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
JSE hybrid code: INPR                                                           JSE share code: INP
JSE debt code: INLV                                                             ISIN: GB00B17BBQ50
NSX share code: IVD                                                             LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70

Erratum in funds under management (FUM) disclosed in the Group pre-close trading update

26 September 2023


In the trading update released on Friday, 22 September 2023, the UK Wealth & Investment FUM as at 31 August
2023, was erroneously disclosed as £42 293 million instead of £40 293 million. Accordingly, the Group FUM
decreased by 2.0% since 31 March 2023 to £59 357 million not the previously disclosed increase of 1.3%. The
net inflows numbers and associated commentary were accurately reported.

The following announcement commentary regarding FUM performance is updated as follows, and is substantially
unchanged, saved for the change described above.

         The Wealth & Investment business funds under management (FUM) decreased by 2.0% to £59.4 billion,
          an increase of 0.6% in neutral currency. The positive net inflows of £325 million from discretionary
          FUM reflect the uncertain economic backdrop which is characterised by the cost of living crisis and
          higher interest rates which negatively impacted discretionary inflows from our UK business. In the
          Southern African business, net discretionary inflows of R7.5 billion were partly offset by net outflows
          of R1.9 billion in non-discretionary FUM.

For further information please contact:
Investec Investor Relations
General enquiries: investorrelations@investec.co.za

Results:
Qaqambile Dwayi
SA Tel: +27 (0)83 457 2134

Brunswick (SA PR advisers)
Graeme Coetzee Tel: +27 (0)63 685 6053

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


Key income drivers

  Updated Funds under Management
                                                                                                     Neutral currency
  £'m                                                  31-Aug-23      31-Mar-23        % change
                                                                                                        % change
  Total Wealth & Investment FUM                          59,357         60,577          (2.0%)            0.6%


        UK and Other                                     40,293         40,747          (1.1%)             (1.1%)
         Discretionary                                   34,860         35,291          (1.2%)             (1.2%)
          Non-discretionary                              5,433           5,456          (0.4%)            (0.4%)
        Southern Africa                                  19,064         19,830          (3.9%)             4.2%
          Discretionary and annuity                      10,638         10,704          (0.6%)             8.2%
          Non-discretionary                              8,426           9,126          (7.7%)            (0.4%)


  Specialist Bank                                           -             382           (100%)            (100%)


  Total FUM                                              59,357         60,959          (2.6%)             (0.0%)




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About Investec
Investec Group (comprising Investec plc and Investec Limited) partners with private, institutional, and corporate
clients, offering private banking, wealth management, corporate and investment banking, and investment
services in two principal markets, South Africa and the UK, as well as certain other countries. The Group was
established in 1974 and currently has approximately 8,700 employees.

In 2002, Investec implemented a dual listed company structure with listings on the Johannesburg and London
Stock Exchanges.


Johannesburg and London

JSE Equity Sponsor: Investec Bank Limited




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