Notice Consent - IBRP2 Investec Bank Limited Incorporated in the Republic of South Africa Company Registration number 1969/004763/06 JSE Share Code: IBRP2 ISIN: ZAE000264081 NOTICE TO THE HOLDERS OF THE IBRP2 INDEX-LINKED REDEEMABLE PROGRAMME PREFERENCE SHARES ISSUED BY INVESTEC BANK LIMITED (“THE ISSUER”) IN ACCORDANCE WITH ITS ZAR40,000,000,000 DOMESTIC MEDIUM TERM NOTE AND PREFERENCE SHARES PROGRAMME (“THE PROGRAMME”) 1. We refer to IBRP2 Programme Preference Shares (“the IBRP2 Programme Preference Shares”) issued by the Issuer on 30 October 2018 under ISIN number ZAE000264081 under the Programme. 2. The Issuer requested an amendment to the terms of the IBRP2 Programme Preference Shares by amending Additional Condition 7.7 of the Applicable Pricing Supplement to read as set out below: “7.7. Early Redemption at the option of the Issuer” The Programme Preference Shares may be redeemed at the option of the Issuer, at any time, on written notice to the Programme Preference Shareholder delivered in accordance with Condition 19 (Notices) of the Programme Preference Share Terms and Conditions (which notice shall be revocable) (“the Issuer Optional Redemption Notice”), on the Early Redemption Date for an aggregate amount of R2,500,000,000, based on the formula stipulated in Additional Condition 3.2 where the FIP is agreed to be equal to 1 and the UW is zero. 3. The Issuer hereby confirms that 100% of the holders of the IBRP2 Programme Preference Shares (“the IBRP2 Programme Preference Shareholders”) have voted and consented to the amendment requested by the Issuer. 4. The amendment to the Applicable Pricing Supplement is effective from 23 March 2020, the date on which the Issuer received formal written consent from the IBRP2 Preference Shareholders. Investec Bank Limited 23 March 2020 Sponsor: Investec Bank Limited Date: 23-03-2020 04:40:00 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.