New Listing - 120th Supplement INVESTEC BANK LIMITED THE ISSUE OF HOT ENHANCED DIVIDEND SECURITIES Investec Hot Enhanced Dividend Securities (HotEDS): Commencement Date: 15 December 2015 Share BHP Billiton plc Strike Price R118.00 Stop-Loss Level R133.00 Expiry Date 2016/12/15 Cover Ratio 1:1 Call/Put Call Style American Issue Size 65 000 JSE Code BILIHA ISIN Code ZAE000212643 Share MTN Group Limited Strike Price R96.00 Stop-Loss Level R109.00 Expiry Date 2016/12/15 Cover Ratio 1:1 Call/Put Call Style American Issue Size 1 600 000 JSE Code MTNIHN ISIN Code ZAE000212650 Share Standard Bank Group Limited Strike Price R87.00 Stop-Loss Level R98.00 Expiry Date 2016/12/15 Cover Ratio 1:1 Call/Put Call Style American Issue Size 1 100 000 JSE Code SBKIHJ ISIN Code ZAE000212668 Share Sasol Limited Strike Price R283.00 Stop-Loss Level R320.00 Expiry Date 2016/12/15 Cover Ratio 1:1 Call/Put Call Style American Issue Size 60 000 JSE Code SOLIHM ISIN Code ZAE000212684 The JSE Limited (“JSE”) has approved the listing of the abovementioned warrants and trading commenced on Tuesday, 15 December 2015. All members of the JSE may participate in trading, which will occur according to normal JSE Rules. No emigrants or non-residents, both referred to as Restricted Shareholders, may participate in the Hot Enhanced Dividend Securities (HotEDS) programme. As the Warrants have been dematerialised, settlement will be effected electronically through the STRATE system of the JSE and accordingly, certificates evidencing the Warrants will not be issued to Holders. Any capitalised terms referred to herein, and not defined, shall bear the meanings ascribed thereto in the Warrant issue documentation. Date: 15 December 2015 Copies of the offering circular may be obtained from: Investec Bank Limited 100 Grayston Drive Sandown Sandton 2196 Copies of Warrant issue documentation can be located on: Internet: www.investec.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 Warrants Tel.: 0860 103 343 E-mail: warrants@investec.co.za Sponsor: Investec Securities (Pty) Ltd Member of the JSE Registration Number: 1972/008905/07 Date: 15/12/2015 10:13:00 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.