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INVESTEC LIMITED - Directorate changes

Release Date: 02/07/2019 08:00
Code(s): INL INP     PDF:  
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Directorate 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
NSX share code: IVD                                     JSE share code: INP
BSE share code: INVESTEC                                ISIN: GB00B17BBQ50
ISIN: ZAE000081949

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

Accordingly we advise of the following:

Directorate changes

Executive Director changes

Following the Group’s announcement on management succession made in February 2018, the Board
confirms the following executive director changes. Stephen Koseff and Bernard Kantor will not seek re-
election to the Board and will accordingly step down as executive directors with effect from 08 August

The Board would like to thank Stephen and Bernard for their exemplary service, dedication and
commitment to the Group since the 1980s.

Non-Executive Director changes

After serving as non-executive director for 14 years and member of the Group’s Social and Ethics
Committee, Cheryl Carolus has indicated her intention not to seek re-election to the Board and will step
down with effect from 08 August 2019, the date of the Group’s Annual General Meetings. At the same
time, Laurel Bowden, who has served as a non-executive director and member of the Group’s Audit
Committees, has also indicated her intention not to seek re-election to the Board and will also step
down with effect from 08 August 2019.

Further to the above, and in accordance with Section 3.59 of the JSE Limited Listing Requirements and
Rule 9.6.11 of the UK Listing Rules, the Board announces the appointments, both effective 09 August
2019, of Henrietta Baldock and Philisiwe Sibiya as non-executive directors of the Board.

Henrietta will be appointed as a member of the Group’s Board Risk and Capital Committee and Philisiwe
will be appointed as a member of the Group’s Audit Committee, as well as the Group’s Board Risk and
Capital Committee.

Henrietta has been the Independent Non-executive Chair of Legal & General Assurance Society Ltd
since 6 March 2018. Henrietta has been an Independent Non-Executive Director of Legal & General
Group Plc since October 4, 2018 where she is also a member of the Audit, Remuneration, Nominations
and Risk Committees. Henrietta was the Chairman of European Financial Institutions Investment
Banking at Bank of America Merrill Lynch, based in London. She joined Bank of America Merrill Lynch
in 2000 as a Vice President in Financial Institutions Group and was promoted through the business to
the positions of Managing Director and Head of European Financial Institutions Investment Banking.

Philisiwe is the founding chair and CEO of Shingai Group. She brings nearly 20 years of management
experience in a variety of African contexts, including time as Chief Financial Officer for MTN South
Africa and later CEO for MTN Cameroon. Philisiwe is non-executive board member of the JSE-listed
company AECI Limited.

Save for the directorships listed in the notes, there are no further details required to be disclosed by
Rule 9.6.13 of the UK Listing Rules.
For further information please contact:

Investec Investor Relations
Carly Newton
+44 207 597 5546

London and Johannesburg
02 July 2019


Current directorships: Henrietta Baldock:
    •    Legal & General plc: appointed October 2018

Current directorships: Philisiwe Sibiya:
    •    AECI Limited (incorporated in the Republic of South Africa and listed on the Johannesburg
         Stock Exchange): appointed February 2018

About Investec

Investec is an international specialist bank and asset manager that provides a diverse range of financial
products and services to a select client base in three principal markets, the UK and Europe, South
Africa and Asia/Australia as well as certain other countries. The group was established in 1974 and has
approximately 10 300 employees.

Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity
namely, Asset Management, Wealth & Investment and Specialist Banking.

In July 2002 the Investec group implemented a dual listed company structure with listings on the London
and Johannesburg Stock Exchanges. The combined group’s current market capitalisation is
approximately GBP5.2 billion.

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