TR-1: Notification of major holdings 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 (jointly “Investec”) As part of the dual listed company structure, Investec plc and Investec Limited 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 the Listing Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE Listing Requirements. Accordingly, we advise of the receipt of the following TR-1 notification: TR-1: Notification of major holdings NOTIFICATION OF MAJOR HOLDINGS 1a. Identity of the issuer or the underlying issuer Investec Plc. of existing shares to which voting rights are attached: 1b. Please indicate if the issuer is a non-UK issuer Non-UK issuer 2. Reason for the notification An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Details of person subject to the notification obligationiv Coronation Asset Management (Pty) Ltd acting as Name discretionary investment manager on behalf of managed portfolios. City and country of registered office (if applicable) Cape Town, South Africa 4. Full name of shareholder(s) (if different from 3.) Name N/A City and country of registered office (if applicable) 5. Date on which the threshold was crossed or 14/12/2018 reached: 6. Date on which issuer notified (DD/MM/YYYY): 14/12/2018 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights at- Total number of through financial Total of both in % tached to shares voting rights of instruments (8.A + 8.B) (total of 8. A) issuer (total of 8.B 1 + 8.B 2) Resulting situation on the date on which 2.95 2.95 682 121 211 threshold was crossed or reached Position of previous notification (if 3.75 3.75 applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached A: Voting rights attached to shares Class/type of Number of voting rights % of voting rights shares ISIN code (if possible) Direct Indirect Direct Indirect (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) (DTR5.1) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) (DTR5.2.1) GB0006834344 20 111 816 2.95 SUBTOTAL 8. A 20 111 816 2.95 B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights Type of financial Expiration Exercise/ that may be acquired if % of voting rights instrument date Conversion Period the instrument is exercised/converted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Exercise/ Physical or Type of financial Expiration Number of Conversion cash % of voting rights instrument date voting rights Period settlement SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation 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 Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity X % of voting rights % of voting rights if it Total of both if it through financial in- equals or is higher equals or is higher Name struments if it equals than the notifiable than the notifiable or is higher than the threshold threshold notifiable threshold Coronation Fund Man- agers Ltd Coronation Investment Management SA (Pty) Ltd Coronation Asset Man- 2.95 2.95 agement (Pty) Ltd 10. In case of proxy voting, please identify: 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 Place of completion Cape Town, South Africa Date of completion 14 December 2018 Johannesburg and London 14 December 2018 Sponsor: Investec Bank Limited Date: 14/12/2018 03:00:00 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.