UK operations: Buy-to-let portfolio – remains highly secured 93 69% of loans <£400k, with 10% above £1 million Book size £6.7 billion 19% Medium risk 3% 6% 14% 13% 13% 21% 12% 11% 6% 7% 7% 7% 3% 1% Regional distribution of 0 – 50k 50k – 100k 100k – 150k – 200k – 300k – 400k – 500k – 1m 1m – 2m >2m 1
Slide 94: Aldermore continues to focus on deposit gathering and funding diversification
Aldermore continues to focus on deposit gathering and funding diversification 94 Customer deposits p5% to £17.0bn The group maintains a stable base of fundingMedium and liquidity, supported by committed, risk contingent funding facilities and underpinned by a strong liquidity coverage ratio of 195%
Slide 95: Aldermore acquisition – value accretive
Aldermore acquisition – value accretive 95 R million £ million (rand equivalent) Investment at acquisition (March 2018) @ spot rate (£1 = R16.68) 1 098 18 311 Aldermore excluding MotoNovo: earnings for the three months ended 30 June 2018 16 June 2018 adjusted NAV @ spot rate (£1 = R18.18) 1 114 20 2
Slide 96: www.firstrand.co.za
(€3) FirstRand www.firstrand.co.za