INVESTEC PLC                                          INVESTEC LIMITED
(Incorporated in England and Wales)                   (Incorporated in the Republic of South Africa)
(Registration number 3633621)                         (Registration number 1925/003833/06)
LSE share code: INVP                                  JSE share code: INL
JSE share code: INP                                   JSE hybrid code: INPR
ISIN: GB00B17BBQ50                                    JSE debt code: INLV
LEI:2138007Z3U5GWDN3MY22                              NSX Share code: IVD
                                                      BSE share code: INVESTEC
                                                      ISIN: ZAE000081949
                                                      LEI:213800CU7SM6O4UWOZ70

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT
LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

2 August 2023

     Further announcement in relation to combination of Investec Wealth & Investment UK Limited and
                                           Rathbones Group plc

Further to the announcements dated 4 April 2023 regarding an all-share combination of Investec Wealth &
Investment Limited (“Investec W&I UK”) and Rathbones Group Plc (“Rathbones”) (the “Combination”), Investec
plc (“Investec Group”) is pleased to confirm that all regulatory clearances in connection with the Combination
have been received.

Accordingly, Completion of the Combination and the issue of the Consideration Shares to Investec Group is now
anticipated to occur on 21 September 2023, subject to: (i) the Financial Conduct Authority and London Stock
Exchange agreeing to admit the Consideration Shares to the premium listing segment of the Official List and to
trading on the London Stock Exchange's Main Market for listed securities; and (ii) no material adverse change
having occurred in respect of either Rathbones or Investec W&I UK.

Unless otherwise defined, defined terms used in this announcement shall have the meaning given to them in
the Investec Group announcement of the Combination on 4 April 2023.

Completion will mark the beginning of a long-term strategic partnership between Investec and Rathbones
that will enhance the client proposition across banking and wealth management services for both groups.
Investec will own 41.25% of the economic interest (29.9% voting rights) in the combined group’s enlarged share
capital, reflecting our commitment to the attractive UK wealth management sector.

Enquiries:

Investec plc
Tel: +27 (0) 11 291 0129
Qaqambile Dwayi, Investor Relations

Fenchurch Advisory Partners (Joint Financial Adviser to Investec Group)
Tel: +44 20 7382 2222
Malik Karim, Graham Marchant, Tom Murphy, Josh Needham

Investec Investment Banking (Joint Financial Adviser and Joint Corporate Broker to Investec Group)
Tel: +44 20 7597 5970
Christopher Baird, Tom Lewin, Sean Crookes

Investec Bank Limited (JSE Equity Sponsor to Investec Group)
Tel: +27 11 286 7000
Monique Otto

Brunswick (South Africa PR advisers to Investec Group)
Tel: +27 (0) 63 685 6053
Graeme Coetzee

Lansons (UK PR advisers to Investec Group)
Tel: +44 (0) 78 6010 1715
Tom Baldock




Important notices:

The information contained in this announcement is inside information as stipulated under the UK Market Abuse
Regulation. Upon publication of this announcement, this inside information is now considered to be in the public
domain. The person responsible for arranging this announcement on behalf of Investec Group is David Miller,
Company Secretary.

This announcement is for information purposes only and is not intended to, and does not, constitute or form part
of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this
announcement or otherwise.

The release, distribution or publication of this announcement in jurisdictions outside the United Kingdom may be
restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement
comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the
restrictions may constitute a violation of the securities law of any such jurisdiction.

This announcement contains certain forward-looking statements, beliefs or opinions, with respect to the
potential outlook for the Enlarged Rathbones Group. These statements, indicated by the words "would",
"envisage", "believe" and "may", and words of similar meaning, reflect Rathbones and Investec Group's beliefs
and expectations and are based on numerous assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially. No representation is made that any of these statements or forecasts will
come to pass. Forward-looking statements involve inherent known and unknown risks, uncertainties and
contingencies because they relate to events and depend on circumstances that may or may not occur in the future
and may cause the actual results, performance or achievements of Rathbones, Investec Group or the Enlarged
Rathbones Group to be materially different from those expressed or implied by such forward looking statements.
Many of these risks and uncertainties relate to factors that are beyond Rathbones, Investec Group and/or the
potential Enlarged Rathbones Group's ability to control or estimate precisely and you are therefore cautioned
not to place undue reliance on such forward-looking statements.

Fenchurch Advisory Partners LLP ("Fenchurch"), which is authorised and regulated by the Financial Conduct
Authority, is acting exclusively for Investec Group and no one else in connection with the matters referred to in
this announcement. Fenchurch will not be responsible to anyone other than Investec Group for providing the
protections afforded to clients of Fenchurch, nor for providing advice in relation to the contents of, or matters
referred to in, this announcement. Neither Fenchurch nor any of its affiliates owes or accepts any duty, liability
or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Fenchurch in connection with the matters referred to in this announcement,
or otherwise.

Investec Bank plc ("Investec Investment Banking"), which is authorised by the Prudential Regulation Authority
(the "PRA") and regulated by the Financial Conduct Authority and PRA in the United Kingdom, is acting exclusively
as financial adviser to Investec Group and for no one else in connection with the matters referred to in this
announcement and will not be responsible to any person other than Investec Group for providing the protections
afforded to clients of Investec Group, nor for providing advice in relation to the content of this announcement or
any matter referred to in this announcement. Neither Investec nor any of its subsidiaries, branches or affiliates
owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract,
in tort, under statute or otherwise) to any person who is not a client of Investec Group in connection with this
announcement, any statement contained herein or otherwise.