Fitch Ratings upward revision to National Ratings Investec Bank Limited Incorporated in the Republic of South Africa Registration number 1969/004763/06 JSE Share Code: IBRP1 ISIN: ZAE000242525 Investec Bank Limited Investec Bank Limited: Fitch Ratings upward revision to National Ratings Shareholders and noteholders are referred to the Fitch Ratings (Fitch) press release on 28 April 2020 where Fitch announced an upward revision to five South African banks' National Long-Term Ratings, including Investec Bank Limited, to 'AA(zaf)' from 'AA-(zaf)'. National scale ratings are a risk ranking of issuers in a particular market designed to help local investors differentiate risk. According to Fitch, this rating action follows the recalibration of the South African National Rating scale following the downgrade of the sovereign on 3 April 2020 and restores the rating relativities between the banks and the best credits in the country as they were before the March and April negative rating actions on the banks and the sovereign, respectively. Ratings revisions are used by Fitch to modify ratings for reasons that are not related to changes in credit quality. The specific rating changes for Investec Bank Limited are as follows: To From National long-term rating AA(zaf) AA-(zaf) Subordinated National long-term rating A+(zaf) A(zaf) Fitch’s press release can be accessed on: www.fitchratings.com. 30 April 2020 N van Wyk Company Secretary Investec Bank Limited Sponsor: Investec Bank Limited Date: 30-04-2020 01:00:00 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.