Expiry Notice - ESPIBZ - 1st Announcement INVESTEC BANK LIMITED EXPIRY OF EQUITY STRUCTURED PRODUCTS (ESP) Share S&P 500 Index Strike Price 1341.45 Expiry Date 25/01/2016 Cover Ratio 1:1 Call/Put Put Style Other Bermudan Issue Size 4,172 JSE Code ESPIBZ ZAE000169546 Investec Bank Limited (“Investec”), as Issuer of the above Equity Structured Product (ESP), hereby reminds holders of their imminent option expiry on 25 January 2016 (see the related securities above). 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 and 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 02 February 2016. 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 so many of the Holder Underlying Securities required to settle the Premium and the Holder will then be entitled to delivery of the balance of the Holder Underlying Securities, through STRATE on 02 February 2016. Holders of ESPIBZ will be notified on Tuesday, 26 January 2016. 18 December 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.investec.com Sponsor Investec Securities (Pty) Ltd Member of the JSE Registration number. 1972/008905/07) Date: 18/01/2016 01:20:00 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.