IBL Financial Overview

Peer group companies Long-Term Deposit Rating S&P Fitch Moody's Global Credit Ratings Baseline Foreign National currency* scale Foreign National Viability Support currency* scale ratings rating Global National scale Absa Bank Limited n/a za.AA BB- AA+(zaf) bb- 4 Ba2 Aa1.za credit International National assessment ba2 BB AA(za) FirstRand Bank Limited BB- za.AA BB- AA+(zaf) bb- 4 Ba2 Aa1.za ba2 BB AA+(za) Nedbank Limited BB- za.AA BB- AA+(zaf) bb- 4 Ba2 Aa1.za ba2 BB AA(za) Standard Bank of South n/a n/a BB- AA+(zaf) bb- 4 Ba2 Aa1.za Ba2 BB AA+(za) Africa Limited Investec Bank Limited BB- za.AA BB- AA+(zaf) bb- 4 Ba2 Aa1.za ba2 BB AA(za) Global Credit Short-Term Deposit Rating S&P Fitch Moody's Ratings Foreign currency* National scale Foreign currency* National scale Global National scale National Absa Bank Limited n/a za. A-1+ B F1+(zaf) NP P-1.za A1+(za) FirstRand Bank Limited B za.A-1+ B F1+(zaf) NP P-1.za A1+(za) Nedbank Limited B za.A-1+ B F1+(zaf) NP P-1.za A1+(za) Standard Bank of South Africa Limited n/a n/a B F1+(zaf) NP P-1.za A1+(za) Investec Bank Limited B za.A-1+ B F1+(zaf) NP P-1.za A1+(za) Rating definitions: Short-term ratings should be used for investments less than a one-year time horizon and long-term ratings for periods greater than a year. Foreign currency ratings should be used when one is considering foreign denominated investments. Investments in Rand should be assessed against local currency and national ratings, (zaf) being Fitch's notation and .za for Moody's, Standard & Poor's and Global Credit Ratings notation for South African ratings. Comparative ratings have been sourced from the respective company websites and recent press releases as at 20 May 2021 and may be subject to changes for which we cannot be held accountable. It is advisable to discuss the ratings of the various companies with the companies themselves as this information merely reflects our interpretation thereof. *Impacted by the rating downgrades of the South African Sovereign. Page 32

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