INVESTEC LIMITED - Investec Limited Non-Redeemable, Non-Cumulative, Non-Participating Preference Shares Repurchase Programme

Investec Limited Non-Redeemable, Non-Cumulative, Non-Participating Preference Shares Repurchase Programme

Investec Limited                                       Investec plc
Registration number: 1925/002833/06                    Incorporated in England and Wales
Share code: INPR                                       Registration number 03633621
ISIN: ZAE000063814                                     LSE share code: INVP
                             JSE share code: INP
                                                       ISIN: GB00B17BBQ50

As part of the dual listed company structure, Investec plc and Investec Limited 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 the Listing Rules of the United Kingdom Listing Authority and/or the JSE
Listings Requirements.


Investec Limited (the "Company") hereby announces the commencement of a share repurchase
programme (the "Programme"), in compliance with paragraph 5.72(h) of the Listings Requirements of the
JSE Limited ("JSE"), in terms of which the Company may repurchase up to a maximum of 5% of the non-
redeemable, non-cumulative, non-participating preference shares (Code: INPR) in issue ("preference
shares"). Repurchases of preference shares in terms of the Programme will be made pursuant to and in
accordance with the general authority granted to the Company by its shareholders at the Company's annual
general meeting held on 6 August 2020. The general authority authorises the Company to repurchase
preference shares during a closed period if the repurchase is done under a repurchase programme. The
Company has received approval from the Prudential Authority for the repurchase of preference shares. No
preference shares will be repurchased from directors of the Company.

The Programme commences on 29 September 2020 at the opening of the market and will end on the earlier
of (i) the close of the markets on 15 January 2021 and (ii) the date on which the maximum number of
preference shares to be repurchased under the Programme have been met. Repurchases will be executed
through the order book operated by the JSE by the Company's authorised intermediary without any prior
understanding or arrangement between the Company and/or its subsidiaries and the counterparties.
Repurchases will be effected within certain pre-determined price limits with specific reference to the limits
of the general authority granted by the Company's shareholders and in compliance with the JSE's Listings

Preference shares repurchased under the Programme will be cancelled as issued shares and will revert to
authorised but unissued share capital status.

The Programme may be discontinued at any stage during the period concerned and there is no obligation
on the Company to purchase any preference shares during the period.

28 September 2020

Investec Bank Limited

Date: 28-09-2020 05:45:00
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