Slade was sent off for a dangerous tackle on Bulls full-back Kurt-Lee Arendse in a 39-28 Heineken Champions Cup defeat in Pretoria on Saturday night.
The decision was overturned by an independent disciplinary hearing after it was decided that, while the Chiefs centre had committed an act of foul play, it was not a red-card offence, European Professional Club Rugby announced on Wednesday.
It clears Slade to face Castres in Exeter’s final pool game on Saturday as well as compete with Owen Farrell, Manu Tuilagi, Joe Marchant, Elliot Daly and Dan Kelly for a place in England’s midfield.
More follows.