IBL Financial Overview

IBL operational structure Non-SA and SA resident shareholders Investec Limited Listed on JSE >> DLC arrangements SA operations Investec Bank Limited Investec Bank (Mauritius) Limited >> Investec plc Listed on LSE Non-SA operations Investec Securities (Pty) Ltd^ Investec Property Group Holdings (Pty) Ltd Investec Limited, the holding company for Investec Bank Limited, is part of a Dual Listed Companies (DLC) structure Salient features of Investec's DLC structure: • • • . Investec plc and Investec Limited are separate legal entities and listings, but are bound together by contractual agreements and mechanisms Investec operates as if it is a single unified economic enterprise The companies have the same Boards of Directors and management Shareholders have common economic and voting interests as if Investec Limited and Investec plc were a single company: Equivalent dividends on a per share basis Joint electorate and class right voting Creditors are however ring-fenced to either Investec Limited or Investec plc as there are no cross guarantees between the companies . Capital and liquidity are prohibited from flowing between the two entities under the DLC structure conditions Regulation of the DLC structure: The South African Prudential Authority (SA PA) is the lead regulator of the group The SA PA is the regulator of Investec Limited while the UK Prudential Regulation Authority and the Financial Conduct Authority are the regulators of Investec plc The Memorandum of Understanding between the two regulators sets out that the role of the lead regulator would change if 70% or more of the on and off-balance sheet assets are held by Investec plc All shareholdings are 100% unless otherwise stated. Only main operating subsidiaries are indicated. ^Houses the Wealth & Investment business Page 17

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