Notification Of Adjustment Event - Structured Product Notes - IBLIIQ INVESTEC BANK LIMITED NOTIFICATION OF ADJUSTMENT EVENT - STRUCTURED PRODUCT NOTES (NOTES) – IBLIIQ Investec Structured Product Notes Commencement Date: 20 January 2022 Index Basket of Shares Shares Naspers Limited (JSE: NPN) Tencent Holdings Limited (Hong Kong: 700HK) Strike Price ZAR1,000 Expiry Date 24 August 2022 Cover Ratio 1:1 Call/Put/Other Call Style European Issue Size 3,000,000 JSE Code IBLIIQ ISIN Code ZAE000301354 On 23 December 2021, Tencent Holdings Limited (“Tencent”) announced the declaration of a special interim dividend by way of distribution in specie of Class A ordinary shares of JD.com, Inc. Qualifying shareholders in Tencent will receive 1 ordinary share of JD.com for every 21 shares held, being rounded down to the nearest whole number of JD.com shares. For further information, please refer to: https://static.www.tencent.com/uploads/2021/12/23/0a56695c42cb7f085ad7e3d640125e7a.pdf Key dates in the timeline are as follows: Last day for dealing in the Shares on a cum-entitlement basis Wednesday, 19 January 2022 Commencement of dealing in the Shares on an ex-entitlement basis Thursday, 20 January 2022 Dispatch of share certificates and CCASS settlement Friday, 25 March 2022 Treatment: Certificate holders are advised that the value of each Stub note certificate will be adjusted by the ZAR equivalent value of the abovementioned distribution in specie of Class A ordinary shares of JD.com, as determined by Investec Bank Ltd in their capacity as calculating agent. The certificate adjustment shall be effective Thursday, 20 January 2022. Calculation: Short Equity Quantity per Basket: -1.220652463 JD.com Dividend in specie per basket -0.058126308 (A) Hedge price of JD.com (HKD) 281.4 (B) HKDZAR 1.9857 (C) ZAR Adjustment Amount -32.48 (A x B x C) Effective date: The ZAR adjustment amount shall be applied to each certificate, effective 20 January 2022. Any capitalised terms referred to herein, and not defined, shall bear the meanings ascribed thereto in the Note issue documentation. Date: 20 January 2022 Copies of the offering circular may be obtained from: Investec Bank Limited 100 Grayston Drive Sandown Sandton 2196 Copies of Warrant issue documentation can be located on: Internet: www.investecwarrants.com 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 For further information kindly contact: Investec Financial Products Tel.: +27 11 286 9663 E-mail: FPRetail@investec.co.za Sponsor: Investec Bank Limited Member of the JSE Registration Number: 1969/004763/06 Date: 20-01-2022 05:06:00 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.