Rebate Announcement for the expiry of SBKIHK and SOLIHN INVESTEC BANK LIMITED NOTICE OF REBATE Share Standard Bank Group Limited Strike Price R 116.00 Stop-Loss Level R 131.00 Expiry Date 15/12/2017 Cover Ratio 1:1 Call/Put Call Style American Issue Size 1,720,000 JSE Code SBKIHK ISIN Code ZAE000236493 Share Sasol Limited Strike Price R 296.00 Stop-Loss Level R 336.00 Expiry Date 15/12/2017 Cover Ratio 1:1 Call/Put Call Style American Issue Size 750,000 JSE Code SOLIHN ISIN Code ZAE000236501 Investec Bank Limited, as Issuers of the above SBKIHK and SOLIHN Hot Enhanced Distribution Security (HotEDS), advised holders that the abovementioned Hot Enhanced Distribution Security (HotEDS) expired on 15 December 2017. With respect to SBKIHK, the Rebate Payment, represented by the number of HotEDS held on the expiry 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 Expiry Date over the Exercise Price (Strike Price) of R 116.00. This amount will automatically accrue to holders via instruction through STRATE. The VWAP on, 18 December 2017 = R 185.184954 The VWAP on, 19 December 2017 = R 196.288126 The simple average of the 2 day VWAP = R 190.7365 Holders will receive R 74.7365 for every warrant held. With respect to SOLIHN, the Rebate Payment, represented by the number of HotEDS held on the expiry 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 Expiry Date over the Exercise Price (Strike Price) of R 296.00. This amount will automatically accrue to holders via instruction through STRATE. The VWAP on, 18 December 2017 = R 431.359683 The VWAP on, 19 December 2017 = R 401.859251 The simple average of the 2 day VWAP = R 416.6095 Holders will receive R 120.6095 for every warrant held. 20 December 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.investecwarrants.com Sponsor Investec Securities (Pty) Ltd Member of the JSE Registration number. 1972/008905/07) Date: 20/12/2017 10:50:00 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.