INVESTEC BANK MAURITIUS LIMITED - Notice: amendments to the applicable pricing supplement of the IMRP4

Notice: amendments to the applicable pricing supplement of the IMRP4

Investec Bank (Mauritius) Limited
Incorporated in the Republic of Mauritius
Company Registration number 8752/3362
Business Registration number C09008752
JSE Share Code: IMRP4
JSE Issuer Share Code: IVES
ISIN: MU0455S00032
LEI Number: 213800VEN92NOOOJF520
(IBM or the Bank)


NOTIFICATION OF AMENDMENTS TO THE APPLICABLE PRICING SUPPLEMENT OF THE IMRP4
REDEEMABLE UNSECURED LISTED PROGRAMME PREFERENCE SHARES ISSUED BY
INVESTEC BANK (MAURITIUS) LIMITED

Pursuant to paragraph 6.56(b)(vi) of the Debt Listings Requirements, notice was given to Programme
Preference Shareholders in relation to the amendments to the IMRP4 Applicable Pricing Supplement,
under IBM's ZAR6,000,000,000 Medium Term Note and Preference Share Programme Memorandum.

The written resolutions being proposed are as follows:

  SPECIAL RESOLUTION NUMBER 1 of the Programme Preference Shareholders - AMENDMENT
  OF THE TERMS OF THE PREFERENCE SHARES
  SPECIAL RESOLUTION NUMBER 2 of the Programme Preference Shareholders – WAIVER OF
  NOTICE PERIOD

The proposed amendments to the terms of the IMRP4 Preference Shares are as follows:


(i)      the deletion of the words "With effect from 31 August 2023 ("the Amendment Date")," and
         the insertion of the words "With effect from the Amendment Date (as defined in item 64
         below)," in the first paragraph of the Amended and Restated Applicable Pricing Supplement
         of the Programme Preference Shares;

(ii)     the deletion of clause 20 and the insertion of a new clause 20 as follows:

         "20.    Additional Business Centre New York";

(iii)    the deletion of clause 36(a) and the insertion of a new clause 36(a) as follows:

         "36(a) Dividend Rate(s)               the Reference Rate plus the Margin."

(iv)     the deletion of clause 36(b) of the Applicable Pricing Supplement and the insertion of a new
         clause 36(b) as follows:

        "36(b)   Dividend Payment Date(s)      the last calendar day of February, May, August and
                                               November and the Applicable Redemption Date,
                                               subject to adjustment in accordance with the
                                               Modified Following Business Day Convention,
                                               provided that the first Dividend Payment Date
                                               following the Amendment Date shall be the Dividend
                                               Payment Date that falls in August 2024.
                                               Each dividend shall be declared on the applicable
                                               Dividend Declaration Date."

(v)      the deletion of clause 38 of the Applicable Pricing Supplement and the insertion of a new
         clause 38 as follows:

         "38     Margin                        1.20% until but excluding the Amendment Date,
                                               0.72% from and including the Amendment Date, or
                                               the Adjusted Margin (as defined below), as
                                               applicable."

(vi)     the deletion of the definition of "Amendment Date" in item 64 of the Applicable Pricing
         Supplement and the insertion of a new definition of "Amendment Date" as follows:

         "Amendment Date" means 31 May 2024."

(vii)    the deletion of the definition of "Credit Spread" in item 64 of the Applicable Pricing
         Supplement;

(viii)   the deletion of the definition of "Hedging Costs" in item 64 of the Applicable Pricing
         Supplement;

(ix)     the deletion of the definition of "Repricing Date" in item 64 of the Applicable Pricing
         Supplement; and

(x)      the deletion of C(5) "Change in Hedging Costs", in item 64 of the Applicable Pricing
         Supplement; in its entirety.

The applicable Record Date for the this Notice was 17 May 2024.

Programme Preference Shareholders that hold beneficial interests in the Programme Preference
Shares must lodge a copy of the Programme Preference Shareholder Resolution with the Central
Securities Depository Participant that provided them with the Notice and the Programme Preference
Shareholder Resolution.

A signed copy of the Programme Preference Shareholder Resolution must also be emailed to
Investec Bank Limited to Rooksana.Saleh@investec.co.za by no later than 17h00 on 20 May 2024.

The results of written extraordinary resolution will be released on SENS within 48 hours after the
required approval percentage is obtained.

By order of the board

P Jeewooth
Company Secretary
Investec Bank (Mauritius) Limited

20 May 2024

Sponsor:
Investec Bank Limited

Date: 20-05-2024 11:40:00
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