INVESTEC LIMITED - Transactions by a Director in Investec Limited Ordinary Shares.

Transactions by a Director in Investec Limited Ordinary Shares.

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

As part of the dual listed company structure, Investec plc and Investec Limited (together “Investec”) notify
both the London and Johannesburg Stock Exchanges of those interests (and changes to those interests) of
(i) directors of both entities and the respective company secretaries, (ii) persons discharging managerial
responsibilities (PDMRs) and persons closely associated with them, and (iii) in certain instances the directors
of major subsidiaries of Investec Limited, in the securities of Investec plc and Investec Limited which are
required to be disclosed under Article 19 of the Market Abuse Regulation (Regulation 596/2014), the
Disclosure and Transparency Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE
Listing Requirements.



TRANSACTIONS BY A DIRECTOR IN INVESTEC LIMITED ORDINARY SHARES.

Bernard Kantor entered into a zero premium collar on the 6th July 2017 and the following information in
relation to Bernard Kantor’s direct beneficial interests is disclosed:

    1    Details of the person discharging managerial responsibilities / person closely
         associated

    a)   Name
                                               Bernard Kantor

    2    Reason for the notification

    a)   Position/status                       Director


    b)   Initial notification /Amendment       Initial notification


    3    Details of the issuer, emission allowance market participant, auction platform,
         auctioneer or auction monitor

    a)   Name                                  Investec Limited


    b)   LEI                                   n/a


    4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
         each type of transaction; (iii) each date; and (iv) each place where transactions have
         been conducted


    a)   Description of the financial
         instrument, type of instrument        Ordinary shares of ZAR0.0002 each (INL Shares)

         Identification code                   ZAE000081949


    b)   Nature of the transaction             Zero premium collar – purchase of 600,000 put options
                                               at a strike price of ZAR100.00 per share expiring on 1
                                               December 2018 and sale of 600,000 call options at a
                                               strike price of ZAR120.00 per share expiring on 1
                                           December 2018
    c)   Price(s) and volume(s)
                                            Price(s)                Volume(s)

                                            PURCHASE OF PUT         600,000
                                            OPTIONS: STRIKE
                                            PRICE OF ZAR100.00

                                            SALE OF CALL            600,000
                                            OPTIONS: STRIKE
                                            PRICE OF ZAR120.00


    d)   Aggregated information


         - Aggregated volume               PUT OPTIONS – 600,000
                                           CALL OPTIONS – 600,000

         - Price                           PUT OPTIONS – STRIKE PRICE OF ZAR100.00
                                           CALL OPTIONS – STRIKE PRICE OF ZAR120.00




    e)   Date of the transaction           6 July 2017


    f)   Place of the transaction          Johannesburg




Clearance was obtained for the above dealings in securities.


Johannesburg and London
7 July 2017

Sponsor:
Investec Bank Limited

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