Voluntary Shareholder update

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 of matters which are required to be disclosed under the Disclosure Guidance and Transparency Rules, and Listing Rules of the Financial Conduct Authority (the "FCA") and/or the JSE Listings Requirements.

Voluntary shareholder update

Investec welcomes the clarity provided by the Supreme Court of England and Wales' (the "Supreme Court") judgment on the appeal against the Court of Appeal's decision in Wrench, Hopcraft and Johnson concerning the payment of finance commission by motor finance lenders to motor dealers acting as credit brokers, which was handed down on 1 August 2025.

In establishing the provision estimate of £30mn, the Group created a number of scenarios to address uncertainties around a number of key assumptions. These included the potential outcomes of the UK Supreme Court appeal, any steps that the UK Financial Conduct Authority ("FCA") may take and outcomes in relation to the extent of harm and remedies. Other key assumptions included applicable commission models, commission rates, time periods, response rates, uphold rates, levels of redress/interest applied and costs to deliver. Whilst the judgment announced on 1 August provides additional clarity, there remain a number of uncertainties.

The FCA announced that it will publish a consultation on an industry wide redress scheme by early October 2025. The provision will continue to be reviewed as and when further information becomes available.

Following the initial assessment of the Supreme Court judgment and pending resolution of the outstanding uncertainties, in particular the FCA redress scheme, Investec believes that the current provision remains adequate.

Shareholders are advised that this voluntary update is based on financial information that has not

been reviewed and reported on by the group's external auditors.

London and Johannesburg

5 August 2025

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Investec Bank Limited