INVESTEC BANK LIMITED - SNHIHA - Rebate Notice

SNHIHA - Rebate Notice

INVESTEC BANK LIMITED
NOTICE OF REBATE FOR HOT ENHANCED DIVIDEND SNHIHA

Share                                             Steinhoff International Holdings N.V.



Strike Price                                      R51.00
Stop-Loss Level                                   R58.00
Expiry Date                                       2017/12/08
Cover Ratio                                       1:1

Call/Put                                          Call
Style                                             American
Issue Size                                        2 840 000
JSE Code                                          SNHIHA
ISIN Code                                         ZAE000232567



Investec Bank Limited, as Issuers of the SNHIHA Hot Enhanced Dividend Security (HOTEDs), advised holders that
due to the breach of the stop loss level of R58.00 in the Underlying Share, as of close of business on Friday, 10
November 2017 the abovementioned HOTED was terminated

The Rebate Payment, represented by the number of HOTEDs held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R51.00. This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on 13 November 2017 = R55.9987
The VWAP on 14 November 2017 = R54.4861
The simple average of the 2 day VWAP = R55.2424

Holders will receive R4.2424 for every warrant held.

15 November 2017

Copies of the offering circular may be obtained from:
        Investec Bank Limited
        100 Grayston Drive
        Sandown
        Sandton
        2196

For further information contact:
         Investec Warrants
         Tel.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investec.co.za

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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