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 option expiry on 06 March 2023 (see the related securities above) and are referred to the SENS announcement
dated 23 February 2023.

The Final Reference Price exceeded the Put Strike Price on the Expiry Date therefore the Put Option expired out of the
money and Holders are obliged to pay Premium (R320.8250 per SPIB32) to the Issuer.

The Issuer will sell the Holders Underlying Securities for the Final Reference Amount (R2,425.5000) and the proceeds
less the Premium, being R2,104.6750 per SPIB32 will automatically accrue to the Holder via instruction through STRATE
on 10 March 2023.

Holders who elected to receive delivery of the remaining underlying securities will receive 30 Sygnia ITRIX MSCI US
ETF (SYGUS) per SPIB32 on 10 March 2023.

 Put Option Strike Price                                 R2,104.6750
 Final Reference Amount                                  R2,425.5000
 Premium                                                 R320.8250
 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
 Settlement Amount                                       R2,104.6750


Election Results:

         Description                                     Elected by (no. of units)
 A)      Cash settlement of R2,104.6750                  134,507
 B)      Receive delivery of underlying securities       nil


Date: 07 March 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