INVESTEC BANK LIMITED


 Reference Index                     FSTE 100 Index
 Initial Index Level                 7259.85
 Expiry Date                         06 June 2024
 Cover Ratio                         1:1
 Call/Put/Other                      Put
 Style                               European
 Issue Size                          18,203
 JSE Code                            SPIB31
 ISIN Code                           ZAE000274411


                            POTENTIAL AUTOMATIC OPTION EXPIRY ON 06 JUNE 2022

Investec Bank Limited (“Investec”), as Issuer of the above Equity Structured Product (ESP), hereby reminds holders of
their potential imminent option expiry on 06 June 2022 (see the related securities above). If the conditions for expiry are
fulfilled the option will automatically expire on 06 June 2022.

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 13 June 2022.

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 13 June 2022.

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 Tuesday, 31 May 2022
    should they wish to receive delivery of the remaining underlying securities in the event that the put option expires
    out of the money

 Condition for Expiry                                    Closing level of the Reference Index on 06 June 2022 is
                                                         greater than the Strike Price
 Date of announcement of whether the Condition for       Tuesday, 07 June 2022, by 11h00
 Expiry has been met

Salient information should the Condition for Exercise be met:

 Last date to trade                                       Tuesday, 07 June 2022
 Date of announcement of Put Option Strike Price          Tuesday, 07 June 2022, by 11h00
 Suspension date                                          Wednesday, 08 June 2022
 Record Date                                              Friday, 10 June 2022
 Payment/Redemption Date                                  Monday, 13 June 2022
 Termination Date                                         Tuesday, 14 June 2022


Date: 25 May 2022

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