Transaction by a Director of a major subsidiary 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 Listing Rules and the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE Listings Requirements. TRANSACTION BY A DIRECTOR OF A MAJOR SUBSIDIARY IN INVESTEC LIMITED ORDINARY SHARES 1 Details of the director of a major subsidiary a) Name Stuart Spencer 2 Reason for the notification a) Position/status Director of a major subsidiary – Investec Bank Limited b) Initial notification Initial Notification /Amendment 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Investec Limited b) LEI 213800CU7SM6O4UWOZ70 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 ZAR0.0002 each instrument, type of instrument Identification code ZAE000081949 b) Nature of the transaction On market sale of shares following the exercise and sale of nil cost options c) Price(s) and volume(s) Price(s) Volume(s) ZAR78.60 15,000 d) Aggregated information - Aggregated volume 15,000 - Price ZAR78.60 e) Date of the transaction 03 September 2019 f) Place of the transaction Johannesburg In compliance with Rules 3.63 – 3.74 of the JSE Listings Requirements we disclose the following additional information: Volume weighted average price ZAR78.60 per share Total value of transaction ZAR1,179,000.00 Highest price ZAR78.60 Lowest price ZAR78.60 Nature of interest Direct beneficial Clearance was obtained for the above dealings in securities. Johannesburg and London 04 September 2019 Sponsor: Investec Bank Limited Date: 04/09/2019 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.