Detailed Report - Nedbank Group Limited

2.ManagementControlThemanagementandcontrolelementreflectsthemakeupoftheNedbankBoardaswellasthetransformationthattakesplaceatGroupExecutivelevel.NedbankhasmademajorstridesinbecomingtheleaderintheFinancialMailTopEmpowermentsurveyinthiselement.AtBoardlevelwenowexceedthetargetssetfor2016.SimilarlyatExecutivelevel,althoughweareexceedingthe2016target,thelowscoreinBlackFemaleperformancedirectlyinfluencesouroverallscorethroughtheapplicationoftheAdjustedRecognitionforGender(ARfG)principleoftheCodes(50%gendertargetoftheoveralltarget).Table3depictsourscoreinthiselement.Table2:ManagementandControlscorecardCategoryPossiblepointsDec 2011verified2010verified2009verifiedExercisablevotingrightsin3 3.00 2.82 2.67Board thehandsofblackpeopleparticipation BlackExecutiveDirectors2 1.67 1.67 1.50usingtheARfG5 3.52 3.13 4.16Bonuspoints BlackIndependentNon1 1.00 1.00 1.00ExecutiveBoardMembersTotal 10+1 9.19 8.62 9.33TopBlackTopManagementusingManagement theARfGBBBEElevel 2 2 2BoardofDirectorsName TypeofDirectorship Race Gender Citizenship Dateappointed AgeBoardman,TA NonExecutive Male White SA 01Mar10 61Brown,MWT Executive Male White SA 17Jun04 44Chikane,TCP IndependentNonExecutive Female African SA 01Nov06 45Dempster,GW Executive Male White SA 05Aug09 55deLFigaji,B IndependentNonExecutive Male Coloured SA 25Nov02 66EnusBrey,MA IndependentNonExecutive Male Indian SA 16Aug05 56Hope,DI# IndependentNonExecutive Male White NonSA 01Dec09 54Khoza,RJ Executive Male African SA 16Aug05 61KnotCraig,AC IndependentNonExecutive Male White SA 01Jan09 58LucasBull,WE NonExecutive Female White SA 01Aug09 57Makwana,PM IndependentNonExecutive Male African SA 17Nov11 41Mnxasana,NP NonExecutive Female African SA 01Oct08 54Morathi,RK Executive Female African SA 01Sep09 41Netshitenzhe,JK IndependentNonExecutive Male African SA 05Aug10 54Roberts,JVF* NonExecutive Male White NonSA 01Dec09 53Serobe,GT NonExecutive Female African SA 16Aug05 51Wyman,MI* NonExecutive Male White NonSA 01Aug09 64*British–AppointedbyOldMutualPlc,#NewZealand–AppointedbyOldMutualPlcNedbankGroupTransformationReport2011–FinalDraft.11