FSR FSR FSR - FirstRand Limited - Trading statement in respect of the six months to 31 December 2011 FirstRand Limited (Incorporated in the Republic of South Africa) (Registration No: 1966/010753/06) ISIN: ZAE000066304 JSE Share Code: FSR NSX Share Code: FST ("FirstRand" or "the Group") TRADING STATEMENT IN RESPECT OF THE SIX MONTHS TO 31 DECEMBER 2011 INTRODUCTION In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, an issuer is required to publish a trading statement as soon as it becomes apparent that earnings per share for the next period to be reported on are expected, with a reasonable degree of certainty, to differ by at least 20% from those of the previous corresponding period. NORMALISED EARNINGS As previously communicated to shareholders FirstRand considers diluted normalised earnings per share from continuing operations to most accurately represent operational performance and this is expected for the six months to December 2011 to increase by between 24% and 28% from 81.1 cents (adjusted from 84.3 cents to exclude OUTsurance for the six months to December 2010) in the comparative period. NON-RECURING PRIOR PERIOD EVENTS Shareholders are reminded that in the six month reporting period ended 31 December 2010 FirstRand distributed its interest in MMI Holdings Limited to shareholders as a dividend in specie. This action gave rise to a significant non-recurring increase, in terms of IFRIC 17, in earnings per share for the six months reporting period to 31 December 2010 and was disclosed in the Group`s income statement. As this gain does not arise from the performance of the Group`s continuing operations, it does not recur in the income statement for the six months to December 2011. Consequently, if this item is excluded, earnings per share for the six months to December 2011 will not differ by more than 20% from the previous comparative period. Headline earnings per share will also not differ by more than 20% from the comparative period. Shareholders are advised that the financial information on which this trading statement is based has not been reviewed and reported on by the Group`s external auditors. FirstRand`s interim results for the six months ended 31 December 2011 will be released on SENS on Tuesday 28 February 2012. Sandton 23 February 2012 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 23/02/2012 08:30:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.