IPFIVA- Termination INVESTEC BANK LIMITED JSE SHARE CODE: IPFIVA JSE ISIN CODE: ZAE000162939 Investec Variable Strike Warrant: Terminated Variable Strike Warrant IPFIVA Announcement. Adjusted Exercise Share Price per Share Expiry Date Cover Ratio Call/Put Style JSE Code Investec Property IPFIVA Fund Limited 0.01 24/07/2019 1:1 Call European ZAE000162939 As a result of the latest “Interest Distribution” of R0.7016 (the Ex Date being 13 June 2018) an adjustment has been made to the exercise price to ensure the financial position of the warrant holders is unprejudiced. Investec Bank Limited, as Issuers of the abovementioned warrant IPFIVA, would like to advise Holders, that due to the new adjusted exercise price of R0.01, effective 13 June 2018, IPFIVA has been suspended for trading and will terminate. Holders are entitled to receive the linked units, being Investec Property Fund Limited JSE share code IPF ISIN ZAE000180915, at the new exercise price of R0.01 per unit held, together with the balance of the cash payment being the R 0.7016 distribution less the R0.35099 final pay down of the strike (equaling R0.35061 per unit held). This will automatically accrue to holders via instruction to STRATE. 13 June 2018 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.: 0860 103 343 E-mail: warrants@investec.co.za Internet: www.investecwarrants.com Sponsor Investec Securities (Pty) Limited Member of the JSE Registration number. 1972/008905/07 Date: 13/06/2018 03:50:00 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.