Preference share partial redemption announcement 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: ILRP2 LSE share code: INVP ISIN: ZAE000202990 JSE share code: INP JSE ordinary share code: INL ISIN: GB00B17BBQ50 NSX ordinary share code: IVD BSE ordinary share code: INVESTEC ISIN: ZAE000081949 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, Transparency Rules and Listing Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE Listing Requirements. INVESTEC LIMITED Preference share partial redemption announcement Class ILRP2 redeemable, cumulative, non-participating preference shares (“Preference Shares”) Partial redemption of Preference Shares Notice is hereby given that 21 293 Preference Shares will be redeemed on 22 October 2018 pursuant to a bespoke offer that was made by Investec Limited to a specific preference shareholder, which offer was accepted by such shareholder, in accordance with clause 46 of the Applicable Pricing Supplement of the Preference Shares. The early redemption will take place at an amount of 100 321.15962 cents per Preference Share being a return of capital of 100 000 cents per Preference Share plus accrued dividends in respect of the period from and including 01 October 2018 up to, but excluding, 22 October 2018, which amounts to 321.15962 cents per Preference Share. Salient features of the redemption of the 21 293 Preference Shares are listed below: Issuer Investec Limited Instrument Redeemable cumulative non- participating preference shares Early Redemption date 22 October 2018 Number of shares redeemed 21 293 Number of shares outstanding 191 642 post this early redemption JSE Share Code ILRP2 ISIN ZAE000202990 Additional information to take note of: - The Investec Limited company tax reference number: 9800/181/71/2 - The dividend paid by Investec Limited is subject to South African Dividend Tax (Dividend Tax) of 20% (subject to any available exemptions or reductions in terms of Double Tax Agreements as legislated) equal to 64.23192 cents per share - The net dividend amounts to 256.92770 cents per preference share for shareholders liable to pay the Dividend Tax and 321.15962 cents per preference share for preference shareholders exempt from paying the Dividend Tax. By order of the board N van Wyk Company Secretary Investec Limited 17 October 2018 Johannesburg Sponsor: Investec Bank Limited Date: 17/10/2018 12:27:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.