Directorate change

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 responsibilities (PDMRs) across the group 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 Disclosure Guidance and interests (and changes to those interests) of persons discharging managerial Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements. In relation to Investec Bank Limited, the JSE and the Cape Town Stock Exchange are notified of matters which are required to be disclosed under the JSE Debt and Specialist Securities Listings Requirements and CTSE Debt Listing Requirements.

BOARD COMPOSITION CHANGES

Investec plc and Investec Limited ("Investec" or the "Group") announce the following Board changes as part of the Group's orderly board succession planning and ongoing board refresh.

Philip Hourquebie, Group Chair of Investec and Chair of Investec Bank Limited, has informed the board that he will stand down from the boards of Investec plc and Investec Limited (together the "Board") with effect from 6 August 2026, having reached nine years' tenure. Philip will also step down as Chair of Investec Bank Limited. The Board extends its sincere thanks to Philip for his leadership, stewardship and significant contribution to Investec during his tenure.

Henrietta Baldock, heretofore the Senior Independent Director, will be appointed Group Chair of Investec plc and Investec Limited with effect from 6 August 2026. Henrietta's appointment provides continuity of Board leadership as the Group continues to implement its strategy of disciplined growth, while maintaining its focus on long-term value creation, prudent risk management and strong governance.

The Board is also pleased to announce that Nkululeko Sowazi will be appointed as an independent non-executive director with immediate effect and, with effect from 6 August 2026, independent non-executive Chair of Investec Bank Limited. Nkululeko is an experienced business leader and has extensive investment management, private equity and listed company board experience.

The Board confirms that in compliance with paragraph 6.73 of the JSE Listings Requirements, a fit and proper assessment has been conducted in relation to Nkululeko and that the Board is satisfied with the outcome thereof. Investec further confirms that there are no positive statements to report in respect of the integrity information contained in Nkululeko's director's declaration.

Stephen Koseff has informed the Board that he will not stand for re-election at the forthcoming Annual General Meetings of Investec plc and Investec Limited, to be held on 6 August 2026. Stephen re-joined the Board as a non-executive director with effect from 17 September 2020, having previously served as Group Chief Executive Officer from 1996 until 1 October 2018. Stephen has provided valuable insight as a non-executive director, drawing on his deep knowledge of Investec, its clients and its people. The Board extends its gratitude to Stephen for his contribution as a non-executive director, as well as his leadership and commitment to Investec over more than four decades.

The Board intends to make further non-executive appointments in due course. 

The Board congratulates Henrietta and Nkululeko and looks forward to working with them and wishes Stephen well for the future.

London and Johannesburg
21 May 2026

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Investec Bank Limited