In compliance with section 3.59 of the Listings Requirements of the JSE Limited, Standard Bank Group announces the resignation of Mr Lubin Wang as non-executive director of the board of the Company with effect from 11 November 2021.

In his stead, the Company has appointed Mr Li Li to its board as a non-executive director with effect from 11 November 2021.

Mr Li Li (44), holds a master’s degree in Economics from the University of International Business and Economics. Mr Li Li joined Industrial and Commercial Bank of China Limited (“ICBC”) in 2004. He currently serves as the Chief Representative Officer of ICBC, Africa Representative Office and has held this position since October 2021.

He has held several positions within ICBC. Prior to his current role, Mr Li Li served as the Deputy General Manager of the ICBC Zurich Branch from January 2018.

Mr Li Li’s appointment is effected in terms of an agreement between Standard Bank Group and ICBC, a 20% shareholder of Standard Bank Group, wherein ICBC is entitled to nominate two non-executive directors for appointment to the board.

Mr Li Li will also replace Mr Lubin Wang as non-executive director on the board of The Standard Bank of South Africa Limited.

Standard Bank welcomes Mr Li Li and expresses its appreciation to Mr Lubin Wang for his contribution to the boards.

Lead sponsor
The Standard Bank of South Africa Limited

Independent sponsor
JP Morgan Equities South Africa Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

11 November 2021

STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE and A2X Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(“Standard Bank Group” or “the Company”)