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


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

Accordingly, we advise of the following:

Pillar III quarterly disclosures at 31 December 2023

Capital adequacy and leverage disclosures
Investec plc and Investec Limited calculate capital resources and requirements using the Basel III
framework, as implemented in their respective jurisdiction by the Prudential Regulation Authority and South
African Prudential Authority.

The following table sets out the capital and leverage metrics for the Investec plc group, Investec Limited
group and Investec Bank Limited group (IBL):

                                                                  Investec             Investec                    IBL
                                                                      plc^*            Limited^
                                                                  £’million            R’million            R’million
 Common Equity Tier 1 ratio**                                        11.5%                13.0%               16.0%
 Tier 1 ratio                                                        12.8%                14.4%               17.2%
 Total capital ratio                                                 16.5%                17.0%               20.0%
 Risk weighted assets                                               19 034              291 569              272 577
 Leverage ratio                                                       8.9%                 6.1%                7.0%

^ The information for Investec plc includes the information for Investec Bank plc. The information for Investec Limited includes the
   information for IBL.
* Investec plc’s capital and leverage ratios exclude quarterly profits and associated foreseeable charges and dividends for the
   period 1 October to 31 December 2023. In accordance with the Prudential Regulation Authority rules, quarterly profits may only
   be included in a firm’s capital position once the profits have been independently verified by an external audit firm.
** Investec Limited’s and IBL’s capital information includes unappropriated profits. If unappropriated profits are excluded from capital
   information, Investec Limited’s and IBL’s CET1 ratio would be 34bps and 43bps lower respectively and leverage ratio would be
   15bps and 17bps lower respectively.

Liquidity Disclosures

Liquidity coverage ratio (LCR) and net stable funding ratio (NSFR)
The objective of the LCR is to promote the short-term resilience of the liquidity risk profile of banks by
ensuring that they have sufficient high-quality liquid assets to survive a significant stress scenario lasting
30 calendar days. The NSFR promotes the resilience of the banking sector by requiring banks to maintain
a stable funding profile in relation to the composition of their assets and off-balance sheet activities on an
ongoing structural basis. By ensuring that banks do not embark on excessive maturity transformation that
is not sustainable, the NSFR is intended to reduce the likelihood that disruptions to a bank's funding sources
would erode its liquidity position, increase its risk of failure, and potentially lead to broader systemic risk.
The following table sets out the LCR and NSFR for the Investec plc group, IBL (solo basis) and IBL group:

                                              Investec plc*           IBL (solo basis) **         IBL consolidated
                                                                                                          group **
 Actual LCR                                              394%                      165.5%                     176.1%

 Actual NSFR                                             143%                      116.5%                     116.1%


* For Investec plc the LCR ratio disclosed is the trailing12-month average ratio and the NSFR ratio is the trailing 4-quarter average
   ratio.
** The values in the table are calculated as the simple average of 91 calendar daily values over the period 1 October 2023 to
   31 December 2023 for IBL (solo basis). IBL group values use daily values for IBL (solo basis), while those for other group entities
   use the average of October, November and December 2023 month-end values.


The detailed capital and liquidity disclosures for the above entities are available on the Investec website
in the quarterly Pillar 3 disclosure reports, as required by the relevant regulations.

29 February 2024
Sponsor: Investec Bank Limited