Breached barrier - KIOIHE INVESTEC BANK LIMITED NOTICE OF BARRIER FOR HOT ENHANCED DIVIDEND KIOIHE Share Kumba Iron Ore Limited Strike Price R200.00 Stop-Loss Level R227.00 Expiry Date 2015/10/16 Cover Ratio 1:1 Call/Put Call Style American Issue Size 180 000 JSE Code KIOIHE ISIN Code ZAE000196986 Investec Bank Limited, as Issuers of the above KIOIHE, Hot Enhanced Distribution Security (HOT EDS), advised Holders that due to the breach of the stop loss level of R227.00 in the Underlying Share, as of close of business Friday, 16 January 2015 the abovementioned Hot Enhanced Distribution Security (HOT EDS) has been terminated. The Rebate Payment, represented by the number of HOT EDS 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 R200.00 This amount will automatically accrue to holders via instruction through STRATE. The VWAP on, 19 January 2015 = R 226.92 The VWAP on, 20 January 2015 = R 231.67 The simple average of the 2 day VWAP = R 229.295 Holders will receive R 29.295 for every warrant held. 21 January 2015 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.investecwarrants.com Sponsor Investec Securities (Pty) Ltd Member of the JSE Registration number. 1972/008905/07) Date: 21/01/2015 09:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.