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 Date: 07/07/2017 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.