INVESTEC BANK MAURITIUS LIMITED - Calculation agent determination in respect of a Benchmark Rate Replacement Event - IMRP4

Calculation agent determination in respect of a Benchmark Rate Replacement Event - IMRP4

Investec Bank (Mauritius) Limited
Incorporated in the Republic of Mauritius
Company Registration number 8752/3362
Business Registration number C09008752
JSE Share Code: IMRP4
JSE Issuer Share Code: IVES
ISIN: MU0455S00032
LEI Number: 213800VEN92NOOOJF520
(the “Issuer”)


CALCULATION AGENT DETERMINATION IN RESPECT OF A BENCHMARK RATE
REPLACEMENT EVENT AS CONTEMPLATED IN ITEM 64 OF THE APPLICABLE PRICING
SUPPLEMENT OF THE IMRP4 PROGRAMME PREFERENCE SHARES

Programme Preference Shareholders are hereby advised that, in accordance with the provisions of
item 64 of the Applicable Pricing Supplement in respect of the IMRP4 Programme Preference Shares,
the Calculation Agent has determined that

1)   a Benchmark Rate Replacement Benchmark Event has occurred in that USD LIBOR has been
     discontinued; and

2)   the Replacement Benchmark Rate will, with effect from and including 31 August 2023, be Term
     SOFR plus the Credit Adjustment Spread plus the Margin.

     For these purposes the following definitions will be applicable:

     "SOFR" means the secured overnight financing rate (SOFR) administered by the Federal
     Reserve Bank of New York (or any other person which takes over the administration of that rate)
     published (before any correction, recalculation or republication by the administrator) by the
     Federal Reserve Bank of New York (or any other person which takes over the publication of that
     rate). If, for whatever reason, Term SOFR is not published on the rate setting date as stated
     above, then the rate used will be that as published by the relevant administrator/website for the
     first preceding Business Day, for which such rate was published on such administrator’s website
     so long as such first preceding Business Day is not more than five (5) Business Days prior to
     the rate setting date;

     “Term SOFR” means, in relation to a Dividend Period, the forward-looking term SOFR
     administered by CME Group Benchmark Administration Limited (or any other person which
     takes over the administration of that rate) for a period of 3 months, as published by CME Group
     Benchmark Administration Limited (or any other person which takes over the publication of that
     rate) as of 6:00 a.m. (New York City time) on the relevant Dividend Rate Determination Date
     (before any correction, recalculation or republication by the administrator);

     “Credit Adjustment Spread” means 0.26161%, being the fixed spread adjustment announced
     by the International Swaps and Derivatives Association, Inc in respect of 3 month USD LIBOR;

     “Dividend Rate Determination Date(s)” means two (2) Business Days before the first day of
     the Dividend Period;

     “Relevant Screen page and Reference Code” means CME Term SOFR 3 Month published
     on Bloomberg page TSFR3M Index”; and

     “Relevant Time” means 6:00.am New York City time

An amended and restated Applicable Pricing Supplement (the “Amended and Restated Applicable
Pricing Supplement”) will be issued by the Issuer to document the above amendments. The
Amended and Restated Applicable Pricing Supplements are available for inspection at the registered
offices of the Issuer and on the Issuer’s website at:

https://www.investec.com/en_mu/legal/mu/medium-term-note-and-preference-share-
programme.html


By order of the board


P Jeewooth
Company Secretary
Investec Bank (Mauritius) Limited


21 August 2023


Sponsor:
Investec Bank Limited

Date: 21-08-2023 04:45:00
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