INVESTEC BANK LIMITED


 Reference Index                     S&P 500® Index
 Initial Index Level                 2,978.71
 Expiry Date                         06 March 2023
 Cover Ratio                         1:1
 Call/Put/Other                      Put
 Style                               European
 Issue Size                          152,629
 JSE Code                            SPIB32
 ISIN Code                           ZAE000278164


                                           OPTION EXPIRY ON 06 MARCH 2023

Investec Bank Limited (“Investec”), as Issuer of the above Equity Structured Product (ESP), hereby reminds holders of
their imminent option expiry on 06 March 2023 (see the related securities above).

In the event that the Put Strike Price of the Put exceeds the Final Reference Price on the Expiry Date, the Put Option
will be automatically exercised, the Holders will sell the Holder Underlying Securities to the Issuer and the Put Strike
Price will automatically accrue to the Holder via instruction through STRATE on 10 March 2023.

In the event that the Final Reference Price exceeds the Put Strike Price on the Expiry Date, the Put Option shall expire
out of the money and Holders will be obliged to pay the Premium to the Issuer. The Issuer will sell the Holder Underlying
Securities for the Final Reference Amount and the proceeds, less the Premium, will automatically accrue to the Holder
via instruction through STRATE on 10 March 2023.

Holders may make the following elections:
A) Cash settlement: the default election at expiry is for holders to receive a cash settlement, holders are not required
    to take any action should they wish to make this election
B) Underlying Securities: holders will need to inform Investec in writing by close of business on Thursday, 02 March
    2023 should they wish to receive delivery of the remaining underlying securities in the event that the put option
    expires out of the money

 Last date to trade                                      Monday, 6 March 2023
 Date of announcement of Put Option Strike Price         Tuesday, 7 March 2023 by 11h00
 Suspension date                                         Tuesday, 7 March 2023
 Record Date                                             Thursday, 9 March 2023
 Payment/Redemption Date                                 Friday, 10 March 2023
 Termination Date                                        Monday, 13 March 2023

Date: 23 February 2023

Copies of Warrant issue documentation can be located on:
        Internet: www.investecwarrants.com

Place and Date of Incorporation of the Issuer:
        Incorporated in the Republic of South Africa
        Registration Number: 1969/004763/06
        Date of Incorporation: 31 March 1969

For further information kindly contact:
         Investec Financial Products
         Tel.: +27 11 286 9663
         E-mail: FPRetail@investec.co.za

Sponsor:
        Investec Bank Limited
        Member of the JSE
        Registration Number: 1969/004763/06