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 (together
“Investec”) notify both the London and Johannesburg Stock Exchanges of matters which are
required to be disclosed under the Disclosure Guidance and Transparency Rules and the
Listing Rules of the Financial Conduct Authority (the “FCA”) and/or the JSE Listings
Requirements.

Accordingly, we advise of the receipt of the following TR-1 notification:

            TR-1: Standard form for notification of major holdings

1. Issuer Details
 ISIN
  GB00B17BBQ50
 Issuer Name
  INVESTEC PLC
 UK or Non-UK Issuer
  UK
2. Reason for Notification
  An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
 Name
  Allan Gray Proprietary Limited
 City of registered office (if applicable)
  Cape Town
 Country of registered office (if applicable)
  South Africa
4. Details of the shareholder
  Full name of shareholder(s) if different from the person(s)
  subject to the notification obligation, above


  City of registered office (if applicable)
 Country of registered office (if applicable)


5. Date on which the threshold was crossed or reached
  25-Nov-2022
6. Date on which Issuer notified
  30-Nov-2022
7. Total positions of person(s) subject to the notification
obligation
                                             % of voting
                         % of voting         rights through
                                                                 Total of both   Total number of
                         rights attached     financial
           .                                                     in % (8.A +     voting rights
                         to shares (total    instruments
                                                                 8.B)            held in issuer
                         of 8.A)             (total of 8.B 1 +
                                             8.B 2)

  Resulting
  situation on the
  date on which
                          3.932200            0.000000            3.932200        27379575
  threshold was
  crossed or
  reached

  Position of
  previous
                          4.139600            0.000000            4.139600
  notification (if
  applicable)

8. Notified details of the resulting situation on the date on which
the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of       Number of direct        Number of                            % of indirect
                                                              % of direct voting
shares ISIN code(if voting rights           indirect voting                      voting rights
                                                              rights (DTR5.1)
possible)           (DTR5.1)                rights (DTR5.2.1)                    (DTR5.2.1)

GB00B17BBQ50          27379575                                   3.932200

Sub Total 8.A         27379575                                   3.932200%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
                                                        Number of voting rights that
                                                                                         % of
Type of financial   Expiration Exercise/conversion      may be acquired if the
                                                                                         voting
instrument          date       period                   instrument is
                                                                                         rights
                                                        exercised/converted
Sub Total 8.B1

8B2. Financial Instruments with similar economic effect
according to (DTR5.3.1R.(1) (b))
    Type of                                                                                    % of
                     Expiration   Exercise/conversion     Physical or cash    Number of
    financial                                                                                  voting
                     date         period                  settlement          voting rights
    instrument                                                                                 rights
    Sub Total 8.B2

   9. Information in relation to the person subject to the
   notification obligation
    1. Person subject to the notification obligation is not controlled by any
    natural person or legal entity and does not control any other
    undertaking(s) holding directly or indirectly an interest in the
    (underlying) issuer.
                                        % of voting           % of voting rights         Total of both if it
                       Name of          rights if it equals   through financial          equals or is
    Ultimate
                       controlled       or is higher than     instruments if it equals   higher than the
    controlling person
                       undertaking      the notifiable        or is higher than the      notifiable
                                        threshold             notifiable threshold       threshold


   10. In case of proxy voting
     Name of the proxy holder


     The number and % of voting rights held


     The date until which the voting rights will be held


   11. Additional Information


   12. Date of Completion
     30-Nov-2022
   13. Place Of Completion
     Cape Town, South Africa.




Johannesburg and London
30 November 2022
Sponsor: Investec Bank Limited