IAR 2016

_10ADDITIONALINFORMATION DIRECTORATE OF KEY SUBSIDIARIES Page 152 CREDIT RATING Page 152 FINANCIAL AND OTHER DEFINITIONS Page 153 ACRONYMS AND ABBREVIATIONS Page 155 CORPORATE INFORMATION Page 159 Integrated Annual Report 2016 | 149



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ADDITIONAL INFORMATIONADDITIONAL INFORMATIONDIRECTORATE OF KEY SUBSIDIARIESTrustco Bank Namibia Limited Mr Thomas Newton Independent Non-executive Director and chairman Namibian Citizen Namibian CitizenMs Ndapandula Tshitayi Independent Non-executive Director Namibian Citizen Namibian CitizenMr Stanley Similo Independent Non-executive Director South-African Citizen (Namibian Domicile)Dr Quinton van Rooyen Executive Director Namibian CitizenMr Ryan McDougall Executive Director Namibian Citizen Namibian Citizen Namibian CitizenTrustco Life Limited Namibian Citizen Namibian Citizen Mr Winton Geyser Independent Non-executive Director and chairman Mr Renier Taljaard Independent Non-executive Director Dr Quinton van Rooyen Executive Director Trustco Insurance Limited Mr Winton Geyser Independent Non-executive Director and chairman Mr Renier Taljaard Independent Non-executive Director Dr Quinton van Rooyen Executive Director Elisenheim Property Development Company (Pty) Limited Mr Floors Abrahams Executive Director Namibian Citizen Namibian CitizenDr Quinton van Rooyen Executive Director South-African Citizen (Namibian Domicile)Mr Ryan McDougall Executive Director Namibian Citizen Namibian Citizen Namibian CitizenTrustco Finance (Pty) Limited South-African Citizen (Namibian Domicile) Namibian CitizenMr Quinton Zandre van Rooyen Executive Director Namibian Citizen Namibian CitizenMs Adriana Lambert Executive Director South-African Citizen (Namibian Domicile)Mr Floors Abrahams Executive Director Mr Ryan McDougall Executive Director Trustco Group International (Pty) Limited Mr Quinton Zandre van Rooyen Executive Director Ms Elmarie Janse van Rensburg Executive Director Mr Floors Abrahams Executive Director Mr Ryan McDougall Executive Director CREDIT RATING Short-term Long-term OutlookGlobal Credit Rating Company (GCR) A2 (NA) BBB (NA) Positive A3 (NA) BBB-(NA) StableTrustco Jul 15 A3 (NA) BBB-(NA) StableTrustco Jul 14 Trustco Jul 13 152 | Integrated Annual Report 2016

FINANCIAL AND OTHER DEFINITIONS AND EXPLANATIONSB Earnings attributable to ordinary shareholders divided byBasic earnings per share the weighted average number of ordinary shares in(EPS) issueC Capital as a percentage of risk-weighted assetsCapital adequacy ratio Any tax on the business calculated on the basis of taxableCorporate income tax income including any other taxes akin to corporate tax Operating expenses as a percentage of total income, afterCost-to-income ratio revenue sharing agreements with discontinued operations, but before credit impairments, including share of profit/loss fromCredit loss ratio associates and JV’s and profit/losses from disposal of subsidiariesCPI Total impairment charges on loans and advances per income statement as a percentage of gross loans and advancesD An index of prices used to measure the change in theDividend cover cost of basic goods and services in South AfricaDividend per share Headline earnings per share divided by dividend per shareE Total dividends to ordinary shareholders in respect of theEffective tax rate year, expressed in centsEmployee payroll taxes Direct taxation as a percentage of income before taxationEmployer payroll taxes Comprises payroll taxes and social security tax withheld from employee remunerationG Comprises payroll taxes payable as a result of a company’sGross specific impairment capacity as an employer inclusive of social security, leviescoverage ratioH Balance sheet impairments for non-performing, specificallyHeadline earnings impaired, loans as a percentage of specifically impaired loansHeadline earnings per Determined, in terms of the circular issued by the Southordinary share (HEPS) African Institute of Chartered Accountants at the request of JSE, by excluding from reported earnings specific separately identifiable remeasurements net of related tax and non-controlling interests Headline earnings divided by the weighted average number of ordinary shares in issue Integrated Annual Report 2016 | 153

ADDITIONAL INFORMATIONADDITIONAL INFORMATION CONTINUEDI IFRS – standards issued by the International AccountingInternational Financial Standards Board (IASB)Reporting StandardsN Equity attributable to ordinary shareholdersNet asset value Net asset value divided by the number of ordinary sharesNet asset value per share in issue at year end Net interest income as a percentage of total assets, excluding trading derivative assetsNet interest margin An index of prices used to measure the change in the cost of basic goods and services inNCPI NamibiaP Income statement profit attributable to ordinary shareholdersProfit for the yearR Headline earnings as a percentage of monthly averageReturn on equity ordinary shareholders’ funds (expressed as percentage) An expression of the maximum level of residual risk that theRisk appetite group is prepared to accept in order to achieve its business objectivesShares in issue Number of ordinary shares in issue as listed on the exchange operated by the JSEReinsurance Insurance or investment risk that is ceded to another insurer in return for premiumsSShares in issue Number of ordinary shares in issue as listed on the exchange operated by the JSEWWeighted average number The weighted average number of ordinary shares in issueof shares during the year as listed on the JSE154 | Integrated Annual Report 2016

ACRONYMS AND ABBREVIATIONSA Affirmative actionAA African Development BankADB American Depository ReceiptADR Annual financial statementsAFS Annual general meeting of TrustcoAGM Assets and liability committee of Trustco BankALCO Audit and risk committee of TrustcoARC Actuarial Society of South AfricaASSAB Banking regulations set by the Basel commission on bankingBasel II supervision BDO Namibia and BDO South AfricaBDO The board of directors of TrustcoBoard Bank of NamibiaBoN Brazil, Russia, India and ChinaBRICC CapitalAdequacy RatioCAR Chief Information OfficerCIO Companies and Intellectual Property CommissionCIPC The Namibian Companies Act, Act 28 of 2004Companies Act Certificateof ProficiencyCOP Corporate Social InvestmentCSID Deutsche Investitions- und EntwicklungsgesellschaftDEG Diploma in Pre-primary EducationDPPE Developmental funding institutionDFI Disaster RecoveryDRE Elisenheim Property Development Company (Pty) LtdElisenheim or EPDC Earnings per shareEPS Environmental and Social Impact AssessmentESIA Group executive committee of TrustcoExco Group executive committee of Trustco under mentorshipExco menteesF Farm Herboths (Pty) LimitedFarm Herboths Fides Bank Namibia LimitedFides Bank Financial Services BoardFSB Financial yearFY Integrated Annual Report 2016 | 155

ADDITIONAL INFORMATIONADDITIONAL INFORMATION CONTINUEDG Gross domestic productGDP Global Credit Rating CoGCR Global Carbon ExchangeGCX Global Reporting InitiativeGRI Trustco group of companies or “Trustco”GroupH All pulling together in the same directionHarambee Harambee Prosperity Plan: Namibian Government’s Action Plan towards Prosperity for AllHPP Headline earnings per shareHEPS Portion 3 and remainder of Farm Herboths No 485Herboths Human resourcesHR Huso Investments (Pty) LtdHusoI Institute of Certified BookkeepersICB Information and communication technologyICT International Finance CorporationIFC International Financial Reporting StandardsIFRS Informanté newspaperInformanté Institute for Open LearningIOL Information technologyIT Information Technology Steering CommitteeITSCJ Johannesburg Stock Exchange LimitedJSEK The King Code of Corporate Practice and ConductKing III Khomas Medical Centre situated on the corner of Florence Nightingale and Allies Street Khomasdal,Khomas Medical Centre Windhoek, Namibia Key Performance IndicatorKPIL Proposed industrial development in Windhoek, owned by TGILafrenz The holding of undeveloped property by TrustcoLand bank Living Standards MeasureLSM156 | Integrated Annual Report 2016

M Morse Investments (Pty) LtdMorse Managing director of TrustcoMDN Namibian dollarNAD Namibia Financial Institutions Supervisory AuthorityNamfisa Net asset valueNAV It’s goodNawa National Council for Higher EducationNCHE Next Investments (Pty) LtdNext Non-governmental organisationsNGO’s Northern Namibia Development Company (Pty) LtdNNDC Nomination committeeNomco Net profit after taxNPAT Non-performing loansNPL’s Namibia Stock ExchangeNSX Namibia Training AuthorityNTA Namibia Qualifications AuthorityNQA National Qualifications FrameworkNQF Namibian National Teacher’s UnionNANTU Namibia Schools Sport UnionNSSUO Proposed mixed-use land development in Ondangwa, owned by Northern Industrial EstatesOndangwa (Pty) LtdP Pay as You EarnPAYE Professional Management Review AfricaPMR PMR Africa Namibia Country Survey Business Exellence AwardsPMR awards Property Plant and EquipmentPPEQ Empowerment initiative for aspiring young entrepreneurs and business men and womenQVR Code throughout NamibiaR Real People (Pty) LtdReal People The remuneration committee of TrustcoRemco Integrated Annual Report 2016 | 157

ADDITIONAL INFORMATIONADDITIONAL INFORMATION CONTINUEDROE Return on equitySSADC Southern Africa Development CommunitySDLC Software Development Life CycleSENS Securities Exchange News ServiceSME Small and medium enterprisesTTAS Trustco Air Services (Pty) LtdTFS Trustco Financial Services (Pty) LtdTGI Trustco Group International (Pty) LtdTrustco Trustco Group Holdings LtdTGH Trustco Group Holdings LtdTrustco Bank Trustco Bank Namibia LtdTrustco Capital Trustco Capital (Pty) LtdTrustco Finance Trustco Finance (Pty) LtdTrustco Fleet Trustco Fleet Management Services (Pty) LtdTrustco Insurance Trustco Insurance LtdTrustco Life Trustco Life LtdTrustco Properties Trustco Property Holdings (Pty) LtdTrustco Resources Trustco Resources (Pty) LtdTTO Trustco JSE share codeTUC Trustco NSX share codeUUNAM University of NamibiaVVWAP Volume weighted average priceWWANOS Weighted average number of ordinary sharesWatermeyer Watermeyer Mining and Construction (Pty) LtdWSF World Squash Federation158 | Integrated Annual Report 2016

CORPORATE INFORMATION Trustco Bank Namibia offices: OshakatiBusiness address and registered office Frans Indongo ComplexTrustco Group Holdings Limited Unit 6Trustco House Oshakati Main Road (B1)2 Keller Street Tel: +264 61 434 8000WindhoekNamibia Omuthiya NDC ComplexPostal address Main Road (B1)PO Box 11363 Tel: +264 61 434 8000WindhoekNamibia Windhoek Eros, Cnr of Omuramba Road & Valley Hakos StreetHead office switch board Tel: +264 61 434 8000Tel: +264 61 275 4000Fax: +264 61 275 4090 South African officesWeb: www.tgh.na Johannesburg:E-mail: [email protected] Tuscany Office Park  First Floor, Block 9Regional Offices 6 Coombe Place Rivonia,2128Ongwediva: Tel: +27 11 644 6622Main RoadOngwediva Cape Town:Tel: +264 65 233 300 303-305 Oakmond Somerser Links Business ParkOtjiwarongo: De Beers AvenueNo.5 Libertine Amathila Avenue Somerset West,7130Unit 8 Tel: +27 (0) 21 852 0851OtjiwarongoTel: +264 67 314 720 Mauritius: c/o MASlux (Mauritius) LtdKatima Mulilo: 13th Floor, Tower  347 Hage Geingob Street NeXTeracomKatima Mulilo CybercityTel: +264 66 254 433 Ebene 72201Rundu:1267 Eugene Kakukuru Street SponsorsRundu JSE Sponsor and Corporate AdvisorTel: +264 66 255 066 Sasfin Capital, a division of Sasfin Bank Limited (Registration number 1951/002280/06)Walvis Bay: 29 Scott Street Waverley, 2090168 Sam Nujoma Drive (PO Box 9510, Grant Park, 2051)WalvisbayTel: +264 64 212 000 NSX Sponsor IJG Securities (Proprietary) LimitedGobabis: (Registration number 95/505)Corner of Church Street and Station Road 100 Robert Mugabe AvenueShop No 9 First Floor, Heritage SquareTau Shopping Centre WindhoekGobabis NamibiaTel: +264 61 270 9610 (PO Box 186, Windhoek, Namibia)Keetmanshoop: Integrated Annual Report 2016 | 1595th AvenueSocial Security Commission BuildingKeetmanshoopTel: +264 63 227 200 

ADDITIONAL INFORMATIONADDITIONAL INFORMATION CONTINUED Transfer secretaries Company secretary and business address Computershare Investor Services (Proprietary) Limited Amanda Bruyns (Registration number 2004/003647/07) Trustco House Ground Floor 70 Marshall Street 2 Keller Street Windhoek Johannesburg, 2001 Namibia (PO Box 61051, Marshalltown, 2107) PO Box 11363, Windhoek, Namibia Tel: +27 11 370 5000 [email protected] +264 61 275 4501 Transfer Secretaries (Proprietary) Limited (Registration number 93/713) Group financial director 4 Robert Mugabe Avenue Ryan McDougall (Burg Street entrance opposite Chateaux Street) [email protected] Windhoek, +264 61 275 4501 Namibia (PO Box 2401, Windhoek, Namibia) Instrument Codes: Tel: +264 61 227 647 JSE share code: TTO            Auditors TUC BDO South Africa Incorporated NSX share code: NA000A0RF067 22 Wellington Road Parktown, Johannesburg ISIN code: Sout Africa Tel: +27 10 060 5059 BDO Namibia 61 Bismarck Street Windhoek PO Box 2184 Windhoek Namibia Tel: +264 61 224 125 Forward-looking statements: This integrated report may contain certain forward-looking statements that, unless otherwise indicated, reflect the group’s expectations as at financial year end. These forward-looking statements are not statements of fact or guarantee of future performance and by their nature involve risk and uncertainty as they relate to future events and circumstances which are difficult to predict and are beyond the group’s control. The group’s actual future performance, results, strategies and objectives may differ materially from the plans, goals and expectations expressed or implied in future-statements. As such, readers are cautioned not to place undue reliance on these forward-looking statements and the group disclaims any intention and assumes no obligations to update or revise any forward-looking statement. The group does not assume responsibility for any loss or damage arising as a result on the reliance by any party thereon. Feedback: We welcome the views of our stakeholders on the integrated annual report. Please contact us at [email protected] with your feedback.160 | Integrated Annual Report 2016