Transaction by a PDMR in Investec plc 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 Guidance and Transparency Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE Listing Requirements. TRANSACTION BY A PDMR IN INVESTEC PLC ORDINARY SHARES. Investec has been advised that David van der Walt disposed of the following number of ordinary shares in Investec plc (INP Shares) on 13 December 2017 in order to settle a tax liability related to prior year share awards which have now vested. At the same time, David van der Walt took up shares per the disclosure below. 1 Details of the person discharging managerial responsibilities / person closely associated a) Name David van der Walt 2 Reason for the notification a) Position/status PDMR b) Initial notification Initial notification /Amendment 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Investec plc b) LEI 2138007Z3U5GWDN3MY22 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 Ordinary shares of GBP0.0002 each instrument, type of instrument Identification code GB00B17BBQ50 b) Nature of the transaction On Market Sale of shares to cover taxation due on vesting of conditional awards. c) Price(s) and volume(s) Price(s) Volume(s) GBP4.75 23,547 d) Aggregated information - Aggregated volume 23,547 - Price GBP4.75 e) Date of the transaction 13 December 2017 f) Place of the transaction London 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 Ordinary shares of GBP0.0002 each instrument, type of instrument GB00B17BBQ50 Identification code b) Nature of the transaction Take up of shares on vesting of conditional awards. c) Price(s) and volume(s) Price(s) Volume(s) GBP4.75 26,453 d) Aggregated information - Aggregated volume 26,453 - Price GBP4.75 e) Date of the transaction 13 December 2017 f) Place of the transaction London In compliance with Rules 3.63 – 3.74 of the JSE Listing Requirements, the following additional information is disclosed in respect of the sale of INP Shares as disclosed above: Transaction Dated 13 December 2017 Volume weighted average price GBP4.75 Total value of transaction GBP111,894.71 Highest price GBP4.774 Lowest price GBP4.724 Nature of interest Direct beneficial Transaction Dated 13 December 2017 Volume weighted average price GBP4.75 Total value of transaction GBP125,703.94 Highest price GBP4.774 Lowest price GBP4.724 Nature of interest Direct beneficial Clearance was obtained for the above dealings in securities. Johannesburg and London 14 December 2017 Sponsor: Investec Bank Limited Date: 14/12/2017 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.