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 – IVC232

Application has been made to the JSE Limited (“JSE”) for the listing of R100,000,000 (one
hundred million Rand) senior unsecured floating rate credit linked Notes (stock code
IVC232), under Investec Bank Limited’s Credit Linked Note Programme dated 17 March
2021.

The IVC232 Notes will be issued to Noteholders on the date of listing being with effect from
28 November 2022 commencement of trade.

Salient features of the IVC232 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                                               28 November 2022

Nominal Amount per Note                                  R1,000,000

Interest Rate                                            ZAR-JIBAR-SAFEX        with   a
                                                         Designated Maturity of 3 months
                                                         plus a margin of:
                                                         165 bps from and including the
                                                         Issue Date to but excluding the
                                                         Scheduled Maturity Date


Scheduled Maturity Date                                  28 November 2025

Optional Redemption Date (Call)                          N/A


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 19 February to 28 February, 19
                                                    May to 28 May, 19 August to 28
                                                    August and from 19 November to 28
                                                    November (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                                18 February, 18 May, 18 August
                                                    and 18 November 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                              28 February, 28 May, 28 August
                                                    and 28 November of each calendar
                                                    year), with the first Interest Payment
                                                    Date being 28 February 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                                      IVC232

ISIN                                                ZAG000192345

Aggregate Nominal Amount of Notes Outstanding       ZAR9,972,104,752 (nine billion nine
under the Programme after this issuance             hundred and seventy-two 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: 24 November 2022
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za