Investec Bank plc announces Tender Offer

Investec Bank plc announces Tender Offer for its £420,000,000 Fixed Rate Reset Callable Subordinated Notes due 2028

Full announcement available via London Stock Exchange.

"28 November 2022. Investec Bank plc (the "Company") announces today an invitation to holders of its £420,000,000 Fixed Rate Reset Callable Subordinated Notes due 2028 (ISIN: XS1859228634) (the "Notes") to tender such Notes for purchase by the Company for cash (the "Offer").

The Offer is being made on the terms and subject to the conditions contained in a tender offer memorandum dated 28 November 2022 (the "Tender Offer Memorandum") prepared by the Company, and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum.

For detailed terms of the Offer, please refer to the Tender Offer Memorandum, copies of which are (subject to distribution restrictions) available from the Tender Agent as set out below. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Rationale for the Offer

The purpose of the Offer and the proposed issue of Sterling-denominated Callable Fixed Rate Resettable Subordinated Notes by Investec plc ("INP") (the "New Notes") is part of the Group's active management of its debt profile and capital base. The net proceeds from the issue of the New Notes will be used for the general financing purposes of INP, including (without limitation) the downstreaming of funds to the Company in the form of subordinated debt. Some or all of the downstreamed funds may be used by the Company to fund the repurchase of the Notes pursuant to the Offer."