Board Composition Changes

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
JSE hybrid code: INPR                                      JSE share code: INP
JSE debt code: INLV                                        ISIN: GB00B17BBQ50
NSX share code: IVD                                        LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70

Investec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1969/004763/06
LEI No: 549300RH5FFHO48FXT69
JSE Interest rate issuer code: BIINLP
JSE Structured product issuer code: INVP
JSE ETN issuer code: INVSN
CTSE stock code: INV

BOARD COMPOSITION CHANGES

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.

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

Sponsor and CTSE External Debt Issuer Agent
Investec Bank Limited

Date: 21-05-2026 02:00:00
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