Adjustment Announcement - BVTIHB INVESTEC BANK LIMITED ADJUSTMENT TO THE UNDERLYING OF HOT ENHANCED DIVIDEND SECURITY JSE SHARE CODE: BVTIHB JSE ISIN CODE: ZAE000210548 Share The Bidvest Group Limited (BVT) & BidCorp Limited (BID) Strike Price R265.00 Barrier Price R295.00 Expiry Date 2016/09/28 Cover Ratio 1:1 Call/Put Call Style American Issue Size 260 000 JSE Code BVTIHB Please be advised that an adjustment will be made to the underlying instrument of BVTIHB due to the unbundling of the Bidvest Group Limited shares. Holders are referred to the Bidvest Group Limited SENS announcement which was released on 16 May 2016 detailing the results of the General Meeting of Bidvest Shareholders and Finalisation Information in relation to the Unbundling of the shares. This adjustment will be effective from Monday, 30 May 2016. The warrant is exercisable only in accordance with the terms and conditions as set out in the relevant offering circular. This adjustment has been made due to the fact that the above mentioned HED product will now have a basket of BVT and BID shares as its underlying. 26 May 2016 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.investecwarrants.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 Limited Member of the JSE Registration Number: 1972/008905/06 Date: 26/05/2016 11:49:00 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.