Investec Bank Limited
 (Incorporated in the Republic of South Africa)
 (Registration number: 1969/004763/06)
 Issuer code: BIINLP
 LEI No: 549300RH5FFHO48FXT69

New Financial Instrument Listing Announcement – IVC231

Application has been made to the JSE Limited (“JSE”) for the listing of R180,000,000 (one
hundred and eighty million Rand) senior unsecured mixed rate credit linked Notes (stock
code IVC231), under Investec Bank Limited’s Credit Linked Note Programme dated 17
March 2021.

The IVC231 Notes will be issued to Noteholders on the date of listing being with effect from
14 October 2022 commencement of trade.

Salient features of the IVC231 Notes are listed below:

Issuer                                                   Investec Bank Limited

Principal Amount                                         R1,000,000 per Note on the Issue
                                                         Date

Instrument                                               Senior   unsecured   credit   linked
                                                         Notes

Issue Date                                               14 October 2022

Nominal Amount per Note                                  R1,000,000

Interest Rate                                            8.75% nominal annual compounded
                                                         quarterly in arrear from the date
                                                         beginning on and including the
                                                         Issue Date to but excluding the
                                                         Optional Redemption Date (Call)
                                                         ZAR-JIBAR-SAFEX         with    a
                                                         Designated Maturity of 3 months
                                                         plus a margin of 155bps from and
                                                         including the Optional Redemption
                                                         Date (Call) to but excluding the
                                                         Scheduled Maturity Date
Scheduled Maturity Date                                  14 October 2024

Optional Redemption Date (Call)                          14 October 2023

Issue price per Note                                     100%

Final Redemption Amount per Note                         The outstanding Principal Amount
                                                         per Note (plus accrued unpaid
                                                    interest, if any, to the Scheduled
                                                    Maturity Date)

Interest Commencement Date                          Issue Date

Books Close Period                                  from 4 October to 14 October, 4
                                                    January to 14 January, 4 April to 14
                                                    April and 4 July to 14 July (all dates
                                                    inclusive) in each year until the
                                                    Applicable Redemption Date, or 10
                                                    (ten) days prior and including any
                                                    Payment Day
Last Day to Register                                3 October, 3 January, 3 April and 3
                                                    July in each year, or if such day is
                                                    not a Business Day, the Business
                                                    Day before each Books Closed
                                                    Period, or the last Business Day
                                                    immediately      preceding      the
                                                    commencement of the Books
                                                    Closed Period

Interest Payment Dates                              14 October, 14 January, 14 April
                                                    and 14 July of each calendar year),
                                                    with the first Interest Payment Date
                                                    being 14 January 2023 and if any of
                                                    these dates is not a Business Day,
                                                    the Business Day on which interest
                                                    will be paid, as determined in
                                                    accordance with the applicable
                                                    Business Day Convention (as
                                                    specified in the Applicable Pricing
                                                    Supplement)


Business Day Convention                             Following Business Day

JSE Stock Code                                      IVC231

ISIN                                                ZAG000190943

Aggregate Nominal Amount of Notes Outstanding       ZAR10,210,104,752 (ten billion two
under the Programme after this issuance             hundred and ten million one
                                                    hundred and four thousand seven
                                                    hundred and fifty two Rand)


The Pricing Supplement does not contain any
additional terms and conditions or changes to the
terms and conditions as contained in the
Programme Memorandum.
Investors should study the Applicable Pricing
Supplement for full details of the terms and
conditions applicable to these Notes.


Date: 13 October 2022
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za