Update to Programme Memorandum Investec Bank (Mauritius) Limited (Incorporated in the Republic of Mauritius) (Registration number: 8752/3362) NOTIFICATION OF AN UPDATE TO THE PROGRAMME MEMORANDUM Investec Bank (Mauritius) Limited (“the Issuer”) has received approval from the JSE Limited (“JSE”) in respect of its amended programme memorandum (“the Amended PM”) dated 1 July 2019 (“the Programme Date”), established in relation to the issuer’s ZAR6,000,000,000 Domestic Medium Term Note and Preference Share Programme. A summary of the changes effected in the Amended PM is provided below: - The terms and conditions have been updated for the following: • to insert additional terms and conditions to allow the Issuer to issue notes or preference shares which are credit linked, equity linked or indexed linked, or that are equity basket notes or equity basket preference shares; and • for amendments to the JSE Debt Listings Requirements (the Requirements), which includes but is not limited to, amendments to cater for the Part 1A of 2018 amendments to the Requirements and for paragraphs 7.26 and 7.27 of the Requirements; - The Risk Factors section has been removed from the Amended PM and will be published on the Issuer’s website at https://www.investec.com/en_mu/legal/mu/medium-term-note-and-preference- share-programme.html; - The Overview of the Regulatory Capital Requirements section has been removed from the Amended PM and will be published on the Issuer’s website at https://www.investec.com/en_mu/legal/mu/medium-term-note-and-preference-share- programme.html; - The Description of the Issuer section, including, but not limited to, its business, management, directors and corporate governance disclosure has been removed from the Amended PM and will be published on the Issuer’s website at https://www.investec.com/en_mu/legal/mu/medium-term- note-and-preference-share-programme.html; and - the South African Exchange Control section has been removed from the Amended PM and will be published on the Issuer’s website at https://www.investec.com/en_mu/legal/mu/medium-term-note- and-preference-share-programme.html. The Amended PM supersedes and replaces the previous Programme Memorandum in its entirety, and securities issued under the Programme on or after the Programme Date are subject to the provisions described herein. The Amended PM does not affect any securities issued before the Programme Date and the previous Programme Memorandum will continue to apply to such securities, as applicable. The Amended PM is available for inspection at the registered office of the Issuer and has been made available for inspection on its website at https://www.investec.com/en_mu/legal/mu/medium-term-note- and-preference-share-programme.html. The Amended PM will also be available for inspection on the JSE’s website at www.jse.co.za. 1 August 2019 Investec Bank Limited Debt Sponsor Date: 01/08/2019 03:44:00 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.