Investec Limited (JSE:INL) News - Investec Limited Ordinary Share Buyback

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 BUYBACK

Investec Limited (the “Company”) hereby advises that at the annual general meeting held on 5 August 2021
(“the AGM”), shareholders were advised that the board of the Company may resolve to repurchase Ordinary
Shares if this action is considered desirable and in the best interests of shareholders.

Shareholders were further advised that any repurchases under the general authority proposed to be granted
by shareholders, would be within certain pre-determined price limits with specific reference to the limits of
the authority granted by the Company’s shareholders as well as the JSE’s Listings Requirements. At the
AGM, shareholders granted a general authority to the board of the Company to repurchase up to 20% of the
issued Ordinary Share capital of Company (“the current general authority”).

Shareholders are herewith advised that the Company has repurchased 9,996,839 Ordinary Shares by 1 July
2022, representing 3.13% 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 308,907,870 shares.

The Ordinary Shares were repurchased for an aggregate value of R852,160,068.

            Number        Highest price per        Lowest price per         Aggregate value (R)
       of Ordinary       Ordinary Share (R)       Ordinary Share (R)
            Shares
       repurchased
         9,996,839                   R90.00                   R76.80               852,160,068

The number of treasury shares are 49,245,568 and will remain unchanged.

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 1,500,000 Ordinary Shares at which point they will immediately
be cancelled. 8,496,839 has already been cancelled.
The impact of the repurchase of the Ordinary Shares on the financial information of the Company is
immaterial. The Ordinary Shares were repurchased from excess cash resources of the Company; going
forward, no Ordinary Share dividends will be payable on the repurchased Ordinary Shares and interest
earned on the cash utilised for the repurchase will be foregone.

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
04 July 2022

Sponsor
Investec Bank Limited

Date: 04-07-2022 08:30:00
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