Standard Bank Group (SBK) Investor presentation summary

Climate policy and transition strategy

• Committed to net zero carbon emissions by 2050 for operations and financed emissions, with phased reduction of fossil fuel financing and strong support for renewables.

• Oil financing to be reduced by 5% by 2030, with no new oil-fired power plants unless part of a renewable solution.

• Coal financing to drop to 0.5% of total loans by 2030, with no new coal power plants or expansions.

• Gas is viewed as a transition fuel, with financing phased out by 2045 unless part of a cleaner energy transition.

• Over ZAR50bn provided for renewable energy projects, exceeding fossil fuel financing.

Market leadership and credentials

• Recognized as a leading renewable investor in South Africa, with a strong track record in financing, investment, and hedging for major projects.

• Extensive on-the-ground presence across Africa and global financial centers, enabling local insights and strategic relationships.

• Financed over 30 projects and ZAR50bn in the sector in the last 24 months.

• Holds significant market share in government renewable programs, including 83% in Bid Window 5.

• Awarded African Bank of the Year 2023 and recognized for ESG and sustainable advisory.

South African power market structure and evolution

• Largest and fastest-growing power market in Africa, with demand at approximately 239 TWh per year.

• Market liberalization has enabled competition, with IPPs now supplying about 15% of generation.

• Transmission now managed by the independent NTCSA, aiming for fair grid access.

• Grid constraints in high-yield renewable regions limit new project connections.

• Government plans to procure 15 GW of wind and solar and 1.2 GW of battery storage in the next 24 months.