INVESTEC LIMITED - Investec Limited Non-Redeemable, Non-Cumulative, Non-Participating Preference Shares Repurchase

Investec Limited Non-Redeemable, Non-Cumulative, Non-Participating Preference Shares Repurchase

Investec Limited                                                               Investec plc
Incorporated in the Republic of South Africa                                   Incorporated in England and Wales
Registration number 1925/002833/06                                             Registration number 03633621
JSE share code: INL                                                            LSE share code: INVP
JSE share code: INPR                                                           JSE share code: INP
JSE debt code: INLV                                                            ISIN: GB00B17BBQ50
NSX share code: IVD                                                            LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
ISIN: ZAE000063814
LEI: 213800CU7SM6O4UWOZ70

INVESTEC LIMITED NON-REDEEMABLE, NON-CUMULATIVE, NON-PARTICIPATING PREFERENCE SHARES
("PREFERENCE SHARES") REPURCHASE

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 (the "JSE") 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 the JSE Listings Requirements.

The Board accordingly advises as follows:

Investec Limited (the "Company") hereby advises that, in accordance with a resolution passed by the Company's board
on 19 November 2025 (the "Board Resolution"), the Company may repurchase up to a maximum of 20% of the
Preference Shares in issue as at the date of and pursuant to the current general authority granted by the Company's
shareholders on 7 August 2025.

It was further resolved that any repurchases would, pursuant to the current general authority, be within certain pre-
determined price limits with specific reference to the limits granted under the current general authority as well as the JSE
Listings Requirements.

Shareholders are herewith advised that the Company has, pursuant to the repurchase of Preference Shares announced
via SENS by the Company on 10 December 2025, repurchased 1,016,317 Preference Shares from 14 January 2026 to 21
January 2026 which represents 4.09% of the issued Preference Share capital as at the date of the current general
authority. Following these repurchases, 23,819,526 Preference Shares remain in issue. The Company may purchase a
further 3,950,851 shares, being 15.91% of the Preference Shares in issue as at 7 August 2025, under the current general
authority.

The Preference Shares were repurchased for an aggregate value of R100,763,317

    Number of               Average price per     Highest price per         Lowest price per         Aggregate value (R)
    preference shares       Preference Share      Preference Share (R)      Preference Share (R)
    repurchased             (R)
    1,016,317               99.15                 99.20                     98.01                    100,763,317

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 arrangementbetween the Company and the counterparties.

To the extent not already done so, application will be made to the JSE to de-list the Preference Shares repurchased, at
which point they will immediately be cancelled.

The impact of the repurchase of the Preference Shares on the financial information of the Company is immaterial. The
Preference Shares were repurchased from excess cash resources of the Company; going forward, no Preference Share
dividends will be payable on the repurchased Preference 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 ofbusiness, 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 ofthe 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

22 January 2026


Sponsor
Investec Bank Limited

Date: 22-01-2026 04:30:00
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