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Structured investment profile substitution and partial redemption notice
STRUCTURED INVESTMENT PROFILE SUBSTITUTION AND PARTIAL
REDEMPTION NOTICE FOR FLEXIBLE INVESTMENT NOTE FNIB03
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004763/06)
LEI No: 549300RH5FFHO48FXT69
Underlying Asset Nikkei 225 Index
Issue Size 1 700 000
JSE Code FNIB03
ISIN Code ZAE000338638
We refer to the terms and conditions of the Flexible Investment Notes, as set out in the Programme
Memorandum and the Pricing Supplement governing the applicable Notes. Unless the context
indicates otherwise capitalised terms defined therein shall bear the same meanings herein.
The Holders of the Flexible Investment Notes FNIB03 (Notes) are hereby notified that a potential
Exercise in respect of the current Structured Investment Profile (Investment Profile No. 2) may occur if
the Reference Level of the Reference Asset (being the Nikkei 225 Index) is greater than or equal to
the Initial Index Level on 19 August 2026 (potential Exercise Date).
If the Exercise occurs on the aforesaid potential Exercise Date, the Investment Return in respect of
Investment Profile No. 2 is anticipated to be 15.1%, with the following salient details:
Investment Return Amount per Note R1,357.029
Last Date to Trade Tuesday, August 11, 2026
Ex-Date Wednesday, August 12, 2026
Election Closing Date Friday, August 14, 2026
Record Date Friday, August 14, 2026
Valuation Date Wednesday, August 19, 2026
Update announcement including the cash settlement rate Thursday, August 20, 2026
Reset Date Friday, August 21, 2026
Cash Settlement Date (Non-Accepting Holders only) Wednesday, August 26, 2026
The payment to Non-Accepting Holders will be processed via the secondary market and not through a
corporate action.
In accordance with the terms and conditions of the Notes, the Issuer hereby elects to substitute
Investment Profile No. 2 with a Subsequent Structured Investment Profile based on the salient details
set out below (Investment Profile No. 3) which (i) will substitute and replace Investment Profile No. 2 on
the above mentioned Reset Date if the Exercise occurs on the potential Exercise Date, and (ii) will apply
to calculate the Investment Return for the Subsequent Calculation Period for Investment Profile No. 3.
Holders of the Notes are entitled to remain invested in the Notes for the Subsequent Calculation Period
that may commence on the Reset Date identified above (if the Exercise occurs on the abovementioned
potential Exercise Date), by confirming their acceptance of Investment Profile No. 3 by the Election
Closing Date set-out below. Such Holders will not be redeemed on the Early Redemption Date
corresponding with the abovementioned Reset Date.
Any Holder who does not, by the Election Closing Date, confirm acceptance of Investment Profile No.
3 in respect of some or all of the Notes held by that Holder (Non-Accepting Holder) will be deemed not
to have accepted Investment Profile No. 3 in respect of those Notes, and (i) if the Exercise of the Notes
occurs on the abovementioned potential Exercise Date, (ii) those Notes will be redeemed on the Early
Redemption Date corresponding with the abovementioned Reset Date, and (iii) the Cash Settlement
Amount per Note, in an amount equal to the abovementioned Investment Return Amount per Note, will
be paid to the Non-Accepting Holders on the Cash Settlement Date identified above.
The Holder may (either directly or through its authorised representative) make the election by selecting
one of the below options.
Holders should contact their investment manager should they wish to remain invested for some, but not
all of their Notes, or should they wish to subscribe for additional Notes for the Subsequent Structured
Investment Profile at the FIN Price, which would be equal to the anticipated Investment Return Amount
set out above if the Notes Exercise on the abovementioned potential Exercise Date.
Notwithstanding any of the above, should Investment Profile No. 2 not Exercise on the potential
Exercise Date identified above the Investment Profile No. 2 will continue until the next potential Exercise
Date and Investment Profile No. 3 will not apply, or should the JSE not approve Investment Profile No.
3, then the Investment Profile No. 3 will not be available as a Subsequent Structured Investment Profile
for the Note.
Terms of Investment Profile No. 3
Investment Profile No. 3 Investec ZAR Nikkie 225 Autocall
Exchange Johannesburg Stock Exchange (JSE)
Listing Code FNIB03
Equal to Investment Return Amount per Note for
Notional per Note
Investment Profile No. 2 being R1 357.029
Currency Rand
Reference Asset Nikkei 225 Index
Autocall return of 16.5%* per period (simple), in Rand,
if the Reference Asset Return is greater than or equal
Investment Return on Notional
to zero on an Autocall Valuation Date or the Final
Valuation Date.
Maximum term of 5 years and 1 month. Annual
Autocall Valuation Dates with the first Autocall
Calculation Period
Valuation Date being approximately 1 year and 1
month after the Initial Valuation Date
100% of the Notional per Note if held to the Final
Valuation Date, in Rand, provided the Reference Asset
Capital Protection
does not decrease by more than 30% on the Final
Valuation Date.
Initial Index Level Reference Level on the Initial Valuation Date
Final Index Level Reference Level on the Final Valuation Date
Commencement of Investment Profile
21 August 2026
No. 3
Final Valuation Date 17 September 2031
*Indicative – the final level will be set on the trade date
Option 1 Option 2 Default
Accept Investment Profile No. 3 Pay-out the Cash Settlement Pay-out the Cash Settlement
which will be applicable for the Amount Amount
Subsequent Calculation Period.
Date: 21 July 2026
Copies of the offering circular may be obtained from: For further information kindly contact:
Investec Bank Limited Investec Financial Products
100 Grayston Drive Tel.: +27 11 286 9663
Sandown E-mail: FPRetail@investec.co.za
Sandton
2196
Copies of Warrant issue documentation can be Sponsor:
located on: Investec Bank Limited
Internet: www.investecwarrants.com Member of the JSE
Registration Number: 1969/004763/06
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
Date: 21-07-2026 03:30:00
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