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Structured investment profile substitution
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004763/06)
LEI No: 549300RH5FFHO48FXT69
Underlying Asset Nikkei 225 Index
Issue Size 1 300 000
JSE Code FNIB01
ISIN Code ZAE000334280
STRUCTURED INVESTMENT PROFILE SUBSTITUTION AND PARTIAL REDEMPTION NOTICE FOR FLEXIBLE INVESTMENT NOTE [FNIB01]
We refer to the terms and conditions of the Flexible Investment Notes, as set out in the Programme
Memorandum and the Pricing Supplement governing the Notes. Unless the context indicates
otherwise capitalised terms defined therein shall bear the same meanings herein.
The Holders of the Flexible Investment Notes FNIB01 (Notes) are hereby notified that a potential
Exercise in respect of the current Structured Investment Profile (Investment Profile No. [1]) may occur
if the Reference Level of the Reference Asset (being the Nikkei 225 Index) is greater than or equal to
the Initial Index Level on 10th April 2026 (potential Exercise Date).
If the Exercise occurs on the aforesaid potential Exercise Date, the Investment Return in respect of
Investment Profile No.1 is anticipated to be 36%, with the following salient details:
Investment Return Amount per Note R1360.00
Last Date to Trade Friday, 27 March 2026
Ex-Date Monday, 30 March 2026
Election Closing Date Wednesday, 1 April 2026
Record Date Wednesday, 1 April 2026
Valuation Date Friday, 10 April 2026
Update announcement including the cash settlement rate Monday, 13 April 2026
Cash Settlement Date (Non-Accepting Holders only) Friday, 17 April 2026
Removal from Listing (Non-Accepting Holders only) Monday, 20 April 2026
In accordance with the terms and conditions of the Notes, the Issuer hereby elects to substitute
Investment Profile No.1 with a Subsequent Structured Investment Profile based on the salient details
set out below (Investment Profile No.2) (i) which will substitute and replace Investment Profile No.1
on the above mentioned Reset Date if the Exercise occurs on the potential Exercise Date, and (ii)
which will apply to calculate the Investment Return for the Subsequent Calculation Period for
Investment Profile No.2.
Holders of the Notes are entitled to remain invested in the Notes for the Subsequent Calculation
Period that may commence on the Reset Date identified above (if the Exercise occurs on the
abovementioned potential Exercise Date), by confirming their acceptance of Investment Profile No.2
by the Election Closing Date set-out below. Such Holders will not be redeemed on the Early
Redemption Date corresponding with the abovementioned Reset Date.
Any Holder who does not, by the Election Closing Date, confirm acceptance of Investment Profile No.
2 in respect of some or all of the Notes held by that Holder (Non-Accepting Holder) will be deemed
not to have accepted Investment Profile No.2 in respect of those Notes, and (i) if the Exercise of the
Notes occurs on the abovementioned potential Exercise Date, (ii) those Notes will be redeemed on
the Early Redemption Date corresponding with the abovementioned Reset Date, and (iii) the Cash
Settlement Amount per Note, in an amount equal to the abovementioned Investment Return Amount
per Note, will be paid to the Non-Accepting Holders on the Cash Settlement Date identified above.
The Holder may (either directly or through its authorised representative) make the election by
selecting one of the below options.
Holders should contact their investment manager should they wish to remain invested for some, but
not all of their Notes, or should they wish to subscribe for additional Notes for the Subsequent
Structured Investment Profile at the FIN Price, which would be equal to the anticipated Investment
Return Amount set out above if the Notes Exercise on the abovementioned potential Exercise Date.
Notwithstanding any of the above, should Investment Profile No.1 not Exercise on the potential
Exercise Date identified above, or should the JSE not approve Investment Profile No.2, then the
Investment Profile No.2 will not be available as a Subsequent Structured Investment Profile for the
Note.
Terms of Investment Profile No. 2
Investment Profile No.2 Autocall
Exchange Johannesburg Stock Exchange (JSE)
Listing Code FNIB01
Notional per Note Equal to Investment Return Amount per Note for
Investment Profile [R1360.00]
Currency Rand
Reference Asset Nikkei 225 Index
Investment Return on Notional 15%* per annum
Calculation Period Maximum 5 years, but may be subject to early
Exercise at the end of years 1, 2 , 3 or 4
Barrier 100% of the Nominal allocated to Investment Profile
No.1 in Rand provided the Final Index Level is not
below 30% of the Initial Index Level.
Initial Index Level Reference Level on the Initial Valuation Date (Trade
Date)
Final Index Level Reference Level on the Final Valuation Date (5 years)
Commencement of Investment Profile 10th April 2026
No.2
*Indicative – the final level will be set on the trade date
Option 1 Option 2 Default
Accept Investment Profile No.2 Pay-out the Cash Settlement Pay-out the Cash Settlement
which will be applicable for the Amount Amount
Subsequent Calculation Period.
Date: 10 March 2026
Copies of the offering circular may be obtained from: For further information kindly contact:
Investec Bank Limited Investec Financial Products
100 Grayston Drive Tel.: +27 11 286 9663
Sandown E-mail: FPRetail@investec.co.za
Sandton
2196
Copies of Warrant issue documentation can be Sponsor:
located on: Investec Bank Limited
Internet: www.investecwarrants.com Member of the JSE
Registration Number: 1969/004763/06
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
Date: 10-03-2026 04:22:00
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