Quarterly Capital Disclosure - 31 December 2025

As part of the dual listed company structure, Investec plc and Investec Limited notify both the London Stock Exchange and the JSE Limited ("JSE") of matters which are required to be disclosed under the Disclosure Guidance, Transparency Rules ("DTR") and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

Accordingly, we advise of the following:

Pillar III quarterly disclosures at 31 December 2025

Capital adequacy and leverage disclosures

Investec plc and Investec Limited calculate capital resources and requirements using the Basel III framework, as implemented in their respective jurisdiction by the Prudential Regulation Authority and South African Prudential Authority.

The following table sets out the capital and leverage metrics for the Investec plc group, Investec Limited group and Investec Bank Limited group ("IBL"):

^ The information for Investec plc includes the information for Investec Bank plc. The information for Investec Limited includes the

   information for IBL.

*  Investec plc's capital and leverage ratios exclude quarterly profits and associated foreseeable charges and dividends for the

   period 1 October 2025 to 31 December 2025. In accordance with the Prudential Regulation Authority rules, quarterly profits may

   only be included in a firm's capital position once the profits have been independently verified by an external audit firm.

** Investec Limited and IBL are predominately on the advanced approach for credit risk.

*** Investec Limited's and IBL's capital information includes unappropriated profits. If unappropriated profits are excluded from capital information, Investec Limited's and IBL's CET1 ratio would be 162bps and 60bps lower respectively. The leverage would be 61bps and 11bps lower respectively.

Liquidity Disclosures

Liquidity coverage ratio ("LCR") and net stable funding ratio ("NSFR")

The objective of the LCR is to promote the short-term resilience of the liquidity risk profile of banks by ensuring that they have sufficient high-quality liquid assets to survive a significant stress scenario lasting 30 calendar days. The NSFR promotes the resilience of the banking sector by requiring banks to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities on an ongoing structural basis. By ensuring that banks do not embark on excessive maturity transformation that is not sustainable, the NSFR is intended to reduce the likelihood that disruptions to a bank's funding sources would erode its liquidity position, increase its risk of failure, and potentially lead to broader systemic risk.

The following table sets out the LCR and NSFR for the Investec plc group, IBL (solo basis) and IBL Group:

*  For Investec plc the LCR ratio disclosed is the trailing 12-month average ratio and the NSFR ratio is the trailing 4-quarter average 

    ratio.

** The values in the table are calculated as the simple average of 92 calendar daily values over the period 1 October 2025 to              

    31 December 2025 for IBL (solo basis). IBL Group values use daily values for IBL (solo basis), while those for other group entities

    use the average of October, November and December 2025 month-end values.

The detailed capital and liquidity disclosures for the above entities are available on the Investec website in the quarterly Pillar 3 disclosure reports, as required by the relevant regulations.

27 February 2026

Sponsor: Investec Bank Limited