Investec Limited                                               Investec plc
Incorporated in the Republic of South Africa                   Incorporated in England and Wales
Registration number 1925/002833/06                             Registration number 3633621
JSE share code: INL                                            LSE share code: INVP
NSX share code: IVD                                            JSE share code: INP
BSE share code: INVESTEC                                       ISIN: GB00B17BBQ50
ISIN: ZAE000081949                                             LEI: 2138007Z3U5GWDN3MY22
LEI: 213800CU7SM6O4UWOZ70



As part of the dual listed company structure, the boards of Investec plc and Investec Limited (together the
“Board”) notify both the London Stock Exchange and the JSE Limited of matters which are required to be
disclosed under the Disclosure Guidance and Transparency Rules, and Listing Rules of the United Kingdom
Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

Accordingly, we advise of the following:


INVESTEC LIMITED ORDINARY SHARE REPURCHASE

Investec Limited (the “Company”) hereby advises that further to the share programme announced on 21
November 2022, the Company has repurchased 9,289,389 Investec Limited Ordinary Shares by 16 February
2023, representing 3.01% of the issued Ordinary Share capital as at the date of the current general authority
to repurchase the Ordinary Shares.


The Ordinary Shares remaining in issue following these repurchases amounts to 301 026 915, of which 1 408
434 are still to be cancelled.

The Ordinary Shares were repurchased for an aggregate value of R992,021,985.38.

              Number             Highest price       Lowest price per         Aggregate value (R)
           of Ordinary           per Ordinary       Ordinary Share (R)
               Shares               Share (R)
         repurchased
        9,289,389                 115.20                    97.42                R992,021,985.38


The repurchases were made in terms of the current general authority and were effected through the order book
on the JSE trading system without any prior understanding or arrangement between the Company and the
counterparties. The buy-back took place outside the closed period, in accordance with the JSE Listings
Requirements. Accordingly, the Company has complied with paragraph 5.72 (a) of the JSE Listings
Requirements

Application will be made to the JSE to de-list 1 408 434 Ordinary Shares at which point they will immediately
be cancelled. 7,880,955 have already been cancelled.

The Ordinary Shares were repurchased from excess cash resources of the Company. The Company’s cash
balances decreased by R992 021 985.38 as a result of the repurchase. The repurchase of shares will result
in a lower weighted average of shares in issue used to calculate earnings per share in future years.


OPINION OF THE BOARD OF THE COMPANY

The board of the Company has considered the effect of the repurchases and is of the opinion that:

•   The Company and the Company and its subsidiaries (“the Group”) will be able, in the ordinary course of
    business, to repay their debts for a period of 12 months after the date of this announcement.
•   The consolidated assets of the Company and the Group will be in excess of the consolidated liabilities of
    the Company and the Group for a period of 12 months after the date of this announcement.
•   The Company’s and the Group’s share capital and reserves will be adequate for the purposes of the
    business of the Company and the Group for a period of 12 months after the date of this announcement;
    and
•   The Company and the Group will have sufficient working capital for ordinary business purposes.


Johannesburg
17 February 2023

Sponsor
Investec Bank Limited